please answer below true and false queations

A partner that receives marketable securities in a non-liquidating distribution recognizes gain when the value of the securities exceeds his outside basis.

The built-in gains tax only applies to S-corporations that formerly operated as C- corporations.

Jimmy has an outside basis of $250,000. Jimmy receives a non-liquidating cash distribution of $25,000. Jimmys basis is reduced to $200,000 and he does not recognize any gain on the distribution.

A business engaged in the sale of stocks and bonds for investment purposes only can elect out of Subchapter K.