If appreciated property is contributed to a partnership in exchange for a partnership interest, what basis will the partnership have in the property What basis will the partner have in the partnership interest ...

The partnership assigns a carryover basis to assets that are contributed by ...

If appreciated property is contributed to a partnership in exchange for a partnership interest, what basis will

Question:

If appreciated property is contributed to a in exchange for a interest, what basis will the have in the property? What basis will the partner have in the interest?
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...