At the beginning of 2018, Ms. P purchased a 20 percent interest in PPY Partnership for $20,000. Ms. P's Schedule K-1 reported that her share of PPY's debt at year-end was $12,000, and her share of ordinary loss was $28,000. On January 1, 2019, Ms. P sold her interest to another partner for $2,000 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 A Required B Required C How would your answers to parts a and b change if PPY were an S corporation instead of a partnership? Deduction Gain recognized