At the beginning of the partnership year, George's basis in his partnership interest is $$100,000,$ and his share of the partnership's income for the year is $$20,000.$ During the year, he receives a cash distribution of $$15,000$ and a property distribution with a basis of $$5,000$ and a fair market value of $$10,000.$ Additionally, George's share of partnership liabilities is reduced by $$10,000$ during the year. Calculate the following:

How much gain or loss does George recognize?

What is his basis in the property he received?

What is his remaining basis in the partnership interest?