7. Taxable Income: Reconciliation of Financial Statement Net Loss to the Tax Return Income (Tables)

12 Months Ended

Mar. 30, 2016

Tables/Schedules

Reconciliation of Financial Statement Net Loss to the Tax Return Income

	2016	2015
Financial statement net loss for the years ended March 30, 2016 and 2015	$        (29,191)	$        (98,382)
Add (less) net transactions occurring between
January 1, 2014 and March 30, 2014	--	117,510
January 1, 2015 and March 30, 2015	(34,658)	34,658
January 1, 2016 and March 30, 2016	(72,175)	--
Adjusted financial statement net income (loss) for the years ended December 31, 2015 and 2014	(136,024)	53,786
Management Fees and Administration Fees deductible for tax purposes when paid	88,477	(161,024)
Equity in income (loss) of investment in local partnerships	(475,518)	1,336,561
Gain on sale of limited partner interests/local partnership properties	3,326,944	7,463,243
Other income from local partnerships	(14,507)	(160,923)
Other differences	251	--
Tax return income for the years ended December 31, 2015 and 2014	$ 2,789,623	$ 8,531,643