Allocation of Precontribution Gain: Last year, Patty contributed land with a 4,000 bais and a 10,000 FMV in exchange for a 40% profits, loss, and capital interest in the PD Partnership. Dave contributed land with an 8,000 basis and a 15,000 FMV for the remaining 60% interest in the partnership. During the current year, PD Partnership reported 8,000 of ordinary income and sold the land that Patty contributed for 14,000, thereby producing a taxable long term capital gain of 10,000 (14,000-4,000). What income or gain must Patty and Dave report from the PD Partnership in the current year?