g. 15.2: The XYZ partnership had the following balance sheet: Basis $30,000 $0 $36,000 $0...
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g. 15.2: The XYZ partnership had the following balance sheet: Basis $30,000 $0 $36,000 $0 $66,000 $22,000 $22,000 $22,000 $66,000 FMV Cash $30,000 $48,000 $93,000 $15,000 $186,000 $62,000 $62,000 $62,000 $186,000 Accounts Receivable Land Goodwill Capital, X Capital, Y Capital, Z 000 cash upon his retirement from the partnership. X was a general partner, capital was not a material income-producing factor for the partnership, and retiring partner for the partnership agreement said nothing about making payments to a heir share of goodwill. How would the retirement payment be treated by X and the partnership
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