Member A has an adjusted basis in his membership interest in Net Big Partnership of $8,000. Net Big liquidates completely and distributes a piece of real estate to Member A in which Net Big has a basis of $8,000 and which has a fair market value of $10,000. a. What is Member As basis in the real estate received from Net Big? b. Does Member A have a gain or loss as a result of the distribution? In so, how much? c. Explain your answers to parts a and b. Member P has an outside basis in his interest in Bing LLC of $10,000 and in 2007, the flowing transactions take place: $25,000 in LLC taxable income is allocated to him; $2,000 in LLC tax exempt is allocated to him; His share of increased LLC liabilities is $5,000; $24,000 is distributed to him by the LLC; His share of decreased LLC liabilities is $4,000. a. What is Member Ps basis at the end of 2009? b. Explain your answer to part a. Member A has an adjusted basis in his membership interest in Net Big Partnership of $6,000. Net Big liquidates completely and distributes a piece of real estate to Member A in which Net Big has a basis of $6,000 and which has a fair market value of $10,000. a. What is Member As basis in the real estate received from Net Big? b. Does Member A have a gain or loss as a result of the distribution? In so, how much? c. Explain your answers to parts a and b