Question: for 1 0 years by the contributing partner and had an adjusted basis to the partner of $ 3 0 0 , 0 0 0

for 10 years by the contributing partner and had an adjusted basis to the partner of $300,000 and a fair market value of $400,000. Which of the following statements regarding these items is true?
a. The partner continues to depreciate the property even after it is contributed to the partnership.
b. ABC cannot depreciate the contributed property.
c. ABC can deduct only $3,000 of the organizational expenses in the current year.
d. ABC's startup expenses are amortized over 60 months.
e. ABC must capitalize the transfer tax and treat the contributed property as a new asset placed in service on the date the property is contributed.
for 1 0 years by the contributing partner and had

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