Identify the tax issue or issues suggested by the following situation, and state each issue in the form of a question.
In November, Corporation Q negotiated to sell a tract of land to an unrelated buyer. The buyer refused to close the sale until February. Corporation Q wanted to close the sale by year-end so that the gain would be taxed at its current 25 percent rate. Corporation Q’s rate for next year will be 39 percent. In December, Corporation Q sold the land to its wholly owned subsidiary. In February, the subsidiary sold the land to the unrelated buyer.