Pass through of S-Corp loss?

[Lame Duck]

Here's something for you to think about. I'm not a CPA so I don't claim to know the answer, but I wonder if this is possible. The situation is an S-Corp with W-2 income of $25,000 for the owner. This is the first year of the corporation and the $25,000 is the total income of the corporation. The contribution to a defined benefit plan is $37,500. Can he contribute $37,500 to the plan as a corporate contribution, creating a $37,500 loss which is passed through to his personal tax return to be written off against other income? In essence, he would have a $12,500 net loss. If the income is split between W-2 and plan contribution, the contribution at the corporate level would be $15,000 and the W-2 income would be $10,000. This would create an additional net income of $10,000 on the 1040. Is what I'm describing possible or am I way off base? Thanks for your thoughts.

[JAY21]

I know that a qualified retirement plan contribution can put an S-Corp. into a loss position without question, but whether the loss can be used to offset other current unrelated 1040 income vs. just being a carried forward or back against other years corporation income I'm not sure about.