Katrina Is a One-Third Partner in the KYR Partnership (Calendar

Katrina is a one-third partner in the KYR partnership (calendar year-end).Katrina decides she wants to exit the partnership and receives a proportionate distribution to liquidate her partnership interest on January 1.The partnership has no liabilities and holds the following assets as of January 1:
$\begin{array}{l}\begin{array}{lll}\\\text { Cash } \\\text { Accounts receivable } \\\text { Stock investment } \\\text { Land } \\\text { Totals } \\\end{array}\begin{array}{lll}\text { Basis } & \text { FMV } \\\$ 180,000 & \$ 180,000 \\-0- & 240,000 \\75,000 & 120,000 \\\underline {300,000} & \underline {360,000} \\\underline { \$ 55,000 }& \underline {\$ 900,000} \\\end{array}\end{array}$
Katrina receives one-third of each of the partnership assets.She has a basis in her partnership interest of $250,000.What is the amount and character of any recognized gain or loss to Katrina? What is Katrina's basis in the distributed assets?