Jamahi has a 65% interest in a partnership. Jamahi sells land to the partnership for $70,000. Prior to the sale, the land had a FMV of $70,000 and an adjusted basis of $90,000 to Jamahi. Due to the Sale, Jamahi will recognize:

A. $0, but will have a carryover loss of $20,000

B. a gain of $20,000

C. $0, and he will not have a carryover loss

D. a loss of $20,000