When an Involuntary Conversion Is Due to the Condemnation of Real

question 14

True/False

When an involuntary conversion is due to the condemnation of real property held for productive use in a trade or business or for investment,the replacement period will end three years after the close of the first tax year in which any part of the gain is realized.

---

Definitions:

Alveoli

Small air sacs in the lungs where the exchange of oxygen and carbon dioxide takes place.

Costal Angle

The angle formed by the meeting of the lower borders of the rib cage, usually becoming more acute when the ribs are drawn together during inspiration.

Kyphosis

An excessive outward curvature of the spine, leading to a hunched back appearance.

Barrel Chest

A chest shape characterized by an increased front-to-back diameter and a rounded appearance, often seen in chronic obstructive pulmonary disease (COPD).