If only cash is contributed on the formation of a partnership,outside basis will equal inside basis.

Name: If only cash is contributed on the formation of a partnership,outside basis will equal inside basis.
Brand: Quizplus
Rating: 4.7 (45 reviews)

Question

Quizplus · Accepted Answer

When only cash is contributed on the formation of a partnership, the outside basis of each partner's interest will equal the inside basis of the partnership's assets, resulting in a balanced ratio between outside and inside basis. Therefore, the answer is True.

If Only Cash Is Contributed on the Formation of a Partnership,outside