Eddie and Elizabeth are equal partners in a partnership that owns (i) publicly traded stock held for investment with a tax basis of $500,000 and a value of $550,000 and (ii) other assets, which are capital assets, that have a tax basis of $1,000,000 and a value of $200,000. If Eddie, a dealer in publicly traded stock who bas an outside basis of $750,000, sells his interest in the partnership to Richard for $375,000, how much gain or loss is recognized? What is the character of the gain or loss?

Michael invests in Buxus Interests, a partnership. Michael's capital contribution to the partnership consists of $10,000 cash and equipment with an adjusted basis of $120,000 (fair market value of $150,000) subject to a nonrecourse liability of $60,000.   a. Calculate the amount that Michael is at-risk in the activity after making the above contribution?               b. ​ ​ If Michael's share of the partnership loss in the year after he makes the contribution is$150,000, how much of the loss may be deducted in that year (before considering thelimitations on passive losses)? Assume the partnership had no other transactions.                   c. If Michael has any nondeductible loss in part b, what may Michael do with thenondeductible loss?

Heather sells land (adjusted basis, $75,000; fair market value, $85,000) to a partnership in which she controls an 80% capital interest. The partnership pays her only $50,000 for the land. a. How much loss does Heather realize and recognize? b. If the partnership later sells the land to a third party for $80,000, how much gain does that partnership realize and recognize?

Please help me