Second question is priority

1. During the tax year, a new partner (Julie Brown) experiences the following:

contributes property with a tax basis of $80,000 and a fair market value of $100,000;

has income of $8,000 allocated to her from the partnership;

has $10,000 of partnership liabilities allocated to her from the partnership;

takes a cash withdrawal of $5,000 from the partnership.

What is the ending value of Julie Brown's outside basis?

REFER TO YOUR ANSWER TO THE PREVIOUS QUESTION

2. In Year 2 of Julie's membership year, the following partnership items occur:

Julie is passed through a $2,000 partnership loss;

the partnership pays off part of the partnership's liabilities and Julie's share of those retired liabilities is $1,000.

What is the ending value of Julie Brown's outside basis after year 2?