Liquidating distribution: Marinda is a one third partner in the MWH Partnership before she reveives $100,000 cash as a liquidating distribution. Immediately before Marinda receives the distribution, the partnership has the following assets: Assets Partnerships Basis FMV Cash $100,000 $100,000 Marketable securities 50,000 90,000 Investment land 90,000 140,000 Total $330,000 $240,000 At the time of the distribution, the partnership has $30,000 of outstanding liabilities, which the three partners share equally. Marindas basis in her partnership interest before the distribution was $80,000, which includes her share of liabilities. What are the amount and character of the gain or loss recognized by Marinda and the MWH Partnership on the Liquidating distribution