Which of the following statements is false?

	a.	The holding period of replacement property in an involuntary conversion when the election to postpone gain is made includes the holding period of the involuntarily converted property.
	b.	The holding period of the property surrendered in a like-kind exchange tacks on to the holding period of boot property received in the exchange.
	c.	The holding period of the property surrendered in a like-kind exchange tacks on to the holding period of the like-kind property received.
	d.	Losses incurred on business property involuntarily converted under IRC 1033 cannot be deferred or postponed but are recognized in the tax year the insurance proceeds are received.