Involuntary conversion gains may be deferred if the proceeds of the involuntary conversion are reinvested.

Name: Involuntary conversion gains may be deferred if the proceeds of the involuntary conversion are reinvested.
Brand: Quizplus
Rating: 4.7 (29 reviews)

Question

Quizplus · Accepted Answer

This is true according to the Internal Revenue Code (IRC) Section 1033, which allows for tax deferral on gains from involuntary conversions if the proceeds are reinvested into similar property within a specific time frame.

Involuntary Conversion Gains May Be Deferred If the Proceeds of the Involuntary