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EA 83-XII 1983 1984 1985
Rent income $287,640 $306,577 $331,743
Late charges 548 -0- -0-
Interest income 9,344 90 1,262
Miscellaneous -0- -0- 883
Total gross income 297,532 306,667 333,888
Interest (noninvestment) 466,358 539,893 560,177
Commissions 25,460 21,950 24,846
Insurance 27,744 16,438 18,992
Legal and professional fee 726 8,093 574
Repairs 1,348 30,866 15,075
Taxes 49,224 49,213 45,962
Utilities 464 1,547 951
Homeowners dues 20,620 20,620 25,350
Audit fee 4,900 4,900 3,267
Points amortization 16,671 16,671 16,671
Property management 30,600 30,600 29,837
Real estate tax service 1,278 -0- -0-
Miscellaneous 107 -0- 856
Depreciation 173,119 173,119 173,119
Bad debts -0- 1,174 -0-
Amortization org. expense -0- 3,150 -0-
Recording fees -0- -0- 24
Service fee-EMI -0- -0- 3,413
Total expenses 818,619 918,234 -919,114
Net rental income -521,087 -611,567 -585,226
On its Schedule K, Partner's Share of Income Credits,
Deductions, etc., for 1983, EA 83-XII reported an ordinary
loss of $521,087, investment interest expense of $66,366,
net investment income of $29,306, and excess expenses from
"net lease property" of $10,859; and for purposes of
allocating tax preference items to its partners, EA 83-XII
reported a net investment loss of $341,010.
On its Schedules K for 1984 and 1985, EA 83-XII
reported ordinary losses of $611,567 and $585,226,
respectively, and investment income of $90 and $1,262,
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