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A contribution of property by Partner N to her partnership may be treated as a transaction in which gain or loss is recognized if, after

A contribution of property by Partner N to her partnership may be treated as a transaction in which gain or loss is recognized if, after a short period of time, either before or after the contribution, the partnership distributes other property to N and the property contributed by N is retained by the partnership. True or False, explain answer with code section!

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