Income tax Basis Net Income and Partners' Capital

12 Months Ended

Dec. 31, 2012

Income Tax Basis Net Income and Partners' Capital [Abstract]

Income Tax Basis Net Income and Partners' Capital

INCOME TAX BASIS NET INCOME AND PARTNERS' CAPITAL

A reconciliation of the Partnership's financial statement net loss to net loss presented in accordance with the federal income tax basis of accounting is as follows for the years ended December 31, 2012, 2011, and 2010:



	2012			2011			2010
Financial statement net loss	$	(171,897	)	$	(42,686	)	$	(248,591	)
Adjustments in net income (loss) resulting from:
Depreciation expense for financial reporting purposes greater than amounts for income tax purposes	21,894			17,490			13,625
Amortization expense for financial reporting purposes less than amounts for income tax purposes	—			(44,350		)	—
Rental income accrued for financial reporting purposes less than amounts for income tax purposes	46,310			5,491			27,630
Gains on sale of properties for financial reporting purposes in excess of income tax purposes	—			(475,871		)	(16,368		)
Impairment losses taken for financial reporting purposes in excess of amounts for income tax purposes	—			—			127,278
Other	(15,247		)	(36,562		)	23,975
Income tax basis net loss	$	(118,940	)	$	(576,488	)	$	(72,451	)

A reconciliation of the partners' capital balances, as presented in the accompanying financial statements, to partners' capital balances, as presented in accordance with the federal income tax basis of accounting, is as follows for the years ended December 31, 2012, 2011, and 2010:



	2012			2011			2010
Financial statement partners' capital	$	2,741,260		$	2,913,157		$	2,955,843
Increase (decrease) in partners' capital resulting from:
Accumulated meals and entertainment	556			556			556
Accumulated bad debt expense, net, for financial reporting purposes in excess of amounts for income tax purposes	86			86			86
Accumulated depreciation expense for financial reporting purposes greater than amounts for income tax purposes	1,069,453			1,047,559			1,030,069
Amortization expense for financial reporting purposes less than amounts for income tax purposes	(44,350		)	(44,350		)	—
Capitalization of syndication costs for income tax purposes, which are accounted for as cost of capital for financial reporting purposes	2,035,389			2,035,389			2,035,389
Accumulated rental income accrued for financial reporting purposes greater than amounts for income tax purposes	(210,217		)	(256,527		)	(262,018		)
Accumulated expenses deductible when paid for income tax purposes less than amounts accrued for financial reporting purposes	1,981			1,981			1,981
Accumulated gains on sale of properties for financial reporting purposes in excess of amounts for income tax purposes	(984,190		)	(984,190		)	(508,319		)
Accumulated impairment losses taken for financial reporting purposes in excess of amounts for income tax purposes	1,433,135			1,433,135			1,433,135
Equity adjustment for South Carolina nonresident withholding tax treated as a distribution for income tax purposes	(38,021		)	(38,021		)	(38,021		)
Other	(79,939		)	(64,692		)	(28,130		)
Income tax basis partners' capital	$	5,925,143		$	6,044,083		$	6,620,571

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 136, 172

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43, 44, 45, 46, 47, 48, 49

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

WELLS REAL ESTATE FUND XI L P 10-K