Question: If a partner joins a partnership by contributing services, the value of the partner's interest received is: a. Taxed as ordinary income if the interest

If a partner joins a partnership by contributing services, the value of the partner's interest received is:
a. Taxed as ordinary income if the interest is a capital interest in the partnership
b. Deducted by the partnership and allocated to the non-service providing partners if it is a capital interest
c. Not taxed if the interest is a profits interest in the partnership
d. Not deducted by the partnership if the interest is a profits interest
e. All of the above

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