Which of the Following Statements Is Correct with Respect to Qualified

Multiple Choice

Which of the following statements is correct with respect to qualified replacement property in a § 1033 involuntary conversion?

A) If the functional use test applies, a warehouse used to store inventory can be replaced with a smaller building to be used to sell inventory.
B) If the taxpayer use test applies, an office building rented to tenants can be replaced with a shopping mall to be rented to tenants.
C) If the like-kind exchange test applies, a building used by the taxpayer for manufacturing can be replaced with an office building to be used in the taxpayer's business.
D) Only b.and c.
E) a., b., and c.