S Corporation had a non-separately computed loss for the year of ($100,000). Dirks Dently, the sole owner, had a stock basis of $20,000 at the beginning of this year, directly loaned the corporation $40,000 during the year, and personally guaranteed repayment of $50,000 of debt the corporation borrowed from the local bank. Which one of the following statements regarding the deductibility of the ($100,000) loss on Dirks' personal tax return this year is CORRECT? 

Dirks has sufficient stock and debt basis to deduct only $90,000. 

Dirks has sufficient stock and debt basis to deduct only $60,000. 

Dirks has sufficient stock and debt basis to deduct the entire $100,000. 

Dirks does not have sufficient stock or debt basis and cannot deduct any of the loss