Partnership DEF owns marketable securities with a value of $300,000, and a basis of $180,000 which it has owned for many years. DEF does not have an I.R.C 754 election in effect. On January 1 of the current year, D sells her one-third interest in DEF to G for $100,000. On February 1 of the current year, DEF sells all of its assets for $330,000 and liquidates. DEF recognizes a gain of $150,000.

a. Is the gain from the sale of the marketable securities short-term or long-term as to G. Explan.

b. What is G's basis for his partnership interest immediately before receiving the liquidating distribution?