Well, if you put only this line then the </if> is missing ...
HTML Code:
<if condition="$post['replylink'] AND $show['multiquote']">
<img src="$stylevar[imgdir_misc]/mq_img_off.gif" alt="$vbphrase[multiquote]" border="0" width="21" height="15" name="multiquote_$post[postid]" id="multiquote_$post[postid]" onclick="toggleMultiQuote($post[postid], this)" style="cursor:pointer" />
</if>
This is the whole code and does compile just fine for me?