In 15002500 words describe partnership contributions and distributions. Please include information on the taxability of partnership contributions (Chapter 19) and distributions (Chapter 20) and how the IRS has created various elections to counterbalance or minimize the uneven effects of certain types of distributions.This grading rubric is provided for your reference:Category Possible PointsPartnership contributions 12Partnership distributions 12Elections available to mitigate Inequities 10Spelling/grammar 3Required word count (15002500) 3Late Penalty Total 40