What are As and Bs bases for their partnership interests immediately following the formation of the partnership?

Does A recognize any gain upon the contribution of the property?

Same as above, except A and B form an LLC rather than a general partnership, and there is no deficit restoration obligation.

DRO, is a promise by a partner to make a capital contribution to a partnership if the partner has a negative capital account when the partnership liquidates.

Same as above, except B guarantees the mortgage, B has no right of contribution against A or AB if she is called upon to make payment on the guaranty, and if A is required to make payment on the mortgage, A is entitled to reimbursement from B.

2. A and B form general partnership AB that is not an LLP. A contributes real prop- erty with a fair market value of $100,000 subject to a recourse mortgage of $60,000, in exchange for an 80% interest in the partnership. The basis of the contributed property is $20,000. B contributes $10,000 in exchange for a 20% partnership inter- est. Assume there is a state law assumption of the mortgage by the partnership