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: $$\begin{array}{l}\text { Liablities and capital: }\\\begin{array} { | c | r | } \hline \text { Capitar-Tatia } & \$ 33,000 \\\hline \text {-Rihanna } & 33,000 \\\hline \text {-Quinn } & 33,000 \\\hline \text { Total } & \$ 99,000 \\\hline\end{array}\end{array}$$ $$\begin{array} { | l | r | r | } \hline \text { Assets: } & \text { Basis } & \text { FMV } \\\hline \text { Cash } & \$ 110,000 & \$ 110,000 \\\hline \text { Stock (imvestment) } & 240,000 & 110,000 \\\hline \text { Land } & 55,000 & 110,000 \\\hline \text { Total } & \$ 405,000 & \$ 330,000 \\\hline\end{array}$$ What is the amount and character of Nadine's recognized gain or loss on the distribution?