ASSUME ALL CORPORATIONS ARE C CORPORATIONS

Jill Smith and her husband John Smith, along with their friend Paul Yang, formed a corporation-J and J Corp. on 6/15/2014. The corporation is a manufacturer of tires which it sells to the retail market. Jill contributed $500,000 for a 45 common shares of the company. John contributed a building with an adjusted basis to him of $200,000 and a fair market value of $500,000 for 45 common shares of J and J Corporation. Paul contributed services worth $55,000 for the 10 remaining shares of the J and J. 1- Is his a taxable exchange under IRC 351? 2 - What are the tax implications to Jill, John and Paul 3-What is the basis of the stock to Jill, John and Paul 4-what is the basis of the building to J and J Corp?