Income Taxes

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Text Block]

(8) Income Taxes –

The following is a reconciliation of net income for financial reporting purposes to income reported for federal income tax purposes for the years ended December 31:

		2012		2011
Net Income for Financial Reporting Purposes	$	825,072	$	577,661
Depreciation for Tax Purposes Under Depreciation  and Amortization for Financial Reporting Purposes		136,969		111,270
Income Accrued for Tax Purposes Over (Under) Income for Financial Reporting Purposes		(27,731)		1,935
Acquisition Costs Expensed for Financial Reporting Purposes, Capitalized for Tax Purposes		28,135		0
Taxable Income to Members	$	962,445	$	690,866

The following is a reconciliation of Members’ Equity for financial reporting purposes to Members’ Equity reported for federal income tax purposes for the years ended December 31:

		2012		2011
Members’ Equity for Financial Reporting Purposes	$	13,199,505	$	13,650,477
Adjusted Tax Basis of Investments in Real Estate Over Net Investments in Real Estate for Financial Reporting Purposes		703,775		538,671
Income Accrued for Tax Purposes Over (Under) Income for Financial Reporting Purposes		0		27,731
Syndication Costs Treated as Reduction of Capital For Financial Reporting Purposes		2,691,997		2,691,997
Members’ Equity for Tax Reporting Purposes	$	16,595,277	$	16,908,876