River City Partnership   Tax I.D. 47-0822299               05/06/06

               Distribution of Earnings from January  1, 2006 to December 31, 2006

 

                                             FEDERAL   SHORT TERM MID TRM  LONG TRM  MISC.    FOREIGN        VALUATION

                                    TAXABLE  TAX FREE   CAPITAL   CAPITAL   CAPITAL INCOME/   TAXES     NET     UNITS

     NO.        NAME      DIVIDENDS INTEREST INTEREST    GAINS     GAINS     GAINS  EXPENSE   PAID    PROFIT PURCHASED

     =================================================================================================================

     TOTAL INCOME            35.80     1.05     0.00     46.04      0.00   -171.78    -3.88    0.00    -92.77

 

     WITHDRAWALS DURING THE PERIOD

      1 Clay & Jackie Hil     3.95     0.00     0.00      0.00      0.00      0.00     2.76    0.00      6.71

      2 Jim & Mary Nichol     0.00     0.00     0.00      0.00      0.00      0.00     0.00    0.00      0.00

      3 Thomas O'Hara         0.00     0.00     0.00     12.08      0.00      0.00     0.00    0.00     12.08

      4 Connie Schaffer       0.00     0.00     0.00      9.88      0.00      0.00     0.00    0.00      9.88

      5 Bill Schaffer         0.00     0.00     0.00      9.40      0.00      0.00     0.00    0.00      9.40

      6 Patrick Schaffer      0.00     0.00     0.00      0.00      0.00      0.00     0.00    0.00      0.00

 

     BALANCE TO BE DISTR.    31.85     1.05     0.00     14.68      0.00   -171.78    -6.64    0.00   -130.84

 

     REMAINING INCOME DISTRIBUTION

      1 Jim & Mary Nichol     6.46     0.21     0.00      9.34      0.00    -34.84    -1.35    0.00    -20.18     0.00

      2 Thomas O'Hara         8.44     0.28     0.00      0.13      0.00    -45.54    -1.76    0.00    -38.45     0.00

      3 Connie Schaffer       6.97     0.23     0.00      0.19      0.00    -37.58    -1.45    0.00    -31.64     0.00

      4 Bill Schaffer         6.97     0.23     0.00      0.67      0.00    -37.59    -1.45    0.00    -31.17     0.00

      5 Patrick Schaffer      3.01     0.10     0.00      4.35      0.00    -16.23    -0.63    0.00     -9.40     0.00

                          -------- -------- -------- --------- --------- --------- -------- --------- ------- --------

      TOTAL DISTRIBUTED      35.80     1.05     0.00     46.04      0.00   -171.78    -3.88    0.00    -92.77     0.00

 

    Value of Unit before distribution            1.00

    Value of Unit after distribution             1.00


 

                                     River City Partnership                          05/06/06

                                 WITHDRAWAL DISTRIBUTION REPORT

 

                                    Full withdrawal by Clay & Jackie Hill on 03/15/06

 

                      Partner's Share of Income, Credits, Deductions, Etc. To Date

                               Federal  Short Term  Mid Term   Long Term                        Foreign

                    Taxable   Tax Free   Capital    Capital     Capital      Misc.     Misc.     Taxes 

           Divids  Interest   Interest     Gain       Gain        Gain      Income   Expense      Paid 

             3.95      0.00       0.00      0.00      0.00        0.00       7.37      -4.61      0.00

 

                                                Partner Information

           Fair Value Units Withdrawn                      Tax Basis prior to Distribution       1864.11

           (   2025.61 units x $  1.20/unit)     2433.24   Current Year Earnings/(Loss)             6.71

           Less Withdrawal Fee                     73.41   Adjusted Tax Basis                    1870.82

           Net Proceeds                          2359.83

                                                           Less Cash                             2359.83

           Cash                                  2359.83   Realized Gain/(Loss)                   489.01

           Total Distribution at Fair Value      2359.83

 

 

           This information is supplied for the partner's convenience using general and current tax laws.

           Due to individual interpretation and possible tax elections or tax changes, you may want

           to have a local CPA or tax advisor review this information when completing your personal tax returns.

           --------------------------------------------------------------------------------------------------


 

                                     Partial withdrawal by Thomas O'Hara on 05/15/06

 

                      Partner's Share of Income, Credits, Deductions, Etc. To Date

                               Federal  Short Term  Mid Term   Long Term                        Foreign

                    Taxable   Tax Free   Capital    Capital     Capital      Misc.     Misc.     Taxes 

           Divids  Interest   Interest     Gain       Gain        Gain      Income   Expense      Paid 

             0.00      0.00       0.00     12.08      0.00        0.00       0.00       0.00      0.00

 

                                                Partner Information

           Fair Value Units Withdrawn                      Tax Basis prior to Distribution       2228.54

           (   2336.13 units x $  1.18/unit)     2766.90   Current Year Earnings/(Loss)            12.08

           Less Withdrawal Fee                      0.00

           Net Proceeds                          2766.90

           Cash                                     0.00  

           Securities                            2766.90  

           Total Distribution at Fair Value       2766.90 

 

                                                 Securities Information

           Securities                     Holding                   Club's       Fair Mkt. Partner's Adj.

           Transferred                     Period      Shares     Cost Basis        Value  Basis in Stock

           Cardinal Health                06/27/02     7.000000       448.09       490.00       448.09

           Cardinal Health                07/15/02     8.000000       425.52       560.00       425.52

           General Dynamics               03/04/03    10.000000       310.99       638.90       310.99

           Walgreens                      07/06/04    15.000000       546.04       646.80       546.04

           Walgreens                      07/28/04    10.000000       381.19       431.20       381.19

                                                                    --------     --------     --------

              Totals                                                 2111.83      2766.90      2111.83

 

           This information is supplied for the partner's convenience using general and current tax laws.

           Due to individual interpretation and possible tax elections or tax changes, you may want

           to have a local CPA or tax advisor review this information when completing your personal tax returns.

           --------------------------------------------------------------------------------------------------


 

                                    Partial withdrawal by Connie Schaffer on 05/16/06

 

                      Partner's Share of Income, Credits, Deductions, Etc. To Date

                               Federal  Short Term  Mid Term   Long Term                        Foreign

                    Taxable   Tax Free   Capital    Capital     Capital      Misc.     Misc.     Taxes 

           Divids  Interest   Interest     Gain       Gain        Gain      Income   Expense      Paid 

             0.00      0.00       0.00      9.88      0.00        0.00       0.00       0.00      0.00

 

                                                Partner Information

           Fair Value Units Withdrawn                      Tax Basis prior to Distribution       1819.79

           (   1912.06 units x $  1.18/unit)     2264.64   Current Year Earnings/(Loss)             9.88

           Less Withdrawal Fee                      0.00

           Net Proceeds                          2264.64

           Cash                                     0.00  

           Securities                            2264.64  

           Total Distribution at Fair Value       2264.64 

 

                                                 Securities Information

           Securities                     Holding                   Club's       Fair Mkt. Partner's Adj.

           Transferred                     Period      Shares     Cost Basis        Value  Basis in Stock

           Coca-Cola                      04/05/01     9.000000       415.80       371.34       324.53

           Coca-Cola                      12/05/02    10.000000       463.49       412.60       360.59

           Johnson and Johnson            08/07/03    10.000000       511.19       579.10       446.75

           Johnson and Johnson            03/24/04    10.000000       495.40       579.10       432.95

           Wells Fargo                    09/02/05     5.000000       303.05       322.50       264.85

                                                                    --------     --------     --------

              Totals                                                 2188.93      2264.64      1829.67

 

           This information is supplied for the partner's convenience using general and current tax laws.

           Due to individual interpretation and possible tax elections or tax changes, you may want

           to have a local CPA or tax advisor review this information when completing your personal tax returns.

           --------------------------------------------------------------------------------------------------


 

                                     Partial withdrawal by Bill Schaffer on 05/17/06

 

                      Partner's Share of Income, Credits, Deductions, Etc. To Date

                               Federal  Short Term  Mid Term   Long Term                        Foreign

                    Taxable   Tax Free   Capital    Capital     Capital      Misc.     Misc.     Taxes 

           Divids  Interest   Interest     Gain       Gain        Gain      Income   Expense      Paid 

             0.00      0.00       0.00      9.40      0.00        0.00       0.00       0.00      0.00

 

                                                Partner Information

           Fair Value Units Withdrawn                      Tax Basis prior to Distribution       1819.78

           (   1818.51 units x $  1.17/unit)     2135.85   Current Year Earnings/(Loss)             9.40

           Less Withdrawal Fee                      0.00

           Net Proceeds                          2135.85

           Cash                                     0.00  

           Securities                            2135.85  

           Total Distribution at Fair Value       2135.85 

 

                                                 Securities Information

           Securities                     Holding                   Club's       Fair Mkt. Partner's Adj.

           Transferred                     Period      Shares     Cost Basis        Value  Basis in Stock

           Lowes                          08/07/03    10.000000       468.09       642.90       465.10

           Lowes                          03/24/04     5.000000       259.45       321.45       257.80

           Proctor & Gamble               03/03/05    15.000000       810.34       849.00       805.17

           Wells Fargo                    09/02/05     5.000000       303.04       322.50       301.11

                                                                    --------     --------     --------

              Totals                                                 1840.92      2135.85      1829.18

 

           This information is supplied for the partner's convenience using general and current tax laws.

           Due to individual interpretation and possible tax elections or tax changes, you may want

           to have a local CPA or tax advisor review this information when completing your personal tax returns.

           --------------------------------------------------------------------------------------------------


 

                                    Full withdrawal by Jim & Mary Nichols on 05/19/06

 

                      Partner's Share of Income, Credits, Deductions, Etc. To Date

                               Federal  Short Term  Mid Term   Long Term                        Foreign

                    Taxable   Tax Free   Capital    Capital     Capital      Misc.     Misc.     Taxes 

           Divids  Interest   Interest     Gain       Gain        Gain      Income   Expense      Paid 

             0.00      0.00       0.00      0.00      0.00        0.00       0.00       0.00      0.00

 

                                                Partner Information

           Fair Value Units Withdrawn                      Tax Basis prior to Distribution       1670.30

           (   1814.28 units x $  1.17/unit)     2121.54   Current Year Earnings/(Loss)             0.00

           Less Withdrawal Fee                      0.00   Adjusted Tax Basis                    1670.30

           Net Proceeds                          2121.54

                                                           Less Cash                             2121.54

           Cash                                  2121.54   Realized Gain/(Loss)                   451.24

           Total Distribution at Fair Value      2121.54

 

 

           This information is supplied for the partner's convenience using general and current tax laws.

           Due to individual interpretation and possible tax elections or tax changes, you may want

           to have a local CPA or tax advisor review this information when completing your personal tax returns.

           --------------------------------------------------------------------------------------------------


 

                                      Full withdrawal by Thomas O'Hara on 05/19/06

 

                      Partner's Share of Income, Credits, Deductions, Etc. To Date

                               Federal  Short Term  Mid Term   Long Term                        Foreign

                    Taxable   Tax Free   Capital    Capital     Capital      Misc.     Misc.     Taxes 

           Divids  Interest   Interest     Gain       Gain        Gain      Income   Expense      Paid 

             0.00      0.00       0.00      0.00      0.00        0.00       0.00       0.00      0.00

 

                                                Partner Information

           Fair Value Units Withdrawn                      Tax Basis prior to Distribution        128.92

           (     25.17 units x $  1.17/unit)       29.43   Current Year Earnings/(Loss)             0.00

           Less Withdrawal Fee                      0.00   Adjusted Tax Basis                     128.92

           Net Proceeds                            29.43

                                                           Less Cash                               29.43

           Cash                                    29.43   Realized Gain/(Loss)                   -99.49

           Total Distribution at Fair Value        29.43

 

 

           This information is supplied for the partner's convenience using general and current tax laws.

           Due to individual interpretation and possible tax elections or tax changes, you may want

           to have a local CPA or tax advisor review this information when completing your personal tax returns.

           --------------------------------------------------------------------------------------------------


 

                                     Full withdrawal by Connie Schaffer on 05/19/06

 

                      Partner's Share of Income, Credits, Deductions, Etc. To Date

                               Federal  Short Term  Mid Term   Long Term                        Foreign

                    Taxable   Tax Free   Capital    Capital     Capital      Misc.     Misc.     Taxes 

           Divids  Interest   Interest     Gain       Gain        Gain      Income   Expense      Paid 

             0.00      0.00       0.00      0.00      0.00        0.00       0.00       0.00      0.00

 

                                                Partner Information

           Fair Value Units Withdrawn                      Tax Basis prior to Distribution        -35.31

           (     36.85 units x $  1.17/unit)       43.09   Current Year Earnings/(Loss)             0.00

           Less Withdrawal Fee                      0.00   Adjusted Tax Basis                     -35.31

           Net Proceeds                            43.09

                                                           Less Cash                               43.09

           Cash                                    43.09   Realized Gain/(Loss)                    78.40

           Total Distribution at Fair Value        43.09

 

 

           This information is supplied for the partner's convenience using general and current tax laws.

           Due to individual interpretation and possible tax elections or tax changes, you may want

           to have a local CPA or tax advisor review this information when completing your personal tax returns.

           --------------------------------------------------------------------------------------------------


 

                                      Full withdrawal by Bill Schaffer on 05/19/06

 

                      Partner's Share of Income, Credits, Deductions, Etc. To Date

                               Federal  Short Term  Mid Term   Long Term                        Foreign

                    Taxable   Tax Free   Capital    Capital     Capital      Misc.     Misc.     Taxes 

           Divids  Interest   Interest     Gain       Gain        Gain      Income   Expense      Paid 

             0.00      0.00       0.00      0.00      0.00        0.00       0.00       0.00      0.00

 

                                                Partner Information

           Fair Value Units Withdrawn                      Tax Basis prior to Distribution        -11.07

           (    130.82 units x $  1.17/unit)      152.97   Current Year Earnings/(Loss)             0.00

           Less Withdrawal Fee                      0.00   Adjusted Tax Basis                     -11.07

           Net Proceeds                           152.97

                                                           Less Cash                              152.97

           Cash                                   152.97   Realized Gain/(Loss)                   164.04

           Total Distribution at Fair Value       152.97

 

 

           This information is supplied for the partner's convenience using general and current tax laws.

           Due to individual interpretation and possible tax elections or tax changes, you may want

           to have a local CPA or tax advisor review this information when completing your personal tax returns.

           --------------------------------------------------------------------------------------------------


 

                                     Full withdrawal by Patrick Schaffer on 05/19/06

 

                      Partner's Share of Income, Credits, Deductions, Etc. To Date

                               Federal  Short Term  Mid Term   Long Term                        Foreign

                    Taxable   Tax Free   Capital    Capital     Capital      Misc.     Misc.     Taxes 

           Divids  Interest   Interest     Gain       Gain        Gain      Income   Expense      Paid 

             0.00      0.00       0.00      0.00      0.00        0.00       0.00       0.00      0.00

 

                                                Partner Information

           Fair Value Units Withdrawn                      Tax Basis prior to Distribution       1015.37

           (    845.39 units x $  1.17/unit)      988.56   Current Year Earnings/(Loss)             0.00

           Less Withdrawal Fee                      0.00   Adjusted Tax Basis                    1015.37

           Net Proceeds                           988.56

                                                           Less Cash                              988.56

           Cash                                   988.56   Realized Gain/(Loss)                   -26.81

           Total Distribution at Fair Value       988.56

 

 

           This information is supplied for the partner's convenience using general and current tax laws.

           Due to individual interpretation and possible tax elections or tax changes, you may want

           to have a local CPA or tax advisor review this information when completing your personal tax returns.

           --------------------------------------------------------------------------------------------------