At the beginning of the year, Joes basis in his partnership interest was $5,000. During the year, Joe contributed $10,000 in cash to the partnership and signed a bank loan to be personally liable for the partnerships debt of $25,000. For the current year, the partnership allocated a loss of $60,000 to Joe. In the following year, Joes portion of the partnership income is $30,000. Which of the following is accurate?

a.	In the following year, Joes reportable taxable income from the partnership is $10,000.
b.	Joes basis in his partnership at the end of the year is $15,000.
c.	Joe may deduct all of the $60,000 loss in the current year.
d.	Joe may carry over a $45,000 loss to the following year.