Saturday, January 20

8:30AM - 11:45AM

Sales, Exchanges and Basis

Chair: David Shechtman, Drinker Biddle & Reath LLP, Philadelphia, PA

8:30am                  Opening Remarks by the Chair.

8:35am                  Sales and Exchanges:  Current Developments. 
     Presentation of new cases and rulings affecting sales,
     exchanges and basis (other than section 1031). 
     Moderator:  Professor Erik Jensen, Case Western
     Reserve University School of Law, Cleveland, OH;
     Professor Brad Borden, Washburn University School
     of Law, Topeka, KS.   

9:00am                  Sales and Exchanges of Leasehold Interests.  This panel
     will continue its examination of the tax issues related
     to selling and exchanging leases.  The discussion will
     focus on the tax significance of tenant improvements,
     lease modifications, and the definition of “lease” in
     the context of sales and exchanges.  Moderator: 
     Professor Brad Borden, Washburn University School
     of Law, Topeka, KS; Panelists:  Kelly Alton, Deloitte
     Tax LLP, Washington, DC; Glenn Johnson, Ernst &
     Young LLP, Washington, DC.

9:30am                  Practical Implication of Proposed Tangible Asset
     Capitalization Regulations.  This panel will address
     select issues under the recently proposed regulations
     under section 263(a) with a particular focus on items
     fostering increased complexity for taxpayers. 
     Panelists: Todd B. Reinstein, Pepper Hamilton LLP,
     Washington, DC; George Manousos,
     PricewaterhouseCoopers LLP, Washington, DC;
     Heather Johnson, General Dynamics, Falls Church,
     VA. 

10:10am                Swap and Defease; Can it be Done with Ease?  This
     panel will examine like-kind exchange transactions in
     which there is a requirement to defease a conduit loan
     with a focus on techniques for minimizing taxable
     “boot.”  Moderator: Andrea M. Whiteway, Arnold &
     Porter LLP, Washington, DC. Panelists: David
     Shechtman, Drinker Biddle & Reath LLP, Philadelphia,
     PA; Virginia Stevenson, Kennedy Covington Lobdell
     & Hickman LLP, Charlotte, NC; Andrea Whiteway,
     Arnold & Porter LLP, Washington, DC. 

11:00am                1031 Current Development.  The panel will discuss
     recent rulings, cases and other section 1031
     developments.  Panelists:  Max Hansen, American
     Equity Exchange, Dillon, MT; David Shechtman, 
     Drinker Biddle & Reath LLP, Philadelphia, PA;
     Carlene Miller, Snell & Wilmer, Phoenix, AZ.