Partnership CAT makes a liquidating proportionate distribution to T who has a one-half interest in the capital and profits of CAT. T's basis in her partnership interest is $80,000. She receives land with a basis of $90,000 and fair market value of $100,000. How much gain or loss does M recognize and what is her basis in the land after the distribution?

Gain/Loss Basis

A. $ 0 $90,000

B. $ 0 $80,000

C. $10,000 $80,000

D. $20,000 $80,000