Celine is going to be subject to AMT in 2005. She owns the investment building and is thinking of disposing of it and investing in other realty. Based on appraisal of building's value, realized gain would be $85,000. Ed has offered to buy building from Celine with closing date being December 29, 2005. Ed wishes to close transaction in 2005 because certain useful tax consequences will result only if transaction is closed prior to starting of 2006.

Abby has offered to buy the building with closing date being January 2, 2006. Building has $95,000 greater AMT adjusted basis. For regular income tax purposes, Celine expects to be in 25% tax bracket in 2005 and 28% tax bracket in 2006.

prepare down the appropriate tax issues which Celine faces in making her decision?