Fred's at-risk amount in a passive activity is $50,000 at the beginning of the current year. His current loss from the activity is $60,000. He had no passive activity income during the year. At the end of the year, which of the following statements is incorrect?

Question 6 options:

1)	Fred has a loss of $50,000 suspended under the passive loss rules.

2)	Fred has a loss of $60,000 suspended under the passive loss rules.

3)	Fred has an at-risk amount in the activity of $0.

4)	Fred has a loss of $10,000 suspended under the at-risk rules.