All or part of gain realized on an involuntary conversion is deferred but not permanently excluded if qualifying replacement property is acquired within the requisite period of time.

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Quizplus · Accepted Answer

This is true according to the tax code. Gain realized on an involuntary conversion, such as property taken by eminent domain, can be deferred but not permanently excluded if qualifying replacement property is acquired within the requisite period of time.

All or Part of Gain Realized on an Involuntary Conversion