Page 4

Form 1120 -REIT (1989)
Schedule | [EERSTE

Beginning of tax year

End of tax year

Assets

(a)

(b) (c)

(@)

1 Cash
2a Trade notes and accounts receivable.

MM:

b Less allowance for bad debts

Mh

3 U.S. government obligations .

4 Tax-exempt securities (see instructions)

5 Other current assets (attach schedule) .

6 Loans to stockholders .

7 Mortgage and real estate loans

8 Other investments (attach schedule)

9a_ Buildings and other depreciable assets .

Mh 7

Ms

b Less accumulated depreciation
10 Land (net of any amortization)

11a Intangible assets (amortizable only) .
b Less accumulated amortization

Mh

12 Other assets (attach schedule)
13 Total assets .

Liabilities and Stockholders’ "Equity
14 Accounts payable
15 Mortgages, notes, bonds payable in less than year
16 Other current liabilities (attach schedule) .
17 Loans from stockholders
18 Mortgages, notes, bonds payable in 1 year or more
19 Other liabilities (attach schedule)

20 Capital stock: a Preferred stock
b Common stock

Ms

21 Paid-in or capital surplus
22 Retained earnings—Appropriated (attach schedule)
23 Retained earnings—Unappropriated

24 Less cost of treasury stock. .
25 Total liabilities and stockholders’ equity

( )

Schedule M
(You are not required to complete

Reconciliation of Income per Books With Income per Return
this schedule if the total assets on line 13, column (d), of Schedule L a!

re less than $25,000.)

1 Netincome per books .

7 Income recorded on books this year not

2a Federal income tax
(Schedule J, line 9) .
b Less: Section 857(b)(5) tax
¢ Balance.

$
$

oo iP

included on this return (itemize):
a Tax-exempt interest $

8 Deductions on this return not charged

3 Excess of capital losses over capital g gains .

against book income this year (itemize):

4 Income subject to tax not recorded on books

this year (itemize): _

5 Expenses recorded on books this year not
deducted on this return (itemize):

a Depreciation

b Section 4981ltax . .$_.

c Travel and entertainment . $ -

6 _Totaloflines 1through5 .

a Depreciation. . .$_..._. 2222...
b Net operating loss deduction

(line 21a, page 1). $e
c Dividends paid deduction
(line 21b, page 1) $

9 Net income from foreclosure property
10 Net income from prohibited transactions
11 Total of lines 7 through 10

12 REIT taxable income (line 22, page -
line 6 less line 11 . :

Scmeg Analysis of Unappropriated Retained Earnings per Books (line 23, Schedule b

(You are not required to complete

this schedule if the total assets on line 13, column (d), of Schedule Lai

re less than $25,000.)

1 Balance at beginning of year .
2 Netincome per books .
3 Other increases (itemize):

5 Distributions: a Cash .

b Stock. . 1...

c Property .
6 Other decreases (itemize):
7 Total of lines 5 and 6

4 Total of lines 1, 2, and 3

8 Balance at end of year (line 41 4 less line 7)



Z U.S. Income Tax Return for
fom 1120-REIT Real Estate Investment Trusts

OMB No. 1545-1004

| 1989

Department of the Treasury | For calendar year 1989 or tax year beginning 1989, ending eee
Internal Revenue Service > Se ns.
A Year REIT status was Name C Employer identification number
elected
Please
Type ‘Number and street (or P.O. box number if mails not delivered to street address) D Date REIT established
BL] Check ifthisisa or
Genera Holcing Print City or town, state, and ZIP code E Total assets (See Specific Instructions)
F Check applicable boxes: (1)L] Final return (2) L] Change inaddress (3) _] Amended return $ |
Part |—Computation of Real Estate Investment Trust Taxable Income
Income (EXCLUDING income required to be reported in Part II or Part IV)
1 Dividends . 1
2 Interest . on 2
3 Gross rents from real property. 3
4 Other gross rents . 4
5 Capital gain net income (attach Schedule D (Form 1120) 5
6 Net gain (or loss) from Form 4797, Part Il, line 18 (attach Form 4797) 6
7 ~ Other income (see instructions—attach schedule) . 7
8 Total income—Add lines 1 through 7_. 8
Deductions (EXCLUDING deductions directly connected with income required to be reported in Part llor Part IV)
9 Compensation of officers . re
10a Salaries and wages po Less jobs credit |__| Balance > |10¢
11 Repairs . . res =e
12 Baddebts. 12
13 Rents 13
14 Taxes 14
15 Interest . 15
16 Depreciation (attach Form 4562) 16
17 Advertising. 17
18 Other deductions (attach schedule) . 18
19 Total deductions—Add lines 9 through 18 . 19
20 Taxable income before net operating loss deduction, deduction f for dividends paid, and section
857(b)(2)(E) deduction (line8lessline19) . . . 2. 1 1. toe ee es [20
21 Less: a Net operating loss deduction (see instructions) . . . . . . 2la
b Deduction for dividends paid (Schedule A, line6). . . . . [2b
c¢ Section 857(b)(2)(E) deduction (Schedule J, line 3c)... | 21¢ 21d
22 Realestate investment trust taxable income—Line 20 less line 21d 22
Tax and Payments
23 Totaltax(ScheduleJ,line9). . 2. 2... ee eg
24 Payments: a 1988 overpayment credited to 1989 | 24a TVs T// /
b 1989estimatedtaxpayments . . . |24b
¢ Less 1989 refund applied for on Form 4466 | 24c |( did Bal >| 24d
e Tax deposited with Form 7004... . . . . {24e
£ Credit rom regulated investment companies (attach Form 2439) . . . | 24f
g Credit for Federal tax on fuels (attach Form 4136). . . - . (24g 24h
25 Enter any penalty for underpayment of estimated tax—check > C1 ifForm 2220is attached . 25
26 Tax due—If the total of lines 23 and 25 is larger than line 24h, enter amount owed 26
27 Overpayment—If line 24h is larger than the total of lines 23 and 25, enter amount overpaid . . 27
28 Enter amount of line 27 you want: Credited to 1990 estimated tax_> | Refunded > 28
Under penalties of perjury, | declare that | have examined this return, including accompanying schedules and statements, and to the best of my knowledge and
Please belief, itis true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Sign
Here » Signature of officer Date » Title
Date Preparer's social security number
Paid Freparer’s » Check if gO
Preparer’s a self-employed
Use Only | yours ifcelepoyed) » EL.No. Pe
land address ZIP code b>

For Paperwork Reduction Act Notice, see page 1 of the instructions.

Form 1120-REIT (1989)


Form 1120-REIT (1989)

Page 2

Part II— Computation of Tax on Net Income From Foreclosure Property
(As defined in section 856(e)) (Caution: See instructions before completing this part.)

1 Net gain (or loss) from the sale or other disposition of foreclosure Property described in section
1221(1) (attach schedule) : : : eee LF
2. Gross income derived from foreclosure property (attach schedule) 2
3 Total income from foreclosure property—Add lines 1 and 2. woe : 3
4 Deductions directly connected with the production of income shown on line 3 (attach schedule) . 4
5 Net income from foreclosure property—Line 3 less line 4 5
6 Tax on net income from foreclosure property—Enter 34% of line 5 here and on Schedule J, line 3b . 6
Part III— Computation of Tax Imposed Under Section 857(b)(5) for Failure To Meet
Certain Source-of-Income Requirements (Caution: See instructions.)
Ja Enter total income from Part, line8.. . . . .. . pda
b Enter total income from foreclosure property from Partil,line3.. Lab
¢ Total—Add lines 1a and 1b . . le
2 Multiply line 1c by 95% and enter the result here : 2
3 Enter the amount of income shown on line 1c that is derived from s sources referred to in section
856(c)(2) . : ee 3
4 Line 2 less line 3. (If less than Zero, ‘enter zer0.) 4
5 Multiply line 1c by 75% and enter the result here . rr
6 Enter the amount of income shown on line 1c that is derived from sources referred to in section
856(c)(3). : ran &
7 Line 5 less line 6. (If less than zero, ‘enter zero.) 7
8 Enter the greater of line 4 or line 7. (If this line is zero, do not complete the rest of Part . ) 8
9 Enter the amount shown in Part |, line 20. 9
10 Enter the net capital gain from Schedule D (Form 1120), line 10 10
11 Line Qlessline 10 . Se 11
12a Enter total income from Part |, line 8 rn 12a
b Enter the net short-term capital gain from Schedule D Form 1120) line 4.
(Ifline 4 isaloss, enter zero.) . . 12b
¢ Add lines 12a and 12b oe 12¢
13 Enter capital gain net income from Part |, line 5 13
14 Line 12c less line 13 14
15 Divide line 11 by line 14 and enter the ‘result. Carry out your ‘answer to 5 decimal places: . (45
16 Amount of section  857(b)(5) tax— Multiply I line 8 Sbylin line 15 and enter the result here and on Schedule J,
line 3c . _ | 16
Part IV— Computation of Tax on Net Income From Prohibited Transactions
1 Gain from the sale or other disposition of property described in section 1221(1) which is not
foreclosure property (Do NOT include sales that meet the ® requirements of section n BS 7(bNEKC) or
losses from prohibited transactions.) . . » tt
2 Deductions directly connected with the production of income fe shown on line 1. 2
3. Net income from prohibited transactions—Line 1 less line 2 3
4 Taxon net income from prohibited transactions—Enter 100% of line 3 here and on Schedule J, line 3d. | 4
Deduction for Dividends Paid
1 Dividends paid other than dividends paid after the end of the tax year (do not include dividends
considered as paid in the preceding tax year under section 7 857(0)(8) or 858(a), or " deficiency dividends
as defined in section 860) fa 1
2 Dividends paid in 12-month period following the close of your tax year which you elect to be treated as
paid during the tax year under section 858(a) none : oe wee ee L2
3. Dividends declared in October, November, or December deemed pad on December 31 under section
857(b)(8). (See instructions.) . Se 3
4 Consent dividends (attach Forms 972 and 973) a
5 Total dividends paid—Add lines 1through4 . . . . we woe ee ee LB
6 Deduction for dividends paid—lf there is net income from foreclosure property (Part Il, line 5), see
instructions for limitation on deductible amount. Otherwise, enter amount from line 5 here and on line
21b, pagel . 6



Form 1120-REIT (1989)

Page 3

Silices Tax Computation

1 Check if you are a member of a controlled group (see sections 1561 and 1563) . >~O
2 Ifthe box on line 1 is checked:
a Enter your share of the $50,000 and $25,000 taxable income bracket amounts (in that order):
ws ! | i |S ! |
b Enter your share of the additional 5% tax (not to exceed $11,750) > a
3a Tax on real estate investment trust taxable income (see instructions to
figure the tax) . 3a
b Tax from Part Il (line 6, page 2) 3b
¢ Tax from Part Ill (line 16, page 2). 3c
d Tax from Part IV (line 4, page 2) . 3d
e Total—Add lines 3a through 3d . on 3e
4a Foreign tax credit (attach Form 1118) . . . 4a
b General business credit. Enter here and check which forms z are attached:
(1 Form 3800 [_] Form 3468 [] Form 5884
(1 Form 6478 [_]Form6765 [_] Form 8586 4b
¢ Credit for prior year minimum tax (attach Form 8801) . Ac
d Total—Add lines 4a through 4c. Ad
5 Line 3e less line 4d 5.
6 Personal holding company tax (attach Schedule PH (Form. 1120) . 6
7 Recapture taxes. Check if from: OO Form4255 (1) Form8611 . 7
8 Alternative minimum tax (attach Form 4626) . 8
9 Total tax—Add lines 5 through 8. Enter here and on line 23, page 1 9
Additional Information (See instruction F.) Yes|No YesiNo
G (1) Did the REIT at the end of the tax year own, directly or I At any time during the tax year, did the REIT have an interest in or
indirectly, 50% or more of the voting stock of a domestic a signature or other authority over a financial account in a foreign /]}#
corporation? (For rules of attribution, see section 267(c).) . country (such as a bank account, securities account, or other Mh
If "Yes," attach a schedule showing: (a) name, address, and financial account)? po
identifying number; (b) percentage owned; and (c) taxable income (See instruction F and filing requirements for form TD F 90-22.1.)
(or loss) before NOL and special deductions (e.g., if a Form 1120: If “Yes,” enter name of foreign country P .
ia cine withry anne Corporation forthe tax J Was the REIT the grantor of, or transferor to, a foreign trust which 1],
existed during the current tax year, whether or not the REIT has any Ms
(2) Did any individual, partnership, corporation, estate, or trust at beneficial interest init? .
the end of the tax year own, directly or indirectly, 50% or more If “Yes,” the REIT may have to file Foms 3520, 3520, or 6.
of the REIT's voting stock (or beneficial interests)? (For rules K During this tax year, did the REIT pay dividends (other than stock
of attribution, see section 267(c).) If “Yes,” complete (a) dividends and distributions in exchange for stock) in excess of the ]]/#
through (c) . . REIT's current and accumulated earnings and profits? (See sections 301 Mh
(a) Attach a schedule showing n name, o, address, and identifying and 316.) . «2 te
number. If “Yes,” file Form 5452. 7
(b) Enter percentage owned PB = _____ L_ During this tax year did the REIT maintain any part of its Mi
(c). Was the owner of such voting stock (or beneficial accounting/tax records on a computerized system? .
interest) a person other than a U.S. person? (See M Check method of accounting:
instructions.) Note: /f “Yes,” the REIT may have to file (1) O cash
Form 5472 . : (2) O Accrual
IF 'Yes,” enter owner's country > wee eee eee eee (3) LJ Other (specify) » 2.2.22 eee eee
H Was the REIT a U.S. shareholder of any controlled foreign N_ Check this box if the REIT issued publicly offered debt instruments.
corporation? (See sections 951 and 957.) with original issue discount. . .
If “Yes,” attach Form 5471 for each such corporation. If so, the REIT may have to file Form 8281.
O Enter the amount of tax-exempt interest received or accrued during
the tax year >