In 2012 Tony invests $35,000 in an activity for which he is not a material participant. Tony has no other sources of income. Tony's losses from the activity are as follows:

Income/(Loss)

2012                  ($25,000)

2013                  ($15,000)

2014                    $50,000

Calculate Tony’s deductible loss, basis, and any losses suspended under the at-risk and/or passive activity loss rules each year.