Which one of the following is not a requirement of a deferred like-kind exchange?
A. The like-kind property to be received must be identified within 45 days.
B. The exchange must be completed within the taxable year.
C. The like-kind property must be received within 180 days.
D. A third party intermediary is often used to facilitate the exchange.
E. All of these.
Answer: B. The exchange must be completed within the taxable year.