Related Party Transactions . Ed operates a storage business as a sole proprietorship and owns the…


Related Party Transactions . Ed operates a storage business as a only proprietorship and owns the forthcoming property adscititious in 2000:

             

The FMV of the warehouse and the plant are $500,000 and $200,000, respectively. Ed owns 75 % of the hoard of the Crane Corporation. If he sells the two property ro Crane at a expense resembling to the FMV of the property, determine the established bring-about and its estimation due to the sale of the:

a. Building

b. Land