R owns 60% of RJ partnership. J owns the other 40% of RJ Partnership. R sells property to RJ partnership for $1,000. He used the property as a capital asset. His tax basis in the property was $300. RJ partnership also uses the property as a capital asset.

- What are the income tax consequences to R upon the sale of the property to the partnership?

- Where would you search to obtain credible facts that answer this question?