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Sue has contributed cash to a partnership of $ 5 0 , 0 0 0 . The partnership had $ 5 0 0 , 0

Sue has contributed cash to a partnership of $50,000. The partnership had $500,000 of taxable income and Sue was a 10% partner. In total the partnership has 150,000 of non-recourse debt. Sue sells her partnership interest to Don for $145,000 plus Don assumed the partnerships liabilities allocable to Sue. How much gain/loss does sue have on the sale of her interest?

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