- 15 -
the partners’ bases, have resulted in a capital gain. See Exhibit
3 to show you how we figured the gain.” Exhibit 3 computes the
gain as follows:
12/31/96 12/31/97
Curtis & Lynn Bitker
Short-term capital gain or loss $506,139 $87,801
Short-term capital loss carryover -0- -0-
Net short-term capital gain or 506,139 87,801
Long-term capital gain or loss 7,378 6,238
Long-term capital loss carryover -0- -0-
Net long-term gain or loss 7,378 6,238
Net capital gain or loss 513,517 94,039
Capital loss limitation -0- -0-
Capital gain or loss as corrected 513,517 94,039
Capital gain or loss per return 40,501 4,727
Adjustment to income 473,015 89,312
Jerry & Coleen Bitker
Short-term capital gain or loss 504,634 89,312
Short-term capital loss carryover -0- -0-
Net short-term capital gain or 504,634 89,312
Long-term capital gain or loss 9,634 10,521
Long-term capital loss carryover -0- -0-
Net long-term gain or loss 9,634 10,521
Net capital gain or loss 514,268 99,833
Capital loss limitation -0- -0-
Capital gain or loss as corrected 514,268 99,833
Capital gain or loss per return 41,253 10,521
Adjustment to income 473,015 89,312
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