Williams Corporation sold a truck with an adjusted basis of $100,000 to Barbara for $80,000. Barbara owns

Question:

Williams sold a truck with an adjusted basis of $100,000 to Barbara for $80,000. Barbara owns 25% of the Williams stock. What tax issues should Williams and Barbara consider with respect to the sale/purchase?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...