112 the xyz partnership has the following balance

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11.2: The XYZ partnership has the following balance sheet: Basis FMV Land $60,000 $51,000 Accounts Receivable 0 15,000 Inventory 24,000 45,000 Collectibles 3,000 9,000 $87,000 $120,000 Liabilities $30,000 $30,000 Capital, X 21,000 30,000 Capital, Y 18,000 30,000 Capital, Z 18,000 30,000 $87,000 $120,000 If X sells her partnership interest to W for $30,000 cash, what is her gain or loss, and what is its character?
11.3: Maria is a 25% partner in Anton Partners. Anton has the following balance sheets: Basis FMV
Cash $60,000 $60,000 Bonds, stocks, other investments $27,000$54,000 Investment in Breakout Partnership 145,000 270,000 $232,000 $384,000 Capital, Maria $ 58,000 $96,000 Capital, Other Partners 174,000 288,000 $232,000 $384,000 a. Anton has a 15% interest in the profits, losses and capital of Breakout Partnership. Breakout Partnership’s balance sheets are as follows:
b. If Maria sells her interest in Anton Partnership to an unrelated buyer for $96,000, how much gain will she recognize?

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