Question: Styling Shoes, LLC , filed its 2 0 8 Form 1 0 6 5 on March 1 5 , 2 0 X 9 . Styling

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 208 : (1) Jane, a member with a 25 percent profits and capital interest and a $5,000 outside basis, (2) Joe, a member with a 45 percent profits and capital interest and a $10,000 outside basis, and (3) Jack, a member with a 30 percent profits and capital interest and a $2,000 outside basis. The following items were reported on Styling's Schedule K for the year: ordinary income of $100,000, Section 1231 gain of $15,000, charitable contributions of $25,000, and tax-exempt income of $3,000. In addition, Styling received an additional nonrecourse loan of $12,000 during 20X8. What is Jane's tax basis after adjustment for her share of these items?

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