During 2023, Leisel, a single taxpayer, operates a sole propnetorship in which she moterially participates. Her proprictorship generates gross income of $142,000 and deductions of $460,000, resulting in a loss of $318,000. The large deductions are due to the acqumition of equipment and the use of immediate expense and additional first-vear depreciation to deduct all of the acouisaions. Can leisel use all of this loss to offset other income she has? She may we 1 X of the $318,000 propretorship businews loss to offset. excess butuness loss of 4