In a deferred like-kind exchange, the like-kind property to be received must be identified within 45 days and acquired within 180 days from the initial exchange.

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This statement is true. In a deferred like-kind exchange, the taxpayer must identify the replacement or like-kind property within 45 days after the transfer of the relinquished property and acquire the new property within 180 days from the initial exchange.

In a Deferred Like-Kind Exchange, the Like-Kind Property to Be