When Property Is Contributed to a Partnership for a Capital

question 143

Multiple Choice

When property is contributed to a partnership for a capital and profits interest, the holding period of the contributing partner's interest:

• A)Always starts the day after the contribution date.
• B)Always starts the day the property was contributed.
• C)May include the holding period of the contributed property.
• D)Never includes the holding period of the contributed property.
• E)None of the above.

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Definitions:

Libido

A term used in psychoanalytic theory to denote the energy of the sexual drive as a component of the life instinct.

Unconscious

The part of the mind that contains thoughts, memories, and desires not within immediate awareness but influencing behavior.

Neurotics

Individuals who suffer from neurosis, a psychological condition marked by chronic distress but not by delusions or hallucinations.

Neurotic Anxiety

A psychological condition characterized by excessive worry or anxiety that is not based on any real external threat.