Jerry and Ann form ABC Corporation. Jerry contributes services of $30,000 along with property with a basis of $10,000 and a FMV of $25,000 in return for 30% of the stock in ABC corporation. Ann contributes property with a basis of 10,000 and FMV of $55,000 in return for 70% of the stock in ABC corporation. Ann recognizes a gain $45,000. True /False