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BHP II Limited Partnership

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public Secondary Lender Underwriter/Syndctr General Partner Operator Tenant Entity 11 ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                            
Investment 11,704,391   -4295609   16,000,000                  
Costs Exp.During Const.                            
Tax Losses -40739969   -407400   -40332569                  
Cash Distributions                            
Resulting Basis -29035578   -4703009   -24332569                  
                             
EFFECT ON BASIS OF SALE                            
Proceeds of Sale (gross) 74,261,478 74,261,478                        
Orig. Cost & Capital Replcmnt -79546571 -79546571                        
Costs Expensed During Const                            
Non-Cash Charges 47,113,134 47,113,134                        
Resulting Gain 41,828,041 41,828,041                        
Dist.of Gain to Partners 41,828,041   20,914,020   19,868,319         1,045,701        
                             
Resulting Basis 12,792,463   16,211,011   -4464250         1,045,701        
                             
Final Cash Distribution -12534960       -12534960                  
                             
Final Basis 257503   16,211,011   -16999209         1,045,701        
                             
Combined Capital Gain 41,570,538   4,703,009   36,867,529                  
                             
Est. Tax Liability 12,534,960       12,534,960                  
Add'l Tax for Acc. Dep.                            


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