Q- The following is true with regard to investment partnerships:

a- Partners contributing appreciated securities to an investment partnership in return for partnership interests are required to recognize the realized gain at contribution. b- Partners contributing depreciated securities to an investment partnership in return for partnership interests are not required to recognize the realized loss at contribution. c- An investment partnership is one that has never engaged in a trade or business and at least 80 % of the assets are money and securities. d- Section 721/(b) is the provision that prevents using $721 (a) to accomplish a tax free diversification of an investment portfolio.

e- All of the above are true.