11.4: a. F sells her interest in the equa al FG partnership for $20,000 cash. F's basis, including her share of partnership liabilities, is $40,000. Partnership liabilities are split equally between F and G before the sale. F has owned the partnership interest for more than one year. The partnership owns a $65,000, and are col lection of valuable antiques (holding period: two years) that have a FMV of $50,000 and a basis of $20,000. What is F's gain or loss, and what is the character? b. Would your answer be any different if her holding period for the partnership interest was less than one year