How long does a taxpayer have to identify replacement property in a like-kind exchange?
A) The like-kind property to be received must be identified within 45 days.
B) The like-kind property to be received must be identified by the earlier of 45 days or the last day of the taxpayer's taxable year.
C) The like-kind property to be received must be identified within 180 days.
D) There is no deadline for the identification of replacement property.
E) All of these.

Question

Quizplus · Accepted Answer

In a like-kind exchange, the taxpayer must identify replacement property within 45 days of the transfer of the relinquished property. This deadline cannot be extended.

How Long Does a Taxpayer Have to Identify Replacement Property