Question: Pablo has a $ 6 3 , 0 0 0 basis in his partnership interest. On May 9 of the current tax year, the partnership

Pablo has a $63,000 basis in his partnership interest. On May 9 of the current tax year, the partnership distributes to him, in a proportionate
current distribution, cash of $25,000 and land with a basis of $40,000 and fair market value to the partnership of $80,000.
How much is Pablo's realized and recognized gain/loss on the distribution?

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