Mr. Yang just sold his entire 20 percent interest in DK Partnership to an unrelated purchaser for $7,500. Mr. Yang's adjusted basis in the interest was zero, and he had a $12,000 carry forward of DK loss. Identify the tax issue or issues suggested by the following situations and state each issue in the form of a question.

Mr. Yang just sold his entire 20 percent interest in DK to an unrelated purchaser for $7,500. Mr. Yang's adjusted basis in the interest was zero, and he had a $12,000 carry forward of DK loss.
Identify the tax issue or issues suggested by the following situations and state each issue in the form of a question.
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...