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	$	662,666	$	1,113,264
Depreciation for Tax Purposes Under Depreciation for Financial Reporting Purposes		146,997		126,168
Income Accrued for Tax Purposes Under Income for Financial Reporting Purposes		(9,768)		(5,122)
Gain on Sale of Real Estate for Tax Purposes Over Gain for Financial Reporting Purposes		1,621		33,870
Taxable Income to Partners	$	801,516	$	1,268,180

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:

		2012		2011
Partners' Capital for Financial Reporting Purposes	$	15,659,056	$	16,174,770
Adjusted Tax Basis of Investments in Real Estate Over Net Investments in Real Estate for Financial Reporting Purposes		938,887		790,269
Income Accrued for Tax Purposes Over Income for Financial Reporting Purposes		12,120		21,888
Syndication Costs Treated as Reduction of Capital For Financial Reporting Purposes		3,208,043		3,208,043
Partners' Capital for Tax Reporting Purposes	$	19,818,106	$	20,194,970