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 unmarried proprietorship and owns the aftercited proceeds habitual in 2000:

             

The FMV of the warehouse and the fix are $500,000 and $200,000, respectively. Ed owns 75 % of the accumulation of the Crane Corporation. If he sells the two proceeds ro Crane at a value similar to the FMV of the proceeds, determine the certain fashion and its reputation due to the sale of the:

a. Building

b. Land