In $2024,$ Theo, a single taxpayer, operates a sole proprietorship in which he materially participates.$$ His proprietorship generates gross income of $$301,000$ and deductions of $$616,000,$ resulting is a loss of $$299,000.$ The large deductions are due to the acquisition of equipment and the use of immediate expense and additional first$-$year depreciation to deduct all of the acquisitions.$$ What is Theo$$s excess business loss for the year?

a$.$

$$-0-.$

b$.$

$$305,000.$

c$.$

$$10,000.$

d$.$

$$315,000$