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| SALE
INFORMATION |
(DO NOT
CHANGE) |
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| SALE DATE:
8/4/98 |
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| Gross Proceeds
From Sale: |
|
118,500.00 |
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| Net Book
Value: |
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|
92,580.00 |
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| Gain: |
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|
25,920.00 |
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| Gross Profit %
= Gain / Gross Proceeds: |
0.218734 |
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| Cash received
at closing; |
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|
95,084.00 |
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x |
0.802397 |
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| Recognized
Gain |
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|
20,798.12 |
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| Deferred Gain
on Bldg: (total - recognized gain) |
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5,121.88 |
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| Deferred Gain
on Covenant: |
|
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|
0.00 |
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|
Total Deferred Gain Before payments
received on note: |
|
5,121.88 |
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| |
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| CURRENT
YEAR CALCULATION: |
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| Gain on
principal payments received for year
ended: |
|
12/31/99 |
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| Enter
Total Principal Payments
received: |
0 |
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Capital Gain
Portion |
28% |
0 |
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|
Ordinary Income
Portion |
72% |
0 |
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| Amount to
reduce Deferred Gain & recognize on
I/S: |
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| Capital
gain portion * Gross Profit % |
|
0 |
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| Total
Ordinary Income Portion |
|
0 |
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Total Deferred Gain
recognized: |
0 |
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Enter Prior Year
Deferred Gain Balance (act
205) |
|
0.00 |
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|
12/99 recognized deferred
gain |
|
|
0.00 |
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Deferred Gain Balance at
12/31/99: |
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0.00 |
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|
