Styling Shoes, LLC filed its 20X8 Form 1065 on March 15, 20X9.
Styling had three members with the following ownership interests
and tax basis at the beginning of the 20X8: (1) Jane, a member with
a 25% profits and capital interest and a $8,500 outside basis, (2)
Joe, a member with a 45% profits and capital interest and a $13,500
outside basis, and (3) Jack, a member with a 30% profits and
capital interest and a $5,500 outside basis. The following items
were reported on Styling's Schedule K for the year: ordinary income
of $107,000, Section 1231 gain of $18,500, charitable contributions
of $28,500, and tax-exempt income of $6,500. In addition, Styling
received an additional bank loan of $15,500 during 20X8. What is
Jane's tax basis after adjustment for her share of these items?
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