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2) Dancin' In the Dark Partnership had the following revenues, expenses, gains, losses, and distributions 2) Sales Dancin' In the Dark Partnership had the following
2) Dancin' In the Dark Partnership had the following revenues, expenses, gains, losses, and distributions
2) Sales Dancin' In the Dark Partnership had the following revenues, expenses, gains, losses, and distributions: Long-Term Capital Gain Qualified Dividends Cost of Goods Sold Employee Wages Guaranteed Payment to Managing Partner Municipal Bond Interest Section 179 Expense MACRS Depreciation Section 1231 Gains Fines and Penalties $80,000 $6,000 $5,000 $35,000 $12,000 $28,000 $6,000 $11,000 $9,000 $4,000 $2,500 Given these items, what is Dancin' In the Dark's ordinary business income (loss) for the year?
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