The election to defer a gain under the involuntary conversion rules is reported on:
A)Form 4797.
B)Form 1040,Schedule A.
C)Form 1040,Schedule D.
D)No form is used.An election is attached to the tax return.

Question

Quizplus · Accepted Answer

No form is used to report the election to defer a gain under the involuntary conversion rules. The taxpayer must attach a statement to their tax return indicating they are electing to defer the gain.

The Election to Defer a Gain Under the Involuntary Conversion