Last year, Brandy contributed land with a(n) $3,800 basis and a(n) $7,800 FMV in exchange for a(n) 30% profits, loss, and capital interest in the BW Partnership. Will contributed land with a(n) $12,200 basis and a(n) $18,200 FMV for the remaining 70% interest in the partnership. During the current year, BW Partnership reported $13,000 of ordinary income and sold the land that Brandy contributed for $8,500, thereby producing a taxable long-term capital gain of $4,700 ($8,500-$3,800). Requirement What income or gain must Brandy and Will report from the BW Partnership in the current year? What income or gain must Brandy report from the BW Partnership in the current year? Income type Amount Total income - Brandy