$50$ Betsy contributes $$60,000$ in cash to a corporation. In return, Betsy receives from the corporation $100$ shares of common stock with a fair market value $$600$ per share, and an antique art work with a fair market value of $$5,000.$ All of the following are true EXCEPT:

This is a partially nontaxable exchange.

Betsy must recognize a gain of no more than $$5,000.$

Betsy's basis in her stock is $$60,000.$

Betsy cannot deduct a loss on the exchange.