Problem: Module $7$ Textbook Problem $2$

Learning Objective: $7-4$ Explain the flow$-$through of partnership items to the partners

This year, Herb Partnership generated $$660,000$ ordinary business income. Herb has two equal partners: Savory LLC and Sweet Corp., an S corporation. Savory LLC has three members: Mr$.$ Parsley, an individual who owns a $40$ percent interest, Mrs$.$ Rosemary, an individual who owns a $35$ percent interest, and Sage Inc, a C Corporation which owns a $25$ percent interest. Sweet Corp. has $100$ shares of outstanding stock, all of which are owned by Ms$.$ Mint, an individual.

Required:

Identify the taxpayers who must pay tax on the partnership income, and determine how much income must be reported by each. If a taxpayer does not have to pay tax due to Herb Partnership's allocated income, put $"0"$ for the answer.

$\backslash$table$[[,\backslash$table$[[$Amount of Income Allocated$],[$from Herb Partnership$]]],[$Mr$.$ Parsley,$],[$Mrs$.$ Rosemary,$],[$Sage Inc.,$],[$Ms$.$ Mint,$],[$Savory LLC$,],[$Sweet Corp,$],[,$$