Assume the abbreviated balance sheet below (shown in fair market values) for a three-person service partnership. All partners were equal 1/3rd partners.

	Value	Tax Basis
Cash	180000	180000
Unrealized Receivables	45000	0
Other Property	60000	48000
Total	285000	228000
Capital	Value	Tax Basis
Lowell	95000	76000
Standish	95000	76000
Mellon	95000	76000

Partner Standish dies on July 31st of the year (the partnership is a calendar year partnership). The partnership agrees to make a $95,000 payment to Standishs estate to buy out the estates interest in the partnership. SELECT THE FALSE STATEMENT FROM THE LIST BELOW

A	Standishs estate will take a fair market value at date of death basis in its share of all partnership assets so it will not recognize any gain on the receipt of the $95,000 from the partnership.
B	The estate will recognize $15,000 of ordinary income upon receipt of the $95,000 just as Standish would have if she had lived.
C	The estate will not recognize any taxable income on $80,000 of the distribution.
D	The partnership tax year will close for partner Standish on the date of death