Amy and Mitchell are equal partners in the accrual basis AM Partnership. At the beginning of the current tax year, Amy’s capital account has a balance of $300,000, and the partnership has recourse debts of $200,000 payable to unrelated parties. Assume that all partnership recourse debt is shared equally between the partners. The following information about AM’s operations for the current year is obtained from the partnership’s records:

Ordinary income ………………………… $400,000

Interest income ……………………………..  4,000

Long-term capital loss             ……………………..  6,000

Short-term capital gain……………………..  12,000

Charitable contribution ……………………   4,000

Cash distribution to Amy …………………    20,000

Assume that year-end partnership debt payable to unrelated parties is $140,000. If all transactions are reflected in her beginning capital and basis in the same manner, what is Amy’s basis in the partnership interest:

a. At the beginning of the year?

b. At the end of the year?