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13 December, 21:55

Susan, a 1/3 partner, has an adjusted basis of $90,000 for her partnership interest. if susan sells her entire partnership interest to emma for $100,000 cash, what is the amount and character of susan's gain or loss from the sale?

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  1. 13 December, 22:08
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    10000 capital loss; 20000 ordinary income
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