Three individuals from skylark cooperation with the following contributions: Cliff cash of $50,000 for 50 shares; Brad, land worth $20,000 (basis of $11,000) for 20 shares; and Ron , catle worth $9000(basis of $6,000) for 9 shares and services worth $21,000 for 21 shares.

a.These transfers are fully taxable and not subject to S351. b. Ron's basis in his stock is $27,000. c. Ron's basis in his stock is $6000 d. Brad's basis in his stock is $20,000.