Question: This year, Herb Partnership generated $ 7 0 0 , 0 0 0 ordinary business income. Herb has two equal partners: Savory LLC and Sweet

This year, HerbPartnership generated $700,000 ordinary business income. Herbhas two equal partners: SavoryLLC and Sweet Corp., an S corporation. SavoryLLC has three members: Mr. Parsley, an individual who owns a 45 percent interest; Mrs. Rosemary, an individual who owns a 35 percent interest; and SageInc., a C Corporation which owns a 20 percent interest. Sweet Corp.has 100 shares of outstanding stock, all of which are owned by Ms. Mint, an indiviThis year, HerbPartnership generated $700,000 ordinary business income. Herbhas two equal partners: SavoryLLC and Sweet Corp., an S corporation. SavoryLLC has three members: Mr. Parsley, an individual who owns a 45 percent interest; Mrs. Rosemary, an individual who owns a 35 percent interest; and SageInc., a C Corporation which owns a 20 percent interest. Sweet Corp.has 100 shares of outstanding stock, all of which are owned by Ms. Mint, an individual. Identify the amount of income allocated from Herb partnership to Mr. Parsley.dual. Identify the amount of income allocated from Herb partnership to Mr. Parsley.

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