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Brandon Villas of Tampa

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                
Investment 1,859,528 -104500 -135972   2,100,000      
Costs Exp.During Const.                
Tax Losses -1270797   -25416   -1245381      
Cash Distributions -1740778   -42875   -2101737 403833    
Resulting Basis -1152048 -104500 -204263   -1247118 403833    
                 
EFFECT ON BASIS OF SALE                
Proceeds of Sale (gross) 11,951,895 11,951,895            
Orig. Cost & Capital Replcmnt -7140000 -7140000            
Costs Expensed During Const                
Non-Cash Charges 3,155,863 3,155,863            
Resulting Gain 7,967,758 7,967,758            
Dist.of Gain to Partners 7,967,758   2,390,327   5,577,430      
                 
Resulting Basis 6,920,210   2,186,065   4,330,312 403833    
                 
Final Cash Distribution -6915710   -1517863   -5397847      
                 
Final Basis     668202   -1067535 403833   -4500
                 
Combined Capital Gain 7,963,258   1,722,126   6,644,965 -403833    
                 
Est. Tax Liability 1,860,590       1,860,590      
Add'l Tax for Acc. Dep.                


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