The SSC Partnership balance sheet includes the following assets on December 31 of the current year:

	Basis		FMV
Cash	$180,000		$180,000
Accounts receivable	-0-		60,000
Land	90,000		120,000
Total	$270,000		$360,000

Susan, a 1/3 partner, has an adjusted basis of $90,000 for her partnership interest. If Susan sells her entire partnership interest to Emma for $120,000 cash, how much capital gain and ordinary income must Susan recognize from the sale?

Multiple Choice :

$30,000 ordinary income.

$30,000 capital gain.

$10,000 ordinary income; $20,000 capital gain.

$10,000 capital gain; $20,000 ordinary income