Harry and Sally formed the Evergreen Partnership by contributing the following assets in exchange for a 50 percent capital and profits interest in the partnership: a) How much gain or loss will Harry recognize on the contribution? b) How much gain or loss will Sally recognize on the contribution? c) How could the transaction be structured in a different way to get a better result for Sally? d) What is Harrys tax basis in his partnership interest? e) What is Sallys tax basis in her partnership interest? f) What is Evergreens tax basis in its assets?
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