Allie contributed the following business assets to ASW Partnership on August 1, 2019:

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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Date Purchased by Allie 07/01/06 Basis $175,000 $ 50,000 FMV $300,000 $100,000 Building Inventory 05/08/16