Corbin Has a $15,000 Basis in His 50 Percent Ownership

Multiple Choice

Corbin has a $15,000 basis in his 50 percent ownership in an S corporation and loaned the corporation $5,000 last year.The corporation has $30,000 of other debt.This year the corporation reported a $100,000 loss.How much of this loss may Corbin deduct this year?

A) $15,000
B) $20,000
C) $35,000
D) $50,000