I need two answers please
Billy Barker, a single taxpayer, has basis in IRC 1244 stock of

$150,000.  Billy sells the stock for $60,000.  What is his gain or loss? How much is ordinary? How much is capital?

Krissy Kraus and Manny Martin form K&M Corp.  Krissy transfers land with an adjusted basis of $20,000 for stock worth $18,000 and $3,000 cash.  Manny transfers a backhoe with an adjusted basis of $20,000 for stock worth $11,000 and $8,000 cash.  What is Krissy’s realized gain/loss?  Will she recognize any of that gain/loss? What is Manny’s realized gain/loss? Will he recognize any of that loss?

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