1. Adam and Alyssa are equal partners in the PartiPilo Partnership. The partners formed the partnership three years ago by contributing cash. Prior to any distributions, the partners have the following bases in their partnership interests:

   Partner Outside Basis

   Adam $ 11,000

   Alyssa 11,000

   On December 31 of the current year, the partnership makes a pro-rata operating distribution of:

   Partner Distribution

   Adam Cash $ 16,000

   Alyssa Cash 8,000

   Property 8,000 (FMV) ($6,000 basis to partnership)

   What is the amount of Adams recognized gain or loss?

1. Same facts as the prior problem, what is the amount of Alyssas recognized gain or loss?