Melissa, Nicole, and Ben are equal partners in the Opto Partnership (a calendar-year-end entity). 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 $ 19,710 $ 19,710 Accounts receivable 0 26,280 Stock investment 8,640 14,850 Land 35,700 47,400 Totals $ 64,050 $ 108,240 Melissa receives one-third of each of the partnership assets. She has a basis in her partnership interest of $28,705. (Leave no answer blank. Enter zero if applicable.)

b. What is Melissas basis in the distributed assets?

c1. What are the amount and character of Melissa's recognized gain or loss if her outside basis is $12,710 rather than $28,705?

c2. What is Melissa's basis in the distributed assets if her basis in Opto Partnership is $12,710 rather than $28,705?

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