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Executive Plaza (Under Construction)

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                
Investment 609342   238286   371057      
Costs Exp.During Const. -6485   -3242   -3242      
Tax Losses -826885   -413442   -413442      
Cash Distributions -1352970   -676485   -676485      
Resulting Basis -1576997   -854884   -722113      
                 
EFFECT ON BASIS OF SALE                
Proceeds of Sale (gross) 7,796,900 7,796,900            
Orig. Cost & Capital Replcmnt -3599500 -3599500            
Costs Expensed During Const                
Non-Cash Charges 1,950,790 1,950,790            
Resulting Gain 6,148,190 6,148,190            
Dist.of Gain to Partners 6,148,190   3,074,095   3,074,095      
                 
Resulting Basis 4,571,193   2,219,211   2,351,982      
                 
Final Cash Distribution -4571193   -2219211   -2351982      
                 
Final Basis                
                 
Combined Capital Gain 6,148,190   3,074,095   3,074,095      
                 
Est. Tax Liability 614819       614819      
Add'l Tax for Acc. Dep. 309793       309793      


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