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.

---

Definitions:

Retroactive Interference

occurs when newly learned information interferes with and impedes the recall of previously learned information.

Cue-dependent Forgetting

A type of memory loss where the information is not forgotten but cannot be retrieved without specific cues or triggers.

Proactive Interference

The phenomenon where older memories interfere with the recall of newer memories.

Retroactive Interference

A memory phenomenon where newer information makes it difficult to recall information that was learned earlier.