In the current year, Megan invests $50,000 for a 10% partnership interest in an Alaskan fishing boat operation in which she is a material participant. The partnership reports total losses of $300,000 in the current year and $220,000 in the following year. How much of the losses can Megan deduct? $30,000 in the current year and $22,000 in the following year. $30,000 in the current year and $20,000 in the following year. $0 in the current year and $0 in the following year. $30,000 in the current year and $0 in the following year. $0 in the current year and $50,000 in the following year.