a. The hot assets per Section 741(a) for this sale are as follows:
i. Accounts receivable
ii. Inventory
iv. Potential depreciation recapture in the equipment
b. Marco's gain or loss on the sale of his partnership interest is $33,000.
c. The character of Marco's gain or loss is <u>iv. $33,000 capital gain</u>.
<h3>What is a partnership interest?</h3>
A partnership interest refers to a partner's ownership and benefits that accrue from the partnership.
The partnership interest entitles the partner to participate in the distribution of profits and losses arising from the partnership business.
<h3>Data and Calculations:</h3>
Each partner's outside basis = $104,000
Sale proceeds of Marco's partnership interest = $137,000
Gain = $33,000 ($137,000 - $104,000)
Thus, Marco, who sold his partnership interest to Ryan, had a capital gain of $33,00 because of the difference between the sale proceeds and the partner's adjusted basis in the partnership interest.
Learn more about partnership interests at brainly.com/question/14835194
