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Turtle Creek Partnership had the following revenues, expenses, gains, losses, and distributions: Sales revenue $39,000 Long-term capital gains $2,000 Cost of goods sold ($13,000) Depreciation

Turtle Creek Partnership had the following revenues, expenses, gains, losses, and distributions:

Sales revenue $39,000

Long-term capital gains $2,000

Cost of goods sold ($13,000)

Depreciation - MACRS ($5,000)

Amortization of organization costs ($1,000)

Guaranteed payments to partners for general management ($10,000)

Cash distributions to partners ($2,000)

Given these items, what is Turtle Creeks ordinary business income (loss) for the year?

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