70. In 2019, Wang invests $ 80,000 for a 20% interest in a partnership in which he is a material participant. The partnership incurs a loss with $ 100,000 being Wang's share. Which of the following statements is incorrect? a. Since Wang has only $ 80,000 of capital at risk, he cannot deduct any more than this amount against his other income. b. Wang's nondeductible loss of $ 20,000 can be carried over and used in future years (subject to the at-risk provisions). c. If Wang has taxable income of $ 40,000 from the partnership in 2020 and there are no other transactions that affect his at-risk amount, he can use all of the $20,000 loss carried over from 2019. d. Wang's $ 100,000 loss is nondeductible in 2019 and 2020 under the passive activity loss provisions. e. All of the statements are correct