Misidentification Noted


The Tax Brief “ More Clarification on 1031 Exchanges ” ( JofA , Jun.03, page 83) needs clarification. On November 25, 2002, the Internal Revenue Service released revenue ruling 2002-83 in Internal Revenue Bulletin (IRB) 2002-49. (It can be found in CCH’s Standard Federal Tax Reporter, vol. 19, pp. 78, 199-24 and 78, 199-25, 2002.)

The article misnamed the ruling as a procedure. It had us in the right town, wrong street. Other than that, it was functionally correct.

William Edwards, CPA
Veltri, Edwards & Associates, PA
Englewood Cliffs, New Jersey

Author’s reply: The term “revenue procedure” was inadvertently used. The IRS released Revenue Ruling 2002-83, not Revenue Procedure 2002-83.

Also, the correct term for TAM should be Technical Advice Memorandum 9748006, not Tax Advice Memorandum (page 84).

Ron Raitz, CCIM
Real Estate Exchange Services Inc.
Marietta, Georgia


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