How long after the initial exchange does a taxpayer have to identify replacement property in a like-kind exchange?

Multiple Choice

• The like-kind property to be received must be identified within 45 days.

• The like-kind property to be received must be identified by the earlier of 45 days or the last day of the taxpayer's taxable year.

• The like-kind property to be received must be identified within 180 days.

• There is no deadline for the identification of replacement property.

• All of the choices are correct.

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