Share an example from your life where you had to make a choice knowing that you are giving up opportunities for doing or gaining something else. tell us about your thinking process and how you arrived at the final choice you made. would you make the same choice gain?

Barry owns a 50 percent interest in b& b interests, a partnership. his brother, benny, owns a 35 percent interest in that same partnership, and the remaining 15 percent is owned by an unrelated individual. during 2016, barry sells a rental property with a basis of $60,000 to b& b interests for $100,000. the partnership intends to hold the rental as inventory for resale. what is the amount and nature of barry’s gain or loss on this transaction?