Final Answer:
The given statement "the time frame for acquiring replacement property after the realization of gain" is False.
Thus the correct option is B.
Step-by-step explanation:
The statement is false regarding the time frame for acquiring replacement property after the realization of gain. In the context of tax-deferred exchanges, particularly under Section 1031 of the Internal Revenue Code, there are strict timelines that must be adhered to. After the sale of the original property (referred to as the relinquished property), the taxpayer has 45 calendar days to identify potential replacement properties. Following the identification period, the taxpayer then has a total of 180 calendar days from the sale date to complete the acquisition of the replacement property.
The identification and acquisition timelines are critical components of like-kind exchanges, and failure to meet these deadlines may result in the recognition of capital gains. Therefore, it is essential for taxpayers engaged in such transactions to be diligent in adhering to these time frames to ensure the tax-deferred nature of the exchange.
Thus the correct option is B.