Maria was a 10% partner in M Partnership. Marias outside basis in her partnership interest is $200,000 (just prior to distribution). This year, the partnership distributed the following to Maria in a proportionate distribution that liquidated the entire partnership:

• Cash: $50,000
• Inventory: FMV = $125,000; inside basis = $100,000 (hot asset)

What is Marias recognized gain or loss on the distribution?