Albert contributes a Sec. 1231 asset to a partnership on June 1 of this year in exchange for a 10% partnership interest. He had purchased the asset on March 1, 2002. His holding period for the partnership interest begins March 1, 2002 March 2, 2002 June 1 of the current year. June 2 of the current year.

Albert contributes a Sec. 123I asset to a partnership on June I of this year in exchange for a 10% partnership interest. He had purchased the asset on March 1, 2002, His holding period for the partnership interest begins March 1, 2002 March 2, 2002 June I of the current year. June 2 of the current year