Pablo has a $108,200 basis in his partnership interest. On May 9 of the current tax year, the partnership distributes to him, in a proportionate current distribution, cash of $43,280, cash basis receivables with an inside basis of $0 and a fair market value of $27,050, and land with a basis and fair market value to the partnership of $140,660.

a.How much is Pablo's realized and recognized gain on the distribution?

Pablo has a realized gain on the distribution of $???and a recognized gain of $???.

b.What is Pablo's basis in the receivables, land, and partnership interest following the distribution?

The receivables have a basis of $????and the land has a basis of $????to Pablo. His basis in his partnership interest after the distribution is $???.