- 2 -
with respect to the partnership items reported by Epic
Associates 83-XII (referred to herein as EA 83-XII):
1983 1984 1985
Disallow interest and point $483,029 $556,564 $576,848
amortization deductions
Disallow depreciation 173,119 173,119 173,119
deductions
Disallow claimed net investment(341,010) -0- -0-
loss
Disallow qualified investment -0– 303,571 330,529
income
Disallow qualified investment -0- 908,960 909,831
expenses
Disallow excess expenses from 10,859 -0- -0-
net lease property
Disallow investment interest 66,366 -0- -0-
income
Disallow net investment income29,306 -0- -0-
Disallow investment income -0- 90 1,262
Respondent issued notices of FPAA in which respondent
determined the following adjustments with respect to the
partnership items reported by Epic Associates 84-III
(referred to herein as EA 84-III):
1983 1984 1985
Disallow interest and point $121,535 $536,280 $559,662
amortization deductions
Disallow depreciation 56,910 170,742 170,742
deductions
Disallow deductions in -0- -0- 44,219
excess of income
Disallow claimed net (141,142) -0- -0-
investment loss
Disallow qualified investment -0– 217,619 229,131
income
Disallow qualified investment -0- 872,376 997,436
expenses
Disallow net investment income6,097 -0- -0-
Disallow investment income -0- -0- 494
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Last modified: May 25, 2011