[Ninja Albert]

Hi All – Becker Question:

if anyone can help me with the following clarification regarding C-corp formation

The final way a corp can be formed is how the 80% rule calculated

3 partners

Larry owns 30% contributed 200k Cash and $100K worth of services
Morgan owns 40% contributed land FV $400k Basis $250k
carl owns 30% contributed land FV $600k Mortgage $300k and basis $150k

What is Morgans basis on Stock and what is Corp basis of property? Is Morgan an example of under 80% or over 80%, because Larry contributed service of $100k?