Pam has a $34,500 basis (including her share of debt) in her 50 percent partnership interest in the meddoc partnership before receiving any distributions. this year meddoc makes a current distribution to pam of a parcel of land with a $55,400 fair market value and a $40,600 basis to the partnership. the land is encumbered with a $20,300 mortgage (the partnership’s only liability).
a. what is the amount and character of pam's recognized gain or loss?
b. what is pam's baisis in the land?
c. what is pam's remaining basis in her partnership interest?

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hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

answer; ///hong kong;