Barbara transfers to Moore Corporation $$10,000$ cash and machinery having a $$15,000$ basis and a $$35,000$ fair market value $($FMV$)$ in exchange for $50$ shares of Moore stock. The machinery

was used in Barbara's business, originally cost Barbara $$50,000,$ and is subject to a $$28,000$ liability, which Moore assumes. Sam exchanges $$17,000$ cash for the remaining $50$ shares of

Moore stock.

Read the requirements.

Requirements

Requirement e$.$ What is Sal

Sam's basis in the Moore st

Requirement f$.$ When do Bo

Barbara's stock

Sam's stock

Requirement g$.$ How would

a$.$ Barbara recognizes

b$.$ Barbara's basis in the Mo

a$.$ What are the amount and character of Barbara's recognized gain or loss?

b$.$ What is Barbara's basis in the Moore stock?

c$.$ What is Moore's basis in the machinery?

d$.$ What are the amount and character of Sam's recognized gain or loss?

e$.$ What is Sam's basis in the Moore stock?

f$.$ When do Barbara and Sam's holding periods for their stock begin?

g$.$ How would your answers to Parts a through $f$ change if Sam received $$17,000$ of Moore stock for legal services $($instead of cash$)?$