The following information has been provided by a client for income tax purposes:
- $45,000 salary from an S corporation where the client is a vice-president
- $3,500 loss from the S corporation
- $1,500 loss from a 3% interest in a limited partnership
- $1,200 loss from a 10% interest in Middletown Partnership in which the client does not materially participate
- $1,000 income from dividends
What amount of carryover of losses will the client have?