luke family corporation is owned as follows: josh -200 shares, josh son, jack -200 shares dale- 300 shares river family corporation - 300 shares, jack owns 40% of wind family. dale is unrelated. luke family redeems all of josh shares for 55 per share on 12/31. josh adjusted basis is 6000 (30 per share)

assume luke family has total e&p for 150000

1. does josh qualify for sale/exchange treatment

2.are there any other options for josh if he qualifies for sale/exchange

3. assume josh receives sale/exchange. what capital gain would be tecognized

4. how much does luke family reduce total e&p if josh receives sale/exchange