George is a limited partner in the GUH Partnership. His basis is $40,000 before considering the current year operations and indudes a 520,000 recourse debit share and a $10,000 nonrecourse debt share. The more course debt is not treated as qualified nonrecourse financing GLH reported a $200,000 loss for the year of which George's 40% share is $80,000. George has passive income of $50,000 from another activity (not eligible for the speda real estate deduction). He has no business losses for the year from other sources. How much of the $80,000 GUH loss can George deduct this year? a $30,000 b. $10,000 c. $50,000. d. $80,000 e. $40,000