This is a long shot but I can't find any IRS guidance in the form of Regs or PLRs.
A client, organized as an LLC, wants to know if they can purchase two buildings to meet the threshold to avoid taxes on the insurance settlement for a building rendered inhabitable by fire. (The fire was not the fault of the client.)
The code only refers to property but does not specifically address if two $5,000,000 buildings can replace a $10,000,000 one.