Sam, who earns a salary of $400,000, invested $160,000 for a 40% working interest in an oil and gas limited partnership (not a passive activity) last year. Through the use of $1,600,000 of nonrecourse financing, the partnership acquired assets worth $2 million. Depreciation, interest, and other deductions related to the activity resulted in a loss in the partnership's initial year of $300,000, of which sam's share was $120,000. Sam's share of loss from the partnership is $60,000 in the current year. How much of the loss from the partnership can Sam deduct in each year?