In 2015, Kipp invested $65,000 for a 30% interest in a partnership conducting a passive activity. The partnership reported losses of $200,000 in 2015 and $100,000 in 2016, Kipps share being $60,000 in 2015 and $30,000 in 2016. How much of the losses from the partnership can Kipp deduct assuming he owns no other investments and does not participate in the partnerships operations?