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Form 1065, Schedule L Balance Sheet Per Book, the capital account is out of balance. How should I reconcile? .

Level 1

A family of four formed a holding LLC taxed as partnership in 2018.  Parents transferred a duplex rental property with a FMV of $319,375 and an adjusted basis of $106,560  to partnership.  The son and daughter contributed no cash, but each received $30,000 of the parents' duplex value.  I want to clarify 

1.  Form 1065: Is the partnership's basis of the rental property for depreciation the same as the transferor's (parents') adjusted basis $106,560 on Schedule E of Form 1040?

2.  Is the partnership holding period same of the transferor's (parents') holding period (date placed in service was 2/2/2006)?

3.  The capital account of all four partners is the FMV ($319,375) of the property under the Equity & Liability section, but the basis of building and land is only $106,560 under Assets section. How should I reconcile the difference on Schedule L Balance Sheet Per Book?

4.  I know this is a Section 721a - No gain or loss is recognized.  Should Box M checked "Yes" that the partner contribute property with a built-in gain or loss? 

5.  Can partnership use the Tax Basis for Capital Account in Box L of Schedule K-1?

6.  Is there any IRS form or statement (same as the statement required under Section 351 for the transfer of property to corporation) required to file for the transfer of property to partnership?   

Thanks in advance for your time and advice.

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