At the end of last year, Isabella, a 20 percent partner in the five-person JDT partnership, has an outside basis of $30,000, including her $15,000 share of JDT debt. On January 1 of the current year, Isabella sells her partnership interest to Roger for a cash payment of $22,500 and the assumption of her share of JDT's debt. JDT has no hot assets. What is the amount and character of Isabella's recognized gain or loss on the sale?
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