10. I got 1,550 to deduct but I had 7,550 but im not sure

On January 1, X9, Gerald received his 50 percent profits and capital interest in High Air, LLC, in exchange for $2,100 in cash and real property with a $3,100 tax basis secured by a $2,100 nonrecourse mortgage. High Air reported a $15,100 loss for its X9 calendar year. How much loss can Gerald deduct, and how much loss must he suspend if he only applies the tax basis loss limitation? Multiple Choice $0, $4,150 $0, $7,550 SO. $15,100 $4150.50 None of the choices are correct. On January 1, X9, Gerald received his 50 percent profits and capital interest in High Air, LLC, in exchange for $2,100 in cash and real property with a $3,100 tax basis secured by a $2,100 nonrecourse mortgage. High Air reported a $15,100 loss for its X9 calendar year. How much loss can Gerald deduct, and how much loss must he suspend if he only applies the tax basis loss limitation? Multiple Choice $0, $4,150 $0, $7,550 SO. $15,100 $4150.50 None of the choices are correct