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Shelter School Renovation (L&H):Phase 1: Residential

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                
Investment 1,261,048   -1384452   2,645,500      
Costs Exp.During Const.                
Tax Losses 332392       332392      
Cash Distributions -2195984       -2195984      
Resulting Basis -602543   -1384452   781908      
                 
EFFECT ON BASIS OF SALE                
Proceeds of Sale (gross) 3,373,875 3,373,875            
Orig. Cost & Capital Replcmnt -2824377 -2824377            
Costs Expensed During Const                
Non-Cash Charges 2,157,116 2,157,116            
Resulting Gain 2,706,614 2,706,614            
Dist.of Gain to Partners 2,706,614       2,706,614      
                 
Resulting Basis 2,104,071   -1384452   3,488,522      
                 
Final Cash Distribution -2104071       -2104071      
                 
Final Basis     -1384452   1,384,452      
                 
Combined Capital Gain 2,706,614   1,384,452   1,322,162      
                 
Est. Tax Liability 449535       449535      
Add'l Tax for Acc. Dep.                



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