An existing partner wants to contribute property having a basis less than its FMV for an additional interest in a partnership. a. Should he contribute the property to the partnership

He should not contribute the property to the partnership.

Explanation:

There is an ensuing loss if the partner contributes the property to the partnership instead of a gain.  Partnerships recognize the basis of contributed capital.  They usually compare the fair market value with the book value to determine if a loss has been incurred or a gain made. However, the tax consequences of the contributed property will be allocated to the partner making the property contribution.

the answers are

a, b, c, & e.