Estate of Burton W. Kanter, Deceased, Joshua S. Kanter, Executor, and Naomi R. Kanter, et al. - Page 315

                                                -377-                                                   
            interested in purchasing all of the real estate partnership                                 
            interests listed above.  Kanter, Transcr. at 4242-4244, 4253-                               
            4254, 4265, 4302-4303.  Although Kanter was interested in selling                           
            the partnership interests, he was concerned the transaction would                           
            trigger significant capital gains because his grantor trusts had                            
            negative capital accounts in the real estate partnership                                    
            interests; i.e., their liabilities exceeded their bases.  Kanter,                           
            Transcr. at 4244.  Kanter’s grantor trusts’ negative capital                                
            accounts for the partnership interests in question, as of May 15,                           
            1983, totaled $476,888.60, as follows:                                                      

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