- 92 -
Current
Prior Year Year Adjusted
Description Balance Balance Adjustments Balance
C.R. Stone- $100,000 $100,000 1$1,269,115.91 $1,369,115.9
Estate Taxes 1
1The $1,269,115.91 expenditure reflected in CRSLP’s 1999
Montebello expense schedule with respect to Mr. Stone’s estate
equals the amounts of Federal and State estate taxes and interest
with respect to Mr. Stone’s estate that E&Y’s Estate tax alloca-
tion schedule reflected as payable by CRSLP in 1999.
A schedule entitled “C. Rivers Stone LLP ‘99, Montebello
Actual Expenses (1/20/00)” (CRSLP’s 1999 Montebello expense
schedule) reflected in pertinent part the following entries:
Vendor C/F March 1999 1999 Totals Grand Totals
Estate Taxes $100,000 $1,269,115.91 $1,269,115.91 $1,369,115.91
1
First Trust-Est.0 534,980.73 534,980.73
Tax Loan
2
South Trust- 0 14,837.39 14,837.39
Estate Tax Loan
1The 1999 Montebello expense schedule reflected various
entries on the line entitled “First Trust-Est. Tax Loan” for each
of the months February through December 1999. Those entries,
when totaled, equaled the “1999 Totals” reflected on that line.
2The 1999 Montebello expense schedule reflected various
entries on the line entitled “South Trust-Estate Tax Loan” for
each of the months April through July 1999. Those entries, when
totaled, equaled the “1999 Totals” reflected on that line.
The partnership return that RSMLP filed for 1999 reflected
that RSMLP made distributions during that year to Mr. Stone’s
estate of $1,041,87160 and did not make distributions during that
year to any of its other partners.
60The $1,041,871 distribution to Mr. Stone’s estate shown in
RSMLP’s 1999 partnership return exceeds the total amount of
Federal and State estate taxes and interest with respect to Mr.
Stone’s estate (i.e., $723,468.34) that E&Y’s Estate tax alloca-
tion schedule reflected as payable by RSMLP in 1999.
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