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PSC Regional Shopping Center: 10 Year Refinance (6 37):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 -7726171   -21514921   13,788,750      
Costs Exp.During Const.                
Tax Losses 9,435,940   9,435,940          
Cash Distributions -25416797   -25416797          
Resulting Basis -23707029   -37495779   13,788,750      
                 
EFFECT ON BASIS OF SALE                
Proceeds of Sale (gross) 184,296,609 184,296,609            
Orig. Cost & Capital Replcmnt -66922854 -66922854            
Costs Expensed During Const                
Non-Cash Charges 28,891,030 28,891,030            
Resulting Gain 146,264,785 146,264,785            
Dist.of Gain to Partners 146,264,785   85,484,537   60,780,248      
                 
Resulting Basis 122,557,756   47,988,758   74,568,998      
                 
Final Cash Distribution -122557756   -57362703   -65195053      
                 
Final Basis     -9373945   9,373,945      
                 
Combined Capital Gain 146,264,785   94,858,482   51,406,303      
                 
Est. Tax Liability                
Add'l Tax for Acc. Dep.                


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