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other changes in this report which affect your adjusted
gross income, we have also adjusted these expenses.
* * *
1.c PER EXAM PER RETURN ADJUSTMENT
Interest Income $12,646 $0 $12,646
Earned by Voltaire
LLC
Interest income from Deutsche Bank earned by Voltaire
LLC is taxable to you per IRC 61(a)(4). * * *
1.d PER EXAM PER RETURN ADJUSTMENT
Ordinary Income $4,648,164 $744,975 $3,903,189
(Loss) from Ampersand
Management Company,
Inc, Schedule K-1,
Line 1
We have adjusted your net gain (or loss) from the sale
or exchange of assets shown on Ampersand Management
Company Inc (Form 1120S), as shown in the accompanying
computation:
Amount Realized Basis Gain/Loss Gain/Loss Adjustment
per Exam per Exam per Exam per Return
A Sale of3,219 0 3,219 (3,899,970) 3,903,189
Euros
* * *
You have not established your basis in the Euros sold,
and in any asset you received from SIF LLC
(Partnership). * * *
A. It is determined that the ordinary loss for the
taxable year from the sale of Euros that you received
as a result of the liquidation of the interest owned by
The Taxpayer, the Voltaire Trust, Ampersand and/or
Voltaire LLC in SIF LLC (Partnership) is disallowed
because you overstated your basis in the asset[s] sold
in the amount of $3,903,189. * * *
* * * * * * *
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Last modified: May 25, 2011