Stan is a $30\%$ owner of CS Partnership $($a general partnership$).$ CS Partnership owns the following assets at the end of the current year when it makes a liquidating distribution to Stan. The distribution consists of $$30,000$ in cash, all of the inventory, Land #$1,$ and Land #$2.$ Prior to the current distribution Stan has an Outside Basis of $$71,500.$ CS has accounts payable of $$40,000$ as of the distribution date and no other debt. Inside Basis FMV

cash $60,00060,000$

Inventory $20,00038,000$

Land #$139,00047,000$

Land #$272,00060,000$

Equipment $120,000240,000$

Total$311,000445,000$

$1.$ What gain or loss must CS Partnership recognize as a result of the current distribution to Stan?

$2.$ What gain or loss must Stan recognize as a result of the current distribution $?$

$3.$ what is stans basis in inventory, land #$1$ and land #$2$