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NDC Covenant Village in Belle Glade - 144 Units

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                
Investment 1,423,730           1,423,730  
Costs Exp.During Const.                
Tax Losses -447977   -447977          
Cash Distributions -854238   -854238          
Resulting Basis 121515   -1302215       1,423,730  
                 
EFFECT ON BASIS OF SALE                
Proceeds of Sale (gross) 5,373,977 5,373,977            
Orig. Cost & Capital Replcmnt -5761716 -5761716            
Costs Expensed During Const                
Non-Cash Charges 2,120,454 2,120,454            
Resulting Gain 1,732,715 1,732,715            
Dist.of Gain to Partners 1,732,715   1,732,715          
                 
Resulting Basis 1,854,230   430500       1,423,730  
                 
Final Cash Distribution -1854230   -1854230          
                 
Final Basis     -1423730       1,423,730  
                 
Combined Capital Gain 1,732,715   3,156,445       -1423730  
                 
Est. Tax Liability                
Add'l Tax for Acc. Dep.                


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