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[11] Which of the following statements about the effect of a sale or exchange of a partners interest in a partnership is true? A. The
[11] Which of the following statements about the effect of a sale or exchange of a partners interest in a partnership is true?
A. The partnership may make an election for an optional adjustment to the basis of partnership assets in the year the interest is transferred.
B. The gain on the sale of a partnership interest may not be reported on the installment basis.
C. The entire transaction is always treated as the sale of a capital asset.
D. The exchange of a partnership interest generally qualifies for like-kind exchange treatment
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