Quote:
Originally Posted by Cory
Similarities between Ex 4 and Ex 5: no money changed hands, labor was donated by machine shop.
Differences between Ex 4 and Ex 5: Machine shop was listed as a sponsor in TIMS.
I don't see how you could read those two examples and think that Example 5 exists for any reason other than to say "if you did what you did in Example 4, but put the sponsor in your team name instead, you don't have to account for FMV of labor".
Like you said, Q&A will sort it out in short order though.
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Cory's interpretation is how I've always understood it but how I interpret it is unimportant. I second asking it in the Q&A if you are interested.