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In 2019, John is single and is the owner of a proprietorship with $650,000 of gross income and $975,000 of deductions, resulting in a $325,000

In 2019, John is single and is the owner of a proprietorship with $650,000 of gross income and $975,000 of deductions, resulting in a $325,000 loss for the year. How much of this loss can John deduct in 2019 and what does he do with the excess loss?

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