1.

Mona received a proprtionate share of inventory in Complete Liguidation of her Partnership Interest. If Mona holds the property as an investment for two (21 year and then sells it for a Gain, the Gain is taxed to Mona as a Long-Term Capital Gain.

a. true

b. false

2.

Veronica uses a vuno so fiscal voar vuy a - vund sO Sho owns a taby percont s0% peott and loss intorest in a calendar yoar January 1 - December 31) PartonshionFo January 1. Zuzz - vocomber 31, Zuzz the Partnorships Taxable Income was $40.000 and for the current year (January 1, 2023 - December the immediately preceding year 31, 2023) the Partnership's Taxable Income was $70,000. During the immediately preceding year (January 1. 2022 - December 31.20221. the Partnershio paid Vercoica Guarantood Payment 01 S3.000 per month. Durine the current vear January 1 2023 - wecembers, zuz the Partnerstvo paid Veronica a suaranteed Payment of $2 000 per month. The remaining fifty percent (50%) interest of the Partnership is owned by Lisa, a calendar year taxpayer (January 1 - December 31) who does not receive any Guaranteed Payments. no amount of income from the Partnersho that voronica must roport on hor personal Federal income ifax Return for her tax wear that ends sune si 2023 is: a.$20,000. b.$36.000.

c.$56.000. d. $59.000.