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 $ 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 percent interest; Mrs Rosemary, an individual who owns a percent interest; and SageInc a C Corporation which owns a percent interest. Sweet Corp.has shares of outstanding stock, all of which are owned by Ms Mint, an indiviThis year, HerbPartnership generated $ 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 percent interest; Mrs Rosemary, an individual who owns a percent interest; and SageInc a C Corporation which owns a percent interest. Sweet Corp.has 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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