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Sue transferred a building to her newly formed corporation, SUECO, Inc. The building had an adjusted basis to Sue of $75,000 and a fair market value of $150,000 on the date of the transfer. The building was encumbered by a mortgage of $100,000, which SUECO Inc. assumed. On the same day, and in exchange for the building she transferred to SUECO Inc., Sue received 100 percent of SUECO's only class of stock. What is Sue's adjusted basis in the stock she received from SUECO?

a. $25,000.

b. $50,000.

c. $75,000.

d. $100,000

e. none of the above

Accounting Basics, Accounting

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