You should engage competent legal counsel and a tax professional.
With respect to which form to file, you would file Form 1120 if the election was to treat the entity as a C corporation for federal income tax purposes.
Generally, when property is contributed to an entity (such as a corporation), and those contributing property to the entity are in control of the entity immediately after the transfer, then the transfer is tax free,
Again, legal counsel and professional tax guidance is highly recommended.
