$16.$ TP received a proportionate liquidating distribution of his LLC interest. His outside basis was $$50,000.$ He received $$20,000$ cash; and land with a basis and FMV of $$20,000.$ As a result of this distribution TP has which of the following results?

a$.$ Recognized loss of $$10,000$ and land basis of $$20,000$

b$.$ Realized loss of $$10,000$; recognized loss of $$10,000$

c$.0$ realized loss; $0$ recognized loss and a land basis of $$20,000$

d$.$ Recognized loss of $0$ and a land basis of $$30,000$

e$.$ Realized and recognized loss of $$30,000$