81) Marty is a 40 percent owner of MB Partnership. Marty has decided to sell his interest in the business to Emilio for $100,000 cash plus the assumption of his share of MB's liabilities. Assume Marty's inside and outside basis in MB are equal. MB shows the following balance sheet as of the sale date: Kia Assets: Cash Receivables Inventory Land held for investment Totals Liabilities and capital: Liabilities Capital Totals -Marty -Barry bax000,002 v $120,000 92,000 138,000 $350,000 Basis $160,000 50,000 80,000 60,000 $350,000 What is the amount and character of Marty's recognized gain or loss? FMV $160,000 50,000 170,000 40,000 $420,000 Pok. 40%=361 (45) 40% (80