Sidney's building which is used in his trade or business with an adjusted basis of $60,000 is destroyed by fire on August 15, 2019. Sidney is a calendar year taxpayer. On November 7, 2019, he receives an insurance reimbursement of $120,000 for the loss. Sidney invest $90,000 in a new building Until what date does Sidney have to make a new investment and quality for the nonrecognition election

A. What is Sidney's realized gain?

B. What is Sidney's recognized pain?

C. What is Sidney's deferred gain?

D. What is Sidney's basis in new building?

Assume the same tacts as above, except Sidney receives $40,000 of Insurance proceeds.

E. What is Sidney's realized gain?

F. What is Sidney's recognized gain?

G. What is Sidney's deferred gain?

H. What is Sidney's basis in new building?