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following table illustrates the amount of the debt outstanding
after foreclosure of the properties:
Amount Date of
Entity Type Owed Default
D'Ambra Merc. Enterprises Subchapter C corp. $399,394.48 7/15/92
D'Ambra Corp. Subchapter C corp. 323,845.77 7/15/92
Portland Parris Street Partnership200,916.17 8/14/92
Associates
Marshview Point Partnership254,868.96 7/18/92
Partnership
Three-Sixty & One Partnership760,818.57 6/18/92
One Associates
Fifty-Nine Bramhall St. Partnership243,291.23 8/14/92
Associates
Cumberland Hanover Partnership 56,561.28 8/14/92
Associates
Cumberland Hanover Partnership 117,832.76 7/31/92
Associates
Park Avenue OnePartnership 974,468.22 6/18/92
Associates
Total debt owed ---------- $3,331,997.44 --------
Petitioner claimed the following losses on his Federal income tax
returns as his share of the partnership losses incurred:5
Tax Year Loss Claimed
1991 $72,050
1992 3,376,497
1993 3,331,997
1994 3,313,241
5 For convenience, all subsequent amounts are rounded to
the next highest dollar.
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Last modified: May 25, 2011