Heather sells land (adjusted basis, $75,000; fair market value, $85,000) to a partnership in which she controls an 80% capital interest. The partnership pays her only $50,000 for the land. If an amount is zero, enter "0". a. How much loss does Heather realize and recognize? Realized loss: $ Recognized loss: $ b. If the partnership later sells the land to a third party for $80,000, how much gain does that partnership realize and recognize? The partnership later sells the land to a third party for $80,000. Realized gain: $ Recognized gain: $ Heather sells land (adjusted basis, $210,200; fair market value, $273,260) to a partnership in which she controls an 80% capital interest. The partnership pays her only $147,140 for the land. If an amount is zero, enter "0". a. How much loss does Heather realize and recognize? Realized loss: $ Recognized loss: $ b. If the partnership later sells the land to a third party for $231,220, how much gain does that partnership realize and recognize? Realized gain: $ Recognized gain: $