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real estate developer and that he is currently employed as a real
estate broker. Winer received a bachelor's degree in 1959 from
Pennsylvania State University and attended St. Joseph's College
and Temple University for advanced studies. Winer was identified
in the Davenport offering as the TMP of Davenport.
Winer had been involved with other tax shelter transactions
before he became a promoter of the Plastics Recycling
partnerships. He had been a syndicator of numerous coal tax
shelters. The record does not contain information regarding how
Winer initially became a promoter of the Plastics Recycling
partnerships.
D. Participants and Their Involvement With Davenport
Participant Ernest C. Karras (Karras) acquired a 5.50-
percent interest in Davenport in 1982 for a capital contribution
of $50,000. The Schedule K-1 attached to Davenport's 1982 return
showed that Karras had a partnership loss from Davenport of
$39,231, and a basis for investment tax credits and energy
credits of $385,000. The record does not include copies of
participants' Federal income tax returns.
Karras has a bachelor's degree in electrical engineering
from the University of Illinois, has done postgraduate work in
telecommunications and computer sciences, and has a master's
degree in industrial management from DePaul University. At all
times since 1982, Karras has been owner, president, and CEO of an
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Last modified: May 25, 2011