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Guggenheim Demo:Trial 1: New Construction - $80,000 Cost per Unit; Conventional Financing

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                
Investment 41650       41650      
Costs Exp.During Const.                
Tax Losses -25854   -25854          
Cash Distributions -8029   -8029          
Resulting Basis 7767   -33883   41650      
                 
EFFECT ON BASIS OF SALE                
Proceeds of Sale (gross) 80000 80000            
Orig. Cost & Capital Replcmnt -80000 -80000            
Costs Expensed During Const                
Non-Cash Charges 43182 43182            
Resulting Gain 43182 43182            
Dist.of Gain to Partners 43182   43182          
                 
Resulting Basis 50948   9298   41650      
                 
Final Cash Distribution -50948   -50948          
                 
Final Basis     -41650   41650      
                 
Combined Capital Gain 43182   84832   -41650      
                 
Est. Tax Liability                
Add'l Tax for Acc. Dep.                


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