(true or false) Kate is a general partner and materially participates in the partnership. On the first day of the current tax year, Kates basis in her partnership interest was $22,000. Her Schedule K-1 from the partnership shows that her share of the partnerships trade/business ordinary loss is ($23,000), and her share of the partnerships interest income is $3,000. On her personal tax return, Kate will report a loss from the partnership of $23,000, and interest income of $3,000.