Zayde Is a One-Third Partner in the ARZ Partnership,with an Outside

question 8

Essay

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?

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Definitions:

Effective Scaffolding

An educational approach involving the provision of temporary support to students or learners to help them achieve a task or understand concepts that they would not be able to grasp independently.

Lack of Precision

The state of being vague, not exact or accurate in measurement, description, or execution.

Recognition Memory

the ability to recognize previously encountered events, objects, or people, an important aspect of the memory system.

Planning Behavior

The process of thinking about and organizing the activities required to achieve a desired goal.