Harold Hanks, an auto body specialist, has a $54,000 basis in his 50 percent partnership interest in the Hanks & Honaker ("HH") Partnership before receiving any distributions. This year HH makes a proportionate operating distribution to Harold of a parcel of land with an $80,000 fair value and a $64,000 basis to HH. The land is encumbered with a $30,000 mortgage (HH's only liability). 1. What is Harold's recognized gain or loss on the distribution? 2. What is Harold's basis in the land? 3. What is Harold's remaining basis in HH after the distribution