The following facts will remain the same for all questions this is used on:

Sally contributes a Warehouse & its loan balance to Brown Partnership.

Sam contributes an Office & its loan balance to Brown Partership.

Sally$$s Original Asset $($Warehouse$)$:

$$700,000$ FMV

$$800,000$ Basis

$$100,000$ Loan Balance

Sam$$s Original Asset $($Office$)$:

$$900,000$ FMV

$$300,000$ Basis

$$700,000$ Loan Balance

What is Sally's recoginzed gain $($loss$)?$