Problem 11-44 (Algorithmic) (LO. 3) Leon sells his interest in a passive activity for $126,500. Determine the tax effect of the sale based on each of the following independent facts: If an amount is zero, enter "0". a. Adjusted basis in this investment is $44,275. Losses from prior years that were not deductible due to the passive activity loss restrictions total $48,703. The taxable gain is $ 33,522 The suspended losses at the end of the year are s b. Assume the same sales price but the adjusted basis in this investment is $94,875. Losses from prior years that were not deductible due to the passive activity loss restrictions total $48,703. The deductible loss is $ -17,078 The suspended losses at the end of the year are s 48,703 Feedback Check My Work Partially correct C. Assume the same sales price but the adjusted basis in this investment is $94,875. Losses from prior years that were not deductible due to the passive activity loss restrictions total $48,703. In addition, suspended credits total $12,650. The deductible loss is $ -17,078 . The suspended losses at the end of the year are $ 48,703 X The suspended credits at the end of the year are lost