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In 2019, Theo, a single taxpayer, operates a sole proprietorship in which he materially participates. His...

In 2019, Theo, a single taxpayer, operates a sole proprietorship in which he materially participates. His proprietorship generates gross income of $320,000 and deductions of $600,000, resulting is a loss of $280,000. The large deductions are due to the acquisition of equipment and the use of immediate expense and additional first-year depreciation to deduct all the acquisitions. What is Theo's excess business loss for the year?

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