Friday, January 19

2:30PM - 5:30PM

Real Estate

Chair:  James M. Lowy, Ernst & Young LLP, San Francisco, CA.

2:30pm                  Opening Remarks by the Chair.

2:35pm                  Related Party Exchange Transactions.   This panel will 
                             explore guidance regarding the application of section 
                             1031(f) and explore the parameters of the exception in 
                             section 1031(f)(2)(C). Moderator: Howard J. Levine, 
                             Roberts & Holland LLP, Washington DC. Panelists: 
                             Todd D. Keator, Thompson & Knight LLP, Dallas, TX; 
                             Edward S. Cohen, Deputy Associate Chief Counsel, 
                             Income Tax & Accounting, IRS, Washington, DC; Steve 
                             Toomey, Senior Counsel, Income Tax & Accounting, 
                             Branch 4, IRS, Washington, DC.

3:20pm                  Goodwill in Real Estate Transactions.  The panel will 
                             explore the allocation of purchase price to goodwill and 
                             other intangibles in real estate transactions.  The tax 
                             consequences of such allocations will be examined, 
                             including the impact on REITs and other institutional 
                             investors. Moderator: David Miller, Ernst & Young LLP, 
                             Dallas, TX. 

3:45pm                  Charitable Contributions of Facade Easements and 
                             Other Real Estate Interests.  This panel will discuss 
                             charitable contributions of various real estate interests to 
                             charity, including facade and conservation easements.  
                             Moderator: William D. Elliott, Attorney at Law, Dallas, 
                             TX.  Panelists: Elizabeth Paris, Tax Counsel, Senate 
                             Finance Committee, Washington, DC; Scott Y. Barnes, 
                             Warren & Sinkler LLP, Charleston, SC; Suzanne Ross    
                             McDowell, Steptoe & Johnson, Washington DC.

4:20pm                  Section 470 Update and Other Hot Topics.  This panel 
                             will discuss recent legislative developments with respect 
                             to section 470 and other developments in real estate 
                             taxation. Moderator: James B. Sowell, Deloitte Tax LLP, 
                             Washington DC.  Panelists: William P. Bowers, Senior 
                             Counsel, Office of Assistant Secretary for Tax Policy, 
                             Department of the Treasury, Washington DC; Carol 
                             Kulish, Deloitte Tax LLP, Washington DC.

4:50pm                  REIT Privatization Transactions.  This panel will explore
                             the recent trend in transactions involving private buyers 
                             of public REITs and the numerous tax issues (REIT, 
                             partnership, and other) that arise in these transactions.  
                             Moderator: A. Christina Arumi, Hogan & Hartson, 
                             Washington DC.  Panelists: C. Ronald Kalteyer, Locke 
                             Liddell and Sapp, Dallas, TX; Lary Wolf, Roberts & 
                             Holland LLP, New York, NY.