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Zayde is a one-third partner in the ARZ Partnership,with an outside basis of $156,000 on January 1.Zayde sells his partnership interest to Thomas on January 1 for $180,000 cash.The ARZ Partnership has the following assets and no liabilities as of January 1:
The equipment was purchased for $360,000 and the partnership has taken $90,000 of depreciation.The stock was purchased three years ago.What is the amount and character of Zayde's gain or loss on the sale of his partnership interest?
Lack Of Attention
A deficiency in the ability to focus or concentrate on a task or the present moment, often leading to difficulties in learning or completing tasks.
Hyperactivity
Excessive restlessness and overactivity; one of the primary characteristics of attention-deficit/hyperactivity disorder (ADHD). Not to be confused with misbehavior or with high activity levels that are normal during childhood.
Impulsivity
A tendency to act on a whim, displaying behavior characterized by little or no forethought, reflection, or consideration of the consequences.
Physical Injuries
Harm or damage to the body resulting from external force, accidents, or violence.
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