1. Tables and Calculations: Excel Documentation - IN EXCEL SHEET ANSWER QUESTION:

A. Analyze the personal income tax consequences and value over the next 24 months as a result of the overall proposed tax strategy. Consider justifying the strategy in comparison to an alternative transaction.

Prompt: You are an associate in a boutique tax consulting firm that specializes in the real estate industry. You have been assigned to work with a client who needs advice on the tax implications of his business holdings, which include Skyscrapers, a commercial real estate firm organized as a sole proprietorship with a fair market value of $1 billion. He is considering transferring partial ownership of the Skyscrapers to both of his children and selling a 10% interest to an unrelated third party.