QUESTION 1 Proportionate Liquidating Distributions of noncash Partnership Assets including Capital Assets cannot result in a Recognized Gain to the Liquidating Partner but can result in a Recognized Loss to the Liquidating Partner True False QUESTION 2 Vind received a proportionate distribution of Inventory in Complete Liquidation of Vinci's Partnership Interest. If Vinci holds the property as an investment for thirty-six (36) months and then sells it for a Gain, the Gain will be a Long-Term Capital Gain. False True