In the current$$ year, Tom$,$ Gill$,$ and Kim form Water Corporation. Tom contributes land$($a capital$$ asset$)$ having a $$75,000$ FMV$($fair market$$ value$)$ in exchange for $135$ shares of Water stock. He purchased the land three years ago for $$140,000.$ Gill contributes machinery$($Sec$.1231$ property purchased four years$$ ago$)$ having a $$100,000$ adjusted basis and a $$45,000$ fair market value$($FMV$)$ in exchange for $105$ shares of Water stock. Kim contributes services worth $$30,000$ in exchange for $30$ shares of Water stock.

a$.$ What is the amount of Tom$\text{'}$s recognized gain or$$ loss?

b$.$ What is Tom$\text{'}$s basis in his Water $$shares$?$ When does his holding period$$ begin?

c$.$ What is the amount of Gill$\text{'}$s recognized gain or$$ loss?

d$.$ What is Gill$\text{'}$s basis in his Water $$shares$?$ When does his holding period$$ begin?

e$.$ How much$$ income, if$$ any, does Kim $$recognize$?$

f$.$ What is Kim$\text{'}$s basis in her Water $$shares$?$ When does her holding period$$ begin?

g$.$ What is Water$\text{'}$s basis in the land and the$$ machinery? When does its holding period$$ begin? How does Water treat the amount paid to Kim for her$$ services?