tax question

In a transaction unrelated to any other, individual H and transferred property to X Corporation on July 17, 2019. H transferred property with a FMV of $1000 and AB of $500, in exchange for 100 shares of X corporation stock. At the time ( July 17, Year 2019) X corporation was already in existence and had one shareholder I, who owned 100 shares.

1. what income, gain or loss, if any, does H recognize as a result of the transaction?

2. what is X adjusted basic in the property contributed by H?

3. how would the answer to I above change, if at all, if on july 17, 2019 I also transferred property with a FMV $50 and AB of $26 for 5 shares of X stock?