If a Partner Contributes Depreciable Property to a Partnership in Exchange

question 68

True/False

If a partner contributes depreciable property to a partnership in exchange for a partnership interest,the depreciation recapture potential of the contributed assets does not carry over to the partnership.

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Definitions:

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, which is a manual for assessing and diagnosing mental disorders.

Disinhibition

The reduction of restraint through the loss of inhibition, which can result in acting out or exploring behaviors typically held in check by societal norms.

Narcissistic Personality Disorder

A mental condition characterized by a long-term pattern of exaggerated self-importance, need for admiration, and a lack of empathy for others.

Obsessive-Compulsive Personality Disorder

A personality disorder characterized by a preoccupation with orderliness, perfectionism, and control, at the expense of flexibility, openness, and efficiency.