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Damarcus is a $50$ percent owner of Rockit $($a business entity$).$ In the current year, Rockit reported a $$100,000$ business loss. Answer the following questions associated with each of the following alternative scenarios.

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d$.$ Rockit is organized as an LLC taxed as a partnership. Fifty percent of Rockit's loss is allocated to Damarcus. Damarcus works full time for Rockit $($he is not considered to be a passive investor in Rockit$).$ Damarcus has a $$70,000$ basis and at$-$risk amount in his ownership interest in Rockit. Damarcus does not report income or loss from any other business activity investments. How much of the $$50,000$ loss allocated to him by Rockit is Damarcus allowed to deduct this year?

Allowable deduction of loss