At the beginning of 2018, Ms. P purchased a 15 percent interest in PPY Partnership for $21,000. Ms. P's Schedule K-1 reported that her share of PPY's debt at year-end was $15,000, and her share of ordinary loss was $32,850. On January 1, 2019, Ms. P sold her interest to another partner for $2,300 cash a. How much of her share of PPY's loss can Ms. P deduct on her 2018 return? b. Compute Ms. P's recognized gain on sale of her PPY interest c. How would your answers to parts a and b change if PPY were an S corporation instead of a partnership? Complete this question by entering your answers in the tabs below. Required ARequired B Required C Required A How mucn of her share of PPY's loss can Ms. P deduct on her 2018 return? Complete this question by entering your answers in the tabs below. Required ARequired BRequired C Compute Ms. P's recognized gain on sale of her PPY interest in recognized Required A Required BRequired C How would your answers to parts a and b change if PPY were an S corporation instead of a partnership? Deduction Gain recognized