The ABCD partnership liquidated in 20X7. The partnership made liquidating distributions and provided you with each partners outside bas immediately before the distributions as follows:

Distribution to	Partners Outside Basis	Liquidating Distribution	Partners Recognized Gain or (Loss)	Remaining Outside Basis	Basis in Property Received
A	$40,000	$70,000 Sec. 751 Asset: FMV: $30,000 Basis: $9,000
B	$40,000	$10,000 Sec. 751 Asset: FMV: $80,000 Basis: $20,000
C	$80,000	$20,000 Sec. 751 Asset: FMV: $50,000 Basis: $15,000 Property: FMV: $40,000 Basis: $20,000
D	$200,000	$15,000 Sec. 751 Asset: FMV: $70,000 Basis: $35,000 Property #1: FMV: $220,000 Basis: $200,000 Property #2: FMV: $160,000 Basis: $100,000

Determine with regard to the distributions: (1) ABCDs recognized gain or loss; (2) each partners recognized gain or loss; (3) each partners basis in the property received; (4) each partners remaining outside basis; and (5) the effect it has on the basis of the property of ABCD.