2.08.3 Contributions to a Partnership (4)

Question 問題、
Earl acquired a 20% interest in a partnership by contributing property that had an adjusted basis to him of $8,000 and that was subject to a mortgage of $12,000. Which of the following results is correct?

A. Capital Gain Recognized $1,600; Basis of Partnership interest $1,600.

B. Capital Gain Recognized $0; Basis of Partnership interest $(1,600).

C. Capital Gain Recognized $4,000; Basis of Partnership interest $8,000.

D. Capital Gain Recognized $1,600; Basis of Partnership interest $0.

The correct answer is 正解は、[D. Capital Gain Recognized $1,600, Basis of Partnership interest $0.]
負債の減少分$96,000 (= $12,000 x 80%) が、拠出した資産のbasis $8,000を超過しているため、差額$1,600についてgainを認識する。