In order to fully defer the gain realized on the involuntary conversion of property,the taxpayer must acquire qualifying replacement property costing at least as much as the cost of the original property.

Question

Quizplus · Accepted Answer

To fully defer the gain, the taxpayer must acquire replacement property costing at least as much as the amount realized from the involuntary conversion, not the original cost of the property.

In Order to Fully Defer the Gain Realized on the Involuntary