- 15 - Property Qualified for Investment Credit New Name of Partnership Recovery Property - Other Kelly-Brock Drilling Partners 1981-1 $11,447 Odessey Partners 81 Limited Partnership 8,161 Matagorda Limited Partnership II 1,246 Madison Recycling 577,500 Neither Schedule E nor Statement 2 referred to Form 3468, Computation of Investment Credit (Form 3468), that was included as part of the 1982 joint tax return. Form 3468, “PART II. - Qualified Investment”, showed the following: (1) (2) (3) (4) Qualified Investment Class of UnadjustedApplicable(Column 2 x 1 Recovery Property Line Property Basis percentage column 3) New (a) 3-year 60 Property Regular (b) Other 598,354 100 598,354 Percentage Used (c) 3-year 60 Property (d) Other 100 * * * * * * * 5 Total qualified investment in 10% property - Add lines 1(a) through 1(h), 2, 3, and 4 (See instructions for special limits)[9] . . . . . . . . . . . . . . . . . . . . . 598,354 Form 3468, “PART III. - Tentative Regular Investment Credit”, showed the following: 9No entries were made on lines 1(e) through 1(h) and lines 2 through 4 of Form 3468.Page: 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