The Partnership of Felix and Oscar Had the Following Items

question 69

Multiple Choice

The partnership of Felix and Oscar had the following items of income during the current tax year: $$\begin{array} { l r } \text { Income from operations } & \$ 157,000 \\\text { Tax-exempt interest income } & 8,000 \\\text { Dividend income } & 6,000\end{array}$$ What is the total ordinary income from business activities passed through by the partnership for the current tax year?

• A)$156,000
• B)$157,000
• C)$165,000
• D)$110,000
• E)None of the above

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