During 2022, Leisel, a single taxpayer, operates a sole proprietorship in which she materially participates. Her proprietorship generates gross income of $142,000 and deductions of $420,000, resulting in a loss of $278,000. The large deductions are due to the acquisition of equipment and the use of immediate expense and additional first-year depreciation to deduct all of the acquisitions. Can Leisel use all of this loss to offset other income she has?

She may use fill in the blank of the $278,000 proprietorship business loss to offset other business incomenonbusiness incomenonbusiness income. Leisel has an excess business loss of fill in the blank. The excess business loss is treated as part of her NOL carryforwardtreated.