<?xml version="1.0" encoding="UTF-8"?>
<HTML>
<HEAD>
<META content="text/html; charset=us-ascii" http-equiv="Content-Type"/>
<META content="Microsoft Word 12 (filtered medium)" name="Generator"/>
<!--[if !mso]><style>v\:* {behavior:url(#default#VML);}
o\:* {behavior:url(#default#VML);}
w\:* {behavior:url(#default#VML);}
.shape {behavior:url(#default#VML);}
</style><![endif]--><STYLE><!--
/* Font Definitions */
@font-face
{font-family:"Cambria Math";
panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
span.EmailStyle17
{mso-style-type:personal-compose;
font-family:"Times New Roman","serif";
color:black;
font-weight:normal;
font-style:normal;}
.MsoChpDefault
{mso-style-type:export-only;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></STYLE><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1027" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
<o:rules v:ext="edit">
<o:r id="V:Rule1" type="connector" idref="#_x0000_s1026" />
</o:rules>
</o:shapelayout></xml><![endif]-->
</HEAD>
<BODY lang="EN-US" link="blue" vlink="purple">
<DIV class="WordSection1">
<P class="MsoNormal"><SPAN style="font-family:"Times New Roman","serif";color:black">REET is applicable to a sale of a 50% or interest in an entity owning real estate, or to more than one sale “within any 12 month period.” Is anyone aware of DOR arguing that
“any 12 month period” is anything other than 365 days? In other words, if sale 1 occurred December 9, 2013 and sale 2 occurs tomorrow (December 11), are we home free?<O:P/></SPAN></P>
<P class="MsoNormal"><SPAN style="font-family:"Times New Roman","serif";color:black"><O:P> </O:P></SPAN></P>
<P class="MsoNormal"><!--[if gte vml 1]><v:shapetype id="_x0000_t32" coordsize="21600,21600" o:spt="32" o:oned="t" path="m,l21600,21600e" filled="f">
<v:path arrowok="t" fillok="f" o:connecttype="none" />
<o:lock v:ext="edit" shapetype="t" />
</v:shapetype><v:shape id="_x0000_s1026" type="#_x0000_t32" style='position:absolute;margin-left:-.75pt;margin-top:12.75pt;width:243.75pt;height:0;z-index:251658240' o:connectortype="straight" /><![endif]--><SPAN style="mso-ignore:vglayout;position:relative;z-index:251658240;left:-2px;top:16px;width:327px;height:18px"><IMG height="2" src="cid:image001.png@01D01484.7A6348B0" v:shapes="_x0000_s1026" width="327"/></SPAN><SPAN style="color:black"><B><O:P> </O:P></B></SPAN></P>
<BR clear="ALL" style="mso-ignore:vglayout"/>
<P class="MsoNormal"><B><SPAN style="color:black">THOMAS M. CULBERTSON </SPAN></B><B><SPAN style="font-size:14.0pt;color:black"> </SPAN></B><SPAN style="font-size:14.0pt;color:black">I
</SPAN><SPAN style="font-size:10.0pt;color:black"> Lukins & Annis, PS<O:P/></SPAN></P>
<P class="MsoNormal"><SPAN style="font-size:10.0pt;color:black">717 W. Sprague Ave, Suite 1600, Spokane, WA 99201<O:P/></SPAN></P>
<P class="MsoNormal"><SPAN style="font-size:10.0pt;color:black">(509) 455-9555</SPAN><SPAN style="color:black">
</SPAN><SPAN style="font-size:12.0pt;color:black"> I </SPAN><SPAN style="font-size:10.0pt;color:black"> fax (509) 363-2500</SPAN><SPAN style="font-size:12.0pt;color:black"> I
</SPAN><SPAN style="font-size:10.0pt;color:black"> </SPAN><SPAN style="color:black"><A href="mailto:tculbertson@lukins.com"><SPAN style="font-size:10.0pt">tculbertson@lukins.com</SPAN></A></SPAN><SPAN style="font-size:10.0pt;color:black">
<O:P/></SPAN></P>
<P class="MsoNormal"><SPAN style="font-size:10.0pt;color:black"><O:P> </O:P></SPAN></P>
<P class="MsoNormal"><O:P> </O:P></P>
</DIV>
<P><PRE>--
This message has been scanned for viruses
and dangerous content by Lukins & Annis, P.S.

NOTICE: This email may contain confidential or
privileged material, and is intended solely
for use by the above referenced recipient. Any
review, copying, printing, disclosure, distri-
bution, or any other use, is strictly prohibited.

If you are not the recipient, and believe that
you have received this in error, please notify
the sender and delete the copy you received.

Thank You!
</PRE></P></BODY></HTML>