Learn the Basics Housing Tax Credits 101 John Mackey, CPA Reznick Group

General Information

General Information (continued)

Development Costs

Development Costs (continued)

Financing Assumptions

Syndication Information

Capital Contributions

Rental Income & Expenses

Rental Income & Expenses (continued)

Rental Income

Operating Expenses

Projected Value of Tax Credits, Cash Flow, and Tax Loss Amounts per Investor LP, assuming a 35% tax rate

Sources and Applications of Funds

Funded Expenses

Low Income Tax Credit Calculation

Sales Appreciation

Projection of Investment Results upon Sale or Disposition of Project on 12/31/22

Net after Tax Benefit Including Sale or Disposition of Project on 12/31/22

Amortization Schedule – Permanent Loan

Amortization Schedule – Permanent Loan (continued)

Amortization Schedule – Second Loan

Amortization Schedule – Second Loan (continued)

Amortization Schedule – Other Loan

Amortization Schedule – Other Loan (continued)

Amortization Schedule – Developer Note

Amortization Schedule – Developer Note (continued)

Projected Replacement Reserve

Projected Operating Reserve

Minimum Gain Calculation

Minimum Gain Calculation - Summary

Potential Loss Reallocation due to 704(b)

Potential Loss Reallocation due to 704(b) - continued