A Partnership Will Take a Carryover Basis in an Asset

question 79

Multiple Choice

A partnership will take a carryover basis in an asset it acquires when:

• A)The partnership acquires the asset through a § 1031 like-kind exchange.
• B)A partner owning 25% of partnership capital and profits sells the asset to the partnership.
• C)The partnership leases the asset from a partner on a one-year lease.
• D)The partnership acquires the asset from a partner as a contribution to partnership capital under § 721(a).
• E)None of the above.

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Definitions:

Transfer Obstacles

Challenges or barriers that prevent the effective application of new skills or knowledge from the learning environment to the workplace.

Coping Skills

Techniques or strategies that individuals use to manage stress, emotions, or challenging situations.

Positive Transfer Climate

An organizational or educational environment that supports and encourages the application of new skills and knowledge acquired through training to actual work or real-life situations.

Work Environment

An environment at work characterized by factors such as culture, policies, and physical setup that impact employees' performance and satisfaction.