Water Pump gasket question 360LA

I just put a little RTV silicone on the timing cover and stick the gasket onto that......Then use Teflon on the bolt threads that go into the water cooling passages. Some guys like the liquid Teflon, but I just use the tape. Just make sure that you wrap it around the threads in the right direction (clockwise when viewing the bolt from the thread end)......One man's opinion.
I’d avoid the tape it turns to threads and turns into a mess during rebuilds. The white thread sealant is best for water passages.