This paper will be of interest to you if you are involved in Low-Income Housing Tax Credit deals and some or all of the following applies to your deal:
High operating losses in excess of original projections
A large deferred developer fee that remains unpaid after construction completion
The investor limited partner’s tax capital account is decreasing each year faster than originally projected
The partnership agreement calls for equity adjusters or other penalties for failing to provide the projected amount of low-income tax credit or tax losses to the investor limited partner
You would like clarity on the partnership tax rules that impact the allocation of tax losses and credits to partners.
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