a. 33) In a 1031 exchange, a piece of real estate in Manhattan Can be exchanged for just about any other real estate in the United States b. Can only be exchanged for another piece of real estate in New York State C. Does not include air rights d. Can be exchanged for an interest in a real estate partnership as long as the partnership has the same number of partners 34) 1031 Exchanges a. Must be simultaneous b. Cannot include cash c. May use a Qualified Intermediary d. Replacement property must be identified within 60 days