Which of the Following Statements Is Correct for a §

Multiple Choice

Which of the following statements is correct for a § 1033 involuntary conversion of an office building which is destroyed by fire?

A) An election can be made to postpone gain on a § 1033 involuntary conversion only if the proceeds received are reinvested in qualifying property no later than two years after the end of the tax year in which a proceeds inflow is received that is large enough to produce a realized gain.
B) The postponement of realized gain in a § 1033 involuntary conversion is elective.
C) The functional use test is satisfied if a business warehouse is replaced with another business warehouse.
D) The taxpayer use test is satisfied if a shopping mall rented to tenants is replaced with an office building to be rented to tenants.
E) All of the above are correct.