David and Robert form an equal partnership. David contributed $10,000 cash to the partnership and Robert contributed depreciable property with a fair market value of $10,000 and an adjusted basis of $4,000. 

What is the partnership's basis for depreciation of the property, and how is the depreciation deduction allocated to the partners (assuming the depreciation rate is 10% per year)?

Answer rating: 100% (QA)

The partnerships basis for depreciation of the property is determined based on the higher of the p... View the full answer