Question: Help. I need help understanding and finding the correct solution to this particular problem. Explanations would be appreciated. Thank you. A number of years ago,

Help. I need help understanding and finding the correct solution to this particular problem. Explanations would be appreciated. Thank you.

A number of years ago, Kay acquired an interest in a partnership in which she is not a material participant. Kays basis in her partnership interest at the beginning of 2018 is $40,000. Kays share of the partnership loss is $35,000 in 2018, while her share of the partnership income is $15,000 in 2019. How much may Kay deduct in 2018 and 2019, assuming that she owns no other passive activities?

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