Gains on Sales or Exchanges Between a Partner and the Partnership

question 3

True/False

Gains on sales or exchanges between a partner and the partnership are treated as ordinary income if the partner owns more than a 50% interest in the capital or profits and the asset that is exchanged is not a capital asset in the transferee's hands.

---

Definitions:

Self-Efficacy

A person’s belief that he or she is capable of producing desired results, such as mastering new skills and reaching goals.

Performance Goals

Objectives aimed at demonstrating competence or achieving a specific standard of excellence in a task.

Approach Goals

Objectives that focus on achieving a positive outcome or moving towards a desirable object or event.

Performance Goals

Objectives aimed at demonstrating competence or achieving a specific standard of excellence in a task or activity.