Item$2$

$4$points

eBook

Item $2$

Roberta transfers property with a tax basis of $$400$ and a fair market value of $$500$ to a corporation in exchange for stock with a fair market value of $$350$ in a transaction that qualifies for deferral under section $351.$ The corporation assumed a liability of $$150$ on the property transferred. What is the amount realized by Roberta in the exchange?

Multiple Choice

$$500$

$$400$

$$350$

$$250$