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If the taxpayer qualifies under $ 1033 (non-recognition of gain from an involuntary conversion), makes the appropriate election, and the amount reinvested in replacement property
If the taxpayer qualifies under $ 1033 (non-recognition of gain from an involuntary conversion), makes the appropriate election, and the amount reinvested in replacement property is less than the amount realized, realized gain is: Permanently not subject to taxation. O Recognized to the extent of realized gain. Recognized to the extent of the amount reinvested, O NONE of the choices are correct O Recognized to the extent of the deficiency
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