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.