Adam sold the land in the following tax year for $18,000. Select the amount of gain or loss Adam should report from his sale of the land previously received in the partnership distribution. (See Question 1.)

a)  $13,000

b)  $ 8,000

c)  ($ 3,000)

d)  $ 3,000

Select the amount of change to his partnership interest after selling the land. (See Question 1.)

a) b) c) d)

$ 2,000 ($ 3,000) $ 5,000 $ 0