Note 6 - Income Taxes: Reconciliation of book Net Income (Loss) to Federal Taxable Net Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2012

Tables/Schedules

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

A reconciliation is as follows (in thousands, except per limited partnership interest data):
	Years Ended December 31,
	2012	2011
Net income (loss) per financial statements	$  13,015	$  (861)
Other	458	512
Gain on sale of interests in Local Limited Partnerships	2,462	--
Gain on extinguishment of debt	(13,609)	--
Partnership’s share of Local Limited Partnership	7,890	1,080
Net income per tax return	$  10,216	$   731
Net income per limited partnership interest	$ 1,305.32	$ 94.62