Wylie is a general partner in a service$-$providing partnership and receives cash of $$290,300$ in liquidation of his partnership interest, in

which he has a basis of $$217,725.$ The partnership owns no hot assets and continues in existence. After following all of the classification

requirements of $736,$$$195,953$ of this amount is classified as a property payment $[736($b$)]$ and $$94,347$ is classified as a guaranteed

payment $736(a)($assume that this payment is for unstated partnership goodwill$).$

As a result of the liquidation proceeds, how much will Wylie recognize as a capital gain or loss, and how much will be ordinary income? How

much can the partnership likely deduct?

Wylie recognizes a $

capital

and he recognizes $

as ordinary income. The partnership can

likely deduct $

which is a guaranteed payment grad$.$