#39 Leonard and Penny, a married couple, formed the equally owned calendar year PL several years ago. Capital is a material income-factor for On July 1 of this year, they transferred a 20% interest to their son, Sheldon (after the transfer, 40% is owned by Sheldon Leonard and l'enny cach retained 30% interests)For the current tax year, reported incomic of 300,000which was evenly throughout the year. Penny provides uncompensated services to the partnership \$100,0000 ; 1.conard and Sheldon provide no services. The partnership uses a monthly profation of income. How much income will be allocated to Penny, Leonard, and Sheldon for the year?

#40 On December 31 of last year, Maria.....

Question 39 4 pts Leonard and Penny, a married couple, formed the equally owned calendar year PL LLC several years ago. Capital is a material income-producing factor for the LLC. On July 1 of this year, they cach transfered a 20% interest to their son, Sheldon (after the transfer, 40% is owned by Sheldon; Leonard and Penny each retained 30% interests). For the current tax year, PL reported income of $300,000, which was earned evenly throughout the year. Penny provides uncompensated services to the partnership valoed a $100,000, Leonard and Sheldon provide no services. The partnership uses a monthly proration of income. How much income will be allocated 10 Penny, Leonard, and Sheldon for the year? a 5300,000 to Penny, 50 to Leonard, SO to Sheldon 890,000 to Penny, 590,000 to Leonard, $120,000 to Sheldon $180,000 to Penny, S80,000 to Leonard, 540,000 to Sheldon $120,000 to Penay: S120,000 to Leonard, $60,000 to Sheldon. 4 pts Question 40 On December 31 of last year, Mania gave her daughter, Chelsea, a pit of a 25% interest in a partnership in which capital is a material income-producing factor For the current calendar year, the partnership's ordinary income was $100,000. Maria and Chelsea were the only partners, and there were no guarunteed payments Maria's services performed for the partnership were worth $60,000, and Chelsea has never performed any services. What is Maria distributive share of partnership income for the current year? 590,000 575.000 525.000 $6.000