Pablo has a $96,200 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 $38,480, cash basis receivables with an inside basis of $0 and a fair market value of $24,050, and land with a basis and fair market value to the partnership of $125,060.

If an amount is zero, enter "0".

a. How much is Pablo's realized and recognized gain on the distribution? Pablo has a realized gain on the distribution of $fill in the blank 1 and a recognized gain of $fill in the blank 2.

b. What is Pablo's basis in the receivables, land, and partnership interest following the distribution? The receivables have a basis of $fill in the blank 3 and the land has a basis of $fill in the blank 4 to Pablo. His basis in his partnership interest after the distribution is $fill in the blank 5.