From: "jeffrey E." <[email protected]> To: Heather Gray < >, Richard Kahn < Subject: Re: Braque Date: Wed, 30 Aug 2017 15:31:55 +0000 Where did you find this QI. What do we know about them ? Why are you paying for their lawyer? On Wed, Aug 30, 2017 at 11:19 AM Jeffrey E. <[email protected]> wrote: Heather, sorry it is not useful . What is useful is how often does the party desk in huge numbers . 1031- sales is true but not really relevant . EXPERIENCE with scale , type . History of requests audits etc . On Wed, Aug 30, 2017 at 11:03 AM Heather Gray < > wrote: The exchange agent does have a resale certificate, but that relates only to its purchase of the Cezannes, not the sale of the Braque. You and I and Leon and I discussed the advantages and disadvantages of a gallery versus a professional exchange agent. A gallery is a more conservative choice for sales tax purposes, but a less conservative choice for 1031 purposes. An exchange agent is more conservative for 1031 purposes, but less conservative for sales tax purposes. From: Jeffrey E. [mailto:[email protected] Sent: Wednesday, August 30, 2017 10:59 AM To: Heather Gray < > Cc: Richard Kahn c ..> Subject: Re: Braque And I thought it was very aggressive. Put kinkdly On Wed, Aug 30, 2017 at 10:58 AM Jeffrey E. <[email protected]> wrote: You had said they had a re-sale certificate. What they did or didn't do is not our problem ---yet . If you recall I was quite clear about not liking the idea and suggested we use a gallery , other than Gagosian. But you told Leon that they " had done this many times before ". On Wed, Aug 30, 2017 at 10:54 AM Heather Gray < > wrote: Hi Jeffrey, I have not given the auditors anything related to you. The exchange agent was responsible for collecting sales tax on the sale of the Braque to the trust, so they need to tell the auditors whether or not they collected the tax, to which the answer is no, they did not. EFTA01036493