Desi's adjusted basis of her partnership interest was $40,000 immediately before she received a distribution in full liquidation of her Makris partnership interest. The distribution consisted of $25,000 in cash and land with a fair market value of $30,000. Makris's basis in the land was $28,000 immediately prior to the distribution. During the year, Desi sold the land for $50,000. How will Desi report the liquidating distribution and the sale on her income tax return? Liquidating Distribution a No gain or loss b. No gain or loss C $15,000 gain d. $25,000 gain Sale of the Land 35,000 capital gain $22,000 capital gain $20,000 capital gain $10,000 capital gain