10. Partnerships do not pay "any" taxes including Federal Income Taxes. A) true B) False 11. Tracy owns sixty percent (60%) interest in the capital and profits of the Carmella Partnership. On the sale of property items between Tracy and Carmella partnership, All gains and losses are recognized by the selling party. A) True B) False 12. The "inside basis" of a buying partner is the amount paid (purchase price) plus the selling partners of liabilities of the partnership that are being assumed by the buying partner. A) True B) False 13. Partnerships are not required to pay "any" federal taxes of any type A) True B) False 14. In the event of the death of a partner during the tax year of 2020, the partnership tax year automatically closes with respect to the deceased partner. A) True B) False