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If the conditions of IRC section 721 are satisfied, in general, which of the following will occur? a- No gain is recognized to the incoming

If the conditions of IRC section 721 are satisfied, in general, which of the following will occur?

a- No gain is recognized to the incoming partners.

b- No loss is recognized to the incoming partners.

c- No gain is recognized to the newly formed partnership.

d- No loss is recognized to the newly formed partnership.

e- All of the above.

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