Cadwallader has had a 30% interest in C&C Associates, a partnership, since Year 1. In Year 6 the partnership is liquidated. The partnership's only assets at the time of liquidation are $50,000 in cash and land with a fair market value of $50,000 and a basis of $65,000. C&C Associates has no liabilities. Cadwallader's adjusted basis in the partnership interest is $34,500, and Cadwallader receives $30,000 cash in liquidation of the entire interest. What amount and type of loss, if any, should Cadwallader recognize as a result of the liquidation of C&C Associates