(3) TAV distributes a $50,000 (FMV) plot of land and $50,000 (FMV) of accounts receivable to Vincent, and $25,000 of cash and $25,000 (FMV) of accounts receivable each to both Anita and Tyler. Complete the paragraphs below that outlines, in general terms, the tax result of the distribution. This distribution is proportionate with respect to hot assets, so the receivables do not trigger ordinary income recognition by the partners. For Tyler and Anita, the cash is distributed before the accounts receivable. As the cash does not exceed their outside basis, no gain is recognized. The partners' basis for the accounts receivable is $ 25,000 X. For Vincent, the land is deemed to be distributed after the accounts receivable. He will not recognize any gain or loss on the distribution of the land