In a proportionate liquidating distribution, Sam receives a distribution of $30,000 cash, accounts receivable (basis of $0, fair market value of $50,000), and land (basis of $20,000, fair market value of $50,000). In addition, the partnership repays all liabilities, of which Sams share was $40,000. Sams basis in the entity immediately before the distribution was $120,000. As a result of the distribution, what is Sams basis in the accounts receivable and land, and how much gain or loss does he recognize?