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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

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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 capital interest and a $15,000 outside basis, (2) Joe, a member with a 45 percent profits and capital interest and a $20,000 outside basis, and (3) Jack, a member with a 30 percent profits and capital interest and a $12,000 outside basis. The following items were reported on Styling's Schedule K for the year: ordinary income of $120,000,5ection1231 gain of $25,000, charitable contributions of $35,000, and tax-exempt income of $13,000. In addition, Styling received an additional bank loan of $22,000 during 208. What is Jane's tox basis after adjustment for her share of these items? Multiple Choice $45,750 $55,500 $85,250 $51,250

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