With an Involuntary Conversion,what Is the Time Limit to Purchase

question 2

Multiple Choice

With an involuntary conversion,what is the time limit to purchase replacement property?

• A)Two years from the conversion event.
• B)It ends two years after the close of the taxable year the gain is realized (three years for real property held for use in a trade or business,or investment that is condemned).
• C)There is no time limit.
• D)Five years from the conversion event.

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