[Solved] Matt receives a proportionate nonliquidating distribution. At the beginning of the partnership year, the basis of his partnership interest is $60,000. During the year, he received a cash distribution of $25,000 and a property distribution (basis of $20,000 and fair market value of $12,000). In addition, Matt's share of partnership liabilities was reduced by $20,000 during the year. How much gain or loss does Matt recognize; what is his basis in the property he received; and what is his remaining basis in the partnership interest? A) $3,000 loss; $12,000 basis in property; $0 remaining basis. B) $0 gain or loss; $15,000 basis in property; $0 remaining basis. C) $0 gain or loss; $20,000 basis in property; $15,000 remaining basis. D) $0 gain or loss; $12,000 basis in property; $23,000 remaining basis. E) $5,000 gain; $20,000 basis in property; $0 remaining basis. Consensual: Consent given by all parties involved in a specific action, especially relevant in contexts of sexual activities. Noncoercive: Actions or behaviors that are voluntary and not forced upon someone through pressure or use of force. Voyeurism: The practice of gaining sexual pleasure from watching others when they are naked or engaged in sexual activity. Aroused: The state of being sexually stimulated or excited.