Exhibit 4, Plaintiff's 2019-2020 IRS Form 1065 — Case 1:24-cv-00040-DAE, Document 20-4

Summary

Exhibit 4, filed April 29, 2024 as Document 20-4 in Case 1:24-cv-00040-DAE, reproducing the plaintiff's IRS Forms 1065, U.S. Return of Partnership Income, for Horseshoe Bay Resort Holdings, LLC of Horseshoe Bay, TX. The returns are for the 2019 and 2020 tax years and list resort operations with golf, food and beverage as the principal business, code 713900, started 07/05/2016. Line 16a depreciation is shown as 16,701,377 on the first return and 8,335,898 on the second. Both returns name BDO USA LLP of San Antonio as preparer.

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Case 1:24-cv-00040-DAE Document 20-4 Filed 04/29/24 Page1lof3

EXHIBIT 4

Plaintiff?s 2019-2020 IRS Form 1065
com 1065

Department of the Treasury
Internal Revenue Service

Case 1:24-cv-00040-DAE Document 20-4 Filed 04/29/24

U.S. Return of Partnership Income
For calendar year 2019, or tax year beginning , 2019, ending 03 [ 31 , 20 20

® Goto www.irs.gov/Form 1065 for instructions and the latest information.

Page 2 of 3

OMB No. 1545-0123

A Principal business actuity

NS

RESORT OPERATIO
S

| Name of partnership

|HORSESHOE BAY RESORT HOLDINGS, LLC

D Employer identification number

Number, street, and room or suite no. If a P.O. box, see instructions.

E Date —_ Started

B Principal proguct or service Type |

GOLF, FOOD, BEV or

eR print (220+ BOX 4449 07/05/2016
City or town, state or province, country, and ZIP or foreign postal code F Total assets

C Business code number

(see instruchons)

713900 [HORSESHOE BAY, TX 78657
G Check applicable boxes: (1) Initial return (2) } Final return (3) —
H Check accounting method: (1) Cash (2) _X]} Accrual (3) Other (specify) e

:
Name change (4) L_ | Address change (5) Amended return

| Number of Schedules K-1. Attach one for BESTS UAVS E TEVS Vo STIG ST S08 ‘ >

J Check if Schedules C and M-3 are attached
K Check if Partnership: (1) [_| Aggregated activities for section 465 at-risk purposes (2) | Grouped activities for section 469 passive activity purposes

LX)

Caution: Include only trade or business income and expenses on lines 1a through 22 below. See instructions for more information.

Income
©OAN DM OSwWhH

Mee,
"

Deductionsatga instructaqigtor lirmitatio

1a Gross receipts or sales
b Returns and allowances
c Balance. Subtract line 1b from line 1a

aaa 1b

=
°

Cost of goods sold (attach Form 1125-A)
Gross profit. Subtract line 2 from line 1c e
Ordinary income (loss) from other partnerships, estates, and trusts {altach statemeny SP P©
Net farm profit (loss) (attach Schedule F (Form 1040 or 1040-SR))

Net gain (loss) from Form 4797, Part Il (attach Form 4797 80000000000060

line 17

Other income (loss) (attach statement) Ss dadaeadadededededetedededeielete eee
. . . ea
Total income (loss). Combine lines 3 through 7 ee
Salaries and wages (other than to partners) (less employment credits

' wages ( CaS SSS SSCS SSeS cccccccccccce
Guaranteed payments to partners

. . aa)
Repairs and maintenance
Bad debt CT
Rent ct POTTTT TTT TTT TTT Te

Dao O\@|N| ola) alolry

a) ||

a
| |
a

j ; SCOOHOOHHSOHCOOOSEOCOOOCOOO e epe
Taxes and licenses
\ : ; ceeccccccccccccccocsesasennonagaypone
rigerest (see instructions) eceecoce

epreciation (if required, attach Form 4562) * 16a | 16,701,377.

Less depreciation reported on Form 1125-A and elsewhere on return

Mepletion (Do not deduct oil and gas depletion.)
SOSOSHCOKESOSOOSCOCOHOCOOSOOOCCE

16b

i8 | etirement plans, etc. ia :
. SOOO HOOOOOHOCHOOSOOCOOCOE eeee e —_
19 Employee benefit programs eneeeeeeseoosse e ose -
20 Other deductions (attach statement) $3434 SPRATT f. =
21 Total deductions. Add the amounts shown in the far right column for lines 9 through 20
22 Ordinary business income (loss). Subtract line 21 from line 8
+ | 23 Interest due under the look-back method - completed long-term contracts (attach Form 6627) _
© | 24 Interest due under the look-back method - income forecast method (atlach Form 3866 ° 24
E 25 BBA AAR imputed underpayment é¢ instructions), 25
o . . seesceeeeeeeeseeeoe
a| 26 Other taxes (see instructions) eocecccce
+ 27 Total balance due. Add lines 23 through 26
a . - SOOOSOOOOOOOECOOOOOOOCOO
x 28 Payment (see instructions) ee 28
£ 29 Amount owed, If line 28 is smaller than line 27, enter amount owed 29
30 Overpayment. If line 28 is larger than line 27, enter overpayment 30
Under penakies of perjury, | declare that 1 have examined this return, including accompanying schedules and statements, and to the best of my knowledge
and belief, it is true, correct, and complete. Declaration of preparer (other than partner or limited liability company member) is based on all information of
Sign which preparer has any knowledge.
H OFFICER priate teat this yeturn with
ere t ‘ reparer wn below?
e TAXPAYER COPY @ _12/15/2020 J" [xX] ves [_In
Signature of partner or limited liability company member Date ;
Paid Print/Type preparer's name Pregprer's signatu ee | Date Check |_| it PTIN
ANN M PENA SpA alte 12/15/2020} self-employed P|
Preparer Firmsname © BDO USA LL . Firm's EIN
Use Only | Fim’s aduress © 9901 IH-10, SUITE 500 Phone no.
SAN _ ANTONIO, TX 78230 210-342-8000

For Paperwork Reduction Act Notice, see separate instructions.

JSA

735%

File: 4 AHORSESHOE_BAY_RESORT_HOLDINGS_LLC_FED_RETURN_2019.pdf

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[2022/04/28 12:45:48]

B99T

Form 1065 (2019)

387 of 1667
Case 1:24-cv-00040-DAE Document 20-4 _ Filed 04/29/24 Page3of3

rom 1065 U.S. Return of Partnership Income OMB No. 1848:0128
Denartment ofthe Treasury| For etlendar year 2020, or tax year beginning 04/01 , 2020, ending 03/31 2021 . D 02 0
internal Revenue Service > Go to www.irs.gov/Form1065 tor instructions and the latest information.

A Prinopal business activity Name of partnership De

RESORT OPERATIO

| HORSESHOE BAY RESORT HOLDINGS, LLC

NS

B Principal product or service Type Number, street, and room or suite no. If a P.O. box, see instructions. / E Date business started
GOLF, FOOD, BEV or

ER Print -p--O-+—BOX 4449 07/05/2016
C Business code number City or town, state or province, country, and ZIP or foreign posial code F Total assets

(see instructions)

713900 |'HORSESHOE BAY, TX 78657 a 2.
G Check applicable boxes: (1) Fe Initial return (2) | Final return (3) S| Name change (4) Address change (5) Amended return

H Check accounting method: (1) Cash (2) Accrual (3) | Other (specify) >
1 Number of Schedules K-1. Attach one for each person who was a partner at any time during the tax year > 2
J Check if Schedules C andM-3 are attached. ©. 6 ee te ee ee ee ee ee PX |

K_Check if partnership: (1) L_] Aggregated activities for section 465 at-risk purposes (2) Grouped activities for section 469 passive activity purposes

Caution: Include only trade or business income and expenses on lines 1a through 22 below. See instructions for more information.

1a Gross receipts orsaleS.. 6... ee ee eee ee ees la | |
b Returns and allowances... 1. ee eee ee ee ee ee tb
c Balance. Subtract line 1b from line la 2... ee ee ee ee ee es 1c EE. a.
@| 2 Cost of goods sold (attach Form 1125-A). 2 6. eee ee ee ee ee ee ee es 2) L. i.
E| 3 Gross profit. Subtract line 2 from line 1C.. 6. ee ee eee eee ee ee eee eee eee 3 _wW 8
2} 4 Ordinary income (loss) from other partnerships, estates, and trusts (attach statement)STMT. 1! 4 a
=| 5 Net farm profit (loss) (attach Schedule F (Form 1040)). 2 6. 2 ce ee eee eee ee es
6 Net gain (loss) from Form 4797, Part Il, line 17 (attach Form 4797) . 2... ee ee ee eee
7 Other income (loss) (attach statement)... 2.5.65 ee eee SEE. STATEMENT. l. .
__} 8 Total income (loss). Combine lines 3 through 7. + + + +e ee ee ee ee ee sees
s 9 Salaries and wages (other than to partners) (less employment credits) re ee ee ee oe
s 10 Guaranteed payments topartners. 2. 6 ee ee ee ee eee ees
=| 11 Repairs and maintenance... 1... eee ee ee ee ee
S$} 12 Baddebts..... 2 ee ee ee eee eee Cover reer creer eer eneenevens
2/13 Rent... cee ee ee ee ee ee ee eee ee eee ee eee eens
| 14 Taxes andliicenses......- 2. ee eee eee nnneenee SEE. STATEMENT. l.- - |
3 15 Interest (see instructions)... ........22 2022 ee eee SEE. SIATEMENT. l..
g 16a Depreciation (if required, attach Form 4562)......... 16a 8,335,898.
o b Less depreciation reported on Form 1125-A and elsewhere on return| 16b | 16c
5 17 Depletion (Do not deduct oil and gas depletion.) .. © 2. ee ee ee es 17
3 18 Retirementplans, etc... 6... ee ee ee ee es 18
3/19 Employee benefit programs... 6. 6. ee ee ee ee ee ee 19
8 20 Other deductions (attach statement)... 6. eee ee ee ee SEE. STATEMENT. 2. . |.20
21 Total deductions. Add the amounts shown in the far right column for lines 9 through 20. . . | 21
22 Ordinary business income (loss). Subtract line 21 from line8 ....- - ee ee ee ee eee 22
~| 23 Interest due under the look-back method - completed long-term contracts (attach Form 8697). | 23
5 24 = Interest due under the look-back method - income forecast method (attach Form 8866) .. . . | 24
E 25 BBAAAR imputed underpayment (see instructions)... 6.6. ee eee ee ee ees 25
| 26 Other taxes (see instructions)... ee eee eee ee ee eee eee eee 26
B27 Total balance due. Add lines 23 through 26. ©... ee eee ee ee ee ees 27 |
S| 28 Payment (see instructions)... 2... 6 ee eee eee eee eee eee eee 28 | |
| 29 Amount owed. If line 28 is smaller than line 27, enter amount owed... 1.2 eee ee eeee 29 __ _
30 Overpayment. If line 28 is larger than line 27, enter overpayment. .......4....+.-- 30 |
Under penalties of perjury, | declare that | have examined this return, including accompanying schedules and statements, and to the best of my knowledge
. and belief, it is true, correct, and complete, Declaration of preparer (other than partner or limited liability company member) is based on all information of
Sign which ed has any knowl FFICER May the IRS mys ial with
oO the preparer shown below? §
ee CLIENT COPY: . ao]
Signature of partner or limited liability company member Date —
Paid 7 ve ropa name Preparers signature hoe | ven Crees [jig | PTIN
E on 4/2021 seit-enplyed P
Preparer (rimsname & BDO USA LLP liens CN a
Use Only Firm's address > 9901 IH-10, SUITE 500 Phone no.
SAN ANTONIO, TX 78230 210-342-8000
For Paperwork Reduction Act Notice, see separate instructions. Form 1065 (2020)

JSA OP 10

ME B99T 0301772
File: 4B_-HORSESHOE_BAY_RESORT_HOLDINGS_LLC_FED_FORM_1065_2020.pdf (2022/04/28 12:45:48] 600 of 1667

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