Multiple Choice
Wally's investment real estate was condemned on November 14,2015.On February 14,2016,he received $250,000 for the property that had a basis of $210,000.What is the last date that Wally can acquire replacement property to avoid gain recognition?
A) November 14,2018
B) February 14,2019
C) December 31,2018
D) December 31,2019
Correct Answer:
Verified
Correct Answer:
Verified
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