Which of the following statements about the transfer of a partnership interest is not true?
A) The seller's adjusted basis for the partnership interest is increased by the seller's share of undistributed partnership income or reduced by partnership loss) for the portion of the partnership's taxable year ending on the date of the sale.
B) The partnership taxable year generally does not close with respect to a partner who transfers a partnership interest at death; all amounts are allocated to the successor.
C) The amount realized on the sale of a partnership interest is the sum of any money and the fair market value of any property received for the interest plus the selling partner's share of partnership liabilities under § 752.
D) With respect to a transfer of a partnership interest by gift, all partnership gain, loss, credit, etc., items are allocated between the donor and the donee.
E) All of these are true statements.

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The Answer of Which of the following statements about the transfer of a partnership interest is not true?
A) The seller's adjusted basis for the partnership interest is increased by the seller's share of undistributed partnership income or reduced by partnership loss) for the portion of the partnership's taxable year ending on the date of the sale.
B) The partnership taxable year generally does not close with respect to a partner who transfers a partnership interest at death; all amounts are allocated to the successor.
C) The amount realized on the sale of a partnership interest is the sum of any money and the fair market value of any property received for the interest plus the selling partner's share of partnership liabilities under § 752.
D) With respect to a transfer of a partnership interest by gift, all partnership gain, loss, credit, etc., items are allocated between the donor and the donee.
E) All of these are true statements.

Which of the Following Statements About the Transfer of a Partnership