7. Taxable Inome: 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	$       (541,227)	$    (2,233,475)
Add (less) net transactions occurring between
January 1, 2014 and March 30, 2014	--	(48,016)
January 1, 2015 and March 30, 2015	(46,752)	46,752
January 1, 2016 and March 30, 2016	306,378	--
Adjusted financial statement net loss for the years ended December 31, 2015 and 2014	(281,601)	(2,234,739)
Management Fees deductible for tax purposes when paid	123,537	(125,281)
Equity in income (loss) of investment in local partnerships	(224,196)	2,032,373
Gain (loss) on sale of limited partner interests/local partnership properties	1,014,482	960,308
Write-off of Advances for tax purposes	--	(6,092)
Other income from local partnerships	(13,562)	(3,000)
Tax return income for the years ended December 31, 2015 and 2014	$        618,660	$        623,569