Melissa, Nicole, and Ben are equal partners in the Opto Partnership (calendar year-end). Melissa decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January 1. The partnership has no liabilities and holds the following assets as of January 1:

		Tax Basis		FMV
Cash	$	19,800		$	19,800
Accounts receivable		0			26,400
Stock investment		8,700			15,000
Land		36,000			48,000
Totals	$	64,500		$	109,200

Melissa receives one-third of each of the partnership assets. She has a basis in her partnership interest of $28,900. (Leave no answer blank. Enter zero if applicable.)

b. What is Melissas basis in the distributed assets? (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)

c1. What is the amount and character of Melissa's recognized gain or loss if her outside basis is $12,800 rather than $28,900?

c2. What is Melissa's basis in the distributed assets if her basis in Opto Partnership is $12,800 rather than $28,900?

d. What is the amount and character of any recognized gain or loss from the distribution to Opto?