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EA 84-III 1983 1984 1985
Rent income $80,124 $228,516 $230,130
Interest -0- -0- 494
Total gross income 80,124 228,516 230,624
Interest (noninvestment) 118,082 522,466 545,848
Commissions 5,305 23,198 19,403
Insurance 5,480 16,663 19,894
Legal and professional fee 6,895 687 1,008
Repairs 8,500 19,782 108,459
Taxes 18,123 72,554 72,617
Utilities 1,726 33,555 1,830
Homeowners dues 998 3,993 12,353
Property management fee 8,250 33,000 32,175
Points amortization 3,453 13,814 13,814
Miscellaneous 141 606 574
Audit fee -0- 5,000 3,333
Service fee -0- -0- 3,197
Depreciation 56,910 170,742 170,742
Total expenses 233,863 916,060 1,005,247
Net rental income -153,739 -687,544 -774,623
On its Schedule K, Partner's Share of Income,
Credits, Deductions, etc., for 1983, EA 84-III reported
an ordinary loss of $153,739, a net investment loss of
$141,142 for purposes of allocating tax preference items
to its partners, and net investment income of $6,097 for
purposes of computing investment interest. On its
Schedules K for 1984 and 1985, EA 84-III reported ordinary
losses of $687,544 and $774,623, respectively, and
investment income of zero and $494, respectively; and for
purposes of allocating tax preference items to its
partners, EA 84-III reported qualified investment income
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