in 2021, theo, a single taxpayer, operates a sole proprietorship in which he materially participates. His proprietorship generates gross income of $330,000 and deductions of $620,000, resulting in a loss of $290,000. The large deductions are due to the acquisition of equipment and the use of immediate expense and additional first-year depreciation to deduct all of the acquisitions. What is theo's excess business loss of the year?