Subsidized Housing Workouts: Income Tax Aspects and Certain Investor ProblemsSections 1.00 through 7.00 of this presentation represent the work product of Trubin Sillcocks Edelman & Knapp under HUD contract H-3860. Sections 8.00 through 9.20 represent the work product of Kenneth Leventhal & Company under HUD contract H-3859. |
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10<BMINIMUM TAX 15 PCT INV 2-Year Foreclosure 50<BTAX BRACKET ACCOMPANYING LETTER Accrual Basis Investors ANNUAL CASH DISTRIBUTIONS ASSUMING A 50<BTAX Basis Investors 5-Year BRACKET AND PREFERENCE Cash Basis SUMMARY CASH DISTRIBUTIONS REQUIREMENTS CASH TAXABLE TAX CUMULATIVE INVESTMENT CUMULATIVE INVESTMENT NET DISTRIBUTIONS INCOME PREFERENCE FOREBEARANCE IN PLACE Foreclosure Models GARDEN APTS HIGH RISE APTS INCOME PREFERENCE COSTS INV SUMMARY INVESTMENT AND RELATED INVESTMENT BY LIMITED INVESTMENT NUMBER INVESTMENTS AND PROCEEDS INVESTOR OWNING 10.0<B INVESTOR OWNING AGGREGATE Investors 5-Year Models ITEMS ARE SUBJECT ITEMS TAX PREFERENCE LETTER AND NOTES LIMITED PARTNERS UNIT Models For Accrual mortgage NOTES AND ASSUMPTIONS NUMBER OF UNITS operating PREFERENCE ANNUAL CASH PROCEEDS LOSS PROJECTED INVESTMENT PROJECTION PERTAINS RELATED TAX EFFECTS SALE OF PROPERTY SAVINGS DISTRIBUTIONS INCOME SUMMARY OF PROJECTED supra tax bracket TAX PREFERENCE ANNUAL TAX SAVINGS COSTS TAX SAVINGS DISTRIBUTIONS TAX TAX SAVINGS TAXABLE TAX TAX taxpayer UNIT OF INVESTMENT UNITS TENTATIVE workout