How Long Does a Taxpayer Have to Identify Replacement Property

question 74

Multiple Choice

How long does a taxpayer have to identify replacement property in a like-kind exchange?

• A) The like-kind property to be received must be identified within 45 days.
• B) The like-kind property to be received must be identified by the earlier of 45 days or the last day of the taxpayer's taxable year.
• C) The like-kind property to be received must be identified within 180 days.
• D) There is no deadline for the identification of replacement property.
• E) All of these.

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