1. If a partner contributes appreciated property to a partnership, and the partnership later sells t

1. If a partner contributes appreciated property to a partnership, and the partnership later sells the property, how will the deferred gain be allocated between the partners?2. What is the one transaction which will cause an inside-outside basis disparity, but does not allow a Code Sec. 754 election?3. What amount is a contribution of property recorded at for tax purposes and what amount is it recorded at for book purposes?4. How does a partner determine the holding period of his partnership interest?5. How does a partnership determine the holding period of assets contributed by the partners?6. If depreciable property is contributed to the partnership, what depreciation method should the partnership use to depreciate it?7. If a partner contributes encumbered property and has net debt relief (a net decrease in her liabilities) as a result, it is treated as a deemed distribution to the partner of what?8. Under what circumstances will a partner contributing encumbered property to a partnership have to recognize a gain?9. Does the depreciation recapture potential of contributed property carry over to the partnership?10. Juan contributes three parcels of property to the JKL Partnership in exchange for a 40% interest in the partnership. The properties were as follows:FMV BasisProperty A $120,000 $70,000Property B $180,000 $160,000Property C $100,000 $200,000If Property A is later sold for $140,000, how much gain will Juan recognize? If Property A is later sold for $100,000, how much gain will Juan recognize?

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