The SAI CPA firm has a new partnership client, Marc Tools. A recent partner, Becky Carter, obtained a partnership interest in exchange for property contributed. Which of the following statements is true when property is contributed in exchange for a partnership interest? Any contributed property in a partnership has a carryover basis, and the character of the property is determined by the way the contributing partne used the property. The partnership's inside basis is typically increased by any gain the partner recognizes from the property contribution. The holding period for a partner's partnership interest depends upon the type of assets a partner contributes. Services are not allowed to be contributed to a partnership in return for a partnership interest. All of these choices are true