The taxpayer-use test for qualifying replacement property
A)applies only to personalty
B)requires replacement property used by the taxpayer to be used in the same business as the converted property
C)only requires leased realty to be replaced with other leased realty
D)Is more restrictive than the functional-use test

Question

Quizplus · Accepted Answer

The Answer of The taxpayer-use test for qualifying replacement property
A)applies only to personalty
B)requires replacement property used by the taxpayer to be used in the same business as the converted property
C)only requires leased realty to be replaced with other leased realty
D)Is more restrictive than the functional-use test

The Taxpayer-Use Test for Qualifying Replacement Property