Nadine Fimple Is a One-Third Partner in the NWL Partnership

Nadine Fimple is a one-third partner in the NWL Partnership with equal inside and outside bases. On January 1, NWL distributes $100,000 to Nadine in complete liquidation of her FPL interest. NWL's balance sheet as of January 1 is as follows: $\begin{array}{l}\begin{array}{lrr}&\text { Basis}&\text { FMV: }\\\text { Cash} & {\$120,000} & \$ 120,000 \\\text { Inventory} & \mathbf{6 0 , 0 0 0} & \mathbf{180 , 0 0 0} \\\text { Total} & \$\mathbf{18 0 , 0 0 0} & \$300,000 \\\\\text { Nadine, capital} & {\$60,000} &\\\text { Wendell, capital} & \mathbf{60 , 0 0 0} &\\\text { Louis, capital} & \underline{\mathbf{6 0 , 0 0 0}}& \\\text { Total} & \$\mathbf{18 0 , 0 0 0} &\\\end{array}\end{array}$ What is the amount and character of Nadine's recognized gain or loss on the distribution?