The time period to replace property destroyed in an involuntary conversion is two years from the event.

Question

Quizplus · Accepted Answer

The typical time period to replace property destroyed in an involuntary conversion and defer recognizing any gain for tax purposes is generally up to four years from the end of the tax year in which the gain is realized, although this period can vary depending on specific circumstances and types of property.

The Time Period to Replace Property Destroyed in an Involuntary