Built-in gain (inherent gain) exists when appreciated property is transferred to an entity in exchange for an ownership interest in that entity. As related to built-in gain, which of the following statements is true? Built-in gain may be triggered if the partnership distributes other partnership property to the A. contributing partner within a 15-year period (7-year period for the years 2009 and 2010 and 5-year period for the years after 2010) after the partner was admitted to the partnership. If any contributed property is distributed (directly or indirectly) by the partnership (other than B. back to the contributing partner) within seven years of being contributed, the contributing partner recognizes gain. C. D. The built-in gain provisions apply to an S corporation that has always been an S corporation in all circumstances. The built-in gain resulting from a conversion of a C corporation to an S corporation is taxed upon disposition of the built-in gain property within eight years of the date of conversion.