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Note 5 - Partnership Income Taxes	3 Months Ended
Mar. 31, 2015
Notes
Note 5 - Partnership Income Taxes	Note 5 – Partnership Income Taxes The Partnership was subject to a New Jersey tax based upon the number of resident and non-resident limited partners and apportionment of income related to the Partnership’s investment in certain Local Partnerships. During the year ended December 31, 2012, the Partnership paid approximately $66,000 as a required deposit for estimated 2012 New Jersey taxes, which was based on half of the previous year’s taxes. However, the Partnership’s estimate of the actual tax due for 2012 was approximately $12,000. The remaining balance paid of approximately $54,000 is reflected as other asset on the accompanying balance sheet at March 31, 2015 and 2014. As a result of the sale of Countryside during 2012, the Partnership is no longer subject to paying New Jersey taxes.

Note 5 - Partnership Income Taxes

3 Months Ended

Mar. 31, 2015

Note 5 – Partnership Income Taxes

The Partnership was subject to a New Jersey tax based upon the number of resident and non-resident limited partners and apportionment of income related to the Partnership’s investment in certain Local Partnerships. During the year ended December 31, 2012, the Partnership paid approximately $66,000 as a required deposit for estimated 2012 New Jersey taxes, which was based on half of the previous year’s taxes. However, the Partnership’s estimate of the actual tax due for 2012 was approximately $12,000. The remaining balance paid of approximately $54,000 is reflected as other asset on the accompanying balance sheet at March 31, 2015 and 2014. As a result of the sale of Countryside during 2012, the Partnership is no longer subject to paying New Jersey taxes.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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