Question: On July 1, Year 4, Adam received, in complete liquidation of his partnership interest, securities with an adjusted basis to the partnership of $40,000. The partnership purchased the securities on January 15, Year 1. Adam became a partner on August 1, Year 3. What date does Adam's holding period for the securities begin? A. August 1, Year 3. B. August 2, Year 3. C. July 1, Year 4. D. January 15, Year 1.