Albert Contributes a Sec

question 2

Multiple Choice

Albert contributes a Sec. 1231 asset to a partnership on June 1 of this year in exchange for a 10% partnership interest. He had purchased the asset on March 1, 2002. His holding period for the partnership interest begins

• A)March 1, 2002.
• B)March 2, 2002.
• C)June 1 of the current year.
• D)June 2 of the current year.

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