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28 Sep 2019
True or False: A partner contributes property used in a trade orbusiness to a partnership in return for a partnership interest. Thepartner held the property for 2 years prior to contribution. Thepartner then sells his partnership interest three weeks later. Thecontributing partner will realize a short-term capital gain/loss onthe sale of his partnership interest.
True or False: A partner contributes property used in a trade orbusiness to a partnership in return for a partnership interest. Thepartner held the property for 2 years prior to contribution. Thepartner then sells his partnership interest three weeks later. Thecontributing partner will realize a short-term capital gain/loss onthe sale of his partnership interest.
8
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