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: Cash Accounts receivable Stock investment Land Totals Tax Basis FMV $19,530 $ 19,530 0 26,040 8,520 14,550 35,100 46,200 $63,150 $106,320 Melissa receives one-third of each of the partnership assets. She has a basis in her partnership interest of $28,315. (Leave no answer blank. Enter zero if applicable.) a. What is the amount and character of any recognized gain or loss to Melissa? Neither gain nor loss recognized $5,000 of ordinary income O $17,000 of ordinary income $5,000 of capital gain $17.000 of capital gain Randolph is a 30 percent partner in the RD Partnership. On January 1, RD distributes $15,000 cash, inventory with a fair value of $20,000 (inside basis of $10,000), and a parcel of land with a fair value of $10,000 (inside basis of $5,000) to Randolph in complete liquidation of his interest. RD has no liabilities at the date of the distribution. Randolph's basis in his RD Partnership Interest is $37,000. What Is Randolph's basis in the distributed inventory and land? Multiple Choice $10,000 inventory, $10,000 land. $10,000 inventory, $5,000 land, $20,000 inventory, $10,000 land. $10,000 inventory. $12,000 land. Mark is a 30% partner in the DMD Partnership. On January 1, DMD distributes $52,000 cash to Mark in complete liquidation of his interest. DMD has only capital assets and no liabilities at the date of the distribution. Mark's basis in DMD is $74,000. What is the amount and character of Mark's gain or loss on the distribution? Multiple Choice $0 gain or loss $22,000 capital gain $22.000 ordinary income. $22,000 capital loss