Q. If I swap collectibles for stock, with no cash involved in the deal, can I defer capital gains taxes?

GUY D. FERNANDEZ, Oaklyn, N.J.

A. No. You can, however, if you swap what the Internal Revenue Service calls “like kind” properties that have been used in a trade or owned as an investment. The term means properties of the same type—two stamp collections, say. But you may never defer taxes on the exchange of one security for another security, “like kind” or otherwise.

Q. What is the shelf life of cognac?

J. PETER SCHERER, Bloomfield Hills, Mich.

A. Connoisseurs say that as long as you don’t open the bottle, cognac will retain its character indefinitely. But don’t expect it to improve, since cognac, unlike wine, does not age in the bottle. Once the bottle is opened, the cognac should keep a year or so.

Q. As a teacher, I have belonged to a tax-sheltered annuity plan for five years. Is there a plan that I can manage myself?

HENRY M. LAWICKI, Roselle, III.

A. No. The IRS permits deferral of taxes only on plans run by an independent manager. If you are dissatisfied with your plan, you can ask whether the management company offers alternative plans, or you may be able to arrange through your school district to transfer your funds to another company’s plan. But in either case you may lose money, since many plans have a front-end load or a penalty for early withdrawal.

Q. My husband and I have a numbered and signed Norman Rockwell collotype print. How do we go about selling it?

PATRICIA MARKS, Fairfield, Ohio

A. First find out how much it is worth. For a free estimate, write to the publisher of your print, identifying it by title or subject, and enclose a copy of the bill of sale. Most Rockwell prints were published either by Circle Fine Arts (108 S. Michigan Ave., Chicago, III. 60603) or Eleanor Ettinger Inc. (305 E. 47th St., New York, N.Y. 10017). The publisher may offer to sell the print on consignment. You can sell it yourself by placing a classified ad in a large newspaper or in such publications as Art News (122 E. 42nd St., New York, N.Y. 10017). If it’s in good condition, a Rockwell collotype—a print struck from a hardened gelatin plate made by a photographic process—may bring anywhere from $500 to $7,000, depending on the subject.

Q. A friend of mine was forced into early retirement. He sued and recently won $15,000 in an out-of-court settlement. Should he report this as income on his tax return?

ROBERT BRAUN, Livonia, Mich.

A. It depends on the wording of the settlement. If it explicitly states that the $15,000 was paid as compensation for damages to your friend’s reputation, the money is not considered income. Otherwise, it must be declared.

Q. Some years ago, we lent our two daughters and their husbands money for down payments on their houses. Both couples have since divorced and we don’t see any way to get our money back. Can we deduct these loans as bad debts on our 1979 return?

FRANK AND ELEANOR PARRY , Mount Clemens, Mich.

A. Only if you can produce formal loan agreements and prove that you attempted to collect. Without documentation, the IRS considers loans within a family to be gifts and may expect you to file a gift-tax return.

Q. How do I find companies that buy old barns for the siding and beams?

ELIZABETH N. RAI, Sparta, N.J.

A. It’s not easy, since many people do it as a sideline and are not listed in the Yellow Pages. A builder who specializes in restoration may help you find such people. Firms that dismantle houses and barns often advertise in publications directed at gentleman farmers or builders—for example. Country Journal (205 Main St., Brattleboro, Vt. 05301) and the Old-House Journal (69A Seventh Ave., Brooklyn, N.Y. 11217). A firm near you that has taken on jobs as far away as Ohio is Black River Restoration Co. (c/o Tom Stretton, 145 Black River Rd., Long Valley, N.J. 07853).

Q. An insurance salesman recently told me that life insurance policies are “immune” from all lawsuits except those involving tax evasion. Is this true?

DENNIS HABECKER , Silver Spring, Md.

A. In most states, yes. The proceeds and cash value of a life insurance policy usually are sheltered from the clutches of creditors as long as the beneficiary is not the insured’s estate. In some states, including Maryland, you are protected if the beneficiary is your spouse, your children or other dependents. Insurance money may be seized, however, not only in cases of tax evasion, but also if it can be proved that the policy was purchased or assigned merely to protect cash from creditors.

Q. When I buy or sell a stock, I notice that there is about a quarter-point difference between the last transaction price and the price I am offered. Is the stock specialist on the floor of the exchange being paid this differential as a hidden charge for his services?

HOWARD F. SMITH, San Luis Obispo, Calif.

A. No. On the stock exchanges, the price the seller gets and the price the buyer pays are identical. The quarter-point difference you have observed results when buyers and sellers can’t be matched at the same price as in the preceding transaction.

Q. Thanks to a recent item in Money, we will deduct all but $100 of a casualty loss we suffered when we wrecked an auto on which we had no collision insurance. We gave the wreck to a local vocational school for their use but had to pay $150 to have it towed there. Are the towing charges deductible?

HARRIETT LANGDON, Louisville

A. Yes. As long as the school has tax-exempt status, the towing charges qualify as expenses in connection with a charitable gift. You could also take a charitable deduction for the difference, if any, between the dollar amount of the damage to the car and its fair market value before the accident.

Q. Can you provide me with a list of colleges offering hotel-management degrees?

HERMAN DANIELS, Richmond

A. Over 400 schools in the U.S. and Canada offer programs in hotel management. About 75 grant four-year undergraduate degrees; the rest are junior colleges, vocational and graduate schools. For a complete list, send $2.50 to the Council on Hotel, Restaurant & Institutional Education (Human Development Bldg., University Park, Pa. 16802).

Q. My company requires me to wear business suits to work. At no other time do I wear suits. Can I deduct them as work clothes? GENE ARVES Prior Lake, Minn.

A. No. You can deduct the cost of some work clothes, such as nurses’ uniforms, but generally not business suits—because the IRS considers them adaptable for other uses.

Address questions to Money Helps, Time & Life Building, Rockefeller Center, New York, N.Y. 10020.