Final answer:
The amount realized upon the sale of a partnership interest is the total amount of money received or the fair market value of property received in exchange for the partnership interest.
Step-by-step explanation:
The amount realized upon the sale of a partnership interest is the total amount of money received or the fair market value of property received in exchange for the partnership interest. It represents the cash or other assets that the partner receives when selling their share of the partnership. The amount realized is calculated by considering the sale price and any liabilities assumed by the buyer.