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ABCO Joint Venture

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                
Investment 1514   14 1500        
Costs Exp.During Const.                
Tax Losses 8296   830 4148 3318      
Cash Distributions -11340   -1134 -5670 -4536      
Resulting Basis -1530   -290 -22 -1218      
                 
EFFECT ON BASIS OF SALE                
Proceeds of Sale (gross) 67275 67275            
Orig. Cost & Capital Replcmnt -9318 -9318            
Costs Expensed During Const                
Non-Cash Charges 3672 3672            
Resulting Gain 61629 61629            
Dist.of Gain to Partners 61629   4967 36792 19870      
                 
Resulting Basis 60099   4677 36770 18652      
                 
Final Cash Distribution -60099   -4690 -36763 -18646      
                 
Final Basis     -13 7 6      
                 
Combined Capital Gain 61629   4980 36785 19864      
                 
Est. Tax Liability 3973       3973      
Add'l Tax for Acc. Dep.                



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