Bob, a 40-percent partner in the Ore Partnership, receives a nonliquidating distribution of cash in the amount of $100,000 at the end of the partnership tax year. Before the distribution, Bob's basis in the Ore Partnership was $70,000. Assuming there were no other partnership transactions, what are the income tax consequences to Bob? A. $30,000 taxable gain B. $70,000 taxable gain C. $100,000 taxable gain D. There are no current income tax consequences to Bob