Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

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:

		2014		2013
Net Income for Financial Reporting Purposes	$	183,480	$	777,006
Depreciation for Tax Purposes Under Depreciation and Amortization for Financial Reporting Purposes		122,119		123,039
Income Accrued for Tax Purposes Over (Under) Income for Financial Reporting Purposes		18,344		12,868
Acquisition Costs Expensed for Financial Reporting Purposes, Capitalized for Tax Purposes		0		35,444
Property Expenses for Tax Purposes Under Expenses for Financial Reporting Purposes		5,975		9,500
Real Estate Impairment Loss  Not Recognized for Tax Purposes		0		457,526
Gain on Sale of Real Estate for Tax Purposes Under Gain for Financial Reporting Purposes		0		(158,191)
Taxable Income to Partners	$	329,918	$	1,257,192

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

		2014		2013
Partners' Capital for Financial Reporting Purposes	$	9,758,377	$	10,400,308
Adjusted Tax Basis of Investments in Real Estate Over Net Investments in Real Estate for Financial Reporting Purposes		1,206,421		1,084,302
Income Accrued for Tax Purposes Over Income for Financial Reporting Purposes		40,270		21,926
Property Expenses for Tax Purposes Under Expenses for Financial Reporting Purposes		15,475		9,500
Syndication Costs Treated as Reduction of Capital For Financial Reporting Purposes		2,418,726		2,418,726
Partners' Capital for Tax Reporting Purposes	$	13,439,269	$	13,934,762