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Year Item Amount
1986 Capital contributed during year --
Net long-term capital gain $865
Withdrawals and distributions --
Ordinary loss from business activities (39,700)
Net short-term capital loss (388)
1987 Capital contributed during year --
Interest income 2,077
Withdrawals and distributions --
Ordinary loss from business activities (61,096)
1988 Capital contributed during year --
Withdrawals and distributions --
Ordinary loss from business activities (103,820)
1989 Capital contributed during year (94,525)
Withdrawals and distributions --
Ordinary loss from business activities (346,692)
1990 Capital contributed during year --
Net gain under section 1231 9,256
Withdrawals and distributions --
Ordinary loss from business activities (422,629)
1991 Capital contributed during year --
Cancellation of indebtedness income 1,061,372
Withdrawals and distributions --
Ordinary loss from business activities (422,964)
1992 Capital contributed during year --
Withdrawals and distributions --
Ordinary loss from business activities (587,817)
1993 Capital contributed during year --
Withdrawals and distributions --
Ordinary loss from business activities (439,114)
Net loss under section 1231 (57,635)
B. As Reported on the Roses’ Income Tax Returns
On their joint income tax returns for 1990 through 1995, the
Roses reported the following amounts of income and loss with
respect to their interest in PKVI LP:
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