Note 4 - Income Taxes: Reconciliation of Net Assets (Liabilities) per book to Federal Tax basis Net Assets (Liabilities) (Tables)

12 Months Ended

Dec. 31, 2012

Tables/Schedules

Reconciliation of Net Assets (Liabilities) per book to Federal Tax basis Net Assets (Liabilities)

	2012	2011
	(in thousands)
Net assets as reported	$ 2,577	$ 1,140
Differences in basis of assets and liabilities:
Investment in Local Limited Partnerships	(2,374)	(1,826)
Syndication costs	3,565	3,565
Other	568	532
Net assets - tax basis	$ 4,336	$ 3,411