Allie contributed the following business assets to ASW Partnership on August 1, 2021: What is the holding
Question:
Allie contributed the following business assets to ASW Partnership on August 1, 2021:
What is the holding period for the building and the inventory to ASW Partnership?
a. Building – long-term capital or § 1231 asset.
b. Building – short-term ordinary asset.
c. Inventory – short-term ordinary asset.
d. Both a and c.
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