Jon and Ellyn form a corporation. Jon transfers inventory with a fair market value of $500,000 and a tax basis of $200,000 in exchange for 500 shares of EJ, Inc.Elyn transfer machinery and equipment with a fair market value of $500,000 and a tax basis of $450,000 in exchange for 400 shares of E). In stock and cash of $100,000 Ellyn originaly purchased the equipment for $700,000 and claimed $250,000 of deprecintion on it What tax basis do Jon and Elly have in their EJ. In stock? O A. Jon's basis is $500,000 and Elyn's basis is $400,000 B. Jon's basis is $200,000 and Ellyn's basis is $450,000 OG Jon's basis is $200,000 and Ellyn's basis is $100.000 OD. Jon's basis is $200.000 Elyn's basis in $500,000 Jon and Ellyn form a corporation. Jon transfers inventory with a fair market value of $500,000 and a tax basis of $200,000 in exchange for 500 shares of EJ, Inc.Elyn transfer machinery and equipment with a fair market value of $500,000 and a tax basis of $450,000 in exchange for 400 shares of E). In stock and cash of $100,000 Ellyn originaly purchased the equipment for $700,000 and claimed $250,000 of deprecintion on it What tax basis do Jon and Elly have in their EJ. In stock? O A. Jon's basis is $500,000 and Elyn's basis is $400,000 B. Jon's basis is $200,000 and Ellyn's basis is $450,000 OG Jon's basis is $200,000 and Ellyn's basis is $100.000 OD. Jon's basis is $200.000 Elyn's basis in $500,000