Texas Corporation $($a C corporation$)$ is undergoing a complete liquidation and distributes land to Robert, one of its shareholders, in exchange for all of Robert's stock. The land has a basis of $$300,000$ and an FMV of $$400,000$ on Texas Corporation's books and is subject to a $$325,000$ liability. Robert assumes the liability on the property. Robert's basis in his Texas Corporation stock is $$100,000.$ What is the amount of gain or loss recognized by Robert on the distribution