TB MC Qu$.10-53($Static$)$ Randolph is a $30$ percent partner in the RD$...$

Randolph is a $30$ percent partner in the RD Partnership. On January $1,$ RD distributes $$26,000$ cash to Randolph in complete liquidation of his interest. RD has only capital assets and no liabilities at the date of the distribution. Randolph's basis in his RD Partnership interest is $$37,000.$ What is the amount and character of Randolph's gain or loss on the distribution?

Multiple Choice

$$0$ gain or loss

$$11,000$ capital gain

$$11,000$ ordinary income

Me

H$$w

Prey

$11$ of $13$