Darcy sold his entire interest in a PTP to an unrelated taxpayer in a fully taxable transaction. His amount realized was $1,200. His outside basis was zero. His ordinary loss was reported to him on his Sales Schedule as $150. How much is his capital gain or loss?
- $150 capital loss.
- $0 (no capital gain/loss).
- $1,200 capital gain.
- $1,350 capital gain.