Question: Exercise 11-13 (Algorithmic) (LO, 4) When Bruno's basis in his LLC interest is $274,600, he receives cash of $109,840, a proportionate share of inventory, and

Exercise 11-13 (Algorithmic) (LO, 4) When Bruno's basis in his LLC interest is $274,600, he receives cash of $109,840, a proportionate share of inventory, and land in a distribution that liquidates both the LLC and his entire LLC interest. The inventory has a basis to the LLC of $68,650 and a fair market value of $87,872. The land's basis is $123,570, and the fair market value is $109,840. How much gain or loss does Bruno recognize, and what is his basis in the inventory and land received in the distribution

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