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Covenant Village:FAHP & LIHTC Test:Trial 6: Test All Form Inputs: Projection

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 2404527 -350000 349939   2404588          
Costs Exp.During Const. -5760   -58   -5702          
Tax Losses -857901   -8579   -849322          
Cash Distributions -503780   -5038   -498742          
Resulting Basis 1037086 -350000 336264   1050822          
                     
EFFECT ON BASIS OF SALE                    
Proceeds of Sale (gross) 5513401 5513401                
Orig. Cost & Capital Replcmnt -5979498 -5979498                
Costs Expensed During Const                    
Non-Cash Charges 2933804 2933804                
Resulting Gain 2467707 2467707                
Dist.of Gain to Partners 2467707   769830   1697877          
                     
Resulting Basis 3854793   1106095   2748699          
                     
Final Cash Distribution -3854797   -1476701   -2378096          
                     
Final Basis -4   -370607   370603          
                     
Combined Capital Gain 2467711   1140437   1327274          
                     
Est. Tax Liability 451273       451273          
Add'l Tax for Acc. Dep.                    



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