CD partnership, a 50/50 partnership, has cash of $60, accounts receivable with basis $0 and fair market value $30, inventory with a basis and fair value of $30, and land with a basis of $120 and value of $60. Cs outside basis is $100 and Ds is $75. What are the consequences if the partnership liquidates, distributes the cash and accounts receivable to C, and the land and inventory to D?