Bob receives a proportionate current (nonliquidating) distribution from Star Partneship. At the beginning of the year, the basis of his Star Partnership interest is $110,000. During the year, he received a cash distribution of $45,000 and a property distribution (basis of $30,000, fair market value of $22,000). In addition, Bob's share of Star Partnership liabilities was reduced by $7,000 during the year. How much gain or loss does Bob recognize; what is his basis in the property he received; and what is his remaining basis in the partnership interest?

$30,000 loss; $30,000 basis in property; $0 remaining basis.
	$22,000 loss; $22,000 basis in property; $0 remaining basis.
	$0 gain or loss; $30,000 basis in property; $28,000 remaining basis.
	$0 gain or loss; $30,000 basis in property; $36,000 remaining basis.