Like-Kind Exchange Agenda

Review of basic requirements for a like-kind exchange, including 2020 final regulations defining "real property" and like-kind standard for section 1031 purposes.

• Anne Andrews, Partner, PwC, San Jose, CA
• Glenn M. Johnson, Esq., Principal, EY, Washington, DC
• Robert D. Schachat, Esq., Managing Director, BDO USA, Washington, DC

Ethics issues that arise commonly or infrequently, including professional standards for tax advice, conflicts of interest and preparation of documents.

• Matthew E. Rappaport, Esq., Partner, Falcon Rappaport & Berkman PLLC, New York, NY
• Glenn M. Johnson, Esq., Principal, EY, Washington, DC

Structuring like-kind exchanges where some partners want cash and others seek like-kind exchanges, or partners seek exchanges into separate replacement properties, including comparison of special allocations, partnership distribution of tenancy-in-common interests in partnership property (drop and swap), distribution of buyer’s note and partnership division.

• Terence F. Cuff, Esq., Counsel, Loeb & Loeb, Los Angeles, CA
• Robert D. Schachat, Esq., Managing Director, BDO USA, Washington, DC
• Louis S. Weller, Esq., Weller Partners, Sausalito, CA

Parking relinquished or replacement property within or outside the safe harbor of Rev. Proc. 2000-37 and exchanges into build-to-suit replacement property.

• Anne Andrews, Partner, PwC, San Jose, CA
• David Shechtman, Esq., Senior Counsel, Faegre Drinker Biddle & Reath, Philadelphia, PA

Exchanges into and out of a tenancy-in-common or a Delaware statutory trust, including variances from the requirements of Rev. Proc. 2002-22 and Rev. Rul. 2004-86.

• Terence F. Cuff, Esq., Counsel, Loeb & Loeb LLP, Los Angeles, CA
• Louis S. Weller, Esq., Weller Partners LLP, Sausalito, CA

Issues faced by qualified intermediaries, including issuance of a QI note to an exchanging taxpayer, exchanger request for early cash withdrawal of exchange funds and state & local income tax withholding.

• Mary Cunningham, CES, President & CEO, Chicago Deferred Exchange Company, Chicago, IL
• William V. Horan, CES, President, Realty Exchange Corporation, Gainesville, VA
• David Shechtman, Esq., Senior Counsel, Faegre Drinker Biddle & Reath, Philadelphia, PA