The PW Partnership';s balance sheet includes the following assets immediately before it liquidates: 
In complete liquidation, PW distributes the cash to Pamela and the unrealized receivables to Wade (equal partners) . Pamela and Wade each have an outside basis in PW equal to $5,000. PW has no liabilities at the time of the liquidation. What is the amount and character of Wade's recognized gain or loss?
Definitions:
Avoid Ethnocentrism
The practice of refraining from making judgments about other cultures based on the standards and norms of one's own culture.
Interpersonally
In a manner that pertains to or occurs between individual persons.
Politics From The Person
The idea that personal beliefs, values, and experiences significantly influence one's political views and actions.
Social Decentering
The psychological process of considering and adapting to the thoughts, feelings, and perspectives of others.
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