Junwei received $20,000 of cash in partial liquidation of his interest in the partnership. Junweis outside basis for his partnership interest immediately before the distribution is $3,000.

1. Will Junwei recognize any gain or loss?

1. Will the partnership recognize any gain or loss?

1. What is the partner's adjusted basis for the property distributed?

1. What is Junweis outside basis in the partnership after the distribution?