Which one of the following is not a requirement of a deferred like-kind exchange?
A) The like-kind property to be received must be identified within 45 days.
B) The exchange must be completed within the taxable year.
C) The like-kind property must be received within 180 days.
D) A third party intermediary is often used to facilitate the exchange.
E) All of these.

Question

Quizplus · Accepted Answer

While A, C, and D are all requirements of a deferred like-kind exchange, B is not. The exchange can be completed after the taxable year as long as it falls within the 180-day limit.

Which One of the Following Is Not a Requirement of a Deferred