1. Nancy, Guy, Rod recognize gain or income? guy's basic in Goldfish stock? Goldfish's basic land and building? Rod's basic in Goldfish stock?

Problems (90 points - You must show calculations 6. Nancy, Guy, and Rod form Goldfinch Corporation with the following consideration. Adjusted Fair Market Basis Value From Nancy- Cash re any $120,000 $120,000 Inventory 90,000 130,000 in live in the Agua stock? From Guy Land and building Aqua Corpora 120,000 250,000 From Rod Legal & accounting services -0- 50,000 Goldfinch issues its 500 shares of stock as follows: 250 to Nancy, 200 to Guy, and 50 to Rod. addition, Guy gets $50,000 in cash