(Answered) Question - g owns a 40 interest in a partnership which had

Accounting

Question - G owns a 40% interest in a partnership, which had a basis of $25,000 at year end before distributions. Because he was in dire need of cash, he convinced the partnership to let him withdraw $30,000 in cash at year end.

What is G's ending partner interest in partnership?

What is G's gain/loss from the distribution?

What is the character: ordinary, capital or 1231?

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