1.Ordinary income from a partnership is not considered self-employment income.

True

False

2.All of them income/gain and expense/loss items affect a partner's basis in his or her partnership interest.

True

False

3.Nondeductible partnership items do not decrease a partner's basis in the partnership interest.

True

False

4.Typically, a partner does not recognize a gain when he or she receives a current distribution.

True

False

5.A pre-contribution gain occurs when a partner contributes appreciated property to a partnership and, within seven years, the partnership distributes the same property to another partner.

True

False