What would the tax consequences of the proposed plan (moving from individual Sole Proprietorship to a C Corporation) be?

Tax consequences:

Each shareholder's gain/loss realized

The gain/loss recognized

Stock Basis

Andrew contributes the below for 300,000 shares @ $25 common stock

Cash 600,000 FMV 600,000 Adj Basis

Equipment 69,000 FMV 150,000 Adj Basis

Note Payable 1,350,000 FMV 1,350,000 Adj Basis

Lucy contributes the below for 300,000 shares @ $25 common stock

Cash 2,400,000 FMV 2,400,000 Adj Basis

Equipment 1,800,000 FMV 3,100,000 Adj Basis

Note Payable 600,000 FMV 600,000 Adj Basis

Dan contributes the below for 300,000 shares @ $25 common stock and 30,000 shares @ $40 preferred stock

Equipment 120,000 FMV 165,000 Adj Basis

Land 2,700,000 FMV 1,125,000 Adj Basis

Building 3,150,000 FMV 2,100,000 Adj Basis

Mortgage Payable 1,500,000 FMV 1,500,000 ADj Basis