Amend11504 08p FC

2008
IT-204
New York State Department of Taxation and Finance
Partnership Return
For calendar year 2008 or tax year beginning
and ending
Read the instructions, Form IT-204-I, before completing this return.
I Employer identification number (EIN)
13-3691495
Legal name
1504 ASSOCIATES L.P.
Principal business activity
Trade name of business if different from legal name above
REAL ESTATE
Address (number and street or rural route)
RENTAL
Principal product or service
NAICS business code

number (see instrs)
I
C/O KENBAR 1500 LEXINGTON AVEN

City, village, or post office
State
ZIP code
NEW YORK
NY
10029
Date business started
12-30-1992
531120
Special conditions for
filing your 2008 tax
return (see instructions)
Section 1 ' Partnership information
?
?
A Mark an X in the box that applies to your entity
Regular partnership
Limited liability partnership (LLP)
Portfolio Investment partnership
Other
Limited liability company (LLC ' including limited liability investment company and a limited liability trust company)
B 1
2
Did the partnership have any income, gain, loss, or deduction derived from NY sources during the tax year?
If No, enter the number of resident partners
C Mark applicable box(es):

D 1
........................
B1
............................................................
B2
Change of address
Is this return the result of federal audit changes?

If Yes: 2
3
Initial return G
Amended return
Yes
No
Final return (attach explanation)

D1
.......................................................
Yes
No
Enter date of final federal determination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D2 G

Do you concede the federal audit changes?
E Did you file a NYS partnership return for
.................................................
D3
Yes
No
1 2006
........................................................
E1
Yes
No
2 2007
........................................................
E2
X
Yes X
No
If No, state reason:

F Number of partners
Article 22
Article 9-A
....................................................................
F1
...................................................................
F2
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3
Total
H Did the partnership have an interest in real property located in NYS during the last three years?
I
G1
....
G2
Yes
..........
Yes
No
................................................
Yes
No
..................
Has there been a transfer or acquisition of a controlling interest in this entity during the last three years?
J Are any partners in this partnership also partnerships or LLCs?
....
F4
........................................................................
G Does the partnership currently have tax accounts with NYS for the following taxes?
? No X . . . . . . . . . . . . . . . (If Yes, enter ID number)
1 Sales and use tax
? Yes
?
? No
2 Withholding tax
. . . . . . . . . . . . . . . (If Yes, enter ID number)
? Yes X
?
6
1
K Did the partnership engage in a like-kind transaction under IRC 1031 during the tax year?
No
X
X
No X
Yes
....................
Yes
M Did the partnership make an election under IRC section 754? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
N Is this partnership under audit by the IRS or has it been audited in a prior year?
Yes
No
X
X
Yes
No
........................
L Was there a distribution of property or a transfer of a partnership interest during the tax year?
................................
No
O Is the partnership required to file Form DTF-686 or DTF-686-ATT for this filing period, to report a reportable
transaction, New York reportable transaction, listed transaction or registered tax shelter?
.....................
If Yes, complete and attach Form(s) DTF-686, DTF-686-ATT, and any applicable federal forms.
Third-party
designee (see instrs)
Yes
No
Preparer's signature
Print Designee's name
Designee's phone number
Personal identification
number (PIN)
E-mail:
Paid preparer's use only
Sign Here
ISSN or PTIN:
Signature of general partner
? Employer ID number
G
Firm's name (or yours, if self-employed)
ABRAMS GARFINKEL MARGOLIS B

Address 5900 WILSHIRE BLVD STE 2250
LOS ANGELES
CA 90036-5025
Date
Mark an X if
self-employed
I Daytime phone number
E-mail:
Date
2041081030
E-mail:
Mail your return to:

STATE PROCESSING CENTER, PO BOX 61000, ALBANY, NY 12261-0001.
Please file this original scannable return with the Tax Department.
NYPA1814
11/18/08
Page 2 of 8 IT-204 (2008)
13-3691495
Section 2 ' Federal ordinary business income (loss)

Part 1 ' Income from federal Form 1065
1 Gross receipts or sales
.........................................
1.
2 Returns and allowances
.........................................
2.
3 Subtract line 2 from line 1
.......................................................................
3.
.............................................................................
4.
5 Gross profit (subtract line 4 from line 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
6 Ordinary income (loss) from other partnerships, estates, and trusts (attach statement)
................
6.
.......................................
7.
4 Cost of goods sold
7 Net farm profit (loss) (attach federal Form 1040, Schedule F)
8 Net gain (loss) from federal Form 4797, Part II, line 17 (attach federal Form 4797)
9 Other income (loss) (attach statement)
....................
...........................................................
10 Total income (loss) (combine lines 5 through 9)
...................................................
8.
9.
10.
Part 2 ' Deductions from federal Form 1065

11 Salaries and wages (other than to partners)(less employment credits)
...............................
11.
................................................................
12.
.......................................................................
13.
.....................................................................................
14.
..........................................................................................
15.
12 Guaranteed payments to partners

13 Repairs and maintenance
14 Bad debts
15 Rent
16 Taxes and licenses

17 Interest
.............................................................................
16.
.......................................................................................
17.
18 Depreciation (if required, attach federal Form 4562)
..............
18.
19 Depreciation reported on federal Form 1065, Schedule A and

elsewhere on return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.
20 Subtract line 19 from line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.
21 Depletion (do not deduct oil and gas depletion)
22 Retirement plans, etc
....................................................
21.
...........................................................................
22.
23 Employee benefit programs
.....................................................................
23.
24 Other deductions (attach statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.

25 Total deductions (add lines 11 through 17 and lines 20 through 24)
26 Ordinary business income (loss) (subtract line 25 from line 10)
..................................
25.
......................................
26.
Section 3 ' Cost of goods sold (from federal Form 1065, Schedule A; see instructions)
27 Inventory at beginning of year
...................................................................
28 Purchases less cost of items withdrawn for personal use
...........................................
27.
28.
29 Cost of labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.

30 Additional IRC section 263A costs (attach statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.
31 Other costs (attach statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31.
32 Total (add lines 27 through 31)
..................................................................
32.
33 Inventory at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.

34 Cost of goods sold (subtract line 33 from line 32)
..................................................
34.
35 Method used for valuing closing inventory (mark an X in applicable boxes)

Cost as described in federal regulations section 1.471-3
Lower of cost or market as described in federal regulations section 1.471-4
Other (specify method used and explain)
36 Was there a writedown of subnormal goods as described in federal regulations section 1.417-2(c)?
37 Was LIFO inventory method adopted this tax year for any goods? (If Yes, attach federal Form 970.)
.................
Yes
No
................
Yes
No
Yes
No
Yes
No
38 Do the rules of IRC section 263A (for property produced or acquired for resale) apply to the partnership?
............
39 Was there any change in determining quantities, cost, or valuations between opening and closing inventory?
........
If Yes, explain
2042081030
NYPA1814
11/18/08
X
X
13-3691495
IT-204 (2008) Page 3 of 8
Section 4 ' Balance sheets per books (from federal Form 1065, Schedule L)
Assets
Beginning of tax year

(a)
40 Cash
......
41 Trade notes
acct recvble
End of tax year

(b)
40.
(c)
(d)
51,071.
80,713.
945.
2,600.
41.
42 Less allowces
bad debts . . 42.
43 Inventories
..
43.
US govt
44 obligations . . 44.
Tax exempt
45 securities . . . 45.
46 Othr crnt asst
(att stmt) . . . 46.
47 Mortg/real
estate loans
47.
48 Othr invstmt
(att stmt) . . . 48.
49 Bldgs othr
deprc assets . 49.
332,004.
50 Less accum
deprec . . . . . 50.
139,043.
51 Deplt assets
332,004.
192,961.
147,237.
184,767.
51.
Less accum
52 depletion . . . 52.
Land (net
53 amrtztn) . . . 53.
173,930.
30,178.
148,449.
567,356.
23,728.
321,986.
54 Intngbl assts
(amrtzble) . . 54.
55 Less accmltd
amortztn . . . 55.
56 Othr assets
(att stmt) . . . 56.
57 Total assets
57.
Liabilities and capital

58 Accounts payable
................................................
59 Mortgages, notes, bonds payable in less than one year
..............
59.
60.
.............................................
61.
62 Mortgages, notes, bonds payable in one year or more . . . . . . . . . . . . . . . .
62.
63 Other liabilities (attach statement)
..................................
63.
64 Partners' capital accounts
.........................................
64.
65 Total liabilities and capital
.........................................
65.
61 All nonrecourse loans
End of tax year
(b)
(d)
58.
...........................
60 Other current liabilities(attach statement)
Beginning of tax year
776,866.
12,000.
2,499,955.
2,499,955.
-2,709,465.
567,356.
-2,189,969.
321,986.
2043081030
NYPA1814
11/18/08
Page 4 of 8 IT-204 (2008)
13-3691495
Section 5 ' Reconciliation of income (loss) per books with income (loss) per return (From federal
Form 1065, Schedule M-1; see instructions. If Schedule M-3 was filed, mark an X in the box;
file Schedule M-3 and any related attachments with Form IT-204; skip Section 5
and continue with Section 6.)
66 Net income (loss) per books
.....................................................................
67 Income included on return not recorded on books this year, from Schedule M-1, line 2
-331,342.
66.
................
67.
...............................................
68.
Identify:
68 Guaranteed payments (other than health insurance)
69 Expenses recorded on books this year not included on return, from Schedule M-1, line 4
..............
69.
.........................................................................
70.
Identify:
70 Add lines 66 through 69
-331,342.
71 Income recorded on books this year not included on return,

from Schedule M-1, line 6
.....................................
71.
Identify:
72 Deductions included on return not charged against book

income this year, from Schedule M-1, line 7
.....................
72.
Identify:
73 Add lines 71 and 72
............................................................................
73.
-331,342.
74 Income (loss) (subtract line 73 from line 70) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74.
Section 6 ' Analysis of partners' capital accounts (from federal Form 1065, Schedule M-2)
75 Balance at beginning of year
76 Capital contributed ' cash
....................................................................
75.
......................................................................
76.
77 Capital contributed ' property
...................................................................
77.
.....................................................................
78.
................................................................................
79.
78 Net income (loss) per books

79 Other increases
-2,709,465.
994,590.
-331,342.
Identify:
80 Add lines 75 through 79

81 Distributions ' cash
82 Distributions ' property

83 Other decreases
.......................................................................
.........................................
80.
-2,046,217.
84.
143,752.
85.
-2,189,969.
81.
.....................................
82.
............................................
83.
143,752.
Identify:
84 Add lines 81, 82, and 83
........................................................................
85 Balance at end of year (subtract line 84 from line 80)
..............................................
2044081030
NYPA1814
11/18/08
13-3691495
IT-204 (2008) Page 5 of 8
Section 7 ' Partners' share of income, deductions, etc. (from federal Form 1065, Schedule K)
Partners' distributive share items
86 Ordinary business income (loss)
.................................................................
87 Net rental real estate income (loss) (attach federal form 8825)
88 a Other gross rental income (loss)
......................................
..............................
88 b Expenses from other rental activities
..........................
86.
87.
-331,467.
88a.
88b.
89 Other net rental income (loss) (subtract line 88b from line 88a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89.
90 Guaranteed payments
91 Interest income
..........................................................................
90.
................................................................................
91.
92 Ordinary dividends
93 Royalties
.............................................................................
92.
......................................................................................
93.
94 Net short-term capital gain (loss) (attach federal Schedule D)
.......................................
125.
94.
95 Net long-term capital gain (loss) (attach federal Schedule D) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95.

96 Net section 1231 gain (loss) (attach federal Form 4797)
97 Other income (loss) (see instructions)
............................................
96.
............................................................
97.
Identify:
98 Section 179 deduction (attach federal Form 4562)
.................................................
98.
99 Other deductions (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99.

Identify:
100 Tax preference items for minimum tax (see instructions)
..........................................
100.
.......................................................
101.
Identify:
101 Net earnings (loss) from self-employment
102 Tax-exempt income and nondeductible expenses (see instructions)
................................
102.
..................................................
103.
..................................................................
104.
105 Other items not included above that are required to be reported separately to partners (see instrs) . . . .
105.
143,752.
125.
106.
-331,342.
103 Distributions ' cash and marketable securities

104 Distributions ' other property
Identify: See Other Items Statement
Analysis of net income (loss)

106 Enter amount from federal Form 1065, analysis of Net Income (Loss), line 1
........................
Analysis by type of partner

General partners
A
Corporate
Individual (active)
Individual (passive)
Partnership
...........................................................
Limited partners
-3,314.
-98,739.
....................................................
..................................................
.........................................................
E Exempt organization
F Nominee/other
.................................................
......................................................
-229,289.
2045081030
NYPA1858
10/23/08
Page 6 of 8 IT-204 (2008)
13-3691495
Section 8 ' New York modifications (see instructions)

107
New York State additions

Number
A ' Total amount
B ' New York State allocated amount
107 a. E A107 b. E A107 c. E A107 d. E A107 e. E A107 f.
E A-
108
Total addition modifications (total of column A, lines 107a through 107f)
109
New York State subtractions

Number
A ' Total amount
..........................
108.
B ' New York State allocated amount
109 a. E S109 b. E S109 c. E S109 d. E S109 e. E S109 f.
E S-
110
Total subtraction modifications (total of column A, lines 109a through 109f)
111
Additions to federal itemized deductions
.......................
110.
112
Total additions to federal itemized deductions (add lines 111a through 111f) . . . . . . . . . . . . . . . . . . . . . . .
112.
113
Subtractions from federal itemized deductions
Letter
Amount
111 a.
111 b.
111 c.
111 d.
111 e.
111 f.
Letter
Amount
113 a.
113 b.
113 c.
113 d.
113 e.
113 f.
114
Total subtractions from federal itemized deductions (add lines 113a through 113f)
.................
114.
115
New York adjustments to tax preference items
.................................................
115.
2046081030
NYPA1858
10/23/08
13-3691495
IT-204 (2008) Page 7 of 8
Section 9 ' Other information

116 New York source gross income (see instructions)
................................................
116.
117 Is this partnership a partner in another partnership or LLC? (If Yes, list the names and EINs below;
attach additional sheets if necessary.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes
Name of entity
No
EIN
Section 10 ' New York allocation schedule

Part 1 ' List all places, both in and out of NYS, where the partnership carries on business (attach additional sheets if necessary)
Street address
City and state
Description (see instructions)
118 Do books and records reflect income earned in New York? (if Yes, do not complete part 2.)
..........................
Yes
No
Part 2 ' Formula basis allocation of income if books and records do not reflect income earned in New York
A ' Totals ' in and out
of New York State
Items used as factors

Property percentage (see instructions)
119 Real property owned
B ' New York State

amounts
Dollars
Dollars
C ' Percent
column B is of
column A
119.
119.
......
120.
120.
.....
121.
121.
122 Property percentage (add lines 119,

120, and 121; see instructions) . . . . . . .
122.
122.
122.
123 Payroll percentage (see instructions)
..
123.
123.
123.
124 Gross income percentage (see instrs) . .
124.
124.
124.
...............
120 Real property rented from others

121 Tangible personal property owned
125 Total of percentages (total column C, lines 122, 123, and 124) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
125.
126 Business allocation percentage (divide line 125 by three or by actual number of percentages if less than three)
126.
.....................
Section 11 ' Partners' credit information (see instructions)

Part 1 ' Pass-through credit bases and factors
Brownfield redevelopment tax credit (Form IT-611)
127 Site preparation credit component
..............................................................
128 Tangible property credit component
127.
............................................................
128.
129 On-site groundwater remediation credit component . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
129.
2047081030
NYPA1858
10/23/08
%
%
%
%
%
Page 8 of 8 IT-204 (2008)
13-3691495
Section 11 (continued)
EZ capital tax credit (Form IT-602)
130 Investments in certified EZ businesses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
130.
131 Contributions of money to EZ community development projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
131.
132 Recapture of credit for investments in certified EZ businesses
132.
.....................................
133 Recapture of credit for contributions of money to EZ community development projects
...............
133.
QEZE tax reduction credit (Form IT-604)

134 QEZE employment increase factor
.............................................................
134.
...................................................................
135.
....................................................................
136.
135 QEZE zone allocation factor

136 QEZE benefit period factor
QETC facilities, operations and training credit (Form DTF-619)

137 Research and development property credit component
138 Qualified research expenses credit component
...........................................
137.
..................................................
138.
139 Qualified high-technology training expenditures credit component
..................................
139.
..........................................................
140.
Farmers' school tax credit (Form IT-217)

140 Acres of qualified agricultural property
141 Acres of qualified conservation property
........................................................
142 Eligible school district property taxes paid
141.
.......................................................
142.
143 Acres of qualified agricultural property converted to nonqualified use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
143.
Other pass-through credit bases and factors

Credit bases
Code
Amount
Code
144a.
144d.
144b.
144e.
Amount
144f.
144c.
Credit factors
Code
Factor
Code
Factor
Code
144g.
144i.
144k.
144h.
144j.
144l.
Factor
Part 2 ' Pass-through credits, addbacks and recaptures

145
Long-term care insurance credit (Form IT-249)
146 a
Investment credit (including employment incentive credit and historic barn rehabilitation credit: Form IT-212)
..............
146a.
146 b
Research and development ' investment credit (Form IT-212) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
146b.
147
Other pass-through credits

Code
147 a.
.................................................
Amount
256
1,250.
Amount
Code
Amount
147 e.
147 b.
147 f.
147 c.
147 g.
147 d.
147 h.
148
Code
145.
Addbacks of credits and recaptures

Code
Amount
148 a.
148 d.
148 b.
148 e.
148 c.
148 f.
2048081030
NYPA1858
10/23/08
2008
IT-204.1
New York Corporate Partners' Schedule K

Tax Law ' Article 9-A
Partnership's name (as shown on Form IT-204)
Partnership's EIN
13-3691495
Entire net income (ENI) and minimum taxable income (MTI) information (see instructions)
ENI and MTI additions
1 Tax-exempt interest
............................................................................
1.
2 Federal depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3 Other state and local taxes
3.
......................................................................
4 Taxes paid to the U.S., possessions of the U.S., or foreign countries
................................
4.
5 Taxes related to the farmers' school tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
6 Special additional mortgage recording tax credit
...................................................
6.
................................................................................
7.
7 Other additions
Identify:
ENI and MTI subtractions

8 Dividends received
.............................................................................
9 Foreign dividends gross-up . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10 Allowable New York depreciation
................................................................
8.
9.
10.
11 Other subtractions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.

Identify:
Assets and liabilities (see instructions)
12 Total assets
..................................................
Average value New York State
Average value everywhere
12.
12.
13 Real property and marketable securities included on line 12, column B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
14 Real property and marketable securities at fair market value (FMV) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.
15 Total liabilities
.................................................................................
15.
Stocks, bonds, and other securities (attach list; see instructions)

16 Total average value of stocks, bonds, and other securities
..........................................
17 Total liabilities directly attributable to stocks, bonds, and other securities

18 Total average value of cash on hand and on deposit
16.
.............................
17.
...............................................
18.
19 Total liabilities directly attributable to cash on hand and on deposit
..................................
19.
Income from stocks, bonds, and other securities (attach list; see instructions)
20 Interest income from corporate and governmental debt instruments
21 Interest income from bank accounts
.................................
20.
..............................................................
21.
22 All other interest income from stocks, bonds, and other securities
23 Dividend income from stocks, bonds, and other securities
...................................
22.
..........................................
23.
24 Net capital gain or loss from stocks, bonds, and other securities
....................................
24.
25 Income from stocks, bonds, and other securities other than interest, dividends, capital gains,
or capital losses
............................................................................
25.
1161081030
NYPA2412
10/23/08
Please file this original scannable form with the Tax Department.
IT-204.1 (2008) Page 2 of 2
13-3691495
Income from stocks, bonds, and other securities (continued)

26 Interest deductions directly attributable to stocks, bonds, and other securities
........................
27 Noninterest deductions directly attributable to stocks, bonds, and other securities

28 Total interest deductions
26.
.....................
27.
........................................................................
28.
29 Total noninterest deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.
Business allocation percentage information and Metropolitan Commuter Transportation District (MCTD)
allocation percentage information (see instructions)
30 a During the reporting year, did the partnership do business, employ capital, own or lease property,
or maintain an office in New York State? (Mark an X in the appropriate box.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
30 b During the reporting year, did the partnership do business, employ capital, own or lease property,
or maintain an office in the MCTD? (Mark an X in the appropriate box.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
Average value of property

31 Adjusted basis of real estate owned
..
31.
...........
32.
.................
33.
32 FMV of real estate owned

33 Real estate rented
MCTD
New York State
Everywhere
34 Adjusted basis of inventories owned . . 34.

35 FMV of inventories owned
...........
35.
36 Adjusted basis of tangible personal

property owned . . . . . . . . . . . . . . . . . . . . 36.
37 FMV of tangible personal property
owned . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37.
38 Tangible personal property rented
...
38.
Receipts in the regular

course of business from:
39 Sales of tangible personal property
..
39.
................
40.
.................
41.
..........................
42.
40 Services performed
41 Rentals of property
42 Royalties
43 Other business receipts
.............
MCTD
New York State
Everywhere
43.
Payroll
MCTD
New York State
Everywhere
44 Wages and other compensation of

employees, except employees having
partnership-wide authority . . . . . . . . . . . 44.
45 Number of employees
..............
45.
Receipts and qualified manufacturing property (see instructions)

46 New York receipts
..............................................................................
46.
47 Total receipts from the sale of goods by manufacturing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47.

48 Total receipts from the lending of funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48.
49 Adjusted basis of qualified manufacturing property
.................................................
49.
1162081030
NYPA2412
10/23/08
2008
IT-204-IP
New York Partner's Schedule K-1

Tax Law ' Article 22 (Personal Income Tax)
Final K-1
For calendar year 2008 or fiscal year beginning
and ending
X
Partners: Before completing your income tax return, see Form IT-204-IP-I, Partner's Instructions for Form IT-204-IP (available at www.nystax.gov)
Amended K-1
Partnership's information (see instructions)

Partnership's EIN
13-3691495
A Mark an X in the box if either applies to your entity

B Tax shelter registration number, if any
C Business allocation percentage
Publicly traded partnership
Portfolio investment partnership
....................................................................
...........................................................................
Partner's information (see instructions)

Partner's name
Partner's identifying number
C. BIRGE SIGETY 2002 GR TRUST
59-7230603
Partner's address
C/O CORNELIUS SIGETY 1500 LEXINGTON AVENUE

City
State
ZIP code
NEW YORK
NY
10029
D The partner is a (mark an X in the appropriate box)
General partner or LLC member-manager
E What is the tax filing status of the partner? (Mark an X in the appropriate box, if known)
F If the partner is a disregarded entity or grantor trust,
enter the tax ID of the entity or individual reporting the income, if known
G Did the partner sell its entire interest during the tax year
Individual
......................................
....................................................
H Partner's share of profit, loss, and capital

1) Profit
2) Loss
Partnership
Yes
Beginning
...........................................................................
H1
............................................................................
H2
3) Capital
Limited partner or other LLC member
X Estate/trust
..........................................................................
H3
No
Ending
19.8000 %
19.8000 %
19.8000 %
19.8000 %
19.8000 %
19.8000 %
I Partner's share of liabilities at the end of the year

1) Nonrecourse
.................................................................................
2) Qualified nonrecourse financing

3) Recourse
I1
................................................................
I2
....................................................................................
I3
494,990.
J Partner's capital account analysis

1) Beginning capital account
.....................................................................
2) Capital contributed during the year - cash
.......................................................
3) Capital contributed during the year - property
....................................................
-541,399.
198,150.
J1
J2
J3
-65,605.
4) Current year increase (decrease) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J4

5) Withdrawals and distributions - cash
............................................................
J5
28,463.
-437,317.
6) Withdrawals and distributions - property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J6

7) Ending capital account
........................................................................
J7
8) Method of accounting (mark an X in the appropriate box)
X Tax basis
GAAP
Book
Other (attach explanation)
K Resident status (mark and X in all boxes that apply)

NYS full-year resident
Yonkers full-year resident
NYC full-year resident
NYS part-year resident
Yonkers part-year resident
NYC part-year resident
NYS nonresident
Yonkers nonresident
1181081030
NYPA2514
10/24/08
Page 2 of 4 IT-204-IP (2008)
13-3691495
L If the partner was included in a group return, enter the special NYS identification number, if known
M Was Form IT-2658-E filed with the partnership?
............................................................
Date
N NYS estimated tax paid on behalf of partner (from Form IT-2658)

1)
First installment
2)
Second installment
3)
Third installment
4)
Fourth installment
..............
................................................
.............................................
N2
N3
Total NYS estimated tax paid on behalf of partner (add lines N1 through N4)
Yes
No
Amount
N1
...............................................
..............................................
N4
...........................
Partner's share of income, deductions, etc.

A ' Partner's distributive share items
..............................
2 Net rental real estate income (loss)
2.
................................
3.
.......................................
4.
.............................................
5.
7 Royalties
1.
...........................
3 Other net rental income (loss)

5 Interest income
B ' Federal K-1 amount
C ' New York State amount

1.
-65,631.
3.
4.
24.
6.
6.
...................................................
7.
7.
.............................
8.
8.
..............................
9.
9.
..................................
10.
10.
.........................................
11.
11.
.......................................
12.
12.
...........................................
13.
13.
14.
14.
15.
15.
16 Tax-exempt income and nondeductible expenses . . . . . . . . . . . . . . . 16.
16.
9 Net long-term capital gain (loss)

10 Net section 1231 gain (loss)
11 Other income (loss)
24.
5.
..........................................
8 Net short-term capital gain (loss)
-65,631.
2.
Identify:
12 Section 179 deduction
13 Other deductions
Identify:
14 Tax preference items for minimum tax
........................
Identify:
.....................
17 Distributions - cash and marketable securities . . . . . . . . . . . . . . . . . . 17.
17.
18.
28,463.
18.
28,463.
19 Other items not included above that are required to be reported

separately to partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.
24.
19.
24.
18 Distributions - other property
.................................
Partner's share of New York modifications (see instructions)

20 New York State additions
Number
20 a
EA
20 b
EA
20 c
EA
20 d
EA
20 e
EA
20 f
EA
' Total amount
' New York State allocated amount
21 Total addition modifications (total of column A, lines 20a through 20f)
................................
21.
1182081030
NYPA2514
10/24/08

Partner's share of New York modifications (continued)
13-3691495
IT-204-IP (2008) Page 3 of 4
22 New York State subtractions

Number
22a.
ES
22b.
ES
22c.
ES
22d.
ES
22e.
ES
22f.
ES
' Total amount
23 Total subtraction modifications (total of column A, lines 22a through 22f)
.............................
23.
24 Additions to federal itemized deductions

Letter
Amount
24a.
24b.
24c.
24d.
24e.
24f.
25 Total additions to federal itemized deductions (add lines 24a through 24f)
............................
25.
26 Subtractions from federal itemized deductions

Letter
Amount
26a.
26b.
26c.
26d.
26e.
26f.
27 Total subtractions from federal itemized deductions (add lines 26a through 26f)
28 New York adjustments to tax preference items
.......................
27.
....................................................
28.
Partner's New York filing fee information

29 Partner's share of New York source gross income
.................................................
29.
Partner's credit information

...............................................................
..............................................................
32 On-site groundwater remediation credit component
................................................
30.
31.
32.
1183081030
NYPA2514
10/24/08
Page 4 of 4 IT-204-IP (2008)
13-3691495
Partner's credit information (continued)

33 Investments in certified EZ businesses
...........................................................
34 Contributions of money to EZ community development projects
.....................................
33.
34.
35 Recapture of credit for investments in certain EZ businesses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35.

.................
36.

...............................................................
37.
.....................................................................
38.
......................................................................
39.

QETC facilities, operations, and training credit (Form DTF-619)

.............................................
40.
....................................................
41.
...................................
42.
............................................................
43.

..........................................................
........................................................
46 Acres of qualified agricultural property converted to nonqualified use
................................
44.
45.
46.

Credit bases
Code
Amount
Code
47a.
47d.
47b.
47e.
47c.
47f.
Amount
Credit factors
Code
Factor
Code
Factor
Code
47g.
47i.
47k.
47h.
47j.
47l.
Factor

48 Long-term care insurance credit (Form IT-249)
....................................................
48.
49 Investment credit (including employment incentive credit and historic barn rehabilitation credit; Form IT-212) . . . . . . . . . . . . . . 49.
50 Research and development ' investment credit (Form IT-212)
......................................
50.
51 Other pass-through credits

Code
51a.
Amount
256
245.
Code
Amount
Code
Amount
51e.
51b.
51f.
51c.
51g.
51d.
51h.
52 Addbacks of credits and recaptures

Code
Amount
52a.
52d.
52b.
52e.
52c.
52f.
1184081030
NYPA2514
10/24/08
13-3691495
IT-204-IP, Schedule K-1, Page 2, Line 19

Other Items Statement
Investment income
24.
24.
Total
24.
24.
2008
IT-204-IP

Final K-1
and ending
X
Amended K-1

Partnership's EIN
13-3691495

....................................................................
...........................................................................

Partner's name
ROBERT SIGETY
207-42-6245
Partner's address
P.O. BOX 320

City
State
ZIP code
PIPERSVILLE
PA
18947

2) Loss
......................................
F
G
Partnership
Yes
Beginning
...........................................................................
H1
............................................................................
H2
3) Capital
Estate/trust
....................................................

1) Profit
X Individual
..........................................................................
H3
No
Ending
10.0000 %
10.0000 %
10.0000 %
10.0000 %
10.0000 %
10.0000 %

1) Nonrecourse
.................................................................................

3) Recourse
I1
................................................................
I2
....................................................................................
I3
249,996.

.....................................................................
.......................................................
....................................................
-273,435.
100,369.
J1
J2
J3
-33,134.

............................................................
J5
14,375.
-220,575.

........................................................................
J7
X Tax basis
GAAP
Book
NYS nonresident
Yonkers nonresident
1181081030
NYPA2514
10/24/08
ROBERT SIGETY
Page 2 of 4 IT-204-IP (2008)
13-3691495
............................................................
Date

1)
First installment
2)
Second installment
3)
Third installment
4)
Fourth installment
..............
................................................
.............................................
N2
N3
Yes
No
Amount
N1
...............................................
..............................................
N4
...........................

..............................
2.
................................
3.
.......................................
4.
.............................................
5.
7 Royalties
1.
...........................

5 Interest income

1.
-33,147.
3.
4.
13.
6.
6.
...................................................
7.
7.
.............................
8.
8.
..............................
9.
9.
..................................
10.
10.
.........................................
11.
11.
.......................................
12.
12.
...........................................
13.
13.
14.
14.
15.
15.
16.

13.
5.
..........................................
-33,147.
2.
Identify:
13 Other deductions
Identify:
........................
Identify:
.....................
17.
18.
14,375.
18.
14,375.

13.
19.
13.
.................................

Number
20 a
EA
20 b
EA
20 c
EA
20 d
EA
20 e
EA
20 f
EA
' Total amount
................................
21.
1182081030
NYPA2514
10/24/08
ROBERT SIGETY
13-3691495
IT-204-IP (2008) Page 3 of 4

Number
22a.
ES
22b.
ES
22c.
ES
22d.
ES
22e.
ES
22f.
ES
' Total amount
.............................
23.

Letter
Amount
24a.
24b.
24c.
24d.
24e.
24f.
............................
25.

Letter
Amount
26a.
26b.
26c.
26d.
26e.
26f.
.......................
27.
....................................................
28.

.................................................
29.

...............................................................
..............................................................
................................................
30.
31.
32.
1183081030
NYPA2514
10/24/08
Page 4 of 4 IT-204-IP (2008)
ROBERT SIGETY
13-3691495

...........................................................
.....................................
33.
34.

.................
36.

...............................................................
37.
.....................................................................
38.
......................................................................
39.


.............................................
40.
....................................................
41.
...................................
42.
............................................................
43.

..........................................................
........................................................
................................
44.
45.
46.

Credit bases
Code
Amount
Code
47a.
47d.
47b.
47e.
47c.
47f.
Amount
Credit factors
Code
Factor
Code
Factor
Code
47g.
47i.
47k.
47h.
47j.
47l.
Factor

....................................................
48.
......................................
50.

Code
51a.
Amount
256
125.
Code
Amount
Code
Amount
51e.
51b.
51f.
51c.
51g.
51d.
51h.

Code
Amount
52a.
52d.
52b.
52e.
52c.
52f.
1184081030
NYPA2514
10/24/08
13-3691495

Investment income
13.
13.
Total
13.
13.
2008
IT-204-IP

Final K-1
and ending
X
Amended K-1

Partnership's EIN
13-3691495

....................................................................
...........................................................................

Partner's name
KINNE S. YON
207-42-6247
Partner's address
1 WEST 67TH ST.

City
State
ZIP code
NEW YORK
NY
10023

2) Loss
......................................
F
G
Partnership
Yes
Beginning
...........................................................................
H1
............................................................................
H2
3) Capital
Estate/trust
....................................................

1) Profit
X Individual
..........................................................................
H3
No
Ending
19.8000 %
19.8000 %
19.8000 %
19.8000 %
19.8000 %
19.8000 %

1) Nonrecourse
.................................................................................

3) Recourse
I1
................................................................
I2
....................................................................................
I3
494,991.

.....................................................................
.......................................................
....................................................
-541,401.
198,150.
J1
J2
J3
-65,606.

............................................................
J5
28,463.
-437,320.

........................................................................
J7
X Tax basis
GAAP
Book
NYS nonresident
Yonkers nonresident
X NYC full-year resident

1181081030
NYPA2514
10/24/08
KINNE S. YON
Page 2 of 4 IT-204-IP (2008)
13-3691495
............................................................
Date

1)
First installment
2)
Second installment
3)
Third installment
4)
Fourth installment
..............
................................................
.............................................
N2
N3
Yes
No
Amount
N1
...............................................
..............................................
N4
...........................

..............................
2.
................................
3.
.......................................
4.
.............................................
5.
7 Royalties
1.
...........................

5 Interest income

1.
-65,630.
3.
4.
25.
6.
6.
...................................................
7.
7.
.............................
8.
8.
..............................
9.
9.
..................................
10.
10.
.........................................
11.
11.
.......................................
12.
12.
...........................................
13.
13.
14.
14.
15.
15.
16.

25.
5.
..........................................
-65,630.
2.
Identify:
13 Other deductions
Identify:
........................
Identify:
.....................
17.
18.
28,463.
18.
28,463.

25.
19.
25.
.................................

Number
20 a
EA
20 b
EA
20 c
EA
20 d
EA
20 e
EA
20 f
EA
' Total amount
................................
21.
1182081030
NYPA2514
10/24/08
KINNE S. YON
13-3691495
IT-204-IP (2008) Page 3 of 4

Number
22a.
ES
22b.
ES
22c.
ES
22d.
ES
22e.
ES
22f.
ES
' Total amount
.............................
23.

Letter
Amount
24a.
24b.
24c.
24d.
24e.
24f.
............................
25.

Letter
Amount
26a.
26b.
26c.
26d.
26e.
26f.
.......................
27.
....................................................
28.

.................................................
29.

...............................................................
..............................................................
................................................
30.
31.
32.
1183081030
NYPA2514
10/24/08
Page 4 of 4 IT-204-IP (2008)
KINNE S. YON
13-3691495

...........................................................
.....................................
33.
34.

.................
36.

...............................................................
37.
.....................................................................
38.
......................................................................
39.


.............................................
40.
....................................................
41.
...................................
42.
............................................................
43.

..........................................................
........................................................
................................
44.
45.
46.

Credit bases
Code
Amount
Code
47a.
47d.
47b.
47e.
47c.
47f.
Amount
Credit factors
Code
Factor
Code
Factor
Code
47g.
47i.
47k.
47h.
47j.
47l.
Factor

....................................................
48.
......................................
50.

Code
51a.
Amount
256
248.
Code
Amount
Code
Amount
51e.
51b.
51f.
51c.
51g.
51d.
51h.

Code
Amount
52a.
52d.
52b.
52e.
52c.
52f.
1184081030
NYPA2514
10/24/08
13-3691495

Investment income
25.
25.
Total
25.
25.
2008
IT-204-IP

Final K-1
and ending
X
Amended K-1

Partnership's EIN
13-3691495

....................................................................
...........................................................................

Partner's name
ROBERT G SIGETY GRAT DATED 1/26/96
22-6674819
Partner's address
C/O CORNELIUS SIGETY P.O. BOX 369

City
State
ZIP code
PIPERSVILLE
PA
18947
Individual
......................................
....................................................

1) Profit
2) Loss
Partnership
Yes
Beginning
...........................................................................
H1
............................................................................
H2
3) Capital
X Estate/trust
..........................................................................
H3
No
Ending
9.8000 %
9.8000 %
9.8000 %
9.8000 %
9.8000 %
9.8000 %

1) Nonrecourse
.................................................................................

3) Recourse
I1
................................................................
I2
....................................................................................
I3
244,996.

.....................................................................
.......................................................
....................................................
-267,967.
97,791.
J1
J2
J3
-32,472.

............................................................
J5
14,087.
-216,735.

........................................................................
J7
X Tax basis
GAAP
Book
NYS nonresident
Yonkers nonresident
1181081030
NYPA2514
10/24/08
Page 2 of 4 IT-204-IP (2008)
13-3691495
............................................................
Date

1)
First installment
2)
Second installment
3)
Third installment
4)
Fourth installment
..............
................................................
.............................................
N2
N3
Yes
No
Amount
N1
...............................................
..............................................
N4
...........................

..............................
2.
................................
3.
.......................................
4.
.............................................
5.
7 Royalties
1.
...........................

5 Interest income

1.
-32,484.
3.
4.
12.
6.
6.
...................................................
7.
7.
.............................
8.
8.
..............................
9.
9.
..................................
10.
10.
.........................................
11.
11.
.......................................
12.
12.
...........................................
13.
13.
14.
14.
15.
15.
16.

12.
5.
..........................................
-32,484.
2.
Identify:
13 Other deductions
Identify:
........................
Identify:
.....................
17.
18.
14,087.
18.
14,087.

12.
19.
12.
.................................

Number
20 a
EA
20 b
EA
20 c
EA
20 d
EA
20 e
EA
20 f
EA
' Total amount
................................
21.
1182081030
NYPA2514
10/24/08

13-3691495
IT-204-IP (2008) Page 3 of 4

Number
22a.
ES
22b.
ES
22c.
ES
22d.
ES
22e.
ES
22f.
ES
' Total amount
.............................
23.

Letter
Amount
24a.
24b.
24c.
24d.
24e.
24f.
............................
25.

Letter
Amount
26a.
26b.
26c.
26d.
26e.
26f.
.......................
27.
....................................................
28.

.................................................
29.

...............................................................
..............................................................
................................................
30.
31.
32.
1183081030
NYPA2514
10/24/08
Page 4 of 4 IT-204-IP (2008)
13-3691495

...........................................................
.....................................
33.
34.

.................
36.

...............................................................
37.
.....................................................................
38.
......................................................................
39.


.............................................
40.
....................................................
41.
...................................
42.
............................................................
43.

..........................................................
........................................................
................................
44.
45.
46.

Credit bases
Code
Amount
Code
47a.
47d.
47b.
47e.
47c.
47f.
Amount
Credit factors
Code
Factor
Code
Factor
Code
47g.
47i.
47k.
47h.
47j.
47l.
Factor

....................................................
48.
......................................
50.

Code
51a.
Amount
256
123.
Code
Amount
Code
Amount
51e.
51b.
51f.
51c.
51g.
51d.
51h.

Code
Amount
52a.
52d.
52b.
52e.
52c.
52f.
1184081030
NYPA2514
10/24/08
13-3691495

Investment income
12.
12.
Total
12.
12.
2008
IT-204-IP

Final K-1
and ending
X
Amended K-1

Partnership's EIN
13-3691495

....................................................................
...........................................................................

Partner's name
CORNELIUS E.SIGETY GRAT DTD 1/26/96
22-6674815
Partner's address
C/O ROBERT SIGETY PO BOX 369

City
State
ZIP code
PIPERSVILLE
PA
18947
Individual
......................................
....................................................

1) Profit
2) Loss
Partnership
Yes
Beginning
...........................................................................
H1
............................................................................
H2
3) Capital
X Estate/trust
..........................................................................
H3
No
Ending
19.8000 %
19.8000 %
19.8000 %
19.8000 %
19.8000 %
19.8000 %

1) Nonrecourse
.................................................................................

3) Recourse
I1
................................................................
I2
....................................................................................
I3
494,991.

.....................................................................
.......................................................
....................................................
-541,402.
198,150.
J1
J2
J3
-65,606.

............................................................
J5
28,463.
-437,321.

........................................................................
J7
X Tax basis
GAAP
Book
NYS nonresident
Yonkers nonresident
1181081030
NYPA2514
10/24/08
Page 2 of 4 IT-204-IP (2008)
13-3691495
............................................................
Date

1)
First installment
2)
Second installment
3)
Third installment
4)
Fourth installment
..............
................................................
.............................................
N2
N3
Yes
No
Amount
N1
...............................................
..............................................
N4
...........................

..............................
2.
................................
3.
.......................................
4.
.............................................
5.
7 Royalties
1.
...........................

5 Interest income

1.
-65,630.
3.
4.
25.
6.
6.
...................................................
7.
7.
.............................
8.
8.
..............................
9.
9.
..................................
10.
10.
.........................................
11.
11.
.......................................
12.
12.
...........................................
13.
13.
14.
14.
15.
15.
16.

25.
5.
..........................................
-65,630.
2.
Identify:
13 Other deductions
Identify:
........................
Identify:
.....................
17.
18.
28,463.
18.
28,463.

25.
19.
25.
.................................

Number
20 a
EA
20 b
EA
20 c
EA
20 d
EA
20 e
EA
20 f
EA
' Total amount
................................
21.
1182081030
NYPA2514
10/24/08

13-3691495
IT-204-IP (2008) Page 3 of 4

Number
22a.
ES
22b.
ES
22c.
ES
22d.
ES
22e.
ES
22f.
ES
' Total amount
.............................
23.

Letter
Amount
24a.
24b.
24c.
24d.
24e.
24f.
............................
25.

Letter
Amount
26a.
26b.
26c.
26d.
26e.
26f.
.......................
27.
....................................................
28.

.................................................
29.

...............................................................
..............................................................
................................................
30.
31.
32.
1183081030
NYPA2514
10/24/08
Page 4 of 4 IT-204-IP (2008)
13-3691495

...........................................................
.....................................
33.
34.

.................
36.

...............................................................
37.
.....................................................................
38.
......................................................................
39.


.............................................
40.
....................................................
41.
...................................
42.
............................................................
43.

..........................................................
........................................................
................................
44.
45.
46.

Credit bases
Code
Amount
Code
47a.
47d.
47b.
47e.
47c.
47f.
Amount
Credit factors
Code
Factor
Code
Factor
Code
47g.
47i.
47k.
47h.
47j.
47l.
Factor

....................................................
48.
......................................
50.

Code
51a.
Amount
256
248.
Code
Amount
Code
Amount
51e.
51b.
51f.
51c.
51g.
51d.
51h.

Code
Amount
52a.
52d.
52b.
52e.
52c.
52f.
1184081030
NYPA2514
10/24/08
13-3691495

Investment income
25.
25.
Total
25.
25.
2008
IT-204-IP

Final K-1
and ending
X
Amended K-1

Partnership's EIN
13-3691495

....................................................................
...........................................................................

Partner's name
ELIZABETH S MARCUS GRAT DATED 1/26/96
22-6674817
Partner's address
C/O CORNELIUS SIGETY PO BOX 320

City
State
ZIP code
PIPERSVILLE
PA
18947
Individual
......................................
....................................................

1) Profit
2) Loss
Partnership
Yes
Beginning
...........................................................................
H1
............................................................................
H2
3) Capital
X Estate/trust
..........................................................................
H3
No
Ending
19.8000 %
19.8000 %
19.8000 %
19.8000 %
19.8000 %
19.8000 %

1) Nonrecourse
.................................................................................

3) Recourse
I1
................................................................
I2
....................................................................................
I3
494,991.

.....................................................................
.......................................................
....................................................
-541,402.
198,150.
J1
J2
J3
-65,606.

............................................................
J5
28,463.
-437,321.

........................................................................
J7
X Tax basis
GAAP
Book
NYS nonresident
Yonkers nonresident
1181081030
NYPA2514
10/24/08
Page 2 of 4 IT-204-IP (2008)
13-3691495
............................................................
Date

1)
First installment
2)
Second installment
3)
Third installment
4)
Fourth installment
..............
................................................
.............................................
N2
N3
Yes
No
Amount
N1
...............................................
..............................................
N4
...........................

..............................
2.
................................
3.
.......................................
4.
.............................................
5.
7 Royalties
1.
...........................

5 Interest income

1.
-65,630.
3.
4.
25.
6.
6.
...................................................
7.
7.
.............................
8.
8.
..............................
9.
9.
..................................
10.
10.
.........................................
11.
11.
.......................................
12.
12.
...........................................
13.
13.
14.
14.
15.
15.
16.

25.
5.
..........................................
-65,630.
2.
Identify:
13 Other deductions
Identify:
........................
Identify:
.....................
17.
18.
28,463.
18.
28,463.

25.
19.
25.
.................................

Number
20 a
EA
20 b
EA
20 c
EA
20 d
EA
20 e
EA
20 f
EA
' Total amount
................................
21.
1182081030
NYPA2514
10/24/08

13-3691495
IT-204-IP (2008) Page 3 of 4

Number
22a.
ES
22b.
ES
22c.
ES
22d.
ES
22e.
ES
22f.
ES
' Total amount
.............................
23.

Letter
Amount
24a.
24b.
24c.
24d.
24e.
24f.
............................
25.

Letter
Amount
26a.
26b.
26c.
26d.
26e.
26f.
.......................
27.
....................................................
28.

.................................................
29.

...............................................................
..............................................................
................................................
30.
31.
32.
1183081030
NYPA2514
10/24/08
Page 4 of 4 IT-204-IP (2008)
13-3691495

...........................................................
.....................................
33.
34.

.................
36.

...............................................................
37.
.....................................................................
38.
......................................................................
39.


.............................................
40.
....................................................
41.
...................................
42.
............................................................
43.

..........................................................
........................................................
................................
44.
45.
46.

Credit bases
Code
Amount
Code
47a.
47d.
47b.
47e.
47c.
47f.
Amount
Credit factors
Code
Factor
Code
Factor
Code
47g.
47i.
47k.
47h.
47j.
47l.
Factor

....................................................
48.
......................................
50.

Code
51a.
Amount
256
248.
Code
Amount
Code
Amount
51e.
51b.
51f.
51c.
51g.
51d.
51h.

Code
Amount
52a.
52d.
52b.
52e.
52c.
52f.
1184081030
NYPA2514
10/24/08
13-3691495

Investment income
25.
25.
Total
25.
25.
2008
IT-204-CP
New York Corporate Partner's

Schedule K-1
Tax Law - Article 9-A
Final K-1
For calandar year 2008 or tax year beginning
X Amended K-1
and ending
Partners: Before completing your franchise tax return, see Form IT-204-CP-I, Partner's Instructions for Form IT-204-CP (available at www.nystax.gov)
Partnership's information
Partnership's EIN
13-3691495
A Mark an X in the box if either applies to your entity:

....................................................................
Partner's information
Partner's name
Partner's EIN
TANNEN REALTY INC.
13-3691497
Partner's address
1500 LEXINGTON AVENUE C/O KENBAR MANAGEMENT

City
State
ZIP code
NEW YORK
NY
10029
X General partner or LLC member-manager
The partner is a (mark an X in the appropriate box)
What is the New York tax filing status of the partner? (Mark an X in the appropriate box, if known)
If the partner is a disregarded entity, enter the EIN of the entity reporting the income (if known)
Did the partner sell its entire interest during the tax year?
2) Loss
......................................................
Yes
Beginning
G1
............................................................................
G2
..........................................................................
G3
No
Ending
1.0000 %
1.0000 %
1.0000 %
1.0000
1.0000
1.0000
%
%
%
Partner's share of liabilities at the end of the year

1) Nonrecourse
.................................................................................

3) Recourse
I
S corporation
E
...........................................................................
3) Capital
C corporation
....................
G Partner's share of profit, loss, and capital

1) Profit
H1
................................................................
H2
....................................................................................
H3
25,000.
12,000.
Partner's capital account analysis

.....................................................................
.......................................................
I2
....................................................
I3
4) Current year increase (decrease) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
I4
............................................................
I5
6) Withdrawals and distributions - property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
I6
I7
........................................................................
-2,459.
3,830.
I1
-3,313.
1,438.
-3,380.
Tax basis
GAAP
Book
1171081030
NYPA2613
10/23/08
TANNEN REALTY INC.
Page 2 of 6 IT-204-CP (2008)

J
Was Form CT-2658-E filed with the partnership?
NYS estimated tax paid on behalf of partner (from Form CT-2658)

1) First installment
13-3691495
...............................................................
Date
...................................................
2) Second installment
3) Third installment
................................................
K2
K3
.................................................
Total NYS estimated tax paid on behalf of partner (add lines K1 through K4)
Yes
No
Amount
K1
...................................................
4) Fourth installment
K4
.............................
Partner's share of entire net income (ENI) and minimum taxable income (MTI) information (see instructions)
ENI and MTI additions
1
Tax-exempt interest
Federal depreciation
..............................................................................
1.
.............................................................................
2.
Other state and local taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
Taxes paid to the U.S., possessions of the U.S., or foreign countries
..................................
4.
Taxes related to the farmers' school tax credit
......................................................
5.
Special additional mortgage recording tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
Other additions
7.
..................................................................................
Identify:
ENI and MTI subtractions

8
Dividends received
Foreign dividends gross-up
...............................................................................
.......................................................................
10 Allowable New York depreciation

11 Other subtractions
8.
9.
..................................................................
10.
...............................................................................
11.
Identify:
Partner's proportionate part of assets and liablilities (see instructions)
12 Total assets
................................................
Average value New York State
Average value everywhere
12.
12.
13 Real property and marketable securities included on line 12, column B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13.
14 Real property and marketable securities at fair market value (FMV) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.
15 Total liabilities
15.
.................................................................................
Partner's proportionate part of stocks, bonds, and other securities (see instructions)
16 Total average value of stocks, bonds, and other securities
..........................................
17 Total liabilities directly attributable to stocks, bonds, and other securities

18 Total average value of cash on hand and on deposit
16.
.............................
17.
...............................................
18.
19 Total liabilities directly attributable to cash on hand and on deposit
..................................
19.
1172081030
NYPA2613
10/23/08
TANNEN REALTY INC.
13-3691495
Page 3 of 6 IT-204-CP(2008)
Partner's share of income from stocks, bonds, and other securities (see instructions)
20 Interest income from corporate and governmental debt instruments
21 Interest income from bank accounts
...................................
20.
...............................................................
21.
22 All other interest income from stocks, bonds, and other securities
23 Dividend income from stocks, bonds, and other securities
.....................................
22.
............................................
23.
24 Net capital gain or loss from stocks, bonds, and other securities
......................................
24.
25 Income from stocks, bonds, and other securities other than interest, dividends,
capital gains, or capital losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.
26 Interest deductions directly attributable to stocks, bonds, and other securities
..........................
27 Noninterest deductions directly attributable to stocks, bonds, and other securities

28 Total interest deductions
26.
.......................
27.
..........................................................................
28.
29 Total noninterest deductions
......................................................................
29.
Partner's share and proportionate part of the business allocation percentage (BAP) information and
Metropolitan Commuter Transportation District (MCTD) allocation percentage information (see instructions)
30a During the reporting year did the partnership do business, employ capital, own or lease property,
or maintain an office in New York State? (Mark an X in the appropriate box) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes
No
30b During the reporting year did the partnership do business, employ capital, own or lease property,
or maintain an office in the MCTD? (Mark an X in the appropriate box) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes
No
Average value of property
31 Adjusted basis of real estate owned
.....
31.
..............
32.
.....................
33.
32 FMV of real estate owned

33 Real estate rented
34 Adjusted basis of inventories owned
.....
34.
..............
35.
36 Adjusted basis of tangible personal

property owned . . . . . . . . . . . . . . . . . . . . . . . .
36.
FMV of tangible personal

37 property owned . . . . . . . . . . . . . . . . . . . . . . . .
37.
38 Tangible personal property rented
38.
35 FMV of inventories owned
.......
Receipts in the regular

course of business from:
39 Sales of tangible personal property
......
39.
40 Services performed
....................
40.
41 Rentals of property
....................
41.
.............................
42.
42 Royalties
43 Other business receipts
.....................
MCTD
New York State
Everywhere
A
MCTD
B
New York State
C
Everywhere
43.
Payroll
MCTD
New York State
Everywhere
44 Wages and other compensation of

employees, except employees
having partnership-wide authority
45 Number of employees
.......
44.
.................
45.
1173081030
NYPA2613
10/23/08
Page 4 of 6
IT-204-CP
(2008)
TANNEN REALTY INC.
13-3691495
Partner's share and proportionate part of receipts and qualified manufacturing property (see instructions)
46
New York receipts
47
Total receipts from the sale of goods by manufacturing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47.
48
Total receipts from the lending of funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48.
49
Adjusted basis of qualified manufacturing property
..............................................................................
.................................................
46.
49.
Partner's share of New York modifications (for New York S corporations only)
Number
50a.
EA -
50b.
EA -
50c.
EA -
50d.
EA -
50e.
EA -
50f.
EA -
A ' Total amount
..............................
51.

Number
52a.
ES -
52b.
ES -
52c.
ES -
52d.
ES -
52e.
ES -
52f.
ES -
A ' Total amount
...........................
53.
..........................
55.

Letter
Amount
54a.
54b.
54c.
54d.
54e.
54f.
(continued)
1174081030
NYPA2646
10/23/08
TANNEN REALTY INC.
13-3691495
Page 5 of 6 IT-204-CP (2008)
Partner's share of New York modifications (for New York S corporations only) (continued)
Letter
Amount
56a.
56b.
56c.
56d.
56e.
56f.
.................
57.
...............................................
58.
Partner's share of income, deductions, etc. (from federal Form 1065, Schedule K-1)
Partner's distributive share items
...................................................................
60.
.....................................................................
61.
............................................................................
62.
..................................................................................
63.

63 Interest income
65 Royalties
59.
................................................................
...............................................................................
64.
........................................................................................
65.
..................................................................
66.
...................................................................
67.
.......................................................................
68.
..............................................................................
69.

-3,315.
1.
Identify:
............................................................................
71 Other deductions (see instructions)
................................................................
70.
71.
Identify
.............................................................
72.
Identify:
73 Tax-exempt income and nondeductible expenses (see instructions)
...................................
73.
74 Distributions - cash and marketable securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74.

......................................................................
76 Other items not included above that are required to be reported separately to partners
1,438.
1.
75.
..................
76.
.............................................................................
77.
Investment income
Identify

Brownfield redevelopment tax credit (Form CT-611)
77 Site preparation cost
78 Tangible property cost
............................................................................
79 On-site groundwater remediation cost
..............................................................
78.
79.
1175081030
NYPA2646
10/23/08
Page 6 of 6
IT-204-CP
(2008)
TANNEN REALTY INC.
13-3691495

EZ capital tax credit (Form CT-602)
...........................................................
80.
.....................................
81.
82 Recapture of credit for investments in certified EZ business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
82.
83 Recapture of credit for monetary contributions to EZ community development projects . . . . . . . . . . . . . . . . .
83.
QEZE tax reduction credit (Form CT-604-CP)

...............................................................
84.
.....................................................................
85.
......................................................................
86.


.............................................
87.
....................................................
88.
...................................
89.
............................................................
90.
Farmers' school tax credit (Form CT-47)

..........................................................
........................................................
................................
91.
92.
93.

Credit bases
Code
Amount
Code
94a.
94d.
94b.
94e.
94c.
94f.
Amount
Credit factors
Code
Factor
Code
Factor
Code
94g.
94i.
94k.
94h.
94j.
94l.
Factor
Part ' 2 Pass-through credits, addbacks, and recaptures

95 Pass-through credits
Code
95a.
Amount
256
13.
Code
Amount
Code
Amount
95e.
95b.
95f.
95c.
95g.
95d.
95h.

Code
Amount
96a.
96d.
96b.
96e.
96c.
96f.
1176081030
NYPA2646
10/23/08
13-3691495
IT-204, Page 5, Section 7, Line 105

Investment income
125.
Total
125.

Amend11504 08p FC

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Amend11504 08p FC

Uploaded by

Copyright:

Available Formats

2008

New York State Department of Taxation and Finance

Read the instructions, Form IT-204-I, before completing this return.

I Employer identification number (EIN)

1504 ASSOCIATES L.P.

Principal business activity

Trade name of business if different from legal name above

Address (number and street or rural route)

Principal product or service

NAICS business code

C/O KENBAR 1500 LEXINGTON AVEN

Date business started

Section 1 ' Partnership information

A Mark an X in the box that applies to your entity

Limited liability partnership (LLP)

Portfolio Investment partnership

C Mark applicable box(es):

Is this return the result of federal audit changes?

Final return (attach explanation)

Enter date of final federal determination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D2 G

E Did you file a NYS partnership return for

If No, state reason:

J Are any partners in this partnership also partnerships or LLCs?

M Did the partnership make an election under IRC section 754? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Print Designee's name

Designee's phone number

Paid preparer's use only

Signature of general partner

ABRAMS GARFINKEL MARGOLIS B

I Daytime phone number

Mail your return to:

1504 ASSOCIATES L.P.

Page 2 of 8 IT-204 (2008)

Section 2 ' Federal ordinary business income (loss)

2 Returns and allowances

3 Subtract line 2 from line 1

5 Gross profit (subtract line 4 from line 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 Cost of goods sold

7 Net farm profit (loss) (attach federal Form 1040, Schedule F)

10 Total income (loss) (combine lines 5 through 9)

Part 2 ' Deductions from federal Form 1065

12 Guaranteed payments to partners

16 Taxes and licenses

18 Depreciation (if required, attach federal Form 4562)

19 Depreciation reported on federal Form 1065, Schedule A and

23 Employee benefit programs

24 Other deductions (attach statement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.

28 Purchases less cost of items withdrawn for personal use

29 Cost of labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.

33 Inventory at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.

35 Method used for valuing closing inventory (mark an X in applicable boxes)

1504 ASSOCIATES L.P.

IT-204 (2008) Page 3 of 8

Beginning of tax year

End of tax year

Liabilities and capital

59 Mortgages, notes, bonds payable in less than one year

62 Mortgages, notes, bonds payable in one year or more . . . . . . . . . . . . . . . .

63 Other liabilities (attach statement)

64 Partners' capital accounts

65 Total liabilities and capital

61 All nonrecourse loans