Abe is a 40% partner in the ABC Partnership. Both Abe and the partnerships tax years end on December 31. In 2017, the partnership generates $200,000 of ordinary taxable income. However, because the partnership needs capital for expansion and debt reduction, Abe makes no cash withdrawals during the year. Same facts as in Question 3, except the partnership realizes a taxable loss of $100,000 and no ordinary taxable income. The partnership wants to keep the losses and hopes to distribute it in 2018. Can Abe deduct his losses in 2017 and if so how much? A. $40,000 in 2017 B. $100,000 in 2017 C. $200,000 in 2017 D. None of the above.