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Joe contributed land (a capital asset) to a partnership for a 30% partnership interest on...

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Accounting

Joe contributed land (a capital asset) to a partnership for a 30% partnership interest on March 1, 206. Joe had purchased the land on June 15, 2011 for $25,000 and the land had a fair market value of $50,000 in March 1, 2016. The partnership sold the land on December 10, 2016. In April of 2017 Joe sold his partnership interest. The holding period for Joe's partnership began...

A. December 10, 2016

B. March 1, 2016

C. June 16, 2011

D. One-half on June 16, 2011 and one-half on March 1, 2016

E. None of these

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