2. Problem 11-45 (LO. 6) The December 31, 2016, balance sheet of the GAB LLP reads as follows: Adjusted Basis FMV Cash $300,000 $300,000 Receivables -0- 100,000 Capital assets 60,000 80,000 Total $360,000 $480,000 Gina, capital $90,000 $120,000 Adelle, capital 180,000 240,000 Britney, capital 90,000 120,000 Total $360,000 $480,000 Capital is not a material income-producing factor for the LLP. Gina is an active (general) partner and owner of a 25% interest in the LLP's profits and capital. On December 31, 2016, Gina receives a distribution of $140,000 cash in liquidation of her partnership interest under 736. Nothing is stated in the partnership agreement about goodwill. Gina's outside basis for the partnership interest immediately before the distribution is $90,000. a. How much is Gina's recognized gain from the distribution? Capital gain: $ Ordinary income: $ b. How much can GAB claim as a deduction? $