Jared, a Fiscal Year Taxpayer with a August 31st Year-End

Multiple Choice

Jared, a fiscal year taxpayer with a August 31st year-end, owns an office building (adjusted basis of $800,000) that was destroyed by fire on December 24, 2018. If the insurance settlement was $950,000 (received March 1, 2019) , what is the latest date that Jared can replace the office building in order to qualify for § 1033 nonrecognition of gain?

A) December 31, 2018.
B) August 31, 2019.
C) December 31, 2020.
D) August 31, 2021.
E) None of the above.