Which of the Following Statements Is Incorrect for a §

question 135

Multiple Choice

Which of the following statements is incorrect for a § 1033 involuntary conversion?

• A)An election can be made to postpone gain on a § 1033 involuntary conversion only if the proceeds received are reinvested in qualifying property no later than two years after the date of the involuntary conversion.
• B)The postponement of realized gain in a § 1033 involuntary conversion is elective.
• C)The functional use test is satisfied if a business warehouse is replaced with another business warehouse.
• D)The taxpayer use test is satisfied if a shopping mall rented to tenants is replaced with an office building to be rented to tenants.
• E)All of the above are correct.

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Definitions:

Psychoanalysis

A set of theories and therapeutic techniques related to the study of the unconscious mind, which together form a method of treatment for mental disorders, developed by Sigmund Freud.

Sigmund Freud

A neurologist from Austria who established psychoanalysis, a therapeutic approach that addresses mental disorders by facilitating conversations between a psychoanalyst and the patient.

Alfred Adler

An Austrian medical doctor and psychotherapist known for founding the school of individual psychology, which emphasizes the uniqueness of the individual and the role of societal factors in shaping personality.

Insight Therapies

Psychological treatments that involve verbal interactions intended to enhance clients' self-knowledge and thus promote healthful changes in personality and behavior.