Erins basis in her Kiybron Partnership interest is $7,000. Erin receives a distribution of $5,150 cash from Kiybron in complete liquidation of her interest. Kiybron is an equal partnership with the following balance sheet: (Enter a loss as a negative number.)

			Tax Basis		FMV
Assets:
Cash		$	5,150		$	5,150
Stock (Investment)			6,000			12,000
Land			9,850			2,950
Totals		$	21,000		$	20,100
Liabilities and capital:
Capital	Erin		7,000
	Carl		7,000
	Grace		7,000
Totals		$	21,000
a-1. What is the amount and character of Erins recognized gain or loss? a-2. Will the distribution have any effect on the partnership assets? b. If Kiybron has a 754 election in place, what is the amount of the special basis adjustment?