D contributes land with an adjusted basis of $85,000 and a fair market value of $100,000 to a business entity in which she is an 80% owner on the first day of the tax year. Discuss the tax consequences to D if the business entity sells the land six months later for $120,000 if:

a. The business entity is a partnership?

b. The business entity is a LLC?

c. The business entity is an S corporation?