The net recognized built$-$in gain for any year is the least of:

Multiple select question.

the net recognized built$-$in gains and losses for the year.

the net unrealized built$-$in gains at conversion less the net recognized built$-$in gains in previous years.

taxable income for the year without the DRD and NOL.

the net recognized built$-$in gains less net recognized built$-$in gains from prior years.