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Styling Shoes, LLC. filed its 20x8 Form 1065 on March 15, 20x9 Styling had three members with the following ownership interests and tax bases

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Styling Shoes, LLC. filed its 20x8 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 $12,000 outside basis, (2) Joe, a member with a 45 percent profits and capital interest and a $17,000 outside basis, and (3) Jack, a member with a 30 percent profits and capital interest and a $9,000 outside basis. The following items were reported on Styling's Schedule K for the year: ordinary income of $114,000, Section 1231 gain of $22.000. charitable contributions of $32.000, and tax-exempt income of $10,000. In addition, Styling received an additional bank loan of $19.000 during 20x8 What is Jane's tax basis after adjustment for her shore of these Rems? Mutiple Choice 0 O O $40.500 $45250 $4,900 $76850 < Prev 13 of 50 Next >

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