Larry recently invested $26,000 (tax basis) in purchasing a limited partnership interest in which he will have no management rights in the company. His at-risk amount is also $26,000. In addition, Larrys share of the limited partnership loss for the year is $2,300, his share of income from a different limited partnership is $1,120, and he has $3,600 of dividend income from the stock he owns. How much of Larrys $2,300 loss from the limited partnership can he deduct in the current year?