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1. Traded salaries has to be within 15% of each other, unless one team has the cap space to take on the contract.
2. Picks can be in consecutive drafts, but one of the consecutives has to be in the present year. And you can trade picks up to 5 years from present year onward.
3. You cannot put protections on picks.
4. Cutbacks are allowed. A cutback is when ones salary is used in a trade, but instead of the player going to the other team, he stays on his team while the other team takes the rest of the salary.
For example, Allen Iverson is traded to the Lakers on a cutback. Lakers then have to take on his 5 year, $61 million dollar salary.
5. If you cutback a player, you lose his bird rights.
6. GM Cash can be traded.
7. Draft Picks carry a $0 amount