721 UPREIT PROS | CASH-TAX RESERVE WORKSHEET
September 25, 2026. General education, not a tax-return calculation.

Holding/entity and unit class:
Tax year and ownership dates:
As-of date / estimate or final:
Sponsor estimate contact and expected delivery date:

1. Tax inputs supplied to preparer
K-1 and attachments:
State schedules:
Income estimate and source date:
Outside-basis schedule maintained separately:
Open questions / person responsible / follow-up date:

2. Cash reconciliation
Actual deposits:
Reinvestment (not currently spendable cash):
Withholding records supplied to preparer:
Amount already spent or committed:
Distribution cash still reserved and accessible:
Separate outside tax reserve (no double counting):

3. CPA remaining-funding projection
Amount AFTER credits and prior payments considered by CPA:
Jurisdictions and payment dates:
Assumptions / changes that require a refresh:

4. Funding comparison
Remaining projected tax funding:
Less accessible reserved cash counted once:
Additional funding needed (minimum zero):
Outside funding source / transfer lead time:
Date CPA confirms next review:

Hypothetical example: $8,000 remaining projected tax funding less $6,000
reserved accessible cash = $2,000 funding gap. A separate $30,000 income
allocation is NOT the tax bill. No tax rate or sponsor outcome is assumed.
Do not count reinvested amounts or an unsettled redemption as available cash.

Agreement check: tax distribution required/discretionary/absent?
Clause / unit class / formula / assumed rates / timing / restrictions:
Is it credited against other distributions? How are true-ups handled?

Article: https://721upreitpros.com/articles/721-upreit-taxable-income-without-cash