Section 721 Provides That, in General, No Gain or Loss

question 168

True/False

Section 721 provides that, in general, no gain or loss is recognized by the partnership or the partner on contribution of appreciated or depreciated property to a partnership in exchange for an interest in the partnership.

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Definitions:

Nonverbal Cues

Communication signals that are not spoken or written but are expressed through body language, facial expressions, and other physical behaviors.

Supporting Points

Additional information or arguments that reinforce, explain, or provide evidence for the main idea or thesis.

Enthusiasm

A strong excitement or eagerness about something or about doing something.

Main Ideas

The primary points or concepts that an author wants to communicate to the reader.