Problem 10-18 Transactions Between Partners and the Partnership (LO 10.6) Rhianna owns a two-thirds interest in the ANTI Partnership and a 75-percent interest in the LOUD Partnership. In the current year, ANTI sells property to LOUD at a loss of $10,000. Later in the same year, LOUD sells the same property to an unrelated party for a $2,000 gain. What is the amount of gain or loss recognized by ANTI and LOUD on the sale of this property? $ The At-Risk Rule (LO 10.8) Octavio starts the year with outside basis of $23,000 and an amount at-risk of $23,000 in his 40 -percent general partnership interest in Brown Partnership. In the current year, the partnership distributes $5,000 to Octavio. His share of allocated ordinary income is $3,000. The partnership also takes on nonrecourse debt of $20,000 (none of which is qualified nonrecourse financing). Compute Octavio's ending outside basis and amount at-risk. Partnership Formation (LO 10.2) Sioux in exchange for providing services worth $10,000 and $170,000 cash. If an amount is zero, enter "0". a. What amount of gain or loss must Kele recognize as a result of transferring the property to the partnership? b. What is Kele's basis in the partnership interest immediately after the formation of the partnership including allocation of partnership liabilities? c. What is the partnership's basis in the property contributed by Kele? $70,00 $ e. How much income does Nova recognize on the exchange? x