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Regional Shopping Center Illustration:Phase 1: Initial Phase

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                
Investment -8442739   -19611627   11,168,887      
Costs Exp.During Const.                
Tax Losses 9,988,290   9,988,290          
Cash Distributions -26184186   -26184186          
Resulting Basis -24638635   -35807523   11,168,887      
                 
EFFECT ON BASIS OF SALE                
Proceeds of Sale (gross) 165,866,948 165,866,948            
Orig. Cost & Capital Replcmnt -58989581 -58989581            
Costs Expensed During Const                
Non-Cash Charges 26,001,927 26,001,927            
Resulting Gain 132,879,294 132,879,294            
Dist.of Gain to Partners 132,879,294   76,936,084   55,943,211      
                 
Resulting Basis 108,240,659   41,128,561   67,112,098      
                 
Final Cash Distribution -108240659   -50080442   -58160218      
                 
Final Basis     -8951881   8,951,881      
                 
Combined Capital Gain 132,879,294   85,887,964   46,991,330      
                 
Est. Tax Liability                
Add'l Tax for Acc. Dep.                



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