Vector Inc.'s office building burned down on October 31,2017.Vector,a calendar-year taxpayer,finally settles with the insurance company on February 3,2018.In order to defer the gain realized on the building,Vector must acquire another office building by February 3,2020.

Question

Quizplus · Accepted Answer

The Answer of Vector Inc.'s office building burned down on October 31,2017.Vector,a calendar-year taxpayer,finally settles with the insurance company on February 3,2018.In order to defer the gain realized on the building,Vector must acquire another office building by February 3,2020.