Like-Kind Exchange Agenda

• Kathleen Costello, CMP, Assistant Director, NYU School of Professional Studies, New York, NY

Review of basic requirements for a like-kind exchange, including the definitions of "real property" and “like-kind.”

• Alexa T. Dubert, Esq., Senior Technician Reviewer, Branch 4, Office of Associate Chief Counsel (Income Tax & Accounting), Internal Revenue Service, Washington, DC
• William V. Horan, CES, President, Realty Exchange Corporation, Gainesville, VA
• Glenn M. Johnson, Esq., Principal, EY, Washington, DC
• Robert D. Schachat, Esq., Managing Director, BDO USA, Washington, DC

Ethics issues, including professional standards for tax advice, conflicts of interest and preparation of documents.

• Aaron S. Gaynor, Esq., Partner, Roberts & Holland, New York, NY
• William V. Horan, CES, President, Realty Exchange Corporation, Gainesville, VA
• Matthew E. Rappaport, Esq., Partner, Falcon Rappaport & Berkman PLLC, New York, NY

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 of boot, partnership distribution of tenancy-in-common interests in partnership property (drop and swap), including DST conversion (synthetic drop and swap), distribution of QI or buyer’s note and partnership division.

• Terence F. Cuff, Esq., Counsel, Loeb & Loeb, Los Angeles, CA
• Matthew E. Rappaport, Esq., Partner, Falcon Rappaport & Berkman PLLC, New York, NY
• Louis S. Weller, Esq., Weller Partners, Sausalito, CA

Acquisitions and dispositions of partnership interests and other partnership transactions involving like-kind exchanges.

• Aaron S. Gaynor, Esq., Partner, Roberts & Holland, New York, NY
• Robert D. Schachat, Esq., Managing Director, BDO USA, Washington, DC
• David Shechtman, Esq., Shareholder, Flaster Greenberg PC, Conshohocken, PA

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 E. Andrews, CPA, Partner, PwC, San Jose, CA
• Alexa T. Dubert, Esq., Senior Technician Reviewer, Branch 4, Office of Associate Chief Counsel (Income Tax & Accounting), Internal Revenue Service, Washington, DC
• Glenn M. Johnson, Esq., Principal, EY, Washington, DC
• David Shechtman, Esq., Shareholder, Flaster Greenberg PC, Conshohocken, 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, Los Angeles, CA
• Louis S. Weller, Esq., Weller Partners, Sausalito, CA

Impact of cost seg studies on relinquished and replacement property, interplay of sections 1031 and 1245, installment sales and other like-kind exchange issues.

• Anne E. Andrews, CPA, Partner, PwC, San Jose, CA
• Glenn M. Johnson, Esq., Principal, EY, Washington, DC

Open Questions & Answers

All Panelists

LEARNING OBJECTIVES
Upon completion of this program, you will have acquired a broad-based foundation in state and local taxation, as well as a basis for comparing and contrasting the various states’ systems of taxation with each other, and with the Internal Revenue Code:

• Constitutional limitations on the ability of states to tax kinds of income and categories of taxpayers generally
• The essentials of multistate income taxation including allocation and apportionment of income with respect to taxpayers with residence or operations in more than one state
• The essentials and principles of non-income based taxes with emphasis on sales and use taxes

Program Level: Basic • Prerequisite: No Prerequisite