Harbor Cove Marina Partners Partnership, Robert A. Collins, A Partner Other Than The Tax Matters Partner - Page 12

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               On April 15, 1999, HCMP filed its 1998 partnership return              
          for the period from January 1 to December 7, 1998.  In addition             
          to reporting that it was a “final” return, the return reported              
          that as of the end of December 7, 1998, (1) HCMP had terminated             
          and had no assets or liabilities, (2) HCMP had liquidated                   
          Collins’s interest in it through a cash distribution of $389,662,           
          (3) each HCMP partner’s share of partnership liabilities was                
          zero, and (4) each HCMP partner’s capital account had a zero                
          balance.  HCMP’s partners as of December 7, 1998, were Collins,             
          Marina Holdings, and Sunroad general partnership.6  HCMP reported           
          on its 1998 partnership return that these partners had received             
          the following distributions during 1998:                                    
                         Money   Other than Money     Total                           
          Sunroad general                                                             
          partnership     $63,996    ($4,312,809)   ($4,248,813)                      
          Marina Holdings    18,415        466,023        484,438                     
          Collins           389,662                       389,662                     
               Marina Holdings and Sunroad general partnership each filed a           
          “final” 1998 partnership return for the period from January 1, to           
          December 7, 1998.  Marina Holdings reported on its 1998                     
          partnership return that as of December 7, 1998, its general                 
          partner was Sunroad Asset, and its limited partners were Sunroad            



               6 Sunroad general partnership began business on Oct. 1,                
          1998.  The record does not reflect the details on the transfer of           
          the HCMP interest from Sunroad Asset to Sunroad general                     
          partnership.                                                                




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