_____ A, B, and C are in partnership and share profits and losses equally. C is retiring. The balance in C's capital account is $60,000. C is to be given a cash bonus of $5,000 as a result of unrecorded goodwill. The partnership has liabilities of $18,000 at the time of C's withdrawal. C's tax basis is $55,000. C's taxable gain or loss is:

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The Answer of _____ A, B, and C are in partnership and share profits and losses equally. C is retiring. The balance in C's capital account is $60,000. C is to be given a cash bonus of $5,000 as a result of unrecorded goodwill. The partnership has liabilities of $18,000 at the time of C's withdrawal. C's tax basis is $55,000. C's taxable gain or loss is:

_____ A, B, and C Are in Partnership and Share