Jose contributes undeveloped land with a basis of $20,000 and a fair market value of $50,000 to the JM Partnership in exchange for a 20% profit/loss/capital interest. Mark contributes $200,000 cash to the JM partnership in exchange for an 80% profit/loss/capital interest. The partnership reports a net operating loss of $80,000 for the current year. c) i. How much of the loss can Jose deduct on his personal income tax return? ii. How much of the loss can Mark deduct on his personal income tax return