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Rajesh contributed appreciated property to the RS Partnership in year 1 . In year 4 , that property was distributed to Simon. Which one of
Rajesh contributed appreciated property to the RS Partnership in year In year that property was distributed to Simon. Which one of the following statements best captures the tax consequences of the distribution? Assume the partnership has no hot assets, the property value has increased since the original contribution, and none of the precontribution gain has previously been recognized.
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