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 within $180$ 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.

All of the choices are correct.

There is no deadline for the identification of replacement property.