In a proportionate liquidating distribution scott receives a distribution of $20,000 cash, a/r (basis of $0 FMV $40000, and land (basis of $30,000 FMV $60000). The patnership repays all liabilities scots share was $20000. Scots basis in the entity immediaely before the distribution was $100000. As a result of the distriution what is scotts basis in the a/r and land, and how much gain or loss does he recognize?