Income Taxes (Notes)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Note C – Income Taxes

The Partnership is classified as a partnership for Federal income tax purposes. Accordingly, no provision for income taxes is made in the financial statements of the Partnership. Taxable income or loss of the Partnership is reported in the income tax returns of its partners.

The following is a reconciliation of reported net loss and Federal taxable (loss) income (in thousands, except per unit data):

	2014			2013
Net loss as reported	$	(877	)	$	(1,423	)
(Deduct) add:
Depreciation differences	400			363
Prepaid rent	(3		)	9
Other	(911		)	92
Federal taxable loss	$	(1,391	)	$	(959	)
Federal taxable (loss) income per limited partnership unit	$	(12.58	)	$	(0.77	)

For 2014 and 2013, allocations under the Internal Revenue Code section 704(b) resulted in the limited partners being allocated a non-pro rata amount of taxable loss or income.

The following is a reconciliation between the Partnership's reported amounts and Federal tax basis of net liabilities (in thousands):

	2014			2013
Net liabilities as reported	$	(25,916	)	$	(25,039	)
Land and buildings	6,126			5,810
Accumulated depreciation	(6,408		)	(5,488		)
Syndication and distribution costs	6,295			6,295
Prepaid rent	20			22
Other	289			197
Net liabilities - tax basis	$	(19,594	)	$	(18,203	)