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At the beginning of 2021, Ms. Pope purchased a 20 percent interest in PPY Partnership for $20,000. Ms. Pope's Schedule K-1 reported that her share

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At the beginning of 2021, Ms. Pope purchased a 20 percent interest in PPY Partnership for $20,000. Ms. Pope's Schedule K-1 reported that her share of PPY's debt at year-end was $14,000, and her share of ordinary loss was $30,000. On January 1, 2022. Ms. Pope sold her interest to another partner for $2.200 cash. Required: a. How much of her share of PPY's loss can Ms. Pope deduct on her 2021 return? b. Compute Ms. Pope's recognized gain on sale of her PPY interest c. How would your answers to parts a and change if PPY were an Scorporation instead of a partnership? Complete this question by entering your answers in the tabs below. Required A Required B Required C How much of her share of PPY's loss can Ms. Pope deduct on her 2021 return? Deduction Band Required B

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