The Wenzel Corporation is considering selling investment land to Kaplan Partnership for the land's FMV of $1.4 million. Wenzel purchased the land 10 years ago for $1.5 million cash. Mr. Andy Iffland is the largest shareholder in Wenzel; he owns 1,338 of 3,000 Wenzel shares outstanding. Andy's sister, Mrs. Alice Smith, owns 248 Wenzel shares, and various investors who are unrelated to Andy and Alice own the remaining shares outstanding. Alice is a partner in Kaplan Partnership; she owns a 36 percent interest in Kaplan's profits and capital. Alice's daughter, Joanna Smith, owns a 21 percent interest in Kaplan's profits and capital. Alice and Joanna are unrelated to any other Kaplan partner. If Wenzel sells its land to Kaplan Partnership, can it recognize the $100,000 loss that it will realize on the sale?