The DJ Partnership has two partners, Dawn and Jack. Each partner's basis in his or her partnership interest is $14,000 before any distribution. The partnership distributes $23,000 cash to Dawn and $5,000 cash to Jack. Read the requirements. Requirement a. Assuming a current distribution, determine for each partner (1) gain or loss recognized and (2) basis in the partnership interest after the distribution. (Complete all input fields. Enter a $0 for any zero balances. Enter a loss with a minus sign or parentheses.) (1) Gain (loss) recognized (2) Basis in the partnership interest after the distribution Dawn Jack Requirements a. Assuming a current distribution, determine for each partner (1) gain or loss recognized and (2) basis in the partnership interest after the distribution. b. Assuming a liquidating distribution, determine each partner's gain or loss recognized.