Note 5 - 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)

A reconciliation between the Partnership’s reported net income and the net income (loss) per tax return follows (in thousands, except per limited partnership interest):
	Years Ended December 31,
	2012	2011
Net income per financial statements	$ 3,300	$   536
Sale of partnership interest	(3,612)	5,513
Other	(177)	(90)
Investment in Local Partnerships	(289)	(496)
Net income (loss) per tax return	$  (778)	$ 5,463
Net income (loss) per limited partnership interest	$ (53.36)	$343.46