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601 Liberty, 1.1M sf Office, Conventional Mortgage

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                
Investment 31300   18380   12920      
Costs Exp.During Const.                
Tax Losses -46791   -46791          
Cash Distributions -53598   -40198   -13399      
Resulting Basis -69089   -68610   -479      
                 
EFFECT ON BASIS OF SALE                
Proceeds of Sale (gross) 308972 308972            
Orig. Cost & Capital Replcmnt -168081 -168081            
Costs Expensed During Const                
Non-Cash Charges 106599 106599            
Resulting Gain 247491 247491            
Dist.of Gain to Partners 247491   198616   48874      
                 
Resulting Basis 178402   130007   48395      
                 
Final Cash Distribution -178402   -116607   -61794      
                 
Final Basis     13399   -13399      
                 
Combined Capital Gain 247491   185217   62274      
                 
Est. Tax Liability 51861   51861          
Add'l Tax for Acc. Dep.                


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