Wylie receives cash of $145,000 in liquidation of his partnership interest, in which he has a basis of $110,000. The partnership owns no hot assets. After following all of the classification requirements of 736, $100,000 of this amount is classified as a property payment and $45,000 is classified as a guaranteed payment.

As a result of the liquidation proceeds, how much will Wylie recognize as a capital gain or loss and how much will be ordinary income?

Wylie recognizes a $__________ capital loss and he recognizes $____________ as ordin