John, a limited partner of Candy Apple, LP, is allocated $34,500 of ordinary business loss from the partnership. Before the loss allocation, his tax basis is $24,500 and at-risk amount is $14,500. John also has ordinary business income of $24,500 from Sweet Pea, LP as a general partner and ordinary business income of $8,700 from Red Tomato, as a limited partner. How much of the $34,500 loss from Candy Apple can John deduct currently?

Multiple Choice

• $8,700.

• $14,500.

• $25,800.

• $34,500.