Vector Inc.'s office building burns 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.

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The Answer of Vector Inc.'s office building burns 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.