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Income Taxes
6 Months Ended
Jun. 30, 2011
Income Taxes  
Other Information Pertaining to Income Taxes

Note G – Taxes Payable

 

The Partnership is subject to Michigan income taxes as a result of the Partnership’s former property, Carriage Hill Apartments, being located in the state of Michigan. At December 31, 2010, the Partnership had taxes payable of approximately $209,000 of which approximately $23,000 and $186,000 was included in operating expense and as a reduction of gain from sale of discontinued operations in 2010, respectively. Taxes payable at December 31, 2010 also included approximately $26,000 which was owed for 2009 Michigan income taxes. During the six months ended June 30, 2011 the Partnership paid the 2009 tax liability of approximately $26,000. The Partnership does not expect to owe any Michigan income taxes for 2011.