Which of the following is a true statement in regard to a tax$-$deferred transaction.

The partner$$s basis in the partnership interest received is equal to the basis of the cash

plus all property contributed to the partnership.

The partnership$$s basis in an asset received from the partner is equal to the assets FMV$.$

The depreciation method used for the asset is determined when the partnership acquires the asset in the formation.

The holding period in the partnership interest starts when the contribution is received for contributions of capital assets and Section $1231$ assets.