The December 31, 2016, balance sheet of the GAB LLP reads as follows:

	Adjusted Basis		FMV
Cash	$300,000		$300,000
Receivables	-0-		100,000
Capital assets	60,000		80,000
Total	$360,000		$480,000
Gina, capital	$90,000		$120,000
Adelle, capital	180,000		240,000
Britney, capital	90,000		120,000
Total	$360,000		$480,000

Capital is not a material income-producing factor for the LLP. Gina is an active (general) partner and owner of a 25% interest in the LLP's profits and capital. On December 31, 2016, Gina receives a distribution of $140,000 cash in liquidation of her partnership interest under 736. Nothing is stated in the partnership agreement about goodwill. Gina's outside basis for the partnership interest immediately before the distribution is $90,000.

a. How much is Gina's recognized gain from the distribution?

b. How much can GAB claim as a deduction?