Issue Recognition Problems Identify the tax issue or issues suggested by the following situations, and state each

Question:

Issue Recognition Problems Identify the tax issue or issues suggested by the following situations, and state each issue in the form of a question.
Mr. P, a professional architect, entered into an agreement with M under which he designed three buildings for the and transferred a copyright for design software to the Mr. P had no tax basis in this software. In exchange for the services and computer software, Mr. P received a 35 percent interest in M.
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...