Drake is a 50%; general partner in the CD general partnership. On 7/1/2023, CD had the...

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Drake is a 50%; general partner in the CD general partnership. On 7/1/2023, CD had the following balance sheet: Tax Book Basis Value Assets Cash 1,000 1,000 Capital Asset 1 3,000 3,000 Capital Asset 2 6,000 6,000 Total Assets 10,000 10,000 Liabilities Recourse Bank Loan 2,000 2,000 Capital Charlene Drake Total Capital 4,000 4,000 4,000 4,000 8,000 8,000 Drake had previously purchased his partnership interest from Dexter (an original partner in CD). Drake had an outside tax basis in his partnership interest of $8,000 on 7/1/2023. On that date, Drake sold his partnership interest to Dhara for $10,000 cash. How much taxable gain or loss will Drake recognize on the sale (show computations)? Drake is a 50%; general partner in the CD general partnership. On 7/1/2023, CD had the following balance sheet: Tax Book Basis Value Assets Cash 1,000 1,000 Capital Asset 1 3,000 3,000 Capital Asset 2 6,000 6,000 Total Assets 10,000 10,000 Liabilities Recourse Bank Loan 2,000 2,000 Capital Charlene Drake Total Capital 4,000 4,000 4,000 4,000 8,000 8,000 Drake had previously purchased his partnership interest from Dexter (an original partner in CD). Drake had an outside tax basis in his partnership interest of $8,000 on 7/1/2023. On that date, Drake sold his partnership interest to Dhara for $10,000 cash. How much taxable gain or loss will Drake recognize on the sale (show computations)?