Mia is a 50% partner in a partnership with a beginning of the year adjusted basis in her partnership interest of $50,000. For the current year, no distributions are made to partners, and there is no change in partnership liabilities. The partnership incurred a $140,000 ordinary loss for the year. How does Mia treat her loss in excess of basis?

A. She will recognize $3,000 this year and carry forward the balance.

B. She will first carry back the excess loss for two years and then carry forward the balance upto 20years.

C. She will first carry back the excess loss for three years and then carry forward the balance upto five years.

D. She will carry over the excess loss indefinitely until a subsequent year when she again has a positive basis in her partnership interest