Answer:
$62,000
Step-by-step explanation:
Jane's adjusted basis for partnership interest at year end = Jane's basis for partnership interest at the beginning + proportionate share in income earned during the period - proportionate share in liabilities incurred during the period - proportionate share in any contribution
= $60,000 + $10,000 - $5000 - $3000
= $62,000
Partnership basis and a partner's capital account refer to different concepts. A partner's base refers to the amount which is subject to tax, thus it can never be negative.
On the other hand, capital account balance of a partner can be in negative in case of insolvency.