1. What are the major tax differences between a casualty involuntary conversion and a condemnation conversion?

2. What type of property is eligible for like-kind exchange treatment?

3. If a taxpayer enters into a like-kind exchange is the provision elective or mandatory?

4. If a taxpayer makes an exchange of a vacant lot held for investment purposes, would the receipt of a duplex in the exchange be considered like-kind property?

5. What could cause a like-kind exchange to be at least a partially taxable event?

6. In a like-kind exchange, generally how is the basis of the like-kind property received determined?

7. Is there such a thing as a delayed exchange? If so what are the basic rules to qualify for the delayed reporting?