7.A partner contributes property to a partnership, and is later distributed cash or other property. How much time must there be between these two events in order for there to be a presumption that this is not a disguised sale? How much time must separate the events for there to be a presumption that it is a disguised sale?
8.Partner D of the equal DEF partnership contributes property (FMV = $100,000, basis = $60,000) to the partnership. One year later, the partnership distributes $50,000 cashto partner D. How is the original contribution and the later distribution treated if it is not a disguised sale? How are they treated if it is a disguised sale?