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Tower Point Apartments (demo)

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                
Investment 7,969,598   539250   7,430,348      
Costs Exp.During Const.                
Tax Losses 865201   8652   856548      
Cash Distributions -4986061   -49861   -4811549 -124652    
Resulting Basis 3,848,738   498041   3,475,348 -124652    
                 
EFFECT ON BASIS OF SALE                
Proceeds of Sale (gross) 13,886,098 13,886,098            
Orig. Cost & Capital Replcmnt -14606099 -14606099            
Costs Expensed During Const                
Non-Cash Charges 6,409,941 6,409,941            
Resulting Gain 5,689,940 5,689,940            
Dist.of Gain to Partners 5,689,940   56899   5,490,792 142248    
                 
Resulting Basis 9,538,678   554941   8,966,140 17597    
                 
Final Cash Distribution -9538678   -95387   -9204824 -238467    
                 
Final Basis     459554   -238684 -220870    
                 
Combined Capital Gain 5,689,940   -402655   5,729,476 363118    
                 
Est. Tax Liability 1,948,022       1,948,022      
Add'l Tax for Acc. Dep.                


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