A purchased partnership interest has a holding period beginning on the date of purchase regardless of the type of property held by the partnership.

Name: A purchased partnership interest has a holding period beginning on the date of purchase regardless of the type of property held by the partnership.
Brand: Quizplus
Rating: 4.7 (37 reviews)

Question

Quizplus · Accepted Answer

The holding period of a purchased partnership interest begins on the date of purchase, regardless of the type of property held by the partnership. This is stated in the tax code under section 1223(8).

A Purchased Partnership Interest Has a Holding Period Beginning on the Date