Zayde Is a 1/3 Partner in the ARZ Partnership with an Outside

Zayde is a 1/3 partner in the ARZ partnership with an outside basis of $156,000 on January 1. Zayde sells his partnership interest to Thomas on January 1st for $180,000 cash. The ARZ Partnership has the following assets and no liabilities as of January 1: $$\begin{array} { l r r } & \underline { \text { Basis } } & \underline { \text { FMV } } \\\text { Cash } & \mathbf { \$2 7 , 0 0 0 } & \mathbf { \$ 2 7 , 0 0 0 } \\\text { Accounts receivable } & - \mathbf { 0 } - & \mathbf { 1 8 , 0 0 0 } \\\text { Inventory } & \mathbf { 1 0 3 , 5 0 0 } & \mathbf { 1 2 1 , 5 0 0 } \\\text { Equipment } & \mathbf { 2 7 0 , 0 0 0 } & \mathbf { 3 3 7 , 5 0 0 } \\\text { Stock investment } & \underline { \mathbf { 6 7 , 5 0 0 } } & \underline { \mathbf { 9 6 , 0 0 0 } } \\\text { Totals } & \underline { \mathbf {\$ 4 6 8 , 0 0 0 } } & \underline { \underline { \mathbf { 6 0 0 , 0 0 0 } } }\end{array}$$ The equipment was purchased for $360,000 and the partnership has taken $90,000 of depreciation. The stock was purchased 3 years ago. What is the amount and character of Zayde's gain or loss on the sale of his partnership interest?