- 60 - interest payments made and/or imputed by PKVI LP to PK Ventures, TBPC, or TPTC on its Form 1065 for 1987. No direct references were made and no explanations were provided in PK Ventures, TBPC, or TPTC’s financial statements for the year ended December 31, 1987, as to the amounts that PK Ventures, TBPC, and TPTC transferred to PKVI LP during that year. No direct references were made and no explanations were provided in PKV&S’s consolidated income tax return for 1987 as to the amounts that PK Ventures, TBPC, and TPTC transferred to PKVI LP during that year. There were no amounts separately identified as interest payments received and/or imputed by PK Ventures, TBPC, or TPTC from PKVI LP on PKV&S’s consolidated income tax return for 1987. c. 1988 Note 4 to PKVI LP’s audited financial statements for the year ended December 31, 1988, stated, in pertinent part: “At December 31, 1988, the Partnership owed $20,580 to P.K. Ventures, Inc. and $105,978 to affiliated entities which are respectively owned by the Partnerships’ general partners.” On the Statement of Financial Condition included in PKVI LP’s audited financial statements for the year ended December 31, 1988, $126,558 “Due to affiliated company” was listed as a current liability.Page: Previous 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 Next
Last modified: May 25, 2011