Amy and Mitchell share equally in the profits, losses, and capital of the accrual basis AM Products LLC. The LLC does not need to report financial information to any third parties, so capital accounts are determined using tax rules (rather than GAAP). Amy is a managing member of the LLC (treated as a general partner) and is a U.S. person.

At the beginning of the current tax year, Amy's capital account has a balance of $928,000, and the LLC has debts of $603,200 payable to unrelated parties. All debts are recourse to the LLC, but neither of the LLC members has personally guaranteed them. The following information about AM's operations for the current year is obtained from the LLC's records.

Operating income*	$1,392,000
W-2 wages	200,000
Depreciation expense	300,000
Interest income	13,920
Long-term capital loss	9,280
Long-term capital gain	27,840
Charitable contribution (cash)	13,970
Cash distribution to Amy	69,600
Unadjusted basis of partnership property immediately after acquisition	1,600,000

* Operating income equals revenue less operating expenses (other than expenses listed separately above).

Year-end LLC debt payable to unrelated parties is $422,240. Assume that all transactions are reflected in Amy's beginning capital and basis in the same manner. Also assume that all AM Products' activities are eligible for the qualified business income deduction.

a. Calculate Amy's basis in her LLC interest at the beginning and end of the tax year. Use her capital account as a starting point. LLC interest at the beginning of the year: $fill in the blank 74f9a0047ffd067_1 LLC interest at the end of the year: $fill in the blank 74f9a0047ffd067_2.

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A partner's basis in the LLC interest is important for determining the treatment of distributions from the LLC to the partner, establishing the deductibility of LLC losses, and calculating gain or loss on the partner's disposition of the LLC interest. After the partner is admitted to the LLC, the partner's basis is adjusted for numerous items.

b. What income, gains, losses, and deductions does Amy report on her income tax return?

If an amount is zero, enter "0".

Ordinary income	$fill in the blank 5d52f7011048fb1_1
Net long-term capital gain	$fill in the blank 5d52f7011048fb1_2
Interest income	$fill in the blank 5d52f7011048fb1_3
Charitable contribution deduction	$fill in the blank 5d52f7011048fb1_4
Cash distribution	$fill in the blank 5d52f7011048fb1_5