Durham Farms #1 - Page 90




                                       - 90 -                                         
                  Investment credit                       $2,189,204                  
        9-30-88   Total Adjustments to Ordinary Income                                
                  Gross receipts or sales                 217,125                     
                  Income–-receipt of distrib.             1,450,793                   
                  ptrship. assets                                                     
                  Sales–-livestock raised                 1,600,240                   
                  Management fees                         54,610,680                  
                  Sales to Ranches                        41,409,067                  
                  Other sales                             7,339,811                   
                  Other income                            99,660                      
                  Depreciation expense                    141,467                     
                  Interest expense                        14,770                      
                  Other farm deductions                   5,924,524                   
                                                                                     
                  Other Adjustments                                                   
                  Self-employment income                  5,574,221                   
                  Fuel credit                             13,223                      
        9-30-89   Total Adjustments to Ordinary Income                                
                  Gross receipts or sales       99,751                                
                  Income–-discharge of indebtedness    4,984,403                      
                  Income–-receipt of distrib.        10,809,647                       
                       ptrship. assets                                                
                  Sales–-livestock raised            6,491,658                        
                                                                                     
                  Management fees                         35,889,200                  
                  Sales to Ranches                        54,879,409                  
                  Other sales                            12,131,943                  
                  Depreciation expense               141,858                          
                  Interest expense                   369,617                          
                  Other farm deductions              7,058,246                        
                                                                                     
                  Other Adjustments                                                   
                  Self-employment income                  16,580,142                  
                  Fuel credit                             13,223                      
                  Section 179 expense                     13,566                      
        9-30-90   Total Adjustments to Ordinary Income                                
                  Income–-receipt of distrib.        8,160,745                        
                      ptrship. assets                                                
                  Basis livestock sold               172,739                          
                  Sales–-livestock raised                 1,999,969                   
                  Management fees                         46,762,200                  
                  Sales to Ranches                        32,057,283                  
                  Other sales                             1,441,785                   





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Last modified: May 25, 2011