simon is a 30 partner in the sbd partnership a calendar year end entity as of the end of this year simon has an out

a. What are the tax consequences (amount and character of recognized gain or loss, basis in distributed assets) of the distribution to Simon if the distribution is an operating distribution?
b. What are the tax consequences (amount and character of recognized gain or loss, basis in distributed assets) of the distribution to Simon if the distribution is a liquidating distribution?
c. Compare and contrast the results from parts (a) and (b).