On January $1,$ X$9,$ Gerald received his $50$ percent profits and capital interest in High Air, LLC$,$ in exchange for $$2,000$ in cash and real property with a $$3,000$ tax basis secured by a $$2,000$ nonrecourse mortgage. High Air reported a $$15,000$ loss for its $x9$ calendar year. How much loss can Gerald deduct, and how much loss must he suspend if he only applies the tax basis loss limitation$?$

Multiple Choice

$$0,$$$4,000$

$$0,$$$7,500$

$$0,$$$15,000$

$$4,000,$$$0$

None of the choices are correct.