Omega Corporation has alwas been an S corporation and is 100% owned by Karen. Karen has a basis of $60,000 in her Omega stock at the beginning of the year. During the year, Omega has an ordinary loss of $30,000 and a long-term capital gain of $10,000. In addition, Omega Corporation distributed $95,000 in cash to Karen on December 1. Will the distribution cause Karen to recognize a gain? If so, what are its amount and character