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QUESTION 8 The partnership of Felix and Oscar had the following items of income during the tax year ended December 31, 2017: Tax-exempt interest income

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QUESTION 8 The partnership of Felix and Oscar had the following items of income during the tax year ended December 31, 2017: Tax-exempt interest income Dividend income $158,000 8,000 6,000 What is the total ordinary income from business activities passed through by the partnership for the 2017 tax year? 1. $162,400 2$156,000 3. $158,000 4 $150,000

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