The property to be received in a like-kind exchange must be identified within:
A)45 days after the transfer of the property relinquished in the exchange.
B)90 days after the transfer of the property relinquished in the exchange.
C)180 days after the transfer of the property relinquished in the exchange.
D)There is no time limit to identify the property to be received.

Question

Quizplus · Accepted Answer

The property to be received in a like-kind exchange must be identified within 45 days after the transfer of the property relinquished in the exchange. This is a strict time limit set by the IRS, and failure to meet this deadline can result in the disqualification of the entire exchange.

The Property to Be Received in a Like-Kind Exchange Must