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Guggenheim LIHTC Tests:Trial 7: Moderate Rehab: Tax Exempt.Fin.

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                
Investment 16885   4335   12550      
Costs Exp.During Const.                
Tax Losses -6516   -65   -6451      
Cash Distributions -4828   -48   -4780      
Resulting Basis 5540   4221   1319      
                 
EFFECT ON BASIS OF SALE                
Proceeds of Sale (gross) 31029 31029            
Orig. Cost & Capital Replcmnt -31029 -31029            
Costs Expensed During Const                
Non-Cash Charges 11736 11736            
Resulting Gain 11736 11736            
Dist.of Gain to Partners 11736   117   11618      
                 
Resulting Basis 17276   4339   12937      
                 
Final Cash Distribution -17276   -173   -17103      
                 
Final Basis     4166   -4166      
                 
Combined Capital Gain 11735   -4048   15784      
                 
Est. Tax Liability 4419       4419      
Add'l Tax for Acc. Dep.                



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