Which of the following statements regarding transfers of property or services is true? O O O For a transfer of property to a corporation, no gain is recognized by the taxpayer if the A. transferred property is encumbered with liabilities in excess of the taxpayer's basis in the property. If receipt of stock is subject to a substantial risk of forfeiture, income is recognized by the B. recipient in the year the stock is received even though the substantial risk of forfeiture has not lapsed. If the contributing partner receives a capital interest in the partnership upon contribution of C. services, the contributor will be taxed on the transfer when the contributor actually receives profits. In order for an exchange of services to a partnership for a profit interest to qualify as a D. nontaxable event, the service partner must provide services to the partnership or for its benefit, and the services must be provided by the service partner in his capacity as a partner.