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AJ is a $30$ percent partner in the Trane Partnership, a calendar$-$year$-$end entity. On January $1,$ AJ has an outside basis in his

interest in Trane of $$76,500,$ which includes his share of the $$52,800$ of partnership liabilities. Trane generates $$43,400$ of

income during the year and does not make any changes to its liabilities. On December $31,$ Trane makes a proportionate

distribution of the following assets to AJ to terminate his partnership interest:

Note: Leave no answer blank. Enter zero if applicable.

a$.$ What are the tax consequences $($gain or loss, basis adjustments$)$ of the distribution to Trane?