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ART DODGER RECEIVED A 5% INTEREST IN ABC ASSOCIATES, A PARTNERSHIP FORMED TO MANAGE A SHOPPING CENTER. THE INTEREST IS CONTINGENT UPON ART'S ABILITY TO
ART DODGER RECEIVED A 5% INTEREST IN ABC ASSOCIATES, A PARTNERSHIP FORMED TO MANAGE A SHOPPING CENTER. THE INTEREST IS CONTINGENT UPON ART'S ABILITY TO OBTAIN TENANTS. THE PARTNERSHIP'S ASSETS WAS $ AND DEBT WAS $ AT THAT POINT. WHAT IS THE TAX EFFECT TO THE PARTNERSHIP AND TO ART DODGER IF: 1) ART DODGER OBTAINED THE EQUITY INTEREST IMMEDIATELY? 2) ART DODGER DID NOT OBTAIN AN EQUITY INTERESTIMMEDIATELY AND DOES NOT MAKE A CODE SECTION 83 (B) ELECTION? 3) ART DODGER DOES MAKE A CODE SECTION 73(B) ELECTION?
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