Styling Shoes, LLC filed its 2010 Form 1065 on March 15, 2011. Styling had three members with the following ownership interests and tax basis at the…

Styling Shoes, LLC filed its 2010 Form 1065 on March 15, 2011. Styling had three members with thefollowing ownership interests and tax basis at the beginning of the 2010: (1) Jane, a member with a25% profits and capital interest and a $5,000 outside basis, (2) Joe, a member with a 45% profits andcapital interest and a $10,000 outside basis, and (3) Jack, a member with a 30% profits and capitalinterest and a $2,000 outside basis. The following items were reported on Styling’s Schedule K for theyear: ordinary income of $100,000, §1231 gain of $15,000, charitable contributions of $25,000, andtax-exempt income of $3,000. In addition, Styling received an additional bank loan of $12,000 during2010. What is Jane’s tax basis after adjustment for her share of these items?

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