(The following is an excerpt from our 1031 Advisor newsletter located here )

• The IRS now recognizes television network affiliation agreements as like-kind property. FAA 20072101F
• Exchange of one Vacation Home for another did not qualify for Section 1031 Treatments, Moore v. Comm T.C. Memo 2007-134 (5/30/07)
• In a parking transaction, relinquishing property through qualified intermediary before expiration of 45 days from date replacement property is parked satisfies identification requirement. PLR 200718028
• Section 1031(f)will not apply to trigger gain recognition in related party reverse like-kind exchange using qualified intermediary where related party expects to dispose of relinquished property within two years of acquisition. PLR 200712013