Problem 11-49 (Lo. 7, 8, 10) At the end of last year, June, a 30% partner in the four-person BJJM Partnership, had an outside basis of $75,000 in the partnership, including a $60,000 share of partnership debt. June's share of the partnership's $ 1245 recapture potential was $40,000. All partles use the calendar year. Identify the income tax consequences to June in each of the following independent situations that take place in the current a. On the first day of the tax year, June sells her partnership interest to Marilyn for $120,000 cash and the assumption by Marilyn of the appropriate share of partnership liabilities. June's total gain is 30.00xcesingof ctal odin d30.00 ndy income a40.00 40,000 30,000 X and ordinary income of A partnership interest is a capital asset and generally results in capital gain or loss on disposal