Income Concepts (LO. 4) Postum Partnership purchases a building in 2017 for $253,700. It deducts $6,230 in depreciation on the building in 2017, $7,120 in 2018, $7,120 in dropdown 2019, and 2020. It sells the building in 2020 for $264,100. What is the partnership's gain or loss on the sale of the building? The partnership's gain on the sale of the building is $ Feedback Check My Work For capital assets, gains or losses are recognized only after determining the asset basis.