If a Partnership Asset with a Deferred Precontribution Gain Is

question 84

True/False

If a partnership asset with a deferred precontribution gain is distributed within seven years of acquisition in a nonliquidating distribution to a partner who did not contribute the asset, the precontribution gain must be recognized by the contributing partner.

---

Definitions:

Biological Reasons

Explanations for behavior or traits based on genetic, neurophysiological, and evolutionary factors.

Stress Disorder

A mental health condition characterized by severe anxiety, distress, or dysfunction resulting from overwhelming stress or traumatic events.

Central Nervous System

The brain and spinal cord.

Nerve Fibers

Long extensions of neurons that transmit electrical signals between the brain and other parts of the body.