Exercise $14-7($LO$.4,5)$

When Bruno's basis in his interest in the MNO LLC is $$150,000,$ he receives cash of $$55,000,$ a proportionate share of inventory, and land in a distribution that liquidates MNO and his interest in the LLC$.$ The inventory has a basis to the entity of $$45,000$ and a fair market value of $$48,000.$ The land's basis is $$70,000,$ and its fair market value is $$60,000.$ Compute Bruno$$s recognized gain or loss from the liquidating distribution and his tax basis in the inventory and land.

If an amount is zero, enter $"0".$