Daisy owns a 40% interest in the DDS Partnership. Partnership assets consist of land (fair market value of $100,000, basis of $80,000), accounts receivable (fair market value of $120,000, basis of $0), and cash of $180,000. Daisy sells her interest in DDS to Chip for cash of $140,000. In addition, Chip assumes Daisys $40,000 share of the LLPs liabilities. Daisys basis in the partnership interest (including her share of the partnerships liabilities) is $120,000 immediately before the sale