A Wealthy Individual Invests $250,000 in a Limited Partnership

A wealthy individual invests $250,000 in a limited partnership. The partnership is doing research in a new medical field and will have large losses for at least 3 years. It is a high risk investment as the research may completely fail to produce results, but could have large returns if successful. Which of the following statements is NOT correct?

A) He can write off the partnership losses against his taxable capital gains.
B) He can write off the partnership losses against his employment income.
C) His limited partnership loss can be carried forward indefinitely and carried back 3 years.
D) His deductible partnership losses will be limited to $250,000.