No gain or loss is recognized either to the partnership or to any of its partners upon a contribution of property, including money to the partnership in exchange for a partnership interest (code Sec. 721(a)). This is true whether the contribution is

A. made for cash or a promissory note

B. made to an existing partnership or to a newly formed partnership

C. made in the form of services for a capital interest

D. a noncompensatory option received in lieu of a partnership interest