and Mitchell share equally (50%) in the profits, losses, and capital of the accrual basis AM Products LLC. Amy is a managing member LLC (treated as a general partner) and is a U.S. person. e beginning of the current year, Amy's tax basis capital account has a balance of $768,000, and the LLC has debts of $499,200 payable related parties. All debts are recourse to the LLC, but neither of the LLC members has personally guaranteed them. The following mation about AM's operations for the current year is obtained from the LLC's records. erating income" -2 wages preciation expense terest income ng-term capital loss ng-term capital gain. maritable contribution (cash) ash distribution to Amy madjusted basis of partnership property mediately after acquisition $1,152,000 200,000 300,000 11,520 7,680 23,040 11,570 57,600 1,600,000 perating income equals revenue less operating expenses (other than expenses listed separately above). -end LLC debt payable to unrelated parties is $349,440. Assume that all transactions are reflected in her beginning capital and basis in same manner. Also assume that all AM Products' activities are eligible for the qualified business income deduction. Calculate Amy's basis in her LLC interest at the beginning and end of the tax year. Use her capital account as a starting point. Cinterest at the beginning of the year: 1,017,600✔ Cinterest at the end of the year: 174,720 X

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