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1Capital account information on Schedule K-1 was supplied by petitioner's accountant,
Mr. Garry L. David.
2Petitioner had a limited partnership interest only.
The Schedules K-1 issued by the partnerships for 1988 state the
following:
1988 Tax Year
Beginning Distributive Other Contributed Withdrawals Ending
Capital Share Income Capital and Capital
Partnership Account Income (Loss) (Loss) for Year Distributions Account
Speed Line
Investment ($38,961.00) ($3,178) -- -- -- ($42,139.00)
Oakbrook III,
Ltd. (446,433.00) (11,875) $419,639 -- -- (38,669.00)
Dondi Presi- --
dents' Part-
nership II1 (54,834.00) (3,707) 16,921 -- ($35,206) --
1626 NY
Associates
Ltd. Partner-
ship (112,900.56) (44,640) -- -- -- (157,628.56)
1Petitioner had a limited partnership interest only.
According to the Schedules K-1, petitioner's share of
the liabilities of each partnership is as follows:
1987 1988
Partnership Other Nonrecourse Other Nonrecourse
Speed Line Investment -- -- -- --
Oakbrook III, Ltd. -- $638,108 -- --
Dondi Presidents'
Partnership II $27,934 65,700 -- --
1626 NY Associates
Ltd. Partnership 53,057 428,488 $57,352 $309,682
Bear Creek West
Rental Properties -- -- 1 1
Haywood Lane Joint
Venture -- -- 1 1
Murfreesboro Road
Joint Venture -- -- 1 1
Total 80,991 1,132,296 57,352 309,682
1A Schedule K-1 was not entered into evidence.
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