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the statutory deadline by a few days, are unfortunate and elicit
sympathy. Courts, however, have consistently held that the time
limits of section 1034 are uniformly applicable and leave no room
for interpretation or tempering because of hard or unfortunate
circumstances, even where the taxpayer was prevented from
acquiring the new residence on time due to circumstances beyond
his control. See Shaw v. Commissioner, 69 T.C. 1034, 1038
(1978), and cases cited therein.3 "Extensions of � 1034(a)'s
time limitations are available only when a specific statutory
provision so provides." Moore v. Townsend, 577 F.2d 424, 428 n.7
(7th Cir. 1978). Thus, petitioner's eligibility for
nonrecognition treatment depends solely on a determination of the
dates when the sale of his old residence and the purchase of his
new residence occurred, and we cannot consider any delay in
purchasing a new home caused by petitioner's personal bankruptcy.
The question of when a sale is complete for Federal tax
purposes is essentially one of fact to be decided based on a
consideration of all the facts and circumstances with no single
factor controlling the outcome. Derr v. Commissioner, 77 T.C.
708, 723-724 (1981); Baird v. Commissioner, 68 T.C. 115, 124
(1977). A sale of real property is generally complete upon the
earlier of the transfer of legal title or the practical
assumption of the benefits and burdens of ownership by the
3 See also Chavez v. Commissioner, T.C. Memo. 1983-199;
Henry v. Commissioner, T.C. Memo. 1982-469; Bazzell v.
Commissioner, T.C. Memo. 1967-101.
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