- 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 89,312Page: Previous 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Next
Last modified: May 25, 2011