28. On January 1, 2015, Carl, Hank, and Laurie formed a three-person equal partnership with Carl and Hank each contributing $100,000 and Laurie contributing investment property (land) with a basis to her of $60,000 and a fair market value of $90,000. On September 30, 2015, the partnership sold the land for $30,000. The amount of the gain or loss to be allocated to Laurie is:

a. 0.

b. $40,000 loss.

c. $30,000 loss.

d. $10,000 loss.

29. On July 1, 2015, Clark acquired a 20 percent interest in the D and D Partnership, by contributing a parcel of land for which his basis was $8,000. After the contribution, each of the other two partners owned a 40 percent interest in the D and D Partnership. Upon contribution, the land had a fair market value of $20,000 and was subject to a mortgage of $4,000. Responsibility for the mortgage was assumed by the partnership. Assuming there are no other partnership liabilities, the basis of Clark's interest in the partnership is:

a. $4,000.

b. $4,800.

c. $16,000.

d. $16,800.

Please Explain your answer