Alonso Arroyo transfers inventory with a basis of $30,000 and a value of $22,000 to a corporation for stock of equal value. The transfer qualfies under Code Sec. 351 and the stock under Code Sec. 1244.

What gain or loss is realized by Alonso on the transfer?

What gain or loss is recognized by Alonso on the transfer?

If Alonso sells his stock after two years for $13,000, what is his gain or loss?

If Alonso sells his stock after two years for $13,000, what is the character of the gain or loss?