Mo Burrow owns a 25% interest in Bengal LLC. On December 31, 2021, Mo Burrow's basis in the LLC is $40,000 and its fair market value is $70,000. On that date, the LLC distributes $25,000 in cash and a parcel of land to Mo Burrow that s worth $30,000 but in which the LLC has a basis of $13,000. a. What is the gain or loss recognized by Mo Burrow and Bengal LLC on this distribution? b. What is Mo Burrow's basis in the LLC after the distribution?

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