Which of the Following Statements Regarding Capital and Profit Interests

Which of the following statements regarding capital and profit interests received for services contributed to a partnership is False?

A) The holding period of a capital or profits interest begins on the date the interest is received.
B) Partners receiving capital interests must recognize the liquidation value of their capital interests as capital gain.
C) Partners receiving only profits interests generally don't recognize income when the profits interest is received.
D) Partners receiving only profits interests include their share of partnership debt in the tax basis of their partnership interest.