An S corporation incurs an operating loss of $80,000 in 2018 and makes no distributions to its shareholders during the year. Before considering the current year operating loss, Abe, a shareholder that owns 50 percent of the S corporation stock, has a basis in his shares of S corporation stock of $30,000 and a $20,000 basis in a note from the corporation. How much of the $80,000 loss can he deduct on his 2018 individual tax return?