LCF Corporation, an S corporation, allocates $40,000 of ordinary loss and $10,000 of charitable contributions to shareholder L. Ls basis in stock and debt, prior to accounting for the losses, is $30,000. Which of the following best describes Ls treatment of these items for the current and future years, assuming no other deduction limits apply to L for the year?

a. Claim $24,000 of the ordinary loss and $6,000 of the contribution this year. Carry the rest forward.

b. Claim $24,000 of the ordinary loss and $6,000 of the contribution this year. There is no tax benefit for the excess in any year, past or future.

c. Claim $30,000 of the ordinary loss and none of the contribution this year. Carry the rest forward.

d. Claim $40,000 of the ordinary loss and $10,000 of the contribution this year.