At the beginning of 2012, Quentin purchased a 25 percent general partner interest in Maxim Partnership for $30,000. Quentin's 2012 Schedule K-1 reported that his share of Maxim's debt at year-end was $20,000 and his share of ordinary loss was $42,000. On January 1, 2013, Quentin sold his interest to another partner for $5,000 cash. a. How much of his share of Maxim's loss can Quentin deduct on his 2011 return? b. Compute Quentin's recognized gain on sale of his Maxim interest