Rhonda and Marta form Yo Yo Corporation. Rhonda transfers land (basis of $55,000 and fair market value of $180,000) for 50 shares plus $20,000 cash. Marta transfers $160,000 cash for 50 shares in Yo Yo Corporation.
a. Rhonda's basis in the YoYo Corporation stock is $55,000.
b. Rhonda recognizes a gain on the transfer of $125,000.
c. YoYo Corporation's basis in the land is $55,000.
d. YoYo Corporation's basis in the land is $180,000.
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