A partnership will take a substituted basis in an asset it acquires when:

a. The partnership acquires the asset through an IRC 1031 like-kind exchange.

b. A partner owning 25% of partnership capital and profits sells the asset to the partnership.

c. The partnership leases the asset from a partner on a one-year lease.

d. The partnership acquires the asset from a partner as a contribution to partnership capital under IRC 721(a).

e. The partnership purchases the asset with some of the insurance proceeds from the destruction of a similar asset in a fire and the partnership recognizes a loss on the destruction.