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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Definitions:

Nervousness

refers to a state of being easily agitated or alarmed, often associated with feelings of anxiety or apprehension.

Chronic Stressor

A stress causing factor or condition that persists over an extended period of time, often leading to long-term health issues if not addressed.

Acute Stressor

A short-term cause of stress that triggers an immediate physiological response, typically perceived as challenging or threatening.

Duration

The length of time that something continues or exists, often referring to events or conditions.