Mercedes owns a 30% interest in Magenta Partnership basis of $52,000), which she sells to Calvin for $65,000.
Mercedes' recognized gain of $13,000 is classified as capital gain.

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The Answer of Mercedes owns a 30% interest in Magenta Partnership basis of $52,000), which she sells to Calvin for $65,000.
Mercedes' recognized gain of $13,000 is classified as capital gain.

Mercedes Owns a 30% Interest in Magenta Partnership Basis of $52,000)