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: $$\begin{array} { | l | r | } \hline \text { Carmello, capital } & \$ 60,000 \\\hline \text { Doug, capital } & 60,000 \\\hline \text { Wenchy, capital } & 60,000 \\\hline \text { Total } & \$ 180,000 \\\hline\end{array}$$ $$\begin{array} { | l | r | r | } \hline \text { Assets: } & \text { Basis } & \text { FMV } \\\hline \text { Cash } & \$ 22,000 & \$ 22,000 \\\hline \text { Stock (imvestment) } & 11,000 & 22,000 \\\hline \text { Land } & \underline { 66,000 } & \underline { 22,000 } \\\hline \text { Total } & \$ 99,000 & \$ 66,000 \\\hline\end{array}$$ What is the amount and character of Nadine's recognized gain or loss on the distribution?