Nadine Fimple Is a One-Half Partner in the NL Partnership

Nadine Fimple is a one-half partner in the NL Partnership with equal inside and outside bases.On January 1,NL distributes accounts receivable with a fair value of $100,000 to Nadine as an operating distribution.NL's balance sheet as of January 1 is as follows:
$\begin{array}{l}\begin{array}{lll}\\\text { Cash} \\\text { Account receivable} \\\text { Total} \\\\\text { Nadine, capital} \\\text { Louis, capital} \\\text { Total} \\\end{array}\begin{array}{lll}\text { Basis } & \text { FMV } \\\$ 100,000 & \$ 100,000 \\-0- &\$ 100,000 \\\underline{ \$ 100,000}& \underline { \$ 200,000} \\\\\$ \quad 50,000 \\\underline{ 50,000 }\\ \underline { \$ \quad 100,000}\end{array}\end{array}$
What is the amount and character of Nadine's recognized gain or loss on the distribution?