Tim, Al$,$ and Pat contributed assets to form the equal TAP Partnership. Tim contributed cash of $$40,000$ and land worth a basis of $$80,000($fair market value of $$60,000).$ Al contributed cash of $$60,000$ and land with a basis of $$50,000($fair market value of $$40,000).$ Pat contributed cash of $$60,000$ and a fully depreciated property $($$$0$ basis$)$ valued at $$40,000.$ Which of the following tax treatment in not correct?

a$.$ Tim's basis in his partnership interest is $$120,000$

b$.$ Al realizes and recognizes a loss of $$10,000$

c$.$ Pat realizes a gain of $$40,000$ but recognizes $$0$ gain

d$.$ TAP has a basis of $$80,000,$ $$50,000,$ and $$0$ in the land and property $($excluding cash$)$ contributed by Tim, Al$,$ and Pat, respectively.