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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.
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