Luke receives a property distribution from Vader Enterprises, Inc. (he inherited the corporation from his father). The property has a FMV of $625,000 and the corporation had a basis in it of $715,000. Vader has current E&P of $450,000 and accumulated E&P of ($200,000). At the time of the distribution, Luke had a basis of $375,000 in Vader. 17. What are the tax consequences to Luke? (4 points) 18. What are the tax consequences to Vader? (4 points) Now assume the same facts as above, except that it's a liquidating distribution, Luke's the sole shareholder, and the property's not disqualified property. 19. What are the tax consequences to Luke? (4 points) 20. What are the tax consequences to Vader? (4 points) Luke receives a property distribution from Vader Enterprises, Inc. (he inherited the corporation from his father). The property has a FMV of $625,000 and the corporation had a basis in it of $715,000. Vader has current E&P of $450,000 and accumulated E&P of ($200,000). At the time of the distribution, Luke had a basis of $375,000 in Vader. 17. What are the tax consequences to Luke? (4 points) 18. What are the tax consequences to Vader? (4 points) Now assume the same facts as above, except that it's a liquidating distribution, Luke's the sole shareholder, and the property's not disqualified property. 19. What are the tax consequences to Luke? (4 points) 20. What are the tax consequences to Vader? (4 points)