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Question - The partnership of Truman and Hanover realized the following items of income during the year ended December 31, 2018:
Net Income from operations $65,000
Dividends from domestic corporations $4,000
Interest on corporate bonds $3,000
Net long-term capital gains $5,000
Net short-term capital gains $1,000
Both the partners are on a calendar year basis. What is the total income which should be reported as ordinary income from business activities of the partnerships for 2018?
a) $0
b) $65,000
c) $69,000
d) $71,000
e) None of the above
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