10-Q/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Amendment No. 1 to

FORM 10-Q

[x] Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities and Exchange Act of 1934

For the quarterly period ended September 30, 2014

[ ] Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from ________________ to _______________

Commission File No. 2-90168.

DSI REALTY INCOME FUND VIII

a California Limited Partnership

California	33-0050204
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

6700 E. Pacific Coast Hwy., Long Beach, California 90803

(Address of principal executive offices)

Registrant’s telephone number, including area code (562) 493-8881

Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Date File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ] Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

The issuer is a limited partnership. All 23,753 limited partnership units originally sold for $500.00 per unit. There is no trading market for the limited partnership units.

EXPLANATORY NOTE

The sole purpose of this amendment to our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2014, originally filed with the Securities and Exchange Commission on November 14, 2014 (the “Original Form 10-Q”), is to furnish the exhibits required by Item 601(b)(101) (Interactive Data File) of Regulation S-K.

No other changes have been made to the Original Form 10-Q and the Original Form 10-Q has not been updated to reflect events occurring subsequent to the original filing date.

ITEM 6. Exhibits

(a) Exhibits

31.1 Rule 13a-14(a)/15d-14(a) Certification: Principal Executive Officer
31.2 Rule 13a-14(a)/15d-14(a) Certification: Principal Financial Officer
32.1 Section 1350 Certification: Principal Executive Officer
32.2 Section 1350 Certification: Principal Financial Officer
101.INS XBRL Instance Document*
101.SCH XBRL Taxonomy Extension Schema Document*
101.CAL XBRL Taxonomy Extension Calculation Linkbase Document*
101.DEF XBRL Taxonomy Extension Definition Linkbase Document*
101.LAB XBRL Taxonomy Extension Label Linkbase Document*
101.PRE XBRL Taxonomy Extension Presentation Linkbase Document*

*Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

DSI REALTY INCOME FUND VIII,
a California Limited Partnership
by: DSI Properties, Inc., a California Corporation, as General Partner

By: /s/ ROBERT J. CONWAY
Dated: November 19, 2014
ROBERT J. CONWAY, President
(Chief Executive Officer and Director)

By: /s/ RICHARD P. CONWAY
Dated: November 19, 2014
RICHARD P. CONWAY, Executive Vice President
(Chief Financial Officer and Director)

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Related Party Transactions

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Related Party Transactions

The Partnership has entered into a management agreement with Dahn to operate its mini-storage facilities. The management agreement provides for a management fee equal to 5% of gross revenue from operations, which is defined as the entire amount of all receipts from the renting or leasing of storage compartments and sale of locks. The management agreement is renewable annually. Dahn earned management fees equal to $70,254and $63,559, for the nine month periods ended September 30, 2014 and 2013, respectively. Amounts payable to Dahn at September 30, 2014 and December 31, 2013 were $8,057 and $6,417, respectively.

Beginning in July 2011, the General Partner, DSI Properties, Inc. performs all tax related work with respect to the Partnership. These services are paid monthly in the amount of $3,685. Tax fees paid to DSI Properties, Inc. for the nine month period ended September 30, 2014 were $33,165.

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Property

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Property

Properties owned by the Partnership are all mini-storage facilities. Depreciation is calculated using the straight-line method over the estimated useful life of 20 years. Property under capital leases is amortized over the lives of the respective leases. The total cost of property and accumulated depreciation at September 30, 2014 and December 31, 2013 were as follows:

	September 30, 2014	December 31, 2013
Land	$ 1,806,317	$ 1,806,317
Buildings and improvements	5,475,326	5,453,955
Rental trucks under capital leases	70,047	70,047
Total	7,351,690	7,330,319
Less accumulated depreciation	(5,499,204)	(5,490,661)
Properties - net	$ 1,852,496	$1,839,658

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Condensed Balance Sheets (Unaudited) (USD $)	Sep. 30, 2014	Dec. 31, 2013
ASSETS:
Cash & Equivalents	$ 1,129,681	$ 453,299
Property Net	1,852,486	1,839,658
Investment in Joint Venture	198,942	198,031
Uncollected Rental Revenue	55,253	65,880
Prepaid Advertising	0	712
Other Assets	12,200	12,100
Discontinued Operating Assets	10,482	194,519
TOTAL	3,259,044	2,764,199
LIABILITIES:
Distribution due to Partners	181,818	181,818
Incentive Management Fee Liability	26,510	34,932
Property Management Fee Liability	8,057	6,865
Deferred Income	27,095	30,741
Accrued Expenses	28,462	24,849
Other Liabilities	48,575	9,914
Discontinued Operating Liabilities	16,785	2,754
Total Liabilities	337,302	291,872
PARTNERS' EQUITY:
General Partners	(75,350)	(79,844)
Limited Partners	2,997,092	2,552,171
Total Partners' Equity	2,921,742	2,472,327
TOTAL	$ 3,259,044	$ 2,764,199

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General

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

General

Registrant, DSI Realty Income Fund VIII (the "Partnership") is a publicly-held limited partnership organized under the California Uniform Limited Partnership Act pursuant to a Certificate and Agreement of Limited Partnership (hereinafter referred to as "Agreement") dated November 28, 1983 and restated April 23, 1984. The General Partners are DSI Properties, Inc., a California corporation, and RJC Capital Management, LLC and JWC Capital Management, LLC.

DSI Properties, Inc. is an affiliate of Diversified Securities, Inc., a wholly-owned subsidiary of DSI Financial, Inc. The General Partners provide similar services to other partnerships. Through its public offering of Limited Partnership Units, the Partnership sold twenty-four thousand (24,000) units of limited partnership interests, aggregating Twelve Million ($12,000,000). The General Partners have retained a one percent (1%) interest in all profits, losses and distributions (subject to certain conditions), without making any capital contribution to the Partnership. The General Partners are not required to make any capital contributions to the Partnership in the future.

The Partnership has acquired mini-storage facilities located in Stockton, El Centro, Huntington Beach, and Lompoc, California. The Partnership has entered into a Joint venture with DSI Realty Income Fund IX, through which the Partnership has a 30% interest in a mini-storage facility in Aurora, Colorado (Under the terms of the joint venture agreement, the Partnership is entitled 30% of the profits and losses of the venture and owns 30% of the mini-storage as a tenant in common with DSI Realty Income Fund IX, which has the remaining 70% interest in the joint venture. The Partnership accounts for its investment in the real estate joint venture under the equity method of accounting.) All facilities were acquired from Dahn Corporation ("Dahn"). Dahn is not affiliated with the Partnership. Dahn is affiliated with other partnerships in which DSI Properties, Inc. is a general partner.

The accompanying unaudited interim financial statements have been prepared by the Partnership's management in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in conjunction with the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the unaudited interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying unaudited interim financial statements reflect all adjustments of a normal and recurring nature which are considered necessary for a fair presentation of the results for the interim periods presented. However, the results of operations for the interim periods are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. These unaudited interim financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Partnership's annual report on Form 10-K for the year ended December 31, 2013.

Significant Accounting Policies

The Partnership has adopted Accounting Standards Update 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income. For the nine months ended September 30, 2014 and 2013 comprehensive income equaled net income, as the Partnership had no other comprehensive income. As of September 30, 2014 and December 31, 2013, accumulated other comprehensive income was $0.

ASC 825-10 (formerly SFAS 107, “Disclosures about Fair Value of Financial Instruments”) defines financial instruments and requires disclosure of the fair value of financial instruments held by the Partnership. The Partnership considers the carrying amount of cash, accounts receivable, other receivables, accounts payable and accrued liabilities, to approximate their fair values because of the short period of time between the origination of such instruments and their expected realization.

Revenue recognition - Revenue is recognized using the accrual method based on contractual amounts provided for in the lease agreements, which approximates recognition on a straight-line basis. The term of the lease agreements is usually less than one year.

Recent Accounting Pronouncements

In February 2014 the FASB issued ASU 2014-04 Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date, in order to provide guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. generally accepted accounting principles (GAAP). The amendments in the Update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. The Partnership does not expect the adoption of the standard update to have a material impact on its financial position or results of operations.

In February 2014, the FASB issued ASU 2014-02 Comprehensive Income (Topic 220): Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income, in order to improve the reporting of reclassifications out of accumulated other comprehensive income. The amendments in this Update seek to attain the objective by requiring an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in the net income if the amount being reclassified is required under U.S. generally accepted accounting principles (GAAP) to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. GAAP that provide additional detail about those amounts. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is reclassified to a balance sheet account (for example, inventory) instead of directly to income or expense in the same reporting period. The amendments are effective prospectively for reporting periods beginning after December 15, 2013. The Partnership considers the adoption of the standard update does not impact its financial position or results of operations.

In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-07 Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting, in order to clarify when an entity should apply the liquidation basis of accounting. In addition, the guidance provides principles for the recognition and measurement of assets and liabilities and requirements for financial statements prepared using the liquidation basis of accounting. The amendments are effective for entities that determine liquidation imminent during annual reporting periods beginning after December 15, 2014, and interim reporting periods therein. The Partnership does not expect the adoption of the the standard update to have a material impact on its financial position or results of operations.

In April 2014, the FASB issued ASU 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360)." ASU 2014-08 amends the requirements for reporting discontinued operations and requires additional disclosures about discontinued operations. Under the new guidance, only disposals representing a strategic shift in operations or that have a major effect on the Company's operations and financial results should be presented as discontinued operations. This new accounting guidance is effective for annual periods beginning after December 15, 2014. The adoption of this guidance is not expected to have a material impact on its financial statements.

In July 2014, the FASB has issued ASU No. 2014-11, Income Taxes (Topic 740)-Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward or Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force), which finalized Proposed ASU No. EITF-13C, and provides explicit guidance regarding the presentation in the statement of financial position of an unrecognized tax benefit when a net operating loss or tax credit carryforward exists. ASU No. 2014-11 applies prospectively to all entities that have unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. Retrospective application is also permitted. Further, ASU No. 2014-11 is effective for fiscal years, and interim periods within those years, beginning December 15, 2014. Early adoption is permitted. the Partnership considers the adoption of the standard update will not impact its financial position or results of operations.

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Subsequent Events

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Subsequent Events

Events subsequent to September 30, 2014, have been evaluated through the date these unaudited interim financial statements were issued to determine whether they should be disclosed to keep the unaudited interim financial statements from being misleading. Consequently, management is providing the following information:

In November of 2013 we notified you of our intent to seek a current market valuation of the Properties within your Fund. The financial advisor we retained, Bancap, helped us complete this procedure and we have entered into a preliminary purchase and sale agreement with a third party. That third party concluded its due diligence on the properties. We have filed preliminary proxy material with SEC and are currently awaiting final comments. Once final comments are received, a definitive proxy including the terms and conditions of the transactions will be filed and mailed to the Limited Partners. Any sale would require approval by the holders of a majority or the Limited Partnership Units.

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Condensed Statements of Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUES:
Self-storage rental income	$ 467,136	$ 372,218	$ 1,335,343	$ 1,128,471
Ancillary operating revenue	39,191	43,868	109,207	123,689
TOTAL	506,327	416,086	1,444,550	1,252,160
EXPENSES:
Depreciation	2,077	3,935	8,543	11,592
Operating	166,312	170,018	501,815	470,802
General and administrative	87,026	70,260	232,225	223,911
General partners' incentive management fee	26,510	22,258	71,175	59,394
Property management fee	24,415	22,027	70,254	63,559
Total	306,340	288,498	884,012	829,258
INCOME BEFORE EQUITY IN INCOME OF REAL ESTATE JOINT VENTURE:	199,987	127,588	560,538	422,902
EQUITY IN INCOME OF REAL ESTATE JOINT VENTURE:	52,631	33,321	125,111	80,906
INCOME FROM CONTINUING OPERATIONS	252,618	160,909	685,649	503,808
(LOSS)/INCOME FROM DISCONTINUED OPERATIONS	(7,824)	4,715	(21,741)	21,409
NET GAIN ON SALE OF DISCONTINUED OPERATIONS	334,612	0	334,612	0
NET INCOME	579,406	165,624	998,520	525,217
AGGREGATE INCOME ALLOCATED TO:
General partners	5,794	1,656	9,985	5,252
Limited partners	573,612	163,968	988,535	519,965
TOTAL	$ 579,406	$ 165,624	$ 998,520	$ 525,217
Weighted average limited partnership units outstanding	24,000	24,000	24,000	24,000
NET INCOME ATTRIBUTABLE TO THE PARTNERSHIP PER LIMITED PARTNERSHIP UNIT	23.90	6.83	41.19	21.67

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Property - Summary of Property and Equipment (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Properties, net
Land	$ 1,806,317	$ 1,806,317
Buildings and improvements	5,475,326	5,453,955
Rental trucks under capital leases	70,047	70,047
Total	7,351,690	7,330,319
Less accumulated depreciation	5,499,204	5,490,661
Properties - net	$ 1,852,486	$ 1,839,658

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Document and Entity Information (USD $)	9 Months Ended
	Sep. 30, 2014
Document And Entity Information
Entity Registrant Name	DSI Realty Income Fund VIII
Entity Central Index Key	0000743366
Document Type	10-Q
Document Period End Date	Sep. 30, 2014
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Smaller Reporting Company
Entity Public Float	$ 12,000,000
Entity Common Stock, Shares Outstanding	24,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2014

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Condensed Statements of Changes in Partners Equity(Deficit) (Unaudited) (USD $)	General Partner	Limited Partners	Total
BALANCE, Beginning at Dec. 31, 2013	$ (79,844)	$ 2,552,171	$ 2,472,327
IncomeLossAttributableToParent	9,985	988,535	998,520
Distributions	5,491	543,614
BALANCE, Ending at Sep. 30, 2014	$ (75,350)	$ 2,997,092	$ 2,921,742

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General (Policies)

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Nature of Operations

Registrant, DSI Realty Income Fund VIII (the "Partnership") is a publicly-held limited partnership organized under the California Uniform Limited Partnership Act pursuant to a Certificate and Agreement of Limited Partnership (hereinafter referred to as "Agreement") dated November 28, 1983 and restated April 23, 1984. The General Partners are DSI Properties, Inc., a California corporation, and RJC Capital Management, LLC and JWC Capital Management, LLC.

DSI Properties, Inc. is an affiliate of Diversified Securities, Inc., a wholly-owned subsidiary of DSI Financial, Inc. The General Partners provide similar services to other partnerships. Through its public offering of Limited Partnership Units, the Partnership sold twenty-four thousand (24.000) units of limited partnership interests, aggregating Twelve Million ($12,000,000). The General Partners have retained a one percent (1%) interest in all profits, losses and distributions (subject to certain conditions), without making any capital contribution to the Partnership. The General Partners are not required to make any capital contributions to the Partnership in the future.

The Partnership has acquired mini-storage facilites located in Stockton, El Centro, Huntington Beach, and Lompoc, California. The Partnership has entered into a Joint venuture with DSI Realty Income Fund IX, through which the Partnership has a 30% interest in a mini-storage facility in Aurora, Colorado (Under the terms of the joint venture agreement, the Partnership is entitled 30% of the profits and losses of the venture and owns 30% of the mini-storage as a tenant in common with DSI Realty Income Func IX, which has the remaining 70% interest in the joint venture. The Partnership accounts for its investment in the real estate joint venture under the equity method of accounting.) All facilities were acquired from Dahn Corporation ("Dahn"). Dahn is not affiliated with the Partnership. Dahn is affiliated with other partnerships in which DSI Properties, Inc. is a general partner.

Comparability to Prior Year Data

The accompanying unaudited interim financial statements have been prepared by the Partnership's management in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in conjunction with the rules and regulations of the Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the unaudited interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying unaudited interim financial statements reflect all adjustments of a normal and recurring nature which are considered necessary for a fair presentation of the results for the interim periods presented. However, the results of operations for the interim periods are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. These unaudited interim financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Partnership's annual report on Form 10-K for the year ended December 31, 2013.

Comprehensive Income

The Partnership has adopted Accounting Standards Update 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income. For the nine months ended September 30, 2014 and 2013 comprehensive income equaled net income, as the Partnership had no other comprehensive income. As of September 30, 2014 and December 31, 2013, accumulated other comprehensive income was $0.

Fair Value Disclosures

ASC 825-10 (formerly SFAS 107, “Disclosures about Fair Value of Financial Instruments”) defines financial instruments and requires disclosure of the fair value of financial instruments held by the Partnership. The Partnership considers the carrying amount of cash, accounts receivable, other receivables, accounts payable and accrued liabilities, to approximate their fair values because of the short period of time between the origination of such instruments and their expected realization.

Revenue Recognition

Revenue recognition - Revenue is recognized using the accrual method based on contractual amounts provided for in the lease agreements, which approximates recognition on a straight-line basis. The term of the lease agreements is usually less than one year.

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Net Income Per Limited Partnsership Unit

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Net Income Per Limited Partnsership Unit

Net income per limited partnership unit is calculated by dividing the net income allocated to the limited partners by the number of limited partnership units outstanding during the period.

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General (Details Narrative) (USD $)	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements
Public Float	$ 12,000,000
General Partner Percent Ownership Percentage	1.00%

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Property (Tables)

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Summary of Property and Equipment

	September 30, 2014	December 31, 2013
Land	$ 1,806,317	$ 1,806,317
Buildings and improvements	5,475,326	5,453,955
Rental trucks under capital leases	70,047	70,047
Total	7,351,690	7,330,319
Less accumulated depreciation	(5,499,204)	(5,490,661)
Property - net	$ 1,852,496	$1,839,658

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Allocations of Profits and Losses (Details Narrative)	9 Months Ended
	Sep. 30, 2014
Notes to Financial Statements
General Partner Percentage	1.00%
General Partner Incentive Fee	.09

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Related Party Transactions (Details Narrative) (USD $)	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Notes to Financial Statements
Management Fee		$ 24,415	$ 22,027	$ 70,254	$ 63,559
Payable To Dahn	8,057	8,057		8,057		6,865
Monthly Tax Fee to General Partner	$ 3,685			$ 33,165

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Condensed Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Statement of Cash Flows [Abstract]
Net income attributable to the Partnership	$ 998,520	$ 525,217
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	8,543	11,592
Equity in earnings of real estate joint ventures	(125,111)	(80,906)
Distributions from real estate joint ventures	124,200	66,300
Gain on sale of discontinued operations	(334,612)	0
Discontinued operations (income) loss	(21,741)	21,409
Changes in assets and liabilities:
Uncollected revenue, prepaid advertising and other assets	11,239	43,138
Incentive management fee payable to General Partners	(8,422)	2,388
Property management fees payable	1,640	778
Customer deposits and other liabilities	38,628	55,567
Net cash provided by operating activities	736,366	602,666
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property	(21,371)	0
Proceeds from the sale of discontinued operations	507,492
Net cash used in investing activities	486,121	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Distributions to partners	(181,818)	(181,818)
Net cash used in financing activities	(181,818)	(181,818)
DISCONTINUED OPERATIONS
Net cash used in operating activities	0	(12,896)
Net cash provided by discontinued operations	3,000	0
Net cash used in financiing activities	(367,286)	(367,286)
NET iNCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS	676,382	40,665
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	453,299	450,731
CASH AND CASH EQUIVALENTS AT END OF PERIOD	1,129,681	491,396
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest	0	0
NON CASH INVESTING AND FINANCING ACTIVITIES:
Distributions due partners included in partners' equity	$ 181,818	$ 181,818

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Allocations of Profits and Losses

9 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Allocations of Profits and Losses

Under the Agreement of Limited Partnership, the general partners are to be allocated 1% of the net profits or losses from operations, and the limited partners are to be allocated the balance of the net profits or losses from operations in proportion to their limited partnership interests. The general partners are also entitled to receive a percentage, based on a predetermined formula, of any cash distribution from the sale, other disposition, or refinancing of the project.

In addition, the general partners are entitled to receive an incentive management fee for supervising the operations of the Partnership. The fee is to be paid in an amount equal to 9% per annum of the cash available for distribution on a cumulative basis, calculated as cash generated from operations less capital expenditures.