Boeing Partnership has 3 partners, Kimberly, Tim, & Jackson with the following facts:

Boeing Partnership's Assets: Trucks: FMV $4,000,000; Inside Basis $ 3,200,000 Land: FMV $4,000,000; Inside Basis $12,200,000 Tools: FMV $ 8,000; Inside Basis $ 1,600 Cash: FMV $8,000,000

Partner's Outside Basis and Capital Interest: Kimberly's Outside Basis: $6,400,000 Tim's Outside Basis: $4,000,000 Jackson's Outside Basis: $1,600,000

Boeing Partnership is considering one of the three different distribution options and has asked you about the tax consequences of each one. Only one will be done, so evaluate each one as if it is the only distribution for the year.

  If Boeing Partnership makes a non-liquidating distribution to Kimberly by giving her the land, how much gain (loss) will Kimberly recognize [B], what will Kimberly's basis be in the land [C] she now owns, and what will Kimberly's ending outside basis be in her partnership interest [D]?

  If Boeing Partnership makes a liquidating distribution to Tim by giving him both the tools and $3,200,000 cash, how much gain (loss) will Tim recognize [F], what will Tim's basis be in the tools [G] and cash [H] he now owns, and what will Tim's ending outside basis be in his partnership interest [I]?

  If Boeing Partnership makes a non-liquidating distribution to Jackson by giving him $4,000,000 cash, how much gain (loss) will Jackson recognize [K], what will Jackson's basis be in the cash [L] he now owns, and what will Jackson's ending outside basis be in his partnership interest [M]?