Recognition limit
If property is disposed of and gain (determined without regard to this section) is not recognized in whole or in part under section 1031 or 1033, then the amount of gain taken into account by the transferor under subsection (a) shall not exceed the greater of the following:
(i)#
the amount of gain recognized on the disposition (determined without regard to this section), increased as provided in subparagraph (B), or
(ii)#
the amount determined under subparagraph (C).