Sam is allocated a ($7,000) loss from Longleaf, a general partnership in which Sam is an active and material participant. His basis in the partnership interest was $11,000 prior to considering his share of Longleaf's loss. This $11,000 basis includes Sam's $2,600 share of recourse debt and $5,300 share of nonrecourse debt (amounts which did not change during the year). How much loss may Sam deduct this year after considering any applicable loss limitations? ($11,000) $0 ($5,700) ($8,400)