Travis and Alix Weber are equal partners in the Tralix Partnership, which does not have a 754 election in place. Alix sells one-half of her interest (25 percent) to Michael Tomei for $41,500 cash. Just before the sale, Alix's basis in her entire partnership interest is $88,800, including her $41,500 share of the partnership liabilities. Tralix's assets on the sale date are as follows:

Tax Basis FMV

Cash $ 50,350 $ 50,350

Inventory 41,500 136,000

Land held for investment 85,750 54,600

Totals $ 177,600 $240,950

What are the amount and character of Alix's recognized gain or loss on the sale?