Pablo has a $$69,800$ basis in his partnership interest. On May $9$ of the current tax year, the partnership distributes to him, in a proportionate current distribution, cash of $$27,920,$ cash basis receivables with an inside basis of $$0$ and a fair market value of $$17,450,$ and land with a basis and fair market value to the partnership of $$90,740.$

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

a$.$ How much is Pablo's realized and recognized gain on the distribution?

Pablo has a realized gain on the distribution of $fill in the blank $1$

and a recognized gain of $fill in the blank $2$

$0$

$.$

b$.$ What is Pablo's basis in the receivables, land, and partnership interest following the distribution?

The receivables have a basis of $fill in the blank $3$

$0$

and the land has a basis of $fill in the blank $4$

to Pablo. His basis in his partnership interest after the distribution is $fill in the blank $5$

$0$

$.$

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