Bertam Transfers Property with a $50,000 Mortgage, a Fair Market

Multiple Choice

Bertam transfers property with a $50,000 mortgage, a fair market value of $350,000, and a basis of $200,000 for stock valued at $300,000. If the corporation assumes the mortgage, what is Bertram's basis in the stock received in this qualifying Section 351 transaction?

A) $150,000
B) $200,000
C) $250,000
D) $300,000