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Low Income Housing Tax Credit Syndication Demo

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 3,416,689   351689   3,065,000          
Costs Exp.During Const.                    
Tax Losses -2079503   -20795   -2058708          
Cash Distributions -89680   -897   -88783          
Resulting Basis 1,247,507   329997   917509          
                     
EFFECT ON BASIS OF SALE                    
Proceeds of Sale (gross) 5,490,424 5,490,424                
Orig. Cost & Capital Replcmnt -5956521 -5956521                
Costs Expensed During Const                    
Non-Cash Charges 3,247,851 3,247,851                
Resulting Gain 2,781,754 2,781,754                
Dist.of Gain to Partners 2,781,754   768421   2,013,333          
                     
Resulting Basis 4,029,261   1,098,419   2,930,842          
                     
Final Cash Distribution -4029261   -1127397   -2901864          
                     
Final Basis     -28978   28978          
                     
Combined Capital Gain 2,781,754   797399   1,984,355          
                     
Est. Tax Liability 674681       674681          
Add'l Tax for Acc. Dep.                    



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