A calendar year S corporation had dividend income of $$10,000$ and a net ordinary loss of $$70,000$ for the current year. At the beginning of the year, Z$,$ a $40$ percent shareholder, has a stock basis of $$15,000$ and a note basis $($on a loan Z made to the corporation$)$ of $$6,000.$ Z also personally guaranteed payment of a $$5,000$ loan that the corporation took out. Z$$s only other income is a substantial salary from an unrelated business. Z materially participates in the S corporation business. He also received a cash distribution of $$3,000$ from the S corporation during the current year.

Calculate Z$\text{'}$s deductible net ordinary loss from the S corporation for the current year. Show the answer as a positive amount. Show work for partial credit.