After a § 721 Contribution by a Partner to a Partnership

question 92

True/False

After a § 721 contribution by a partner to a partnership, the partner's basis for his or her ownership interest is the same as the basis of the assets contributed (no liabilities are involved).

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Definitions:

Predictor Variable

A variable that is used in statistical models to predict or explain changes in a dependent variable.

Adjusted

A term referring to modifications or changes applied to data or statistical measures to account for various factors, enhancing accuracy or comparability.

Adjusted Value

A modification of financial or numerical data to account for changes or for better comparison, often used in accounting and finance.

Explained Variation

The portion of the total variation in a dataset that is accounted for by the model's predictor variables.