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TQK, LLC, provides consulting services and was formed on 1/31/X5. Aaron and ABC, Incorporated, each hold a 50 percent capltal and profits interest In TQK. If TQK averaged $29,000,000 in annual gross recelpts over the last three years, what accounting method can TQK use for 9 ? Multiple Choice Accrual method Cash method Hybrid method Accrual method or cash method Styling Shoes, LLC, filed Its 208 Form 1065 on March 15, 20X9. Styling had three members with the following ownership Interests and tax bases at the beginning of 20X8: (1) Jane, a member with a 25 percent profits and capltal Interest and a $9,000 outside basis, (2) Joe, a member with a 45 percent profits and capital Interest and a $14,000 outside basis, and (3) Jack, a member with a 30 percent profits and capltal Interest and a $6,000 outside basis. The following Items were reported on Styling's Schedule K for the year. ordinary Income of $108,000, Section 1231 gain of $19,000, charltable contributions of $29,000, and tax-exempt Income of $7,000. In addition, Styling recelved an additional bank loan of $16,000 durlng 208. What is Jane's tax basis after adjustment for her share of these Items? Multiple Choice $35,250 $39,250 $42,300 $68,450