A partner owns a capital asset. When will a sale of the asset for a gain to the partnership produce ordinary income? a. When the
A partner owns a capital asset. When will a sale of the asset for a gain to the partnership produce ordinary income?
a. When the partner owns more than 30% of the partnership and the property is not a capital asset in the purchasers hands
b. When the partner owns more than 50% of the partnership and the property is not a capital asset in the purchasers hands
c. When the partner owns more than 50% of the partnership and the property is a capital asset in the purchasers hands
d. When the partner owns more than 30% of the partnership and the property is a capital asset in the purchasers hands
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