If a Partner Has a More Than 50 Percent Interest

question 5

True/False

If a partner has a more than 50 percent interest in a partnership,a capital gain resulting from the sale of property to the partnership will be taxed as ordinary income to the partner,provided the property is not a capital asset to the partnership.

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Definitions:

Nonspecific Term

A term that is broad and not detailed, lacking precise definition.

Context

Pertains to the circumstances or setting surrounding a particular event, statement, or idea which gives it additional meaning or understanding.

Institution Of Slavery

A system where individuals are legally owned by others as property and forced to work without the right to refuse or receive proper compensation.

Superior Races

A discredited and harmful belief that certain racial groups are inherently better, smarter, or more deserving of resources and power than others, historically used to justify inequality, segregation, and genocide.