K A taxpayer's building that is subject to CCA is destroyed by a tornado. Because the insurance proceeds received from the loss are greater than the original cost of the building, OA. the taxpayer can claim a capital loss equal to the amount of UCC on the building O B. there is no taxable capital gain since insurance proceeds are non-taxable O C. the taxpayer must include the taxable portion of the capital gain in net income for the year O D. the taxpayer can defer the gain by purchasing replacement property during the appropriate time period and making an election in the taxpayer's return of income