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Conv. 9% FAHP 3% 25 Years: 13 Areas:Trial 7: Tallahassee MSA

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public Secondary Lender Underwriter/Syndctr ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                    
Investment 2384992       2384992          
Costs Exp.During Const. -5760   -58   -5702          
Tax Losses -394710   -3947   -390763          
Cash Distributions -1002836   -10028   -992808          
Resulting Basis 981685   -14033   995718          
                     
EFFECT ON BASIS OF SALE                    
Proceeds of Sale (gross) 5488629 5488629                
Orig. Cost & Capital Replcmnt -5954726 -5954726                
Costs Expensed During Const                    
Non-Cash Charges 2910977 2910977                
Resulting Gain 2444880 2444880                
Dist.of Gain to Partners 2444880   24449   2420432          
                     
Resulting Basis 3426565   10415   3416150          
                     
Final Cash Distribution -3426564   -34266   -3392298          
                     
Final Basis 2   -23850   23852          
                     
Combined Capital Gain 2444879   48299   2396580          
                     
Est. Tax Liability 814837       814837          
Add'l Tax for Acc. Dep.                    



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