2
651111
Schedule K-1
(Form 1065)
2011
For calendar year 2011, or tax
Department of the Treasury
Internal Revenue Service
Final K-1
year beginning
1 Ordinary business income (loss)
ending
13,134.
Partner's Share of Income, Deductions,
| See separate instructions.
Credits, etc.
Part I
Amended K-1
OMB No. 1545-0099
Part III Partner's Share of Current Year Income,
Deductions, Credits, and Other Items
2
15 Credits
Net rental real estate income (loss)
-11,350.
16 Foreign transactions
3 Other net rental income (loss)
Information About the Partnership
A Partnership's employer identification number
4 Guaranteed payments
B Partnership's name, address, city, state, and ZIP code
5 Interest income
20-5800820
ASCENDANCE MANAGER I LLC
200 WEST MADISON STREET SUITE 3200
CHICAGO, IL 60606
185.
6a Ordinary dividends
17 Alternative min tax (AMT) items
6b Qualified dividends
A
-496.
C IRS Center where partnership filed return
CINCINNATI, OH
7 Royalties
D
8 Net short-term capital gain (loss)
18 Tax-exempt income and
Check if this is a publicly traded partnership (PTP)
Part II
9a Net long-term capital gain (loss)
Information About the Partner
E Partner's identifying number
9b Collectibles (28%) gain (loss)
F Partner's name, address, city, state, and ZIP code
9c Unrecaptured sec 1250 gain
26-0328292
10 Net section 1231 gain (loss)
A
V*
185.
8,659.
11 Other income (loss)
member
Foreign partner
PARTNERSHIP
$
$
$
$(
$
12 Section 179 deduction
13 Other deductions
Ending
38.8900000%
38.8900000%
38.8900000%
14 Self-employment earnings (loss)
47,272.
831,747.
0.
476,108.
236,578.
1,969.
)
714,655.
*See attached statement for additional information.
For IRS Use Only
J Partner's share of profit, loss, and capital:
Beginning
38.8900000%
Profit
38.8900000%
Loss
38.8900000%
Capital
K Partner's share of liabilities at year end:
Nonrecourse ~~~~~~~~~~~~~~~~ $
Qualified nonrecourse financing ~~~~~~~~ $
Recourse ~~~~~~~~~~~~~~~~~~ $
L Partner's capital account analysis:
Beginning capital account ~~~~~~~~~~
Capital contributed during the year ~~~~~~
Current year increase (decrease) ~~~~~~~~
Withdrawals & distributions ~~~~~~~~~~
Ending capital account ~~~~~~~~~~~~
19 Distributions
20 Other information
TRANSCENDANCE INVESTORS LLC
200 W MADISON STREET SUITE 3200
CHICAGO, IL 60606
X Limited partner or other LLC
G
General partner or LLC
member-manager
H X Domestic partner
I What type of entity is this partner?
nondeductible expenses
X
Tax basis
GAAP
Section 704(b) book
Other (explain)
M Did the partner contribute property with a built-in gain or loss?
X No
Yes
If "Yes", attach statement (see instructions)
111261
11-04-11 LHA For Paperwork Reduction Act Notice, see Instructions for Form 1065.
Schedule K-1 (Form 1065) 2011
2
ASCENDANCE MANAGER I LLC
20-5800820
}}}}}}}}}}}}}}}}}}}}}}}}
}}}}}}}}}}
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
SCHEDULE K-1
UNRELATED BUSINESS TAXABLE INCOME, BOX 20, CODE V
}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}
DESCRIPTION
}}}}}}}}}}}
UNRELATED TAXABLE BUSINESS
INCOME - PASSTHROUGH
PARTNER FILING INSTRUCTIONS
}}}}}}}}}}}}}}}}}}}}}}}}}}}
SEE IRS SCH. K-1 INSTRUCTIONS
TOTAL TO SCHEDULE K-1, BOX 20, CODE V
AMOUNT
}}}}}}}}}}}}}}
8,659.
}}}}}}}}}}}}}}
8,659.
~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
SCHEDULE K-1
FOOTNOTES
}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}
THE EXCEPTION FOR DEBT-FINANCED UBIT FOR QUALIFIED
ORGANIZATIONS UNDER SEC. 514 (C)(9) APPLIES TO THE
UBIT PRESENTED ON LINE 20V OF YOUR K-1.
PLEASE CONSULT YOUR TAX ADVISOR.
PARTNER NUMBER 2
2
Page
Schedule K-1 (Form 1065) 2011
This list identifies the codes used on Schedule K-1 for all partners and provides summarized reporting information for partners who file
Form 1040. For detailed reporting and filing information, see the separate Partner's Instructions for Schedule K-1 and the instructions
for your income tax return.
Code
1.
Ordinary business income (loss). Determine whether the income (loss) is
passive or nonpassive and enter on your return as follows.
J
K
L
Work opportunity credit
Disabled access credit
Empowerment zone and renewal
community employment credit
M Credit for increasing research
activities
N Credit for employer social security
and Medicare taxes
O Backup withholding
P Other credits
Report on
4.
5.
6a.
6b.
7.
8.
9a.
9b.
Passive loss
Passive income
Nonpassive loss
Nonpassive income
Net rental real estate income (loss)
Other net rental income (loss)
Net income
Net loss
Guaranteed payments
Interest income
Ordinary dividends
Qualified dividends
Royalties
Net short-term capital gain (loss)
Net long-term capital gain (loss)
Collectibles (28%) gain (loss)
9c.
10.
11.
Unrecaptured section 1250 gain
Net section 1231 gain (loss)
Other income (loss)
2.
3.
See the Partner's Instructions
Schedule E, line 28, column (g)
Schedule E, line 28, column (h)
Schedule E, line 28, column (j)
See the Partner's Instructions
Schedule E, line 28, column (g)
See the Partner's Instructions
Schedule E, line 28, column (j)
Form 1040, line 8a
Form 1040, line 9a
Form 1040, line 9b
Schedule E, line 3b
Schedule D, line 5
Schedule D, line 12
28% Rate Gain Worksheet, line 4
(Schedule D Instructions)
See the Partner's Instructions
See the Partner's Instructions
Code
A Other portfolio income (loss)
B Involuntary conversions
C Sec. 1256 contracts & straddles
D Mining exploration costs recapture
E Cancellation of debt
F Other income (loss)
See the Partner's Instructions
See the Partner's Instructions
Form 6781, line 1
See Pub. 535
Form 1040, line 21 or Form 982
See the Partner's Instructions
12.
Section 179 deduction
See the Partner's Instructions
13.
Other deductions
A Cash contributions (50%)
B Cash contributions (30%)
C Noncash contributions (50%)
D Noncash contributions (30%)
E Capital gain property to a 50%
organization (30%)
F Capital gain property (20%)
G Contributions (100%)
H Investment interest expense
I
Deductions - royalty income
J Section 59(e)(2) expenditures
K Deductions - portfolio (2% floor)
L Deductions - portfolio (other)
M Amounts paid for medical insurance
N Educational assistance benefits
O Dependent care benefits
P Preproductive period expenses
Q Commercial revitalization deduction
from rental real estate activities
R Pensions and IRAs
S Reforestation expense deduction
T Domestic production activities
information
U Qualified production activities income
V Employer's Form W-2 wages
W Other deductions
14.
p
n
m
n
o
Form 4952, line 1
Schedule E, line 19
See the Partner's Instructions
Schedule A, line 23
Schedule A, line 28
Schedule A, line 1 or Form 1040, line 29
See the Partner's Instructions
Form 2441, line 12
See the Partner's Instructions
See Form 8582 Instructions
See the Partner's Instructions
See the Partner's Instructions
See Form 8903 Instructions
Form 8903, line 7b
Form 8903, line 17
See the Partner's Instructions
Note. If you have a section 179 deduction or any partner-level deductions, see
the Partner's Instructions before completing Schedule SE.
B
C
15.
Net earnings (loss) from
self-employment
Gross farming or fishing income
Gross non-farm income
Credits
A
B
C
D
E
F
G
H
I
111262
11-04-11
Low-income housing credit
(section 42(j)(5)) from pre-2008
buildings
Low-income housing credit (other)
from pre-2008 buildings
Low-income housing credit (section
42(j)(5)) from post-2007 buildings
Low-income housing credit (other)
from post-2007 buildings
Qualified rehabilitation expenditures
(rental real estate)
Other rental real estate credits
Other rental credits
Undistributed capital gains credit
Alcohol and cellulosic biofuel fuels
credit
Foreign transactions
A Name of country or U.S.
possession
B Gross income from all sources
C Gross income sourced at partner
level
Foreign gross income sourced at partnership level
D Passive category
E General category
F Other
Schedule SE, Section A or B
See the Partner's Instructions
See the Partner's Instructions
p
n
n
n
n
n
m
n
n
n
n
o
See the Partner's Instructions
Form 1040, line 71; check box a
See the Partner's Instructions
See the Partner's Instructions
Form 1040, line 62
See the Partner's Instructions
p
m
o
p
m
o
Form 1116, Part I
Form 1116, Part I
Deductions allocated and apportioned at partner level
G Interest expense
Form 1116, Part I
H Other
Form 1116, Part I
p
m
o
Deductions allocated and apportioned at partnership level to foreign source
income
I
Passive category
Form 1116, Part I
J General category
K Other
Other information
L Total foreign taxes paid
M Total foreign taxes accrued
N Reduction in taxes available for credit
O Foreign trading gross receipts
P Extraterritorial income exclusion
Q Other foreign transactions
See the Partner's Instructions
Self-employment earnings (loss)
A
16.
p
n
m
n
o
Report on
17.
Alternative minimum tax (AMT) items
A Post-1986 depreciation adjustment
B Adjusted gain or loss
C Depletion (other than oil & gas)
D Oil, gas, & geothermal - gross income
E Oil, gas, & geothermal - deductions
F Other AMT items
18.
Tax-exempt income and nondeductible expenses
A Tax-exempt interest income
B Other tax-exempt income
C Nondeductible expenses
19.
Distributions
A Cash and marketable securities
B Distribution subject to section 737
C Other property
20.
Other information
A Investment income
B Investment expenses
C Fuel tax credit information
D Qualified rehabilitation expenditures
(other than rental real estate)
E Basis of energy property
F Recapture of low-income housing
credit (section 42(j)(5))
G Recapture of low-income housing
credit (other)
H Recapture of investment credit
I
Recapture of other credits
J Look-back interest - completed
long-term contracts
K Look-back interest - income forecast
method
L Dispositions of property with
section 179 deductions
M Recapture of section 179 deduction
N Interest expense for corporate partners
O Section 453(l)(3) information
P Section 453A(c) information
Q Section 1260(b) information
R Interest allocable to production
expenditures
S CCF nonqualified withdrawals
T Depletion information - oil and gas
U Amortization of reforestation costs
V Unrelated business taxable income
W Precontribution gain (loss)
X Section 108(i) information
Y Other information
Form 1116, Part II
Form 1116, Part II
Form 1116, line 12
Form 8873
Form 8873
See the Partner's Instructions
p
n
m
n
o
See the Partner's
Instructions and
the Instructions for
Form 6251
Form 1040, line 8b
See the Partner's Instructions
See the Partner's Instructions
p
m
o
See the Partner's Instructions
Form 4952, line 4a
Form 4952, line 5
Form 4136
See the Partner's Instructions
See the Partner's Instructions
Form 8611, line 8
Form 8611, line 8
See Form 4255
See the Partner's Instructions
See Form 8697
p
n
n
n
n
n
m
n
n
n
n
o
See Form 8866
See the Partner's
Instructions
2
2
Illinois Department of Revenue
Schedule K-1-P
To be completed by partnerships filing Form IL-1065 or S corporations filing Form IL-1120-ST
Partners and Shareholders receiving Schedule K-1-P should attach this to their Illinois tax return.
Step 1:
Year ending
12
11
Partner's or Shareholder's Share of Income,
Deductions, Credits, and Recapture
Month
Year
IL Attachment No. 10
Identify your partnership or S corporation
1 Check your business type
X
partnership
S corporation
3
20-5800820
Write your federal employer identification number (FEIN).
2
ASCENDANCE MANAGER I LLC
4
Write your name as shown on your Form IL-1065 or Form IL-1120-ST.
Step 2:
5
IL-1120-ST, Line 42. Otherwise, write "1."
TRANSCENDANCE INVESTORS LLC
7
26-0328292
Social Security number or FEIN
200 W MADISON STREET SUITE 3200
8
Mailing address
38.8900000
Share (%)
CHICAGO, IL 60606
City
Step 3:
State
ZIP
9 Check the appropriate box
individual
X partnership
corporation
S corporation
trust
estate
Figure your partner's or shareholder's share of your nonbusiness income
A
Member's share
(See instructions.)
10
11
12
13
14
15
16
17
18
19
1.000000
Identify your partner or shareholder
Name
6
Write the apportionment factor from Form IL-1065 or Form
Interest
Dividends
Rental income
Patent royalties
Copyright royalties
Other royalty income
Capital gain or loss from real property
Capital gain or loss from tangible personal property
Capital gain or loss from intangible personal property
Other income and expense
B
Member's
share allocable to Illinois
10
11
12
13
14
15
16
17
18
19
Specify
Step 4:
Figure your partner's or shareholder's share of your business income (loss)
A
Member's share
from U.S. Schedule K-1,
less nonbusiness income
20
21
22
23
24
25
26
27
28
29
30
31
Ordinary income (loss) from trade or business activity
Net income (loss) from rental real estate activities
Net income (loss) from other rental activities
Interest
Dividends
Royalties
Net short-term capital gain (loss)
Net long-term capital gain (loss). Total for year.
Unrecaptured Section 1250 gain
Guaranteed payments to partner (U.S. Form 1065 only)
Net Section 1231 gain (loss) (other than casualty or theft). Total for year.
Other income and expense
20
21
22
23
24
25
26
27
28
29
30
31
B
Member's
share apportioned to Illinois
13,134.
-11,350.
13,134.
-11,350.
185.
185.
Specify
Schedule K-1-P page 1 (R-12/11)
ID: 2BX
149131
12-27-11
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
information is REQUIRED. Failure to provide this information could result in a penalty.
2
Write the partner's or shareholder's identification number from Line 7.
Step 5:
32
33
34
35
36
37
Figure your partner's or shareholder's share of Illinois additions and subtractions
A
Additions
Federally tax-exempt interest income
Illinois replacement tax deducted
Illinois Special Depreciation addition
Related-Party Expenses addition
Distributive share of additions
Other additions (from Illinois Schedule M for businesses)
Subtractions
38 a Interest from U.S. Treasury obligations (business income)
b Interest from U.S. Treasury obligations (nonbusiness income)
39 a Enterprise Zone Dividend Subtraction
b River Edge Redevelopment Zone Dividend Subtraction
40 High Impact Business Dividend subtraction
41 Contribution subtraction (Form IL-1120-ST filers only)
42 Form IL-1120-ST financial organizations only:
a Enterprise Zone Interest Subtraction
b River Edge Redevelopment Zone Interest Subtraction
43 Interest subtraction - High Impact Business within a Foreign
Trade Zone (Form IL-1120-ST financial
organizations only)
44 Illinois Special Depreciation subtraction
45 Related-Party Expenses subtraction
46 Distributive share of subtractions
47 Other subtractions (from Illinois Schedule M for businesses)
Step 6:
B
Member's share from
Form IL-1065 or IL-1120-ST
Member's share apportioned
or allocated to Illinois
32
33
34
35
36
37
38a
38b
39a
39b
40
41
42a
42b
43
44
45
46
47
3,996.
3,996.
Figure your partner's or shareholder's (except a corporate partner or shareholder)
A
share of your Illinois August 1, 1969, appreciation amounts
Member's share
from Illinois Schedule F
(Form IL-1065 or IL-1120-ST)
48
49
50
51
Section 1245 and 1250 gain
Section 1231 gain
Section 1231 gain less casualty and theft gain. See instructions.
Capital gain
Step 7:
52
a
b
c
d
e
f
g
h
i
j
k
B
Member's share
apportioned or
allocated to Illinois
48
49
50
51
Figure your partner's or shareholder's share of your Illinois credits, recapture, and
pass-through entity payments
Illinois credits
Film Production Services Tax Credit
Enterprise Zone Investment Credit
River Edge Redevelopment Zone
Investment Credit
Tax Credit for Affordable
Housing Donations
EDGE Tax Credit
Research and Development Credit
Ex-felons Jobs Credit
Veterans Jobs Credit
Student-Assistance
Contribution Credit
Angel Investment Tax Credit
New Markets Credit
Member's or nonresident
member's share from
Illinois tax return
52a
52b
52c
52d
52e
52f
52g
52h
52i
52j
52k
52 Illinois credits (cont.)
l River Edge Historic
Preservation Credit
m Live Theater Production Credit
n Historic Preservation Credit
o Replacement Tax Investment
Credits. See instructions.
53 Recapture
a Enterprise Zone or River
Edge Redevelopment Zone
Investment Credit
b Replacement Tax Investment
Credit recapture
54 Payments (See instructions)
a Pass-through entity payment.
b Composite return payment.
Member's or nonresident
member's share from
Illinois tax return
52l
52m
52n
52o
53a
53b
54a
54b
Schedule K-1-P page 2 (R-12/11)
ID: 2BX
149132 12-27-11
2