- 86 -
Amount
General Limited
Year Item Interest Interest
1986 Capital contributed during year $500 --
Net long-term capital gain 29 -–
Withdrawals and distributions -- -–
Ordinary loss from business activities (1,323) -–
Net short-term capital loss (13) -–
1987 Capital contributed during year -- --
Interest income 69 -–
Withdrawals and distributions -- -–
Ordinary loss from business activities (2,036) -–
1988 Capital contributed during year 3,540 --
Withdrawals and distributions -– --
Ordinary loss from business activities (18,515) -–
1989 Capital contributed during year -- --
Withdrawals and distributions -– --
Ordinary loss from business activities (26,497) -–
1990 Capital contributed during year -- ($95,640)
Net gain under section 1231 708 2,105
Withdrawals and distributions -– --
Ordinary loss from business activities (32,301) (96,097)
1991 Capital contributed during year -- --
Cancellation of indebtedness income 81,119 373,755
Withdrawals and distributions -– --
Ordinary loss from business activities (32,327) (148,944)
1992 Capital contributed during year -- --
Withdrawals and distributions -– --
Ordinary loss from business activities (44,925) (206,996)
1993 Capital contributed during year -- --
Withdrawals and distributions -– --
Ordinary loss from business activities (33,561) (154,631)
Net loss under section 1231 (4,405) (20,296)
B. As Reported on the Income Tax Returns for PK Ventures
and PKV&S
PK Ventures reported the following amount with respect to
its interest in PKVI LP on its income tax return for 1986, and
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