Gary is a one-third partner in Meadows Partners. His adjusted basis in his partnership interest is $25,000. He received a distribution of real estate in a non-liquidating distribution from the partnership. The real estate had an adjusted basis to the partnership of $20,000 and a fair market value of $50,000. The partnership had no liabilities or hot assets. What will be Garys basis in the real property received from the partnership?

a. zero

b. $20,000

c. $25,000

d. $50,000

e. none of the above