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The state condemned Cassidy's land on November 25, 2020. The land has a $400,000 basis. Cassidy received insurance proceeds of $610,000 on January 27, 2021

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The state condemned Cassidy's land on November 25, 2020. The land has a $400,000 basis. Cassidy received insurance proceeds of $610,000 on January 27, 2021 Cassidy has until what date to defer the gain under the involuntary conversion rules? Multiple Choice O December 31, 2023. ( O December 31, 2021. November 25, 2021. O December 31, 2022

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