X is a one-half partner in a partnership with $4,000 of accounts receivable with a zero basis, capital assets of $6,000 with a $2,000 basis, and no liabilities. If X receives $5,000 of capital assets

X is a one-half partner in a partnership with $4,000 of accounts receivable with a zero basis, capital assets of $6,000 with a $2,000 basis, and no liabilities. If X receives $5,000 of capital assets from the partnership in exchange for his entire interest, which of the following is deemed to occur?

X must recognize a capital gain of $2,000

X must recognize a capital gain of $3,000

x must recognize ordinary income of $2,000

X need not recognize any gain or loss