Note 4 - Income Taxes: Reconciliation of Book Net Income (Loss) to Federal Taxable Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2012

Tables/Schedules

Reconciliation of Book Net Income (Loss) to Federal Taxable Income (Loss)

	Years Ended December 31,
	2012	2011
	(in thousands)
Net income per financial statements	$ 1,437	$    39
Add (deduct):
Partnership’s share of Local Limited Partnerships	145	91
Gain	(694)	261
Other	36	1
Federal taxable income	$   924	$   392
Federal taxable income per limited partnership interest	$139.78	$ 59.25