Question: If property contributed to a partnership was _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

If property contributed to a partnership was ___________________ in the hands of the contributing partner, any gain recognized by the partnership upon sale will be ______________ income or loss if the property is sold within ____ years of contribution. This is an important rule to prevent _______________________ developers from turning ordinary income inventory such as subdivision lots into capital gain property using a partnership.

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