What Form 4797 Defined 2022-2023

Okay, let's continue talking about termination. Termination, you're terminated. Your flyer, alright, we're firing you. Now, what does termination talk about? Termination basically says we've got this partnership and what's happening is we're ceasing the business. So, we're ceasing the business now and ceasing the business. What it says is when a partner wishes to sell their interest to another partner, the amount realized is the sum of so how much is realized. It says the cash and the property received plus the relief from debt. The relief from debt. Now, what we're trying to do is we're trying to say there's kind of a special rule here. Normally, as we said earlier, like when you sell this thing, it's generally considered a what? A capital gain. So, for example, let's see. I'm liquidating, I'm selling out, and I go here's 10, and I got 15. Boom, here's a $5 gain, and I said it's generally a capital gain. Okay, that's great, but there's some special rules, and let's think about it for a minute because what's happening here is if, for example, I didn't sell my share of the partnership and I didn't leave, if I stayed, if receivables went up or inventory changes, if I have any kind of income from inventory or receivables, what is inventory or receivables considered? Those are considered what? A current asset. Those are considered business assets. Any kind of gain from that would be what kind of gain? Any gain from that would be an ordinary gain, right? Because inventory receivables would be considered an ordinary asset. Ordinary assets create ordinary income, not a capital. So, because of that, what it says is these inventories and receivables are called hot assets. Those are called the hot asset to the business. So, remember...