On January2, Year 1, Art & Ander form an equal partnership with Art contributing $10,000 cash Ander contributing property with a FMV of $10,000 and basis of $6,000. Both partners took a cash distribution from the partnership of $4,000. At 12/31 of year 1, the partnership had accumulated of $2,000 of liabilities. At the end of year 1, the partnership had an operating loss of $14,000. Both partners materially participated in the partnership business.

What is Art's share of the year 1 loss allowable to him as a deduction on his personal income tax return for year 1?

A. $7,000

B. $6,000

C. $5,000

D. None of the above