42. Karen has a $68,000 basis in her 50 percent partnership interest in the KD Partnership before receiving a current distribution of

$6,000 cash and land with a fair market value of $35,000 and a basis to the partnership of

$18,000.

a. What is the amount and character of Karen’s recognized gain or loss?

b. What is Karen’s basis in the land?

c. What is Karen’s remaining basis in her partnership interest?