Appendix ASAMPLE PARTNERSHIP TAX RETURN
Facts and financial data
Kachina Properties is a New Mexico General Partnership with the following three general partners:
| Name | SS Number |
| Louis Griego | 455‐81‐5151 |
| 4825 Hackberry | |
| Las Cruces, NM 88001 | |
| (Tax Matters Partner) | |
| Ellen Harkin | 454‐66‐3333 |
| 1750 Madison | |
| Albuquerque, NM 87131 | |
| Kathleen Martin | 459‐34‐5939 |
| 1519 Harness | |
| Las Cruces, NM 88003 |
The partnership was formed on February 1, 2018. Its federal identification number is 75‐3185725, and its address is 1701 E. Lohman, Las Cruces, NM 88005. The partners contributed cash and property as follows to form the partnership:
| Louis: | Parkway Place Office Center |
| Original Cost—Building | $984,555 |
| Accumulated Depreciation (39/SL—purchased 2/08) | 97,824 |
| Original Cost—Land | 115,445 |
| At Date of Contribution: Building Fair Market Value | 984,555 |
| Land Fair Market Value | 115,445 |
| Outstanding Mortgage Balance | 910,000 |
| Remaining Depreciable Life | 35 years |
| Ellen: | $225,000 cash |
| Kathleen: | $225,000 cash |
The partnership will lease the 2nd and 3rd floors of the Parkway Place Office Center to unrelated tenants. On the 1st floor, it used the cash contributed by Ellen and Kathleen to make the necessary improvements and purchase the necessary equipment to open two separate businesses. On one side of the 1st floor, the partners opened a restaurant. On the other side, they opened a retail store specializing in office supplies, furniture and equipment. ...
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