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What is the latest date Kanye can reinvest the proceeds

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Question - Kanye, a calendar year taxpayer, owns a restaurant supply business (adjusted basis of $190,000). The business is destroyed by a tornado on September 27, 2018. Kanye receives insurance proceeds of $245,000 on February 5, 2019. What is the latest date Kanye can reinvest the proceeds in qualified property to avoid recognition of any realized gain?

September 27, 2020

February 5, 2021

December 31, 2020

December 31, 2021

Reference no: EM133027818

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