10-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended March 31, 2018

¨   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______

Commission file number        0-26200

BOSTON CAPITAL TAX CREDIT FUND IV L.P.

(Exact name of registrant as specified in its charter)

Delaware	04-3208648
(State or other jurisdiction	(I.R.S. Employer
of incorporation or organization)	Identification No.)

One Boston Place, Suite 2100, Boston, Massachusetts    02108

(Address of principal executive offices)           (Zip Code)

Registrant’s telephone number, including area code (617)624-8900

Securities registered pursuant to Section 12(b) of the Act:

Title of each class - Name of each exchange on which registered

None

Securities registered pursuant to Section 12(g) of the Act:

Title of class

Beneficial Assignee Certificates

Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ¨ No x

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

Yes ¨ No x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ¨	Accelerated Filer ¨
Non-accelerated filer ¨ (Do not check if a smaller reporting company)
	Smaller Reporting Company x
	Emerging Growth Company  ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ¨ No x

DOCUMENTS INCORPORATED BY REFERENCE

None.

BOSTON CAPITAL TAX CREDIT FUND IV L.P.

FORM 10-K ANNUAL REPORT FOR THE YEAR ENDED MARCH 31, 2018

TABLE OF CONTENTS

	PART I
Item 1.	Business	1
Item 1A.	Risk Factors	3
Item 1B.	Unresolved Staff Comments	5
Item 2.	Properties	5
Item 3.	Legal Proceedings	35
Item 4.	Mine Safety Disclosures	35
	PART II
Item 5.	Market for the Fund's Limited Partnership Interests and Related Partner Matters and Issuer Purchases of Partnership Interests	36
Item 6.	Selected Financial Data	39
Item 7.	Management's Discussion and Analysis of Financial Condition and Results of Operations	39
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	99
Item 8.	Financial Statements and Supplementary Data	99
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	99
Item 9A.	Controls and Procedures	99
Item 9B.	Other Information	100
	PART III
Item 10.	Directors, Executive Officers and Corporate Governance of the Fund	101
Item 11.	Executive Compensation	103
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Partner Matters	103
Item 13.	Certain Relationships and Related Transactions, and Director  Independence	104
Item 14.	Principal Accountant Fees and Services	105
	PART IV
Item 15.	Exhibits and Financial Statement Schedules	109
Item 16.	Form 10-K Summary	115
	Signatures	116

PART I

Item 1. Business

Organization

Boston Capital Tax Credit Fund IV L.P. (the "Fund") is a limited partnership formed under the Delaware Revised Uniform Limited Partnership Act as of October 5, 1993. Effective as of June 1, 2001 there was a restructuring, and as a result, the Fund's general partner was reorganized as follows. The general partner of the Fund continues to be Boston Capital Associates IV L.P., a Delaware limited partnership. The general partner of the Fund’s general partner is now BCA Associates Limited Partnership, a Massachusetts limited partnership, whose sole general partner is C&M Management, Inc., a Massachusetts corporation. John P. Manning is the principal executive officer of C&M Management, Inc. The limited partner of the Fund’s general partner is Capital Investment Holdings, a general partnership whose partners are various officers and employees of Boston Capital Partners, Inc., and its affiliates. The assignor limited partner is BCTC IV Assignor Corp., a Delaware corporation which is now wholly-owned by John P. Manning.

The assignor limited partner was formed for the purpose of serving in that capacity for the Fund and will not engage in any other business. Units of beneficial interest in the limited partnership interest of the assignor limited partner are assigned by the assignor limited partner by means of beneficial assignee certificates ("BACs") to investors and investors are entitled to all the rights and economic benefits of a limited partner of the Fund including rights to a percentage of the income, gains, losses, deductions, credits and distributions of the Fund.

A Registration Statement on Form S-11 and the related prospectus, (together with each subsequently filed prospectus, the "Prospectus") were filed with the Securities and Exchange Commission and became effective December 16, 1993, in connection with a public offering (together with each subsequent offering of BACs described herein, the "Offering") in one or more series of a minimum of 250,000 BACs and a maximum of 30,000,000 BACs at $10 per BAC. On April 18, 1996, a Form S-11, which registered an additional 10,000,000 BACs for sale to the public in one or more series, became effective. On April 2, 1998, a Form S-11, which registered an additional 25,000,000 BACs for sale to the public in one or more series, became effective. On August 31, 1999, a Form S-11, which registered an additional 8,000,000 BACs for sale to the public, became effective. On July 26, 2000, a Form S-11, which registered an additional 7,500,000 BACs for sale to the public, became effective. On July 23, 2001, a Form S-11, which registered an additional 7,000,000 BACs for sale to the public, became effective. On July 24, 2002, a Form S–11, which registered an additional 7,000,000 BAC’s for sale to the public, became effective. On July 1, 2003, a Form S–11, which registered an additional 7,000,000 BAC’s for sale to the public, became effective. As of March 31, 2018, subscriptions had been received and accepted by the General Partner in Series 20, Series 21, Series 22, Series 23, Series 24, Series 25, Series 26, Series 27, Series 28, Series 29, Series 30, Series 31, Series 32, Series 33, Series 34, Series 35, Series 36, Series 37, Series 38, Series 39, Series 40, Series 41, Series 42, Series 43 Series 44, Series 45 and Series 46 for 83,651,080 BACs in twenty-seven series representing capital contributions of $836,177,880 in the aggregate.

1

Description of Business

The Fund's principal business is to invest as a limited partner in other limited partnerships (the "Operating Partnerships") each of which will own or lease and will operate an apartment complex exclusively or partially for low- and moderate-income tenants. Each Operating Partnership in which the Fund invests owns apartment complexes, which are completed, newly-constructed, under construction or rehabilitation, or to-be constructed or rehabilitated, and which are expected to receive government assistance. Each apartment complex is expected to qualify for the low-income housing tax credit under Section 42 of the Code (the "Federal Housing Tax Credit"), providing tax benefits over a period of ten to twelve years in the form of tax credits which investors may use to offset income, subject to certain strict limitations, from other sources. Some apartment complexes may also qualify for the historic rehabilitation tax credit under Section 47 of the Code (the "Rehabilitation Tax Credit"). Section 236 (f) (ii) of the National Housing Act, as amended, and Section 101 of the Housing and Urban Development Act of 1965, as amended, each provide for the making by HUD of rent supplement payments to low income tenants in properties which receive other forms of federal assistance such as tax credits. The payments for each tenant, which are made directly to the owner of their property, generally are in such amounts as to enable the tenant to pay rent equal to 30% of the adjusted family income. Some of the apartment complexes in which the Fund has invested are receiving their rent supplements from HUD. HUD has been in the process of converting rent supplement assistance to assistance paid not to the owner of the apartment complex, but directly to the individuals. At this time, the Fund is unable to predict whether Congress will continue rent supplement programs payable directly to owners of apartment complexes.

As of March 31, 2018 the Fund had invested in 2 Operating Partnerships on behalf of Series 20, 0 Operating Partnerships on behalf of Series 21, 3 Operating Partnerships on behalf of Series 22, 3 Operating Partnerships on behalf of Series 23, 5 Operating Partnerships on behalf of Series 24, 0 Operating Partnerships on behalf of Series 25, 9 Operating Partnerships on behalf of Series 26, 3 Operating Partnerships on behalf of Series 27, 5 Operating Partnerships on behalf of Series 28, 7 Operating Partnerships on behalf of Series 29, 5 Operating Partnerships on behalf of Series 30, 8 Operating Partnerships on behalf of Series 31, 6 Operating Partnerships on behalf of Series 32, 3 Operating Partnerships on behalf of Series 33, 4 Operating Partnerships on behalf of Series 34, 2 Operating Partnerships on behalf of Series 35, 3 Operating Partnerships on behalf of Series 36, 1 Operating Partnership on behalf of Series 37, 4 Operating Partnerships on behalf of Series 38, 0 Operating Partnerships on behalf of Series 39, 9 Operating Partnerships on behalf of Series 40, 12 Operating Partnerships on behalf of Series 41, 11 Operating Partnerships on behalf of Series 42, 17 Operating Partnerships on behalf of Series 43, 7 Operating Partnerships on behalf of Series 44, 26 Operating Partnerships on behalf of Series 45 and 14 Operating Partnerships on behalf of Series 46. A description of these Operating Partnerships is set forth in Item 2 herein.

2

The business objectives of the Fund are to:

(1) Provide current tax benefits to investors in the form of Federal Housing Tax Credits and, in limited instances, a small amount of Rehabilitation Tax Credits, which an investor may apply, subject to strict limitations, against the investor's federal income tax liability from active, portfolio and passive income;

(2) Preserve and protect the Fund's capital and provide capital appreciation and cash distributions through increases in value of the Fund's investments and, to the extent applicable, equity buildup through periodic payments on the mortgage indebtedness with respect to the apartment complexes;

(3) Provide tax benefits in the form of passive losses which an investor may apply to offset his passive income (if any); and

(4) Provide cash distributions (except with respect to the Fund's investment in some non-profit Operating Partnerships) from capital transaction proceeds. The Operating Partnerships intend to hold the apartment complexes for appreciation in value. The Operating Partnerships may sell the apartment complexes after a period of time if financial conditions in the future make such sales desirable and if such sales are permitted by government restrictions.

Employees

The Fund does not have any employees. Services are performed by the general partner and its affiliates and agents retained by them.

Item 1A. Risk Factors

As used in this Item 1A, references to “we, “us” and “our” mean the Fund.

An investment in our BACs and our investments in Operating Partnerships are subject to risks. These risks may impact the tax benefits of an investment in our BACs, and the amount of proceeds available for distribution to our limited partners, if any, on liquidation of our investments.

In addition to the other information set forth in this report, you should carefully consider the following factors which could materially affect our business, financial condition or results of operations. The risks described below are not the only risks we face. Additional factors not presently known to us or that we currently deem to be immaterial also may materially adversely affect our business operations.

The ability of limited partners to claim tax losses from their investment in us is limited.

The IRS may audit us or an Operating Partnership and challenge the tax treatment of tax items. The amount of Low Income Housing Tax Credits and tax losses allocable to the investors could be reduced if the IRS were successful in such a challenge. The alternative minimum tax could reduce tax benefits from an investment in our BACs. Changes in tax laws could also impact the tax benefits from an investment in our BACs and/or the value of the Operating Partnerships. Until the Operating Partnerships have completed a mandatory fifteen year Low Income Housing Tax Credit compliance period, investors are at risk for potential recapture of Low Income Housing Tax Credits that have already been claimed.

3

The Low Income Housing Tax Credits rules are extremely complicated and noncompliance with these rules may have adverse consequences for BAC holders.

Noncompliance with applicable tax regulations may result in the loss of future Low Income Housing Tax Credits and the fractional recapture of Low Income Housing Tax Credits already taken. In most cases the annual amount of Low Income Housing Tax Credits that an individual can use is limited to the tax liability due on the person’s last $25,000 of taxable income. The Operating Partnerships may be sold at a price which would not result in our realizing cash distributions or proceeds from the transaction. Accordingly, we may be unable to distribute any cash to our investors. Low Income Housing Tax Credits may be the only benefit from an investment in our BACs.

Poor performance of one housing complex, or the real estate market generally, could impair our ability to satisfy our investment objectives.

Each housing complex is subject to mortgage indebtedness. If an Operating Partnership failed to pay its mortgage, it could lose its housing complex in foreclosure. If foreclosure were to occur during the first 15 years of the existence of the Fund, the loss of any remaining future Low Income Housing Tax Credits, a fractional recapture of previously claimed Low Income Housing Tax Credits, and a loss of our investment in the housing complex would occur. To the extent the Operating Partnerships receive government financing or operating subsidies, they may be subject to one or more of the following risks:

- difficulties in obtaining rent increases;

- limitations on cash distributions;

- limitations on sales or refinancing of Operating Partnerships;

- limitations on transfers of interests in Operating Partnerships;

- limitations on removal of local general partners;

- limitations on subsidy programs; and

- possible changes in applicable regulations.

The value of real estate is subject to risks from fluctuating economic conditions, including employment rates, inflation, tax, environmental, land use and zoning policies, supply and demand of similar properties, and neighborhood conditions, among others.

No trading market for the BACs exists or is expected to develop.

There is currently no active trading market for the BACs. Accordingly, limited partners may be unable to sell their BACs or may have to sell BACs at a discount. Limited partners should consider their BACs to be a long-term investment.

Investors may realize taxable gain on sale or disposition of BACs.

Upon the sale or other taxable disposition of BACs, investors will realize taxable income to the extent that their allocable share of the non-recourse mortgage indebtedness on the apartment complexes, together with the money they receive from the sale of the BACs, is greater than the original cost of their BACs. This realized taxable income is reduced to the extent that investors have suspended passive losses or credits. It is possible that the sale of BACs may not generate enough cash to pay the tax obligations arising from the sale.

Investors may have tax liability in excess of cash.

Investors eventually may be allocated profits for tax purposes which exceed any cash distributed to them. For this tax liability, the investor will have to pay federal income tax without a corresponding cash distribution.

4

Similarly, in the event of a sale or foreclosure of an apartment complex or a sale of BACs, an investor may be allocated taxable income, resulting in tax liability, in excess of any cash distributed to him or her as a result of such event.

Investors may not receive cash if apartment complexes are sold.

There is no assurance that investors will receive any cash distributions from the sale or refinancing of an apartment complex. The price at which an apartment complex is sold may not be large enough to pay the mortgage and other expenses which must be paid at such time. Even if there are net cash proceeds from a sale, expenses such as accrued Fund management fees and unpaid loans will be deducted pursuant to Section 4.02(a) of the Fund Agreement. If any of these events happen, investors will not get all of their investment back, and the only benefit from an investment will be the tax credits received.

The sale or refinancing of the apartment complexes is dependent upon the following material factors:

- The necessity of obtaining the consent of the operating general partners;

- The necessity of obtaining the approval of any governmental agency(ies) providing government assistance to the apartment complex; and

- The uncertainty of the market.

Any sale may occur well after the fifteen-year federal housing tax credit compliance period.

We have insufficient sources of cash to pay our existing liabilities.

We currently do not have sufficient cash resources to satisfy our financial liabilities. Furthermore, we do not anticipate that we will have sufficient available cash to pay our future financial liabilities. Substantially all of our existing liabilities are payable to our general partner and its affiliates. Though the amounts payable to the general partner and its affiliates are contractually currently payable, we do not believe that the general partner or its affiliates will demand immediate payment of these contractual obligations in the near term; however, there can be no assurance that this will be the case. We would be materially adversely affected if the general partner or its affiliates demanded payment in the near term of our existing contractual liabilities or suspended the provision of services to us because of our inability to satisfy these obligations. All monies currently deposited, or that will be deposited in the future, into the Fund's working capital reserves are intended to be utilized to pay our existing and future liabilities.

Item 1B. Unresolved Staff Comments

Not applicable.

Item 2. Properties

The Fund has acquired a limited partnership interest in 169 Operating Partnerships in 24 series, identified in the table set forth below. The apartment complexes owned by the Operating Partnerships are eligible for the Federal Housing Tax Credit. Initial occupancy of a unit in each apartment complex which initially complied with the minimum set-aside test (i.e., initial occupancy by tenants with incomes equal to no more than a designated percentage of area median income) and the rent restriction test (i.e., gross rent charged tenants does not exceed 30% of the applicable income standards) is referred to as "Qualified Occupancy." The Operating Partnerships and the respective apartment complexes are described more fully in the Prospectus. The general partner believes that there is adequate casualty insurance on the properties.

Please refer to Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations" for a more detailed discussion of operational difficulties experienced by certain of the Operating Partnerships.

5

Boston Capital Tax Credit Fund IV L.P. - Series 20

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Concordia Manor I	St. Croix, VI	22	$	1,314,478	8/94	7/95		100	%	$	490,034
Kristine Apartments	Bakersfield, CA	60		512,660	10/94	10/94		100	%		311,675

6

Boston Capital Tax Credit Fund IV L.P. - Series 21

PROPERTY PROFILE AS OF MARCH 31, 2018

All properties in Series 21 have been disposed of.

7

Boston Capital Tax Credit Fund IV L.P. - Series 22

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Concordia Manor II	St. Croix, VI	20	$	1,349,998	1/95	11/95		100	%	$	259,444
Concordia Manor III	St. Croix, VI	20		1,320,530	2/95	12/95		100	%		264,007
Drakes Branch Elderly	Drakes Branch, VA	32		1,121,427	1/95	6/95		100	%		232,722

8

Boston Capital Tax Credit Fund IV L.P. - Series 23

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Concordia Manor II	St. Croix, VI	20	$	1,349,998	1/95	11/95		100	%	$	259,445
Concordia Manor III	St. Croix, VI	20		1,320,530	2/95	12/95		100	%		264,007
Ithaca Apts. I	Ithaca, MI	28		418,260	11/95	7/95		100	%		164,008

9

Boston Capital Tax Credit Fund IV L.P. - Series 24

PROPERTY PROFILE AS OF MARCH 31, 2018 

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Autumn Ridge Apartments	Shenandoah, VA	34	$	1,399,126	7/96	1/97		100	%	$	319,466
Hillridge Apts	Los Lunas, NM	38		215,000	8/96	6/96		100	%		1,466,007
New Hilltop Apartments	Laurens, SC	72		1,258,384	11/95	11/95		100	%		450,039
Northfield Housing, L.P.	Jackson, MS	5		48,841	12/96	9/96		100	%		217,266
Shadowcreek Apartments	Overton, NV	24		1,111,189	6/96	9/96		100	%		361,320

10

Boston Capital Tax Credit Fund IV L.P. - Series 25

PROPERTY PROFILE AS OF MARCH 31, 2018

All properties in Series 25 have been disposed of.

11

Boston Capital Tax Credit Fund IV L.P. - Series 26

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Brookhaven Apts.	Shrevport, LA	35	$	882,867	2/97	1/97		100	%	$	726,113
Devonshire II Apts.	London, OH	28		630,010	1/97	12/96		100	%		182,070
Devonshire West Apts.	W. Jefferson, OH	19		445,451	1/97	1/97		100	%		126,983
Hanover Apts.	Ashland, VA	40		1,155,951	11/97	4/98		100	%		295,538
New Hope Bailey Apts.	De Ridder, LA	40		688,367	8/96	9/96		100	%		758,620
Southwind Apts. A LDHA	Jennings, LA	36		699,849	8/96	12/96		100	%		700,216
T.R. Bobb Apts.	New Iberia, LA	30		586,204	8/96	12/96		100	%		714,504
Warrensburg Heights	Warrensburg, MO	28		983,997	12/96	11/96		100	%		308,825
Westside Apts.	Salem, AR	29		831,636	8/96	10/96		100	%		265,020

12

Boston Capital Tax Credit Fund IV L.P. - Series 27

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Angelou Court Apts.	New York, NY	23	$	690,000	10/97	8/99		100	%	$	1,791,275
Magnolia Place Apts.	Gautier, MS	40		500,000	11/97	1/98		100	%		800,027
Northrock Apts.	Topeka, KS	76		1,219,239	5/00	5/00		100	%		610,365

13

Boston Capital Tax Credit Fund IV L.P. - Series 28

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Cottonwood Apts.	Holly Grove, AR	24	$	748,888	2/97	4/97		100	%	$	254,856
Fairway Apts. II	Marlette, MI	48		634,648	12/96	3/97		100	%		255,353
Jackson Place Apts.	Jackson, LA	40		819,079	7/97	10/97		100	%		983,615
Mapelwood Apts.	Winnfield, LA	40		1,051,029	3/98	8/98		100	%		922,119
Southern Villa Apts.	Russellville, KY	32		1,225,029	11/97	4/98		100	%		323,500

14

Boston Capital Tax Credit Fund IV L.P. - Series 29

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Colonial Apts.	Poplarville, MS	16	$	357,300	10/97	7/97		100	%	$	86,039
Emerald Trace Apts.	Ruston, LA	48		1,179,285	8/98	4/99		100	%		1,199,141
Edgewood Apts.	Baker, LA	72		1,172,570	3/97	9/98		100	%		1,856,539
The Lincoln Hotel	San Diego, CA	41		704,375	2/97	7/97		100	%		697,511
Palmetto Place Apts.	Benton, LA	40		1,191,506	10/98	4/99		100	%		1,153,878
Regency Apts.	Poplarville, MS	16		411,330	10/97	7/97		100	%		102,419
Westfield Apts.	Welsh, LA	40		654,873	11/97	8/98		100	%		918,605

15

Boston Capital Tax Credit Fund IV L.P. - Series 30

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Emerald Trace II Apts	Ruston, LA	24	$	175,205	7/98	12/98		100	%	$	717,594
Farewell Mills Apts.	Lisbon, ME	27		733,525	8/97	3/98		100	%		662,864
New River Gardens	Radford, VA	48		1,327,636	10/98	5/99		100	%		637,321
Northgate Apts.	Bryant, AR	20		505,583	4/99	11/99		100	%		834,557
Pine Forest Apts.	Dahlgren, VA	40		1,712,052	3/98	2/99		100	%		503,181

16

Boston Capital Tax Credit Fund IV L.P. - Series 31

PROPERTY PROFILE AS OF MARCH 31, 2018 

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Canton Manor Apts.	Canton, MS	32	$	684,062	11/97	7/98		100	%	$	271,306
Canton Village Apts.	Canton, MS	42		976,064	11/97	7/98		100	%		363,557
Giles Apts.	Amelia, VA	16		657,582	3/98	2/99		100	%		183,711
Madison Height Apts.	Canton, MS	80		2,025,440	11/97	7/98		100	%		786,614
Nottoway Manor	Blackstone, VA	28		781,448	3/98	4/99		100	%		214,977
Park Ridge Apts.	McKee, KY	22		811,126	10/97	5/98		100	%		338,464
Roth Village	Mechanicsburg, PA	61		1,469,824	10/97	9/98		100	%		2,664,992
Royal Estates Apts.	Canton, MS	32		750,092	11/97	7/98		100	%		282,525

17

Boston Capital Tax Credit Fund IV L.P. - Series 32

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Columbia Luxar	Dallas, TX	125	$	2,638,835	8/98	12/99		100	%	$	3,947,106
Colony Park Apts.	Pearl, MS	192		613,152	6/98	12/99		100	%		2,911,900
Parkside Plaza Apts	New York, NY	39		1,282,881	7/99	5/01		100	%		2,931,239
Pecan Manor Apts.	Natchitoches, LA	40		660,157	7/98	10/98		100	%		1,501,914
Pineridge Apts.	Franklinton, LA	40		676,659	7/98	1/99		100	%		1,497,889
Sterling Creek Apts.	Independence, MO	48		434,223	5/98	5/00		100	%		1,973,594

18

Boston Capital Tax Credit Fund IV L.P. - Series 33

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Columbia Luxar	Dallas, TX	125	$	2,638,835	8/98	12/99		100	%	$	3,947,106
Northrock Apts.	Topeka, KS	76		1,219,239	5/99	5/00		100	%		1,133,534
Stonewall Retirement Village	Stonewall, LA	40		1,180,135	7/98	1/99		100	%		1,495,966

19

Boston Capital Tax Credit Fund IV L.P. - Series 34

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Abby Ridge Apts.	Elizabethtown, KY	24	$	241,266	2/00	1/00		100	%	$	1,577,723
Belmont Affordable Housing Two Apts.	Philadelphia, PA	20		252,675	1/99	12/99		100	%		1,829,040
Hillside Club Apts.	Bear Creek Township, MI	56		1,735,210	10/98	12/99		100	%		2,097,333
Romeo Village Apts.	Montour Falls, NY	24		993,435	10/98	4/99		100	%		753,362

20

Boston Capital Tax Credit Fund IV L.P. - Series 35

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Autumn Park	Dickson, TN	104	$	2,930,619	4/99	12/99		100	%	$	1,637,797
Garden Gates Apts. II	New Caney, TX	32		983,653	3/99	3/00		100	%		1,067,950

21

Boston Capital Tax Credit Fund IV L.P. - Series 36

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Ashton Ridge	Jackson, MI	144	$	2,226,066	2/00	12/00		100	%	$	1,430,296
Willowbrook Apts.	Lafayette, LA	40		566,009	6/99	9/99		100	%		1,200,789
Wingfield Apts.	Kinder, LA	40		598,228	6/99	7/99		100	%		1,645,817

22

Boston Capital Tax Credit Fund IV L.P. - Series 37

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Ashton Ridge Apts.	Jackson, MS	144	$	2,226,066	02/00	12/00		100	%	$	6,003,938

23

Boston Capital Tax Credit Fund IV L.P. - Series 38

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Hammond Place Apts.	Hammond, LA	40	$	406,483	3/00	4/00		100	%	$	1,706,341
Shoreham Apts.	Houston, TX	120		2,649,593	4/00	7/01		100	%		6,138,485
Whitley Park Apts.	Whitley City, KY	21		828,172	6/00	6/00		100	%		302,339
Willowbrook II Apts.	Lafayette, LA	40		488,482	3/00	5/00		100	%		1,247,680

24

Boston Capital Tax Credit Fund IV L.P. - Series 39

PROPERTY PROFILE AS OF MARCH 31, 2018

All properties in Series 39 have been disposed of.

25

Boston Capital Tax Credit Fund IV L.P. - Series 40

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Carlyle Apts.	Aberdeen, SD	44	$	311,260	2/01	6/01		100	%	$	1,359,155
Center Place Apts.	Center, TX	32		672,033	08/01	10/01		100	%		428,835
Mason's Point Apts.	Hopkinsville, KY	41		1,200,031	06/01	7/02		100	%		1,824,270
Meadowside Apts.	Milo, NY	40		1,537,172	05/01	12/01		100	%		855,372
Northrock Apts. II	Topeka, KS	60		1,629,061	07/01	5/02		100	%		1,838,666
Oakland Apts.	Oakdale, LA	46		1,099,798	2/01	7/01		100	%		767,451
Parkview Apts.	Springfield, MA	25		1,025,508	2/01	2/02		100	%		1,221,510
Sedgewick Sundance Apts.	Sedgewick, KS	24		229,855	09/01	10/01		100	%		1,372,208
Western Gardens Apts.	Dequincey, LA	48		1,155,399	2/01	7/01		100	%		782,188

26

Boston Capital Tax Credit Fund IV L.P. - Series 41

PROPERTY PROFILE AS OF MARCH 31, 2018 

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Breezewood Villas I	Frederiksted, VI	12	$	932,789	10/01	6/02		100	%	$	494,361
Cedar Grove Apartments Phase I	Shepherdsville, KY	36		937,282	5/02	7/01		100	%		424,955
Cranberry Cove Apartments	Beckley, WV	28		921,659	5/02	1/02		100	%		514,844
Franklin Green	Franklin Grove, IL	12		283,433	5/02	9/01		100	%		308,576
Marina Woods Apts.	Halfmoon, NY	32		1,387,733	7/01	4/02		100	%		1,626,221
Marwood Senior Apts.	Upper Marlboro, MD	155		11,348,235	7/01	8/02		100	%		1,385,308
Meadowside Apts.	Milo, NY	40		1,537,172	5/01	12/01		100	%		855,372
Mill Creek Village	Mt. Carroll, IL	12		328,166	5/02	9/01		100	%		264,354
Northline Terrace	Mentoda, IL	24		576,071	5/02	6/01		100	%		545,986
Palisades Park	Fulton, IL	16		417,557	5/02	9/01		100	%		396,066
Sandalwood Apartments	Toppenish, WA	20		931,281	5/02	7/01		100	%		293,983
Southpark Apts. II	Newton, KS	60		1,346,269	9/01	5/02		100	%		2,117,956

27

Boston Capital Tax Credit Fund IV L.P. - Series 42

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Bellamy Mills Apartments	Dover, NH	30	$	1,174,923	4/02	12/02		100	%	$	2,888,317
Breezewood Villas II	Frederiksted, VI	12		925,379	4/02	3/03		100	%		505,416
Chester Townhouses Phase II	Chester, SC	52		1,850,881	4/06	12/06		100	%		421,158
Hillridge Apartments	Los Lunas, NM	38		215,000	4/03	6/96		100	%		112,211
Lynnelle Landing Apts.	Charleston, WV	56		1,139,569	3/02	9/02		100	%		2,009,976
Marwood Senior Apartments	Upper Marlboro, MD	67		11,348,235	09/04	8/02		100	%		160,174
Northfield Housing, LP	Jackson, MS	5		48,841	4/03	12/96		100	%		24,330
Park Plaza IV	West Memphis, AR	24		547,585	6/02	10/02		100	%		1,219,397
Parkhurst Place	Amherst, NH	42		3,175,155	1/02	9/02		100	%		518,876
Strawberry Lane Apts.	Clayton, NY	71		1,532,037	3/02	8/02		100	%		672,589
Wingfield Apartments II	Kinder, LA	42		183,044	8/02	11/01		100	%		1,422,373

28

Boston Capital Tax Credit Fund IV L.P. - Series 43

PROPERTY PROFILE AS OF MARCH 31, 2018 

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Alexander Mill Apartments	Lawrenceville, GA	224	$	10,888,674	12/02	1/03		100	%	$	1,854,189
Bohannon Place Apts.	Bowling Green, KY	12		185,858	5/03	10/03		100	%		909,561
Carpenter School	Natchez, MS	38		1,294,421	1/03	12/03		100	%		1,278,002
Charlevoix Apartments	Charlevoix, MI	40		996,266	9/02	11/02		100	%		302,357
Chester Townhouses Phase II	Chester, SC	52		1,850,881	4/06	12/06		100	%		226,777
Cloverlane Apartments	Lakeview, MI	24		16,021	9/02	10/02		100	%		356,228
Geneva Sr. Citizen Apts.	Geneva, NY	32		1,397,287	4/03	12/03		100	%		2,035,378
Gilbert Apts.	Corbin, KY	40		568,455	7/03	5/04		100	%		2,780,800
Lakewood Apartments	Saranac, MI	24		731,077	9/02	10/02		100	%		475,606
The Landing Apts.	Whitley, KY	24		1,208,392	4/03	6/04		100	%		302,763
Library Square Apts.	Mandan, ND	46		1,763,994	9/03	8/03		100	%		2,752,868

29

Boston Capital Tax Credit Fund IV L.P. - Series 43

PROPERTY PROFILE AS OF MARCH 31, 2018

Continued

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Parkside Plaza Apartments	New York, NY	34	$	1,282,881	1/04	5/01		100	%	$	21,847
Parkside Apartments	Coleman, MI	40		530,239	9/02	12/02		100	%		832,371
Riverview Apartments	Blissfield, MI	32		580,615	9/02	2/02		100	%		509,938
Seven Points Apartments	Seven Points, TX	36		828,043	9/02	3/03		100	%		687,978
Stottville Court Apartments	Stockport, NY	28		1,085,692	9/02	5/03		100	%		1,073,805
Strawberry Lake Apts.	Norway, MI	32		671,100	7/03	12/03		100	%		763,285

30

Boston Capital Tax Credit Fund IV L.P. - Series 44

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Alexander Mills Apts.	Lawrenceville, GA	224	$	10,888,674	2/03	1/03		100	%	$	2,266,233
Aurora Village Sr.	Aurora, CO	100		3,449,777	2/03	3/03		100	%		1,526,951
Northrock Apts. III	Topeka, KS	32		764,368	6/03	11/03		100	%		1,565,194
Orchard Manor Apts.**	Ukiah, CA	64		6,117,678	10/03	9/03		100	%		2,483,087
Orchard River Apts.**	Ukiah, CA	48		**	10/03	7/03		100	%		**
Oxford Manor Apts.	New Oxford, PA	32		1,184,397	3/03	5/03		100	%		454,862
Post Oak East Apts.	Fort Worth, TX	246		12,403,947	7/04	5/06		100	%		3,874,783
River Gardens Apts.**	Fort Bragg, CA	48		**	10/03	11/03		100	%		**
Villages at Aspen Club	Bealton, VA	30		1,535,843	4/03	10/03		100	%		1,568,815

**   3 properties which make up one Operating Partnership named Orchard River Associates LP with 160 units. Entire mortgage balance and capital contributions paid reported with Orchard Manor Apts.

31

Boston Capital Tax Credit Fund IV L.P. - Series 45

PROPERTY PROFILE AS OF MARCH 31, 2018

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Bartlett Bayou	Pascagoula, MS	48	$	740,615	7/03	9/05		100	%	$	2,675,101
Breezewood Villas II	Frederiksted, VI	12		925,379	12/03	3/03		100	%		53,729
Brookside Square	Boykins, VA	32		1,130,559	7/03	8/04		100	%		743,039
Dawn Springs Villa	London, KY	24		414,392	5/05	10/05		100	%		1,099,086
Eastview Family	Watonga, OK	16		601,328	9/04	6/04		100	%		187,429
Fairview Manor	Childress, TX	48		647,747	5/03	3/04		100	%		859,892
Heritage Christian Home III	Brighton, NY	12		62,803	1/04	10/03		100	%		721,545
Jefferson House	Lynchburg, VA	101		1,670,815	12/04	7/05		100	%		925,273
Kings Pt. Apts.	Sheridan, CO	50		1,797,917	8/03	12/03		100	%		788,729
La Mirage Apts.	Borger, TX	12		674,557	8/03	10/03		100	%		766,945
Lakeview Station	Shepardsville, KY	28		532,127	7/03	9/03		100	%		1,402,270
Lawrence-ville Manor	Lawrenceville, VA	24		800,722	7/03	8/04		100	%		771,671
Lincoln Apts.	Shinnston, WV	32		452,314	10/03	12/03		100	%		786,619

32

Boston Capital Tax Credit Fund IV L.P. - Series 45

PROPERTY PROFILE AS OF MARCH 31, 2018

Continued

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
London Village	London, KY	32	$	460,502	4/05	9/05		100	%	$	2,021,436
Lone Terrace	Lone Grove, OK	32		1,177,699	5/03	1/04		100	%		435,193
Lorie Village	Bowling Green, KY	32		740,687	7/03	11/03		100	%		1,288,510
Marina Woods Apts.	Halfmoon, NY	32		1,387,733	12/03	4/02		100	%		4,435
Mill Race Apts.	Plainwell, MI	32		819,849	6/03	12/03		100	%		347,253
Orchard View Apst.	Farmington, MO	40		591,150	7/03	6/04		100	%		2,226,954
Reese Village	Emporia, VA	40		1,516,009	3/05	11/04		100	%		1,198,088
Ridge Crest Apts.	St. Louis, MO	83		2,931,579	8/03	9/04		100	%		2,020,327
Sulphur Terrace	Sulphur, OK	32		1,151,978	5/03	1/04		100	%		433,759
University Plaza Sr. Complex	Greely, CO	34		872,709	5/03	9/03		100	%		332,128
Valleyview Apts.	Canneyville, KY	24		655,163	12/05	12/04		100	%		488,540
William B. Quarton	Cedar Rapids, IA	28		1,501,099	1/04	7/03		100	%		1,197,000
Willow Oak and Oroville Apartments	Willows, CA	122		3,840,784	07/04	10/03		100	%		1,619,212

33

Boston Capital Tax Credit Fund IV L.P. - Series 46

PROPERTY PROFILE AS OF MARCH 31, 2018 

Property Name	Location	Units	Mortgage Balance as of 12/31/17		Acq Date	Const Comp	Qualified Occupancy 3/31/18			Cap Con paid thru 3/31/18
Bartlett Bayou Apartments	Pascagoula, MS	48	$	740,615	7/03	9/05		100	%	$	786,153
Clayton Station Apartments	Munfordville, KY	29		666,900	4/04	9/04		100	%		1,274,486
Deer Meadow Apartments	Tishomingo, OK	24		1,071,831	2/04	3/04		100	%		369,626
Elma Gardens	Elma, WA	36		1,393,640	3/05	1/04		100	%		588,701
Jacksonville Square Apts.	Jacksonville, TX	44		983,075	11/03	7/04		100	%		621,519
Kimberly Place Apartments	Danbury, CT	117		6,068,036	6/04	4/05		100	%		2,450,732
Linden's Apartments	Shawnee, OK	54		876,745	12/04	2/06		100	%		2,963,132
Ocean East Housing	Portland, ME	32		1,354,538	2/04	6/05		100	%		3,787,273
Panola Apts.	Carthage, TX	32		661,041	12/03	4/04		100	%		461,573
Rosehill Apts.	Topeka, KS	48		2,253,710	12/03	9/04		100	%		2,540,503
Sandy Hill Apartments	Greenville, KY	29		402,133	4/04	10/04		100	%		1,849,164
Saint Martin Apartments	McCombs, MS	40		578,654	8/05	4/06		100	%		1,539,454
Tanglewood Village Apartments	Panama, OK	24		1,110,863	9/04	5/04		100	%		402,649
Wagoner Village	Wagoner, OK	31		925,477	1/04	1/04		100	%		341,377

34

Item 3.	Legal Proceedings
	None.
Item 4.	Mine Safety Disclosures
	Not Applicable

35

PART II

Item	5.	Market for the Fund's Limited Partnership Interests, Related Partner Matters and Issuer Purchases of Partnership Interests
	(a)	Market Information
		The Fund is classified as a limited partnership and does not have common stock. There is no established public trading market for the BACs and it is not anticipated that any public market will develop.
	(b)	Approximate number of security holders
		As of March 31, 2018, the Fund has 41,780 BAC holders for an aggregate of 83,651,080 BACs, at a subscription price of $10 per BAC, received and accepted.
		The BACs were issued in series. Series 20 consists of 2,241
		investors holding 3,866,700 BACs, Series 21 consists of 1,143
		investors holding 1,892,700 BACs, Series 22 consists of 1,596
		investors holding 2,564,400 BACs, Series 23 consists of 2,081
		investors holding 3,336,727 BACs, Series 24 consists of 1,261
		investors holding 2,169,878 BACs, Series 25 consists of 1,728
		investors holding 3,026,109 BACs, Series 26 consists of 2,245
		investors holding 3,995,900 BACs, Series 27 consists of 1,295
		investors holding 2,460,700 BACs, Series 28 consists of 1,994
		investors holding 4,000,738 BACs, Series 29 consists of 2,165
		investors holding 3,991,800 BACs, Series 30 consists of 1,308
		investors holding 2,651,000 BACs, Series 31 consists of 2,014
		investors holding 4,417,857 BACs, Series 32 consists of 2,212
		investors holding 4,754,198 BACs, Series 33 consists of 1,213
		investors holding 2,636,533 BACs, Series 34 consists of 1,666
		investors holding 3,529,319 BACs, Series 35 consists of 1,637
		investors holding 3,300,463 BACs, Series 36 consists of 995
		investors holding 2,106,838 BACs, Series 37 consists of 1,106
		investors holding 2,512,500 BACs, Series 38 consists of 1,174
		investors holding 2,543,100 BACs, Series 39 consists of 975
		investors holding 2,292,151 BACs, Series 40 consists of 1,080
		investors holding 2,630,256 BACs, Series 41 consists of 1,341
		investors holding 2,891,626 BACs, Series 42 consists of 1,204
		investors holding 2,744,262 BACs, Series 43 consists of 1,628
		investors holding 3,637,987 BACs, Series 44 consists of 1,268
		investors holding 2,701,973 BACs, Series 45 consists of 1,805
		investors holding 4,014,367 BACS and Series 46 consists of 1,405
		investors holding 2,980,998 BACS at March 31, 2018

36

(c)	Dividend history and restriction
	The Fund has made no distributions of net cash flow to its BAC holders from its inception, October 5, 1993, through March 31, 2018.
	The Fund Agreement provides that profits, losses and credits will be allocated each month to the holder of record of a BAC as of the last day of such month. Allocation of profits, losses and credits among BAC holders are made in proportion to the number of BACs held by each BAC holder.
	Any distributions of net cash flow or liquidation, sale or refinancing proceeds will be made within 180 days of the end of the annual period to which they relate. Distributions will be made to the holders of record of a BAC as of the last day of each month in the ratio which (i) the BACs held by the holder on the last day of the calendar month bears to (ii) the aggregate number of BACs outstanding on the last day of such month.

37

During the year ended March 31, 1999, the Fund made a return of equity distribution to the Series 27 limited partners in the amountof $275,000. The distribution was the result of certain Operating Partnerships not achieving their projected tax credits.

During the year ended March 31, 2000 the Fund made a return of equity distribution to the Series 29 limited partners in the amount of $238,040. The distribution was the result of certain Operating Partnerships not achieving their projected tax credits.

During the year ended March 31, 2006 the Fund made a return of equity distribution to Series 20 limited partners in the amount of $371,349. The distribution was the result of proceeds available from the sale of one Operating Partnership.

During the year ended March 31, 2006, the Fund made a return of equity distribution to the Series 20 and Series 41 limited partners in the amount of $1,860,003 and $138,998, respectively. The distributions were the result of proceeds available from the refinancing of one Operating Partnership.

During the year ended March 31, 2016 the Fund made a return of equity distribution to Series 24 limited partners in the amount of $604,486. The distribution was the result of proceeds available from the sale of Operating Partnerships.

During the year ended March 31, 2016 the Fund made a return of equity distribution to Series 25 limited partners in the amount of $3,382,746. The distribution was the result of proceeds available from the sale of Operating Partnerships.

During the year ended March 31, 2016 the Fund made a return of equity distribution to Series 26 limited partners in the amount of $2,190,980. The distribution was the result of proceeds available from the sale of Operating Partnerships.

During the year ended March 31, 2016 the Fund made a return of equity distribution to Series 28 limited partners in the amount of $6,191,069. The distribution was the result of proceeds available from the sale of Operating Partnerships.

During the year ended March 31, 2018 the Fund made a return of equity distribution to Series 25 limited partners in the amount of $380,117. The distribution was the result of proceeds available from the sale of Operating Partnerships.

During the year ended March 31, 2018 the Fund made a return of equity distribution to Series 39 limited partners in the amount of $40,046. The distribution was the result of proceeds available from the sale of Operating Partnerships.

38

Item 6.	Selected Financial Data
	Not Applicable.
Item 7.	Management's Discussion and Analysis of Financial Condition and Results of Operations

This Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements including our intentions, hopes, beliefs, expectations, strategies and predictions of our future activities, or other future events or conditions. These statements are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created by these acts. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including, for example, the factors identified in Part I, Item 1A of this Report. Although we believe that the assumptions underlying these forward-looking statements are reasonable, any of the assumptions could be inaccurate, and there can be no assurance that the forward-looking statements included in this Report will prove to be accurate. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of this information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved.

Liquidity

The Fund's primary source of funds was the proceeds of its Public Offering.  Other sources of liquidity include (i) interest earned on capital contributions held pending investment or on working capital reserves, (ii) cash distributions from operations of the Operating Partnerships in which the Fund has invested and (iii) proceeds received from the dispositions of the Operating Partnerships that are returned to fund reserves.  These sources of liquidity, along with the Fund’s working capital reserve, are available to meet the obligations of the Partnership.  The Fund does not anticipate significant cash distributions from operations of the Operating Partnerships.

39

Capital Resources

The Fund offered BACs in the Offering originally declared effective by the Securities and Exchange Commission on December 16, 1993. The Fund received and accepted subscriptions for $836,177,880 representing 83,651,080 BACs from investors admitted as BAC holders in Series 20 through 46 of the Fund. On December 19, 2003, the Fund concluded its public offering of BACs.

(Series 20). The Fund commenced offering BACs in Series 20 on January 21, 1994. The Fund received and accepted subscriptions for $38,667,000 representing 3,866,700 BACs from investors admitted as BAC holders in Series 20. Offers and sales of BACs in Series 20 were completed and the last of the BACs in Series 20 were issued by the Fund on June 24, 1994.

During the fiscal year ended March 31, 2018, none of Series 20 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 20 had been used to invest in 24 Operating Partnerships in an aggregate amount of $27,693,970. As of March 31, 2018, 22 of the properties have been disposed of and 2 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 21). The Fund commenced offering BACs in Series 21 on July 5, 1994. The Fund received and accepted subscriptions for $18,927,000 representing 1,892,700 BACs from investors admitted as BAC holders in Series 21. Offers and sales of BACs in Series 21 were completed and the last of the BACs in Series 21 were issued by the Fund on September 30, 1994.

During the fiscal year ended March 31, 2018, none of Series 21 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 21 had been used to invest in 14 Operating Partnerships in an aggregate amount of $13,872,728. As of March 31, 2018, all 14 of the properties has been disposed. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 22). The Fund commenced offering BACs in Series 22 on October 12, 1994. The Fund received and accepted subscriptions for $25,644,000 representing 2,564,400 BACs from investors admitted as BAC holders in Series 22. Offers and sales of BACs in Series 22 were completed and the last of the BACs in Series 22 were issued by the Fund on December 28, 1994.

During the fiscal year ended March 31, 2018, none of Series 22 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 22 had been used to invest in 29 Operating Partnerships in an aggregate amount of $18,758,748 and the Fund had completed payment of all installments of its capital contributions to 27 of the Operating Partnerships. As of March 31, 2018, 26 of the properties have been disposed of and 3 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 23). The Fund commenced offering BACs in Series 23 on January 10, 1995. The Fund received and accepted subscriptions for $33,366,000 representing 3,336,727 BACs from investors admitted as BAC holders in Series 23. Offers and Sales of BACs in Series 23 were completed and the last of the BACs in Series 23 were issued by the Fund on June 23, 1995.

40

During the fiscal year ended March 31, 2018, none of Series 23 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 23 had been used to invest in 22 Operating Partnerships in an aggregate amount of $24,352,278. As of March 31, 2018, 19 of the properties have been disposed of and 3 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 24). The Fund commenced offering BACs in Series 24 on June 9, 1995. The Fund received and accepted subscriptions for $21,697,000 representing 2,169,878 BACs from investors admitted as BAC holders in Series 24. Offers and Sales of BACs in Series 24 were completed and the last of the BACs in Series 24 were issued by the Fund on September 22, 1995.

During the fiscal year ended March 31, 2018, none of Series 24 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 24 had been used to invest in 24 Operating Partnerships in an aggregate amount of $15,796,309. As of March 31, 2018, 19 of the properties have been disposed of and 5 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 25). The Fund commenced offering BACs in Series 25 on September 30, 1995. The Fund received and accepted subscriptions for $30,248,000 representing 3,026,109 BACs from investors admitted as BAC holders in Series 25. Offers and Sales of BACs in Series 25 were completed and the last of the BACs in Series 25 were issued by the Fund on December 29, 1995.

During the fiscal year ended March 31, 2018, none of Series 25 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 25 had been used to invest in 22 Operating Partnerships in an aggregate amount of $22,324,539. As of March 31, 2018, all 22 of the properties have been disposed. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 26). The Fund commenced offering BACs in Series 26 on January 18, 1996. The Fund received and accepted $39,959,000 representing 3,995,900 BACs from investors admitted as BAC holders in Series 26. Offers and sales of BACs in Series 26 were completed and the last of the BACS in Series 26 were issued by the Fund on June 14, 1996.

During the fiscal year ended March 31, 2018, none of Series 26 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 26 had been used to invest in 45 Operating Partnerships in an aggregate amount of $29,401,215. As of March 31, 2018, 36 of the properties have been disposed of and 9 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 27). The Fund commenced offering BACs in Series 27 on June 17, 1996. The Fund received and accepted $24,607,000 representing 2,460,700 BACs from investors admitted as BAC holders in Series 27. Offers and sales of BACs in Series 27 were completed and the last of the BACS in Series 27 were issued by the Fund on September 27, 1996.

41

During the fiscal year ended March 31, 2018, none of Series 27 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 27 had been used to invest in 16 Operating Partnerships in an aggregate amount of $17,881,574. As of March 31, 2018, 13 of the properties have been disposed of and 3 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 28). The Fund commenced offering BACs in Series 28 on September 30, 1996. The Fund received and accepted $39,999,000 representing 4,000,738 BACs from investors admitted as BAC holders in Series 28. Offers and sales of BACs in Series 28 were completed and the last of the BACS in Series 28 were issued by the Fund on January 31, 1997.

During the fiscal year ended March 31, 2018, none of Series 28 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 28 had been used to invest in 26 Operating Partnerships in an aggregate amount of $29,281,983. As of March 31, 2018, 21 of the properties have been disposed of and 5 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 29). The Fund commenced offering BACs in Series 29 on February 10, 1997. The Fund received and accepted $39,918,000 representing 3,991,800 BACs from investors admitted as BAC holders in Series 29. Offer and sales of BACs in Series 29 were completed on June 20, 1997.

During the fiscal year ended March 31, 2018, none of Series 29 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 29 had been used to invest in 22 Operating Partnerships in an aggregate amount of $29,137,877. As of March 31, 2018, 15 of the properties has been disposed of and 7 remain. The Fund had completed payment of all installments of its capital contributions to 21 of the Operating Partnerships. Series 29 has outstanding contributions payable to 1 Operating Partnership in the amount of $885 as of March 31, 2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

(Series 30). The Fund commenced offering BACs in Series 30 on June 23, 1997. The Fund received and accepted $26,490,750 representing 2,651,000 BACs from investors admitted as BAC holders in Series 30. Offer and sales of BACs in Series 30 were completed on September 10, 1997.

During the fiscal year ended March 31, 2018, none of Series 30 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 30 had been used to invest in 20 Operating Partnerships in an aggregate amount of $19,497,869. As of March 31, 2018, 15 of the properties have been disposed of and 5 remain. The Fund had completed payment of all installments of its capital contributions to 18 of the Operating Partnerships. Series 30 has outstanding contributions payable to 2 Operating Partnerships in the amount of $65,176 as of March 31, 2018. The remaining contributions will be released when Operating Partnerships have achieved the conditions set forth in their respective partnership agreements.

42

(Series 31). The Fund commenced offering BACs in Series 31 on September 11, 1997. The Fund had received and accepted $44,057,750 representing 4,417,857 BACs from investors admitted as BAC holders in Series 31. Offer and sales of BACs in Series 31 were completed on January 18, 1998.

During the fiscal year ended March 31, 2018, none of Series 31 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnership. Proceeds from the offer and sale of BACs in Series 31 had been used to invest in 27 Operating Partnerships in an aggregate amount of $32,569,100. As of March 31, 2018, 19 of the properties have been disposed of and 8 remain. The Fund had completed payment of all installments of its capital contributions to 23 of the Operating Partnerships. Series 31 has outstanding contributions payable to 4 Operating Partnerships in the amount of $66,294 as of March 31, 2018. Of the amount outstanding, $25,000 has been funded into an escrow account on behalf of another Operating Partnership. The escrowed funds will be converted to capital and the remaining contributions of $41,294 will be released when the Operating Partnerships have achieved the conditions set forth in their respective partnership agreements.

(Series 32). The Fund commenced offering BACs in Series 32 on January 19, 1998. The Fund had received and accepted $47,431,000 representing 4,754,198 BACs from investors admitted as BAC holders in Series 32. Offer and sales of BACs in Series 32 were completed on June 23, 1998.

During the fiscal year ended March 31, 2018, none of Series 32 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnership. Proceeds from the offer and sale of BACs in Series 32 had been used to invest in 17 Operating Partnerships in an aggregate amount of $34,129,677. As of March 31, 2018, 11 of the properties have been disposed of and 6 remain. The Fund had completed payment of all installments of its capital contributions to 16 of the Operating Partnerships. Series 32 has outstanding contributions payable to 1 Operating Partnership in the amount of $1,229 as of March 31, 2018. The remaining contributions will be released when Operating Partnership have achieved the conditions set forth its partnership agreement.

During the fiscal year ended March 31, 1999, the Fund had purchased assignments in Bradley Phase I of Massachusetts LLC, Bradley Phase II of Massachusetts LLC, Byam Village of Massachusetts LLC, Hanover Towers of Massachusetts LLC, Harbor Towers of Massachusetts LLC and Maple Hill of Massachusetts LLC. Under the terms of the Assignments of Membership Interests dated December 1, 1998 the series is entitled to certain profits, losses, tax credits, cash flow, proceeds from capital transactions and capital account as defined in the individual Operating Partnership Agreements. The Fund utilized $1,092,847 of Series 32 net offering proceeds to invest in Operating Partnerships for this investment.

(Series 33). The Fund commenced offering BACs in Series 33 on June 22, 1998. The Fund received and accepted $26,362,000 representing 2,636,533 BACs from investors admitted as BAC holders in Series 33. Offer and sales of BACs in Series 33 were completed on September 21, 1998.

During the fiscal year ended March 31, 2018, none of Series 33 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 33 had been used to invest in 10 Operating Partnerships in an aggregate amount of $19,594,100 and the Fund had completed payment of all installments of its capital contributions to 8 of the Operating Partnerships. As of March 31, 2018, 7 of the properties have been disposed of and 3 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

43

(Series 34). The Fund commenced offering BACs in Series 34 on September 22, 1998. The Fund had received and accepted $35,273,000 representing 3,529,319 BACs from investors admitted as BAC holders in Series 34. Offer and sales of BACs in Series 34 were completed on February 11, 1999.

During the fiscal year ended March 31, 2018, none of Series 34 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 34 had been used to invest in 14 Operating Partnerships in an aggregate amount of $25,738,978. As of March 31, 2018, 10 of the properties have been disposed of and 4 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 35). The Fund commenced offering BACs in Series 35 on February 22, 1999. The Fund received and accepted $33,002,000 representing 3,300,463 BACs from investors admitted as BAC holders in Series 35. Offer and sales of BACs in Series 35 were completed on June 28, 1999.

During the fiscal year ended March 31, 2018, none of Series 35 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 35 had been used to invest in 11 Operating Partnerships in an aggregate amount of $24,002,391. As of March 31, 2018, 9 of the properties have been disposed of and 2 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 36). The Fund commenced offering BACs in Series 36 on June 22, 1999. The Fund received and accepted $21,068,375 representing 2,106,837 BACs from investors admitted as BAC holders in Series 36. Offer and sales of BACs in Series 36 were completed on September 28, 1999.

During the fiscal year ended March 31, 2018, none of Series 36 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 36 had been used to invest in 11 Operating Partnerships in an aggregate amount of $15,277,041. As of March 31, 2018, 8 of the properties have been disposed of and 3 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

(Series 37). The Fund commenced offering BACs in Series 37 on October 29, 1999. The Fund received and accepted $25,125,000 representing 2,512,500 BACs from investors admitted as BAC holders in Series 37. Offer and sales of BACs in Series 37 were completed on January 28, 2000.

During the fiscal year ended March 31, 2018, none of Series 37 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 37 had been used to invest in 7 Operating Partnerships in an aggregate amount of $18,735,142. As of March 31, 2018, 6 of the properties has been disposed of and 1 remains. The Fund had completed payment of all installments of its capital contributions to 6 of the Operating Partnerships. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

44

(Series 38). The Fund commenced offering BACs in Series 38 on February 1, 2000. The Fund received and accepted $25,431,000 representing 2,543,100 BACs from investors admitted as BAC holders in Series 38. Offer and sales of BACs in Series 38 were completed on July 31, 2000.

During the fiscal year ended March 31, 2018, none of Series 38 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 38 had been used to invest in 10 Operating Partnerships in an aggregate amount of $18,612,287. As of March 31, 2018, 6 of the properties have been disposed of and 4 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

During the fiscal year ended March 31, 2002, the Fund used $420,296 of Series 38 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. The series is entitled to a percentage of the profits, losses and tax credits of the limited liability company. The investment is reported in the Investment in Operating Limited Partnerships line item on the balance sheet.

(Series 39). The Fund commenced offering BACs in Series 39 on August 1, 2000. The Fund received and accepted $22,921,000 representing 2,292,152 BACs from investors admitted as BAC holders in Series 39. Offer and sales of BACs in Series 39 were completed on January 31, 2001.

During the fiscal year ended March 31, 2018, none of Series 39 net offering proceeds to were used to pay installments of its capital contributions to the Operating Partnership. Proceeds from the offer and sale of BACs in Series 39 had been used to invest in 9 Operating Partnerships in an aggregate amount of $17,115,492. As of March 31, 2018, all 9 of the properties have been disposed. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

During the fiscal year ended March 31, 2002, the Fund used $192,987 of Series 39 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. The series is entitled to a percentage of the profits, losses and tax credits of the limited liability company. The investment is reported in the Investment in Operating Limited Partnerships line item on the balance sheet.

(Series 40). The Fund commenced offering BACs in Series 40 on February 1, 2001. The Fund received and accepted $26,269,250 representing 2,630,256 BACs from investors admitted as BAC holders in Series 40. Offer and sales of BACs in Series 40 were completed on July 31, 2001.

During the fiscal year ended March 31, 2018, none of Series 40 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 40 had been used to invest in 16 Operating Partnerships in an aggregate amount of $19,030,772. As of March 31, 2018, 7 of the properties have been disposed of and 9 remain. The Fund had completed payment of all installments of its capital contributions to 15 of the Operating Partnerships. Series 40 has outstanding contributions payable to 1 Operating Partnership in the amount of $102 as of March 31, 2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

45

During the fiscal year ended March 31, 2002, the Fund used $578,755 of Series 40 net offering proceeds to acquire 5 limited partnership equity interests in limited liability companies, which are the general partners of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. The series is entitled to a percentage of the profits, losses and tax credits of the limited liability companies. The investment is reported in the Investment in Operating Limited Partnerships line item on the balance sheet.

(Series 41). The Fund commenced offering BACs in Series 41 on August 1, 2001. The Fund received and accepted $28,916,260 representing 2,891,626 BACs from investors admitted as BAC holders in Series 41. Offer and sales of BACs in Series 41 were completed on January 31, 2002.

During the fiscal year ended March 31, 2018, none of Series 41 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 41 had been used to invest in 23 Operating Partnerships in an aggregate amount of $21,278,631. As of March 31, 2018, 11 of the properties have been disposed of and 12 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

During the fiscal year ended March 31, 2002, the Fund used $195,249 of Series 41 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. The series is entitled to a percentage of the profits, losses and tax credits of the limited liability company. The investment is reported in the Investment in Operating Limited Partnerships line item on the balance sheet.

(Series 42). The Fund commenced offering BACs in Series 42 on February 1, 2002. The Fund received and accepted $27,442,620 representing 2,744,262 BACs from investors admitted as BAC holders in Series 42. Offer and sales of BACs in Series 42 were completed on July 31, 2002.

During the fiscal year ended March 31, 2018, $9,503 of Series 42 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 42 had been used to invest in 23 Operating Partnerships in an aggregate amount of $20,661,120. As of March 31, 2018, 12 of the properties has been disposed of and 11 remain. The Fund had completed payment of all installments of its capital contributions to 22 Operating Partnerships. Series 42 has outstanding contributions payable to 1 Operating Partnership in the amount of $254 as of March 31, 2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

(Series 43). The Fund commenced offering BACs in Series 43 on August 1, 2002. The Fund received and accepted $36,379,870 representing 3,637,987 BACs from investors admitted as BAC holders in Series 43. Offer and sales of BACs in Series 43 were completed on December 31, 2002.

46

During the fiscal year ended March 31, 2018, $9,508 of Series 43 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 43 had been used to invest in 23 Operating Partnerships in an aggregate amount of $27,400,154. As of March 31, 2018, 6 of the properties has been disposed of and 17 remain. The Fund had completed payment of all installments of its capital contributions to 22 of the Operating Partnerships. Series 43 has outstanding contributions payable to 1 Operating Partnership in the amount of $26,082 as of March 31, 2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

During the fiscal year ended March 31, 2005, the Fund used $268,451 of Series 43 net offering proceeds to acquire 1 limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. During the fiscal year ended March 31, 2003, the Fund used $805,160 of Series 43 net offering proceeds to acquire 7 limited partnership equity interests in limited liability companies, which are the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. The series is entitled to a percentage of the profits, losses and tax credits of the limited liability companies. The investments are reported in the Investment in Operating Limited Partnerships line item on the balance sheet.

(Series 44). The Fund commenced offering BACs in Series 44 on January 14, 2003. The Fund received and accepted $27,019,730 representing 2,701,973 BACs from investors admitted as BAC holders in Series 44. Offer and sales of BACs in Series 44 were completed on April 30, 2003.

During the fiscal year ended March 31, 2018, none of Series 44 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 44 had been used to invest in 10 Operating Partnerships in an aggregate amount of $20,248,519. As of March 31, 2018, 3 of the properties have been disposed of and 7 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

During the fiscal year ended March 31, 2004, the Fund used $164,164 of Series 44 net offering proceeds to acquire 1 limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. The series is entitled to a percentage of the profits, losses and tax credits of the limited liability company. The investment is reported in the Investment in Operating Limited Partnerships line item on the balance sheet.

(Series 45). The Fund commenced offering BACs in Series 45 on July 1, 2003. The Fund received and accepted $40,143,670 representing 4,014,367 BACs from investors admitted as BAC holders in Series 45. Offer and sales of BACs in Series 45 were completed on September 16, 2003.

During the fiscal year ended March 31, 2018, none of Series 45 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 45 had been used to invest in 31 Operating Partnerships in an aggregate amount of $30,232,512. As of March 31, 2018, 5 of the properties has been disposed of and 26 remain. The Fund had completed payment of all installments of its capital contributions to 30 of the Operating Partnerships. Series 45 has outstanding contributions payable to 1 Operating Partnership in the amount of $16,724 as of March 31, 2018. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

47

During the fiscal year ended March 31, 2004, the Fund used $302,862 of Series 45 net offering proceeds to acquire 1 limited partnership equity interest in limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. The series is entitled to a percentage of the profits, losses and tax credits of the limited liability company. The investment is reported in the Investment in Operating Limited Partnerships line item on the balance sheet.

(Series 46). The Fund commenced offering BACs in Series 46 on September 23, 2003. The Fund received and accepted $29,809,980 representing 2,980,998 BACs from investors admitted as BAC holders in Series 46. Offer and sales of BACs in Series 46 were completed on December 19, 2003.

During the fiscal year ended March 31, 2018, none of Series 46 net offering proceeds were used to pay installments of its capital contributions to the Operating Partnerships. Proceeds from the offer and sale of BACs in Series 46 had been used to invest in 15 Operating Partnerships in an aggregate amount of $22,495,082. As of March 31, 2018, 1 of the properties have been disposed of and 14 remain. The Fund had completed payment of all installments of its capital contributions to all of the Operating Partnerships.

During the fiscal year ended March 31, 2004, the Fund used $228,691 of Series 46 net offering proceeds to acquire 1 limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. The series is entitled to a percentage of the profits, losses and tax credits of the limited liability company. The investment is reported in the Investment in Operating Limited Partnerships line item on the balance sheet.

48

Results of Operations

The Fund incurs a fund management fee to the general partner and/or its affiliates in an amount equal to 0.5% of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of partnership management and reporting fees paid by the Operating Partnerships. The annual fund management fee incurred, net of fees received, for the fiscal years ended March 31, 2018 and 2017 was $1,994,955 and 2,469,863, respectively.

The Fund's investment objectives do not include receipt of significant cash flow distributions from the Operating Partnerships in which it has invested or intends to invest. The Fund's investments in Operating Partnerships have been and will be made principally with a view towards realization of Federal Housing Tax Credits for allocation to its partners and BAC holders.

As funds are utilized by the individual series for payment of fund management fees, operating expenses and capital contributions to the Operating Partnerships, it is anticipated that the “cash and cash equivalents” amounts for each series will decrease. As a result of the reduction, it is expected that interest income reported by each series will begin to decrease after the first full year of operations. Occasionally the Fund will make interest-bearing loans to Operating Partnerships against contributions due for release at a later date.

(Series 20). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 2 Operating Partnerships at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $645,901 and $356,996, respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 20 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $(6,894) and $65,321, respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In March 2016, the operating general partner of Franklinton Elderly Housing entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on June 14, 2016. The sales price of the property was $1,655,869, which included the outstanding mortgage balance of approximately $1,514,869 and cash proceeds to the investment partnership of $141,000. Of the total proceeds received by the investment partnership, $3,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $138,000 were returned to cash reserves held by Series 20. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $138,000 as of September 30, 2016.

49

In December 2017, the investment general partner transferred its interest in Fair Oaks Lane Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,279,482 and cash proceeds to the investment partnership of $44,000. Of the total proceeds received, $2,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $42,000 were returned to cash reserves held by Series 20. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $42,000 as of December 31, 2017.

In April 2018, the investment general partner of Boston Capital Tax Credit Fund III – Series 18 and Series 20 transferred their respective interests in Virginia Avenue Affordable Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $499,989 and cash proceeds to the investment partnerships of $823,080 and $156,777 for Series 18 and Series 20, respectively. Of the total proceeds received, $7,560 and $1,440, for Series 18 and Series 20, respectively, will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $815,520 and $155,337, for Series 18 and Series 20, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution.

(Series 21). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 0 properties at March 31, 2018.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $710,545 and $(236,839) respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 21 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

50

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $9,244 and $(44,938), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the general and administrative expenses.

In November 2017, the investment general partner transferred its interest in Better Homes of Havelock Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,591,112 and cash proceeds to the investment partnership of $60,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $57,500 were returned to cash reserves held by Series 21. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $57,500 as of December 31, 2017.

In December 2017, the investment general partner transferred its interest in Liveoak Village Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $672,305 and cash proceeds to the investment partnership of $12,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $9,500 were returned to cash reserves held by Series 21. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $9,500 as of December 31, 2017.

(Series 22). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had total of 3 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $(126,433) and $406,626, respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

51

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 22 was $0. By using the equity method, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $(59,412) and $(72,794), respectively. The major components of these amounts are the Fund's fund management fee and the general and administrative expenses.

(Series 23). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $(825,412) and $(391,208), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 23 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $943,256 and $402,128, respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In June 2016, the investment general partner of Boston Capital Tax Credit Fund III - Series 16 and Series 23 transferred their respective interests in Mid City Associates Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $4,890,361 and cash proceeds to the investment partnerships of $124,955 and $4,545, for Series 16 and Series 23, respectively. Of the total proceeds received, $27,340 and $995, for Series 16 and Series 23, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $97,615 and $3,550, for Series 16 and Series 23, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded in the amount of $97,615 and $3,550, for Series 16 and Series 23, respectively, as of June 30, 2016.

52

In March 2017, the investment general partner transferred its interest in Colonna Redevelopment Company to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $375,000 and cash proceeds to the investment partnership of $500,000. Of the total proceeds received, $15,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $485,000 were returned to cash reserves held by Series 23. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $485,000 as of March 31, 2017.

In January 2017, the operating general partner of Sacramento SRO Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on April 21, 2017. The sales price of the property was $3,800,000, which included the outstanding mortgage balance of approximately $2,701,113 and cash proceeds to the investment partnership of $964,665. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $959,665 were returned to cash reserves held by Series 23. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $959,665 as of June 30, 2017. In October 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership’s cash in the amount of $30,297 which was returned to the cash reserves.

(Series 24). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 5 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $(306,338) and $(293,139), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017 Investments in Operating Partnerships for Series 24 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017 the net income (loss) of the Series was $21,331 and $(75,371), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

53

In March 2018, the operating general partner of Woodland Associates Limited Partnership sold the property to an entity affiliated with the operating general partner. The sales price of the property was $1,295,876, which included the outstanding mortgage balance of approximately $1,038,276 and cash proceeds to the investment partnership of $100,000. Of the total proceeds received by the investment partnership, $5,000 will be paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $95,000 will be returned to cash reserves held by Series 24. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $95,000 as of March 31, 2018.

(Series 25). As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 0 properties at March 31, 2018.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $185,994 and $(165,688), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 25 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $34,406 and $(51,336), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the general and administrative expenses.

In September 2017, the investment general partner transferred its interest in Ethel Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $736,238 and cash proceeds to the investment partnership of $21,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $19,500 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $19,500 as of September 30, 2017.

54

In August 2017, the investment general partner transferred its interest in Horse Cave Family Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $753,559 and cash proceeds to the investment partnership of $12,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $9,500 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $9,500 as of September 30, 2017.

In September 2017, the investment general partner transferred its interest in Shannon Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,157,526 and cash proceeds to the investment partnership of $36,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $34,500 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $34,500 as of September 30, 2017.

In September 2017, the investment general partner transferred its interest in West Point Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $638,133 and cash proceeds to the investment partnership of $35,311. Of the total proceeds received, $1,412 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $33,899 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $33,899 as of September 30, 2017.

55

(Series 26). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 9 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $725,988 and $(741,373), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 26 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $(35,421) and $(126,723), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In July 2016, the investment general partner transferred its interest in Holly Hills Properties, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $794,392 and cash proceeds to the investment partnership of $22,500. Of the total proceeds received, $4,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $18,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $18,500 as of September 30, 2016.

In September 2017, the investment general partner transferred its interest in Mason Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $849,683 and cash proceeds to the investment partnership of $18,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $16,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $16,500 as of September 30, 2017.

56

In September 2017, the investment general partner transferred its interest in Maxton Green Associates Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $802,661 and cash proceeds to the investment partnership of $16,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $14,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $14,500 as of September 30, 2017.

In September 2017, the investment general partner transferred its interest in Meridian Housing Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $651,291 and cash proceeds to the investment partnership of $36,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $34,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $34,500 as of September 30, 2017.

In September 2017, the investment general partner transferred its interest in Timmonsville Green Associates Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $970,535 and cash proceeds to the investment partnership of $16,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $14,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $14,500 as of September 30, 2017.

57

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Beckwood Manor One Limited Partnership

Southwind Apartments, A L.D.H.A.

T.R. Bobb Apartments Partnership, A L.D.H.A.

Brookhaven Apartments Partnership, A LP

Beauregard Apartments Partnership, A L.D.H.A.

Warrensburg Heights L.P.

(Series 27). As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $4,873,862 and $3,231,199, respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 27 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $3,225,133 and $2,675,164, respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the professional fee.

In February 2016, the operating general partner of Centrum - Fairfax II LP entered into an agreement to sell the property to an entity affiliated with the operating general partner and the transaction closed on June 20, 2016. The sales price of the property was $9,550,000, which included the outstanding mortgage balance of approximately $4,907,553 and cash proceeds to the investment partnership of $3,000,000. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $2,995,000 will be returned to cash reserves held by Series 27. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $2,995,000 as of June 30, 2016.

58

In July 2016, the investment general partner transferred its interest in Sunday Sun Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $794,703 and cash proceeds to the investment partnership of $25,000. Of the total proceeds received, $4,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $21,000 were returned to cash reserves held by Series 27. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $21,000 as of September 30, 2016.

In October 2016, the investment general partner transferred 50% of its interest in Canisteo Manor, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $438,188 and nominal cash proceeds to the investment partnership. There were no cash proceeds available to pay expenses related to the transfer and no proceeds were returned to cash reserves held by Series 27. The remaining 50% investment limited partner interest in the Operating Partnership was transferred in November 2017 for the assumption of approximately $438,188 of the remaining outstanding mortgage balance and nominal consideration. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership has been recorded.

In December 2016, the operating general partner of Wayne Housing Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on April 27, 2017. The sales price of the property was $12,800,000, which included the outstanding mortgage balance of approximately $5,844,046 and cash proceeds to the investment partnership of $3,291,567 which were returned to cash reserves held by Series 27. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $3,291,567 as of June 30, 2017.

59

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

Angelou Court

(Series 28). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 5 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $(157,718) and $(256,704), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 28 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $(69,919) and $(64,444), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In June 2016, the investment general partner transferred its interest in Senior Suites Chicago Austin Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,875,732 and cash proceeds to the investment partnership of $10,000. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $5,000 were returned to cash reserves held by Series 28. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $5,000 as of June 30, 2016.

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

Maplewood Apartments Partnership, A LA Partnership

60

(Series 29). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 7 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016 the series, in total, generated $(573,844) and $(592,225), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 29 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $203,747 and $(173,797), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In November 2017, the operating general partner of Harbor Pointe/MHT LDHA Limited Partnership entered into an agreement to sell the property a non-affiliated entity and the transaction closed on February 6, 2018. The sales price of the property was $1,900,000, which included the outstanding mortgage balance of approximately $1,129,405 and cash proceeds to the investment partnerships of $300,283 and $108,265 for Series 29 and Series 33, respectively. Of the total proceeds received by the investment partnerships, $3,675 and $1,325 for Series 29 and Series 33, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $296,608 and $106,940 for Series 29 and Series 33, respectively, will be returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $296,608 and $106,940 for Series 29 and Series 33, respectively as of March 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $7,350 and $2,650 for Series 29 and Series 33, respectively, was recorded as gain on the sale of the Operating Partnership as of March 31, 2018.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Edgewood Apartments Partnership, A Louisiana Partnership

Westfield Apartments Partnership, A Louisiana Partnership

The Lincoln Hotel

Poplarville Housing Inc.

61

(Series 30). As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 5 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $544,894 and $(589,882), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 30 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $240,789 and $(103,851), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the general and administrative expenses.

In February 2017, the operating general partner of Linden Partners II, LLC entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on April 28, 2017. The sales price of the property was $1,125,000, which included the outstanding mortgage balance of approximately $681,507 and cash proceeds to the investment partnership of $192,168. Of the total proceeds received by the investment partnership, $40,738 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the sale. Of the remaining proceeds, $3,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $148,430 were returned to cash reserves held by Series 30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $148,430 as of June 30, 2017. In July 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership’s cash in the amount of $2,091 which was returned to the cash reserves.

In June 2017, the investment general partner transferred its interest in C.V.V.A. Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $1,432,770 and cash proceeds to the investment partnership of $78,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $75,500 were returned to cash reserves held by Series 30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. The transfer proceeds were not received as of June 30, 2017, so a receivable in the amount of $75,500 was recorded. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $75,500 as of June 30, 2017. In addition, equity outstanding for the Operating Partnership in the amount of $39,963 for Series 30 was recorded as gain on the transfer of the Operating Partnership as of June 30, 2017.

62

In March 2018, the investment general partner transferred its interest in Bellwood Four Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $578,951 and cash proceeds to the investment partnership of $14,000. Of the total proceeds received, $3,500 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $10,500 were returned to cash reserves held by Series 30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $10,500 as of March 31, 2018.

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

JMC Limited Liability Company

(Series 31). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 8 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $(286,543) and $973,247, respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 31 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $(75,968) and $698,887, respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

63

In December 2016, the investment general partner transferred its interest in Eagles Ridge Terrace Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,391,732 and cash proceeds to the investment partnership of $72,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $69,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $69,500 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Henderson Terrace Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $399,366 and cash proceeds to the investment partnership of $19,200. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $16,700 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $16,700 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Lakeview Little Elm Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $340,752 and cash proceeds to the investment partnership of $19,200. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $16,700 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $16,700 as of December 31, 2016.

64

In December 2016, the investment general partner transferred its interest in Mesquite Trails Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $523,176 and cash proceeds to the investment partnership of $28,800. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $26,300 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $26,300 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Pilot Point Apartments, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $587,525 and cash proceeds to the investment partnership of $32,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $29,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $29,500 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Seagraves Apartments, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $354,789 and cash proceeds to the investment partnership of $12,800. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $10,300 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $10,300 as of December 31, 2016.

65

In November 2016, the investment general partner transferred its interest in Silver Creek Apartments/MHT, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,332,447 and cash proceeds to the investment partnership of $627,947. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $622,947 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. The transfer proceeds were received in the first quarter of 2017; so a receivable in the amount of $622,947 was recorded as of December 31, 2016. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $622,947 as of December 31, 2016. In March 2017, the investment partnership received additional proceeds for its share of the Operating Partnership’s cash in the amount of $85,464, which were returned to the cash reserves held by the Series.

In September 2017, the investment general partner transferred its interest in Ellisville Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $508,068 and cash proceeds to the investment partnership of $24,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $22,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $22,500 as of September 30, 2017.

66

In September 2017, the investment general partner transferred its interest in Hattiesburg Housing, Inc. to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $773,195 and cash proceeds to the investment partnership of $24,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $22,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $22,500 as of September 30, 2017.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Canton Housing One, L.P.

Canton Housing Two, L.P.

Canton Housing Three, L.P.

Canton Housing Four, L.P.

(Series 32). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 6 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $(2,075,029) and $(1,402,752), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 32 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $1,576,107 and $374,024, respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In December 2016, the investment general partner transferred its interest in Indiana Development Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,129,504 and cash proceeds to the investment partnership of $47,500. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $45,000 were returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $45,000 as of December 31, 2016.

67

In December 2016, the investment general partner transferred its interest in Granada Rose, Limited Partnership, a Texas Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $124,650 and cash proceeds to the investment partnership of $6,400. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $3,900 were returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $3,900 as of December 31, 2016.

In November 2016, the operating general partner of Cogic Village LDHA Limited Partnership entered into an agreement to sell the property to an unrelated third party buyer and the transaction closed on February 8, 2017. The sales price of the property was $3,275,000, which included the outstanding mortgage balance of approximately $1,991,521, and cash proceeds to the investment partnership of $522,652. Of the total proceeds received by the investment partnership, $2,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $520,652 were returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $520,652 as of March 31, 2017. In June 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership’s cash in the amount of $14,506 which was returned to the cash reserves.

68

In July 2017, the operating general partner of Courtside Housing Associates, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on September 12, 2017. The sales price of the property was $3,625,000, which included the outstanding mortgage balance of approximately $600,000 and cash proceeds to the investment partnership of $1,536,999. Of the total proceeds received by the investment partnership, $3,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,533,999 were returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $1,533,999 as of September 30, 2017.

In August 2015, the operating general partner of Pearl Partners, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on October 1, 2015. In December 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership’s cash in the amount of $128,747 which was returned to the cash reserves.

In January 2018, the operating general partner of Pyramid Four Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on May 17, 2018. The sales price of the property was $1,536,000, which included the outstanding mortgage balance of approximately $388,399 and cash proceeds to the investment partnership of $492,880. Of the total proceeds received by the investment partnership, $5,000 will be paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $487,880 will be returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Pecan Manor Apartments

Parkside Plaza, LLP

(Series 33). As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $(365,254) and $(1,234,847), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 33 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

69

For the years ended March 31, 2018 and 2017, the net income (loss) of the Series was $121,295 and $(94,282), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In October 2017, the investment general partner transferred their respective interests in Stearns Assisted Housing Associates to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $435,500 and cash proceeds to the investment partnerships of $1,583 and $3,295 for Series 33 and Series 37, respectively. Of the total proceeds received, $633 and $1,318 for Series 33 and Series 37, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $950 and $1,977 for Series 33 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $950 and $1,977 for Series 33 and Series 37, respectively, as of December 31, 2017. In addition, equity outstanding for the Operating Partnership in the amount of $66,504 and $138,438 for Series 33 and Series 37, respectively, was recorded as gain on the transfer of the Operating Partnership as of December 31, 2017.

In November 2017, the operating general partner of Harbor Pointe/MHT LDHA Limited Partnership entered into an agreement to sell the property a non-affiliated entity and the transaction closed on February 6, 2018. The sales price of the property was $1,900,000, which included the outstanding mortgage balance of approximately $1,129,405 and cash proceeds to the investment partnerships of $300,283 and $108,265 for Series 29 and Series 33, respectively. Of the total proceeds received by the investment partnerships, $3,675 and $1,325 for Series 29 and Series 33, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $296,608 and $106,940 for Series 29 and Series 33, respectively, will be returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $296,608 and $106,940 for Series 29 and Series 33, respectively as of March 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $7,350 and $2,650 for Series 29 and Series 33, respectively, was recorded as gain on the sale of the Operating Partnership as of March 31, 2018.

70

(Series 34). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 4 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $(695,941) and $(1,611,998), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017 Investments in Operating Partnerships for Series 34 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the Series was $(73,012) and $556,742, respectively. The major components of these amounts are the Fund's general and administrative expenses and the fund management fee.

In May 2016, the investment general partner transferred its interest in Northwood Homes, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $500,053 and cash proceeds to the investment partnership of $32,000. Of the total proceeds received, $4,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $27,500 were returned to cash reserves held by Series 34. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $27,500 as of June 30, 2016.

In July 2016, the investment general partner transferred its interest in Kerrville Meadows Apartments, Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $1,144,914 and cash proceeds to the investment partnership of $225,000. Of the total proceeds received, $10,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $215,000 were returned to cash reserves held by Series 34. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $215,000 as of September 30, 2016.

71

In December 2016, the investment general partner transferred their respective interests in Washington Courtyards Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,958,317 and cash proceeds to the investment partnerships of $394,536 and $165,090 for Series 34 and Series 35, respectively. Of the total proceeds received, $2,115 and $885 for Series 34 and Series 35, respectively, represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $4,230 and $1,770 for Series 34 and Series 35, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $388,191 and $162,435 for Series 34 and Series 35, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $388,191 and $162,435 for Series 34 and Series 35, respectively, as of December 31, 2016.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

RHP 96-I, L.P.

Belmont Affordable Housing II, LP

(Series 35). As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 2 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016 the series, in total, generated $1,142,786 and $(457,561), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 35 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $2,587,521 and $2,641,797, respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

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In March 2016, the operating general partner of Wedgewood Park Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on June 14, 2016. The sales price of the property was $13,900,000, which included the outstanding mortgage balance of approximately $4,364,386 and cash proceeds to the investment partnerships of $2,333,553 and $2,333,553 for Series 35 and Series 36, respectively. Of the total proceeds received by the investment partnerships, $37,500 and $37,500 for Series 35 and Series 36, respectively, represents reporting fees due to an affiliate of the investment partnerships and the balance represents proceeds from the sale. Of the remaining proceeds, $1,250 and $1,250 for Series 35 and Series 36, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $2,294,803 and $2,294,803 for Series 35 and Series 36, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $2,294,803 and $2,294,803 for Series 35 and Series 36, respectively, as of June 30, 2016. In September 2016, the investment partnership received additional proceeds for its share of the Operating Partnership’s cash in the amount of $85,949 and $85,949 for Series 35 and Series 36, respectively, which were returned to the cash reserves held by the Series. In January 2017, the investment partnership received additional proceeds for its share of the Operating Partnership’s cash in the amount of $12,121 and $12,121 for Series 35 and Series 36, respectively, which were returned to the cash reserves held by the Series.

In December 2016, the investment general partner transferred their respective interests in Washington Courtyards Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,958,317 and cash proceeds to the investment partnerships of $394,536 and $165,090 for Series 34 and Series 35, respectively. Of the total proceeds received, $2,115 and $885 for Series 34 and Series 35, respectively, represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $4,230 and $1,770 for Series 34 and Series 35, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $388,191 and $162,435 for Series 34 and Series 35, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $388,191 and $162,435 for Series 34 and Series 35, respectively, as of December 31, 2016.

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In November 2016, the operating general partner of Columbia Woods, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on February 6, 2017. The sales price of the property was $7,450,000, which included the outstanding mortgage balance of approximately $3,865,108 and cash proceeds to the investment partnerships of $168,307 and $422,243 for Series 35 and Series 37, respectively. Of the total proceeds received by the investment partnerships, $2,850 and $7,150 for Series 35 and Series 37, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $165,457 and $415,093 for Series 35 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $165,457 and $415,093 for Series 35 and Series 37, respectively, as of March 31, 2017.

In September 2017, the investment general partner transferred its interest in Cypress Point Housing Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,480,787 and cash proceeds to the investment partnership of $2,656,528. Of the total proceeds received, $3,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $2,653,528 were returned to cash reserves held by Series 35. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $2,653,528 as of September 30, 2017.

(Series 36). As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016 the series, in total, generated $(1,003,004) and $102,286, respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 36 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

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For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $(60,762) and $2,482,508, respectively. The major components of these amounts are the Fund's professional fees and the fund management fee.

In May 2016, the investment general partner transferred its interest in Paris Place Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,065,498 and cash proceeds to the investment partnership of $80,000. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $75,000 were returned to cash reserves held by Series 36. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $75,000 as of June 30, 2016.

In May 2016, the investment general partner transferred its interest in Valleyview Estates, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $259,710 and cash proceeds to the investment partnership of $50,000. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $45,000 were returned to cash reserves held by Series 36. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $45,000 as of June 30, 2016.

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In March 2016, the operating general partner of Wedgewood Park Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on June 14, 2016. The sales price of the property was $13,900,000, which included the outstanding mortgage balance of approximately $4,364,386 and cash proceeds to the investment partnerships of $2,333,553 and $2,333,553 for Series 35 and Series 36, respectively. Of the total proceeds received by the investment partnerships, $37,500 and $37,500 for Series 35 and Series 36, respectively, represents reporting fees due to an affiliate of the investment partnerships and the balance represents proceeds from the sale. Of the remaining proceeds, $1,250 and $1,250 for Series 35 and Series 36, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $2,294,803 and $2,294,803 for Series 35 and Series 36, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $2,294,803 and $2,294,803 for Series 35 and Series 36, respectively, as of June 30, 2016. In September 2016, the investment partnership received additional proceeds for its share of the Operating Partnership’s cash in the amount of $85,949 and $85,949 for Series 35 and Series 36, respectively, which were returned to the cash reserves held by the Series. In January 2017, the investment partnership received additional proceeds for its share of the Operating Partnership’s cash in the amount of $12,121 and $12,121 for Series 35 and Series 36, respectively, which were returned to the cash reserves held by the Series.

In June 2016, the investment general partner of Series 36 and Series 37 transferred their respective interests in Senior Suites Chicago Washington Heights Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $4,321,470 and cash proceeds to the investment partnerships of $5,000 and $5,000 for Series 36 and Series 37, respectively. Of the total proceeds received, $2,500 and $2,500 for Series 36 and Series 37, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $2,500 and $2,500 for Series 36 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $2,500 and $2,500 for Series 36 and Series 37, respectively, as of June 30, 2016.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Wingfield Apartments Limited Partnership

Ashton Ridge L.D.H.A., L.P.

(Series 37). As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 1 property at March 31, 2018, which was at 100% Qualified Occupancy.

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For the tax years ended December 31, 2017 and 2016, the series, in total, generated $(1,288,187) and $1,112,818, respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 37 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $90,852 and $2,213,042, respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In December 2016, the investment general partner transferred their respective interests in Baldwin Villas Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $5,226,317 and no cash proceeds to the investment partnerships and no cash proceeds returned to the cash reserves held by Series 37, Series 40 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership has been recorded as of December 31, 2016.

In June 2016, the investment general partner of Series 36 and Series 37 transferred their respective interests in Senior Suites Chicago Washington Heights Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $4,321,470 and cash proceeds to the investment partnerships of $5,000 and $5,000 for Series 36 and Series 37, respectively. Of the total proceeds received, $2,500 and $2,500 for Series 36 and Series 37, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $2,500 and $2,500 for Series 36 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $2,500 and $2,500 for Series 36 and Series 37, respectively, as of June 30, 2016.

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In September 2016, the investment general partner transferred its interest in FAH Silver Pond Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $2,695,732 and cash proceeds to the investment partnership of $1,932,139. The proceeds of approximately $1,932,139 were returned to cash reserves held by Series 37. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer has been recorded in the amount of $1,932,139 as of September 30, 2016.

In November 2016, the operating general partner of Columbia Woods, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on February 6, 2017. The sales price of the property was $7,450,000, which included the outstanding mortgage balance of approximately $3,865,108 and cash proceeds to the investment partnerships of $168,307 and $422,243 for Series 35 and Series 37, respectively. Of the total proceeds received by the investment partnerships, $2,850 and $7,150 for Series 35 and Series 37, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $165,457 and $415,093 for Series 35 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $165,457 and $415,093 for Series 35 and Series 37, respectively, as of March 31, 2017.

In October 2017, the investment general partner transferred their respective interests in Stearns Assisted Housing Associates to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $435,500 and cash proceeds to the investment partnerships of $1,583 and $3,295 for Series 33 and Series 37, respectively. Of the total proceeds received, $633 and $1,318 for Series 33 and Series 37, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $950 and $1,977 for Series 33 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $950 and $1,977 for Series 33 and Series 37, respectively, as of December 31, 2017. In addition, equity outstanding for the Operating Partnership in the amount of $66,504 and $138,438 for Series 33 and Series 37, respectively, was recorded as gain on the transfer of the Operating Partnership as of December 31, 2017.

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The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

Ashton Ridge L.D.H.A., L.P.

(Series 38). As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 4 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $(1,341,263) and $1,760,700, respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 38 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $(46,425) and $3,212,273, respectively. The major components of these amounts are the Fund's professional fees and the fund management fee.

In November 2016, the operating general partner of Columbia Creek, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on January 3, 2017. The sales price of the property was $12,700,000, which included the outstanding mortgage balance of approximately $4,897,221 and cash proceeds to the investment partnerships of $1,112,310 and $1,157,711 for Series 38 and Series 39, respectively. Of the total proceeds received by the investment partnerships, $4,900 and $5,100 for Series 38 and Series 39, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,107,410 and $1,152,611 for Series 38 and Series 39, respectively, were returned to cash reserves held by Series 38 and Series 39, respectively. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $1,107,410 and $1,152,611 for Series 38 and Series 39, respectively, as of March 31, 2017.

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In June 2016, the operating general partner of Andover Housing Associates Limited Partnership entered into an agreement to sell the property to a non-affiliated third party buyer and the transaction closed on November 15, 2016. The sales price of the property was $4,402,000, which included the outstanding mortgage balance of approximately $2,136,141 and cash proceeds to the investment partnership of $1,790,410. Of the total proceeds received by the investment partnership, $2,500 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,787,910 was returned to cash reserves held by Series 38. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $1,787,910 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Edna Vanderbilt, LP, A Texas Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $216,530 and cash proceeds to the investment partnership of $9,600. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $7,100 were returned to cash reserves held by Series 38. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $7,100 as of December 31, 2016.

In October 2016, the operating general partner of Arbors at Eagle Crest LDHA LP entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on January 26, 2017. The sales price of the property was $3,700,000, which included the outstanding mortgage balance of approximately $2,078,128 and cash proceeds to the investment partnerships of $377,821 and $377,821 for Series 38 and Series 39, respectively. Of the total proceeds received by the investment partnerships, $6,543 and $6,543 for Series 38 and Series 39, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $371,278 and $371,278 for Series 38 and Series 39, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $371,278 and $371,278 for Series 38 and Series 39, respectively, as of March 31, 2017.

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(Series 39). As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 0 property at March 31, 2018.

For the tax years ended December 31, 2017 and 2016 the series, in total, generated $(1,900,572) and $(1,734,146), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 39 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $(48,069) and $1,554,531, respectively. The major components of these amounts are the Fund's general and administrative expenses and the fund management fee.

In November 2016, the operating general partner of Columbia Creek, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on January 3, 2017. The sales price of the property was $12,700,000, which included the outstanding mortgage balance of approximately $4,897,221 and cash proceeds to the investment partnerships of $1,112,310 and $1,157,711 for Series 38 and Series 39, respectively. Of the total proceeds received by the investment partnerships, $4,900 and $5,100 for Series 38 and Series 39, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,107,410 and $1,152,611 for Series 38 and Series 39, respectively, were returned to cash reserves held by Series 38 and Series 39, respectively. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $1,107,410 and $1,152,611 for Series 38 and Series 39, respectively, as of March 31, 2017

In May 2016, the investment general partner transferred its interest in Hillview, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $771,823 and cash proceeds to the investment partnership of $25,500. Of the total proceeds received, $3,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $22,500 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $22,500 as of June 30, 2016.

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In July 2016, the investment general partner transferred its interest in Daystar Village, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $634,353 and cash proceeds to the investment partnership of $75,000. Of the total proceeds received, $4,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $70,500 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $70,500 as of September 30, 2016.

In August 2016, the investment general partner transferred its interest in Tally Ho Apartments Partnership, A Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $479,836 and cash proceeds to the investment partnership of $22,100. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $17,100 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $17,100 as of September 30, 2016.

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In July 2016, the investment general partner transferred its interest in Austin Acres, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $793,420 and cash proceeds to the investment partnership of $16,000. Of the total proceeds received, $4,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $12,000 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $12,000 as of September 30, 2016.

In October 2016, the operating general partner of Arbors at Eagle Crest LDHA LP entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on January 26, 2017. The sales price of the property was $3,700,000, which included the outstanding mortgage balance of approximately $2,078,128 and cash proceeds to the investment partnerships of $377,821 and $377,821 for Series 38 and Series 39, respectively. Of the total proceeds received by the investment partnerships, $6,543 and $6,543 for Series 38 and Series 39, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $371,278 and $371,278 for Series 38 and Series 39, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $371,278 and $371,278 for Series 38 and Series 39, respectively, as of March 31, 2017.

In December 2017, the investment general partner transferred its interest in Timber Trails I Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $717,617 and cash proceeds to the investment partnership of $22,779. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $17,779 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $17,779 as of December 31, 2017.

83

(Series 40). As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 9 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016 the series, in total, generated $(732,399) and $(3,311,691), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 40 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $454,012 and $(79,129), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In December 2016, the investment general partner transferred their respective interests in Baldwin Villas Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $5,226,317 and no cash proceeds to the investment partnerships and no cash proceeds returned to the cash reserves held by Series 37, Series 40 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership has been recorded as of December 31, 2016.

In May 2016, the investment general partner transferred its interest in Londontown Homes, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $385,627 and cash proceeds to the investment partnership of $25,000. Of the total proceeds received, $4,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $20,500 were returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $20,500 as of June 30, 2016.

84

In July 2016, the investment general partner transferred its interest in Southbrook Homes, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $333,131 and cash proceeds to the investment partnership of $32,500. Of the total proceeds received, $4,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $28,500 were returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $28,500 as of September 30, 2016.

In January 2017, the investment general partner transferred its interest in Azle Fountainhead, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $924,937 and cash proceeds to the investment partnership of $47,200. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $44,700 were returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $44,700 as of March 31, 2017.

In August 2017, the investment general partner transferred their respective interests in Springfield Metro, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $23,195,469 and cash proceeds to the investment partnerships of $589,289 and $720,242 for Series 40 and Series 41, respectively. Of the total proceeds received, $337 and $413 for Series 40 and Series 41, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $588,952 and $719,829 for Series 40 and Series 41, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $588,952 and $719,829 for Series 40 and Series 41, respectively, as of September 30, 2017.

85

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

MA No 2 LLC

Center Place Apartments II Limited Partnership

Oakland Partnership

(Series 41) As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 12 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016, the series, in total, generated $(488,501) and $(1,134,752), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 for both years in tax credits per BAC to the investors.

As of March 31, 2018 and 2017, Investments in Operating Partnerships for Series 41 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For years ended March 31, 2018 and 2017, the net income (loss) of the series was $814,281 and $(137,219), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In November 2017, the operating general partner of Harbor Pointe II/MHT LDHA Limited Partnership entered into an agreement to sell the property a non-affiliated entity and the transaction closed on February 6, 2018. The sales price of the property was $1,300,000, which included the outstanding mortgage balance of approximately $1,234,960 and nominal cash proceeds to the investment partnerships Series 41, Series 42 and Series 45, respectively. There were no cash proceeds available to pay expenses related to the sale and no proceeds were returned to cash reserves held by Series 41, Series 42 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the sale of the Operating Partnership was recorded for Series 41, Series 42 and Series 45, respectively, as of March 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $100 for Series 41 was recorded as gain on the sale of the Operating Partnership as of March 31, 2018.

In March 2017, the investment general partner transferred its interest in Sunshine Village Apartments, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $680,145 and cash proceeds to the investment partnership of $75,000. Of the total proceeds received, $4,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $70,500 were returned to cash reserves held by Series 41. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $70,500 as of March 31, 2017.

86

In August 2017, the investment general partner transferred their respective interests in Springfield Metro, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $23,195,469 and cash proceeds to the investment partnerships of $589,289 and $720,242 for Series 40 and Series 41, respectively. Of the total proceeds received, $337 and $413 for Series 40 and Series 41, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $588,952 and $719,829 for Series 40 and Series 41, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $588,952 and $719,829 for Series 40 and Series 41, respectively, as of September 30, 2017.

In December 2017, the investment general partner transferred its interest in Bienville Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $677,463 and cash proceeds to the investment partnership of $18,179. Of the total proceeds received, $1,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $17,179 were returned to cash reserves held by Series 41. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $17,179 as of December 31, 2017.

87

In December 2017, the investment general partner transferred its interest in Red Hill Apartments I Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $753,606 and cash proceeds to the investment partnership of $46,879. Of the total proceeds received, $1,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $45,879 were returned to cash reserves held by Series 41. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $45,879 as of December 31, 2017.

In January 2018, the investment general partner transferred their respective interests in San Diego/Fox Hollow, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $7,277,023 and cash proceeds to the investment partnerships of $245,497, $166,126 and $343,581 for Series 41, Series 42 and Series 43, respectively. Of the total proceeds received, $1,625, $1,100 and $2,275 for Series 41, Series 42 and Series 43, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, as of March 31, 2018.

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

Madison Housing Associates Two, LP

(Series 42). As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 11 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016 the series, in total, generated $(998,179) and $(3,176,425), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 and $0.02, respectively, in tax credits per BAC to the investors.

88

As of March 31, 2018 and 2017 Investments in Operating Partnerships for Series 42 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017 the net income (loss) of the series was $265,175 and $(199,189), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In November 2017, the operating general partner of Harbor Pointe II/MHT LDHA Limited Partnership entered into an agreement to sell the property a non-affiliated entity and the transaction closed on February 6, 2018. The sales price of the property was $1,300,000, which included the outstanding mortgage balance of approximately $1,234,960 and nominal cash proceeds to the investment partnerships Series 41, Series 42 and Series 45, respectively. There were no cash proceeds available to pay expenses related to the sale and no proceeds were returned to cash reserves held by Series 41, Series 42 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the sale of the Operating Partnership was recorded for Series 41, Series 42 and Series 45, respectively, as of March 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $100 for Series 41 was recorded as gain on the sale of the Operating Partnership as of March 31, 2018.

In November 2017, the investment general partner transferred their respective interests in Dorchester Court LDHA Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,993,006 and cash proceeds to the investment partnerships of $230,000 and $230,000 for Series 42 and Series 43, respectively. Of the total proceeds received, $4,500 and $4,500 for Series 42 and Series 43, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $225,500 and $225,500 for Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $225,500 and $225,500 for Series 42 and Series 43, respectively, as of December 31, 2017.

89

In December 2017, the investment general partner transferred its interest in Natchez Place Apartments II Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $726,453 and cash proceeds to the investment partnership of $37,779. Of the total proceeds received, $1,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $36,779 were returned to cash reserves held by Series 42. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $36,779 as of December 31, 2017.

In January 2018, the investment general partner transferred their respective interests in San Diego/Fox Hollow, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $7,277,023 and cash proceeds to the investment partnerships of $245,497, $166,126 and $343,581 for Series 41, Series 42 and Series 43, respectively. Of the total proceeds received, $1,625, $1,100 and $2,275 for Series 41, Series 42 and Series 43, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, as of March 31, 2018.

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

Wingfield Apartments Partnership II, LP

(Series 43) As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 17 properties as of March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016 the series, in total, generated $(1,006,163) and $(3,432,057), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 and $0.01, respectively, in tax credits per BAC to the investors.

90

As of March 31, 2018 and 2017 Investments in Operating Partnerships for Series 43 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $349,598 and $(246,031), respectively. The major components of these amounts are the Fund's share of income from Operating Partnerships and the fund management fee.

In April 2018, the investment general partner transferred its interest in Bohannon Place, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $185,872 and cash proceeds to the investment partnership of $15,000. Of the total proceeds received, $6,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $9,000 were returned to cash reserves held by Series 43. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution.

In November 2017, the investment general partner transferred their respective interests in Dorchester Court LDHA Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,993,006 and cash proceeds to the investment partnerships of $230,000 and $230,000 for Series 42 and Series 43, respectively. Of the total proceeds received, $4,500 and $4,500 for Series 42 and Series 43, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $225,500 and $225,500 for Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $225,500 and $225,500 for Series 42 and Series 43, respectively, as of December 31, 2017.

91

In January 2018, the investment general partner transferred their respective interests in San Diego/Fox Hollow, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $7,277,023 and cash proceeds to the investment partnerships of $245,497, $166,126 and $343,581 for Series 41, Series 42 and Series 43, respectively. Of the total proceeds received, $1,625, $1,100 and $2,275 for Series 41, Series 42 and Series 43, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, as of March 31, 2018.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Carpenter School I Elderly Apartments Limited

Parkside Plaza, LLP

(Series 44) As of March 31, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 7 properties at March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016 the series, in total, generated $(294,964) and $(1,074,396), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 and $0.06, respectively, in tax credits per BAC to the investors.

As of March 31, 2018 and 2017 Investments in Operating Partnerships for Series 44 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $(227,804) and $(231,517), respectively. The major components of these amounts are the Fund's professional fees and the fund management fee.

United Development CO. 2001 LP (Memphis 102) is a 102-unit single family home scattered site development, located in Memphis, TN. In September 2013, the court-appointed receiver for the Operating Partnership entered into an agreement to sell the property to a third-party buyer for $1,173,000; the sale transaction closed on November 26, 2013. After payment of the outstanding real estate taxes, the remaining proceeds of $210,000 were paid to the first mortgage lender. There were no cash proceeds to the investment partnership. The buyer agreed to operate the property in accordance with the land use and regulatory agreement as well as Section 42 of the Tax Code; therefore, resulting in no tax credit recapture or interest penalties for the investment limited partner stemming from the sale. The investment limited partners will; however, lose federal tax credits in 2013 and 2014 totaling $30,660 and $131,253, respectively, in addition to the recapture in 2012 totaling $281,707, equivalent to $104 per 1,000 BACs. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the sale of the Operating Partnership has been recorded. Despite the sale of the property, the low income housing tax credit compliance period for the tax credits received remains unchanged and will expire on December 31, 2018.

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United Development Limited Partnership 2001 (Families First II) is a 66-unit single family house development located in West Memphis, AR. Due to low occupancy, deferred maintenance, high operating expenses and high debt service, the partnership operates below breakeven. The operating general partner, whose operating deficit guarantee has expired, provides limited oversight of property operations. For the most part, it was the third party property management company and the investment general partner who directed property operations starting in January 2014. Beginning in the fourth quarter of 2013 and continuing through October 23, 2015, the investment limited partner had advanced $201,849 from fund reserves to Families First II to finance operating deficits. No further advances were made by the investment limited partner during the remainder of the fourth quarter of 2015 or during the first half of 2016. Starting in November 2015, mortgage payments were not made by the Operating Partnership. As a result, the lender issued a default notice on December 8, 2015, and accelerated payment of the mortgage note. On February 10, 2016 the court appointed a receiver to manage the property. The foreclosure on the property occurred on July 21, 2016. The tax credit recapture costs and interest penalties as a result of the foreclosure sale is estimated at $780,762. This is equivalent to recapture costs and interest penalties of $289 per 1,000 BACs. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain or loss on the foreclosure of the Operating Partnership has been reported. Note that the 15-year low income housing tax credit compliance period for Families First II would have expired on December 31, 2018.

(Series 45) As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 26 properties as of March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016 the series, in total, generated $(1,223,131) and $(1,049,885), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 and $0.02, respectively, in tax credits per BAC to the investors.

As of March 31, 2018 and 2017 Investments in Operating Partnerships for Series 45 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $(276,116) and $(244,274), respectively. The major components of these amounts are the Fund's professional fees and the fund management fee.

In December 2016, the investment general partner transferred their respective interests in Baldwin Villas Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $5,226,317 and no cash proceeds to the investment partnerships and no cash proceeds returned to the cash reserves held by Series 37, Series 40 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership has been recorded as of December 31, 2016.

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Jefferson Housing, LP (Jefferson House) is a 101-unit property located in Lynchburg, VA. The property continues to operate below breakeven. The investment general partner will continue to work with the operating general partner and the management company to monitor and improve operations in conjunction with the Virginia Housing Development Authority. As of March 31, 2018, the property is maintaining occupancy of 99%. The operating general partners has an unlimited operating deficit guarantee. The low income housing tax credit compliance period expires on December 31, 2019.

In November 2017, the operating general partner of Harbor Pointe II/MHT LDHA Limited Partnership entered into an agreement to sell the property a non-affiliated entity and the transaction closed on February 6, 2018. The sales price of the property was $1,300,000, which included the outstanding mortgage balance of approximately $1,234,960 and nominal cash proceeds to the investment partnerships Series 41, Series 42 and Series 45, respectively. There were no cash proceeds available to pay expenses related to the sale and no proceeds were returned to cash reserves held by Series 41, Series 42 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the sale of the Operating Partnership was recorded for Series 41, Series 42 and Series 45, respectively, as of March 31, 2018. In addition, equity outstanding for the Operating Partnership in the amount of $100 for Series 41 was recorded as gain on the sale of the Operating Partnership as of March 31, 2018.

Bartlett Bayou, L.P. (Bartlett Bayou Apartments) is a 48-unit family property in Pascagoula, MS. The property operated below breakeven in 2017 due to high operating expenses. Legal expenses increased due to an IRS Private Letter Ruling request in 2016 and water expenses continue to rise as a result of a significant rate increase implemented in 2016. Occupancy declined slightly in 2017, averaging 95% compared to 97% in 2016. The investment general partner will continue to work with the operating general partner and the management company to improve operations. The operating general partner’s operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period for Bartlett Bayou, L.P. expires on December 31, 2021.

Reese I Limited Partnership (Reese Village Apartments) is a 40-unit property located in Emporia, VA. The property operated below breakeven in 2017, and is 93% occupied as of March 31, 2018. The property is aging and requires significant replacements and repairs for each unit turn, which is the leading cause of the below breakeven operations. Management also replaced the manager and maintenance man for poor performance in 2017. With a new on-site management team in place, and more careful monitoring of expenses, the property will work towards breakeven operations. The partnership recently met the maximum required Rural Development replacement reserve balance, and starting in 2018 will reduce the annual deposit from $31,500 per year to $15,108 per year. This reduction is consistent with the requirement set forth by The Virginia Housing Development Authority. The Operating Partnership also received a $24 per unit per month rent increase for 2018, increasing annual potential rental income by $11,520. With these changes in place, the property is now operating above breakeven through the first quarter of 2018. The investment general partner will work with the operating general partner to carefully monitor operations for ongoing above breakeven operations. The operating general partner’s operating deficit guaranteed has expired. The 15-year low income housing tax credit compliance period will expire on December 31, 2019.

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The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

Heritage Christian Home III, L.P.

(Series 46) As of March 31, 2018 and 2017 the average Qualified Occupancy for the series was 100%. The series had a total of 14 properties as of March 31, 2018, all of which were at 100% Qualified Occupancy.

For the tax years ended December 31, 2017 and 2016 the series, in total, generated $(963,277) and $(607,520), respectively, in passive tax income (losses) that were passed through to the investors, and also provided $0.00 and $0.09, respectively, in tax credits per BAC to the investors.

As of March 31, 2018 and 2017 Investments in Operating Partnerships for Series 46 was $0. By using the equity method the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.

For the years ended March 31, 2018 and 2017, the net income (loss) of the series was $(169,749) and $171,768, respectively. The major components of these amounts are the Fund's professional fees and the fund management fee.

Panola Housing Ltd. (Panola Apartments) is a 32-unit family property in Carthage, TX. The property operated below breakeven in 2016 largely due to high operating expenses. The property continued to operate below breakeven through 2017 as a result of high operating expenses. Average occupancy improved slightly in 2017 to 96%, compared to 95% in 2016. The investment general partner continues to work with the operating general partner and the management company to reduce expenses. The operating general partner’s operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period expires on December 31, 2018.

Bartlett Bayou, L.P. (Bartlett Bayou Apartments) is a 48-unit family property in Pascagoula, MS. The property operated below breakeven in 2016 due to high operating expenses. Legal expenses increased due to an IRS Private Letter Ruling request in 2016 and water expenses continue to rise as a result of a significant rate increase implemented in 2016. Occupancy declined slightly in 2017 averaging 95%, compared to 97% in 2016. The investment general partner will continue to work with the operating general partner and the management company to improve operations. The operating general partner’s operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period for Bartlett Bayou, L.P. expires on December 31, 2021.

Linden-Shawnee Partners, Limited Partnership (Linden's Apartments) is a 54-unit family property in Shawnee, OK. Operations were above breakeven in 2017, largely due to management's ability to capture higher rental income through increased occupancy via retention of current tenants and leasing incentives. There was also a slight reduction in total operating expenses compared to 2016. The investment general partner will continue to work with the operating general partner and management company to improve occupancy and overall operations. As of March 31, 2018, the property is maintaining occupancy of 91%. The operating general partner’s operating deficit guarantee expires on December 31, 2020. The 15-year low income housing tax credit compliance period expires on December 31, 2020.

95

On November 22, 2016, the operating general partner of Agent Kensington Limited Partnership sold the property to an unrelated third party buyer. The sales price of the property was $6,625,000, which included the outstanding mortgage balance of approximately $4,023,594 and cash proceeds to the investment partnership of $398,183. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $393,183 were returned to cash reserves held by Series 46. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership’s investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $393,183 as of December 31, 2016. In December 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership’s cash in the amount of $10,994 which was returned to the cash reserves.

Saint Martin Apartments, L.P. (Saint Martin Apartments) is a 40-unit family property in McComb, MS. The property operated below breakeven in 2017 mainly due to high operating expenses and a reduction in rental income resulting from a decrease in occupancy. Average occupancy for the year decreased to 78% from 84% in 2016. This was a result of poor property management. The property manager was fired in June 2017 and a new manager was hired in August. Occupancy has improved at the property since the new hire and is 95% occupied through March 2018. The investment limited partner will continue to work with the operating general partner on improving occupancy and will monitor operations. The 15-year low income housing tax credit compliance period for Saint Martin Apartments, L.P. expires on December 31, 2020.

Off Balance Sheet Arrangements

None.

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Principal Accounting Policies and Estimates

The financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), which require the Fund to make various estimates and assumptions. The following section is a summary of some aspects of those accounting policies that may require subjective or complex judgments and are most important to the portrayal of the Fund’s financial condition and results of operations. The Fund believes that there is a low probability that the use of different estimates or assumptions in making these judgments would result in materially different amounts being reported in the financial statements.

The Fund is required to assess potential impairments to its long-lived assets, which are primarily investments in limited partnerships. The Fund accounts for its investment in limited partnerships in accordance with the equity method of accounting since the Fund does not control the operations of the Operating Partnerships. The purpose of an impairment analysis is to verify that the real estate investment balance reflected on the balance sheet does not exceed the value of the underlying investments.

If the book value of the Fund’s investment in an Operating Partnership exceeds the estimated value derived by management, which generally consists of the remaining future Low-Income Housing Credits allocable to the Fund and the estimated residual value to the Fund, the Fund reduces its investment in the Operating Partnership.

The main reason an impairment losses typically occurs is that the annual operating losses, recorded in accordance with the equity method of accounting, of the investment in limited partnership does not reduce the balance as quickly as the annual use of the tax credits. In years prior to the year ended March 31, 2009, management included remaining tax credits as well as residual value in the calculated value of the underlying investments. However, management decided to take a more conservative approach to the investment calculation and determined that the majority of the residual value component of the valuation was zero for the years ended March 31, 2018 and 2017. However, it is important to note that this change in the accounting estimate to the calculation method of the impairment losses has no effect on the actual value or performance of the overall investment, nor does it have any effect on the remaining credits to be generated.

In accordance with the accounting guidance for the consolidation of variable interest entities, the Fund determines when it should include the assets, liabilities, and activities of a variable interest entity (VIE) in its financial statements, and when it should disclose information about its relationship with a VIE. The analysis that must be performed to determine which entity should consolidate a VIE focuses on control and economic factors.  A VIE is a legal structure used to conduct activities or hold assets, which must be consolidated by a company if it is the primary beneficiary because it has (1) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (2) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. If multiple unrelated parties share such power, as defined, no party will be required to consolidate the VIE. Further, the guidance requires continual reconsideration of the primary beneficiary of a VIE. 

97

Principal Accounting Policies and Estimates - continued

Based on this guidance, the Operating Partnerships in which the Fund invests meet the definition of a VIE because the owners of the equity at risk in these entities do not have the power to direct their operations.  However, management does not consolidate the Fund’s interests in these VIEs, as it is not considered to be the primary beneficiary since it does not have the power to direct the activities that are considered most significant to the economic performance of these entities.  The Fund currently records the amount of its investment in these partnerships as an asset on its balance sheets, recognizes its share of partnership income or losses in the statements of operations, and discloses how it accounts for material types of these investments in its financial statements. The Fund’s balance in investment in Operating Partnerships, advances made to Operating Partnerships, plus the risk of recapture of tax credits previously recognized on these investments, represents its maximum exposure to loss.  The Fund’s exposure to loss on these partnerships is mitigated by the condition and financial performance of the underlying Housing Complexes as well as the strength of the general partners and their guarantee against credit recapture to the investors of the Fund.

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Item 7A. Quantitative and Qualitative Disclosures About Market Risk

Not Applicable

Item 8. Financial Statements and Supplementary Data

The information required by this item is contained in Part IV, Item 15 of this Annual Report on Form 10-K.

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None

Item 9A. Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this report, the Fund’s general partner, under the supervision and with the participation of the Principal Executive Officer and Principal Financial Officer of C&M Management Inc., carried out an evaluation of the effectiveness of the Fund’s “disclosure controls and procedures” as defined in the Securities Exchange Act of 1934 Rules 13a-15 and 15d-15, with respect to each series individually, as well as the Fund as a whole. Based on that evaluation, the Fund’s Principal Executive Officer and Principal Financial Officer have concluded that as of the end of the period covered by this report, the disclosure controls and procedures with respect to each series individually, as well as the Fund as a whole, were adequate and effective in timely alerting them to material information relating to any series or the Fund as a whole required to be included in the Fund’s periodic SEC filings.

(b) Management's Annual Report on Internal Control over Financial Reporting

Management of the Fund is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) of each series individually, as well as the Fund as a whole. The Fund’s internal control system over financial reporting is designed to provide reasonable assurance to the Fund’s management regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States.

Due to inherent limitations, an internal control system over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance of achieving their control objectives.

99

As required by Section 404 of the Sarbanes-Oxley Act of 2002, management conducted an evaluation of the effectiveness of the Fund’s internal control over financial reporting as of March 31, 2018. In making this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated Framework (2013). Based on this evaluation, management concluded the Fund’s internal control over financial reporting was effective as of March 31, 2018.

(c) Changes in Internal Controls

There were no changes in the Fund management's internal control over financial reporting that occurred during the quarter ended March 31, 2018 that materially affected, or are reasonably likely to materially affect, the Fund management's internal control over financial reporting.

Item 9B. Other Information

Not Applicable

100

PART III

Item 10. Directors, Executive Officers and Corporate Governance of the Fund

(a), (b), (c), (d) and (e)

The Fund has no directors or executives officers of its own. The following biographical information is presented for the partners of the General Partners and affiliates of those partners (including Boston Capital Partners, Inc. ("Boston Capital")) with principal responsibility for the Partnership's affairs.

John P. Manning, age 69, is one of the two original founders of Boston Capital Corporation, which was formed in 1974. From its beginning, Boston Capital’s goal was to focus on providing equity investment capital for the development of apartment properties throughout the country. Under Mr. Manning’s leadership as CEO for the past 44 years, Boston Capital has grown into one of the largest owners/investors in apartment properties in the United States. Through a number of affiliated partnerships, Boston Capital’s present portfolio is comprised of approximately 1,556 properties with an original development cost in excess of $19.6 billion. These properties are located in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands and Guam. As CEO of Boston Capital, Mr. Manning continues to oversee the company’s business development goals. Capitalizing on its core competencies of tax credit investment underwriting, those business development goals include an expansion of investment capital for market rate real estate investment as well as providing mortgage financing for a limited and exclusive number of property acquisitions. Mr. Manning is a recognized leader in the housing and real estate industries, and has served on the boards of a number of national housing organizations and governmental commissions. In 1997, President Clinton appointed Mr. Manning to the President’s Export Council, a board comprised primarily of Fortune 500 CEOs that advised the President on government policies and programs that affect U.S. trade performance. He was also a Presidential appointee to the President’s Advisory Committee on the Arts. Mr. Manning serves on the boards of numerous organizations and charities including The Alliance for Business Leadership and the American Ireland Fund. Mr. Manning is also a member of the Board of Directors of Liberty Mutual Group, the parent company of Liberty Mutual Insurance Company, and sits on Liberty Mutual’s investment and compensation committees.

Mr. Manning is a graduate of Boston College.

Jeffrey H. Goldstein, age 56, directs Boston Capital’s comprehensive real estate services, which include all aspects of origination, underwriting and acquisition. As COO, Mr. Goldstein is responsible for the financial and operational areas of Boston Capital Corporation and assists in the design and implementation of business development and strategic planning objectives. Prior to assuming the role of COO, Mr. Goldstein served as Director of Acquisitions and prior to that served as Director of Asset Management. He also served as the head of the Dispositions and Special Assets Groups. With more than 30 years of experience in the real estate syndication and development industry, Mr. Goldstein has been instrumental in the diversification and expansion of Boston Capital’s businesses. Prior to joining Boston Capital in 1990, Mr. Goldstein was Manager of Finance for A.J. Lane & Co., where he was responsible for placing debt on all new construction projects and debt structure for existing apartment properties. Prior to that, he served as manager for Homeowner Financial Services, a financial consulting firm for residential and commercial properties, and worked as an analyst responsible for budgeting and forecasting for the New York City Council Finance Division.

101

Mr. Goldstein is active in the Dana Farber Cancer Institute community, serving as a member on its Visiting Committee. Mr. Goldstein holds a BA from the University of Colorado and an MBA from Northeastern University

Kevin P. Costello, age 71, directs the functions of the Boston Capital Institutional Investment business. He has led this operational area since its inception in 1992, which encompasses investment activities for corporate institutional, private proprietary and state CRA funds. All investor services and communications to Boston Capital’s corporate investors fall under his responsibility as well. Mr. Costello has over 25 years of experience in the real estate syndication and investment services industry including previous roles at Boston Capital managing the Affordable Housing Acquisition Team as well as being responsible for the structuring and distribution of conventional and tax credit private placements. Prior to the introduction of the corporate tax credit business, Mr. Costello was responsible for broker dealer due diligence and investor services for the Boston Capital public tax credit funds. He currently serves on the Executive Committee at Boston Capital. Prior to joining Boston Capital in 1987, Mr. Costello held executive positions with real estate syndication and investment services firms. Mr. Costello serves on the Board of Directors of FamilyAid Boston, whose mission is to prevent and end homelessness. He is a graduate of Stonehill College and received an MBA in Finance from the Rutgers Graduate School of Business Administration.

Marc N. Teal, age 54, oversees the operational accounting, including financial and SEC reporting, budgeting, audit and tax for Boston Capital, its affiliated entities and all Boston Capital-sponsored programs. He is also responsible for the additional oversight of internal audit, regulatory and housing compliance and information technology. Mr. Teal manages Boston Capital’s banking and borrowing relationships and directs the treasury management of all working capital reserves. He previously served as Director of Accounting and prior to that served as Vice President of Partnership Accounting. Mr. Teal has more than 27 years of finance and accounting experience. Prior to joining Boston Capital in 1990, Mr. Teal held various positions with Cabot, Cabot & Forbes, a multifaceted real estate company and Liberty Real Estate Corp. He received a BS in Accountancy from Bentley University and a Masters in Finance from Suffolk University.

(f) Involvement in certain legal proceedings.

None.

(g) Promoters and control persons.

None.

(h) and (i) The Fund has no directors or executive officers and accordingly has no audit committee and no audit committee financial expert. The Fund is not a listed issuer as defined in Regulation 10A-3 promulgated under the Securities Exchange Act of 1934.

The general partner of the Fund, Boston Capital Associates IV LP, has adopted a Code of Ethics which applies to the Principal Executive Officer and Principal Financial Officer of C&M Management, Inc. The Code of Ethics will be provided without charge to any person who requests it. Such request should be directed to, Marc N. Teal, Boston Capital Corp., One Boston Place, Boston, MA 02108.

102

Item 11. Executive Compensation

(a), (b), (c), (d) and (e)

The Fund has no officers or directors and no compensation committee. However, under the terms of the Amended and Restated Agreement and Certificate of Limited Partnership of the Fund, the Fund has paid or accrued obligations to the general partner and its affiliates for the following fees during the 2018 fiscal year:

1.      An annual fund management fee based on .5 percent of the aggregate cost of all apartment complexes acquired by the Operating Partnerships, less the amount of reporting fees received, has been accrued or paid to Boston Capital Asset Management Limited Partnership. The annual fund management fees charged to operations for the year ended March 31, 2018 was $1,994,955.

2.      The Fund has reimbursed or accrued as a payable to an affiliate of the general partner a total of $487,139 for amounts charged to operations during the year ended March 31, 2018. The reimbursement is for items like postage, printing, travel, and overhead allocations.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Partner Matters

(a) Security ownership of certain beneficial owners.

As of March 31, 2018, 83,651,080 BACs had been issued. The following Series are known to have an investor, Everest Housing, 199 South Los Robles Ave. Suite 200, Pasadena, CA 91101, with holdings in excess of 5% of the total outstanding BACs in the series.

Series 21	6.14%
Series 22	8.69%
Series 23	6.79%
Series 26	8.63%
Series 27	9.30%
Series 28	6.31%
Series 32	5.93%
Series 41	9.73%
Series 42	6.85%
Series 43	7.36%
Series 44	7.35%
Series 45	5.28%
Series 46	7.11%

As of March 31, 2018, 83,651,080 BACs had been issued. The following Series are known to have an investor, Summit Venture, P.O. Box 47638, Phoenix, AZ 85068, with holdings in excess of 5% of the total outstanding BACs in the series.

Series 20	6.49%
Series 25	6.90%

103

As of March 31, 2018, 83,651,080 BACs had been issued. The following Series are known to have an investor, David Lesser, 199 S Los Robles Ave Suite 200, Pasadena CA 91101, with holdings in excess of 5% of the total outstanding BACs in the series.

Series 33	6.84%
Series 34	7.78%
Series 35	6.68%
Series 36	5.43%
Series 37	7.42%
Series 38	7.81%
Series 39	7.43%
Series 40	5.32%

(b) Security ownership of management.

The general partner has a 1% interest in all profits, losses, credits and distributions of the Fund.

(c) Changes in control.

There exists no arrangement known to the Fund the operation of which may at a subsequent date result in a change in control of the Fund. There is a provision in the Fund’s Partnership Agreement which allows, under certain circumstances, the ability to change control.

The Fund has no compensation plans under which interests in the Fund are authorized for issuance.

Item 13. Certain Relationships and Related Transactions, and Director Independence

(a) Transactions with related persons

The Fund has no officers or directors. However, under the terms of the Prospectus, various kinds of compensation and fees are payable to the general partner and its affiliates during the organization and operation of the Fund. Additionally, the general partner will receive distributions from the Fund if there is cash available for distribution or residual proceeds as defined in the Fund Agreement. See Note B of Notes to Financial Statements in Item 15 of this Annual Report on Form 10-K for amounts accrued or paid to the general partner and its affiliates for the period April 1, 1995 through March 31, 2018.

(b) Review, Approval or Ratification of transactions with related persons.

The Fund’s response to Item 13(a) is incorporated herein by reference.

(c) Promoters and certain control persons.

Not applicable.

(d) Independence.

The Fund has no directors.

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Item 14. Principal Accountant Fees and Services

Fees paid to the Fund’s independent auditors for fiscal year 2018 were comprised of the following:

Fee Type	Ser. 20		Ser. 21		Ser. 22		Ser. 23		Ser. 24
Audit Fees	$	9,522	$	8,072	$	8,497	$	10,972	$	9,772
Audit Related Fees		-		-		-		-		-
Tax Fees		3,900		3,434		3,900		4,599		4,366
All Other Fees		1,516		769		1,078		1,410		855
Total	$	14,938	$	12,275	$	13,475	$	16,981	$	14,993

Fee Type	Ser. 25		Ser. 26		Ser. 27		Ser. 28		Ser. 29
Audit Fees	$	8,922	$	13,772	$	11,997	$	10,372	$	10,622
Audit Related Fees		-		-		-		-		-
Tax Fees		3,900		6,230		4,599		5,298		4,832
All Other Fees		1,171		1,539		15,153		1,359		1,480
Total	$	13,993	$	21,541	$	31,749	$	17,029	$	16,934

Fee Type	Ser. 30		Ser. 31		Ser. 32		Ser. 33		Ser. 34
Audit Fees	$	10,622	$	18,647	$	13,272	$	9,347	$	11,997
Audit Related Fees		-		-		-		-		-
Tax Fees		4,832		7,162		5,298		4,133		4,832
All Other Fees		891		1,377		1,523		828		1,119
Total	$	16,345	$	27,186	$	20,093	$	14,308	$	17,948

105

Item 14. Principal Accountant Fees and Services - continued

Fees paid to the Fund’s independent auditors for fiscal year 2018 were comprised of the following:

Fee Type	Ser. 35		Ser. 36		Ser. 37		Ser. 38		Ser. 39
Audit Fees	$	11,572	$	12,597	$	12,172	$	13,022	$	13,797
Audit Related Fees		-		-		-		-		-
Tax Fees		4,599		4,832		4,366		5,298		4,832
All Other Fees		1,118		676		747		796		666
Total	$	17,289	$	18,105	$	17,285	$	19,116	$	19,295

Fee Type	Ser. 40		Ser. 41		Ser. 42		Ser. 43		Ser. 44
Audit Fees	$	15,572	$	15,472	$	13,597	$	15,297	$	11,222
Audit Related Fees		-		-		-		-		-
Tax Fees		6,463		7,162		6,463		7,395		5,298
All Other Fees		733		911		815		1,101		9,021
Total	$	22,768	$	23,545	$	20,875	$	23,793	$	25,541

Fee Type	Ser. 45		Ser. 46
Audit Fees	$	19,722	$	14,197
Audit Related Fees		-		-
Tax Fees		9,492		6,463
All Other Fees		1,227		954
Total	$	30,441	$	21,614

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Item 14. Principal Accountant Fees and Services - continued

Fees paid to the Fund’s independent auditors for fiscal year 2017 were comprised of the following:

Fee Type	Ser. 20		Ser. 21		Ser. 22		Ser. 23		Ser. 24
Audit Fees	$	8,831	$	9,981	$	11,406	$	12,681	$	9,681
Audit Related Fees		-		-		-		-		-
Tax Fees		3,796		3,796		4,250		4,931		4,477
All Other Fees		1,846		937		1,315		1,738		1,095
Total	$	14,473	$	14,714	$	16,971	$	19,350	$	15,253

Fee Type	Ser. 25		Ser. 26		Ser. 27		Ser. 28		Ser. 29
Audit Fees	$	8,831	$	16,081	$	10,106	$	14,681	$	12,531
Audit Related Fees		-		-		-		-		-
Tax Fees		3,796		7,201		4,477		5,612		5,158
All Other Fees		1,439		1,982		1,128		1,723		1,921
Total	$	14,066	$	25,264	$	15,711	$	22,016	$	19,610

Fee Type	Ser. 30		Ser. 31		Ser. 32		Ser. 33		Ser. 34
Audit Fees	$	13,531	$	16,356	$	12,381	$	10,256	$	12,106
Audit Related Fees		-		-		-		-		-
Tax Fees		5,612		7,428		5,612		4,704		5,612
All Other Fees		1,215		1,935		1,992		1,156		1,546
Total	$	20,358	$	25,719	$	19,985	$	16,116	$	19,264

107

Item 14. Principal Accountant Fees and Services - continued

Fees paid to the Fund’s independent auditors for fiscal year 2017 were comprised of the following:

Fee Type	Ser. 35		Ser. 36		Ser. 37		Ser. 38		Ser. 39
Audit Fees	$	12,681	$	12,106	$	9,681	$	12,531	$	12,106
Audit Related Fees		-		-		-		-		-
Tax Fees		5,158		4,931		4,477		5,158		4,931
All Other Fees		1,534		919		1,041		1,167		934
Total	$	19,373	$	17,956	$	15,199	$	18,856	$	17,971

Fee Type	Ser. 40		Ser. 41		Ser. 42		Ser. 43		Ser. 44
Audit Fees	$	15,081	$	15,782	$	18,507	$	19,207	$	10,532
Audit Related Fees		-		-		-		-		-
Tax Fees		6,520		7,201		7,655		8,109		5,158
All Other Fees		1,121		1,326		1,173		1,563		1,130
Total	$	22,722	$	24,309	$	27,335	$	28,879	$	16,820

Fee Type	Ser. 45		Ser. 46
Audit Fees	$	19,032	$	13,507
Audit Related Fees		1,400		1,400
Tax Fees		9,244		6,293
All Other Fees		1,821		1,319
Total	$	31,497	$	22,519

Audit Committee

The Fund has no Audit Committee. All audit services and any permitted non-audit services performed by the Fund’s independent auditors are pre-approved by C&M Management, Inc.

108

PART IV

Item 15. Exhibits and Financial Statement Schedules

(a) 1 & 2 Financial Statements and Financial Statement Schedules; Filed herein as Exhibit 13

Boston Capital Tax Credit IV L.P.; filed herein as Exhibit 13

Report of Independent Registered Public Accounting Firm

Balance Sheets, March 31, 2018 and 2017

Statements of Operations for the years ended March 31, 2018 and 2017

Statements of Changes in Partners' Capital (Deficit) for the years ended March 31, 2018 and 2017

Statements of Cash Flows for the years ended March 31, 2018 and 2017

Notes to Financial Statements, March 31, 2018 and 2017

Schedules not listed are omitted because of the absence of the conditions under which they are required or because the information is included in the financial statements or the notes thereto.

(b) 1 Exhibits (listed according to the number assigned in the table in Item 601 of Regulation S-K)

Exhibit No. 3 - Organization Documents.

a. Certificate of Limited Partnership of Boston Capital Tax Credit Fund IV L.P. (Incorporated by reference from Exhibit 3 to the Fund's Registration Statement No. 33-70564 on Form S-11 as filed with the Securities and Exchange Commission on October 19, 1993) (Filed on paper - hyperlink not required pursuant to Rule 105 of Regulation S-T.).

Exhibit No. 4 - Instruments defining the rights of security holders, including indentures.

a. Agreement of Limited Partnership of Boston Capital Tax Credit Fund IV L.P. (Incorporated by reference from Exhibit 4 to the Fund's Registration Statement No. 33-70564 on Form S-11 as filed with the Securities and Exchange Commission on October 19, 1993) (Filed on paper - hyperlink not required pursuant to Rule 105 of Regulation S-T.).

Exhibit No. 10 - Material contracts.

a. Beneficial Assignee Certificate. (Incorporated by reference from Exhibit 10A to the Fund's Registration Statement No. 33-70564 on Form S-11 as filed with the Securities and Exchange Commission on October 19, 1993) (Filed on paper - hyperlink not required pursuant to Rule 105 of Regulation S-T.).

109

Exhibit No. 13 - Financial Statements.

a. Financial Statement of Boston Capital Tax Credit Fund IV L.P.; Filed herein

Exhibit No. 28 - Additional exhibits.

a. Agreement of Limited Partnership of Autumn Ridge L.P. (Incorporated by reference from Registrant's current report on Form 8-K as filed with the Securities and Exchange Commission on March 26, 1997).

b. Agreement of Limited Partnership of Los Lunas Limited Partnership (Incorporated by reference from Registrant's current report on Form 8-K as filed with the Securities and Exchange Commission on March 26, 1997).

c. Agreement of Limited Partnership of New Devonshire West, Limited Partnership (Incorporated by reference from Registrant's current report on Form 8-K as filed with the Securities and Exchange Commission on March 26, 1997).

d. Agreement of Limited Partnership of Northfield Housing, L.P.(Incorporated by reference from Registrant's current report on Form 8-K as filed with the Securities and Exchange Commission on March 26, 1997).

e. Agreement of Limited Partnership of Overton Associates Limited Partnership (Incorporated by reference from Registrant's current report on Form 8-K as filed with the Securities and Exchange Commission on March 26, 1997).

f. Agreement of Limited Partnership of Brookhaven Apartments Partnership (Incorporated by reference from Registrants current report on form 8-K as filed with the Securities and Exchange Commission on May 21, 1997.)

g. Agreement of Limited Partnership of Maple Limited Partnership (Incorporated by reference from Registrants current report on form 8-K as filed with the Securities and Exchange Commission on July 16, 1997.)

h. Agreement of Limited Partnership of Angelou Associates, L.P. (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on April 23, 1998.)

110

i. Agreement of Limited Partnership of Magnolia Place Apartments Partnerships (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on April 30, 1998.)

j. Agreement of Limited Partnership of Edgewood Apartments Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on April 30, 1998.)

k. Agreement of Limited Partnership of Pineridge Apartments Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange on on February 9, 2000.)

l. Agreement of Limited Partnership of Pecan Manor Apartments Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on February 10, 2000.)

m. Agreement of Limited Partnership of Pyramid Four Limited Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on February 16, 2000.)

n. Agreement of Limited Partnership of Belmont Affordable Housing II LP (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on September 29, 2000.)

o. Agreement of Limited Partnership of Breezewood II, L.P. (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on October 30, 2002.)

p. Agreement of Limited Partnership of Wingfield Apartments II L.P. (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on November 12, 2002.)

q. Agreement of Limited Partnership of Rural Housing Partners of Mendota LP (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on December 30, 2003.)

111

r. Agreement of Limited Partnership of Rural Housing Partners of Mt. Carroll LP (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on January 23, 2004.)

s. Agreement of Limited Partnership of Meadowside Associates (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on January 23, 2004.)

t. Agreement of Limited Partnership of Los Lunas Apts. LP (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on January 23, 2004.)

u. Agreement of Limited Partnership of Hawthorne Assoc. LP (Incorporated by reference from registrants current report on form 8- K as filed Eith the Securities and Exchange Commission on January 23, 2004.)

v. Agreement of Limited Partnership of Rural Housing Partners of Franklin Grove LP (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on January 23, 2004.)

w. Agreement of Limited Partnership of Rural Housing Partners of Fulton LP (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on January 23, 2004.)

x. Agreement of Limited Partnership of Heritage Two LP (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on January 23, 2004.)

y. Agreement of Limited Partnership of Parkhurst Place (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on January 23, 2004.)

z. Agreement of Limited Partnership of Northrock Housing Associates LP (Incorporated by reference from registrants current report on form 8- K as filed with the Securities and Exchange Commission on March 31, 2004.)

aa. Agreement of Limited Partnership of Edgewood Apartments Partnership (Incorporated by reference from registrants current report on form 8- K as filed with the Securities and Exchange Commission on March 31, 2004.)

112

ab. Agreement of Limited Partnership of Pyramid Four Limited Partnership (Incorporated by reference from registrants current report on form 8- K as filed with the Securities and Exchange Commission on March 31, 2004.)

ac. Agreement of Limited Partnership of Parkside Plaza LP (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on March 31, 2004.)

ad. Agreement of Limited Partnership of Northrock Housing Assoc. LP (Incorporated by reference from registrants current report on form 8- K as filed with the Securities and Exchange Commission on March 31, 2004.)

ae. Agreement of Limited Partnership of Ashton Ridge LDHA LP (Incorporated by reference from registrants current report on form 8- K as filed with the Securities and Exchange Commission on March 31, 2004.)

af. Agreement of Limited Partnership of Ashton Ridge LDHA LP (Incorporated by reference from registrants current report on form 8- K as filed with the Securities and Exchange Commission on March 31, 2004.)

ag. Agreement of Limited Partnership of Aldine Westfield Apts., LP (Incorporated by reference from registrants current report on form 8- K as filed with the Securities and Exchange Commission on March 31, 2004.)

ah. Agreement of Limited Partnership of Carpenter School I Elderly Apts. LP (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on March 31, 2004.)

ai. Agreement of Limited Partnership of Lyceum Housing LP (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on March 31, 2004.)

aj. Agreement of Limited Partnership of New Shinnston I LP (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on March 31, 2004.)

ak. Agreement of Limited Partnership of Gilbert Apartments Limited Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on April 26, 2004.)

113

al. Agreement of Limited Partnership of North Forty Aspen Plus Limited Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on April 26, 2004.)

am. Agreement of Limited Partnership of Strawberry Lake Apartments Limited Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on April 26, 2004.)

an. Agreement of Limited Partnership of Elma Gardens of Grays Harbor Limited Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on August 2, 2004.)

ao. Agreement of Limited Partnership of Kimberly Danbury Limited Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on August 2, 2004.)

ap. Agreement of Limited Partnership of Tanglewood Village Limited Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on August 4, 2004.)

aq. Agreement of Limited Partnership of Portland Ocean East I Limited Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on January 25, 2005.)

ar. Agreement of Limited Partnership of Clayton Station Limited Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on January 25, 2005.)

as. Agreement of Limited Partnership of Deer Meadows Limited Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on January 25, 2005.)

at. Agreement of Limited Partnership of Dawn Springs Villa Limited Partnership (Incorporated by reference from registrants current report on form 8-K as filed with the Securities and Exchange Commission on July 7, 2007.)

114

Exhibit No. 31 Certification 302

a. Certification pursuant to 18 U.S.C. Section 1350, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herein

b. Certification pursuant to 18 U.S.C. Section 1350, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herein

Exhibit No. 32 Certification 906

a. Certification pursuant to 18 U.S.C. Section 1350, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, filed herein

b. Certification pursuant to 18 U.S.C. Section 1350, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, filed herein

Exhibit No. 101

The following materials from the Boston Capital Tax Credit Fund IV L.P. Annual Report on Form 10-K for the year ended March 31, 2018 formatted in Extensible Business Reporting Language (XBRL): (i) the Balance Sheets, (ii) the Statements of Operations, (iii) the Statements of Changes in Partners' Capital (Deficit), (iv) the Statements of Cash Flows and (v) related notes, filed herein

Item 16. Form 10-K Summary

Not applicable.

115

SIGNATURES

Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, the Fund has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Boston Capital Tax Credit Fund IV L.P.
	By:	Boston Capital Associates IV L.P.
		General Partner
	By:	BCA Associates Limited Partnership
		General Partner
	By:	C&M Management, Inc.
		General Partner
Date: June 22, 2018		By:	/s/ John P. Manning
			John P. Manning

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Fund and in the capacities and on the dates indicated:

DATE:	SIGNATURE:	TITLE:
June 22, 2018	/s/ John P. Manning
	John P. Manning	Director, President (Principal Executive Officer), C&M Management, Inc.; Director, President (Principal Executive Officer) BCTC IV Assignor Corp.
June 22, 2018	/s/ Marc N. Teal
	Marc N. Teal	Sr. Vice President, Chief Financial Officer (Principal Accounting and Financial Officer) C&M Management Inc.; Sr. Vice President, Chief Financial Officer (Principal Accounting and Financial Officer) BCTC IV Assignor Corp.

116

EX-13

Exhibit 13

BOSTON CAPITAL TAX CREDIT FUND IV L.P.

FINANCIAL STATEMENTS AND

REPORT OF INDEPENDENT REGISTERED

PUBLIC ACCOUNTING FIRM

MARCH 31, 2018 AND 2017

Boston Capital Tax Credit Fund IV L.P. -

Series 20 through Series 46

TABLE OF CONTENTS

	PAGE
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	F-3
FINANCIAL STATEMENTS
BALANCE SHEETS	F-4
STATEMENTS OF OPERATIONS	F-32
STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)	F-60
STATEMENTS OF CASH FLOWS	F-67
NOTES TO FINANCIAL STATEMENTS	F-95

Schedules not listed are omitted because of the absence of the conditions under which they are required or because the information is included in the financial statements or the notes thereto.

Report of Independent Registered Public Accounting Firm

To the Partners

Boston Capital Tax Credit Fund IV L.P.

Opinion on the Financial Statements

We have audited the accompanying balance sheets of Boston Capital Tax Credit Fund IV L.P. (the “Partnership”), as of March 31, 2018 and 2017, and the related statements of operations, changes in partners’ capital (deficit) and cash flows for each of the years in the two-year period ended March 31, 2018, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Partnership as of March 31, 2018 and 2017, and the results of its operations and its cash flows for each of the years in the two-year period ended March 31, 2018 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Partnership’s management. Our responsibility is to express an opinion on the Partnership’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Partnership in accordance with the U.S. federal security laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Partnership is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Partnership’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits of the financial statements provide a reasonable basis for our opinion.

/s/ CohnReznick LLP

COHNREZNICK LLP

We have served as the Partnership’s auditor since 1994.

Bethesda, Maryland

June 22, 2018

F-3

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS

March 31, 2018 and 2017

	Total
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		27,208,717			27,209,997
Notes receivable		-			22,790
Other assets		40,088			164,773
	$	27,248,805		$	27,397,560
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	654,673		$	697,432
Accounts payable - affiliates		29,495,273			39,637,826
Capital contributions payable		176,746			578,113
		30,326,692			40,913,371
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 83,651,080 issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 83,651,080 issued and 83,175,478 and 83,310,666 outstanding at March 31, 2018 and 2017, respectively.		2,931,035			(6,338,126	)
General partner		(6,008,922	)		(7,177,685	)
		(3,077,887	)		(13,515,811	)
	$	27,248,805		$	27,397,560

(continued)

F-4

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 20
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		241,987			271,060
Notes receivable		-			-
Other assets		-			-
	$	241,987		$	271,060
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		1,444,723			1,466,902
Capital contributions payable		-			-
		1,444,723			1,466,902
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,866,700  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,866,700 issued and 3,829,200 and 3,833,200 outstanding at March 31, 2018 and 2017, respectively.		(882,456	)		(875,631	)
General partner		(320,280	)		(320,211	)
		(1,202,736	)		(1,195,842	)
	$	241,987		$	271,060

(continued)

F-5

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 21
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		-			241,102
Notes receivable		-			-
Other assets		-			-
	$	-		$	241,102
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			1,321,237
Capital contributions payable		-			-
		-			1,321,237
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 1,892,700  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 1,892,700 issued and 1,879,500 and 1,879,500 outstanding at March 31, 2018 and 2017, respectively.		(898,231	)		(907,383	)
General partner		898,231			(172,752	)
		-			(1,080,135	)
	$	-		$	241,102

(continued)

F-6

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 22
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		221,864			252,064
Notes receivable		-			-
Other assets		-			-
	$	221,864		$	252,064
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		2,878,109			2,848,897
Capital contributions payable		-			-
		2,878,109			2,848,897
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,564,400  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,564,400 issued and 2,550,645 and 2,557,045 outstanding at March 31, 2018 and 2017, respectively.		(2,410,599	)		(2,351,781	)
General partner		(245,646	)		(245,052	)
		(2,656,245	)		(2,596,833	)
	$	221,864		$	252,064

(continued)

F-7

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 23
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		446,136			659,167
Notes receivable		-			-
Other assets		-			-
	$	446,136		$	659,167
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		933,387			2,089,674
Capital contributions payable		-			-
		933,387			2,089,674
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,336,727  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,336,727 issued and 3,303,327 and 3,314,827 outstanding at March 31, 2018 and 2017, respectively.		(197,532	)		(1,131,355	)
General partner		(289,719	)		(299,152	)
		(487,251	)		(1,430,507	)
	$	446,136		$	659,167

(continued)

F-8

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 24
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		453,512			427,181
Notes receivable		-			-
Other assets		-			-
	$	453,512		$	427,181
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	5,000		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		5,000			-
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,169,878  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,169,878 issued and 2,152,753 and 2,154,253 outstanding at March 31, 2018 and 2017, respectively.		623,279			602,161
General partner		(174,767	)		(174,980	)
		448,512			427,181
	$	453,512		$	427,181

(continued)

F-9

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 25
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		-			344,461
Notes receivable		-			-
Other assets		-			1,250
	$	-		$	345,711
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		-			-
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,026,109  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,026,109 issued and 3,016,809 and 3,016,809 outstanding at March 31, 2018 and 2017, respectively.		219,815			565,870
General partner		(219,815	)		(220,159	)
		-			345,711
	$	-		$	345,711

(continued)

F-10

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 26
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		642,258			677,679
Notes receivable		-			-
Other assets		-			-
	$	642,258		$	677,679
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		-			-
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,995,900  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,995,900 issued and 3,965,400 and 3,977,000 outstanding at March 31, 2018 and 2017, respectively.		954,178			989,245
General partner		(311,920	)		(311,566	)
		642,258			677,679
	$	642,258		$	677,679

(continued)

F-11

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 27
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		6,799,933			3,606,473
Notes receivable		-			-
Other assets		-			-
	$	6,799,933		$	3,606,473
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	31,673
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		-			31,673
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,460,700  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,460,700 issued and 2,443,900 and 2,446,400 outstanding at March 31, 2018 and 2017, respectively.		6,938,381			3,745,499
General partner		(138,448	)		(170,699	)
		6,799,933			3,574,800
	$	6,799,933		$	3,606,473

(continued)

F-12

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 28
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		742,564			812,483
Notes receivable		-			-
Other assets		-			-
	$	742,564		$	812,483
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		-			-
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,000,738  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,000,738 issued and 3,984,138 and 3,990,738 outstanding at March 31, 2018 and 2017, respectively.		1,016,975			1,086,195
General partner		(274,411	)		(273,712	)
		742,564			812,483
	$	742,564		$	812,483

(continued)

F-13

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 29
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		622,414			345,648
Notes receivable		-			-
Other assets		-			-
	$	622,414		$	345,648
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		3,559,561			3,479,192
Capital contributions payable		885			8,235
		3,560,446			3,487,427
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,991,800  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,991,800 issued and 3,955,225 and 3,965,300 outstanding at March 31, 2018 and 2017, respectively.		(2,570,004	)		(2,771,714	)
General partner		(368,028	)		(370,065	)
		(2,938,032	)		(3,141,779	)
	$	622,414		$	345,648

(continued)

F-14

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 30
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		453,433			270,126
Notes receivable		-			-
Other assets		-			-
	$	453,433		$	270,126
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	3,500		$	-
Accounts payable - affiliates		1,620,957			1,641,976
Capital contributions payable		65,176			105,139
		1,689,633			1,747,115
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,651,000  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,651,000 issued and 2,621,200 and 2,631,000 outstanding at March 31, 2018 and 2017, respectively.		(996,782	)		(1,235,163	)
General partner		(239,418	)		(241,826	)
		(1,236,200	)		(1,476,989	)
	$	453,433		$	270,126

(continued)

F-15

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 31
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		1,971,680			2,047,648
Notes receivable		-			-
Other assets		25,000			25,000
	$	1,996,680		$	2,072,648
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		66,294			66,294
		66,294			66,294
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,417,857  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,417,857  issued and 4,382,757 and 4,395,557 outstanding at March 31, 2018 and 2017, respectively.		2,290,341			2,365,549
General partner		(359,955	)		(359,195	)
		1,930,386			2,006,354
	$	1,996,680		$	2,072,648

(continued)

F-16

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 32
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		563,697			837,185
Notes receivable		-			-
Other assets		-			-
	$	563,697		$	837,185
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	2,000
Accounts payable - affiliates		924,936			2,772,531
Capital contributions payable		1,229			1,229
		926,165			2,775,760
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,754,198  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,754,198 issued and 4,736,198 and 4,740,198 outstanding at March 31, 2018 and 2017, respectively.		47,520			(1,512,826	)
General partner		(409,988	)		(425,749	)
		(362,468	)		(1,938,575	)
	$	563,697		$	837,185

(continued)

F-17

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 33
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		452,033			337,765
Notes receivable		-			-
Other assets		-			-
	$	452,033		$	337,765
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		1,252,955			1,190,828
Capital contributions payable		-			69,154
		1,252,955			1,259,982
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,636,533  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,636,533 issued and 2,626,533 and 2,626,533 outstanding at March 31, 2018 and 2017, respectively.		(567,133	)		(687,215	)
General partner		(233,789	)		(235,002	)
		(800,922	)		(922,217	)
	$	452,033		$	337,765

(continued)

F-18

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 34
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		394,837			849,078
Notes receivable		-			-
Other assets		-			-
	$	394,837		$	849,078
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		2,840,368			3,221,597
Capital contributions payable		-			-
		2,840,368			3,221,597
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,529,319  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,529,319 issued and 3,509,919 and 3,517,419 outstanding at March 31, 2018 and 2017, respectively.		(2,120,686	)		(2,048,404	)
General partner		(324,845	)		(324,115	)
		(2,445,531	)		(2,372,519	)
	$	394,837		$	849,078

(continued)

F-19

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 35
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		4,428,306			2,392,767
Notes receivable		-			-
Other assets		-			-
	$	4,428,306		$	2,392,767
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			551,982
Capital contributions payable		-			-
		-			551,982
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,300,463  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,300,463 issued and 3,279,913 and 3,288,363 outstanding at March 31, 2018 and 2017, respectively.		4,666,048			2,104,402
General partner		(237,742	)		(263,617	)
		4,428,306			1,840,785
	$	4,428,306		$	2,392,767

(continued)

F-20

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 36
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		2,106,050			2,934,317
Notes receivable		-			-
Other assets		-			-
	$	2,106,050		$	2,934,317
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	131,000		$	131,000
Accounts payable - affiliates		-			767,505
Capital contributions payable		-			-
		131,000			898,505
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,106,838  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,106,838 issued and 2,092,704 and 2,095,704 outstanding at March 31, 2018 and 2017, respectively.		2,133,963			2,194,117
General partner		(158,913	)		(158,305	)
		1,975,050			2,035,812
	$	2,106,050		$	2,934,317

(continued)

F-21

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 37
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		517,887			2,096,039
Notes receivable		-			-
Other assets		-			-
	$	517,887		$	2,096,039
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		513,149			2,043,715
Capital contributions payable		-			138,438
		513,149			2,182,153
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,512,500  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,512,500 issued and 2,489,100 and 2,495,600 outstanding at March 31, 2018 and 2017, respectively.		220,255			130,312
General partner		(215,517	)		(216,426	)
		4,738			(86,114	)
	$	517,887		$	2,096,039

(continued)

F-22

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 38
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		1,492,145			3,042,864
Notes receivable		-			-
Other assets		-			-
	$	1,492,145		$	3,042,864
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	6,543
Accounts payable - affiliates		18,234			1,515,985
Capital contributions payable		-			-
		18,234			1,522,528
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,543,100  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,543,100 issued and 2,538,700 and 2,540,100 outstanding at March 31, 2018 and 2017, respectively.		1,677,456			1,723,417
General partner		(203,545	)		(203,081	)
		1,473,911			1,520,336
	$	1,492,145		$	3,042,864

(continued)

F-23

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 39
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		-			1,248,898
Notes receivable		-			-
Other assets		-			-
	$	-		$	1,248,898
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	6,543
Accounts payable - affiliates		-			1,154,240
Capital contributions payable		-			-
		-			1,160,783
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,292,151  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,292,151 issued and 2,288,351 and 2,288,351 outstanding at March 31, 2018 and 2017, respectively.		196,043			283,677
General partner		(196,043	)		(195,562	)
		-			88,115
	$	-		$	1,248,898

(continued)

F-24

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 40
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		431,341			248,318
Notes receivable		-			-
Other assets		-			-
	$	431,341		$	248,318
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		2,413,069			2,684,058
Capital contributions payable		102			102
		2,413,171			2,684,160
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,630,256  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,630,256 issued and 2,621,756 and 2,622,756 outstanding at March 31, 2018 and 2017, respectively.		(1,737,068	)		(2,186,540	)
General partner		(244,762	)		(249,302	)
		(1,981,830	)		(2,435,842	)
	$	431,341		$	248,318

(continued)

F-25

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 41
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		741,152			322,902
Notes receivable		-			-
Other assets		-			1,218
	$	741,152		$	324,120
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	4,500
Accounts payable - affiliates		2,893,606			3,286,255
Capital contributions payable		-			100
		2,893,606			3,290,855
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,891,626  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,891,626 issued and 2,874,926 and 2,884,126 outstanding at March 31, 2018 and 2017, respectively.		(1,881,761	)		(2,687,899	)
General partner		(270,693	)		(278,836	)
		(2,152,454	)		(2,966,735	)
	$	741,152		$	324,120

(continued)

F-26

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 42
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		1,327,017			1,072,528
Notes receivable		-			22,790
Other assets		11,300			51,003
	$	1,338,317		$	1,146,321
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		254			73,433
		254			73,433
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,744,262  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,744,262 issued and 2,732,262 and 2,736,262 outstanding at March 31, 2018 and 2017, respectively.		1,565,620			1,303,097
General partner		(227,557	)		(230,209	)
		1,338,063			1,072,888
	$	1,338,317		$	1,146,321

(continued)

F-27

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 43
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		854,364			351,638
Notes receivable		-			-
Other assets		-			82,514
	$	854,364		$	434,152
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		915,591			771,794
Capital contributions payable		26,082			99,265
		941,673			871,059
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,637,987  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,637,987 issued and 3,629,487 and 3,632,487 outstanding at March 31, 2018 and 2017, respectively.		235,085			(111,017	)
General partner		(322,394	)		(325,890	)
		(87,309	)		(436,907	)
	$	854,364		$	434,152

(continued)

F-28

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 44
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		84,006			66,324
Notes receivable		-			-
Other assets		-			-
	$	84,006		$	66,324
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		2,830,127			2,584,641
Capital contributions payable		-			-
		2,830,127			2,584,641
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,701,973  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,701,973 issued and 2,693,973 and 2,699,473 outstanding at March 31, 2018 and 2017, respectively.		(2,481,212	)		(2,255,686	)
General partner		(264,909	)		(262,631	)
		(2,746,121	)		(2,518,317	)
	$	84,006		$	66,324

(continued)

F-29

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 45
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		753,702			803,153
Notes receivable		-			-
Other assets		-			-
	$	753,702		$	803,153
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	515,173		$	515,173
Accounts payable - affiliates		2,584,511			2,357,846
Capital contributions payable		16,724			16,724
		3,116,408			2,889,743
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,014,367  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,014,367 issued and 4,008,167 and 4,009,667 outstanding at March 31, 2018 and 2017, respectively.		(1,985,417	)		(1,712,062	)
General partner		(377,289	)		(374,528	)
		(2,362,706	)		(2,086,590	)
	$	753,702		$	803,153

(continued)

F-30

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 46
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		466,399			651,129
Notes receivable		-			-
Other assets		3,788			3,788
	$	470,187		$	654,917
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		1,871,990			1,886,971
Capital contributions payable		-			-
		1,871,990			1,886,971
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,980,998  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,980,998 issued and 2,968,635 and 2,971,998 outstanding at March 31, 2018 and 2017, respectively.		(1,125,043	)		(956,991	)
General partner		(276,760	)		(275,063	)
		(1,401,803	)		(1,232,054	)
	$	470,187		$	654,917

(see notes to financial statements)

F-31

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS

Years ended March 31, 2018 and 2017

	Total
	2018		2017
Income
Interest income	$	115,386	$	52,063
Miscellaneous		351,362		318,673
		466,748		370,736
Gain on sale of operating limited partnerships		12,575,304		18,806,644
Expenses and loss
Fund management fee		1,994,955		2,469,863
General and administrative expenses		626,460		780,422
Professional fees		633,441		823,805
		3,254,856		4,074,090
NET INCOME (LOSS)	$	9,787,196	$	15,103,290
Net income (loss) allocated to general partner	$	97,872	$	151,033
Net income (loss) allocated to limited partners	$	9,689,324	$	14,952,257
Net income (loss) per BAC	$	0.12	$	0.18

(continued)

F-32

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 20
	2018			2017
Income
Interest income	$	611		$	441
Miscellaneous		4,281			-
		4,892			441
Gain on sale of operating limited partnerships		42,000			138,000
Expenses and loss
Fund management fee		17,204			23,476
General and administrative expenses		21,644			35,102
Professional fees		14,938			14,542
		53,786			73,120
NET INCOME (LOSS)	$	(6,894	)	$	65,321
Net income (loss) allocated to general partner	$	(69	)	$	653
Net income (loss) allocated to limited partners	$	(6,825	)	$	64,668
Net income (loss) per BAC	$	-		$	0.02

(continued)

F-33

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 21
	2018		2017
Income
Interest income	$	137	$	582
Miscellaneous		859		859
		996		1,441
Gain on sale of operating limited partnerships		67,000		-
Expenses and loss
Fund management fee		5,603		8,821
General and administrative expenses		40,874		22,774
Professional fees		12,275		14,784
		58,752		46,379
NET INCOME (LOSS)	$	9,244	$	(44,938	)
Net income (loss) allocated to general partner	$	92	$	(449	)
Net income (loss) allocated to limited partners	$	9,152	$	(44,489	)
Net income (loss) per BAC	$	-	$	(0.02	)

(continued)

F-34

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 22
	2018			2017
Income
Interest income	$	623		$	376
Miscellaneous		-			-
		623			376
Gain on sale of operating limited partnerships		-			-
Expenses and loss
Fund management fee		28,112			28,108
General and administrative expenses		18,448			28,021
Professional fees		13,475			17,041
		60,035			73,170
NET INCOME (LOSS)	$	(59,412	)	$	(72,794	)
Net income (loss) allocated to general partner	$	(594	)	$	(728	)
Net income (loss) allocated to limited partners	$	(58,818	)	$	(72,066	)
Net income (loss) per BAC	$	(0.02	)	$	(0.03	)

(continued)

F-35

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 23
	2018		2017
Income
Interest income	$	3,914	$	303
Miscellaneous		7,909		-
		11,823		303
Gain on sale of operating limited partnerships		989,962		488,550
Expenses and loss
Fund management fee		20,474		32,282
General and administrative expenses		20,819		33,636
Professional fees		17,236		20,807
		58,529		86,725
NET INCOME (LOSS)	$	943,256	$	402,128
Net income (loss) allocated to general partner	$	9,433	$	4,021
Net income (loss) allocated to limited partners	$	933,823	$	398,107
Net income (loss) per BAC	$	0.28	$	0.12

(continued)

F-36

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 24
	2018		2017
Income
Interest income	$	743	$	380
Miscellaneous		3,948		6,026
		4,691		6,406
Gain on sale of operating limited partnerships		95,000		-
Expenses and loss
Fund management fee		45,683		40,285
General and administrative expenses		17,684		26,138
Professional fees		14,993		15,354
		78,360		81,777
NET INCOME (LOSS)	$	21,331	$	(75,371	)
Net income (loss) allocated to general partner	$	213	$	(754	)
Net income (loss) allocated to limited partners	$	21,118	$	(74,617	)
Net income (loss) per BAC	$	0.01	$	(0.03	)

(continued)

F-37

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 25
	2018		2017
Income
Interest income	$	143	$	331
Miscellaneous		10,178		10,178
		10,321		10,509
Gain on sale of operating limited partnerships		97,399		-
Expenses and loss
Fund management fee		9,682		16,376
General and administrative expenses		49,639		31,302
Professional fees		13,993		14,167
		73,314		61,845
NET INCOME (LOSS)	$	34,406	$	(51,336	)
Net income (loss) allocated to general partner	$	344	$	(513	)
Net income (loss) allocated to limited partners	$	34,062	$	(50,823	)
Net income (loss) per BAC	$	0.01	$	(0.02	)

(continued)

F-38

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 26
	2018			2017
Income
Interest income	$	1,464		$	1,016
Miscellaneous		526			6,176
		1,990			7,192
Gain on sale of operating limited partnerships		80,000			18,500
Expenses and loss
Fund management fee		72,467			87,735
General and administrative expenses		23,134			39,315
Professional fees		21,810			25,365
		117,411			152,415
NET INCOME (LOSS)	$	(35,421	)	$	(126,723	)
Net income (loss) allocated to general partner	$	(354	)	$	(1,267	)
Net income (loss) allocated to limited partners	$	(35,067	)	$	(125,456	)
Net income (loss) per BAC	$	(0.01	)	$	(0.03	)

(continued)

F-39

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 27
	2018		2017
Income
Interest income	$	28,709	$	9,157
Miscellaneous		32,473		6,000
		61,182		15,157
Gain on sale of operating limited partnerships		3,291,567		3,016,000
Expenses and loss
Fund management fee		30,313		99,812
General and administrative expenses		17,529		25,464
Professional fees		79,774		230,717
		127,616		355,993
NET INCOME (LOSS)	$	3,225,133	$	2,675,164
Net income (loss) allocated to general partner	$	32,251	$	26,752
Net income (loss) allocated to limited partners	$	3,192,882	$	2,648,412
Net income (loss) per BAC	$	1.31	$	1.08

(continued)

F-40

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 28
	2018			2017
Income
Interest income	$	1,605		$	1,151
Miscellaneous		446			7,976
		2,051			9,127
Gain on sale of operating limited partnerships		-			5,000
Expenses and loss
Fund management fee		33,376			21,679
General and administrative expenses		21,296			34,775
Professional fees		17,298			22,117
		71,970			78,571
NET INCOME (LOSS)	$	(69,919	)	$	(64,444	)
Net income (loss) allocated to general partner	$	(699	)	$	(644	)
Net income (loss) allocated to limited partners	$	(69,220	)	$	(63,800	)
Net income (loss) per BAC	$	(0.02	)	$	(0.02	)

(continued)

F-41

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 29
	2018		2017
Income
Interest income	$	1,017	$	749
Miscellaneous		-		-
		1,017		749
Gain on sale of operating limited partnerships		303,958		-
Expenses and loss
Fund management fee		60,982		74,532
General and administrative expenses		22,264		35,610
Professional fees		17,982		64,404
		101,228		174,546
NET INCOME (LOSS)	$	203,747	$	(173,797	)
Net income (loss) allocated to general partner	$	2,037	$	(1,738	)
Net income (loss) allocated to limited partners	$	201,710	$	(172,059	)
Net income (loss) per BAC	$	0.05	$	(0.04	)

(continued)

F-42

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 30
	2018		2017
Income
Interest income	$	1,218	$	637
Miscellaneous		1,243		1,243
		2,461		1,880
Gain on sale of operating limited partnerships		276,484		-
Expenses and loss
Fund management fee		3,527		59,468
General and administrative expenses		17,740		25,835
Professional fees		16,889		20,428
		38,156		105,731
NET INCOME (LOSS)	$	240,789	$	(103,851	)
Net income (loss) allocated to general partner	$	2,408	$	(1,039	)
Net income (loss) allocated to limited partners	$	238,381	$	(102,812	)
Net income (loss) per BAC	$	0.09	$	(0.04	)

(continued)

F-43

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 31
	2018			2017
Income
Interest income	$	7,323		$	2,782
Miscellaneous		1,116			590
		8,439			3,372
Gain on sale of operating limited partnerships		45,000			877,411
Expenses and loss
Fund management fee		80,082			121,262
General and administrative expenses		21,870			34,845
Professional fees		27,455			25,789
		129,407			181,896
NET INCOME (LOSS)	$	(75,968	)	$	698,887
Net income (loss) allocated to general partner	$	(760	)	$	6,989
Net income (loss) allocated to limited partners	$	(75,208	)	$	691,898
Net income (loss) per BAC	$	(0.02	)	$	0.16

(continued)

F-44

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 32
	2018		2017
Income
Interest income	$	3,929	$	1,309
Miscellaneous		21,375		4,300
		25,304		5,609
Gain on sale of operating limited partnerships		1,677,252		569,552
Expenses and loss
Fund management fee		79,708		144,806
General and administrative expenses		26,372		36,276
Professional fees		20,369		20,055
		126,449		201,137
NET INCOME (LOSS)	$	1,576,107	$	374,024
Net income (loss) allocated to general partner	$	15,761	$	3,740
Net income (loss) allocated to limited partners	$	1,560,346	$	370,284
Net income (loss) per BAC	$	0.33	$	0.08

(continued)

F-45

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 33
	2018		2017
Income
Interest income	$	963	$	1,400
Miscellaneous		5,329		1,800
		6,292		3,200
Gain on sale of operating limited partnerships		177,044		-
Expenses and loss
Fund management fee		30,737		56,922
General and administrative expenses		16,996		24,374
Professional fees		14,308		16,186
		62,041		97,482
NET INCOME (LOSS)	$	121,295	$	(94,282	)
Net income (loss) allocated to general partner	$	1,213	$	(943	)
Net income (loss) allocated to limited partners	$	120,082	$	(93,339	)
Net income (loss) per BAC	$	0.05	$	(0.04	)

(continued)

F-46

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 34
	2018			2017
Income
Interest income	$	1,908		$	1,445
Miscellaneous		5,526			15,442
		7,434			16,887
Gain on sale of operating limited partnerships		-			630,691
Expenses and loss
Fund management fee		43,262			41,426
General and administrative expenses		19,236			29,336
Professional fees		17,948			20,074
		80,446			90,836
NET INCOME (LOSS)	$	(73,012	)	$	556,742
Net income (loss) allocated to general partner	$	(730	)	$	5,567
Net income (loss) allocated to limited partners	$	(72,282	)	$	551,175
Net income (loss) per BAC	$	(0.02	)	$	0.16

(continued)

F-47

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 35
	2018		2017
Income
Interest income	$	14,836	$	8,322
Miscellaneous		2,818		4,893
		17,654		13,215
Gain on sale of operating limited partnerships		2,653,528		2,720,765
Expenses and loss
Fund management fee		47,409		43,447
General and administrative expenses		18,963		29,293
Professional fees		17,289		19,443
		83,661		92,183
NET INCOME (LOSS)	$	2,587,521	$	2,641,797
Net income (loss) allocated to general partner	$	25,875	$	26,418
Net income (loss) allocated to limited partners	$	2,561,646	$	2,615,379
Net income (loss) per BAC	$	0.78	$	0.80

(continued)

F-48

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 36
	2018			2017
Income
Interest income	$	8,490		$	5,514
Miscellaneous		3,968			6,425
		12,458			11,939
Gain on sale of operating limited partnerships		-			2,515,373
Expenses and loss
Fund management fee		28,594			4,670
General and administrative expenses		15,908			21,777
Professional fees		28,718			18,357
		73,220			44,804
NET INCOME (LOSS)	$	(60,762	)	$	2,482,508
Net income (loss) allocated to general partner	$	(608	)	$	24,825
Net income (loss) allocated to limited partners	$	(60,154	)	$	2,457,683
Net income (loss) per BAC	$	(0.03	)	$	1.17

(continued)

F-49

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 37
	2018		2017
Income
Interest income	$	5,243	$	3,535
Miscellaneous		16,657		4,811
		21,900		8,346
Gain on sale of operating limited partnerships		140,415		2,349,732
Expenses and loss
Fund management fee		38,125		106,790
General and administrative expenses		16,053		22,977
Professional fees		17,285		15,269
		71,463		145,036
NET INCOME (LOSS)	$	90,852	$	2,213,042
Net income (loss) allocated to general partner	$	909	$	22,130
Net income (loss) allocated to limited partners	$	89,943	$	2,190,912
Net income (loss) per BAC	$	0.04	$	0.88

(continued)

F-50

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 38
	2018			2017
Income
Interest income	$	9,561		$	1,203
Miscellaneous		42,616			85,146
		52,177			86,349
Gain on sale of operating limited partnerships		-			3,273,698
Expenses and loss
Fund management fee		62,236			103,420
General and administrative expenses		16,974			24,162
Professional fees		19,392			20,192
		98,602			147,774
NET INCOME (LOSS)	$	(46,425	)	$	3,212,273
Net income (loss) allocated to general partner	$	(464	)	$	32,123
Net income (loss) allocated to limited partners	$	(45,961	)	$	3,180,150
Net income (loss) per BAC	$	(0.02	)	$	1.25

(continued)

F-51

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 39
	2018			2017
Income
Interest income	$	870		$	663
Miscellaneous		386			1,210
		1,256			1,873
Gain on sale of operating limited partnerships		17,779			1,645,989
Expenses and loss
Fund management fee		5,130			52,601
General and administrative expenses		42,679			21,423
Professional fees		19,295			19,307
		67,104			93,331
NET INCOME (LOSS)	$	(48,069	)	$	1,554,531
Net income (loss) allocated to general partner	$	(481	)	$	15,545
Net income (loss) allocated to limited partners	$	(47,588	)	$	1,538,986
Net income (loss) per BAC	$	(0.02	)	$	0.67

(continued)

F-52

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 40
	2018		2017
Income
Interest income	$	1,393	$	315
Miscellaneous		5,922		-
		7,315		315
Gain on sale of operating limited partnerships		588,952		93,700
Expenses and loss
Fund management fee		100,188		126,039
General and administrative expenses		17,352		23,982
Professional fees		24,715		23,123
		142,255		173,144
NET INCOME (LOSS)	$	454,012	$	(79,129	)
Net income (loss) allocated to general partner	$	4,540	$	(791	)
Net income (loss) allocated to limited partners	$	449,472	$	(78,338	)
Net income (loss) per BAC	$	0.17	$	(0.03	)

(continued)

F-53

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 41
	2018		2017
Income
Interest income	$	2,248	$	651
Miscellaneous		13,908		42,406
		16,156		43,057
Gain on sale of operating limited partnerships		1,026,859		70,500
Expenses and loss
Fund management fee		184,017		196,640
General and administrative expenses		20,998		27,796
Professional fees		23,719		26,340
		228,734		250,776
NET INCOME (LOSS)	$	814,281	$	(137,219	)
Net income (loss) allocated to general partner	$	8,143	$	(1,372	)
Net income (loss) allocated to limited partners	$	806,138	$	(135,847	)
Net income (loss) per BAC	$	0.28	$	(0.05	)

(continued)

F-54

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 42
	2018		2017
Income
Interest income	$	7,705	$	4,004
Miscellaneous		15,960		4,406
		23,665		8,410
Gain on sale of operating limited partnerships		427,305		-
Expenses and loss
Fund management fee		135,503		152,300
General and administrative expenses		18,799		26,109
Professional fees		31,493		29,190
		185,795		207,599
NET INCOME (LOSS)	$	265,175	$	(199,189	)
Net income (loss) allocated to general partner	$	2,652	$	(1,992	)
Net income (loss) allocated to limited partners	$	262,523	$	(197,197	)
Net income (loss) per BAC	$	0.10	$	(0.07	)

(continued)

F-55

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 43
	2018		2017
Income
Interest income	$	6,220	$	4,077
Miscellaneous		46,345		1,759
		52,565		5,836
Gain on sale of operating limited partnerships		566,806		-
Expenses and loss
Fund management fee		194,502		190,024
General and administrative expenses		40,459		31,565
Professional fees		34,812		30,278
		269,773		251,867
NET INCOME (LOSS)	$	349,598	$	(246,031	)
Net income (loss) allocated to general partner	$	3,496	$	(2,460	)
Net income (loss) allocated to limited partners	$	346,102	$	(243,571	)
Net income (loss) per BAC	$	0.10	$	(0.07	)

(continued)

F-56

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 44
	2018			2017
Income
Interest income	$	158		$	36
Miscellaneous		18,760			16,818
		18,918			16,854
Gain on sale of operating limited partnerships		-			-
Expenses and loss
Fund management fee		203,181			206,172
General and administrative expenses		18,000			25,049
Professional fees		25,541			17,150
		246,722			248,371
NET INCOME (LOSS)	$	(227,804	)	$	(231,517	)
Net income (loss) allocated to general partner	$	(2,278	)	$	(2,315	)
Net income (loss) allocated to limited partners	$	(225,526	)	$	(229,202	)
Net income (loss) per BAC	$	(0.08	)	$	(0.09	)

(continued)

F-57

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 45
	2018			2017
Income
Interest income	$	2,590		$	1,204
Miscellaneous		47,297			53,785
		49,887			54,989
Gain on sale of operating limited partnerships		-			-
Expenses and loss
Fund management fee		252,328			223,161
General and administrative expenses		24,850			35,365
Professional fees		48,825			40,737
		326,003			299,263
NET INCOME (LOSS)	$	(276,116	)	$	(244,274	)
Net income (loss) allocated to general partner	$	(2,761	)	$	(2,443	)
Net income (loss) allocated to limited partners	$	(273,355	)	$	(241,831	)
Net income (loss) per BAC	$	(0.07	)	$	(0.06	)

(continued)

F-58

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 46
	2018			2017
Income
Interest income	$	1,765		$	480
Miscellaneous		41,516			36,424
		43,281			36,904
Gain on sale of operating limited partnerships		10,994			393,183
Expenses and loss
Fund management fee		182,530			207,609
General and administrative expenses		19,880			28,121
Professional fees		21,614			22,589
		224,024			258,319
NET INCOME (LOSS)	$	(169,749	)	$	171,768
Net income (loss) allocated to general partner	$	(1,697	)	$	1,718
Net income (loss) allocated to limited partners	$	(168,052	)	$	170,050
Net income (loss) per BAC	$	(0.06	)	$	0.06

(see notes to financial statements)

F-59

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Years ended March 31, 2018 and 2017

Total	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(21,290,383	)	$	(7,328,718	)	$	(28,619,101	)
Net income (loss)		14,952,257			151,033			15,103,290
Partners’ capital (deficit), March 31, 2017		(6,338,126	)		(7,177,685	)		(13,515,811	)
Contributions		-			1,070,891			1,070,891
Distributions		(420,163	)		-			(420,163	)
Net income (loss)		9,689,324			97,872			9,787,196
Partners’ capital (deficit), March 31, 2018	$	2,931,035		$	(6,008,922	)	$	(3,077,887	)

Series 20	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(940,299	)	$	(320,864	)	$	(1,261,163	)
Net income (loss)		64,668			653			65,321
Partners’ capital (deficit), March 31, 2017		(875,631	)		(320,211	)		(1,195,842	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(6,825	)		(69	)		(6,894	)
Partners’ capital (deficit), March 31, 2018	$	(882,456	)	$	(320,280	)	$	(1,202,736	)

Series 21	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(862,894	)	$	(172,303	)	$	(1,035,197	)
Net income (loss)		(44,489	)		(449	)		(44,938	)
Partners’ capital (deficit), March 31, 2017		(907,383	)		(172,752	)		(1,080,135	)
Contributions		-			1,070,891			1,070,891
Distributions		-			-			-
Net income (loss)		9,152			92			9,244
Partners’ capital (deficit), March 31, 2018	$	(898,231	)	$	898,231		$	-

Series 22	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,279,715	)	$	(244,324	)	$	(2,524,039	)
Net income (loss)		(72,066	)		(728	)		(72,794	)
Partners’ capital (deficit), March 31, 2017		(2,351,781	)		(245,052	)		(2,596,833	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(58,818	)		(594	)		(59,412	)
Partners’ capital (deficit), March 31, 2018	$	(2,410,599	)	$	(245,646	)	$	(2,656,245	)

(continued)

F-60

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2018 and 2017

Series 23	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,529,462	)	$	(303,173	)	$	(1,832,635	)
Net income (loss)		398,107			4,021			402,128
Partners’ capital (deficit), March 31, 2017		(1,131,355	)		(299,152	)		(1,430,507	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		933,823			9,433			943,256
Partners’ capital (deficit), March 31, 2018	$	(197,532	)	$	(289,719	)	$	(487,251	)

Series 24	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	676,778		$	(174,226	)	$	502,552
Net income (loss)		(74,617	)		(754	)		(75,371	)
Partners’ capital (deficit), March 31, 2017		602,161			(174,980	)		427,181
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		21,118			213			21,331
Partners’ capital (deficit), March 31, 2018	$	623,279		$	(174,767	)	$	448,512

Series 25	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	616,693		$	(219,646	)	$	397,047
Net income (loss)		(50,823	)		(513	)		(51,336	)
Partners’ capital (deficit), March 31, 2017		565,870			(220,159	)		345,711
Contributions		-			-			-
Distributions		(380,117	)		-			(380,117	)
Net income (loss)		34,062			344			34,406
Partners’ capital (deficit), March 31, 2018	$	219,815		$	(219,815	)	$	-

Series 26	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	1,114,701		$	(310,299	)	$	804,402
Net income (loss)		(125,456	)		(1,267	)		(126,723	)
Partners’ capital (deficit), March 31, 2017		989,245			(311,566	)		677,679
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(35,067	)		(354	)		(35,421	)
Partners’ capital (deficit), March 31, 2018	$	954,178		$	(311,920	)	$	642,258

(continued)

F-61

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2018 and 2017

Series 27	Limited partners		General partner			Total
Partners’ capital (deficit), March 31, 2016	$	1,097,087	$	(197,451	)	$	899,636
Net income (loss)		2,648,412		26,752			2,675,164
Partners’ capital (deficit), March 31, 2017		3,745,499		(170,699	)		3,574,800
Contributions		-		-			-
Distributions		-		-			-
Net income (loss)		3,192,882		32,251			3,225,133
Partners’ capital (deficit), March 31, 2018	$	6,938,381	$	(138,448	)	$	6,799,933

Series 28	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	1,149,995		$	(273,068	)	$	876,927
Net income (loss)		(63,800	)		(644	)		(64,444	)
Partners’ capital (deficit), March 31, 2017		1,086,195			(273,712	)		812,483
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(69,220	)		(699	)		(69,919	)
Partners’ capital (deficit), March 31, 2018	$	1,016,975		$	(274,411	)	$	742,564

Series 29	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,599,655	)	$	(368,327	)	$	(2,967,982	)
Net income (loss)		(172,059	)		(1,738	)		(173,797	)
Partners’ capital (deficit), March 31, 2017		(2,771,714	)		(370,065	)		(3,141,779	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		201,710			2,037			203,747
Partners’ capital (deficit), March 31, 2018	$	(2,570,004	)	$	(368,028	)	$	(2,938,032	)

Series 30	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,132,351	)	$	(240,787	)	$	(1,373,138	)
Net income (loss)		(102,812	)		(1,039	)		(103,851	)
Partners’ capital (deficit), March 31, 2017		(1,235,163	)		(241,826	)		(1,476,989	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		238,381			2,408			240,789
Partners’ capital (deficit), March 31, 2018	$	(996,782	)	$	(239,418	)	$	(1,236,200	)

(continued)

F-62

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2018 and 2017

Series 31	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	1,673,651		$	(366,184	)	$	1,307,467
Net income (loss)		691,898			6,989			698,887
Partners’ capital (deficit), March 31, 2017		2,365,549			(359,195	)		2,006,354
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(75,208	)		(760	)		(75,968	)
Partners’ capital (deficit), March 31, 2018	$	2,290,341		$	(359,955	)	$	1,930,386

Series 32	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,883,110	)	$	(429,489	)	$	(2,312,599	)
Net income (loss)		370,284			3,740			374,024
Partners’ capital (deficit), March 31, 2017		(1,512,826	)		(425,749	)		(1,938,575	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		1,560,346			15,761			1,576,107
Partners’ capital (deficit), March 31, 2018	$	47,520		$	(409,988	)	$	(362,468	)

Series 33	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(593,876	)	$	(234,059	)	$	(827,935	)
Net income (loss)		(93,339	)		(943	)		(94,282	)
Partners’ capital (deficit), March 31, 2017		(687,215	)		(235,002	)		(922,217	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		120,082			1,213			121,295
Partners’ capital (deficit), March 31, 2018	$	(567,133	)	$	(233,789	)	$	(800,922	)

Series 34	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,599,579	)	$	(329,682	)	$	(2,929,261	)
Net income (loss)		551,175			5,567			556,742
Partners’ capital (deficit), March 31, 2017		(2,048,404	)		(324,115	)		(2,372,519	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(72,282	)		(730	)		(73,012	)
Partners’ capital (deficit), March 31, 2018	$	(2,120,686	)	$	(324,845	)	$	(2,445,531	)

(continued)

F-63

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2018 and 2017

Series 35	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(510,977	)	$	(290,035	)	$	(801,012	)
Net income (loss)		2,615,379			26,418			2,641,797
Partners’ capital (deficit), March 31, 2017		2,104,402			(263,617	)		1,840,785
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		2,561,646			25,875			2,587,521
Partners’ capital (deficit), March 31, 2018	$	4,666,048		$	(237,742	)	$	4,428,306

Series 36	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(263,566	)	$	(183,130	)	$	(446,696	)
Net income (loss)		2,457,683			24,825			2,482,508
Partners’ capital (deficit), March 31, 2017		2,194,117			(158,305	)		2,035,812
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(60,154	)		(608	)		(60,762	)
Partners’ capital (deficit), March 31, 2018	$	2,133,963		$	(158,913	)	$	1,975,050

Series 37	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,060,600	)	$	(238,556	)	$	(2,299,156	)
Net income (loss)		2,190,912			22,130			2,213,042
Partners’ capital (deficit), March 31, 2017		130,312			(216,426	)		(86,114	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		89,943			909			90,852
Partners’ capital (deficit), March 31, 2018	$	220,255		$	(215,517	)	$	4,738

Series 38	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,456,733	)	$	(235,204	)	$	(1,691,937	)
Net income (loss)		3,180,150			32,123			3,212,273
Partners’ capital (deficit), March 31, 2017		1,723,417			(203,081	)		1,520,336
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(45,961	)		(464	)		(46,425	)
Partners’ capital (deficit), March 31, 2018	$	1,677,456		$	(203,545	)	$	1,473,911

(continued)

F-64

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2018 and 2017

Series 39	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,255,309	)	$	(211,107	)	$	(1,466,416	)
Net income (loss)		1,538,986			15,545			1,554,531
Partners’ capital (deficit), March 31, 2017		283,677			(195,562	)		88,115
Contributions		-			-			-
Distributions		(40,046	)		-			(40,046	)
Net income (loss)		(47,588	)		(481	)		(48,069	)
Partners’ capital (deficit), March 31, 2018	$	196,043		$	(196,043	)	$	-

Series 40	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,108,202	)	$	(248,511	)	$	(2,356,713	)
Net income (loss)		(78,338	)		(791	)		(79,129	)
Partners’ capital (deficit), March 31, 2017		(2,186,540	)		(249,302	)		(2,435,842	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		449,472			4,540			454,012
Partners’ capital (deficit), March 31, 2018	$	(1,737,068	)	$	(244,762	)	$	(1,981,830	)

Series 41	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,552,052	)	$	(277,464	)	$	(2,829,516	)
Net income (loss)		(135,847	)		(1,372	)		(137,219	)
Partners’ capital (deficit), March 31, 2017		(2,687,899	)		(278,836	)		(2,966,735	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		806,138			8,143			814,281
Partners’ capital (deficit), March 31, 2018	$	(1,881,761	)	$	(270,693	)	$	(2,152,454	)

Series 42	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	1,500,294		$	(228,217	)	$	1,272,077
Net income (loss)		(197,197	)		(1,992	)		(199,189	)
Partners’ capital (deficit), March 31, 2017		1,303,097			(230,209	)		1,072,888
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		262,523			2,652			265,175
Partners’ capital (deficit), March 31, 2018	$	1,565,620		$	(227,557	)	$	1,338,063

(continued)

F-65

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2018 and 2017

Series 43	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	132,554		$	(323,430	)	$	(190,876	)
Net income (loss)		(243,571	)		(2,460	)		(246,031	)
Partners’ capital (deficit), March 31, 2017		(111,017	)		(325,890	)		(436,907	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		346,102			3,496			349,598
Partners’ capital (deficit), March 31, 2018	$	235,085		$	(322,394	)	$	(87,309	)

Series 44	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,026,484	)	$	(260,316	)	$	(2,286,800	)
Net income (loss)		(229,202	)		(2,315	)		(231,517	)
Partners’ capital (deficit), March 31, 2017		(2,255,686	)		(262,631	)		(2,518,317	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(225,526	)		(2,278	)		(227,804	)
Partners’ capital (deficit), March 31, 2018	$	(2,481,212	)	$	(264,909	)	$	(2,746,121	)

Series 45	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,470,231	)	$	(372,085	)	$	(1,842,316	)
Net income (loss)		(241,831	)		(2,443	)		(244,274	)
Partners’ capital (deficit), March 31, 2017		(1,712,062	)		(374,528	)		(2,086,590	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(273,355	)		(2,761	)		(276,116	)
Partners’ capital (deficit), March 31, 2018	$	(1,985,417	)	$	(377,289	)	$	(2,362,706	)

Series 46	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,127,041	)	$	(276,781	)	$	(1,403,822	)
Net income (loss)		170,050			1,718			171,768
Partners’ capital (deficit), March 31, 2017		(956,991	)		(275,063	)		(1,232,054	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(168,052	)		(1,697	)		(169,749	)
Partners’ capital (deficit), March 31, 2018	$	(1,125,043	)	$	(276,760	)	$	(1,401,803	)

(see notes to financial statements)

F-66

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Years ended March 31, 2018 and 2017

	Total
	2018			2017
Cash flows from operating activities
Net income (loss)	$	9,787,196		$	15,103,290
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(12,575,304	)		(18,806,644	)
Changes in assets and liabilities
Other assets		20,124			-
Accounts payable and accrued expenses		(42,759	)		11,626
Accounts payable - affiliates		(9,071,662	)		(9,632,988	)
Net cash provided by (used in) operating activities		(11,882,405	)		(13,324,716	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		(19,011	)		-
Proceeds from disposition of operating limited partnerships		12,320,299			18,806,644
Net cash provided by (used in) investing activities		12,301,288			18,806,644
Cash flows from financing activities
Distributions		(420,163	)		-
Net cash used in financing activities		(420,163	)		-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,280	)		5,481,928
Cash and cash equivalents, beginning		27,209,997			21,728,069
Cash and cash equivalents, ending	$	27,208,717		$	27,209,997
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	1,070,891		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	127,351		$	-

(continued)

F-67

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 20
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(6,894	)	$	65,321
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(42,000	)		(138,000	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(22,179	)		24,843
Net cash provided by (used in) operating activities		(71,073	)		(47,836	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		42,000			138,000
Net cash provided by (used in) investing activities		42,000			138,000
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(29,073	)		90,164
Cash and cash equivalents, beginning		271,060			180,896
Cash and cash equivalents, ending	$	241,987		$	271,060
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-68

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 21
	2018			2017
Cash flows from operating activities
Net income (loss)	$	9,244		$	(44,938	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(67,000	)		-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(250,346	)		(139,128	)
Net cash provided by (used in) operating activities		(308,102	)		(184,066	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		67,000			-
Net cash provided by (used in) investing activities		67,000			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(241,102	)		(184,066	)
Cash and cash equivalents, beginning		241,102			425,168
Cash and cash equivalents, ending	$	-		$	241,102
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	1,070,891		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-69

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 22
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(59,412	)	$	(72,794	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		29,212			29,208
Net cash provided by (used in) operating activities		(30,200	)		(43,586	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(30,200	)		(43,586	)
Cash and cash equivalents, beginning		252,064			295,650
Cash and cash equivalents, ending	$	221,864		$	252,064
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-70

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 23
	2018			2017
Cash flows from operating activities
Net income (loss)	$	943,256		$	402,128
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(989,962	)		(488,550	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(1,156,287	)		37,362
Net cash provided by (used in) operating activities		(1,202,993	)		(49,060	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		989,962			488,550
Net cash provided by (used in) investing activities		989,962			488,550
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(213,031	)		439,490
Cash and cash equivalents, beginning		659,167			219,677
Cash and cash equivalents, ending	$	446,136		$	659,167
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-71

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 24
	2018			2017
Cash flows from operating activities
Net income (loss)	$	21,331		$	(75,371	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(95,000	)		-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		5,000			-
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(68,669	)		(75,371	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		95,000			-
Net cash provided by (used in) investing activities		95,000			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		26,331			(75,371	)
Cash and cash equivalents, beginning		427,181			502,552
Cash and cash equivalents, ending	$	453,512		$	427,181
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-72

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 25
	2018			2017
Cash flows from operating activities
Net income (loss)	$	34,406		$	(51,336	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(97,399	)		-
Changes in assets and liabilities
Other assets		1,250			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(61,743	)		(51,336	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		97,399			-
Net cash provided by (used in) investing activities		97,399			-
Cash flows from financing activities
Distributions		(380,117	)		-
Net cash used in financing activities		(380,117	)		-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(344,461	)		(51,336	)
Cash and cash equivalents, beginning		344,461			395,797
Cash and cash equivalents, ending	$	-		$	344,461
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-73

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 26
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(35,421	)	$	(126,723	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(80,000	)		(18,500	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(4,960	)
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(115,421	)		(150,183	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		80,000			18,500
Net cash provided by (used in) investing activities		80,000			18,500
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(35,421	)		(131,683	)
Cash and cash equivalents, beginning		677,679			809,362
Cash and cash equivalents, ending	$	642,258		$	677,679
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-74

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 27
	2018			2017
Cash flows from operating activities
Net income (loss)	$	3,225,133		$	2,675,164
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(3,291,567	)		(3,016,000	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		(31,673	)		31,673
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(98,107	)		(309,163	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		3,291,567			3,016,000
Net cash provided by (used in) investing activities		3,291,567			3,016,000
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		3,193,460			2,706,837
Cash and cash equivalents, beginning		3,606,473			899,636
Cash and cash equivalents, ending	$	6,799,933		$	3,606,473
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-75

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 28
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(69,919	)	$	(64,444	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			(5,000	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(7,500	)
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(69,919	)		(76,944	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			5,000
Net cash provided by (used in) investing activities		-			5,000
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(69,919	)		(71,944	)
Cash and cash equivalents, beginning		812,483			884,427
Cash and cash equivalents, ending	$	742,564		$	812,483
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-76

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 29
	2018			2017
Cash flows from operating activities
Net income (loss)	$	203,747		$	(173,797	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(303,958	)		-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		80,369			(99,313	)
Net cash provided by (used in) operating activities		(19,842	)		(273,110	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		296,608			-
Net cash provided by (used in) investing activities		296,608			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		276,766			(273,110	)
Cash and cash equivalents, beginning		345,648			618,758
Cash and cash equivalents, ending	$	622,414		$	345,648
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-77

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 30
	2018			2017
Cash flows from operating activities
Net income (loss)	$	240,789		$	(103,851	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(276,484	)		-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		3,500			-
Accounts payable - affiliates		(21,019	)		69,684
Net cash provided by (used in) operating activities		(53,214	)		(34,167	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		236,521			-
Net cash provided by (used in) investing activities		236,521			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		183,307			(34,167	)
Cash and cash equivalents, beginning		270,126			304,293
Cash and cash equivalents, ending	$	453,433		$	270,126
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-78

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 31
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(75,968	)	$	698,887
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(45,000	)		(877,411	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(3,000	)
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(120,968	)		(181,524	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		45,000			877,411
Net cash provided by (used in) investing activities		45,000			877,411
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(75,968	)		695,887
Cash and cash equivalents, beginning		2,047,648			1,351,761
Cash and cash equivalents, ending	$	1,971,680		$	2,047,648
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-79

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 32
	2018			2017
Cash flows from operating activities
Net income (loss)	$	1,576,107		$	374,024
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(1,677,252	)		(569,552	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		(2,000	)		(5,000	)
Accounts payable - affiliates		(1,847,595	)		(593,524	)
Net cash provided by (used in) operating activities		(1,950,740	)		(794,052	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		1,677,252			569,552
Net cash provided by (used in) investing activities		1,677,252			569,552
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(273,488	)		(224,500	)
Cash and cash equivalents, beginning		837,185			1,061,685
Cash and cash equivalents, ending	$	563,697		$	837,185
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-80

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 33
	2018			2017
Cash flows from operating activities
Net income (loss)	$	121,295		$	(94,282	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(177,044	)		-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		62,127			(834,408	)
Net cash provided by (used in) operating activities		6,378			(928,690	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		107,890			-
Net cash provided by (used in) investing activities		107,890			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		114,268			(928,690	)
Cash and cash equivalents, beginning		337,765			1,266,455
Cash and cash equivalents, ending	$	452,033		$	337,765
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-81

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 34
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(73,012	)	$	556,742
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			(630,691	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(381,229	)		(381,837	)
Net cash provided by (used in) operating activities		(454,241	)		(455,786	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			630,691
Net cash provided by (used in) investing activities		-			630,691
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(454,241	)		174,905
Cash and cash equivalents, beginning		849,078			674,173
Cash and cash equivalents, ending	$	394,837		$	849,078
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-82

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 35
	2018			2017
Cash flows from operating activities
Net income (loss)	$	2,587,521		$	2,641,797
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(2,653,528	)		(2,720,765	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(551,982	)		(1,942,253	)
Net cash provided by (used in) operating activities		(617,989	)		(2,021,221	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		2,653,528			2,720,765
Net cash provided by (used in) investing activities		2,653,528			2,720,765
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		2,035,539			699,544
Cash and cash equivalents, beginning		2,392,767			1,693,223
Cash and cash equivalents, ending	$	4,428,306		$	2,392,767
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-83

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 36
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(60,762	)	$	2,482,508
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			(2,515,373	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(2,500	)
Accounts payable - affiliates		(767,505	)		(525,031	)
Net cash provided by (used in) operating activities		(828,267	)		(560,396	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			2,515,373
Net cash provided by (used in) investing activities		-			2,515,373
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(828,267	)		1,954,977
Cash and cash equivalents, beginning		2,934,317			979,340
Cash and cash equivalents, ending	$	2,106,050		$	2,934,317
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-84

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 37
	2018			2017
Cash flows from operating activities
Net income (loss)	$	90,852		$	2,213,042
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(140,415	)		(2,349,732	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(1,530,566	)		(457,692	)
Net cash provided by (used in) operating activities		(1,580,129	)		(594,382	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		1,977			2,349,732
Net cash provided by (used in) investing activities		1,977			2,349,732
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,578,152	)		1,755,350
Cash and cash equivalents, beginning		2,096,039			340,689
Cash and cash equivalents, ending	$	517,887		$	2,096,039
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-85

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 38
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(46,425	)	$	3,212,273
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			(3,273,698	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		(6,543	)		1,764
Accounts payable - affiliates		(1,497,751	)		(504,647	)
Net cash provided by (used in) operating activities		(1,550,719	)		(564,308	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			3,273,698
Net cash provided by (used in) investing activities		-			3,273,698
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,550,719	)		2,709,390
Cash and cash equivalents, beginning		3,042,864			333,474
Cash and cash equivalents, ending	$	1,492,145		$	3,042,864
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-86

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 39
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(48,069	)	$	1,554,531
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(17,779	)		(1,645,989	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		(6,543	)		1,649
Accounts payable - affiliates		(1,154,240	)		(620,973	)
Net cash provided by (used in) operating activities		(1,226,631	)		(710,782	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		17,779			1,645,989
Net cash provided by (used in) investing activities		17,779			1,645,989
Cash flows from financing activities
Distributions		(40,046	)		-
Net cash used in financing activities		(40,046	)		-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,248,898	)		935,207
Cash and cash equivalents, beginning		1,248,898			313,691
Cash and cash equivalents, ending	$	-		$	1,248,898
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-87

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 40
	2018			2017
Cash flows from operating activities
Net income (loss)	$	454,012		$	(79,129	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(588,952	)		(93,700	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(5,000	)
Accounts payable - affiliates		(270,989	)		(178,258	)
Net cash provided by (used in) operating activities		(405,929	)		(356,087	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		588,952			93,700
Net cash provided by (used in) investing activities		588,952			93,700
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		183,023			(262,387	)
Cash and cash equivalents, beginning		248,318			510,705
Cash and cash equivalents, ending	$	431,341		$	248,318
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-88

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 41
	2018			2017
Cash flows from operating activities
Net income (loss)	$	814,281		$	(137,219	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(1,026,859	)		(70,500	)
Changes in assets and liabilities
Other assets		1,218			-
Accounts payable and accrued expenses		(4,500	)		4,500
Accounts payable - affiliates		(392,649	)		124,592
Net cash provided by (used in) operating activities		(608,509	)		(78,627	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		1,026,759			70,500
Net cash provided by (used in) investing activities		1,026,759			70,500
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		418,250			(8,127	)
Cash and cash equivalents, beginning		322,902			331,029
Cash and cash equivalents, ending	$	741,152		$	322,902
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-89

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 42
	2018			2017
Cash flows from operating activities
Net income (loss)	$	265,175		$	(199,189	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(427,305	)		-
Changes in assets and liabilities
Other assets		(1,183	)		-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		-			(2,141,040	)
Net cash provided by (used in) operating activities		(163,313	)		(2,340,229	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		(9,503	)		-
Proceeds from disposition of operating limited partnerships		427,305			-
Net cash provided by (used in) investing activities		417,802			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		254,489			(2,340,229	)
Cash and cash equivalents, beginning		1,072,528			3,412,757
Cash and cash equivalents, ending	$	1,327,017		$	1,072,528
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	63,676		$	-

(continued)

F-90

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 43
	2018			2017
Cash flows from operating activities
Net income (loss)	$	349,598		$	(246,031	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(566,806	)		-
Changes in assets and liabilities
Other assets		18,839			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		143,797			(2,289,322	)
Net cash provided by (used in) operating activities		(54,572	)		(2,535,353	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		(9,508	)		-
Proceeds from disposition of operating limited partnerships		566,806			-
Net cash provided by (used in) investing activities		557,298			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		502,726			(2,535,353	)
Cash and cash equivalents, beginning		351,638			2,886,991
Cash and cash equivalents, ending	$	854,364		$	351,638
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	63,675		$	-

(continued)

F-91

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 44
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(227,804	)	$	(231,517	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		245,486			253,338
Net cash provided by (used in) operating activities		17,682			21,821
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		17,682			21,821
Cash and cash equivalents, beginning		66,324			44,503
Cash and cash equivalents, ending	$	84,006		$	66,324
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-92

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 45
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(276,116	)	$	(244,274	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		226,665			299,327
Net cash provided by (used in) operating activities		(49,451	)		55,053
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(49,451	)		55,053
Cash and cash equivalents, beginning		803,153			748,100
Cash and cash equivalents, ending	$	753,702		$	803,153
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-93

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 46
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(169,749	)	$	171,768
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(10,994	)		(393,183	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(14,981	)		236,084
Net cash provided by (used in) operating activities		(195,724	)		14,669
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		10,994			393,183
Net cash provided by (used in) investing activities		10,994			393,183
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(184,730	)		407,852
Cash and cash equivalents, beginning		651,129			243,277
Cash and cash equivalents, ending	$	466,399		$	651,129
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(see notes to financial statements)

F-94

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS

March 31, 2018 and 2017

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Boston Capital Tax Credit Fund IV L.P. (the Partnership or Fund) was organized under the laws of the State of Delaware as of October 5, 1993, for the purpose of acquiring, holding, and disposing of limited partnership interests in operating limited partnerships which acquire, develop, rehabilitate, operate and own newly-constructed, existing or rehabilitated apartment complexes which qualify for the Low-Income Housing Tax Credit established by the Tax Reform Act of 1986. Accordingly, the apartment complexes are restricted as to rent charges and operating methods. Certain of the apartment complexes may also qualify for the Historic Rehabilitation Tax Credit for their rehabilitation of certified historic structures and are subject to the provisions of the Internal Revenue Code relating to the Rehabilitation Investment Credit. The general partner of the fund is Boston Capital Associates IV L.P. and the limited partner is BCTC IV Assignor Corp. (the assignor limited partner).

In accordance with the limited partnership agreement, profits, losses, and cash flow (subject to certain priority allocations and distributions) and tax credits are allocated 99% to the assignees and 1% to the general partner.

Pursuant to the Securities Act of 1933, the fund filed a Form S-11 Registration Statement with the Securities and Exchange Commission, effective December 16, 1993, which covered the offering (the Public Offering) of the beneficial assignee certificates (BACs) representing assignments of units of the beneficial interest of the limited partnership interest of the assignor limited partner. The fund has registered 101,500,000 BACs at $10 per BAC for sale to the public in one or more series. BACs sold in bulk are offered to investors at a reduced cost per BAC.

F-95

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

The BACs issued and outstanding in each series as of March 31, 2018 and 2017 are as follows:

	Issued				Outstanding
	2018		2017		2018		2017
Series 20		3,866,700		3,866,700		3,829,200		3,833,200
Series 21		1,892,700		1,892,700		1,879,500		1,879,500
Series 22		2,564,400		2,564,400		2,550,645		2,557,045
Series 23		3,336,727		3,336,727		3,303,327		3,314,827
Series 24		2,169,878		2,169,878		2,152,753		2,154,253
Series 25		3,026,109		3,026,109		3,016,809		3,016,809
Series 26		3,995,900		3,995,900		3,965,400		3,977,000
Series 27		2,460,700		2,460,700		2,443,900		2,446,400
Series 28		4,000,738		4,000,738		3,984,138		3,990,738
Series 29		3,991,800		3,991,800		3,955,225		3,965,300
Series 30		2,651,000		2,651,000		2,621,200		2,631,000
Series 31		4,417,857		4,417,857		4,382,757		4,395,557
Series 32		4,754,198		4,754,198		4,736,198		4,740,198
Series 33		2,636,533		2,636,533		2,626,533		2,626,533
Series 34		3,529,319		3,529,319		3,509,919		3,517,419
Series 35		3,300,463		3,300,463		3,279,913		3,288,363
Series 36		2,106,838		2,106,838		2,092,704		2,095,704
Series 37		2,512,500		2,512,500		2,489,100		2,495,600
Series 38		2,543,100		2,543,100		2,538,700		2,540,100
Series 39		2,292,151		2,292,151		2,288,351		2,288,351
Series 40		2,630,256		2,630,256		2,621,756		2,622,756
Series 41		2,891,626		2,891,626		2,874,926		2,884,126
Series 42		2,744,262		2,744,262		2,732,262		2,736,262
Series 43		3,637,987		3,637,987		3,629,487		3,632,487
Series 44		2,701,973		2,701,973		2,693,973		2,699,473
Series 45		4,014,367		4,014,367		4,008,167		4,009,667
Series 46		2,980,998		2,980,998		2,968,635		2,971,998
		83,651,080		83,651,080		83,175,478		83,310,666

F-96

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Investments in Operating Limited Partnerships

The Fund accounts for its investments in operating limited partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each operating limited partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes the individual operating limited partnership’s losses only to the extent that the Fund’s share of losses from the operating limited partnerships does not exceed the carrying amount of its investment and its advances to operating limited partnerships. Unrecognized losses are suspended and offset against future individual operating limited partnership income.

After the investment account is reduced to zero, receivables due from the operating limited partnerships are decreased by the partnership’s share of losses and, accordingly, a valuation allowance is recorded against the receivables. Accordingly, the Fund recorded a valuation allowance of $401,577 and $401,660 as of March 31, 2018 and 2017, respectively.

The Fund reviews its investment in operating limited partnerships for impairment whenever events or changes in circumstances indicate that the carrying amount of such investments may not be recoverable. Recoverability is measured by a comparison of the carrying amount of the investment to the sum of the total amount of the remaining tax credits and the estimated residual value of the investment. The Fund also evaluates its intangibles for impairment in connection with its investments in operating limited partnerships. No impairment losses have been recognized for the years ended March 31, 2018 and 2017.

Capital contributions to operating limited partnerships are adjusted by tax credit adjusters. Tax credit adjusters are defined as adjustments to operating limited partnership capital contributions due to reductions in actual tax credits from those originally projected. The Fund records tax credit adjusters as a reduction in investments in operating limited partnerships and capital contributions payable.

The operating limited partnerships maintain their financial statements based on a calendar year and the fund utilizes a March 31 year end. The Fund records losses and income from the operating limited partnerships on a calendar year basis which is not materially different from losses and income generated if the operating limited partnerships utilized a March 31 year end.

The Fund records capital contributions payable to the operating limited partnerships once there is a binding obligation to fund a specified amount. The operating limited partnerships record capital contributions from the fund when received.

F-97

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Investments in Operating Limited Partnerships (Continued)

Prior to January 1, 1999, the Fund recorded acquisition costs as an increase in its investments in operating limited partnerships. These costs were amortized by the operating limited partnerships over 27.5 years on the straight-line method. Certain operating limited partnerships have not recorded the acquisition costs as a capital contribution from the fund. These differences are shown as reconciling items in note C. As of January 1, 1999, the Fund records acquisition costs incurred after January 1, 1999 as deferred acquisition costs. These costs are amortized on the straight-line method.

In accordance with the accounting guidance for the consolidation of variable interest entities, the Fund determines when it should include the assets, liabilities, and activities of a variable interest entity (VIE) in its financial statements, and when it should disclose information about its relationship with a VIE. A VIE is a legal structure used to conduct activities or hold assets, which must be consolidated by a company if it is the primary beneficiary because it has (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (2) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. If multiple unrelated parties share such power, as defined, no party is required to consolidate the VIE.

The Fund determines whether an entity is a VIE and whether it is the primary beneficiary at the date of initial involvement with the entity. The Fund reassesses whether it is the primary beneficiary of a VIE on an ongoing basis based on changes in facts and circumstances. In determining whether it is the primary beneficiary, the Partnership considers the purpose and activities of the VIE, including the variability and related risks the VIE incurs and transfers to other entities and their related parties. These factors are considered in determining whether the Fund has the power to direct activities of the VIE that most significantly impact the VIE’s economic performance and whether the Fund also has the obligation to absorb losses of or receive benefits from the VIE that could be potentially significant to the VIE. If the Fund determines that it is the primary beneficiary of the VIE, the VIE is consolidated within the Partnership’s financial statements.

F-98

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Investments in Operating Limited Partnerships (Continued)

Based on this guidance, the operating limited partnerships in which the Fund invests meet the definition of a VIE. However, management does not consolidate the Fund’s interests in these VIEs under this guidance, as it is not considered to be the primary beneficiary. The Fund currently records the amount of its investment in these operating limited partnerships as an asset on its balance sheets, recognizes its share of the operating limited partnership income or losses in the statements of operations, and discloses how it accounts for material types of these investments in its financial statements. The Fund’s balance in investment in operating limited partnerships, advances to operating limited partnerships, plus the risk of recapture of tax credits previously recognized on these investments, represents its maximum exposure to loss. The Fund’s exposure to loss on these operating limited partnerships is mitigated by the condition and financial performance of the underlying properties as well as the strength of the operating limited partnerships' general partners and their guarantee against credit recapture.

F-99

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Income Taxes

The Fund has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The funds’s federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Fund has no other tax positions which must be considered for disclosure. Income tax returns filed by the Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2014 remain open.

Cash and Cash Equivalents

Cash equivalents include money market accounts having original maturities at date of acquisition of three months or less. The carrying value approximates fair value because of the short maturity of these instruments.

Fiscal Year

For financial reporting purposes, the fund uses a March 31 year end, whereas for income tax reporting purposes, the fund uses a calendar year. The operating limited partnerships use a calendar year for both financial and income tax reporting.

F-100

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Net Loss Per Beneficial Assignee Certificate Unit

Net loss per beneficial assignee certificate unit is calculated based upon the weighted average number of units outstanding during the year or period. The weighted average number of units in each series at March 31, 2018 and 2017 are as follows:

	2018		2017
Series 20		3,832,200		3,840,925
Series 21		1,879,500		1,880,625
Series 22		2,555,445		2,559,111
Series 23		3,311,952		3,321,202
Series 24		2,153,878		2,157,722
Series 25		3,016,809		3,019,434
Series 26		3,974,100		3,981,950
Series 27		2,445,775		2,451,725
Series 28		3,989,088		3,993,363
Series 29		3,962,781		3,976,625
Series 30		2,628,550		2,634,750
Series 31		4,392,357		4,396,307
Series 32		4,739,198		4,740,573
Series 33		2,626,533		2,627,658
Series 34		3,515,544		3,521,619
Series 35		3,286,251		3,292,413
Series 36		2,094,954		2,097,579
Series 37		2,493,975		2,504,525
Series 38		2,539,750		2,540,100
Series 39		2,288,351		2,289,701
Series 40		2,622,506		2,623,506
Series 41		2,881,826		2,889,751
Series 42		2,735,262		2,736,262
Series 43		3,631,737		3,636,612
Series 44		2,698,098		2,699,848
Series 45		4,009,292		4,013,192
Series 46		2,971,157		2,971,998
		83,276,869		83,399,076

F-101

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

F-102

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE B - RELATED PARTY TRANSACTIONS

During the years ended March 31, 2018 and 2017, the Fund entered into several transactions with various affiliates of the general partner, including Boston Capital Partners, Inc. (BCP), Boston Capital Services, Inc. (BCS), Boston Capital Holdings Limited Partnership (BCHLP) and Boston Capital Asset Management Limited Partnership (BCAM), as follows:

The Fund incurred a fund management fee to Boston Capital Asset Management Limited Partnership in an amount equal to .5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of various asset management and reporting fees paid by the Operating Partnerships. The fund management fees net of reporting fees incurred and the reporting fees paid by the Operating Partnerships for the years ended March 31, 2018 and 2017, are as follows:

			2018
	Gross Fund Management Fee		Asset Management and Reporting Fee		Fund Management Fee net of Asset Management and Reporting Fee
Series 20	$	19,821	$	2,617	$	17,204
Series 21		7,654		2,051		5,603
Series 22		29,212		1,100		28,112
Series 23		22,224		1,750		20,474
Series 24		50,352		4,669		45,683
Series 25		11,374		1,692		9,682
Series 26		76,308		3,841		72,467
Series 27		41,073		10,760		30,313
Series 28		35,376		2,000		33,376
Series 29		80,369		19,387		60,982
Series 30		54,481		50,954		3,527
Series 31		81,582		1,500		80,082
Series 32		99,208		19,500		79,708
Series 33		63,077		32,340		30,737
Series 34		49,462		6,200		43,262
Series 35		56,268		8,859		47,409
Series 36		30,504		1,910		28,594
Series 37		46,143		8,018		38,125
Series 38		72,936		10,700		62,236
Series 39		5,130		-		5,130
Series 40		111,663		11,475		100,188
Series 41		197,680		13,663		184,017
Series 42		158,605		23,102		135,503
Series 43		219,297		24,795		194,502
Series 44		231,301		28,120		203,181
Series 45		281,324		28,996		252,328
Series 46		209,196		26,666		182,530
	$	2,341,620	$	346,665	$	1,994,955

F-103

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

			2017
	Gross Fund Management Fee		Asset Management and Reporting Fee		Fund Management Fee net of Asset Management and Reporting Fee
Series 20	$	24,843	$	1,367	$	23,476
Series 21		10,872		2,051		8,821
Series 22		29,208		1,100		28,108
Series 23		37,362		5,080		32,282
Series 24		50,352		10,067		40,285
Series 25		23,736		7,360		16,376
Series 26		93,076		5,341		87,735
Series 27		116,442		16,630		99,812
Series 28		44,679		23,000		21,679
Series 29		82,187		7,655		74,532
Series 30		69,684		10,216		59,468
Series 31		134,262		13,000		121,262
Series 32		163,266		18,460		144,806
Series 33		65,592		8,670		56,922
Series 34		70,741		29,315		41,426
Series 35		93,350		49,903		43,447
Series 36		46,580		41,910		4,670
Series 37		117,308		10,518		106,790
Series 38		130,774		27,354		103,420
Series 39		56,801		4,200		52,601
Series 40		137,464		11,425		126,039
Series 41		224,592		27,952		196,640
Series 42		171,480		19,180		152,300
Series 43		230,772		40,748		190,024
Series 44		239,076		32,904		206,172
Series 45		282,759		59,598		223,161
Series 46		236,084		28,475		207,609
	$	2,983,342	$	513,479	$	2,469,863

All fund management fees will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the partnership's interests in operating limited partnerships. As of March 31, 2018 and 2017, total fund management fees accrued were $29,275,035 and $39,156,659, respectively.

F-104

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

The fund management fees paid for the years ended March 31, 2018 and 2017, are as follows:

	2018		2017
Series 20	$	42,000	$	-
Series 21		258,000		150,000
Series 22		-		-
Series 23		1,178,511		-
Series 24		50,352		50,352
Series 25		11,374		23,736
Series 26		76,308		93,076
Series 27		41,073		116,442
Series 28		35,376		44,679
Series 29		-		181,500
Series 30		75,500		-
Series 31		81,582		134,262
Series 32		1,946,803		756,790
Series 33		950		900,000
Series 34		430,691		319,000
Series 35		608,250		2,035,603
Series 36		798,009		571,611
Series 37		1,576,709		575,000
Series 38		1,570,687		635,421
Series 39		938,915		677,774
Series 40		382,652		315,722
Series 41		590,329		100,000
Series 42		158,605		2,312,520
Series 43		75,500		2,520,094
Series 44		-		-
Series 45		-		-
Series 46		224,177		-
	$	11,152,353	$	12,513,582

F-105

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

An affiliate of the general partner of the Fund has advanced funds to pay some operating expenses of the fund, and to make advances and/or loans to operating limited partnerships. These advances are included in accounts payable to affiliates. The total advances as of March 31, 2018 and 2017, are as follows:

	2018		2017
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		-		-
Series 30		-		-
Series 31		-		-
Series 32		-		-
Series 33		-		-
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		-
Series 38		-		-
Series 39		-		220,455
Series 40		-		-
Series 41		-		-
Series 42		-		-
Series 43		-		-
Series 44		220,238		206,053
Series 45		-		54,659
Series 46		-		-
	$	220,238	$	481,167

During the year ended March 31, 2018, $14,185 for Series 44 was advanced to the Fund by an affiliate of the general partner. In addition $220,455 for Series 39 and $54,659 for Series 45 was paid by the Fund to an affiliate of the general partner. During the year ended March 31, 2017, $14,262 and $16,568 for Series 44 and Series 45, respectively, was advanced to the Fund by an affiliate of the general partner. In addition $133,578 for Series 34 was paid by the Fund to an affiliate of the general partner. All payables to affiliates will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the Fund's interests in Operating Partnerships.

F-106

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

During the years ended March 31, 2018 and 2017, general and administrative expenses incurred by Boston Capital Partners, Inc., Boston Capital Holdings Limited Partnership and/or Boston Capital Asset Management Limited Partnership were charged to each series’ operations as follows:

	2018		2017
Series 20	$	15,347	$	16,622
Series 21		39,308		13,370
Series 22		13,968		14,832
Series 23		14,966		16,444
Series 24		14,181		14,350
Series 25		44,888		15,309
Series 26		16,807		18,547
Series 27		13,862		40,226
Series 28		15,689		16,420
Series 29		16,149		17,578
Series 30		14,096		14,993
Series 31		16,187		18,151
Series 32		16,115		17,965
Series 33		13,619		14,218
Series 34		14,572		15,394
Series 35		14,339		15,420
Series 36		13,109		13,183
Series 37		12,950		13,591
Series 38		13,673		14,212
Series 39		41,394		13,065
Series 40		14,322		15,081
Series 41		15,980		16,909
Series 42		15,406		16,382
Series 43		16,806		18,397
Series 44		14,185		14,621
Series 45		19,556		20,809
Series 46		15,665		16,678
	$	487,139	$	452,767

Accounts payable - affiliates at March 31, 2018 and 2017 represents general and administrative expenses, fund management fees, and commissions which are payable to Boston Capital Partners, Inc., Boston Capital Holdings Limited Partnership, Boston Capital Services, Inc., and Boston Capital Asset Management Limited Partnership.

F-107

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS

At March 31, 2018 and 2017, the fund has limited partnership interests in operating limited partnerships, which own or are constructing or rehabilitating operating apartment complexes. The number of operating limited partnerships in which the fund has limited partnership interests at March 31, 2018 and 2017 by series are as follows:

	2018		2017
Series 20		2		3
Series 21		-		2
Series 22		3		3
Series 23		3		4
Series 24		5		6
Series 25		-		4
Series 26		9		13
Series 27		3		5
Series 28		5		5
Series 29		7		8
Series 30		5		8
Series 31		8		10
Series 32		6		7
Series 33		3		5
Series 34		4		4
Series 35		2		3
Series 36		3		3
Series 37		1		2
Series 38		4		4
Series 39		-		1
Series 40		9		10
Series 41		12		17
Series 42		11		15
Series 43		17		19
Series 44		7		7
Series 45		26		27
Series 46		14		14
		169		209

F-108

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

During the year ended March 31, 2018 the Fund disposed of forty Operating Partnerships. Gain on disposition is included in share of income (losses) from operating limited partnerships. A summary of the dispositions by Series for March 31, 2018 is as follows.

	Operating Partnership Interest Transferred		Sale of Underlying Operating Partnership		Partnership Proceeds from Disposition *		Gain on Disposition
Series 20		-		1	$	42,000	$	42,000
Series 21		-		2		67,000		67,000
Series 23		1		-		989,962		989,962
Series 24		1		-		95,000		95,000
Series 25		-		4		97,399		97,399
Series 26		-		4		80,000		80,000
Series 27		1		1		3,291,567		3,291,567
Series 29		1		-		296,608		303,958
Series 30		1		2		236,521		276,484
Series 31		-		2		45,000		45,000
Series 32		1		-		1,677,252		1,677,252
Series 33		1		1		107,890		177,044
Series 35		-		1		2,653,528		2,653,528
Series 37		-		1		1,977		140,415
Series 39		-		1		17,779		17,779
Series 40		-		1		588,952		588,952
Series 41		1		4		1,026,759		1,026,859
Series 42		1		3		427,305		427,305
Series 43		-		2		566,806		566,806
Series 45		1		-		-		-
Series 46		-		-		10,994		10,994
Total		10		30	$	12,320,299	$	12,575,304

* Partnership proceeds from disposition does not include $7,350, $39,963, $69,154, $138,438 and $100 which was due to a writeoff of capital contribution payable as of March 31, 2018, for Series 29, Series 30, Series 33, Series 37 and Series 41, respectively.

During the year ended March 31, 2017 the Fund disposed of forty nine Operating Partnerships. Gain on disposition is included in share of income (losses) from operating limited partnerships. A summary of the dispositions by Series for March 31, 2017 is as follows.

	Operating Partnership Interest Transferred		Sale of Underlying Operating Partnership		Partnership Proceeds from Disposition *		Gain on Disposition
Series 20		-		1	$	138,000	$	138,000
Series 23		2		-		488,550		488,550
Series 26		1		-		18,500		18,500
Series 27		1		1		3,016,000		3,016,000
Series 28		1		-		5,000		5,000
Series 31		7		-		877,411		877,411
Series 32		2		1		569,552		569,552
Series 34		3		-		630,691		630,691
Series 35		1		2		2,720,765		2,720,765
Series 36		3		1		2,515,373		2,515,373
Series 37		3		1		2,349,732		2,349,732
Series 38		1		3		3,273,698		3,273,698
Series 39		4		2		1,645,989		1,645,989
Series 40		4		-		93,700		93,700
Series 41		1		-		70,500		70,500
Series 44		-		1		-		-
Series 45		1		-		-		-
Series 46		-		1		393,183		393,183
Total		35		14	$	18,806,644	$	18,806,644

F-109

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

Under the terms of the Fund’s investment in each operating limited partnership, the Fund is required to make capital contributions to the operating limited partnerships. These contributions are payable in installments over several years upon each operating limited partnership achieving specified levels of construction or operations. At March 31, 2018 and 2017, contributions are payable to operating limited partnerships as follows:

	2018		2017
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		885		8,235
Series 30		65,176		105,139
Series 31		66,294		66,294
Series 32		1,229		1,229
Series 33		-		69,154
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		138,438
Series 38		-		-
Series 39		-		-
Series 40		102		102
Series 41		-		100
Series 42		254		73,433
Series 43		26,082		99,265
Series 44		-		-
Series 45		16,724		16,724
Series 46		-		-
	$	176,746	$	578,113

F-110

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Total			Series 20			Series 21
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	184,987,233		$	801,709		$	-
Acquisition costs of operating limited partnerships		6,519,915			113,727			-
Cumulative distributions from operating limited partnerships		(1,524,276	)		-			-
Cumulative impairment loss in investments in operating limited partnerships		(101,705,964	)		(337,192	)		-
Cumulative losses from operating limited partnerships		(88,276,908	)		(578,244	)		-
Investments in operating limited partnerships per balance sheet		-			-			-

F-111

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Total			Series 20			Series 21
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(752,340	)		-			-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(1,014,542	)		-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		110,689			144			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(54,135,331	)		(346,427	)		-
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		298,325			-			-
Cumulative impairment loss in investments in operating limited partnerships		101,705,964			337,192			-
Other		(1,537,638	)		(3,038	)		-
Equity per operating limited partnerships’ combined financial statements	$	44,675,127		$	(12,129	)	$	-

F-112

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 22			Series 23			Series 24
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	755,045		$	652,559		$	2,609,877
Acquisition costs of operating limited partnerships		78,016			101,606			270,834
Cumulative distributions from operating limited partnerships		-			-			(21,752	)
Cumulative impairment loss in investments in operating limited partnerships		(325,787	)		(554,366	)		(1,018,072	)
Cumulative losses from operating limited partnerships		(507,274	)		(199,799	)		(1,840,887	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-113

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 22			Series 23			Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-			-			(30,158	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(39,009	)		(62,597	)		(91,548	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		7,927			(5,691	)		5,141
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(917,196	)		(278,856	)		(2,244,208	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			34,901			6,688
Cumulative impairment loss in investments in operating limited partnerships		325,787			554,366			1,018,072
Other		1,126			(4,235	)		125,715
Equity per operating limited partnerships’ combined financial statements	$	(621,365	)	$	237,888		$	(1,210,298	)

F-114

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 25		Series 26			Series 27
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	-	$	3,935,123		$	3,133,255
Acquisition costs of operating limited partnerships		-		594,449			387,469
Cumulative distributions from operating limited partnerships		-		(11,745	)		-
Cumulative impairment loss in investments in operating limited partnerships		-		(902,540	)		(2,626,423	)
Cumulative losses from operating limited partnerships		-		(3,615,287	)		(894,301	)
Investments in operating limited partnerships per balance sheet		-		-			-

F-115

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 25		Series 26			Series 27
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-		(51,000	)		-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		(38,119	)		(222,527	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		28,901			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		-		(3,965,540	)		(925,221	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		171,816			-
Cumulative impairment loss in investments in operating limited partnerships		-		902,540			2,626,423
Other		-		(88,729	)		(105,509	)
Equity per operating limited partnerships’ combined financial statements	$	-	$	(3,040,131	)	$	1,373,166

F-116

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 28			Series 29			Series 30
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	2,736,848		$	6,015,021		$	3,419,639
Acquisition costs of operating limited partnerships		388,894			869,863			370,248
Cumulative distributions from operating limited partnerships		(5,079	)		(14,324	)		(22,837	)
Cumulative impairment loss in investments in operating limited partnerships		(973,150	)		(2,645,150	)		(1,571,164	)
Cumulative losses from operating limited partnerships		(2,147,513	)		(4,225,410	)		(2,195,886	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-117

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 28			Series 29			Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(12,030	)		-			(71,585	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(62,189	)		(132,403	)		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		33,990			39,537			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,012,890	)		(2,943,963	)		(1,447,713	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			(316	)		1,092
Cumulative impairment loss in investments in operating limited partnerships		973,150			2,645,150			1,571,164
Other		(47,411	)		(33,985	)		(12,117	)
Equity per operating limited partnerships’ combined financial statements	$	(1,127,380	)	$	(425,980	)	$	40,841

F-118

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 31			Series 32			Series 33
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	5,325,826		$	12,481,943		$	6,465,137
Acquisition costs of operating limited partnerships		744,060			1,405,649			783,763
Cumulative distributions from operating limited partnerships		(29,962	)		(44,114	)		(3,170	)
Cumulative impairment loss in investments in operating limited partnerships		(3,106,050	)		(8,016,312	)		(5,228,587	)
Cumulative losses from operating limited partnerships		(2,933,874	)		(5,827,166	)		(2,017,143	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-119

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 31			Series 32			Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(47,462	)		(160,172	)		(81,443	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(77,600	)		-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		740			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,336,809	)		(3,691,664	)		(1,423,036	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			29,991			-
Cumulative impairment loss in investments in operating limited partnerships		3,106,050			8,016,312			5,228,587
Other		(44,918	)		225,300			(18,341	)
Equity per operating limited partnerships’ combined financial statements	$	(399,999	)	$	4,419,767		$	3,705,767

F-120

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 34			Series 35			Series 36
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,257,458		$	2,705,747		$	4,276,900
Acquisition costs of operating limited partnerships		411,337			-			-
Cumulative distributions from operating limited partnerships		(20,308	)		-			(27,291	)
Cumulative impairment loss in investments in operating limited partnerships		(3,951,725	)		(754,520	)		(2,406,542	)
Cumulative losses from operating limited partnerships		(2,696,762	)		(1,951,227	)		(1,843,067	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-121

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 34			Series 35			Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-			-			-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(288,550	)		-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,445,856	)		(2,119,964	)		(1,076,427	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			3,300			-
Cumulative impairment loss in investments in operating limited partnerships		3,951,725			754,520			2,406,542
Other		(143,671	)		5			(37,008	)
Equity per operating limited partnerships’ combined financial statements	$	2,073,648		$	(1,362,139	)	$	1,293,107

F-122

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 37			Series 38			Series 39
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,003,938		$	9,815,140		$	-
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(65,908	)		(359,635	)		-
Cumulative impairment loss in investments in operating limited partnerships		(3,023,930	)		(7,249,126	)		-
Cumulative losses from operating limited partnerships		(2,914,100	)		(2,206,379	)		-
Investments in operating limited partnerships per balance sheet		-			-			-

F-123

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 37			Series 38			Series 39
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-			-			-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,295,610	)		(890,820	)		-
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			-			-
Cumulative impairment loss in investments in operating limited partnerships		3,023,930			7,249,126			-
Other		(65,834	)		(269,977	)		-
Equity per operating limited partnerships’ combined financial statements	$	1,662,486		$	6,088,329		$	-

F-124

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 40			Series 41			Series 42
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	10,870,415		$	9,423,231		$	9,955,057
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(22,466	)		(28,546	)		(13,231	)
Cumulative impairment loss in investments in operating limited partnerships		(5,308,127	)		(3,548,252	)		(4,092,870	)
Cumulative losses from operating limited partnerships		(5,539,822	)		(5,846,433	)		(5,848,956	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-125

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 40			Series 41			Series 42
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(16,841	)		(33,807	)		(76,678	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,760,624	)		(3,298,857	)		(3,931,656	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		22,950			-			-
Cumulative impairment loss in investments in operating limited partnerships		5,308,127			3,548,252			4,092,870
Other		(74,329	)		(386,974	)		(45,152	)
Equity per operating limited partnerships’ combined financial statements	$	2,479,283		$	(171,386	)	$	39,384

F-126

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 43			Series 44			Series 45
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	18,263,440		$	13,739,925		$	25,399,407
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(264,057	)		(49,115	)		(320,357	)
Cumulative impairment loss in investments in operating limited partnerships		(8,893,106	)		(5,557,696	)		(16,583,879	)
Cumulative losses from operating limited partnerships		(9,106,277	)		(8,133,114	)		(8,495,171	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-127

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 43			Series 44			Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(34,350	)		-			(129,725	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(4,470,306	)		(4,653,305	)		(3,073,662	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			-			23,309
Cumulative impairment loss in investments in operating limited partnerships		8,893,106			5,557,696			16,583,879
Other		(91,726	)		(119,646	)		(219,562	)
Equity per operating limited partnerships’ combined financial statements	$	4,296,724		$	784,745		$	13,184,239

F-128

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 46
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	19,944,593
Acquisition costs of operating limited partnerships		-
Cumulative distributions from operating limited partnerships		(200,379	)
Cumulative impairment loss in investments in operating limited partnerships		(13,031,398	)
Cumulative losses from operating limited partnerships		(6,712,816	)
Investments in operating limited partnerships per balance sheet		-

F-129

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(7,089	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,584,721	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		4,594
Cumulative impairment loss in investments in operating limited partnerships		13,031,398
Other		(77,622	)
Equity per operating limited partnerships’ combined financial statements	$	11,366,560

F-130

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Total			Series 20			Series 21
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	226,703,371		$	1,140,993		$	524,510
Acquisition costs of operating limited partnerships		9,097,175			162,528			85,843
Cumulative distributions from operating limited partnerships		(1,675,040	)		-			(22,441	)
Cumulative impairment loss in investments in operating limited partnerships		(122,872,037	)		(337,192	)		(38,116	)
Cumulative losses from operating limited partnerships		(111,253,469	)		(966,329	)		(549,796	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-131

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Total			Series 20			Series 21
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(1,145,457	)		-			-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(1,902,879	)		-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		183,255			7,136			15,685
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(57,696,047	)		(1,066,850	)		(325,745	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		357,746			-			-
Cumulative impairment loss in investments in operating limited partnerships		122,872,037			337,192			38,116
Other		(1,455,539	)		(2,935	)		(43,375	)
Equity per operating limited partnerships’ combined financial statements	$	61,213,116		$	(725,457	)	$	(315,319	)

F-132

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 22			Series 23			Series 24
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	755,045		$	3,303,139		$	2,879,744
Acquisition costs of operating limited partnerships		78,016			482,854			310,375
Cumulative distributions from operating limited partnerships		-			-			(34,932	)
Cumulative impairment loss in investments in operating limited partnerships		(325,787	)		(2,213,351	)		(1,151,381	)
Cumulative losses from operating limited partnerships		(507,274	)		(1,572,642	)		(2,003,806	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-133

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 22			Series 23			Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-			-			(30,158	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(39,009	)		(62,597	)		(91,548	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		7,927			(5,691	)		841
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(856,165	)		(970,072	)		(2,267,378	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			34,901			6,688
Cumulative impairment loss in investments in operating limited partnerships		325,787			2,213,351			1,151,381
Other		1,125			(97,940	)		107,836
Equity per operating limited partnerships’ combined financial statements	$	(560,335	)	$	1,111,952		$	(1,122,338	)

F-134

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 25			Series 26			Series 27
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	1,438,868		$	5,164,819		$	5,994,660
Acquisition costs of operating limited partnerships		167,460			772,454			813,797
Cumulative distributions from operating limited partnerships		(57,503	)		(30,449	)		(1,096	)
Cumulative impairment loss in investments in operating limited partnerships		(1,430,062	)		(1,350,275	)		(3,487,976	)
Cumulative losses from operating limited partnerships		(118,763	)		(4,556,549	)		(3,319,385	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-135

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 25			Series 26			Series 27
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-			(51,000	)		-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			(59,837	)		(222,527	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		31,239			45,732			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(456,606	)		(4,815,872	)		(1,317,831	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			171,816			-
Cumulative impairment loss in investments in operating limited partnerships		1,430,062			1,350,275			3,487,976
Other		(78,352	)		(94,916	)		(84,291	)
Equity per operating limited partnerships’ combined financial statements	$	926,343		$	(3,453,802	)	$	1,863,327

F-136

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 28			Series 29			Series 30
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	2,736,848		$	9,231,659		$	5,493,284
Acquisition costs of operating limited partnerships		388,894			1,333,588			667,262
Cumulative distributions from operating limited partnerships		(5,079	)		(14,324	)		(29,318	)
Cumulative impairment loss in investments in operating limited partnerships		(930,910	)		(5,444,545	)		(2,194,151	)
Cumulative losses from operating limited partnerships		(2,189,753	)		(5,106,378	)		(3,937,077	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-137

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 28			Series 29			Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(12,030	)		-			(112,197	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(62,189	)		(596,128	)		(235,701	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		33,990			39,537			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,819,446	)		(3,478,199	)		(2,083,473	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			7,039			1,092
Cumulative impairment loss in investments in operating limited partnerships		930,910			5,444,545			2,194,151
Other		(45,965	)		(30,529	)		(21,265	)
Equity per operating limited partnerships’ combined financial statements	$	(974,730	)	$	1,386,265		$	(257,393	)

F-138

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 31			Series 32			Series 33
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	5,898,003		$	14,149,131		$	8,367,365
Acquisition costs of operating limited partnerships		826,360			1,645,450			950,957
Cumulative distributions from operating limited partnerships		(31,355	)		(45,614	)		(3,170	)
Cumulative impairment loss in investments in operating limited partnerships		(3,574,025	)		(9,175,569	)		(6,568,884	)
Cumulative losses from operating limited partnerships		(3,118,983	)		(6,573,398	)		(2,746,268	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-139

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 31			Series 32			Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(47,462	)		(172,318	)		(179,468	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(77,600	)		-			(167,193	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		6,859			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,188,582	)		(3,395,101	)		(1,876,329	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			29,991			9,684
Cumulative impairment loss in investments in operating limited partnerships		3,574,025			9,175,569			6,568,884
Other		(50,995	)		251,165			(13,716	)
Equity per operating limited partnerships’ combined financial statements	$	216,245		$	5,889,306		$	4,341,862

F-140

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 34			Series 35			Series 36
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,257,458		$	5,386,247		$	4,276,900
Acquisition costs of operating limited partnerships		411,337			-			-
Cumulative distributions from operating limited partnerships		(20,308	)		(2,459	)		(27,291	)
Cumulative impairment loss in investments in operating limited partnerships		(3,951,725	)		(2,462,259	)		(2,406,542	)
Cumulative losses from operating limited partnerships		(2,696,762	)		(2,921,529	)		(1,843,067	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-141

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 34			Series 35			Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-			-			-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(288,550	)		-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,354,867	)		(2,237,121	)		(984,727	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			3,300			-
Cumulative impairment loss in investments in operating limited partnerships		3,951,725			2,462,259			2,406,542
Other		(139,920	)		2,467			(33,040	)
Equity per operating limited partnerships’ combined financial statements	$	2,168,388		$	230,905		$	1,388,775

F-142

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 37			Series 38			Series 39
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	7,549,550		$	9,815,140		$	671,150
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(65,908	)		(359,635	)		-
Cumulative impairment loss in investments in operating limited partnerships		(3,922,795	)		(7,194,962	)		(233,531	)
Cumulative losses from operating limited partnerships		(3,560,847	)		(2,260,543	)		(437,619	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-143

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 37			Series 38			Series 39
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(155,365	)		-			-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,916,369	)		(866,648	)		(97,796	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		13,201			-			-
Cumulative impairment loss in investments in operating limited partnerships		3,922,795			7,194,962			233,531
Other		(12,299	)		(233,707	)		(72,294	)
Equity per operating limited partnerships’ combined financial statements	$	1,851,963		$	6,094,607		$	63,441

F-144

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 40			Series 41			Series 42
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	11,579,898		$	15,436,181		$	16,067,004
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(22,466	)		(38,570	)		(20,956	)
Cumulative impairment loss in investments in operating limited partnerships		(5,441,719	)		(5,854,800	)		(7,195,970	)
Cumulative losses from operating limited partnerships		(6,115,713	)		(9,542,811	)		(8,850,078	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-145

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 40			Series 41			Series 42
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(16,841	)		(33,807	)		(76,678	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,230,853	)		(3,483,277	)		(4,285,267	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		32,119			-			20,012
Cumulative impairment loss in investments in operating limited partnerships		5,441,719			5,854,800			7,195,970
Other		(72,329	)		(325,495	)		(21,834	)
Equity per operating limited partnerships’ combined financial statements	$	3,153,815		$	2,012,221		$	2,832,203

F-146

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 43			Series 44			Series 45
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	23,300,481		$	13,739,925		$	25,600,776
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(271,984	)		(49,115	)		(320,688	)
Cumulative impairment loss in investments in operating limited partnerships		(11,001,252	)		(5,442,013	)		(16,541,124	)
Cumulative losses from operating limited partnerships		(12,027,245	)		(8,248,797	)		(8,738,964	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-147

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 43			Series 44			Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(121,319	)		-			(129,725	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(4,434,039	)		(4,416,600	)		(2,226,331	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			-			23,309
Cumulative impairment loss in investments in operating limited partnerships		11,001,252			5,442,013			16,541,124
Other		(50,452	)		(90,418	)		(164,622	)
Equity per operating limited partnerships’ combined financial statements	$	6,395,442		$	934,995		$	14,043,755

F-148

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 46
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	19,944,593
Acquisition costs of operating limited partnerships		-
Cumulative distributions from operating limited partnerships		(200,379	)
Cumulative impairment loss in investments in operating limited partnerships		(13,001,121	)
Cumulative losses from operating limited partnerships		(6,743,093	)
Investments in operating limited partnerships per balance sheet		-

F-149

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(7,089	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,244,503	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		4,594
Cumulative impairment loss in investments in operating limited partnerships		13,001,121
Other		(37,443	)
Equity per operating limited partnerships’ combined financial statements	$	11,716,680

F-150

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS

	Total			Series 20			Series 21
ASSETS
Buildings and improvements, net of accumulated depreciation	$	249,209,773		$	1,460,271		$	-
Land		27,147,517			121,238			-
Other assets		39,106,718			541,654			-
	$	315,464,008		$	2,123,163		$	-
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	234,642,083		$	1,827,138		$	-
Accounts payable and accrued expenses		12,444,674			82,131			-
Other liabilities		29,381,746			44,740			-
		276,468,503			1,954,009			-
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		44,675,127			(12,129	)		-
Other partners		(5,679,622	)		181,283			-
		38,995,505			169,154			-
	$	315,464,008		$	2,123,163		$	-

F-151

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 22			Series 23			Series 24
ASSETS
Buildings and improvements, net of accumulated depreciation	$	1,793,608		$	2,046,782		$	2,369,663
Land		426,603			389,075			527,938
Other assets		1,033,547			991,609			447,400
	$	3,253,758		$	3,427,466		$	3,345,001
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,791,955		$	3,088,788		$	4,032,540
Accounts payable and accrued expenses		112,473			99,536			132,642
Other liabilities		51,431			38,141			408,586
		3,955,859			3,226,465			4,573,768
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(621,365	)		237,888			(1,210,298	)
Other partners		(80,736	)		(36,887	)		(18,469	)
		(702,101	)		201,001			(1,228,767	)
	$	3,253,758		$	3,427,466		$	3,345,001

F-152

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 25		Series 26			Series 27
ASSETS
Buildings and improvements, net of accumulated depreciation	$	-	$	4,879,803		$	4,254,056
Land		-		462,610			410,981
Other assets		-		772,068			400,890
	$	-	$	6,114,481		$	5,065,927
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	-	$	6,904,332		$	2,409,239
Accounts payable and accrued expenses		-		1,486,077			235,966
Other liabilities		-		1,095,335			460,815
		-		9,485,744			3,106,020
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		-		(3,040,131	)		1,373,166
Other partners		-		(331,132	)		586,741
		-		(3,371,263	)		1,959,907
	$	-	$	6,114,481		$	5,065,927

F-153

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 28			Series 29			Series 30
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,755,398		$	6,106,858		$	4,315,605
Land		251,300			414,245			305,500
Other assets		482,629			1,056,737			671,879
	$	4,489,327		$	7,577,840		$	5,292,984
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	4,478,673		$	5,671,239		$	4,454,001
Accounts payable and accrued expenses		169,655			874,253			236,951
Other liabilities		1,115,613			1,747,302			413,484
		5,763,941			8,292,794			5,104,436
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(1,127,380	)		(425,980	)		40,841
Other partners		(147,234	)		(288,974	)		147,707
		(1,274,614	)		(714,954	)		188,548
	$	4,489,327		$	7,577,840		$	5,292,984

F-154

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 31			Series 32		Series 33
ASSETS
Buildings and improvements, net of accumulated depreciation	$	6,411,391		$	12,082,984	$	9,945,410
Land		679,013			1,039,323		1,048,536
Other assets		1,227,670			1,704,002		819,007
	$	8,318,074		$	14,826,309	$	11,812,953
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	8,155,638		$	6,305,907	$	5,038,209
Accounts payable and accrued expenses		562,436			1,134,284		94,290
Other liabilities		347,897			900,912		202,248
		9,065,971			8,341,103		5,334,747
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(399,999	)		4,419,767		3,705,767
Other partners		(347,898	)		2,065,439		2,772,439
		(747,897	)		6,485,206		6,478,206
	$	8,318,074		$	14,826,309	$	11,812,953

F-155

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 34			Series 35			Series 36
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,664,921		$	3,402,696		$	5,018,234
Land		230,576			424,178			655,300
Other assets		1,160,601			774,344			692,934
	$	6,056,098		$	4,601,218		$	6,366,468
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,222,586		$	3,914,272		$	3,390,303
Accounts payable and accrued expenses		236,580			105,814			642,979
Other liabilities		777,336			2,530,084			319,267
		4,236,502			6,550,170			4,352,549
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,073,648			(1,362,139	)		1,293,107
Other partners		(254,052	)		(586,813	)		720,812
		1,819,596			(1,948,952	)		2,013,919
	$	6,056,098		$	4,601,218		$	6,366,468

F-156

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 37			Series 38			Series 39
ASSETS
Buildings and improvements, net of accumulated depreciation	$	2,938,976		$	7,232,837		$	-
Land		300,500			670,346			-
Other assets		363,761			1,069,314			-
	$	3,603,237		$	8,972,497		$	-
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	2,226,066		$	4,372,730		$	-
Accounts payable and accrued expenses		113,657			110,235			-
Other liabilities		75,800			570,658			-
		2,415,523			5,053,623			-
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,662,486			6,088,329			-
Other partners		(474,772	)		(2,169,455	)		-
		1,187,714			3,918,874			-
	$	3,603,237		$	8,972,497		$	-

F-157

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 40		Series 41			Series 42
ASSETS
Buildings and improvements, net of accumulated depreciation	$	11,886,926	$	15,806,500		$	18,204,788
Land		533,804		2,809,784			4,017,885
Other assets		1,262,627		3,213,204			3,343,171
	$	13,683,357	$	21,829,488		$	25,565,844
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	8,860,117	$	20,947,647		$	22,140,649
Accounts payable and accrued expenses		950,497		949,825			2,232,722
Other liabilities		1,304,968		1,063,816			1,866,089
		11,115,582		22,961,288			26,239,460
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,479,283		(171,386	)		39,384
Other partners		88,492		(960,414	)		(713,000	)
		2,567,775		(1,131,800	)		(673,616	)
	$	13,683,357	$	21,829,488		$	25,565,844

F-158

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 43			Series 44			Series 45
ASSETS
Buildings and improvements, net of accumulated depreciation	$	24,334,517		$	30,064,552		$	36,333,189
Land		2,922,696			3,008,317			3,549,710
Other assets		3,682,350			3,564,066			6,347,963
	$	30,939,563		$	36,636,935		$	46,230,862
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	25,879,896		$	36,344,684		$	28,098,216
Accounts payable and accrued expenses		469,666			307,798			766,948
Other liabilities		3,952,081			4,931,290			2,521,398
		30,301,643			41,583,772			31,386,562
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		4,296,724			784,745			13,184,239
Other partners		(3,658,804	)		(5,731,582	)		1,660,061
		637,920			(4,946,837	)		14,844,300
	$	30,939,563		$	36,636,935		$	46,230,862

F-159

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 46
ASSETS
Buildings and improvements, net of accumulated depreciation	$	29,899,808
Land		1,948,059
Other assets		3,483,291
	$	35,331,158
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	19,087,258
Accounts payable and accrued expenses		337,259
Other liabilities		2,642,455
		22,066,972
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		11,366,560
Other partners		1,897,626
		13,264,186
	$	35,331,158

F-160

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS

	Total		Series 20			Series 21
ASSETS
Buildings and improvements, net of accumulated depreciation	$	394,212,193	$	2,085,075		$	1,489,227
Land		41,747,860		246,238			183,210
Other assets		49,639,300		582,694			366,699
	$	485,599,353	$	2,914,007		$	2,039,136
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	348,577,513	$	3,200,912		$	2,297,325
Accounts payable and accrued expenses		16,107,662		75,817			22,623
Other liabilities		40,891,893		50,451			40,020
		405,577,068		3,327,180			2,359,968
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		61,213,116		(725,457	)		(315,319	)
Other partners		18,809,169		312,284			(5,513	)
		80,022,285		(413,173	)		(320,832	)
	$	485,599,353	$	2,914,007		$	2,039,136

F-161

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 22			Series 23			Series 24
ASSETS
Buildings and improvements, net of accumulated depreciation	$	1,945,141		$	4,805,126		$	3,402,825
Land		426,603			522,075			636,838
Other assets		1,013,637			1,248,448			644,794
	$	3,385,381		$	6,575,649		$	4,684,457
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,834,362		$	4,961,827		$	5,238,205
Accounts payable and accrued expenses		88,761			157,317			118,124
Other liabilities		65,589			820,842			411,627
		3,988,712			5,939,986			5,767,956
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(560,335	)		1,111,952			(1,122,338	)
Other partners		(42,996	)		(476,289	)		38,839
		(603,331	)		635,663			(1,083,499	)
	$	3,385,381		$	6,575,649		$	4,684,457

F-162

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 25			Series 26			Series 27
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,013,338		$	7,274,962		$	12,049,493
Land		203,400			620,110			1,360,969
Other assets		919,878			1,105,294			1,862,638
	$	4,136,616		$	9,000,366		$	15,273,100
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,290,404		$	10,309,719		$	9,390,191
Accounts payable and accrued expenses		62,955			1,437,631			346,277
Other liabilities		31,649			1,110,272			2,149,189
		3,385,008			12,857,622			11,885,657
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		926,343			(3,453,802	)		1,863,327
Other partners		(174,735	)		(403,454	)		1,524,116
		751,608			(3,857,256	)		3,387,443
	$	4,136,616		$	9,000,366		$	15,273,100

F-163

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 28			Series 29		Series 30
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,949,712		$	9,381,511	$	6,657,707
Land		251,300			694,245		415,348
Other assets		445,890			2,959,653		831,281
	$	4,646,902		$	13,035,409	$	7,904,336
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	4,563,975		$	6,879,017	$	7,235,178
Accounts payable and accrued expenses		177,233			1,061,966		337,340
Other liabilities		1,022,213			3,393,759		699,680
		5,763,421			11,334,742		8,272,198
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(974,730	)		1,386,265		(257,393	)
Other partners		(141,789	)		314,402		(110,469	)
		(1,116,519	)		1,700,667		(367,862	)
	$	4,646,902		$	13,035,409	$	7,904,336

F-164

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 31			Series 32		Series 33
ASSETS
Buildings and improvements, net of accumulated depreciation	$	8,072,673		$	14,247,643	$	14,983,903
Land		725,013			1,185,852		1,328,537
Other assets		1,458,129			1,880,115		1,256,727
	$	10,255,815		$	17,313,610	$	17,569,167
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	9,530,208		$	7,147,321	$	6,828,064
Accounts payable and accrued expenses		534,648			1,213,357		623,125
Other liabilities		340,754			876,272		897,122
		10,405,610			9,236,950		8,348,311
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		216,245			5,889,306		4,341,862
Other partners		(366,040	)		2,187,354		4,878,994
		(149,795	)		8,076,660		9,220,856
	$	10,255,815		$	17,313,610	$	17,569,167

F-165

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 34			Series 35			Series 36
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,939,111		$	6,496,199		$	5,418,554
Land		230,576			671,988			655,300
Other assets		1,074,019			808,787			684,276
	$	6,243,706		$	7,976,974		$	6,758,130
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,273,740		$	5,448,834		$	3,488,113
Accounts payable and accrued expenses		222,965			179,364			676,964
Other liabilities		818,633			2,602,051			311,735
		4,315,338			8,230,249			4,476,812
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,168,388			230,905			1,388,775
Other partners		(240,020	)		(484,180	)		892,543
		1,928,368			(253,275	)		2,281,318
	$	6,243,706		$	7,976,974		$	6,758,130

F-166

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 37			Series 38			Series 39
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,913,034		$	7,584,676		$	704,469
Land		300,501			670,346			50,000
Other assets		379,600			989,351			36,912
	$	5,593,135		$	9,244,373		$	791,381
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	2,708,987		$	4,509,814		$	705,510
Accounts payable and accrued expenses		539,389			185,976			9,232
Other liabilities		599,151			544,697			23,287
		3,847,527			5,240,487			738,029
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,851,963			6,094,607			63,441
Other partners		(106,355	)		(2,090,721	)		(10,089	)
		1,745,608			4,003,886			53,352
	$	5,593,135		$	9,244,373		$	791,381

F-167

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 40		Series 41		Series 42
ASSETS
Buildings and improvements, net of accumulated depreciation	$	34,036,000	$	52,194,620	$	38,829,717
Land		3,816,175		7,423,381		5,877,411
Other assets		2,777,597		5,236,886		4,108,842
	$	40,629,772	$	64,854,887	$	48,815,970
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	32,191,614	$	53,514,163	$	34,987,875
Accounts payable and accrued expenses		1,056,318		1,675,342		2,490,974
Other liabilities		1,710,051		2,686,207		3,815,676
		34,957,983		57,875,712		41,294,525
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		3,153,815		2,012,221		2,832,203
Other partners		2,517,974		4,966,954		4,689,242
		5,671,789		6,979,175		7,521,445
	$	40,629,772	$	64,854,887	$	48,815,970

F-168

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 43		Series 44			Series 45
ASSETS
Buildings and improvements, net of accumulated depreciation	$	41,562,908	$	31,835,019		$	41,406,048
Land		4,306,232		3,008,317			3,989,836
Other assets		3,973,680		3,488,635			6,245,976
	$	49,842,820	$	38,331,971		$	51,641,860
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	36,674,057	$	36,988,184		$	29,953,961
Accounts payable and accrued expenses		1,350,023		318,124			815,588
Other liabilities		4,916,891		5,494,147			2,853,533
		42,940,971		42,800,455			33,623,082
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		6,395,442		934,995			14,043,755
Other partners		506,407		(5,403,479	)		3,975,023
		6,901,849		(4,468,484	)		18,018,778
	$	49,842,820	$	38,331,971		$	51,641,860

F-169

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 46
ASSETS
Buildings and improvements, net of accumulated depreciation	$	30,933,502
Land		1,948,059
Other assets		3,258,862
	$	36,140,423
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	19,425,953
Accounts payable and accrued expenses		330,229
Other liabilities		2,606,395
		22,362,577
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		11,716,680
Other partners		2,061,166
		13,777,846
	$	36,140,423

F-170

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Total			Series 20			Series 21
Revenue
Rent	$	59,398,750		$	701,243		$	-
Interest and other		2,081,320			34,131			-
		61,480,070			735,374			-
Expenses
Interest		9,976,398			40,916			-
Depreciation and amortization		15,520,004			190,051			-
Taxes and insurance		7,048,627			84,929			-
Repairs and maintenance		13,245,533			223,413			-
Operating expenses		20,924,826			280,254			-
Impairment loss		-			-			-
Other expenses		1,657,987			15,151			-
		68,373,375			834,714			-
NET INCOME (LOSS)	$	(6,893,305	)	$	(99,340	)	$	-
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(6,894,299	)	$	(41,124	)	$	-
Net income (loss) allocated to other partners	$	994		$	(58,216	)	$	-

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-171

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 22			Series 23			Series 24
Revenue
Rent	$	777,464		$	676,191		$	1,046,817
Interest and other		25,569			29,562			33,804
		803,033			705,753			1,080,621
Expenses
Interest		67,480			53,752			114,978
Depreciation and amortization		166,676			147,788			327,920
Taxes and insurance		109,531			114,432			105,929
Repairs and maintenance		246,890			195,543			312,137
Operating expenses		284,562			241,378			425,363
Impairment loss		-			-			-
Other expenses		26,664			23,314			11,000
		901,803			776,207			1,297,327
NET INCOME (LOSS)	$	(98,770	)	$	(70,454	)	$	(216,706	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(61,031	)	$	(36,752	)	$	(164,872	)
Net income (loss) allocated to other partners	$	(37,739	)	$	(33,702	)	$	(51,834	)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-172

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 25		Series 26			Series 27
Revenue
Rent	$	-	$	1,404,161		$	1,102,641
Interest and other		-		19,444			33,171
		-		1,423,605			1,135,812
Expenses
Interest		-		253,767			70,722
Depreciation and amortization		-		358,807			255,283
Taxes and insurance		-		199,939			155,332
Repairs and maintenance		-		352,166			264,890
Operating expenses		-		612,472			409,198
Impairment loss		-		-			-
Other expenses		-		15,500			3,738
		-		1,792,651			1,159,163
NET INCOME (LOSS)	$	-	$	(369,046	)	$	(23,351	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	-	$	(366,786	)	$	(122,997	)
Net income (loss) allocated to other partners	$	-	$	(2,260	)	$	99,646

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-173

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 28			Series 29			Series 30
Revenue
Rent	$	975,117		$	1,634,250		$	939,076
Interest and other		47,573			51,201			23,518
		1,022,690			1,685,451			962,594
Expenses
Interest		159,861			373,340			84,542
Depreciation and amortization		228,061			354,571			242,960
Taxes and insurance		128,754			222,567			121,506
Repairs and maintenance		210,652			369,821			208,871
Operating expenses		447,746			607,139			418,238
Impairment loss		-			-			-
Other expenses		-			22,800			35,405
		1,175,074			1,950,238			1,111,522
NET INCOME (LOSS)	$	(152,384	)	$	(264,787	)	$	(148,928	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(195,312	)	$	(282,525	)	$	(144,991	)
Net income (loss) allocated to other partners	$	42,928		$	17,738		$	(3,937	)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-174

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 31			Series 32			Series 33
Revenue
Rent	$	1,348,492		$	2,428,492		$	2,100,839
Interest and other		43,915			52,192			69,087
		1,392,407			2,480,684			2,169,926
Expenses
Interest		105,031			417,115			332,490
Depreciation and amortization		484,843			718,635			464,936
Taxes and insurance		235,144			307,332			245,656
Repairs and maintenance		271,520			585,210			471,398
Operating expenses		801,235			818,716			731,323
Impairment loss		-			-			-
Other expenses		6,100			280,402			109,922
		1,903,873			3,127,410			2,355,725
NET INCOME (LOSS)	$	(511,466	)	$	(646,726	)	$	(185,799	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(508,072	)	$	(529,903	)	$	(166,677	)
Net income (loss) allocated to other partners	$	(3,394	)	$	(116,823	)	$	(19,122	)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-175

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 34			Series 35			Series 36
Revenue
Rent	$	990,022		$	1,109,868		$	1,404,270
Interest and other		50,401			56,608			96,136
		1,040,423			1,166,476			1,500,406
Expenses
Interest		115,831			166,488			245,431
Depreciation and amortization		274,190			322,312			400,320
Taxes and insurance		142,435			125,565			207,765
Repairs and maintenance		271,381			146,852			240,660
Operating expenses		328,145			315,137			536,516
Impairment loss		-			-			-
Other expenses		-			20,000			33,240
		1,131,982			1,096,354			1,663,932
NET INCOME (LOSS)	$	(91,559	)	$	70,122		$	(163,526	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(131,700	)	$	(28,464	)	$	(105,544	)
Net income (loss) allocated to other partners	$	40,141		$	98,586		$	(57,982	)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-176

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 37			Series 38			Series 39
Revenue
Rent	$	926,321		$	1,815,067		$	-
Interest and other		94,968			32,993			-
		1,021,289			1,848,060			-
Expenses
Interest		154,787			237,109			-
Depreciation and amortization		288,474			351,840			-
Taxes and insurance		123,765			208,711			-
Repairs and maintenance		126,872			340,146			-
Operating expenses		394,926			663,366			-
Impairment loss		-			-			-
Other expenses		21,240			18,000			-
		1,110,064			1,819,172			-
NET INCOME (LOSS)	$	(88,775	)	$	28,888		$	-
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(71,171	)	$	(60,830	)	$	-
Net income (loss) allocated to other partners	$	(17,604	)	$	89,718		$	-

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-177

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 40			Series 41			Series 42
Revenue
Rent	$	2,283,836		$	4,412,627		$	5,090,021
Interest and other		62,781			84,421			137,483
		2,346,617			4,497,048			5,227,504
Expenses
Interest		409,713			839,230			1,054,603
Depreciation and amortization		658,520			959,310			1,250,104
Taxes and insurance		265,802			594,085			660,648
Repairs and maintenance		648,664			908,083			1,189,295
Operating expenses		907,664			1,295,534			1,375,366
Impairment loss		-			-			-
Other expenses		40,662			285,669			293,209
		2,931,025			4,881,911			5,823,225
NET INCOME (LOSS)	$	(584,408	)	$	(384,863	)	$	(595,721	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(529,771	)	$	(453,901	)	$	(579,351	)
Net income (loss) allocated to other partners	$	(54,637	)	$	69,038		$	(16,370	)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-178

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 43			Series 44			Series 45
Revenue
Rent	$	5,672,841		$	7,803,146		$	7,720,272
Interest and other		322,373			299,178			181,028
		5,995,214			8,102,324			7,901,300
Expenses
Interest		859,783			1,856,141			969,028
Depreciation and amortization		1,864,267			1,852,534			2,091,134
Taxes and insurance		680,940			516,078			759,561
Repairs and maintenance		1,397,953			1,519,781			1,901,521
Operating expenses		2,113,375			2,512,418			2,804,275
Impairment loss		-			-			-
Other expenses		45,619			68,979			237,099
		6,961,937			8,325,931			8,762,618
NET INCOME (LOSS)	$	(966,723	)	$	(223,607	)	$	(861,318	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(638,082	)	$	(407,845	)	$	(897,088	)
Net income (loss) allocated to other partners	$	(328,641	)	$	184,238		$	35,770

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-179

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2018 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2018 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 46
Revenue
Rent	$	5,035,676
Interest and other		199,783
		5,235,459
Expenses
Interest		994,260
Depreciation and amortization		1,266,468
Taxes and insurance		732,221
Repairs and maintenance		841,814
Operating expenses		1,600,480
Impairment loss		-
Other expenses		44,274
		5,479,517
NET INCOME (LOSS)	$	(244,058	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(369,510	)
Net income (loss) allocated to other partners	$	125,452

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-180

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Total			Series 20			Series 21
Revenue
Rent	$	85,755,446		$	889,757		$	493,555
Interest and other		2,943,930			51,176			3,440
		88,699,376			940,933			496,995
Expenses
Interest		17,012,370			67,782			39,664
Depreciation and amortization		22,495,020			257,685			82,880
Taxes and insurance		10,332,106			96,986			68,302
Repairs and maintenance		19,174,823			304,750			129,182
Operating expenses		29,285,986			360,239			195,717
Impairment loss		-			-			-
Other expenses		1,936,798			14,439			-
		100,237,103			1,101,881			515,745
NET INCOME (LOSS)	$	(11,537,727	)	$	(160,948	)	$	(18,750	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(8,901,790	)	$	(106,474	)	$	(39,102	)
Net income (loss) allocated to other partners	$	(2,635,937	)	$	(54,474	)	$	20,352

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-181

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 22			Series 23			Series 24
Revenue
Rent	$	780,062		$	1,426,787		$	1,218,703
Interest and other		36,302			112,584			28,210
		816,364			1,539,371			1,246,913
Expenses
Interest		70,347			117,886			127,601
Depreciation and amortization		166,222			286,650			361,276
Taxes and insurance		110,615			155,346			117,868
Repairs and maintenance		289,406			284,376			357,522
Operating expenses		283,947			864,097			486,157
Impairment loss		-			-			-
Other expenses		13,232			14,212			11,156
		933,769			1,722,567			1,461,580
NET INCOME (LOSS)	$	(117,405	)	$	(183,196	)	$	(214,667	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(45,959	)	$	(159,714	)	$	(185,148	)
Net income (loss) allocated to other partners	$	(71,446	)	$	(23,482	)	$	(29,519	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-182

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 25			Series 26			Series 27
Revenue
Rent	$	857,567		$	2,172,933		$	3,174,381
Interest and other		20,950			57,555			25,493
		878,517			2,230,488			3,199,874
Expenses
Interest		80,735			306,650			509,261
Depreciation and amortization		176,707			572,435			661,245
Taxes and insurance		92,956			296,029			366,487
Repairs and maintenance		188,389			687,453			605,819
Operating expenses		368,878			850,626			974,005
Impairment loss		-			-			-
Other expenses		8,814			15,500			38,677
		916,479			2,728,693			3,155,494
NET INCOME (LOSS)	$	(37,962	)	$	(498,205	)	$	44,380
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(112,755	)	$	(500,992	)	$	(164,034	)
Net income (loss) allocated to other partners	$	74,793		$	2,787		$	208,414

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-183

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 28			Series 29			Series 30
Revenue
Rent	$	1,002,280		$	1,870,776		$	1,509,820
Interest and other		25,270			170,891			38,014
		1,027,550			2,041,667			1,547,834
Expenses
Interest		163,031			417,247			157,690
Depreciation and amortization		225,777			541,192			405,826
Taxes and insurance		132,749			269,958			197,172
Repairs and maintenance		213,513			457,333			335,232
Operating expenses		437,570			909,738			625,657
Impairment loss		-			-			-
Other expenses		-			20,300			9,527
		1,172,640			2,615,768			1,731,104
NET INCOME (LOSS)	$	(145,090	)	$	(574,101	)	$	(183,270	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(198,898	)	$	(531,118	)	$	(187,074	)
Net income (loss) allocated to other partners	$	53,808		$	(42,983	)	$	3,804

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-184

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 31			Series 32			Series 33
Revenue
Rent	$	1,706,240		$	2,847,292		$	2,625,326
Interest and other		48,995			86,930			86,895
		1,755,235			2,934,222			2,712,221
Expenses
Interest		168,268			468,653			441,719
Depreciation and amortization		573,233			816,277			707,952
Taxes and insurance		288,339			348,890			335,238
Repairs and maintenance		284,817			745,036			623,753
Operating expenses		935,094			929,535			990,872
Impairment loss		-			-			-
Other expenses		6,013			220,748			110,459
		2,255,764			3,529,139			3,209,993
NET INCOME (LOSS)	$	(500,529	)	$	(594,917	)	$	(497,772	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(497,487	)	$	(529,907	)	$	(297,842	)
Net income (loss) allocated to other partners	$	(3,042	)	$	(65,010	)	$	(199,930	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-185

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 34			Series 35			Series 36
Revenue
Rent	$	971,745		$	1,806,433		$	1,365,067
Interest and other		35,012			69,612			90,846
		1,006,757			1,876,045			1,455,913
Expenses
Interest		104,262			290,660			257,096
Depreciation and amortization		275,627			485,344			400,786
Taxes and insurance		141,495			203,459			252,292
Repairs and maintenance		286,631			260,199			277,928
Operating expenses		326,343			620,343			434,010
Impairment loss		-			-			-
Other expenses		-			25,200			33,541
		1,134,358			1,885,205			1,655,653
NET INCOME (LOSS)	$	(127,601	)	$	(9,160	)	$	(199,740	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(136,875	)	$	(40,749	)	$	(131,250	)
Net income (loss) allocated to other partners	$	9,274		$	31,589		$	(68,490	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-186

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 37			Series 38			Series 39
Revenue
Rent	$	1,039,639		$	1,774,853		$	168,432
Interest and other		102,567			21,673			-
		1,142,206			1,796,526			168,432
Expenses
Interest		160,035			247,122			6,237
Depreciation and amortization		358,716			372,627			29,091
Taxes and insurance		201,945			214,991			15,558
Repairs and maintenance		193,056			414,817			60,340
Operating expenses		402,404			633,207			70,601
Impairment loss		-			-			-
Other expenses		23,041			18,000			-
		1,339,197			1,900,764			181,827
NET INCOME (LOSS)	$	(196,991	)	$	(104,238	)	$	(13,395	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(141,806	)	$	(144,427	)	$	(13,393	)
Net income (loss) allocated to other partners	$	(55,185	)	$	40,189		$	(2	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-187

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 40			Series 41			Series 42
Revenue
Rent	$	7,913,892		$	12,012,632		$	7,743,859
Interest and other		203,429			279,982			260,401
		8,117,321			12,292,614			8,004,260
Expenses
Interest		2,291,713			3,221,005			1,812,102
Depreciation and amortization		1,873,123			2,810,380			2,129,667
Taxes and insurance		1,045,058			1,452,787			865,086
Repairs and maintenance		1,488,255			2,489,498			1,833,446
Operating expenses		1,783,214			3,034,020			2,567,479
Impairment loss		-			-			-
Other expenses		296,558			340,154			297,284
		8,777,921			13,347,844			9,505,064
NET INCOME (LOSS)	$	(660,600	)	$	(1,055,230	)	$	(1,500,804	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(695,283	)	$	(535,125	)	$	(678,898	)
Net income (loss) allocated to other partners	$	34,683		$	(520,105	)	$	(821,906	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-188

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 43			Series 44			Series 45
Revenue
Rent	$	7,766,042		$	7,687,702		$	8,007,329
Interest and other		468,895			327,166			178,014
		8,234,937			8,014,868			8,185,343
Expenses
Interest		1,506,832			1,873,630			1,104,605
Depreciation and amortization		2,528,048			1,868,001			2,250,286
Taxes and insurance		817,994			554,655			948,985
Repairs and maintenance		1,962,505			1,516,605			1,937,661
Operating expenses		3,247,142			2,660,711			2,758,102
Impairment loss		-			-			-
Other expenses		69,965			97,607			214,186
		10,132,486			8,571,209			9,213,825
NET INCOME (LOSS)	$	(1,897,549	)	$	(556,341	)	$	(1,028,482	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(749,824	)	$	(596,043	)	$	(915,282	)
Net income (loss) allocated to other partners	$	(1,147,725	)	$	39,702		$	(113,200	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-189

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 46
Revenue
Rent	$	4,922,342
Interest and other		113,628
		5,035,970
Expenses
Interest		1,000,537
Depreciation and amortization		1,277,967
Taxes and insurance		740,866
Repairs and maintenance		947,301
Operating expenses		1,536,278
Impairment loss		-
Other expenses		38,185
		5,541,134
NET INCOME (LOSS)	$	(505,164	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(566,331	)
Net income (loss) allocated to other partners	$	61,167

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-190

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE D - NOTES RECEIVABLE

Notes receivable at March 31, 2018 and 2017 consist of advance installments of $0 and $22,790, respectively, of capital contributions to operating limited partnerships. The notes are comprised of interest bearing notes at prime + 1.75%. Prime was 3.25% as of March 31, 2018 and 2017. These notes are secured by future installments of capital contributions or paid upon demand. The notes at March 31, 2018 and 2017 by series are as follows:

	2018		2017
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		-		-
Series 30		-		-
Series 31		-		-
Series 32		-		-
Series 33		-		-
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		-
Series 38		-		-
Series 39		-		-
Series 40		-		-
Series 41		-		-
Series 42		-		22,790
Series 43		-		-
Series 44		-		-
Series 45		-		-
Series 46		-		-
	$	-	$	22,790

F-191

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Total			Series 20			Series 21
Net income (loss) for financial reporting purposes	$	9,787,196		$	(6,894	)	$	9,244
Operating limited partnership rents received in advance		13,134			50			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(8,810,810	)		(22,179	)		(250,346	)
Other		14,169,885			733,304			-
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(6,894,299	)		(41,124	)		-
Excess of tax depreciation over book depreciation on operating limited partnership assets		(2,514,249	)		401			-
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(13,573,039	)		(17,657	)		951,647
Income (loss) for tax return purposes, December 31, 2017	$	(7,822,182	)	$	645,901		$	710,545

F-192

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 22			Series 23			Series 24
Net income (loss) for financial reporting purposes	$	(59,412	)	$	943,256		$	21,331
Operating limited partnership rents received in advance		-			-			777
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		29,212			(1,156,287	)		-
Other		2			(225,288	)		(18,366	)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(61,031	)		(36,752	)		(164,872	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(21,871	)		(29,857	)		(35,635	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(13,333	)		(320,484	)		(109,573	)
Income (loss) for tax return purposes, December 31, 2017	$	(126,433	)	$	(825,412	)	$	(306,338	)

F-193

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 25		Series 26			Series 27
Net income (loss) for financial reporting purposes	$	34,406	$	(35,421	)	$	3,225,133
Operating limited partnership rents received in advance		-		-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		-			-
Other		-		1,333,631			5,285,281
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		-		(366,786	)		(122,997	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		-		(91,645	)		(35,980	)
Impairment loss not recognized for tax purposes		-		-			-
Operating limited partnership impairment loss not recognized for tax purposes		-		-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		151,588		(113,791	)		(3,477,575	)
Income (loss) for tax return purposes, December 31, 2017	$	185,994	$	725,988		$	4,873,862

F-194

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 28			Series 29			Series 30
Net income (loss) for financial reporting purposes	$	(69,919	)	$	203,747		$	240,789
Operating limited partnership rents received in advance		-			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			80,369			(21,019	)
Other		194,238			(129,500	)		782,386
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(195,312	)		(282,525	)		(144,991	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(74,586	)		(84,435	)		(84,171	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(12,139	)		(361,500	)		(228,100	)
Income (loss) for tax return purposes, December 31, 2017	$	(157,718	)	$	(573,844	)	$	544,894

F-195

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 31			Series 32			Series 33
Net income (loss) for financial reporting purposes	$	(75,968	)	$	1,576,107		$	121,295
Operating limited partnership rents received in advance		-			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			(1,847,595	)		62,127
Other		452,761			(189,392	)		(59,893	)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(508,072	)		(529,903	)		(166,677	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(104,750	)		(113,242	)		(106,881	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(50,514	)		(971,004	)		(215,225	)
Income (loss) for tax return purposes, December 31, 2017	$	(286,543	)	$	(2,075,029	)	$	(365,254	)

F-196

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 34			Series 35			Series 36
Net income (loss) for financial reporting purposes	$	(73,012	)	$	2,587,521		$	(60,762	)
Operating limited partnership rents received in advance		-			-			2,778
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(381,229	)		(551,982	)		(767,505	)
Other		40,711			2,508,317			21,740
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(131,700	)		(28,464	)		(105,544	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(67,604	)		(20,415	)		(29,474	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(83,107	)		(3,352,191	)		(64,237	)
Income (loss) for tax return purposes, December 31, 2017	$	(695,941	)	$	1,142,786		$	(1,003,004	)

F-197

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 37			Series 38			Series 39
Net income (loss) for financial reporting purposes	$	90,852		$	(46,425	)	$	(48,069	)
Operating limited partnership rents received in advance		11,662			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(1,530,566	)		(1,497,751	)		(933,785	)
Other		1,023,999			1,088,875			-
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(71,171	)		(60,830	)		-
Excess of tax depreciation over book depreciation on operating limited partnership assets		-			(115,819	)		-
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(812,963	)		(709,313	)		(918,718	)
Income (loss) for tax return purposes, December 31, 2017	$	(1,288,187	)	$	(1,341,263	)	$	(1,900,572	)

F-198

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 40			Series 41			Series 42
Net income (loss) for financial reporting purposes	$	454,012		$	814,281		$	265,175
Operating limited partnership rents received in advance		(171	)		-			(1,477	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(270,989	)		(392,649	)		-
Other		196,272			278,963			(15,484	)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(529,771	)		(453,901	)		(579,351	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(137,534	)		(141,798	)		(119,125	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(444,218	)		(593,397	)		(547,917	)
Income (loss) for tax return purposes, December 31, 2017	$	(732,399	)	$	(488,501	)	$	(998,179	)

F-199

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 43			Series 44			Series 45
Net income (loss) for financial reporting purposes	$	349,598		$	(227,804	)	$	(276,116	)
Operating limited partnership rents received in advance		(485	)		-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		143,797			231,224			281,324
Other		239,450			491,352			85,888
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(638,082	)		(407,845	)		(897,088	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(139,389	)		(294,302	)		(260,708	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(961,052	)		(87,589	)		(156,431	)
Income (loss) for tax return purposes, December 31, 2017	$	(1,006,163	)	$	(294,964	)	$	(1,223,131	)

F-200

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 46
Net income (loss) for financial reporting purposes	$	(169,749	)
Operating limited partnership rents received in advance		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(14,981	)
Other		50,638
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(369,510	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(405,429	)
Impairment loss not recognized for tax purposes		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(54,246	)
Income (loss) for tax return purposes, December 31, 2017	$	(963,277	)

F-201

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Total			Series 20			Series 21
Net income (loss) for financial reporting purposes	$	15,103,290		$	65,321		$	(44,938	)
Operating limited partnership rents received in advance		155			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(9,530,240	)		24,843			(139,128	)
Other		8,210,250			522,385			18,446
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(8,901,790	)		(106,474	)		(39,102	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(2,914,770	)		(17,784	)		(33,177	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(17,518,111	)		(131,295	)		1,060
Income (loss) for tax return purposes, December 31, 2016	$	(15,551,216	)	$	356,996		$	(236,839	)

F-202

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 22			Series 23			Series 24
Net income (loss) for financial reporting purposes	$	(72,794	)	$	402,128		$	(75,371	)
Operating limited partnership rents received in advance		-			-			(358	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		29,208			37,362			-
Other		547,008			60,716			30,366
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(45,959	)		(159,714	)		(185,148	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(19,546	)		(28,172	)		(52,400	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(31,291	)		(703,528	)		(10,228	)
Income (loss) for tax return purposes, December 31, 2016	$	406,626		$	(391,208	)	$	(293,139	)

F-203

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 25			Series 26			Series 27
Net income (loss) for financial reporting purposes	$	(51,336	)	$	(126,723	)	$	2,675,164
Operating limited partnership rents received in advance		-			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			-			-
Other		65,984			708			3,509,504
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(112,755	)		(500,992	)		(164,034	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(61,003	)		(102,807	)		106,695
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(6,578	)		(11,559	)		(2,896,130	)
Income (loss) for tax return purposes, December 31, 2016	$	(165,688	)	$	(741,373	)	$	3,231,199

F-204

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 28			Series 29			Series 30
Net income (loss) for financial reporting purposes	$	(64,444	)	$	(173,797	)	$	(103,851	)
Operating limited partnership rents received in advance		-			8,486			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			(99,313	)		69,684
Other		87,980			97,387			21,360
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(198,898	)		(531,118	)		(187,074	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(70,559	)		(111,292	)		(104,590	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(10,783	)		217,422			(285,411	)
Income (loss) for tax return purposes, December 31, 2016	$	(256,704	)	$	(592,225	)	$	(589,882	)

F-205

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 31			Series 32			Series 33
Net income (loss) for financial reporting purposes	$	698,887		$	374,024		$	(94,282	)
Operating limited partnership rents received in advance		-			(1,053	)		3,591
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			(593,524	)		(834,408	)
Other		1,772,400			76,514			116,153
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(497,487	)		(529,907	)		(297,842	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(120,866	)		(148,783	)		(122,731	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(879,687	)		(580,023	)		(5,328	)
Income (loss) for tax return purposes, December 31, 2016	$	973,247		$	(1,402,752	)	$	(1,234,847	)

F-206

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 34			Series 35			Series 36
Net income (loss) for financial reporting purposes	$	556,742		$	2,641,797		$	2,482,508
Operating limited partnership rents received in advance		-			2,642			(1,519	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(248,259	)		(1,942,253	)		(525,031	)
Other		(1,066,168	)		1,264,928			889,821
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(136,875	)		(40,749	)		(131,250	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(70,296	)		(79,294	)		(29,683	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(647,142	)		(2,304,632	)		(2,582,560	)
Income (loss) for tax return purposes, December 31, 2016	$	(1,611,998	)	$	(457,561	)	$	102,286

F-207

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 37			Series 38			Series 39
Net income (loss) for financial reporting purposes	$	2,213,042		$	3,212,273		$	1,554,531
Operating limited partnership rents received in advance		(6,374	)		-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(457,692	)		(504,647	)		(620,973	)
Other		1,380,551			2,040,553			(1,571,550	)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(141,806	)		(144,427	)		(13,393	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(20,612	)		(112,811	)		(13,019	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(1,854,291	)		(2,730,241	)		(1,069,742	)
Income (loss) for tax return purposes, December 31, 2016	$	1,112,818		$	1,760,700		$	(1,734,146	)

F-208

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 40			Series 41			Series 42
Net income (loss) for financial reporting purposes	$	(79,129	)	$	(137,219	)	$	(199,189	)
Operating limited partnership rents received in advance		(2,549	)		-			240
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(178,258	)		124,592			(2,141,040	)
Other		(2,082,251	)		(176,849	)		124,991
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(695,283	)		(535,125	)		(678,898	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(115,566	)		(207,789	)		(215,303	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(158,655	)		(202,362	)		(67,226	)
Income (loss) for tax return purposes, December 31, 2016	$	(3,311,691	)	$	(1,134,752	)	$	(3,176,425	)

F-209

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 43			Series 44			Series 45
Net income (loss) for financial reporting purposes	$	(246,031	)	$	(231,517	)	$	(244,274	)
Operating limited partnership rents received in advance		(323	)		-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(2,289,322	)		239,076			282,759
Other		(137,271	)		(62,471	)		239,056
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(749,824	)		(596,043	)		(915,282	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(195,524	)		(295,249	)		(274,370	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		186,238			(128,192	)		(137,774	)
Income (loss) for tax return purposes, December 31, 2016	$	(3,432,057	)	$	(1,074,396	)	$	(1,049,885	)

F-210

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 46
Net income (loss) for financial reporting purposes	$	171,768
Operating limited partnership rents received in advance		(2,628	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		236,084
Other		439,999
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(566,331	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(398,239	)
Impairment loss not recognized for tax purposes		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(488,173	)
Income (loss) for tax return purposes, December 31, 2016	$	(607,520	)

F-211

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Total			Series 20			Series 21
Investments in operating limited partnerships - tax return December 31, 2017	$	14,372,703		$	(499,918	)	$	-
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		54,135,331			346,427			-
Impairment loss in investment in operating limited partnerships		(101,705,964	)		(337,192	)		-
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		(110,689	)		(144	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		33,308,619			490,827			-
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-212

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 22			Series 23			Series 24
Investments in operating limited partnerships - tax return December 31, 2017	$	(959,438	)	$	(374,542	)	$	(1,497,270	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		917,196			278,856			2,244,208
Impairment loss in investment in operating limited partnerships		(325,787	)		(554,366	)		(1,018,072	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		(7,927	)		5,691			(5,141	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		375,956			644,361			276,275
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-213

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 25		Series 26			Series 27
Investments in operating limited partnerships - tax return December 31, 2017	$	-	$	(4,269,725	)	$	337,039
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		-		3,965,540			925,221
Impairment loss in investment in operating limited partnerships		-		(902,540	)		(2,626,423	)
Historic tax credits - cumulative		-		-			-
Less share of loss - three months ended March 31, 2018		-		(28,901	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-			-
Other		-		1,235,626			1,364,163
Investments in operating limited partnerships - as reported	$	-	$	-		$	-

F-214

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 28			Series 29			Series 30
Investments in operating limited partnerships - tax return December 31, 2017	$	(1,677,298	)	$	(809,909	)	$	(797,391	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,012,890			2,943,963			1,447,713
Impairment loss in investment in operating limited partnerships		(973,150	)		(2,645,150	)		(1,571,164	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		(33,990	)		(39,537	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		671,548			550,633			920,842
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-215

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 31			Series 32			Series 33
Investments in operating limited partnerships - tax return December 31, 2017	$	(1,472,975	)	$	2,314,568		$	2,108,030
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		3,336,809			3,691,664			1,423,036
Impairment loss in investment in operating limited partnerships		(3,106,050	)		(8,016,312	)		(5,228,587	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		(740	)		-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,242,956			2,010,080			1,697,521
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-216

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 34			Series 35			Series 36
Investments in operating limited partnerships - tax return December 31, 2017	$	1,329,228		$	(1,262,041	)	$	1,059,543
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,445,856			2,119,964			1,076,427
Impairment loss in investment in operating limited partnerships		(3,951,725	)		(754,520	)		(2,406,542	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,176,641			(103,403	)		270,572
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-217

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 37			Series 38			Series 39
Investments in operating limited partnerships - tax return December 31, 2017	$	1,720,746		$	4,598,836		$	-
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,295,610			890,820			-
Impairment loss in investment in operating limited partnerships		(3,023,930	)		(7,249,126	)		-
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		7,574			1,759,470			-
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-218

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 40			Series 41			Series 42
Investments in operating limited partnerships - tax return December 31, 2017	$	706,370		$	(2,432,159	)	$	(576,343	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,760,624			3,298,857			3,931,656
Impairment loss in investment in operating limited partnerships		(5,308,127	)		(3,548,252	)		(4,092,870	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,841,133			2,681,554			737,557
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-219

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 43			Series 44			Series 45
Investments in operating limited partnerships - tax return December 31, 2017	$	3,032,936		$	(1,629,402	)	$	9,271,463
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		4,470,306			4,653,305			3,073,662
Impairment loss in investment in operating limited partnerships		(8,893,106	)		(5,557,696	)		(16,583,879	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,389,864			2,533,793			4,238,754
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-220

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 46
Investments in operating limited partnerships - tax return December 31, 2017	$	6,152,355
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,584,721
Impairment loss in investment in operating limited partnerships		(13,031,398	)
Historic tax credits - cumulative		-
Less share of loss - three months ended March 31, 2018		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Other		5,294,322
Investments in operating limited partnerships - as reported	$	-

F-221

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Total			Series 20			Series 21
Investments in operating limited partnerships - tax return December 31, 2016	$	23,526,808		$	(1,140,956	)	$	(984,278	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		57,696,047			1,066,850			325,745
Impairment loss in investment in operating limited partnerships		(122,872,037	)		(337,192	)		(38,116	)
Historic tax credits - cumulative		978,267			570,617			-
Less share of loss - three months ended March 31, 2017		(183,255	)		(7,136	)		(15,685	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		40,854,170			(152,183	)		712,334
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-222

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 22			Series 23			Series 24
Investments in operating limited partnerships - tax return December 31, 2016	$	(876,538	)	$	1,392,317		$	(1,278,780	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		856,165			970,072			2,267,378
Impairment loss in investment in operating limited partnerships		(325,787	)		(2,213,351	)		(1,151,381	)
Historic tax credits - cumulative		223,537			-			-
Less share of loss - three months ended March 31, 2017		(7,927	)		5,691			(841	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		130,550			(154,729	)		163,624
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-223

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 25			Series 26			Series 27
Investments in operating limited partnerships - tax return December 31, 2016	$	(268,984	)	$	(5,065,008	)	$	(1,594,442	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		456,606			4,815,872			1,317,831
Impairment loss in investment in operating limited partnerships		(1,430,062	)		(1,350,275	)		(3,487,976	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		(31,239	)		(45,732	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,273,679			1,645,143			3,764,587
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-224

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 28			Series 29			Series 30
Investments in operating limited partnerships - tax return December 31, 2016	$	(1,601,638	)	$	(313,449	)	$	(1,084,631	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,819,446			3,478,199			2,083,473
Impairment loss in investment in operating limited partnerships		(930,910	)		(5,444,545	)		(2,194,151	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		(33,990	)		(39,537	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		747,092			2,319,332			1,195,309
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-225

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 31			Series 32			Series 33
Investments in operating limited partnerships - tax return December 31, 2016	$	(1,182,450	)	$	5,351,336		$	2,508,935
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		3,188,582			3,395,101			1,876,329
Impairment loss in investment in operating limited partnerships		(3,574,025	)		(9,175,569	)		(6,568,884	)
Historic tax credits - cumulative		-			184,113			-
Less share of loss - three months ended March 31, 2017		(6,859	)		-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,574,752			245,019			2,183,620
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-226

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 34			Series 35			Series 36
Investments in operating limited partnerships - tax return December 31, 2016	$	1,488,403		$	(884,003	)	$	1,174,145
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,354,867			2,237,121			984,727
Impairment loss in investment in operating limited partnerships		(3,951,725	)		(2,462,259	)		(2,406,542	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,108,455			1,109,141			247,670
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-227

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 37			Series 38			Series 39
Investments in operating limited partnerships - tax return December 31, 2016	$	1,316,599		$	5,168,309		$	767,711
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,916,369			866,648			97,796
Impairment loss in investment in operating limited partnerships		(3,922,795	)		(7,194,962	)		(233,531	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		689,827			1,160,005			(631,976	)
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-228

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 40			Series 41			Series 42
Investments in operating limited partnerships - tax return December 31, 2016	$	1,822,558		$	(1,243,644	)	$	388,430
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,230,853			3,483,277			4,285,267
Impairment loss in investment in operating limited partnerships		(5,441,719	)		(5,854,800	)		(7,195,970	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,388,308			3,615,167			2,522,273
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-229

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 43			Series 44			Series 45
Investments in operating limited partnerships - tax return December 31, 2016	$	3,816,055		$	(1,407,277	)	$	10,366,187
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		4,434,039			4,416,600			2,226,331
Impairment loss in investment in operating limited partnerships		(11,001,252	)		(5,442,013	)		(16,541,124	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		2,751,158			2,432,690			3,948,606
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-230

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 46
Investments in operating limited partnerships - tax return December 31, 2016	$	6,891,901
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,244,503
Impairment loss in investment in operating limited partnerships		(13,001,121	)
Historic tax credits - cumulative		-
Less share of loss - three months ended March 31, 2017		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Other		4,864,717
Investments in operating limited partnerships - as reported	$	-

F-231

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE F - CASH EQUIVALENTS

Cash equivalents of $27,108,889 and $27,084,576 as of March 31, 2018 and 2017, respectively, include money market accounts with interest rates ranging from 0.10% to 0.35% per annum.

NOTE G - CONCENTRATION OF CREDIT RISK

The Fund maintains its cash and cash equivalent balances in several accounts in various financial institutions. The balances are generally insured by the Federal Deposit Insurance Corporation (FDIC) up to specified limits by each institution. At times, the balances may exceed these insurance limits; however, the Fund has not experienced any losses with respect to its balances in excess of FDIC insurance. Management believes that no significant concentration of credit risk with respect to these cash and cash equivalent balances exists as of March 31, 2018.

NOTE H - SUBSEQUENT EVENTS

Subsequent to March 31, 2018, the Fund has entered into agreements to either sell or transfer its interests in three operating limited partnerships, all of which closed by June 2018. The sales price and other terms for the disposition of the operating limited partnerships has been determined. The proceeds received for the operating limited partnerships were $664,657. The gain on the dispositions of these operating limited partnerships was $652,217 and was recognized in the first quarter of the fiscal year ended 2019.

NOTE I - FAIR VALUE OF FINANCIAL INSTRUMENTS

The Fund’s financial instruments relate to notes receivable and accounts payable - affiliates. Management has not disclosed the fair value of these financial instruments because determination of such fair value is deemed to be impractical. The notes receivable and accounts payable - affiliates are due from or owed to affiliates of the Fund. The unique nature of these financial instruments makes determination of any fair value impractical. See notes B and D for disclosure of the carrying amount and terms of these financial instruments.

F-232

EX-31.A

Exhibit 31.a

I, John P. Manning, certify that:

1. I have reviewed this annual report on Form 10-K of Boston Capital Tax Credit Fund IV L.P.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:  June 22, 2018	/s/ John P. Manning
	John P. Manning
	Principal Executive Officer

EX-31.B

Exhibit 31.b

I, Marc Teal, certify that:

1. I have reviewed this annual report on Form 10-K of Boston Capital Tax Credit Fund IV L.P.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:  June 22, 2018	/s/ Marc N. Teal
	Marc N. Teal Principal Financial Officer

EX-32.A

EXHIBIT 32.a

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Boston Capital Tax Credit Fund IV L.P. (the “Fund”) on Form 10-K for the period ended March 31, 2018 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, John P. Manning, Principal Executive Officer of the general partner of the general partner of the Fund’s general partner, C&M Management Inc., certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge, after due inquiry:

(1)	The Report fully complies with the requirements of section 13(a)-15 or 15(d)-15 of the Securities and Exchange Act of 1934; and
(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.

Date: June 22, 2018	/s/ John P. Manning
	John P. Manning
	Principal Executive Officer

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Fund and will be retained by the Fund and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.B

EXHIBIT 32.b

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Boston Capital Tax Credit Fund IV L.P. (the “Fund”) on Form 10-K for the period ended March 31, 2018 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Marc N. Teal, Principal Financial Officer of the general partner of the general partner of the Fund’s general partner, C&M Management Inc., certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge, after due inquiry:

(1) The Report fully complies with the requirements of section 13(a)-15 or 15(d)-15 of the Securities and Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.

Date: June 22, 2018	/s/ Marc N. Teal
	Marc. N. Teal
	Principal Financial Officer

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Fund and will be retained by the Fund and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document And Entity Information	12 Months Ended
	Mar. 31, 2018 USD ($) shares
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Entity Registrant Name	BOSTON CAPITAL TAX CREDIT FUND IV LP
Entity Central Index Key	0000913778
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float | $	$ 0
Entity Common Stock, Shares Outstanding | shares	0

XML

BALANCE SHEETS - USD ($)	Mar. 31, 2018	Mar. 31, 2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$ 0	$ 0
OTHER ASSETS
Cash and cash equivalents	27,208,717	27,209,997
Notes receivable	0	22,790
Other assets	40,088	164,773
ASSETS	27,248,805	27,397,560
LIABILITIES
Accounts payable, accrued expenses and other liabilities	654,673	697,432
Accounts payable - affiliates	29,495,273	39,637,826
Capital contributions payable	176,746	578,113
LIABILITIES	30,326,692	40,913,371
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	2,931,035	(6,338,126)
General Partner	(6,008,922)	(7,177,685)
PARTNERS' CAPITAL (DEFICIT)	(3,077,887)	(13,515,811)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	27,248,805	27,397,560
Series Twenty [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	241,987	271,060
Notes receivable	0	0
Other assets	0	0
ASSETS	241,987	271,060
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	1,444,723	1,466,902
Capital contributions payable	0	0
LIABILITIES	1,444,723	1,466,902
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(882,456)	(875,631)
General Partner	(320,280)	(320,211)
PARTNERS' CAPITAL (DEFICIT)	(1,202,736)	(1,195,842)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	241,987	271,060
Series Twenty One [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	241,102
Notes receivable	0	0
Other assets	0	0
ASSETS	0	241,102
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	0	1,321,237
Capital contributions payable	0	0
LIABILITIES	0	1,321,237
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(898,231)	(907,383)
General Partner	898,231	(172,752)
PARTNERS' CAPITAL (DEFICIT)	0	(1,080,135)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	241,102
Series Twenty Two [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	221,864	252,064
Notes receivable	0	0
Other assets	0	0
ASSETS	221,864	252,064
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	2,878,109	2,848,897
Capital contributions payable	0	0
LIABILITIES	2,878,109	2,848,897
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(2,410,599)	(2,351,781)
General Partner	(245,646)	(245,052)
PARTNERS' CAPITAL (DEFICIT)	(2,656,245)	(2,596,833)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	221,864	252,064
Series Twenty Three [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	446,136	659,167
Notes receivable	0	0
Other assets	0	0
ASSETS	446,136	659,167
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	933,387	2,089,674
Capital contributions payable	0	0
LIABILITIES	933,387	2,089,674
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(197,532)	(1,131,355)
General Partner	(289,719)	(299,152)
PARTNERS' CAPITAL (DEFICIT)	(487,251)	(1,430,507)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	446,136	659,167
Series Twenty Four [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	453,512	427,181
Notes receivable	0	0
Other assets	0	0
ASSETS	453,512	427,181
LIABILITIES
Accounts payable, accrued expenses and other liabilities	5,000	0
Accounts payable - affiliates	0	0
Capital contributions payable	0	0
LIABILITIES	5,000	0
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	623,279	602,161
General Partner	(174,767)	(174,980)
PARTNERS' CAPITAL (DEFICIT)	448,512	427,181
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	453,512	427,181
Series Twenty Five [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	344,461
Notes receivable	0	0
Other assets	0	1,250
ASSETS	0	345,711
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	0	0
Capital contributions payable	0	0
LIABILITIES	0	0
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	219,815	565,870
General Partner	(219,815)	(220,159)
PARTNERS' CAPITAL (DEFICIT)	0	345,711
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	345,711
Series Twenty Six [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	642,258	677,679
Notes receivable	0	0
Other assets	0	0
ASSETS	642,258	677,679
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	0	0
Capital contributions payable	0	0
LIABILITIES	0	0
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	954,178	989,245
General Partner	(311,920)	(311,566)
PARTNERS' CAPITAL (DEFICIT)	642,258	677,679
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	642,258	677,679
Series Twenty Seven [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	6,799,933	3,606,473
Notes receivable	0	0
Other assets	0	0
ASSETS	6,799,933	3,606,473
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	31,673
Accounts payable - affiliates	0	0
Capital contributions payable	0	0
LIABILITIES	0	31,673
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	6,938,381	3,745,499
General Partner	(138,448)	(170,699)
PARTNERS' CAPITAL (DEFICIT)	6,799,933	3,574,800
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	6,799,933	3,606,473
Series Twenty Eight [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	742,564	812,483
Notes receivable	0	0
Other assets	0	0
ASSETS	742,564	812,483
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	0	0
Capital contributions payable	0	0
LIABILITIES	0	0
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	1,016,975	1,086,195
General Partner	(274,411)	(273,712)
PARTNERS' CAPITAL (DEFICIT)	742,564	812,483
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	742,564	812,483
Series Twenty Nine [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	622,414	345,648
Notes receivable	0	0
Other assets	0	0
ASSETS	622,414	345,648
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	3,559,561	3,479,192
Capital contributions payable	885	8,235
LIABILITIES	3,560,446	3,487,427
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(2,570,004)	(2,771,714)
General Partner	(368,028)	(370,065)
PARTNERS' CAPITAL (DEFICIT)	(2,938,032)	(3,141,779)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	622,414	345,648
Series Thirty [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	453,433	270,126
Notes receivable	0	0
Other assets	0	0
ASSETS	453,433	270,126
LIABILITIES
Accounts payable, accrued expenses and other liabilities	3,500	0
Accounts payable - affiliates	1,620,957	1,641,976
Capital contributions payable	65,176	105,139
LIABILITIES	1,689,633	1,747,115
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(996,782)	(1,235,163)
General Partner	(239,418)	(241,826)
PARTNERS' CAPITAL (DEFICIT)	(1,236,200)	(1,476,989)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	453,433	270,126
Series Thirty One [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	1,971,680	2,047,648
Notes receivable	0	0
Other assets	25,000	25,000
ASSETS	1,996,680	2,072,648
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	0	0
Capital contributions payable	66,294	66,294
LIABILITIES	66,294	66,294
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	2,290,341	2,365,549
General Partner	(359,955)	(359,195)
PARTNERS' CAPITAL (DEFICIT)	1,930,386	2,006,354
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	1,996,680	2,072,648
Series Thirty Two [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	563,697	837,185
Notes receivable	0	0
Other assets	0	0
ASSETS	563,697	837,185
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	2,000
Accounts payable - affiliates	924,936	2,772,531
Capital contributions payable	1,229	1,229
LIABILITIES	926,165	2,775,760
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	47,520	(1,512,826)
General Partner	(409,988)	(425,749)
PARTNERS' CAPITAL (DEFICIT)	(362,468)	(1,938,575)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	563,697	837,185
Series Thirty Three [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	452,033	337,765
Notes receivable	0	0
Other assets	0	0
ASSETS	452,033	337,765
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	1,252,955	1,190,828
Capital contributions payable	0	69,154
LIABILITIES	1,252,955	1,259,982
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(567,133)	(687,215)
General Partner	(233,789)	(235,002)
PARTNERS' CAPITAL (DEFICIT)	(800,922)	(922,217)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	452,033	337,765
Series Thirty Four [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	394,837	849,078
Notes receivable	0	0
Other assets	0	0
ASSETS	394,837	849,078
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	2,840,368	3,221,597
Capital contributions payable	0	0
LIABILITIES	2,840,368	3,221,597
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(2,120,686)	(2,048,404)
General Partner	(324,845)	(324,115)
PARTNERS' CAPITAL (DEFICIT)	(2,445,531)	(2,372,519)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	394,837	849,078
Series Thirty Five [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	4,428,306	2,392,767
Notes receivable	0	0
Other assets	0	0
ASSETS	4,428,306	2,392,767
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	0	551,982
Capital contributions payable	0	0
LIABILITIES	0	551,982
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	4,666,048	2,104,402
General Partner	(237,742)	(263,617)
PARTNERS' CAPITAL (DEFICIT)	4,428,306	1,840,785
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	4,428,306	2,392,767
Series Thirty Six [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	2,106,050	2,934,317
Notes receivable	0	0
Other assets	0	0
ASSETS	2,106,050	2,934,317
LIABILITIES
Accounts payable, accrued expenses and other liabilities	131,000	131,000
Accounts payable - affiliates	0	767,505
Capital contributions payable	0	0
LIABILITIES	131,000	898,505
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	2,133,963	2,194,117
General Partner	(158,913)	(158,305)
PARTNERS' CAPITAL (DEFICIT)	1,975,050	2,035,812
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	2,106,050	2,934,317
Series Thirty Seven [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	517,887	2,096,039
Notes receivable	0	0
Other assets	0	0
ASSETS	517,887	2,096,039
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	513,149	2,043,715
Capital contributions payable	0	138,438
LIABILITIES	513,149	2,182,153
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	220,255	130,312
General Partner	(215,517)	(216,426)
PARTNERS' CAPITAL (DEFICIT)	4,738	(86,114)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	517,887	2,096,039
Series Thirty Eight [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	1,492,145	3,042,864
Notes receivable	0	0
Other assets	0	0
ASSETS	1,492,145	3,042,864
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	6,543
Accounts payable - affiliates	18,234	1,515,985
Capital contributions payable	0	0
LIABILITIES	18,234	1,522,528
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	1,677,456	1,723,417
General Partner	(203,545)	(203,081)
PARTNERS' CAPITAL (DEFICIT)	1,473,911	1,520,336
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	1,492,145	3,042,864
Series Thirty Nine [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	0	1,248,898
Notes receivable	0	0
Other assets	0	0
ASSETS	0	1,248,898
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	6,543
Accounts payable - affiliates	0	1,154,240
Capital contributions payable	0	0
LIABILITIES	0	1,160,783
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	196,043	283,677
General Partner	(196,043)	(195,562)
PARTNERS' CAPITAL (DEFICIT)	0	88,115
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	0	1,248,898
Series Forty [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	431,341	248,318
Notes receivable	0	0
Other assets	0	0
ASSETS	431,341	248,318
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	2,413,069	2,684,058
Capital contributions payable	102	102
LIABILITIES	2,413,171	2,684,160
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(1,737,068)	(2,186,540)
General Partner	(244,762)	(249,302)
PARTNERS' CAPITAL (DEFICIT)	(1,981,830)	(2,435,842)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	431,341	248,318
Series Forty One [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	741,152	322,902
Notes receivable	0	0
Other assets	0	1,218
ASSETS	741,152	324,120
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	4,500
Accounts payable - affiliates	2,893,606	3,286,255
Capital contributions payable	0	100
LIABILITIES	2,893,606	3,290,855
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(1,881,761)	(2,687,899)
General Partner	(270,693)	(278,836)
PARTNERS' CAPITAL (DEFICIT)	(2,152,454)	(2,966,735)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	741,152	324,120
Series Forty Two [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	1,327,017	1,072,528
Notes receivable	0	22,790
Other assets	11,300	51,003
ASSETS	1,338,317	1,146,321
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	0	0
Capital contributions payable	254	73,433
LIABILITIES	254	73,433
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	1,565,620	1,303,097
General Partner	(227,557)	(230,209)
PARTNERS' CAPITAL (DEFICIT)	1,338,063	1,072,888
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	1,338,317	1,146,321
Series Forty Three [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	854,364	351,638
Notes receivable	0	0
Other assets	0	82,514
ASSETS	854,364	434,152
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	915,591	771,794
Capital contributions payable	26,082	99,265
LIABILITIES	941,673	871,059
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	235,085	(111,017)
General Partner	(322,394)	(325,890)
PARTNERS' CAPITAL (DEFICIT)	(87,309)	(436,907)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	854,364	434,152
Series Forty Four [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	84,006	66,324
Notes receivable	0	0
Other assets	0	0
ASSETS	84,006	66,324
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	2,830,127	2,584,641
Capital contributions payable	0	0
LIABILITIES	2,830,127	2,584,641
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(2,481,212)	(2,255,686)
General Partner	(264,909)	(262,631)
PARTNERS' CAPITAL (DEFICIT)	(2,746,121)	(2,518,317)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	84,006	66,324
Series Forty Five [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	753,702	803,153
Notes receivable	0	0
Other assets	0	0
ASSETS	753,702	803,153
LIABILITIES
Accounts payable, accrued expenses and other liabilities	515,173	515,173
Accounts payable - affiliates	2,584,511	2,357,846
Capital contributions payable	16,724	16,724
LIABILITIES	3,116,408	2,889,743
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(1,985,417)	(1,712,062)
General Partner	(377,289)	(374,528)
PARTNERS' CAPITAL (DEFICIT)	(2,362,706)	(2,086,590)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	753,702	803,153
Series Forty Six [Member]
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	0	0
OTHER ASSETS
Cash and cash equivalents	466,399	651,129
Notes receivable	0	0
Other assets	3,788	3,788
ASSETS	470,187	654,917
LIABILITIES
Accounts payable, accrued expenses and other liabilities	0	0
Accounts payable - affiliates	1,871,990	1,886,971
Capital contributions payable	0	0
LIABILITIES	1,871,990	1,886,971
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner	0	0
Limited partners	(1,125,043)	(956,991)
General Partner	(276,760)	(275,063)
PARTNERS' CAPITAL (DEFICIT)	(1,401,803)	(1,232,054)
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)	$ 470,187	$ 654,917

XML

BALANCE SHEETS [Parenthetical] - $ / shares	Mar. 31, 2018	Mar. 31, 2017
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	83,651,080	83,651,080
Units of limited partnership interest, issued	83,651,080	83,651,080
Units of limited partnership interest, outstanding	83,175,478	83,310,666
Series Twenty [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	3,866,700	3,866,700
Units of limited partnership interest, issued	3,866,700	3,866,700
Units of limited partnership interest, outstanding	3,829,200	3,833,200
Series Twenty One [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	1,892,700	1,892,700
Units of limited partnership interest, issued	1,892,700	1,892,700
Units of limited partnership interest, outstanding	1,879,500	1,879,500
Series Twenty Two [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,564,400	2,564,400
Units of limited partnership interest, issued	2,564,400	2,564,400
Units of limited partnership interest, outstanding	2,550,645	2,557,045
Series Twenty Three [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	3,336,727	3,336,727
Units of limited partnership interest, issued	3,336,727	3,336,727
Units of limited partnership interest, outstanding	3,303,327	3,314,827
Series Twenty Four [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,169,878	2,169,878
Units of limited partnership interest, issued	2,169,878	2,169,878
Units of limited partnership interest, outstanding	2,152,753	2,154,253
Series Twenty Five [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	3,026,109	3,026,109
Units of limited partnership interest, issued	3,026,109	3,026,109
Units of limited partnership interest, outstanding	3,016,809	3,016,809
Series Twenty Six [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	3,995,900	3,995,900
Units of limited partnership interest, issued	3,995,900	3,995,900
Units of limited partnership interest, outstanding	3,965,400	3,977,000
Series Twenty Seven [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,460,700	2,460,700
Units of limited partnership interest, issued	2,460,700	2,460,700
Units of limited partnership interest, outstanding	2,443,900	2,446,400
Series Twenty Eight [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	4,000,738	4,000,738
Units of limited partnership interest, issued	4,000,738	4,000,738
Units of limited partnership interest, outstanding	3,984,138	3,990,738
Series Twenty Nine [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	3,991,800	3,991,800
Units of limited partnership interest, issued	3,991,800	3,991,800
Units of limited partnership interest, outstanding	3,955,225	3,965,300
Series Thirty [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,651,000	2,651,000
Units of limited partnership interest, issued	2,651,000	2,651,000
Units of limited partnership interest, outstanding	2,621,200	2,631,000
Series Thirty One [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	4,417,857	4,417,857
Units of limited partnership interest, issued	4,417,857	4,417,857
Units of limited partnership interest, outstanding	4,382,757	4,395,557
Series Thirty Two [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	4,754,198	4,754,198
Units of limited partnership interest, issued	4,754,198	4,754,198
Units of limited partnership interest, outstanding	4,736,198	4,740,198
Series Thirty Three [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,636,533	2,636,533
Units of limited partnership interest, issued	2,636,533	2,636,533
Units of limited partnership interest, outstanding	2,626,533	2,626,533
Series Thirty Four [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	3,529,319	3,529,319
Units of limited partnership interest, issued	3,529,319	3,529,319
Units of limited partnership interest, outstanding	3,509,919	3,517,419
Series Thirty Five [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	3,300,463	3,300,463
Units of limited partnership interest, issued	3,300,463	3,300,463
Units of limited partnership interest, outstanding	3,279,913	3,288,363
Series Thirty Six [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,106,838	2,106,838
Units of limited partnership interest, issued	2,106,838	2,106,838
Units of limited partnership interest, outstanding	2,092,704	2,095,704
Series Thirty Seven [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,512,500	2,512,500
Units of limited partnership interest, issued	2,512,500	2,512,500
Units of limited partnership interest, outstanding	2,489,100	2,495,600
Series Thirty Eight [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,543,100	2,543,100
Units of limited partnership interest, issued	2,543,100	2,543,100
Units of limited partnership interest, outstanding	2,538,700	2,540,100
Series Thirty Nine [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,292,151	2,292,151
Units of limited partnership interest, issued	2,292,151	2,292,151
Units of limited partnership interest, outstanding	2,288,351	2,288,351
Series Forty [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,630,256	2,630,256
Units of limited partnership interest, issued	2,630,256	2,630,256
Units of limited partnership interest, outstanding	2,621,756	2,622,756
Series Forty One [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,891,626	2,891,626
Units of limited partnership interest, issued	2,891,626	2,891,626
Units of limited partnership interest, outstanding	2,874,926	2,884,126
Series Forty Two [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,744,262	2,744,262
Units of limited partnership interest, issued	2,744,262	2,744,262
Units of limited partnership interest, outstanding	2,732,262	2,736,262
Series Forty Three [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	3,637,987	3,637,987
Units of limited partnership interest, issued	3,637,987	3,637,987
Units of limited partnership interest, outstanding	3,629,487	3,632,487
Series Forty Four [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,701,973	2,701,973
Units of limited partnership interest, issued	2,701,973	2,701,973
Units of limited partnership interest, outstanding	2,693,973	2,699,473
Series Forty Five [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	4,014,367	4,014,367
Units of limited partnership interest, issued	4,014,367	4,014,367
Units of limited partnership interest, outstanding	4,008,167	4,009,667
Series Forty Six [Member]
Units of limited partnership interest, authorized	101,500,000	101,500,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Assignor Limited Partners Capital Account Units Issued	2,980,998	2,980,998
Units of limited partnership interest, issued	2,980,998	2,980,998
Units of limited partnership interest, outstanding	2,968,635	2,971,998

XML

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income
Interest income	$ 115,386	$ 52,063
Miscellaneous	351,362	318,673
Revenues	466,748	370,736
Gain on sale of operating limited partnerships	12,575,304	18,806,644
Expenses and loss
Fund management fee	1,994,955	2,469,863
General and administrative expenses	626,460	780,422
Professional fees	633,441	823,805
Operating expenses	3,254,856	4,074,090
NET INCOME (LOSS)	9,787,196	15,103,290
Net income (loss) allocated to general partner	97,872	151,033
Net income (loss) allocated to limited partners	$ 9,689,324	$ 14,952,257
Net income (loss) per BAC	$ 0.12	$ 0.18
Series Twenty [Member]
Income
Interest income	$ 611	$ 441
Miscellaneous	4,281	0
Revenues	4,892	441
Gain on sale of operating limited partnerships	42,000	138,000
Expenses and loss
Fund management fee	17,204	23,476
General and administrative expenses	21,644	35,102
Professional fees	14,938	14,542
Operating expenses	53,786	73,120
NET INCOME (LOSS)	(6,894)	65,321
Net income (loss) allocated to general partner	(69)	653
Net income (loss) allocated to limited partners	$ (6,825)	$ 64,668
Net income (loss) per BAC	$ 0	$ 0.02
Series Twenty One [Member]
Income
Interest income	$ 137	$ 582
Miscellaneous	859	859
Revenues	996	1,441
Gain on sale of operating limited partnerships	67,000	0
Expenses and loss
Fund management fee	5,603	8,821
General and administrative expenses	40,874	22,774
Professional fees	12,275	14,784
Operating expenses	58,752	46,379
NET INCOME (LOSS)	9,244	(44,938)
Net income (loss) allocated to general partner	92	(449)
Net income (loss) allocated to limited partners	$ 9,152	$ (44,489)
Net income (loss) per BAC	$ 0	$ (0.02)
Series Twenty Two [Member]
Income
Interest income	$ 623	$ 376
Miscellaneous	0	0
Revenues	623	376
Gain on sale of operating limited partnerships	0	0
Expenses and loss
Fund management fee	28,112	28,108
General and administrative expenses	18,448	28,021
Professional fees	13,475	17,041
Operating expenses	60,035	73,170
NET INCOME (LOSS)	(59,412)	(72,794)
Net income (loss) allocated to general partner	(594)	(728)
Net income (loss) allocated to limited partners	$ (58,818)	$ (72,066)
Net income (loss) per BAC	$ (0.02)	$ (0.03)
Series Twenty Three [Member]
Income
Interest income	$ 3,914	$ 303
Miscellaneous	7,909	0
Revenues	11,823	303
Gain on sale of operating limited partnerships	989,962	488,550
Expenses and loss
Fund management fee	20,474	32,282
General and administrative expenses	20,819	33,636
Professional fees	17,236	20,807
Operating expenses	58,529	86,725
NET INCOME (LOSS)	943,256	402,128
Net income (loss) allocated to general partner	9,433	4,021
Net income (loss) allocated to limited partners	$ 933,823	$ 398,107
Net income (loss) per BAC	$ 0.28	$ 0.12
Series Twenty Four [Member]
Income
Interest income	$ 743	$ 380
Miscellaneous	3,948	6,026
Revenues	4,691	6,406
Gain on sale of operating limited partnerships	95,000	0
Expenses and loss
Fund management fee	45,683	40,285
General and administrative expenses	17,684	26,138
Professional fees	14,993	15,354
Operating expenses	78,360	81,777
NET INCOME (LOSS)	21,331	(75,371)
Net income (loss) allocated to general partner	213	(754)
Net income (loss) allocated to limited partners	$ 21,118	$ (74,617)
Net income (loss) per BAC	$ 0.01	$ (0.03)
Series Twenty Five [Member]
Income
Interest income	$ 143	$ 331
Miscellaneous	10,178	10,178
Revenues	10,321	10,509
Gain on sale of operating limited partnerships	97,399	0
Expenses and loss
Fund management fee	9,682	16,376
General and administrative expenses	49,639	31,302
Professional fees	13,993	14,167
Operating expenses	73,314	61,845
NET INCOME (LOSS)	34,406	(51,336)
Net income (loss) allocated to general partner	344	(513)
Net income (loss) allocated to limited partners	$ 34,062	$ (50,823)
Net income (loss) per BAC	$ 0.01	$ (0.02)
Series Twenty Six [Member]
Income
Interest income	$ 1,464	$ 1,016
Miscellaneous	526	6,176
Revenues	1,990	7,192
Gain on sale of operating limited partnerships	80,000	18,500
Expenses and loss
Fund management fee	72,467	87,735
General and administrative expenses	23,134	39,315
Professional fees	21,810	25,365
Operating expenses	117,411	152,415
NET INCOME (LOSS)	(35,421)	(126,723)
Net income (loss) allocated to general partner	(354)	(1,267)
Net income (loss) allocated to limited partners	$ (35,067)	$ (125,456)
Net income (loss) per BAC	$ (0.01)	$ (0.03)
Series Twenty Seven [Member]
Income
Interest income	$ 28,709	$ 9,157
Miscellaneous	32,473	6,000
Revenues	61,182	15,157
Gain on sale of operating limited partnerships	3,291,567	3,016,000
Expenses and loss
Fund management fee	30,313	99,812
General and administrative expenses	17,529	25,464
Professional fees	79,774	230,717
Operating expenses	127,616	355,993
NET INCOME (LOSS)	3,225,133	2,675,164
Net income (loss) allocated to general partner	32,251	26,752
Net income (loss) allocated to limited partners	$ 3,192,882	$ 2,648,412
Net income (loss) per BAC	$ 1.31	$ 1.08
Series Twenty Eight [Member]
Income
Interest income	$ 1,605	$ 1,151
Miscellaneous	446	7,976
Revenues	2,051	9,127
Gain on sale of operating limited partnerships	0	5,000
Expenses and loss
Fund management fee	33,376	21,679
General and administrative expenses	21,296	34,775
Professional fees	17,298	22,117
Operating expenses	71,970	78,571
NET INCOME (LOSS)	(69,919)	(64,444)
Net income (loss) allocated to general partner	(699)	(644)
Net income (loss) allocated to limited partners	$ (69,220)	$ (63,800)
Net income (loss) per BAC	$ (0.02)	$ (0.02)
Series Twenty Nine [Member]
Income
Interest income	$ 1,017	$ 749
Miscellaneous	0	0
Revenues	1,017	749
Gain on sale of operating limited partnerships	303,958	0
Expenses and loss
Fund management fee	60,982	74,532
General and administrative expenses	22,264	35,610
Professional fees	17,982	64,404
Operating expenses	101,228	174,546
NET INCOME (LOSS)	203,747	(173,797)
Net income (loss) allocated to general partner	2,037	(1,738)
Net income (loss) allocated to limited partners	$ 201,710	$ (172,059)
Net income (loss) per BAC	$ 0.05	$ (0.04)
Series Thirty [Member]
Income
Interest income	$ 1,218	$ 637
Miscellaneous	1,243	1,243
Revenues	2,461	1,880
Gain on sale of operating limited partnerships	276,484	0
Expenses and loss
Fund management fee	3,527	59,468
General and administrative expenses	17,740	25,835
Professional fees	16,889	20,428
Operating expenses	38,156	105,731
NET INCOME (LOSS)	240,789	(103,851)
Net income (loss) allocated to general partner	2,408	(1,039)
Net income (loss) allocated to limited partners	$ 238,381	$ (102,812)
Net income (loss) per BAC	$ 0.09	$ (0.04)
Series Thirty One [Member]
Income
Interest income	$ 7,323	$ 2,782
Miscellaneous	1,116	590
Revenues	8,439	3,372
Gain on sale of operating limited partnerships	45,000	877,411
Expenses and loss
Fund management fee	80,082	121,262
General and administrative expenses	21,870	34,845
Professional fees	27,455	25,789
Operating expenses	129,407	181,896
NET INCOME (LOSS)	(75,968)	698,887
Net income (loss) allocated to general partner	(760)	6,989
Net income (loss) allocated to limited partners	$ (75,208)	$ 691,898
Net income (loss) per BAC	$ (0.02)	$ 0.16
Series Thirty Two [Member]
Income
Interest income	$ 3,929	$ 1,309
Miscellaneous	21,375	4,300
Revenues	25,304	5,609
Gain on sale of operating limited partnerships	1,677,252	569,552
Expenses and loss
Fund management fee	79,708	144,806
General and administrative expenses	26,372	36,276
Professional fees	20,369	20,055
Operating expenses	126,449	201,137
NET INCOME (LOSS)	1,576,107	374,024
Net income (loss) allocated to general partner	15,761	3,740
Net income (loss) allocated to limited partners	$ 1,560,346	$ 370,284
Net income (loss) per BAC	$ 0.33	$ 0.08
Series Thirty Three [Member]
Income
Interest income	$ 963	$ 1,400
Miscellaneous	5,329	1,800
Revenues	6,292	3,200
Gain on sale of operating limited partnerships	177,044	0
Expenses and loss
Fund management fee	30,737	56,922
General and administrative expenses	16,996	24,374
Professional fees	14,308	16,186
Operating expenses	62,041	97,482
NET INCOME (LOSS)	121,295	(94,282)
Net income (loss) allocated to general partner	1,213	(943)
Net income (loss) allocated to limited partners	$ 120,082	$ (93,339)
Net income (loss) per BAC	$ 0.05	$ (0.04)
Series Thirty Four [Member]
Income
Interest income	$ 1,908	$ 1,445
Miscellaneous	5,526	15,442
Revenues	7,434	16,887
Gain on sale of operating limited partnerships	0	630,691
Expenses and loss
Fund management fee	43,262	41,426
General and administrative expenses	19,236	29,336
Professional fees	17,948	20,074
Operating expenses	80,446	90,836
NET INCOME (LOSS)	(73,012)	556,742
Net income (loss) allocated to general partner	(730)	5,567
Net income (loss) allocated to limited partners	$ (72,282)	$ 551,175
Net income (loss) per BAC	$ (0.02)	$ 0.16
Series Thirty Five [Member]
Income
Interest income	$ 14,836	$ 8,322
Miscellaneous	2,818	4,893
Revenues	17,654	13,215
Gain on sale of operating limited partnerships	2,653,528	2,720,765
Expenses and loss
Fund management fee	47,409	43,447
General and administrative expenses	18,963	29,293
Professional fees	17,289	19,443
Operating expenses	83,661	92,183
NET INCOME (LOSS)	2,587,521	2,641,797
Net income (loss) allocated to general partner	25,875	26,418
Net income (loss) allocated to limited partners	$ 2,561,646	$ 2,615,379
Net income (loss) per BAC	$ 0.78	$ 0.8
Series Thirty Six [Member]
Income
Interest income	$ 8,490	$ 5,514
Miscellaneous	3,968	6,425
Revenues	12,458	11,939
Gain on sale of operating limited partnerships	0	2,515,373
Expenses and loss
Fund management fee	28,594	4,670
General and administrative expenses	15,908	21,777
Professional fees	28,718	18,357
Operating expenses	73,220	44,804
NET INCOME (LOSS)	(60,762)	2,482,508
Net income (loss) allocated to general partner	(608)	24,825
Net income (loss) allocated to limited partners	$ (60,154)	$ 2,457,683
Net income (loss) per BAC	$ (0.03)	$ 1.17
Series Thirty Seven [Member]
Income
Interest income	$ 5,243	$ 3,535
Miscellaneous	16,657	4,811
Revenues	21,900	8,346
Gain on sale of operating limited partnerships	140,415	2,349,732
Expenses and loss
Fund management fee	38,125	106,790
General and administrative expenses	16,053	22,977
Professional fees	17,285	15,269
Operating expenses	71,463	145,036
NET INCOME (LOSS)	90,852	2,213,042
Net income (loss) allocated to general partner	909	22,130
Net income (loss) allocated to limited partners	$ 89,943	$ 2,190,912
Net income (loss) per BAC	$ 0.04	$ 0.88
Series Thirty Eight [Member]
Income
Interest income	$ 9,561	$ 1,203
Miscellaneous	42,616	85,146
Revenues	52,177	86,349
Gain on sale of operating limited partnerships	0	3,273,698
Expenses and loss
Fund management fee	62,236	103,420
General and administrative expenses	16,974	24,162
Professional fees	19,392	20,192
Operating expenses	98,602	147,774
NET INCOME (LOSS)	(46,425)	3,212,273
Net income (loss) allocated to general partner	(464)	32,123
Net income (loss) allocated to limited partners	$ (45,961)	$ 3,180,150
Net income (loss) per BAC	$ (0.02)	$ 1.25
Series Thirty Nine [Member]
Income
Interest income	$ 870	$ 663
Miscellaneous	386	1,210
Revenues	1,256	1,873
Gain on sale of operating limited partnerships	17,779	1,645,989
Expenses and loss
Fund management fee	5,130	52,601
General and administrative expenses	42,679	21,423
Professional fees	19,295	19,307
Operating expenses	67,104	93,331
NET INCOME (LOSS)	(48,069)	1,554,531
Net income (loss) allocated to general partner	(481)	15,545
Net income (loss) allocated to limited partners	$ (47,588)	$ 1,538,986
Net income (loss) per BAC	$ (0.02)	$ 0.67
Series Forty [Member]
Income
Interest income	$ 1,393	$ 315
Miscellaneous	5,922	0
Revenues	7,315	315
Gain on sale of operating limited partnerships	588,952	93,700
Expenses and loss
Fund management fee	100,188	126,039
General and administrative expenses	17,352	23,982
Professional fees	24,715	23,123
Operating expenses	142,255	173,144
NET INCOME (LOSS)	454,012	(79,129)
Net income (loss) allocated to general partner	4,540	(791)
Net income (loss) allocated to limited partners	$ 449,472	$ (78,338)
Net income (loss) per BAC	$ 0.17	$ (0.03)
Series Forty One [Member]
Income
Interest income	$ 2,248	$ 651
Miscellaneous	13,908	42,406
Revenues	16,156	43,057
Gain on sale of operating limited partnerships	1,026,859	70,500
Expenses and loss
Fund management fee	184,017	196,640
General and administrative expenses	20,998	27,796
Professional fees	23,719	26,340
Operating expenses	228,734	250,776
NET INCOME (LOSS)	814,281	(137,219)
Net income (loss) allocated to general partner	8,143	(1,372)
Net income (loss) allocated to limited partners	$ 806,138	$ (135,847)
Net income (loss) per BAC	$ 0.28	$ (0.05)
Series Forty Two [Member]
Income
Interest income	$ 7,705	$ 4,004
Miscellaneous	15,960	4,406
Revenues	23,665	8,410
Gain on sale of operating limited partnerships	427,305	0
Expenses and loss
Fund management fee	135,503	152,300
General and administrative expenses	18,799	26,109
Professional fees	31,493	29,190
Operating expenses	185,795	207,599
NET INCOME (LOSS)	265,175	(199,189)
Net income (loss) allocated to general partner	2,652	(1,992)
Net income (loss) allocated to limited partners	$ 262,523	$ (197,197)
Net income (loss) per BAC	$ 0.1	$ (0.07)
Series Forty Three [Member]
Income
Interest income	$ 6,220	$ 4,077
Miscellaneous	46,345	1,759
Revenues	52,565	5,836
Gain on sale of operating limited partnerships	566,806	0
Expenses and loss
Fund management fee	194,502	190,024
General and administrative expenses	40,459	31,565
Professional fees	34,812	30,278
Operating expenses	269,773	251,867
NET INCOME (LOSS)	349,598	(246,031)
Net income (loss) allocated to general partner	3,496	(2,460)
Net income (loss) allocated to limited partners	$ 346,102	$ (243,571)
Net income (loss) per BAC	$ 0.1	$ (0.07)
Series Forty Four [Member]
Income
Interest income	$ 158	$ 36
Miscellaneous	18,760	16,818
Revenues	18,918	16,854
Gain on sale of operating limited partnerships	0	0
Expenses and loss
Fund management fee	203,181	206,172
General and administrative expenses	18,000	25,049
Professional fees	25,541	17,150
Operating expenses	246,722	248,371
NET INCOME (LOSS)	(227,804)	(231,517)
Net income (loss) allocated to general partner	(2,278)	(2,315)
Net income (loss) allocated to limited partners	$ (225,526)	$ (229,202)
Net income (loss) per BAC	$ (0.08)	$ (0.09)
Series Forty Five [Member]
Income
Interest income	$ 2,590	$ 1,204
Miscellaneous	47,297	53,785
Revenues	49,887	54,989
Gain on sale of operating limited partnerships	0	0
Expenses and loss
Fund management fee	252,328	223,161
General and administrative expenses	24,850	35,365
Professional fees	48,825	40,737
Operating expenses	326,003	299,263
NET INCOME (LOSS)	(276,116)	(244,274)
Net income (loss) allocated to general partner	(2,761)	(2,443)
Net income (loss) allocated to limited partners	$ (273,355)	$ (241,831)
Net income (loss) per BAC	$ (0.07)	$ (0.06)
Series Forty Six [Member]
Income
Interest income	$ 1,765	$ 480
Miscellaneous	41,516	36,424
Revenues	43,281	36,904
Gain on sale of operating limited partnerships	10,994	393,183
Expenses and loss
Fund management fee	182,530	207,609
General and administrative expenses	19,880	28,121
Professional fees	21,614	22,589
Operating expenses	224,024	258,319
NET INCOME (LOSS)	(169,749)	171,768
Net income (loss) allocated to general partner	(1,697)	1,718
Net income (loss) allocated to limited partners	$ (168,052)	$ 170,050
Net income (loss) per BAC	$ (0.06)	$ 0.06

XML

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT) - USD ($)	Total	Limited Partners [Member]	General Partner [Member]	Series Twenty [Member]	Series Twenty [Member] Limited Partners [Member]	Series Twenty [Member] General Partner [Member]	Series Twenty One [Member]	Series Twenty One [Member] Limited Partners [Member]	Series Twenty One [Member] General Partner [Member]	Series Twenty Two [Member]	Series Twenty Two [Member] Limited Partners [Member]	Series Twenty Two [Member] General Partner [Member]	Series Twenty Three [Member]	Series Twenty Three [Member] Limited Partners [Member]	Series Twenty Three [Member] General Partner [Member]	Series Twenty Four [Member]	Series Twenty Four [Member] Limited Partners [Member]	Series Twenty Four [Member] General Partner [Member]	Series Twenty Five [Member]	Series Twenty Five [Member] Limited Partners [Member]	Series Twenty Five [Member] General Partner [Member]	Series Twenty Six [Member]	Series Twenty Six [Member] Limited Partners [Member]	Series Twenty Six [Member] General Partner [Member]	Series Twenty Seven [Member]	Series Twenty Seven [Member] Limited Partners [Member]	Series Twenty Seven [Member] General Partner [Member]	Series Twenty Eight [Member]	Series Twenty Eight [Member] Limited Partners [Member]	Series Twenty Eight [Member] General Partner [Member]	Series Twenty Nine [Member]	Series Twenty Nine [Member] Limited Partners [Member]	Series Twenty Nine [Member] General Partner [Member]	Series Thirty [Member]	Series Thirty [Member] Limited Partners [Member]	Series Thirty [Member] General Partner [Member]	Series Thirty One [Member]	Series Thirty One [Member] Limited Partners [Member]	Series Thirty One [Member] General Partner [Member]	Series Thirty Two [Member]	Series Thirty Two [Member] Limited Partners [Member]	Series Thirty Two [Member] General Partner [Member]	Series Thirty Three [Member]	Series Thirty Three [Member] Limited Partners [Member]	Series Thirty Three [Member] General Partner [Member]	Series Thirty Four [Member]	Series Thirty Four [Member] Limited Partners [Member]	Series Thirty Four [Member] General Partner [Member]	Series Thirty Five [Member]	Series Thirty Five [Member] Limited Partners [Member]	Series Thirty Five [Member] General Partner [Member]	Series Thirty Six [Member]	Series Thirty Six [Member] Limited Partners [Member]	Series Thirty Six [Member] General Partner [Member]	Series Thirty Seven [Member]	Series Thirty Seven [Member] Limited Partners [Member]	Series Thirty Seven [Member] General Partner [Member]	Series Thirty Eight [Member]	Series Thirty Eight [Member] Limited Partners [Member]	Series Thirty Eight [Member] General Partner [Member]	Series Thirty Nine [Member]	Series Thirty Nine [Member] Limited Partners [Member]	Series Thirty Nine [Member] General Partner [Member]	Series Forty [Member]	Series Forty [Member] Limited Partners [Member]	Series Forty [Member] General Partner [Member]	Series Forty One [Member]	Series Forty One [Member] Limited Partners [Member]	Series Forty One [Member] General Partner [Member]	Series Forty Two [Member]	Series Forty Two [Member] Limited Partners [Member]	Series Forty Two [Member] General Partner [Member]	Series Forty Three [Member]	Series Forty Three [Member] Limited Partners [Member]	Series Forty Three [Member] General Partner [Member]	Series Forty Four [Member]	Series Forty Four [Member] Limited Partners [Member]	Series Forty Four [Member] General Partner [Member]	Series Forty Five [Member]	Series Forty Five [Member] Limited Partners [Member]	Series Forty Five [Member] General Partner [Member]	Series Forty Six [Member]	Series Forty Six [Member] Limited Partners [Member]	Series Forty Six [Member] General Partner [Member]
Partners' capital (deficit), Beginning balance at Mar. 31, 2016	$ (28,619,101)	$ (21,290,383)	$ (7,328,718)	$ (1,261,163)	$ (940,299)	$ (320,864)	$ (1,035,197)	$ (862,894)	$ (172,303)	$ (2,524,039)	$ (2,279,715)	$ (244,324)	$ (1,832,635)	$ (1,529,462)	$ (303,173)	$ 502,552	$ 676,778	$ (174,226)	$ 397,047	$ 616,693	$ (219,646)	$ 804,402	$ 1,114,701	$ (310,299)	$ 899,636	$ 1,097,087	$ (197,451)	$ 876,927	$ 1,149,995	$ (273,068)	$ (2,967,982)	$ (2,599,655)	$ (368,327)	$ (1,373,138)	$ (1,132,351)	$ (240,787)	$ 1,307,467	$ 1,673,651	$ (366,184)	$ (2,312,599)	$ (1,883,110)	$ (429,489)	$ (827,935)	$ (593,876)	$ (234,059)	$ (2,929,261)	$ (2,599,579)	$ (329,682)	$ (801,012)	$ (510,977)	$ (290,035)	$ (446,696)	$ (263,566)	$ (183,130)	$ (2,299,156)	$ (2,060,600)	$ (238,556)	$ (1,691,937)	$ (1,456,733)	$ (235,204)	$ (1,466,416)	$ (1,255,309)	$ (211,107)	$ (2,356,713)	$ (2,108,202)	$ (248,511)	$ (2,829,516)	$ (2,552,052)	$ (277,464)	$ 1,272,077	$ 1,500,294	$ (228,217)	$ (190,876)	$ 132,554	$ (323,430)	$ (2,286,800)	$ (2,026,484)	$ (260,316)	$ (1,842,316)	$ (1,470,231)	$ (372,085)	$ (1,403,822)	$ (1,127,041)	$ (276,781)
Net income (loss)	15,103,290	14,952,257	151,033	65,321	64,668	653	(44,938)	(44,489)	(449)	(72,794)	(72,066)	(728)	402,128	398,107	4,021	(75,371)	(74,617)	(754)	(51,336)	(50,823)	(513)	(126,723)	(125,456)	(1,267)	2,675,164	2,648,412	26,752	(64,444)	(63,800)	(644)	(173,797)	(172,059)	(1,738)	(103,851)	(102,812)	(1,039)	698,887	691,898	6,989	374,024	370,284	3,740	(94,282)	(93,339)	(943)	556,742	551,175	5,567	2,641,797	2,615,379	26,418	2,482,508	2,457,683	24,825	2,213,042	2,190,912	22,130	3,212,273	3,180,150	32,123	1,554,531	1,538,986	15,545	(79,129)	(78,338)	(791)	(137,219)	(135,847)	(1,372)	(199,189)	(197,197)	(1,992)	(246,031)	(243,571)	(2,460)	(231,517)	(229,202)	(2,315)	(244,274)	(241,831)	(2,443)	171,768	170,050	1,718
Partners' capital (deficit), Ending balance at Mar. 31, 2017	(13,515,811)	(6,338,126)	(7,177,685)	(1,195,842)	(875,631)	(320,211)	(1,080,135)	(907,383)	(172,752)	(2,596,833)	(2,351,781)	(245,052)	(1,430,507)	(1,131,355)	(299,152)	427,181	602,161	(174,980)	345,711	565,870	(220,159)	677,679	989,245	(311,566)	3,574,800	3,745,499	(170,699)	812,483	1,086,195	(273,712)	(3,141,779)	(2,771,714)	(370,065)	(1,476,989)	(1,235,163)	(241,826)	2,006,354	2,365,549	(359,195)	(1,938,575)	(1,512,826)	(425,749)	(922,217)	(687,215)	(235,002)	(2,372,519)	(2,048,404)	(324,115)	1,840,785	2,104,402	(263,617)	2,035,812	2,194,117	(158,305)	(86,114)	130,312	(216,426)	1,520,336	1,723,417	(203,081)	88,115	283,677	(195,562)	(2,435,842)	(2,186,540)	(249,302)	(2,966,735)	(2,687,899)	(278,836)	1,072,888	1,303,097	(230,209)	(436,907)	(111,017)	(325,890)	(2,518,317)	(2,255,686)	(262,631)	(2,086,590)	(1,712,062)	(374,528)	(1,232,054)	(956,991)	(275,063)
Contributions	1,070,891	0	1,070,891	0	0	0	1,070,891	0	1,070,891	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Distributions	(420,163)	(420,163)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(380,117)	(380,117)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(40,046)	(40,046)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net income (loss)	9,787,196	9,689,324	97,872	(6,894)	(6,825)	(69)	9,244	9,152	92	(59,412)	(58,818)	(594)	943,256	933,823	9,433	21,331	21,118	213	34,406	34,062	344	(35,421)	(35,067)	(354)	3,225,133	3,192,882	32,251	(69,919)	(69,220)	(699)	203,747	201,710	2,037	240,789	238,381	2,408	(75,968)	(75,208)	(760)	1,576,107	1,560,346	15,761	121,295	120,082	1,213	(73,012)	(72,282)	(730)	2,587,521	2,561,646	25,875	(60,762)	(60,154)	(608)	90,852	89,943	909	(46,425)	(45,961)	(464)	(48,069)	(47,588)	(481)	454,012	449,472	4,540	814,281	806,138	8,143	265,175	262,523	2,652	349,598	346,102	3,496	(227,804)	(225,526)	(2,278)	(276,116)	(273,355)	(2,761)	(169,749)	(168,052)	(1,697)
Partners' capital (deficit), Ending balance at Mar. 31, 2018	$ (3,077,887)	$ 2,931,035	$ (6,008,922)	$ (1,202,736)	$ (882,456)	$ (320,280)	$ 0	$ (898,231)	$ 898,231	$ (2,656,245)	$ (2,410,599)	$ (245,646)	$ (487,251)	$ (197,532)	$ (289,719)	$ 448,512	$ 623,279	$ (174,767)	$ 0	$ 219,815	$ (219,815)	$ 642,258	$ 954,178	$ (311,920)	$ 6,799,933	$ 6,938,381	$ (138,448)	$ 742,564	$ 1,016,975	$ (274,411)	$ (2,938,032)	$ (2,570,004)	$ (368,028)	$ (1,236,200)	$ (996,782)	$ (239,418)	$ 1,930,386	$ 2,290,341	$ (359,955)	$ (362,468)	$ 47,520	$ (409,988)	$ (800,922)	$ (567,133)	$ (233,789)	$ (2,445,531)	$ (2,120,686)	$ (324,845)	$ 4,428,306	$ 4,666,048	$ (237,742)	$ 1,975,050	$ 2,133,963	$ (158,913)	$ 4,738	$ 220,255	$ (215,517)	$ 1,473,911	$ 1,677,456	$ (203,545)	$ 0	$ 196,043	$ (196,043)	$ (1,981,830)	$ (1,737,068)	$ (244,762)	$ (2,152,454)	$ (1,881,761)	$ (270,693)	$ 1,338,063	$ 1,565,620	$ (227,557)	$ (87,309)	$ 235,085	$ (322,394)	$ (2,746,121)	$ (2,481,212)	$ (264,909)	$ (2,362,706)	$ (1,985,417)	$ (377,289)	$ (1,401,803)	$ (1,125,043)	$ (276,760)

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STATEMENTS OF CASH FLOWS - USD ($)		12 Months Ended
		Mar. 31, 2018		Mar. 31, 2017
Cash flows from operating activities
Net income (loss)		$ 9,787,196		$ 15,103,290
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(12,575,304)		(18,806,644)
Changes in assets and liabilities
Other assets		20,124		0
Accounts payable and accrued expenses		(42,759)		11,626
Accounts payable - affiliates		(9,071,662)		(9,632,988)
Net cash provided by (used in) operating activities		(11,882,405)		(13,324,716)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		(19,011)		0
Proceeds from disposition of operating limited partnerships	[1]	12,320,299		18,806,644
Net cash provided by (used in) investing activities		12,301,288		18,806,644
Cash flows from financing activities
Distributions		(420,163)		0
Net cash used in financing activities		(420,163)		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,280)		5,481,928
Cash and cash equivalents, beginning		27,209,997		21,728,069
Cash and cash equivalents, ending		27,208,717		27,209,997
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		1,070,891		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		127,351		0
Series Twenty [Member]
Cash flows from operating activities
Net income (loss)		(6,894)		65,321
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(42,000)		(138,000)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		(22,179)		24,843
Net cash provided by (used in) operating activities		(71,073)		(47,836)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	42,000		138,000
Net cash provided by (used in) investing activities		42,000		138,000
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(29,073)		90,164
Cash and cash equivalents, beginning		271,060		180,896
Cash and cash equivalents, ending		241,987		271,060
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Twenty One [Member]
Cash flows from operating activities
Net income (loss)		9,244		(44,938)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(67,000)		0
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		(250,346)		(139,128)
Net cash provided by (used in) operating activities		(308,102)		(184,066)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		67,000	[1]	0
Net cash provided by (used in) investing activities		67,000		0
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(241,102)		(184,066)
Cash and cash equivalents, beginning		241,102		425,168
Cash and cash equivalents, ending		0		241,102
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		1,070,891		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Twenty Two [Member]
Cash flows from operating activities
Net income (loss)		(59,412)		(72,794)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		0		0
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		29,212		29,208
Net cash provided by (used in) operating activities		(30,200)		(43,586)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		0		0
Net cash provided by (used in) investing activities		0		0
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(30,200)		(43,586)
Cash and cash equivalents, beginning		252,064		295,650
Cash and cash equivalents, ending		221,864		252,064
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Twenty Three [Member]
Cash flows from operating activities
Net income (loss)		943,256		402,128
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(989,962)		(488,550)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		(1,156,287)		37,362
Net cash provided by (used in) operating activities		(1,202,993)		(49,060)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	989,962		488,550
Net cash provided by (used in) investing activities		989,962		488,550
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(213,031)		439,490
Cash and cash equivalents, beginning		659,167		219,677
Cash and cash equivalents, ending		446,136		659,167
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Twenty Four [Member]
Cash flows from operating activities
Net income (loss)		21,331		(75,371)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(95,000)		0
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		5,000		0
Accounts payable - affiliates		0		0
Net cash provided by (used in) operating activities		(68,669)		(75,371)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		95,000	[1]	0
Net cash provided by (used in) investing activities		95,000		0
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		26,331		(75,371)
Cash and cash equivalents, beginning		427,181		502,552
Cash and cash equivalents, ending		453,512		427,181
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Twenty Five [Member]
Cash flows from operating activities
Net income (loss)		34,406		(51,336)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(97,399)		0
Changes in assets and liabilities
Other assets		1,250		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		0		0
Net cash provided by (used in) operating activities		(61,743)		(51,336)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		97,399	[1]	0
Net cash provided by (used in) investing activities		97,399		0
Cash flows from financing activities
Distributions		(380,117)		0
Net cash used in financing activities		(380,117)		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(344,461)		(51,336)
Cash and cash equivalents, beginning		344,461		395,797
Cash and cash equivalents, ending		0		344,461
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Twenty Six [Member]
Cash flows from operating activities
Net income (loss)		(35,421)		(126,723)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(80,000)		(18,500)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		(4,960)
Accounts payable - affiliates		0		0
Net cash provided by (used in) operating activities		(115,421)		(150,183)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	80,000		18,500
Net cash provided by (used in) investing activities		80,000		18,500
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(35,421)		(131,683)
Cash and cash equivalents, beginning		677,679		809,362
Cash and cash equivalents, ending		642,258		677,679
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Twenty Seven [Member]
Cash flows from operating activities
Net income (loss)		3,225,133		2,675,164
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(3,291,567)		(3,016,000)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		(31,673)		31,673
Accounts payable - affiliates		0		0
Net cash provided by (used in) operating activities		(98,107)		(309,163)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	3,291,567		3,016,000
Net cash provided by (used in) investing activities		3,291,567		3,016,000
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		3,193,460		2,706,837
Cash and cash equivalents, beginning		3,606,473		899,636
Cash and cash equivalents, ending		6,799,933		3,606,473
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Twenty Eight [Member]
Cash flows from operating activities
Net income (loss)		(69,919)		(64,444)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		0		(5,000)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		(7,500)
Accounts payable - affiliates		0		0
Net cash provided by (used in) operating activities		(69,919)		(76,944)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		0		5,000	[1]
Net cash provided by (used in) investing activities		0		5,000
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(69,919)		(71,944)
Cash and cash equivalents, beginning		812,483		884,427
Cash and cash equivalents, ending		742,564		812,483
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Twenty Nine [Member]
Cash flows from operating activities
Net income (loss)		203,747		(173,797)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(303,958)		0
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		80,369		(99,313)
Net cash provided by (used in) operating activities		(19,842)		(273,110)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		296,608	[1]	0
Net cash provided by (used in) investing activities		296,608		0
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		276,766		(273,110)
Cash and cash equivalents, beginning		345,648		618,758
Cash and cash equivalents, ending		622,414		345,648
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Thirty [Member]
Cash flows from operating activities
Net income (loss)		240,789		(103,851)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(276,484)		0
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		3,500		0
Accounts payable - affiliates		(21,019)		69,684
Net cash provided by (used in) operating activities		(53,214)		(34,167)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		236,521	[1]	0
Net cash provided by (used in) investing activities		236,521		0
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		183,307		(34,167)
Cash and cash equivalents, beginning		270,126		304,293
Cash and cash equivalents, ending		453,433		270,126
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Thirty One [Member]
Cash flows from operating activities
Net income (loss)		(75,968)		698,887
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(45,000)		(877,411)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		(3,000)
Accounts payable - affiliates		0		0
Net cash provided by (used in) operating activities		(120,968)		(181,524)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	45,000		877,411
Net cash provided by (used in) investing activities		45,000		877,411
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(75,968)		695,887
Cash and cash equivalents, beginning		2,047,648		1,351,761
Cash and cash equivalents, ending		1,971,680		2,047,648
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Thirty Two [Member]
Cash flows from operating activities
Net income (loss)		1,576,107		374,024
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(1,677,252)		(569,552)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		(2,000)		(5,000)
Accounts payable - affiliates		(1,847,595)		(593,524)
Net cash provided by (used in) operating activities		(1,950,740)		(794,052)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	1,677,252		569,552
Net cash provided by (used in) investing activities		1,677,252		569,552
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(273,488)		(224,500)
Cash and cash equivalents, beginning		837,185		1,061,685
Cash and cash equivalents, ending		563,697		837,185
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Thirty Three [Member]
Cash flows from operating activities
Net income (loss)		121,295		(94,282)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(177,044)		0
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		62,127		(834,408)
Net cash provided by (used in) operating activities		6,378		(928,690)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		107,890	[1]	0
Net cash provided by (used in) investing activities		107,890		0
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		114,268		(928,690)
Cash and cash equivalents, beginning		337,765		1,266,455
Cash and cash equivalents, ending		452,033		337,765
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Thirty Four [Member]
Cash flows from operating activities
Net income (loss)		(73,012)		556,742
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		0		(630,691)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		(381,229)		(381,837)
Net cash provided by (used in) operating activities		(454,241)		(455,786)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		0		630,691	[1]
Net cash provided by (used in) investing activities		0		630,691
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(454,241)		174,905
Cash and cash equivalents, beginning		849,078		674,173
Cash and cash equivalents, ending		394,837		849,078
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Thirty Five [Member]
Cash flows from operating activities
Net income (loss)		2,587,521		2,641,797
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(2,653,528)		(2,720,765)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		(551,982)		(1,942,253)
Net cash provided by (used in) operating activities		(617,989)		(2,021,221)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	2,653,528		2,720,765
Net cash provided by (used in) investing activities		2,653,528		2,720,765
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		2,035,539		699,544
Cash and cash equivalents, beginning		2,392,767		1,693,223
Cash and cash equivalents, ending		4,428,306		2,392,767
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Thirty Six [Member]
Cash flows from operating activities
Net income (loss)		(60,762)		2,482,508
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		0		(2,515,373)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		(2,500)
Accounts payable - affiliates		(767,505)		(525,031)
Net cash provided by (used in) operating activities		(828,267)		(560,396)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		0		2,515,373	[1]
Net cash provided by (used in) investing activities		0		2,515,373
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(828,267)		1,954,977
Cash and cash equivalents, beginning		2,934,317		979,340
Cash and cash equivalents, ending		2,106,050		2,934,317
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Thirty Seven [Member]
Cash flows from operating activities
Net income (loss)		90,852		2,213,042
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(140,415)		(2,349,732)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		(1,530,566)		(457,692)
Net cash provided by (used in) operating activities		(1,580,129)		(594,382)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	1,977		2,349,732
Net cash provided by (used in) investing activities		1,977		2,349,732
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,578,152)		1,755,350
Cash and cash equivalents, beginning		2,096,039		340,689
Cash and cash equivalents, ending		517,887		2,096,039
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Thirty Eight [Member]
Cash flows from operating activities
Net income (loss)		(46,425)		3,212,273
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		0		(3,273,698)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		(6,543)		1,764
Accounts payable - affiliates		(1,497,751)		(504,647)
Net cash provided by (used in) operating activities		(1,550,719)		(564,308)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		0		3,273,698	[1]
Net cash provided by (used in) investing activities		0		3,273,698
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,550,719)		2,709,390
Cash and cash equivalents, beginning		3,042,864		333,474
Cash and cash equivalents, ending		1,492,145		3,042,864
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Thirty Nine [Member]
Cash flows from operating activities
Net income (loss)		(48,069)		1,554,531
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(17,779)		(1,645,989)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		(6,543)		1,649
Accounts payable - affiliates		(1,154,240)		(620,973)
Net cash provided by (used in) operating activities		(1,226,631)		(710,782)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	17,779		1,645,989
Net cash provided by (used in) investing activities		17,779		1,645,989
Cash flows from financing activities
Distributions		(40,046)		0
Net cash used in financing activities		(40,046)		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,248,898)		935,207
Cash and cash equivalents, beginning		1,248,898		313,691
Cash and cash equivalents, ending		0		1,248,898
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Forty [Member]
Cash flows from operating activities
Net income (loss)		454,012		(79,129)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(588,952)		(93,700)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		(5,000)
Accounts payable - affiliates		(270,989)		(178,258)
Net cash provided by (used in) operating activities		(405,929)		(356,087)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	588,952		93,700
Net cash provided by (used in) investing activities		588,952		93,700
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		183,023		(262,387)
Cash and cash equivalents, beginning		248,318		510,705
Cash and cash equivalents, ending		431,341		248,318
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Forty One [Member]
Cash flows from operating activities
Net income (loss)		814,281		(137,219)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(1,026,859)		(70,500)
Changes in assets and liabilities
Other assets		1,218		0
Accounts payable and accrued expenses		(4,500)		4,500
Accounts payable - affiliates		(392,649)		124,592
Net cash provided by (used in) operating activities		(608,509)		(78,627)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	1,026,759		70,500
Net cash provided by (used in) investing activities		1,026,759		70,500
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		418,250		(8,127)
Cash and cash equivalents, beginning		322,902		331,029
Cash and cash equivalents, ending		741,152		322,902
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Forty Two [Member]
Cash flows from operating activities
Net income (loss)		265,175		(199,189)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(427,305)		0
Changes in assets and liabilities
Other assets		(1,183)		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		0		(2,141,040)
Net cash provided by (used in) operating activities		(163,313)		(2,340,229)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		(9,503)		0
Proceeds from disposition of operating limited partnerships		427,305		0
Net cash provided by (used in) investing activities		417,802		0
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		254,489		(2,340,229)
Cash and cash equivalents, beginning		1,072,528		3,412,757
Cash and cash equivalents, ending		1,327,017		1,072,528
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		63,676		0
Series Forty Three [Member]
Cash flows from operating activities
Net income (loss)		349,598		(246,031)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(566,806)		0
Changes in assets and liabilities
Other assets		18,839		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		143,797		(2,289,322)
Net cash provided by (used in) operating activities		(54,572)		(2,535,353)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		(9,508)		0
Proceeds from disposition of operating limited partnerships		566,806	[1]	0
Net cash provided by (used in) investing activities		557,298		0
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		502,726		(2,535,353)
Cash and cash equivalents, beginning		351,638		2,886,991
Cash and cash equivalents, ending		854,364		351,638
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		63,675		0
Series Forty Four [Member]
Cash flows from operating activities
Net income (loss)		(227,804)		(231,517)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		0		0
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		245,486		253,338
Net cash provided by (used in) operating activities		17,682		21,821
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships		0		0	[1]
Net cash provided by (used in) investing activities		0		0
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		17,682		21,821
Cash and cash equivalents, beginning		66,324		44,503
Cash and cash equivalents, ending		84,006		66,324
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Forty Five [Member]
Cash flows from operating activities
Net income (loss)		(276,116)		(244,274)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		0		0
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		226,665		299,327
Net cash provided by (used in) operating activities		(49,451)		55,053
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	0		0
Net cash provided by (used in) investing activities		0		0
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(49,451)		55,053
Cash and cash equivalents, beginning		803,153		748,100
Cash and cash equivalents, ending		753,702		803,153
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		0		0
Series Forty Six [Member]
Cash flows from operating activities
Net income (loss)		(169,749)		171,768
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(10,994)		(393,183)
Changes in assets and liabilities
Other assets		0		0
Accounts payable and accrued expenses		0		0
Accounts payable - affiliates		(14,981)		236,084
Net cash provided by (used in) operating activities		(195,724)		14,669
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		0		0
Proceeds from disposition of operating limited partnerships	[1]	10,994		393,183
Net cash provided by (used in) investing activities		10,994		393,183
Cash flows from financing activities
Distributions		0		0
Net cash used in financing activities		0		0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(184,730)		407,852
Cash and cash equivalents, beginning		651,129		243,277
Cash and cash equivalents, ending		466,399		651,129
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.		0		0
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.		$ 0		$ 0

[1] Partnership proceeds from disposition does not include $7,350, $39,963, $69,154, $138,438 and $100 which was due to a writeoff of capital contribution payable as of March 31, 2018, for Series 29, Series 30, Series 33, Series 37 and Series 41, respectively.

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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Boston Capital Tax Credit Fund IV L.P. (the Partnership or Fund) was organized under the laws of the State of Delaware as of October 5, 1993, for the purpose of acquiring, holding, and disposing of limited partnership interests in operating limited partnerships which acquire, develop, rehabilitate, operate and own newly-constructed, existing or rehabilitated apartment complexes which qualify for the Low-Income Housing Tax Credit established by the Tax Reform Act of 1986. Accordingly, the apartment complexes are restricted as to rent charges and operating methods. Certain of the apartment complexes may also qualify for the Historic Rehabilitation Tax Credit for their rehabilitation of certified historic structures and are subject to the provisions of the Internal Revenue Code relating to the Rehabilitation Investment Credit. The general partner of the fund is Boston Capital Associates IV L.P. and the limited partner is BCTC IV Assignor Corp. (the assignor limited partner).

In accordance with the limited partnership agreement, profits, losses, and cash flow (subject to certain priority allocations and distributions) and tax credits are allocated 99% to the assignees and 1% to the general partner.

Pursuant to the Securities Act of 1933, the fund filed a Form S-11 Registration Statement with the Securities and Exchange Commission, effective December 16, 1993, which covered the offering (the Public Offering) of the beneficial assignee certificates (BACs) representing assignments of units of the beneficial interest of the limited partnership interest of the assignor limited partner. The fund has registered 101,500,000 BACs at $10 per BAC for sale to the public in one or more series. BACs sold in bulk are offered to investors at a reduced cost per BAC.

The BACs issued and outstanding in each series as of March 31, 2018 and 2017 are as follows:

	Issued				Outstanding
	2018		2017		2018		2017
Series 20		3,866,700		3,866,700		3,829,200		3,833,200
Series 21		1,892,700		1,892,700		1,879,500		1,879,500
Series 22		2,564,400		2,564,400		2,550,645		2,557,045
Series 23		3,336,727		3,336,727		3,303,327		3,314,827
Series 24		2,169,878		2,169,878		2,152,753		2,154,253
Series 25		3,026,109		3,026,109		3,016,809		3,016,809
Series 26		3,995,900		3,995,900		3,965,400		3,977,000
Series 27		2,460,700		2,460,700		2,443,900		2,446,400
Series 28		4,000,738		4,000,738		3,984,138		3,990,738
Series 29		3,991,800		3,991,800		3,955,225		3,965,300
Series 30		2,651,000		2,651,000		2,621,200		2,631,000
Series 31		4,417,857		4,417,857		4,382,757		4,395,557
Series 32		4,754,198		4,754,198		4,736,198		4,740,198
Series 33		2,636,533		2,636,533		2,626,533		2,626,533
Series 34		3,529,319		3,529,319		3,509,919		3,517,419
Series 35		3,300,463		3,300,463		3,279,913		3,288,363
Series 36		2,106,838		2,106,838		2,092,704		2,095,704
Series 37		2,512,500		2,512,500		2,489,100		2,495,600
Series 38		2,543,100		2,543,100		2,538,700		2,540,100
Series 39		2,292,151		2,292,151		2,288,351		2,288,351
Series 40		2,630,256		2,630,256		2,621,756		2,622,756
Series 41		2,891,626		2,891,626		2,874,926		2,884,126
Series 42		2,744,262		2,744,262		2,732,262		2,736,262
Series 43		3,637,987		3,637,987		3,629,487		3,632,487
Series 44		2,701,973		2,701,973		2,693,973		2,699,473
Series 45		4,014,367		4,014,367		4,008,167		4,009,667
Series 46		2,980,998		2,980,998		2,968,635		2,971,998
		83,651,080		83,651,080		83,175,478		83,310,666

Investments in Operating Limited Partnerships

The Fund accounts for its investments in operating limited partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each operating limited partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes the individual operating limited partnership’s losses only to the extent that the Fund’s share of losses from the operating limited partnerships does not exceed the carrying amount of its investment and its advances to operating limited partnerships. Unrecognized losses are suspended and offset against future individual operating limited partnership income.

After the investment account is reduced to zero, receivables due from the operating limited partnerships are decreased by the partnership’s share of losses and, accordingly, a valuation allowance is recorded against the receivables. Accordingly, the Fund recorded a valuation allowance of $401,577 and $401,660 as of March 31, 2018 and 2017, respectively.

The Fund reviews its investment in operating limited partnerships for impairment whenever events or changes in circumstances indicate that the carrying amount of such investments may not be recoverable. Recoverability is measured by a comparison of the carrying amount of the investment to the sum of the total amount of the remaining tax credits and the estimated residual value of the investment. The Fund also evaluates its intangibles for impairment in connection with its investments in operating limited partnerships. No impairment losses have been recognized for the years ended March 31, 2018 and 2017.

Capital contributions to operating limited partnerships are adjusted by tax credit adjusters. Tax credit adjusters are defined as adjustments to operating limited partnership capital contributions due to reductions in actual tax credits from those originally projected. The Fund records tax credit adjusters as a reduction in investments in operating limited partnerships and capital contributions payable.

The operating limited partnerships maintain their financial statements based on a calendar year and the fund utilizes a March 31 year end. The Fund records losses and income from the operating limited partnerships on a calendar year basis which is not materially different from losses and income generated if the operating limited partnerships utilized a March 31 year end.

The Fund records capital contributions payable to the operating limited partnerships once there is a binding obligation to fund a specified amount. The operating limited partnerships record capital contributions from the fund when received.

Prior to January 1, 1999, the Fund recorded acquisition costs as an increase in its investments in operating limited partnerships. These costs were amortized by the operating limited partnerships over 27.5 years on the straight-line method. Certain operating limited partnerships have not recorded the acquisition costs as a capital contribution from the fund. These differences are shown as reconciling items in note C. As of January 1, 1999, the Fund records acquisition costs incurred after January 1, 1999 as deferred acquisition costs. These costs are amortized on the straight-line method.

In accordance with the accounting guidance for the consolidation of variable interest entities, the Fund determines when it should include the assets, liabilities, and activities of a variable interest entity (VIE) in its financial statements, and when it should disclose information about its relationship with a VIE. A VIE is a legal structure used to conduct activities or hold assets, which must be consolidated by a company if it is the primary beneficiary because it has (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (2) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. If multiple unrelated parties share such power, as defined, no party is required to consolidate the VIE.

The Fund determines whether an entity is a VIE and whether it is the primary beneficiary at the date of initial involvement with the entity. The Fund reassesses whether it is the primary beneficiary of a VIE on an ongoing basis based on changes in facts and circumstances. In determining whether it is the primary beneficiary, the Partnership considers the purpose and activities of the VIE, including the variability and related risks the VIE incurs and transfers to other entities and their related parties. These factors are considered in determining whether the Fund has the power to direct activities of the VIE that most significantly impact the VIE’s economic performance and whether the Fund also has the obligation to absorb losses of or receive benefits from the VIE that could be potentially significant to the VIE. If the Fund determines that it is the primary beneficiary of the VIE, the VIE is consolidated within the Partnership’s financial statements.

Based on this guidance, the operating limited partnerships in which the Fund invests meet the definition of a VIE. However, management does not consolidate the Fund’s interests in these VIEs under this guidance, as it is not considered to be the primary beneficiary. The Fund currently records the amount of its investment in these operating limited partnerships as an asset on its balance sheets, recognizes its share of the operating limited partnership income or losses in the statements of operations, and discloses how it accounts for material types of these investments in its financial statements. The Fund’s balance in investment in operating limited partnerships, advances to operating limited partnerships, plus the risk of recapture of tax credits previously recognized on these investments, represents its maximum exposure to loss. The Fund’s exposure to loss on these operating limited partnerships is mitigated by the condition and financial performance of the underlying properties as well as the strength of the operating limited partnerships' general partners and their guarantee against credit recapture.

Income Taxes

The Fund has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The funds’s federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Fund has no other tax positions which must be considered for disclosure. Income tax returns filed by the Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2014 remain open.

Cash and Cash Equivalents

Cash equivalents include money market accounts having original maturities at date of acquisition of three months or less. The carrying value approximates fair value because of the short maturity of these instruments.

Fiscal Year

For financial reporting purposes, the fund uses a March 31 year end, whereas for income tax reporting purposes, the fund uses a calendar year. The operating limited partnerships use a calendar year for both financial and income tax reporting.

Net Loss Per Beneficial Assignee Certificate Unit

Net loss per beneficial assignee certificate unit is calculated based upon the weighted average number of units outstanding during the year or period. The weighted average number of units in each series at March 31, 2018 and 2017 are as follows:

	2018		2017
Series 20		3,832,200		3,840,925
Series 21		1,879,500		1,880,625
Series 22		2,555,445		2,559,111
Series 23		3,311,952		3,321,202
Series 24		2,153,878		2,157,722
Series 25		3,016,809		3,019,434
Series 26		3,974,100		3,981,950
Series 27		2,445,775		2,451,725
Series 28		3,989,088		3,993,363
Series 29		3,962,781		3,976,625
Series 30		2,628,550		2,634,750
Series 31		4,392,357		4,396,307
Series 32		4,739,198		4,740,573
Series 33		2,626,533		2,627,658
Series 34		3,515,544		3,521,619
Series 35		3,286,251		3,292,413
Series 36		2,094,954		2,097,579
Series 37		2,493,975		2,504,525
Series 38		2,539,750		2,540,100
Series 39		2,288,351		2,289,701
Series 40		2,622,506		2,623,506
Series 41		2,881,826		2,889,751
Series 42		2,735,262		2,736,262
Series 43		3,631,737		3,636,612
Series 44		2,698,098		2,699,848
Series 45		4,009,292		4,013,192
Series 46		2,971,157		2,971,998
		83,276,869		83,399,076

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

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RELATED PARTY TRANSACTIONS

12 Months Ended

Mar. 31, 2018

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE B - RELATED PARTY TRANSACTIONS

During the years ended March 31, 2018 and 2017, the Fund entered into several transactions with various affiliates of the general partner, including Boston Capital Partners, Inc. (BCP), Boston Capital Services, Inc. (BCS), Boston Capital Holdings Limited Partnership (BCHLP) and Boston Capital Asset Management Limited Partnership (BCAM), as follows:

The Fund incurred a fund management fee to Boston Capital Asset Management Limited Partnership in an amount equal to .5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of various asset management and reporting fees paid by the Operating Partnerships. The fund management fees net of reporting fees incurred and the reporting fees paid by the Operating Partnerships for the years ended March 31, 2018 and 2017, are as follows:

			2018
					Fund Management Fee
	Gross Fund		Asset Management		net of Asset Management
	Management Fee		and Reporting Fee		and Reporting Fee
Series 20	$	19,821	$	2,617	$	17,204
Series 21		7,654		2,051		5,603
Series 22		29,212		1,100		28,112
Series 23		22,224		1,750		20,474
Series 24		50,352		4,669		45,683
Series 25		11,374		1,692		9,682
Series 26		76,308		3,841		72,467
Series 27		41,073		10,760		30,313
Series 28		35,376		2,000		33,376
Series 29		80,369		19,387		60,982
Series 30		54,481		50,954		3,527
Series 31		81,582		1,500		80,082
Series 32		99,208		19,500		79,708
Series 33		63,077		32,340		30,737
Series 34		49,462		6,200		43,262
Series 35		56,268		8,859		47,409
Series 36		30,504		1,910		28,594
Series 37		46,143		8,018		38,125
Series 38		72,936		10,700		62,236
Series 39		5,130		-		5,130
Series 40		111,663		11,475		100,188
Series 41		197,680		13,663		184,017
Series 42		158,605		23,102		135,503
Series 43		219,297		24,795		194,502
Series 44		231,301		28,120		203,181
Series 45		281,324		28,996		252,328
Series 46		209,196		26,666		182,530
	$	2,341,620	$	346,665	$	1,994,955

			2017
					Fund Management Fee
					net of Asset
	Gross Fund		Asset Management		Management and
	Management Fee		and Reporting Fee		Reporting Fee
Series 20	$	24,843	$	1,367	$	23,476
Series 21		10,872		2,051		8,821
Series 22		29,208		1,100		28,108
Series 23		37,362		5,080		32,282
Series 24		50,352		10,067		40,285
Series 25		23,736		7,360		16,376
Series 26		93,076		5,341		87,735
Series 27		116,442		16,630		99,812
Series 28		44,679		23,000		21,679
Series 29		82,187		7,655		74,532
Series 30		69,684		10,216		59,468
Series 31		134,262		13,000		121,262
Series 32		163,266		18,460		144,806
Series 33		65,592		8,670		56,922
Series 34		70,741		29,315		41,426
Series 35		93,350		49,903		43,447
Series 36		46,580		41,910		4,670
Series 37		117,308		10,518		106,790
Series 38		130,774		27,354		103,420
Series 39		56,801		4,200		52,601
Series 40		137,464		11,425		126,039
Series 41		224,592		27,952		196,640
Series 42		171,480		19,180		152,300
Series 43		230,772		40,748		190,024
Series 44		239,076		32,904		206,172
Series 45		282,759		59,598		223,161
Series 46		236,084		28,475		207,609
	$	2,983,342	$	513,479	$	2,469,863

All fund management fees will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the partnership's interests in operating limited partnerships. As of March 31, 2018 and 2017, total fund management fees accrued were $29,275,035 and $39,156,659, respectively.

The fund management fees paid for the years ended March 31, 2018 and 2017, are as follows:

	2018		2017
Series 20	$	42,000	$	-
Series 21		258,000		150,000
Series 22		-		-
Series 23		1,178,511		-
Series 24		50,352		50,352
Series 25		11,374		23,736
Series 26		76,308		93,076
Series 27		41,073		116,442
Series 28		35,376		44,679
Series 29		-		181,500
Series 30		75,500		-
Series 31		81,582		134,262
Series 32		1,946,803		756,790
Series 33		950		900,000
Series 34		430,691		319,000
Series 35		608,250		2,035,603
Series 36		798,009		571,611
Series 37		1,576,709		575,000
Series 38		1,570,687		635,421
Series 39		938,915		677,774
Series 40		382,652		315,722
Series 41		590,329		100,000
Series 42		158,605		2,312,520
Series 43		75,500		2,520,094
Series 44		-		-
Series 45		-		-
Series 46		224,177		-
	$	11,152,353	$	12,513,582

An affiliate of the general partner of the Fund has advanced funds to pay some operating expenses of the fund, and to make advances and/or loans to operating limited partnerships. These advances are included in accounts payable to affiliates. The total advances as of March 31, 2018 and 2017, are as follows:

	2018		2017
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		-		-
Series 30		-		-
Series 31		-		-
Series 32		-		-
Series 33		-		-
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		-
Series 38		-		-
Series 39		-		220,455
Series 40		-		-
Series 41		-		-
Series 42		-		-
Series 43		-		-
Series 44		220,238		206,053
Series 45		-		54,659
Series 46		-		-
	$	220,238	$	481,167

During the year ended March 31, 2018, $14,185 for Series 44 was advanced to the Fund by an affiliate of the general partner. In addition $220,455 for Series 39 and $54,659 for Series 45 was paid by the Fund to an affiliate of the general partner. During the year ended March 31, 2017, $14,262 and $16,568 for Series 44 and Series 45, respectively, was advanced to the Fund by an affiliate of the general partner. In addition $133,578 for Series 34 was paid by the Fund to an affiliate of the general partner. All payables to affiliates will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the Fund's interests in Operating Partnerships.

During the years ended March 31, 2018 and 2017, general and administrative expenses incurred by Boston Capital Partners, Inc., Boston Capital Holdings Limited Partnership and/or Boston Capital Asset Management Limited Partnership were charged to each series’ operations as follows:

	2018		2017
Series 20	$	15,347	$	16,622
Series 21		39,308		13,370
Series 22		13,968		14,832
Series 23		14,966		16,444
Series 24		14,181		14,350
Series 25		44,888		15,309
Series 26		16,807		18,547
Series 27		13,862		40,226
Series 28		15,689		16,420
Series 29		16,149		17,578
Series 30		14,096		14,993
Series 31		16,187		18,151
Series 32		16,115		17,965
Series 33		13,619		14,218
Series 34		14,572		15,394
Series 35		14,339		15,420
Series 36		13,109		13,183
Series 37		12,950		13,591
Series 38		13,673		14,212
Series 39		41,394		13,065
Series 40		14,322		15,081
Series 41		15,980		16,909
Series 42		15,406		16,382
Series 43		16,806		18,397
Series 44		14,185		14,621
Series 45		19,556		20,809
Series 46		15,665		16,678
	$	487,139	$	452,767

Accounts payable - affiliates at March 31, 2018 and 2017 represents general and administrative expenses, fund management fees, and commissions which are payable to Boston Capital Partners, Inc., Boston Capital Holdings Limited Partnership, Boston Capital Services, Inc., and Boston Capital Asset Management Limited Partnership.

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INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS

12 Months Ended

Mar. 31, 2018

Investments In Operating Partnerships [Abstract]

Equity Method Investments Disclosure [Text Block]

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS

At March 31, 2018 and 2017, the fund has limited partnership interests in operating limited partnerships, which own or are constructing or rehabilitating operating apartment complexes. The number of operating limited partnerships in which the fund has limited partnership interests at March 31, 2018 and 2017 by series are as follows:

	2018		2017
Series 20		2		3
Series 21		-		2
Series 22		3		3
Series 23		3		4
Series 24		5		6
Series 25		-		4
Series 26		9		13
Series 27		3		5
Series 28		5		5
Series 29		7		8
Series 30		5		8
Series 31		8		10
Series 32		6		7
Series 33		3		5
Series 34		4		4
Series 35		2		3
Series 36		3		3
Series 37		1		2
Series 38		4		4
Series 39		-		1
Series 40		9		10
Series 41		12		17
Series 42		11		15
Series 43		17		19
Series 44		7		7
Series 45		26		27
Series 46		14		14
		169		209

During the year ended March 31, 2018 the Fund disposed of forty Operating Partnerships. Gain on disposition is included in share of income (losses) from operating limited partnerships. A summary of the dispositions by Series for March 31, 2018 is as follows.

	Operating Partnership Interest Transferred		Sale of Underlying Operating Partnership		Partnership Proceeds from Disposition *		Gain on Disposition
Series 20		-		1	$	42,000	$	42,000
Series 21		-		2		67,000		67,000
Series 23		1		-		989,962		989,962
Series 24		1		-		95,000		95,000
Series 25		-		4		97,399		97,399
Series 26		-		4		80,000		80,000
Series 27		1		1		3,291,567		3,291,567
Series 29		1		-		296,608		303,958
Series 30		1		2		236,521		276,484
Series 31		-		2		45,000		45,000
Series 32		1		-		1,677,252		1,677,252
Series 33		1		1		107,890		177,044
Series 35		-		1		2,653,528		2,653,528
Series 37		-		1		1,977		140,415
Series 39		-		1		17,779		17,779
Series 40		-		1		588,952		588,952
Series 41		1		4		1,026,759		1,026,859
Series 42		1		3		427,305		427,305
Series 43		-		2		566,806		566,806
Series 45		1		-		-		-
Series 46		-		-		10,994		10,994
Total		10		30	$	12,320,299	$	12,575,304

*Partnership proceeds from disposition does not include $7,350, $39,963, $69,154, $138,438 and $100 which was due to a writeoff of capital contribution payable as of March 31, 2018, for Series 29, Series 30, Series 33, Series 37 and Series 41, respectively.

During the year ended March 31, 2017 the Fund disposed of forty nine Operating Partnerships. Gain on disposition is included in share of income (losses) from operating limited partnerships. A summary of the dispositions by Series for March 31, 2017 is as follows.

	Operating Partnership Interest Transferred		Sale of Underlying Operating Partnership		Partnership Proceeds from Disposition *		Gain on Disposition
Series 20		-		1	$	138,000	$	138,000
Series 23		2		-		488,550		488,550
Series 26		1		-		18,500		18,500
Series 27		1		1		3,016,000		3,016,000
Series 28		1		-		5,000		5,000
Series 31		7		-		877,411		877,411
Series 32		2		1		569,552		569,552
Series 34		3		-		630,691		630,691
Series 35		1		2		2,720,765		2,720,765
Series 36		3		1		2,515,373		2,515,373
Series 37		3		1		2,349,732		2,349,732
Series 38		1		3		3,273,698		3,273,698
Series 39		4		2		1,645,989		1,645,989
Series 40		4		-		93,700		93,700
Series 41		1		-		70,500		70,500
Series 44		-		1		-		-
Series 45		1		-		-		-
Series 46		-		1		393,183		393,183
Total		35		14	$	18,806,644	$	18,806,644

Under the terms of the Fund’s investment in each operating limited partnership, the Fund is required to make capital contributions to the operating limited partnerships. These contributions are payable in installments over several years upon each operating limited partnership achieving specified levels of construction or operations. At March 31, 2018 and 2017, contributions are payable to operating limited partnerships as follows:

	2018		2017
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		885		8,235
Series 30		65,176		105,139
Series 31		66,294		66,294
Series 32		1,229		1,229
Series 33		-		69,154
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		138,438
Series 38		-		-
Series 39		-		-
Series 40		102		102
Series 41		-		100
Series 42		254		73,433
Series 43		26,082		99,265
Series 44		-		-
Series 45		16,724		16,724
Series 46		-		-
	$	176,746	$	578,113

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Total		Series 20		Series 21
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	184,987,233	$	801,709	$	-
Acquisition costs of operating limited partnerships		6,519,915		113,727		-
Cumulative distributions from operating limited partnerships		(1,524,276)		-		-
Cumulative impairment loss in investments in operating limited partnerships		(101,705,964)		(337,192)		-
Cumulative losses from operating limited partnerships		(88,276,908)		(578,244)		-
Investments in operating limited partnerships per balance sheet		-		-		-

	Total		Series 20		Series 21
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(752,340)		-		-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(1,014,542)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		110,689		144		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(54,135,331)		(346,427)		-
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		298,325		-		-
Cumulative impairment loss in investments in operating limited partnerships		101,705,964		337,192		-
Other		(1,537,638)		(3,038)		-
Equity per operating limited partnerships’ combined financial statements	$	44,675,127	$	(12,129)	$	-

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 22		Series 23		Series 24
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	755,045	$	652,559	$	2,609,877
Acquisition costs of operating limited partnerships		78,016		101,606		270,834
Cumulative distributions from operating limited partnerships		-		-		(21,752)
Cumulative impairment loss in investments in operating limited partnerships		(325,787)		(554,366)		(1,018,072)
Cumulative losses from operating limited partnerships		(507,274)		(199,799)		(1,840,887)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 22		Series 23		Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-		-		(30,158)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(39,009)		(62,597)		(91,548)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		7,927		(5,691)		5,141
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(917,196)		(278,856)		(2,244,208)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		34,901		6,688
Cumulative impairment loss in investments in operating limited partnerships		325,787		554,366		1,018,072
Other		1,126		(4,235)		125,715
Equity per operating limited partnerships’ combined financial statements	$	(621,365)	$	237,888	$	(1,210,298)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 25		Series 26		Series 27
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	-	$	3,935,123	$	3,133,255
Acquisition costs of operating limited partnerships		-		594,449		387,469
Cumulative distributions from operating limited partnerships		-		(11,745)		-
Cumulative impairment loss in investments in operating limited partnerships		-		(902,540)		(2,626,423)
Cumulative losses from operating limited partnerships		-		(3,615,287)		(894,301)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 25		Series 26		Series 27
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-		(51,000)		-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		(38,119)		(222,527)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		28,901		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		-		(3,965,540)		(925,221)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		171,816		-
Cumulative impairment loss in investments in operating limited partnerships		-		902,540		2,626,423
Other		-		(88,729)		(105,509)
Equity per operating limited partnerships’ combined financial statements	$	-	$	(3,040,131)	$	1,373,166

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 28		Series 29		Series 30
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	2,736,848	$	6,015,021	$	3,419,639
Acquisition costs of operating limited partnerships		388,894		869,863		370,248
Cumulative distributions from operating limited partnerships		(5,079)		(14,324)		(22,837)
Cumulative impairment loss in investments in operating limited partnerships		(973,150)		(2,645,150)		(1,571,164)
Cumulative losses from operating limited partnerships		(2,147,513)		(4,225,410)		(2,195,886)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 28		Series 29		Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(12,030)		-		(71,585)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(62,189)		(132,403)		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		33,990		39,537		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,012,890)		(2,943,963)		(1,447,713)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		(316)		1,092
Cumulative impairment loss in investments in operating limited partnerships		973,150		2,645,150		1,571,164
Other		(47,411)		(33,985)		(12,117)
Equity per operating limited partnerships’ combined financial statements	$	(1,127,380)	$	(425,980)	$	40,841

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 31		Series 32		Series 33
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	5,325,826	$	12,481,943	$	6,465,137
Acquisition costs of operating limited partnerships		744,060		1,405,649		783,763
Cumulative distributions from operating limited partnerships		(29,962)		(44,114)		(3,170)
Cumulative impairment loss in investments in operating limited partnerships		(3,106,050)		(8,016,312)		(5,228,587)
Cumulative losses from operating limited partnerships		(2,933,874)		(5,827,166)		(2,017,143)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 31		Series 32		Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(47,462)		(160,172)		(81,443)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(77,600)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		740		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,336,809)		(3,691,664)		(1,423,036)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		29,991		-
Cumulative impairment loss in investments in operating limited partnerships		3,106,050		8,016,312		5,228,587
Other		(44,918)		225,300		(18,341)
Equity per operating limited partnerships’ combined financial statements	$	(399,999)	$	4,419,767	$	3,705,767

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 34		Series 35		Series 36
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,257,458	$	2,705,747	$	4,276,900
Acquisition costs of operating limited partnerships		411,337		-		-
Cumulative distributions from operating limited partnerships		(20,308)		-		(27,291)
Cumulative impairment loss in investments in operating limited partnerships		(3,951,725)		(754,520)		(2,406,542)
Cumulative losses from operating limited partnerships		(2,696,762)		(1,951,227)		(1,843,067)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 34		Series 35		Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-		-		-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(288,550)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,445,856)		(2,119,964)		(1,076,427)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		3,300		-
Cumulative impairment loss in investments in operating limited partnerships		3,951,725		754,520		2,406,542
Other		(143,671)		5		(37,008)
Equity per operating limited partnerships’ combined financial statements	$	2,073,648	$	(1,362,139)	$	1,293,107

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 37		Series 38		Series 39
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,003,938	$	9,815,140	$	-
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(65,908)		(359,635)		-
Cumulative impairment loss in investments in operating limited partnerships		(3,023,930)		(7,249,126)		-
Cumulative losses from operating limited partnerships		(2,914,100)		(2,206,379)		-
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 37		Series 38		Series 39
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-		-		-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,295,610)		(890,820)		-
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		-		-
Cumulative impairment loss in investments in operating limited partnerships		3,023,930		7,249,126		-
Other		(65,834)		(269,977)		-
Equity per operating limited partnerships’ combined financial statements	$	1,662,486	$	6,088,329	$	-

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 40		Series 41		Series 42
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	10,870,415	$	9,423,231	$	9,955,057
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(22,466)		(28,546)		(13,231)
Cumulative impairment loss in investments in operating limited partnerships		(5,308,127)		(3,548,252)		(4,092,870)
Cumulative losses from operating limited partnerships		(5,539,822)		(5,846,433)		(5,848,956)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 40		Series 41		Series 42
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(16,841)		(33,807)		(76,678)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,760,624)		(3,298,857)		(3,931,656)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		22,950		-		-
Cumulative impairment loss in investments in operating limited partnerships		5,308,127		3,548,252		4,092,870
Other		(74,329)		(386,974)		(45,152)
Equity per operating limited partnerships’ combined financial statements	$	2,479,283	$	(171,386)	$	39,384

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 43		Series 44		Series 45
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	18,263,440	$	13,739,925	$	25,399,407
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(264,057)		(49,115)		(320,357)
Cumulative impairment loss in investments in operating limited partnerships		(8,893,106)		(5,557,696)		(16,583,879)
Cumulative losses from operating limited partnerships		(9,106,277)		(8,133,114)		(8,495,171)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 43		Series 44		Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(34,350)		-		(129,725)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(4,470,306)		(4,653,305)		(3,073,662)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		-		23,309
Cumulative impairment loss in investments in operating limited partnerships		8,893,106		5,557,696		16,583,879
Other		(91,726)		(119,646)		(219,562)
Equity per operating limited partnerships’ combined financial statements	$	4,296,724	$	784,745	$	13,184,239

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 46
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	19,944,593
Acquisition costs of operating limited partnerships		-
Cumulative distributions from operating limited partnerships		(200,379)
Cumulative impairment loss in investments in operating limited partnerships		(13,031,398)
Cumulative losses from operating limited partnerships		(6,712,816)
Investments in operating limited partnerships per balance sheet		-

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(7,089)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,584,721)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		4,594
Cumulative impairment loss in investments in operating limited partnerships		13,031,398
Other		(77,622)
Equity per operating limited partnerships’ combined financial statements	$	11,366,560

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Total		Series 20		Series 21
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	226,703,371	$	1,140,993	$	524,510
Acquisition costs of operating limited partnerships		9,097,175		162,528		85,843
Cumulative distributions from operating limited partnerships		(1,675,040)		-		(22,441)
Cumulative impairment loss in investments in operating limited partnerships		(122,872,037)		(337,192)		(38,116)
Cumulative losses from operating limited partnerships		(111,253,469)		(966,329)		(549,796)
Investments in operating limited partnerships per balance sheet		-		-		-

	Total		Series 20		Series 21
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(1,145,457)		-		-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(1,902,879)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		183,255		7,136		15,685
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(57,696,047)		(1,066,850)		(325,745)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		357,746		-		-
Cumulative impairment loss in investments in operating limited partnerships		122,872,037		337,192		38,116
Other		(1,455,539)		(2,935)		(43,375)
Equity per operating limited partnerships’ combined financial statements	$	61,213,116	$	(725,457)	$	(315,319)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 22		Series 23		Series 24
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	755,045	$	3,303,139	$	2,879,744
Acquisition costs of operating limited partnerships		78,016		482,854		310,375
Cumulative distributions from operating limited partnerships		-		-		(34,932)
Cumulative impairment loss in investments in operating limited partnerships		(325,787)		(2,213,351)		(1,151,381)
Cumulative losses from operating limited partnerships		(507,274)		(1,572,642)		(2,003,806)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 22		Series 23		Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-		-		(30,158)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(39,009)		(62,597)		(91,548)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		7,927		(5,691)		841
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(856,165)		(970,072)		(2,267,378)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		34,901		6,688
Cumulative impairment loss in investments in operating limited partnerships		325,787		2,213,351		1,151,381
Other		1,125		(97,940)		107,836
Equity per operating limited partnerships’ combined financial statements	$	(560,335)	$	1,111,952	$	(1,122,338)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 25		Series 26		Series 27
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	1,438,868	$	5,164,819	$	5,994,660
Acquisition costs of operating limited partnerships		167,460		772,454		813,797
Cumulative distributions from operating limited partnerships		(57,503)		(30,449)		(1,096)
Cumulative impairment loss in investments in operating limited partnerships		(1,430,062)		(1,350,275)		(3,487,976)
Cumulative losses from operating limited partnerships		(118,763)		(4,556,549)		(3,319,385)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 25		Series 26		Series 27
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-		(51,000)		-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		(59,837)		(222,527)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		31,239		45,732		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(456,606)		(4,815,872)		(1,317,831)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		171,816		-
Cumulative impairment loss in investments in operating limited partnerships		1,430,062		1,350,275		3,487,976
Other		(78,352)		(94,916)		(84,291)
Equity per operating limited partnerships’ combined financial statements	$	926,343	$	(3,453,802)	$	1,863,327

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 28		Series 29		Series 30
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	2,736,848	$	9,231,659	$	5,493,284
Acquisition costs of operating limited partnerships		388,894		1,333,588		667,262
Cumulative distributions from operating limited partnerships		(5,079)		(14,324)		(29,318)
Cumulative impairment loss in investments in operating limited partnerships		(930,910)		(5,444,545)		(2,194,151)
Cumulative losses from operating limited partnerships		(2,189,753)		(5,106,378)		(3,937,077)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 28		Series 29		Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(12,030)		-		(112,197)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(62,189)		(596,128)		(235,701)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		33,990		39,537		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,819,446)		(3,478,199)		(2,083,473)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		7,039		1,092
Cumulative impairment loss in investments in operating limited partnerships		930,910		5,444,545		2,194,151
Other		(45,965)		(30,529)		(21,265)
Equity per operating limited partnerships’ combined financial statements	$	(974,730)	$	1,386,265	$	(257,393)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 31		Series 32		Series 33
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	5,898,003	$	14,149,131	$	8,367,365
Acquisition costs of operating limited partnerships		826,360		1,645,450		950,957
Cumulative distributions from operating limited partnerships		(31,355)		(45,614)		(3,170)
Cumulative impairment loss in investments in operating limited partnerships		(3,574,025)		(9,175,569)		(6,568,884)
Cumulative losses from operating limited partnerships		(3,118,983)		(6,573,398)		(2,746,268)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 31		Series 32		Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(47,462)		(172,318)		(179,468)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(77,600)		-		(167,193)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		6,859		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,188,582)		(3,395,101)		(1,876,329)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		29,991		9,684
Cumulative impairment loss in investments in operating limited partnerships		3,574,025		9,175,569		6,568,884
Other		(50,995)		251,165		(13,716)
Equity per operating limited partnerships’ combined financial statements	$	216,245	$	5,889,306	$	4,341,862

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 34		Series 35		Series 36
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,257,458	$	5,386,247	$	4,276,900
Acquisition costs of operating limited partnerships		411,337		-		-
Cumulative distributions from operating limited partnerships		(20,308)		(2,459)		(27,291)
Cumulative impairment loss in investments in operating limited partnerships		(3,951,725)		(2,462,259)		(2,406,542)
Cumulative losses from operating limited partnerships		(2,696,762)		(2,921,529)		(1,843,067)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 34		Series 35		Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-		-		-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(288,550)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,354,867)		(2,237,121)		(984,727)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		3,300		-
Cumulative impairment loss in investments in operating limited partnerships		3,951,725		2,462,259		2,406,542
Other		(139,920)		2,467		(33,040)
Equity per operating limited partnerships’ combined financial statements	$	2,168,388	$	230,905	$	1,388,775

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 37		Series 38		Series 39
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	7,549,550	$	9,815,140	$	671,150
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(65,908)		(359,635)		-
Cumulative impairment loss in investments in operating limited partnerships		(3,922,795)		(7,194,962)		(233,531)
Cumulative losses from operating limited partnerships		(3,560,847)		(2,260,543)		(437,619)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 37		Series 38		Series 39
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(155,365)		-		-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,916,369)		(866,648)		(97,796)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		13,201		-		-
Cumulative impairment loss in investments in operating limited partnerships		3,922,795		7,194,962		233,531
Other		(12,299)		(233,707)		(72,294)
Equity per operating limited partnerships’ combined financial statements	$	1,851,963	$	6,094,607	$	63,441

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 40		Series 41		Series 42
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	11,579,898	$	15,436,181	$	16,067,004
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(22,466)		(38,570)		(20,956)
Cumulative impairment loss in investments in operating limited partnerships		(5,441,719)		(5,854,800)		(7,195,970)
Cumulative losses from operating limited partnerships		(6,115,713)		(9,542,811)		(8,850,078)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 40		Series 41		Series 42
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(16,841)		(33,807)		(76,678)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,230,853)		(3,483,277)		(4,285,267)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		32,119		-		20,012
Cumulative impairment loss in investments in operating limited partnerships		5,441,719		5,854,800		7,195,970
Other		(72,329)		(325,495)		(21,834)
Equity per operating limited partnerships’ combined financial statements	$	3,153,815	$	2,012,221	$	2,832,203

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 43		Series 44		Series 45
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	23,300,481	$	13,739,925	$	25,600,776
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(271,984)		(49,115)		(320,688)
Cumulative impairment loss in investments in operating limited partnerships		(11,001,252)		(5,442,013)		(16,541,124)
Cumulative losses from operating limited partnerships		(12,027,245)		(8,248,797)		(8,738,964)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 43		Series 44		Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(121,319)		-		(129,725)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(4,434,039)		(4,416,600)		(2,226,331)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		-		23,309
Cumulative impairment loss in investments in operating limited partnerships		11,001,252		5,442,013		16,541,124
Other		(50,452)		(90,418)		(164,622)
Equity per operating limited partnerships’ combined financial statements	$	6,395,442	$	934,995	$	14,043,755

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 46
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	19,944,593
Acquisition costs of operating limited partnerships		-
Cumulative distributions from operating limited partnerships		(200,379)
Cumulative impairment loss in investments in operating limited partnerships		(13,001,121)
Cumulative losses from operating limited partnerships		(6,743,093)
Investments in operating limited partnerships per balance sheet		-

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(7,089)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,244,503)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		4,594
Cumulative impairment loss in investments in operating limited partnerships		13,001,121
Other		(37,443)
Equity per operating limited partnerships’ combined financial statements	$	11,716,680

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS

	Total		Series 20		Series 21
ASSETS
Buildings and improvements, net of accumulated depreciation	$	249,209,773	$	1,460,271	$	-
Land		27,147,517		121,238		-
Other assets		39,106,718		541,654		-
	$	315,464,008	$	2,123,163	$	-
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	234,642,083	$	1,827,138	$	-
Accounts payable and accrued expenses		12,444,674		82,131		-
Other liabilities		29,381,746		44,740		-
		276,468,503		1,954,009		-
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		44,675,127		(12,129)		-
Other partners		(5,679,622)		181,283		-
		38,995,505		169,154		-
	$	315,464,008	$	2,123,163	$	-

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 22		Series 23		Series 24
ASSETS
Buildings and improvements, net of accumulated depreciation	$	1,793,608	$	2,046,782	$	2,369,663
Land		426,603		389,075		527,938
Other assets		1,033,547		991,609		447,400
	$	3,253,758	$	3,427,466	$	3,345,001
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,791,955	$	3,088,788	$	4,032,540
Accounts payable and accrued expenses		112,473		99,536		132,642
Other liabilities		51,431		38,141		408,586
		3,955,859		3,226,465		4,573,768
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(621,365)		237,888		(1,210,298)
Other partners		(80,736)		(36,887)		(18,469)
		(702,101)		201,001		(1,228,767)
	$	3,253,758	$	3,427,466	$	3,345,001

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 25		Series 26		Series 27
ASSETS
Buildings and improvements, net of accumulated depreciation	$	-	$	4,879,803	$	4,254,056
Land		-		462,610		410,981
Other assets		-		772,068		400,890
	$	-	$	6,114,481	$	5,065,927
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	-	$	6,904,332	$	2,409,239
Accounts payable and accrued expenses		-		1,486,077		235,966
Other liabilities		-		1,095,335		460,815
		-		9,485,744		3,106,020
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		-		(3,040,131)		1,373,166
Other partners		-		(331,132)		586,741
		-		(3,371,263)		1,959,907
	$	-	$	6,114,481	$	5,065,927

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 28		Series 29		Series 30
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,755,398	$	6,106,858	$	4,315,605
Land		251,300		414,245		305,500
Other assets		482,629		1,056,737		671,879
	$	4,489,327	$	7,577,840	$	5,292,984
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	4,478,673	$	5,671,239	$	4,454,001
Accounts payable and accrued expenses		169,655		874,253		236,951
Other liabilities		1,115,613		1,747,302		413,484
		5,763,941		8,292,794		5,104,436
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(1,127,380)		(425,980)		40,841
Other partners		(147,234)		(288,974)		147,707
		(1,274,614)		(714,954)		188,548
	$	4,489,327	$	7,577,840	$	5,292,984

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 31		Series 32		Series 33
ASSETS
Buildings and improvements, net of accumulated depreciation	$	6,411,391	$	12,082,984	$	9,945,410
Land		679,013		1,039,323		1,048,536
Other assets		1,227,670		1,704,002		819,007
	$	8,318,074	$	14,826,309	$	11,812,953
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	8,155,638	$	6,305,907	$	5,038,209
Accounts payable and accrued expenses		562,436		1,134,284		94,290
Other liabilities		347,897		900,912		202,248
		9,065,971		8,341,103		5,334,747
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(399,999)		4,419,767		3,705,767
Other partners		(347,898)		2,065,439		2,772,439
		(747,897)		6,485,206		6,478,206
	$	8,318,074	$	14,826,309	$	11,812,953

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 34		Series 35		Series 36
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,664,921	$	3,402,696	$	5,018,234
Land		230,576		424,178		655,300
Other assets		1,160,601		774,344		692,934
	$	6,056,098	$	4,601,218	$	6,366,468
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,222,586	$	3,914,272	$	3,390,303
Accounts payable and accrued expenses		236,580		105,814		642,979
Other liabilities		777,336		2,530,084		319,267
		4,236,502		6,550,170		4,352,549
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,073,648		(1,362,139)		1,293,107
Other partners		(254,052)		(586,813)		720,812
		1,819,596		(1,948,952)		2,013,919
	$	6,056,098	$	4,601,218	$	6,366,468

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 37		Series 38		Series 39
ASSETS
Buildings and improvements, net of accumulated depreciation	$	2,938,976	$	7,232,837	$	-
Land		300,500		670,346		-
Other assets		363,761		1,069,314		-
	$	3,603,237	$	8,972,497	$	-
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	2,226,066	$	4,372,730	$	-
Accounts payable and accrued expenses		113,657		110,235		-
Other liabilities		75,800		570,658		-
		2,415,523		5,053,623		-
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,662,486		6,088,329		-
Other partners		(474,772)		(2,169,455)		-
		1,187,714		3,918,874		-
	$	3,603,237	$	8,972,497	$	-

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 40		Series 41		Series 42
ASSETS
Buildings and improvements, net of accumulated depreciation	$	11,886,926	$	15,806,500	$	18,204,788
Land		533,804		2,809,784		4,017,885
Other assets		1,262,627		3,213,204		3,343,171
	$	13,683,357	$	21,829,488	$	25,565,844
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	8,860,117	$	20,947,647	$	22,140,649
Accounts payable and accrued expenses		950,497		949,825		2,232,722
Other liabilities		1,304,968		1,063,816		1,866,089
		11,115,582		22,961,288		26,239,460
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,479,283		(171,386)		39,384
Other partners		88,492		(960,414)		(713,000)
		2,567,775		(1,131,800)		(673,616)
	$	13,683,357	$	21,829,488	$	25,565,844

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 43		Series 44		Series 45
ASSETS
Buildings and improvements, net of accumulated depreciation	$	24,334,517	$	30,064,552	$	36,333,189
Land		2,922,696		3,008,317		3,549,710
Other assets		3,682,350		3,564,066		6,347,963
	$	30,939,563	$	36,636,935	$	46,230,862
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	25,879,896	$	36,344,684	$	28,098,216
Accounts payable and accrued expenses		469,666		307,798		766,948
Other liabilities		3,952,081		4,931,290		2,521,398
		30,301,643		41,583,772		31,386,562
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		4,296,724		784,745		13,184,239
Other partners		(3,658,804)		(5,731,582)		1,660,061
		637,920		(4,946,837)		14,844,300
	$	30,939,563	$	36,636,935	$	46,230,862

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 46
ASSETS
Buildings and improvements, net of accumulated depreciation	$	29,899,808
Land		1,948,059
Other assets		3,483,291
	$	35,331,158
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	19,087,258
Accounts payable and accrued expenses		337,259
Other liabilities		2,642,455
		22,066,972
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		11,366,560
Other partners		1,897,626
		13,264,186
	$	35,331,158

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS

	Total		Series 20		Series 21
ASSETS
Buildings and improvements, net of accumulated depreciation	$	394,212,193	$	2,085,075	$	1,489,227
Land		41,747,860		246,238		183,210
Other assets		49,639,300		582,694		366,699
	$	485,599,353	$	2,914,007	$	2,039,136
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	348,577,513	$	3,200,912	$	2,297,325
Accounts payable and accrued expenses		16,107,662		75,817		22,623
Other liabilities		40,891,893		50,451		40,020
		405,577,068		3,327,180		2,359,968
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		61,213,116		(725,457)		(315,319)
Other partners		18,809,169		312,284		(5,513)
		80,022,285		(413,173)		(320,832)
	$	485,599,353	$	2,914,007	$	2,039,136

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 22		Series 23		Series 24
ASSETS
Buildings and improvements, net of accumulated depreciation	$	1,945,141	$	4,805,126	$	3,402,825
Land		426,603		522,075		636,838
Other assets		1,013,637		1,248,448		644,794
	$	3,385,381	$	6,575,649	$	4,684,457
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,834,362	$	4,961,827	$	5,238,205
Accounts payable and accrued expenses		88,761		157,317		118,124
Other liabilities		65,589		820,842		411,627
		3,988,712		5,939,986		5,767,956
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(560,335)		1,111,952		(1,122,338)
Other partners		(42,996)		(476,289)		38,839
		(603,331)		635,663		(1,083,499)
	$	3,385,381	$	6,575,649	$	4,684,457

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 25		Series 26		Series 27
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,013,338	$	7,274,962	$	12,049,493
Land		203,400		620,110		1,360,969
Other assets		919,878		1,105,294		1,862,638
	$	4,136,616	$	9,000,366	$	15,273,100
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,290,404	$	10,309,719	$	9,390,191
Accounts payable and accrued expenses		62,955		1,437,631		346,277
Other liabilities		31,649		1,110,272		2,149,189
		3,385,008		12,857,622		11,885,657
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		926,343		(3,453,802)		1,863,327
Other partners		(174,735)		(403,454)		1,524,116
		751,608		(3,857,256)		3,387,443
	$	4,136,616	$	9,000,366	$	15,273,100

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 28		Series 29		Series 30
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,949,712	$	9,381,511	$	6,657,707
Land		251,300		694,245		415,348
Other assets		445,890		2,959,653		831,281
	$	4,646,902	$	13,035,409	$	7,904,336
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	4,563,975	$	6,879,017	$	7,235,178
Accounts payable and accrued expenses		177,233		1,061,966		337,340
Other liabilities		1,022,213		3,393,759		699,680
		5,763,421		11,334,742		8,272,198
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(974,730)		1,386,265		(257,393)
Other partners		(141,789)		314,402		(110,469)
		(1,116,519)		1,700,667		(367,862)
	$	4,646,902	$	13,035,409	$	7,904,336

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 31		Series 32		Series 33
ASSETS
Buildings and improvements, net of accumulated depreciation	$	8,072,673	$	14,247,643	$	14,983,903
Land		725,013		1,185,852		1,328,537
Other assets		1,458,129		1,880,115		1,256,727
	$	10,255,815	$	17,313,610	$	17,569,167
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	9,530,208	$	7,147,321	$	6,828,064
Accounts payable and accrued expenses		534,648		1,213,357		623,125
Other liabilities		340,754		876,272		897,122
		10,405,610		9,236,950		8,348,311
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		216,245		5,889,306		4,341,862
Other partners		(366,040)		2,187,354		4,878,994
		(149,795)		8,076,660		9,220,856
	$	10,255,815	$	17,313,610	$	17,569,167

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 34		Series 35		Series 36
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,939,111	$	6,496,199	$	5,418,554
Land		230,576		671,988		655,300
Other assets		1,074,019		808,787		684,276
	$	6,243,706	$	7,976,974	$	6,758,130
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,273,740	$	5,448,834	$	3,488,113
Accounts payable and accrued expenses		222,965		179,364		676,964
Other liabilities		818,633		2,602,051		311,735
		4,315,338		8,230,249		4,476,812
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,168,388		230,905		1,388,775
Other partners		(240,020)		(484,180)		892,543
		1,928,368		(253,275)		2,281,318
	$	6,243,706	$	7,976,974	$	6,758,130

 

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 37		Series 38		Series 39
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,913,034	$	7,584,676	$	704,469
Land		300,501		670,346		50,000
Other assets		379,600		989,351		36,912
	$	5,593,135	$	9,244,373	$	791,381
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	2,708,987	$	4,509,814	$	705,510
Accounts payable and accrued expenses		539,389		185,976		9,232
Other liabilities		599,151		544,697		23,287
		3,847,527		5,240,487		738,029
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,851,963		6,094,607		63,441
Other partners		(106,355)		(2,090,721)		(10,089)
		1,745,608		4,003,886		53,352
	$	5,593,135	$	9,244,373	$	791,381

 

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 40		Series 41		Series 42
ASSETS
Buildings and improvements, net of accumulated depreciation	$	34,036,000	$	52,194,620	$	38,829,717
Land		3,816,175		7,423,381		5,877,411
Other assets		2,777,597		5,236,886		4,108,842
	$	40,629,772	$	64,854,887	$	48,815,970
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	32,191,614	$	53,514,163	$	34,987,875
Accounts payable and accrued expenses		1,056,318		1,675,342		2,490,974
Other liabilities		1,710,051		2,686,207		3,815,676
		34,957,983		57,875,712		41,294,525
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		3,153,815		2,012,221		2,832,203
Other partners		2,517,974		4,966,954		4,689,242
		5,671,789		6,979,175		7,521,445
	$	40,629,772	$	64,854,887	$	48,815,970

 

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 43		Series 44		Series 45
ASSETS
Buildings and improvements, net of accumulated depreciation	$	41,562,908	$	31,835,019	$	41,406,048
Land		4,306,232		3,008,317		3,989,836
Other assets		3,973,680		3,488,635		6,245,976
	$	49,842,820	$	38,331,971	$	51,641,860
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	36,674,057	$	36,988,184	$	29,953,961
Accounts payable and accrued expenses		1,350,023		318,124		815,588
Other liabilities		4,916,891		5,494,147		2,853,533
		42,940,971		42,800,455		33,623,082
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		6,395,442		934,995		14,043,755
Other partners		506,407		(5,403,479)		3,975,023
		6,901,849		(4,468,484)		18,018,778
	$	49,842,820	$	38,331,971	$	51,641,860

 

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 46
ASSETS
Buildings and improvements, net of accumulated depreciation	$	30,933,502
Land		1,948,059
Other assets		3,258,862
	$	36,140,423
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	19,425,953
Accounts payable and accrued expenses		330,229
Other liabilities		2,606,395
		22,362,577
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		11,716,680
Other partners		2,061,166
		13,777,846
	$	36,140,423

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Total		Series 20		Series 21
Revenue
Rent	$	59,398,750	$	701,243	$	-
Interest and other		2,081,320		34,131		-
		61,480,070		735,374		-
Expenses
Interest		9,976,398		40,916		-
Depreciation and amortization		15,520,004		190,051		-
Taxes and insurance		7,048,627		84,929		-
Repairs and maintenance		13,245,533		223,413		-
Operating expenses		20,924,826		280,254		-
Impairment loss		-		-		-
Other expenses		1,657,987		15,151		-
		68,373,375		834,714		-
NET INCOME (LOSS)	$	(6,893,305)	$	(99,340)	$	-
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(6,894,299)	$	(41,124)	$	-
Net income (loss) allocated to other partners	$	994	$	(58,216)	$	-

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

	Series 22		Series 23		Series 24
Revenue
Rent	$	777,464	$	676,191	$	1,046,817
Interest and other		25,569		29,562		33,804
		803,033		705,753		1,080,621
Expenses
Interest		67,480		53,752		114,978
Depreciation and amortization		166,676		147,788		327,920
Taxes and insurance		109,531		114,432		105,929
Repairs and maintenance		246,890		195,543		312,137
Operating expenses		284,562		241,378		425,363
Impairment loss		-		-		-
Other expenses		26,664		23,314		11,000
		901,803		776,207		1,297,327
NET INCOME (LOSS)	$	(98,770)	$	(70,454)	$	(216,706)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(61,031)	$	(36,752)	$	(164,872)
Net income (loss) allocated to other partners	$	(37,739)	$	(33,702)	$	(51,834)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

	Series 25		Series 26		Series 27
Revenue
Rent	$	-	$	1,404,161	$	1,102,641
Interest and other		-		19,444		33,171
		-		1,423,605		1,135,812
Expenses
Interest		-		253,767		70,722
Depreciation and amortization		-		358,807		255,283
Taxes and insurance		-		199,939		155,332
Repairs and maintenance		-		352,166		264,890
Operating expenses		-		612,472		409,198
Impairment loss		-		-		-
Other expenses		-		15,500		3,738
		-		1,792,651		1,159,163
NET INCOME (LOSS)	$	-	$	(369,046)	$	(23,351)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	-	$	(366,786)	$	(122,997)
Net income (loss) allocated to other partners	$	-	$	(2,260)	$	99,646

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

	Series 28		Series 29		Series 30
Revenue
Rent	$	975,117	$	1,634,250	$	939,076
Interest and other		47,573		51,201		23,518
		1,022,690		1,685,451		962,594
Expenses
Interest		159,861		373,340		84,542
Depreciation and amortization		228,061		354,571		242,960
Taxes and insurance		128,754		222,567		121,506
Repairs and maintenance		210,652		369,821		208,871
Operating expenses		447,746		607,139		418,238
Impairment loss		-		-		-
Other expenses		-		22,800		35,405
		1,175,074		1,950,238		1,111,522
NET INCOME (LOSS)	$	(152,384)	$	(264,787)	$	(148,928)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(195,312)	$	(282,525)	$	(144,991)
Net income (loss) allocated to other partners	$	42,928	$	17,738	$	(3,937)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

	Series 31		Series 32		Series 33
Revenue
Rent	$	1,348,492	$	2,428,492	$	2,100,839
Interest and other		43,915		52,192		69,087
		1,392,407		2,480,684		2,169,926
Expenses
Interest		105,031		417,115		332,490
Depreciation and amortization		484,843		718,635		464,936
Taxes and insurance		235,144		307,332		245,656
Repairs and maintenance		271,520		585,210		471,398
Operating expenses		801,235		818,716		731,323
Impairment loss		-		-		-
Other expenses		6,100		280,402		109,922
		1,903,873		3,127,410		2,355,725
NET INCOME (LOSS)	$	(511,466)	$	(646,726)	$	(185,799)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(508,072)	$	(529,903)	$	(166,677)
Net income (loss) allocated to other partners	$	(3,394)	$	(116,823)	$	(19,122)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 34		Series 35		Series 36
Revenue
Rent	$	990,022	$	1,109,868	$	1,404,270
Interest and other		50,401		56,608		96,136
		1,040,423		1,166,476		1,500,406
Expenses
Interest		115,831		166,488		245,431
Depreciation and amortization		274,190		322,312		400,320
Taxes and insurance		142,435		125,565		207,765
Repairs and maintenance		271,381		146,852		240,660
Operating expenses		328,145		315,137		536,516
Impairment loss		-		-		-
Other expenses		-		20,000		33,240
		1,131,982		1,096,354		1,663,932
NET INCOME (LOSS)	$	(91,559)	$	70,122	$	(163,526)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(131,700)	$	(28,464)	$	(105,544)
Net income (loss) allocated to other partners	$	40,141	$	98,586	$	(57,982)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 37		Series 38		Series 39
Revenue
Rent	$	926,321	$	1,815,067	$	-
Interest and other		94,968		32,993		-
		1,021,289		1,848,060		-
Expenses
Interest		154,787		237,109		-
Depreciation and amortization		288,474		351,840		-
Taxes and insurance		123,765		208,711		-
Repairs and maintenance		126,872		340,146		-
Operating expenses		394,926		663,366		-
Impairment loss		-		-		-
Other expenses		21,240		18,000		-
		1,110,064		1,819,172		-
NET INCOME (LOSS)	$	(88,775)	$	28,888	$	-
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(71,171)	$	(60,830)	$	-
Net income (loss) allocated to other partners	$	(17,604)	$	89,718	$	-

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 40		Series 41		Series 42
Revenue
Rent	$	2,283,836	$	4,412,627	$	5,090,021
Interest and other		62,781		84,421		137,483
		2,346,617		4,497,048		5,227,504
Expenses
Interest		409,713		839,230		1,054,603
Depreciation and amortization		658,520		959,310		1,250,104
Taxes and insurance		265,802		594,085		660,648
Repairs and maintenance		648,664		908,083		1,189,295
Operating expenses		907,664		1,295,534		1,375,366
Impairment loss		-		-		-
Other expenses		40,662		285,669		293,209
		2,931,025		4,881,911		5,823,225
NET INCOME (LOSS)	$	(584,408)	$	(384,863)	$	(595,721)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(529,771)	$	(453,901)	$	(579,351)
Net income (loss) allocated to other partners	$	(54,637)	$	69,038	$	(16,370)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 43		Series 44		Series 45
Revenue
Rent	$	5,672,841	$	7,803,146	$	7,720,272
Interest and other		322,373		299,178		181,028
		5,995,214		8,102,324		7,901,300
Expenses
Interest		859,783		1,856,141		969,028
Depreciation and amortization		1,864,267		1,852,534		2,091,134
Taxes and insurance		680,940		516,078		759,561
Repairs and maintenance		1,397,953		1,519,781		1,901,521
Operating expenses		2,113,375		2,512,418		2,804,275
Impairment loss		-		-		-
Other expenses		45,619		68,979		237,099
		6,961,937		8,325,931		8,762,618
NET INCOME (LOSS)	$	(966,723)	$	(223,607)	$	(861,318)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(638,082)	$	(407,845)	$	(897,088)
Net income (loss) allocated to other partners	$	(328,641)	$	184,238	$	35,770

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2018 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2018 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 46
Revenue
Rent	$	5,035,676
Interest and other		199,783
		5,235,459
Expenses
Interest		994,260
Depreciation and amortization		1,266,468
Taxes and insurance		732,221
Repairs and maintenance		841,814
Operating expenses		1,600,480
Impairment loss		-
Other expenses		44,274
		5,479,517
NET INCOME (LOSS)	$	(244,058)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(369,510)
Net income (loss) allocated to other partners	$	125,452

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Total		Series 20		Series 21
Revenue
Rent	$	85,755,446	$	889,757	$	493,555
Interest and other		2,943,930		51,176		3,440
		88,699,376		940,933		496,995
Expenses
Interest		17,012,370		67,782		39,664
Depreciation and amortization		22,495,020		257,685		82,880
Taxes and insurance		10,332,106		96,986		68,302
Repairs and maintenance		19,174,823		304,750		129,182
Operating expenses		29,285,986		360,239		195,717
Impairment loss		-		-		-
Other expenses		1,936,798		14,439		-
		100,237,103		1,101,881		515,745
NET INCOME (LOSS)	$	(11,537,727)	$	(160,948)	$	(18,750)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(8,901,790)	$	(106,474)	$	(39,102)
Net income (loss) allocated to other partners	$	(2,635,937)	$	(54,474)	$	20,352

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 22		Series 23		Series 24
Revenue
Rent	$	780,062	$	1,426,787	$	1,218,703
Interest and other		36,302		112,584		28,210
		816,364		1,539,371		1,246,913
Expenses
Interest		70,347		117,886		127,601
Depreciation and amortization		166,222		286,650		361,276
Taxes and insurance		110,615		155,346		117,868
Repairs and maintenance		289,406		284,376		357,522
Operating expenses		283,947		864,097		486,157
Impairment loss		-		-		-
Other expenses		13,232		14,212		11,156
		933,769		1,722,567		1,461,580
NET INCOME (LOSS)	$	(117,405)	$	(183,196)	$	(214,667)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(45,959)	$	(159,714)	$	(185,148)
Net income (loss) allocated to other partners	$	(71,446)	$	(23,482)	$	(29,519)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 25		Series 26		Series 27
Revenue
Rent	$	857,567	$	2,172,933	$	3,174,381
Interest and other		20,950		57,555		25,493
		878,517		2,230,488		3,199,874
Expenses
Interest		80,735		306,650		509,261
Depreciation and amortization		176,707		572,435		661,245
Taxes and insurance		92,956		296,029		366,487
Repairs and maintenance		188,389		687,453		605,819
Operating expenses		368,878		850,626		974,005
Impairment loss		-		-		-
Other expenses		8,814		15,500		38,677
		916,479		2,728,693		3,155,494
NET INCOME (LOSS)	$	(37,962)	$	(498,205)	$	44,380
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(112,755)	$	(500,992)	$	(164,034)
Net income (loss) allocated to other partners	$	74,793	$	2,787	$	208,414

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 28		Series 29		Series 30
Revenue
Rent	$	1,002,280	$	1,870,776	$	1,509,820
Interest and other		25,270		170,891		38,014
		1,027,550		2,041,667		1,547,834
Expenses
Interest		163,031		417,247		157,690
Depreciation and amortization		225,777		541,192		405,826
Taxes and insurance		132,749		269,958		197,172
Repairs and maintenance		213,513		457,333		335,232
Operating expenses		437,570		909,738		625,657
Impairment loss		-		-		-
Other expenses		-		20,300		9,527
		1,172,640		2,615,768		1,731,104
NET INCOME (LOSS)	$	(145,090)	$	(574,101)	$	(183,270)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(198,898)	$	(531,118)	$	(187,074)
Net income (loss) allocated to other partners	$	53,808	$	(42,983)	$	3,804

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 31		Series 32		Series 33
Revenue
Rent	$	1,706,240	$	2,847,292	$	2,625,326
Interest and other		48,995		86,930		86,895
		1,755,235		2,934,222		2,712,221
Expenses
Interest		168,268		468,653		441,719
Depreciation and amortization		573,233		816,277		707,952
Taxes and insurance		288,339		348,890		335,238
Repairs and maintenance		284,817		745,036		623,753
Operating expenses		935,094		929,535		990,872
Impairment loss		-		-		-
Other expenses		6,013		220,748		110,459
		2,255,764		3,529,139		3,209,993
NET INCOME (LOSS)	$	(500,529)	$	(594,917)	$	(497,772)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(497,487)	$	(529,907)	$	(297,842)
Net income (loss) allocated to other partners	$	(3,042)	$	(65,010)	$	(199,930)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 34		Series 35		Series 36
Revenue
Rent	$	971,745	$	1,806,433	$	1,365,067
Interest and other		35,012		69,612		90,846
		1,006,757		1,876,045		1,455,913
Expenses
Interest		104,262		290,660		257,096
Depreciation and amortization		275,627		485,344		400,786
Taxes and insurance		141,495		203,459		252,292
Repairs and maintenance		286,631		260,199		277,928
Operating expenses		326,343		620,343		434,010
Impairment loss		-		-		-
Other expenses		-		25,200		33,541
		1,134,358		1,885,205		1,655,653
NET INCOME (LOSS)	$	(127,601)	$	(9,160)	$	(199,740)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(136,875)	$	(40,749)	$	(131,250)
Net income (loss) allocated to other partners	$	9,274	$	31,589	$	(68,490)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 37		Series 38		Series 39
Revenue
Rent	$	1,039,639	$	1,774,853	$	168,432
Interest and other		102,567		21,673		-
		1,142,206		1,796,526		168,432
Expenses
Interest		160,035		247,122		6,237
Depreciation and amortization		358,716		372,627		29,091
Taxes and insurance		201,945		214,991		15,558
Repairs and maintenance		193,056		414,817		60,340
Operating expenses		402,404		633,207		70,601
Impairment loss		-		-		-
Other expenses		23,041		18,000		-
		1,339,197		1,900,764		181,827
NET INCOME (LOSS)	$	(196,991)	$	(104,238)	$	(13,395)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(141,806)	$	(144,427)	$	(13,393)
Net income (loss) allocated to other partners	$	(55,185)	$	40,189	$	(2)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 40		Series 41		Series 42
Revenue
Rent	$	7,913,892	$	12,012,632	$	7,743,859
Interest and other		203,429		279,982		260,401
		8,117,321		12,292,614		8,004,260
Expenses
Interest		2,291,713		3,221,005		1,812,102
Depreciation and amortization		1,873,123		2,810,380		2,129,667
Taxes and insurance		1,045,058		1,452,787		865,086
Repairs and maintenance		1,488,255		2,489,498		1,833,446
Operating expenses		1,783,214		3,034,020		2,567,479
Impairment loss		-		-		-
Other expenses		296,558		340,154		297,284
		8,777,921		13,347,844		9,505,064
NET INCOME (LOSS)	$	(660,600)	$	(1,055,230)	$	(1,500,804)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(695,283)	$	(535,125)	$	(678,898)
Net income (loss) allocated to other partners	$	34,683	$	(520,105)	$	(821,906)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 43		Series 44		Series 45
Revenue
Rent	$	7,766,042	$	7,687,702	$	8,007,329
Interest and other		468,895		327,166		178,014
		8,234,937		8,014,868		8,185,343
Expenses
Interest		1,506,832		1,873,630		1,104,605
Depreciation and amortization		2,528,048		1,868,001		2,250,286
Taxes and insurance		817,994		554,655		948,985
Repairs and maintenance		1,962,505		1,516,605		1,937,661
Operating expenses		3,247,142		2,660,711		2,758,102
Impairment loss		-		-		-
Other expenses		69,965		97,607		214,186
		10,132,486		8,571,209		9,213,825
NET INCOME (LOSS)	$	(1,897,549)	$	(556,341)	$	(1,028,482)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(749,824)	$	(596,043)	$	(915,282)
Net income (loss) allocated to other partners	$	(1,147,725)	$	39,702	$	(113,200)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 46
Revenue
Rent	$	4,922,342
Interest and other		113,628
		5,035,970
Expenses
Interest		1,000,537
Depreciation and amortization		1,277,967
Taxes and insurance		740,866
Repairs and maintenance		947,301
Operating expenses		1,536,278
Impairment loss		-
Other expenses		38,185
		5,541,134
NET INCOME (LOSS)	$	(505,164)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(566,331)
Net income (loss) allocated to other partners	$	61,167

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

XML

NOTES RECEIVABLE

12 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE D - NOTES RECEIVABLE

Notes receivable at March 31, 2018 and 2017 consist of advance installments of $0 and $22,790, respectively, of capital contributions to operating limited partnerships. The notes are comprised of interest bearing notes at prime + 1.75%. Prime was 3.25% as of March 31, 2018 and 2017. These notes are secured by future installments of capital contributions or paid upon demand. The notes at March 31, 2018 and 2017 by series are as follows:

	2018		2017
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		-		-
Series 30		-		-
Series 31		-		-
Series 32		-		-
Series 33		-		-
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		-
Series 38		-		-
Series 39		-		-
Series 40		-		-
Series 41		-		-
Series 42		-		22,790
Series 43		-		-
Series 44		-		-
Series 45		-		-
Series 46		-		-
	$	-	$	22,790

XML

RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN

12 Months Ended

Mar. 31, 2018

Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Abstract]

Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Text Block]

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Total		Series 20		Series 21
Net income (loss) for financial reporting purposes	$	9,787,196	$	(6,894)	$	9,244
Operating limited partnership rents received in advance		13,134		50		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(8,810,810)		(22,179)		(250,346)
Other		14,169,885		733,304		-
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(6,894,299)		(41,124)		-
Excess of tax depreciation over book depreciation on operating limited partnership assets		(2,514,249)		401		-
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(13,573,039)		(17,657)		951,647
Income (loss) for tax return purposes, December 31, 2017	$	(7,822,182)	$	645,901	$	710,545

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 22		Series 23		Series 24
Net income (loss) for financial reporting purposes	$	(59,412)	$	943,256	$	21,331
Operating limited partnership rents received in advance		-		-		777
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		29,212		(1,156,287)		-
Other		2		(225,288)		(18,366)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(61,031)		(36,752)		(164,872)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(21,871)		(29,857)		(35,635)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(13,333)		(320,484)		(109,573)
Income (loss) for tax return purposes, December 31, 2017	$	(126,433)	$	(825,412)	$	(306,338)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 25		Series 26		Series 27
Net income (loss) for financial reporting purposes	$	34,406	$	(35,421)	$	3,225,133
Operating limited partnership rents received in advance		-		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		-		-
Other		-		1,333,631		5,285,281
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		-		(366,786)		(122,997)
Excess of tax depreciation over book depreciation on operating limited partnership assets		-		(91,645)		(35,980)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		151,588		(113,791)		(3,477,575)
Income (loss) for tax return purposes, December 31, 2017	$	185,994	$	725,988	$	4,873,862

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 28		Series 29		Series 30
Net income (loss) for financial reporting purposes	$	(69,919)	$	203,747	$	240,789
Operating limited partnership rents received in advance		-		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		80,369		(21,019)
Other		194,238		(129,500)		782,386
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(195,312)		(282,525)		(144,991)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(74,586)		(84,435)		(84,171)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(12,139)		(361,500)		(228,100)
Income (loss) for tax return purposes, December 31, 2017	$	(157,718)	$	(573,844)	$	544,894

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 31		Series 32		Series 33
Net income (loss) for financial reporting purposes	$	(75,968)	$	1,576,107	$	121,295
Operating limited partnership rents received in advance		-		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		(1,847,595)		62,127
Other		452,761		(189,392)		(59,893)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(508,072)		(529,903)		(166,677)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(104,750)		(113,242)		(106,881)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(50,514)		(971,004)		(215,225)
Income (loss) for tax return purposes, December 31, 2017	$	(286,543)	$	(2,075,029)	$	(365,254)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 34		Series 35		Series 36
Net income (loss) for financial reporting purposes	$	(73,012)	$	2,587,521	$	(60,762)
Operating limited partnership rents received in advance		-		-		2,778
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(381,229)		(551,982)		(767,505)
Other		40,711		2,508,317		21,740
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(131,700)		(28,464)		(105,544)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(67,604)		(20,415)		(29,474)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(83,107)		(3,352,191)		(64,237)
Income (loss) for tax return purposes, December 31, 2017	$	(695,941)	$	1,142,786	$	(1,003,004)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 37		Series 38		Series 39
Net income (loss) for financial reporting purposes	$	90,852	$	(46,425)	$	(48,069)
Operating limited partnership rents received in advance		11,662		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(1,530,566)		(1,497,751)		(933,785)
Other		1,023,999		1,088,875		-
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(71,171)		(60,830)		-
Excess of tax depreciation over book depreciation on operating limited partnership assets		-		(115,819)		-
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(812,963)		(709,313)		(918,718)
Income (loss) for tax return purposes, December 31, 2017	$	(1,288,187)	$	(1,341,263)	$	(1,900,572)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 40		Series 41		Series 42
Net income (loss) for financial reporting purposes	$	454,012	$	814,281	$	265,175
Operating limited partnership rents received in advance		(171)		-		(1,477)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(270,989)		(392,649)		-
Other		196,272		278,963		(15,484)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(529,771)		(453,901)		(579,351)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(137,534)		(141,798)		(119,125)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(444,218)		(593,397)		(547,917)
Income (loss) for tax return purposes, December 31, 2017	$	(732,399)	$	(488,501)	$	(998,179)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 43		Series 44		Series 45
Net income (loss) for financial reporting purposes	$	349,598	$	(227,804)	$	(276,116)
Operating limited partnership rents received in advance		(485)		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		143,797		231,224		281,324
Other		239,450		491,352		85,888
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(638,082)		(407,845)		(897,088)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(139,389)		(294,302)		(260,708)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(961,052)		(87,589)		(156,431)
Income (loss) for tax return purposes, December 31, 2017	$	(1,006,163)	$	(294,964)	$	(1,223,131)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 46
Net income (loss) for financial reporting purposes	$	(169,749)
Operating limited partnership rents received in advance		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(14,981)
Other		50,638
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(369,510)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(405,429)
Impairment loss not recognized for tax purposes		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(54,246)
Income (loss) for tax return purposes, December 31, 2017	$	(963,277)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Total		Series 20		Series 21
Net income (loss) for financial reporting purposes	$	15,103,290	$	65,321	$	(44,938)
Operating limited partnership rents received in advance		155		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(9,530,240)		24,843		(139,128)
Other		8,210,250		522,385		18,446
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(8,901,790)		(106,474)		(39,102)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(2,914,770)		(17,784)		(33,177)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(17,518,111)		(131,295)		1,060
Income (loss) for tax return purposes, December 31, 2016	$	(15,551,216)	$	356,996	$	(236,839)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 22		Series 23		Series 24
Net income (loss) for financial reporting purposes	$	(72,794)	$	402,128	$	(75,371)
Operating limited partnership rents received in advance		-		-		(358)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		29,208		37,362		-
Other		547,008		60,716		30,366
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(45,959)		(159,714)		(185,148)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(19,546)		(28,172)		(52,400)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(31,291)		(703,528)		(10,228)
Income (loss) for tax return purposes, December 31, 2016	$	406,626	$	(391,208)	$	(293,139)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 25		Series 26		Series 27
Net income (loss) for financial reporting purposes	$	(51,336)	$	(126,723)	$	2,675,164
Operating limited partnership rents received in advance		-		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		-		-
Other		65,984		708		3,509,504
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(112,755)		(500,992)		(164,034)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(61,003)		(102,807)		106,695
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(6,578)		(11,559)		(2,896,130)
Income (loss) for tax return purposes, December 31, 2016	$	(165,688)	$	(741,373)	$	3,231,199

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 28		Series 29		Series 30
Net income (loss) for financial reporting purposes	$	(64,444)	$	(173,797)	$	(103,851)
Operating limited partnership rents received in advance		-		8,486		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		(99,313)		69,684
Other		87,980		97,387		21,360
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(198,898)		(531,118)		(187,074)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(70,559)		(111,292)		(104,590)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(10,783)		217,422		(285,411)
Income (loss) for tax return purposes, December 31, 2016	$	(256,704)	$	(592,225)	$	(589,882)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 31		Series 32		Series 33
Net income (loss) for financial reporting purposes	$	698,887	$	374,024	$	(94,282)
Operating limited partnership rents received in advance		-		(1,053)		3,591
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		(593,524)		(834,408)
Other		1,772,400		76,514		116,153
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(497,487)		(529,907)		(297,842)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(120,866)		(148,783)		(122,731)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(879,687)		(580,023)		(5,328)
Income (loss) for tax return purposes, December 31, 2016	$	973,247	$	(1,402,752)	$	(1,234,847)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 34		Series 35		Series 36
Net income (loss) for financial reporting purposes	$	556,742	$	2,641,797	$	2,482,508
Operating limited partnership rents received in advance		-		2,642		(1,519)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(248,259)		(1,942,253)		(525,031)
Other		(1,066,168)		1,264,928		889,821
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(136,875)		(40,749)		(131,250)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(70,296)		(79,294)		(29,683)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(647,142)		(2,304,632)		(2,582,560)
Income (loss) for tax return purposes, December 31, 2016	$	(1,611,998)	$	(457,561)	$	102,286

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 37		Series 38		Series 39
Net income (loss) for financial reporting purposes	$	2,213,042	$	3,212,273	$	1,554,531
Operating limited partnership rents received in advance		(6,374)		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(457,692)		(504,647)		(620,973)
Other		1,380,551		2,040,553		(1,571,550)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(141,806)		(144,427)		(13,393)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(20,612)		(112,811)		(13,019)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(1,854,291)		(2,730,241)		(1,069,742)
Income (loss) for tax return purposes, December 31, 2016	$	1,112,818	$	1,760,700	$	(1,734,146)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 40		Series 41		Series 42
Net income (loss) for financial reporting purposes	$	(79,129)	$	(137,219)	$	(199,189)
Operating limited partnership rents received in advance		(2,549)		-		240
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(178,258)		124,592		(2,141,040)
Other		(2,082,251)		(176,849)		124,991
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(695,283)		(535,125)		(678,898)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(115,566)		(207,789)		(215,303)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(158,655)		(202,362)		(67,226)
Income (loss) for tax return purposes, December 31, 2016	$	(3,311,691)	$	(1,134,752)	$	(3,176,425)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 43		Series 44		Series 45
Net income (loss) for financial reporting purposes	$	(246,031)	$	(231,517)	$	(244,274)
Operating limited partnership rents received in advance		(323)		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(2,289,322)		239,076		282,759
Other		(137,271)		(62,471)		239,056
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(749,824)		(596,043)		(915,282)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(195,524)		(295,249)		(274,370)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		186,238		(128,192)		(137,774)
Income (loss) for tax return purposes, December 31, 2016	$	(3,432,057)	$	(1,074,396)	$	(1,049,885)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 46
Net income (loss) for financial reporting purposes	$	171,768
Operating limited partnership rents received in advance		(2,628)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		236,084
Other		439,999
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(566,331)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(398,239)
Impairment loss not recognized for tax purposes		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(488,173)
Income (loss) for tax return purposes, December 31, 2016	$	(607,520)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Total		Series 20		Series 21
Investments in operating limited partnerships - tax return December 31, 2017	$	14,372,703	$	(499,918)	$	-
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		54,135,331		346,427		-
Impairment loss in investment in operating limited partnerships		(101,705,964)		(337,192)		-
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		(110,689)		(144)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		33,308,619		490,827		-
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 22		Series 23		Series 24
Investments in operating limited partnerships - tax return December 31, 2017	$	(959,438)	$	(374,542)	$	(1,497,270)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		917,196		278,856		2,244,208
Impairment loss in investment in operating limited partnerships		(325,787)		(554,366)		(1,018,072)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		(7,927)		5,691		(5,141)
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		375,956		644,361		276,275
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 25		Series 26		Series 27
Investments in operating limited partnerships - tax return December 31, 2017	$	-	$	(4,269,725)	$	337,039
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		-		3,965,540		925,221
Impairment loss in investment in operating limited partnerships		-		(902,540)		(2,626,423)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		-		(28,901)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		-		1,235,626		1,364,163
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 28		Series 29		Series 30
Investments in operating limited partnerships - tax return December 31, 2017	$	(1,677,298)	$	(809,909)	$	(797,391)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,012,890		2,943,963		1,447,713
Impairment loss in investment in operating limited partnerships		(973,150)		(2,645,150)		(1,571,164)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		(33,990)		(39,537)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		671,548		550,633		920,842
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 31		Series 32		Series 33
Investments in operating limited partnerships - tax return December 31, 2017	$	(1,472,975)	$	2,314,568	$	2,108,030
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		3,336,809		3,691,664		1,423,036
Impairment loss in investment in operating limited partnerships		(3,106,050)		(8,016,312)		(5,228,587)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		(740)		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,242,956		2,010,080		1,697,521
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 34		Series 35		Series 36
Investments in operating limited partnerships - tax return December 31, 2017	$	1,329,228	$	(1,262,041)	$	1,059,543
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,445,856		2,119,964		1,076,427
Impairment loss in investment in operating limited partnerships		(3,951,725)		(754,520)		(2,406,542)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,176,641		(103,403)		270,572
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 37		Series 38		Series 39
Investments in operating limited partnerships - tax return December 31, 2017	$	1,720,746	$	4,598,836	$	-
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,295,610		890,820		-
Impairment loss in investment in operating limited partnerships		(3,023,930)		(7,249,126)		-
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		7,574		1,759,470		-
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 40		Series 41		Series 42
Investments in operating limited partnerships - tax return December 31, 2017	$	706,370	$	(2,432,159)	$	(576,343)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,760,624		3,298,857		3,931,656
Impairment loss in investment in operating limited partnerships		(5,308,127)		(3,548,252)		(4,092,870)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,841,133		2,681,554		737,557
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 43		Series 44		Series 45
Investments in operating limited partnerships - tax return December 31, 2017	$	3,032,936	$	(1,629,402)	$	9,271,463
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		4,470,306		4,653,305		3,073,662
Impairment loss in investment in operating limited partnerships		(8,893,106)		(5,557,696)		(16,583,879)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,389,864		2,533,793		4,238,754
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 46
Investments in operating limited partnerships - tax return December 31, 2017	$	6,152,355
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,584,721
Impairment loss in investment in operating limited partnerships		(13,031,398)
Historic tax credits - cumulative		-
Less share of loss - three months ended March 31, 2018		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Other		5,294,322
Investments in operating limited partnerships - as reported	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Total		Series 20		Series 21
Investments in operating limited partnerships - tax return December 31, 2016	$	23,526,808	$	(1,140,956)	$	(984,278)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		57,696,047		1,066,850		325,745
Impairment loss in investment in operating limited partnerships		(122,872,037)		(337,192)		(38,116)
Historic tax credits - cumulative		978,267		570,617		-
Less share of loss - three months ended March 31, 2017		(183,255)		(7,136)		(15,685)
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		40,854,170		(152,183)		712,334
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 22		Series 23		Series 24
Investments in operating limited partnerships - tax return December 31, 2016	$	(876,538)	$	1,392,317	$	(1,278,780)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		856,165		970,072		2,267,378
Impairment loss in investment in operating limited partnerships		(325,787)		(2,213,351)		(1,151,381)
Historic tax credits - cumulative		223,537		-		-
Less share of loss - three months ended March 31, 2017		(7,927)		5,691		(841)
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		130,550		(154,729)		163,624
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 25		Series 26		Series 27
Investments in operating limited partnerships - tax return December 31, 2016	$	(268,984)	$	(5,065,008)	$	(1,594,442)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		456,606		4,815,872		1,317,831
Impairment loss in investment in operating limited partnerships		(1,430,062)		(1,350,275)		(3,487,976)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		(31,239)		(45,732)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,273,679		1,645,143		3,764,587
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 28		Series 29		Series 30
Investments in operating limited partnerships - tax return December 31, 2016	$	(1,601,638)	$	(313,449)	$	(1,084,631)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,819,446		3,478,199		2,083,473
Impairment loss in investment in operating limited partnerships		(930,910)		(5,444,545)		(2,194,151)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		(33,990)		(39,537)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		747,092		2,319,332		1,195,309
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 31		Series 32		Series 33
Investments in operating limited partnerships - tax return December 31, 2016	$	(1,182,450)	$	5,351,336	$	2,508,935
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		3,188,582		3,395,101		1,876,329
Impairment loss in investment in operating limited partnerships		(3,574,025)		(9,175,569)		(6,568,884)
Historic tax credits - cumulative		-		184,113		-
Less share of loss - three months ended March 31, 2017		(6,859)		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,574,752		245,019		2,183,620
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 34		Series 35		Series 36
Investments in operating limited partnerships - tax return December 31, 2016	$	1,488,403	$	(884,003)	$	1,174,145
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,354,867		2,237,121		984,727
Impairment loss in investment in operating limited partnerships		(3,951,725)		(2,462,259)		(2,406,542)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,108,455		1,109,141		247,670
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 37		Series 38		Series 39
Investments in operating limited partnerships - tax return December 31, 2016	$	1,316,599	$	5,168,309	$	767,711
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,916,369		866,648		97,796
Impairment loss in investment in operating limited partnerships		(3,922,795)		(7,194,962)		(233,531)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		689,827		1,160,005		(631,976)
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 40		Series 41		Series 42
Investments in operating limited partnerships - tax return December 31, 2016	$	1,822,558	$	(1,243,644)	$	388,430
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,230,853		3,483,277		4,285,267
Impairment loss in investment in operating limited partnerships		(5,441,719)		(5,854,800)		(7,195,970)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,388,308		3,615,167		2,522,273
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 43		Series 44		Series 45
Investments in operating limited partnerships - tax return December 31, 2016	$	3,816,055	$	(1,407,277)	$	10,366,187
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		4,434,039		4,416,600		2,226,331
Impairment loss in investment in operating limited partnerships		(11,001,252)		(5,442,013)		(16,541,124)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		2,751,158		2,432,690		3,948,606
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 46
Investments in operating limited partnerships - tax return December 31, 2016	$	6,891,901
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,244,503
Impairment loss in investment in operating limited partnerships		(13,001,121)
Historic tax credits - cumulative		-
Less share of loss - three months ended March 31, 2017		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Other		4,864,717
Investments in operating limited partnerships - as reported	$	-

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CASH EQUIVALENTS

12 Months Ended

Mar. 31, 2018

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents Disclosure [Text Block]

NOTE F - CASH EQUIVALENTS

Cash equivalents of $27,108,889 and $27,084,576 as of March 31, 2018 and 2017, respectively, include money market accounts with interest rates ranging from 0.10% to 0.35% per annum.

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CONCENTRATION OF CREDIT RISK

12 Months Ended

Mar. 31, 2018

Risks and Uncertainties [Abstract]

Concentration Risk Disclosure [Text Block]

NOTE G - CONCENTRATION OF CREDIT RISK

The Fund maintains its cash and cash equivalent balances in several accounts in various financial institutions. The balances are generally insured by the Federal Deposit Insurance Corporation (FDIC) up to specified limits by each institution. At times, the balances may exceed these insurance limits; however, the Fund has not experienced any losses with respect to its balances in excess of FDIC insurance. Management believes that no significant concentration of credit risk with respect to these cash and cash equivalent balances exists as of March 31, 2018.

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SUBSEQUENT EVENTS

12 Months Ended

Mar. 31, 2018

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE H - SUBSEQUENT EVENTS

Subsequent to March 31, 2018, the Fund has entered into agreements to either sell or transfer its interests in three operating limited partnerships, all of which closed by June 2018. The sales price and other terms for the disposition of the operating limited partnerships has been determined. The proceeds received for the operating limited partnerships were $664,657. The gain on the dispositions of these operating limited partnerships was $652,217 and was recognized in the first quarter of the fiscal year ended 2019.

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FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

NOTE I - FAIR VALUE OF FINANCIAL INSTRUMENTS

The Fund’s financial instruments relate to notes receivable and accounts payable - affiliates. Management has not disclosed the fair value of these financial instruments because determination of such fair value is deemed to be impractical. The notes receivable and accounts payable - affiliates are due from or owed to affiliates of the Fund. The unique nature of these financial instruments makes determination of any fair value impractical. See notes B and D for disclosure of the carrying amount and terms of these financial instruments.

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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Investment In Operating Limited Partnerships [Policy Text Block]

Investments in Operating Limited Partnerships

The Fund accounts for its investments in operating limited partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each operating limited partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes the individual operating limited partnership’s losses only to the extent that the Fund’s share of losses from the operating limited partnerships does not exceed the carrying amount of its investment and its advances to operating limited partnerships. Unrecognized losses are suspended and offset against future individual operating limited partnership income.

After the investment account is reduced to zero, receivables due from the operating limited partnerships are decreased by the partnership’s share of losses and, accordingly, a valuation allowance is recorded against the receivables. Accordingly, the Fund recorded a valuation allowance of $401,577 and $401,660 as of March 31, 2018 and 2017, respectively.

The Fund reviews its investment in operating limited partnerships for impairment whenever events or changes in circumstances indicate that the carrying amount of such investments may not be recoverable. Recoverability is measured by a comparison of the carrying amount of the investment to the sum of the total amount of the remaining tax credits and the estimated residual value of the investment. The Fund also evaluates its intangibles for impairment in connection with its investments in operating limited partnerships. No impairment losses have been recognized for the years ended March 31, 2018 and 2017.

Capital contributions to operating limited partnerships are adjusted by tax credit adjusters. Tax credit adjusters are defined as adjustments to operating limited partnership capital contributions due to reductions in actual tax credits from those originally projected. The Fund records tax credit adjusters as a reduction in investments in operating limited partnerships and capital contributions payable.

The operating limited partnerships maintain their financial statements based on a calendar year and the fund utilizes a March 31 year end. The Fund records losses and income from the operating limited partnerships on a calendar year basis which is not materially different from losses and income generated if the operating limited partnerships utilized a March 31 year end.

The Fund records capital contributions payable to the operating limited partnerships once there is a binding obligation to fund a specified amount. The operating limited partnerships record capital contributions from the fund when received.

Prior to January 1, 1999, the Fund recorded acquisition costs as an increase in its investments in operating limited partnerships. These costs were amortized by the operating limited partnerships over 27.5 years on the straight-line method. Certain operating limited partnerships have not recorded the acquisition costs as a capital contribution from the fund. These differences are shown as reconciling items in note C. As of January 1, 1999, the Fund records acquisition costs incurred after January 1, 1999 as deferred acquisition costs. These costs are amortized on the straight-line method.

In accordance with the accounting guidance for the consolidation of variable interest entities, the Fund determines when it should include the assets, liabilities, and activities of a variable interest entity (VIE) in its financial statements, and when it should disclose information about its relationship with a VIE. A VIE is a legal structure used to conduct activities or hold assets, which must be consolidated by a company if it is the primary beneficiary because it has (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (2) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. If multiple unrelated parties share such power, as defined, no party is required to consolidate the VIE.

The Fund determines whether an entity is a VIE and whether it is the primary beneficiary at the date of initial involvement with the entity. The Fund reassesses whether it is the primary beneficiary of a VIE on an ongoing basis based on changes in facts and circumstances. In determining whether it is the primary beneficiary, the Partnership considers the purpose and activities of the VIE, including the variability and related risks the VIE incurs and transfers to other entities and their related parties. These factors are considered in determining whether the Fund has the power to direct activities of the VIE that most significantly impact the VIE’s economic performance and whether the Fund also has the obligation to absorb losses of or receive benefits from the VIE that could be potentially significant to the VIE. If the Fund determines that it is the primary beneficiary of the VIE, the VIE is consolidated within the Partnership’s financial statements.

Based on this guidance, the operating limited partnerships in which the Fund invests meet the definition of a VIE. However, management does not consolidate the Fund’s interests in these VIEs under this guidance, as it is not considered to be the primary beneficiary. The Fund currently records the amount of its investment in these operating limited partnerships as an asset on its balance sheets, recognizes its share of the operating limited partnership income or losses in the statements of operations, and discloses how it accounts for material types of these investments in its financial statements. The Fund’s balance in investment in operating limited partnerships, advances to operating limited partnerships, plus the risk of recapture of tax credits previously recognized on these investments, represents its maximum exposure to loss. The Fund’s exposure to loss on these operating limited partnerships is mitigated by the condition and financial performance of the underlying properties as well as the strength of the operating limited partnerships' general partners and their guarantee against credit recapture.

Income Tax, Policy [Policy Text Block]

Income Taxes

The Fund has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The funds’s federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Fund has no other tax positions which must be considered for disclosure. Income tax returns filed by the Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2014 remain open.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

Cash equivalents include money market accounts having original maturities at date of acquisition of three months or less. The carrying value approximates fair value because of the short maturity of these instruments.

Fiscal Period, Policy [Policy Text Block]

Fiscal Year

For financial reporting purposes, the fund uses a March 31 year end, whereas for income tax reporting purposes, the fund uses a calendar year. The operating limited partnerships use a calendar year for both financial and income tax reporting.

Earnings Per Beneficial Assignee Partnership Unit [Policy Text Block]

Net Loss Per Beneficial Assignee Certificate Unit

Net loss per beneficial assignee certificate unit is calculated based upon the weighted average number of units outstanding during the year or period. The weighted average number of units in each series at March 31, 2018 and 2017 are as follows:

	2018		2017
Series 20		3,832,200		3,840,925
Series 21		1,879,500		1,880,625
Series 22		2,555,445		2,559,111
Series 23		3,311,952		3,321,202
Series 24		2,153,878		2,157,722
Series 25		3,016,809		3,019,434
Series 26		3,974,100		3,981,950
Series 27		2,445,775		2,451,725
Series 28		3,989,088		3,993,363
Series 29		3,962,781		3,976,625
Series 30		2,628,550		2,634,750
Series 31		4,392,357		4,396,307
Series 32		4,739,198		4,740,573
Series 33		2,626,533		2,627,658
Series 34		3,515,544		3,521,619
Series 35		3,286,251		3,292,413
Series 36		2,094,954		2,097,579
Series 37		2,493,975		2,504,525
Series 38		2,539,750		2,540,100
Series 39		2,288,351		2,289,701
Series 40		2,622,506		2,623,506
Series 41		2,881,826		2,889,751
Series 42		2,735,262		2,736,262
Series 43		3,631,737		3,636,612
Series 44		2,698,098		2,699,848
Series 45		4,009,292		4,013,192
Series 46		2,971,157		2,971,998
		83,276,869		83,399,076

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Limited Partners' Capital Account by Class [Table Text Block]

The BACs issued and outstanding in each series as of March 31, 2018 and 2017 are as follows:

	Issued				Outstanding
	2018		2017		2018		2017
Series 20		3,866,700		3,866,700		3,829,200		3,833,200
Series 21		1,892,700		1,892,700		1,879,500		1,879,500
Series 22		2,564,400		2,564,400		2,550,645		2,557,045
Series 23		3,336,727		3,336,727		3,303,327		3,314,827
Series 24		2,169,878		2,169,878		2,152,753		2,154,253
Series 25		3,026,109		3,026,109		3,016,809		3,016,809
Series 26		3,995,900		3,995,900		3,965,400		3,977,000
Series 27		2,460,700		2,460,700		2,443,900		2,446,400
Series 28		4,000,738		4,000,738		3,984,138		3,990,738
Series 29		3,991,800		3,991,800		3,955,225		3,965,300
Series 30		2,651,000		2,651,000		2,621,200		2,631,000
Series 31		4,417,857		4,417,857		4,382,757		4,395,557
Series 32		4,754,198		4,754,198		4,736,198		4,740,198
Series 33		2,636,533		2,636,533		2,626,533		2,626,533
Series 34		3,529,319		3,529,319		3,509,919		3,517,419
Series 35		3,300,463		3,300,463		3,279,913		3,288,363
Series 36		2,106,838		2,106,838		2,092,704		2,095,704
Series 37		2,512,500		2,512,500		2,489,100		2,495,600
Series 38		2,543,100		2,543,100		2,538,700		2,540,100
Series 39		2,292,151		2,292,151		2,288,351		2,288,351
Series 40		2,630,256		2,630,256		2,621,756		2,622,756
Series 41		2,891,626		2,891,626		2,874,926		2,884,126
Series 42		2,744,262		2,744,262		2,732,262		2,736,262
Series 43		3,637,987		3,637,987		3,629,487		3,632,487
Series 44		2,701,973		2,701,973		2,693,973		2,699,473
Series 45		4,014,367		4,014,367		4,008,167		4,009,667
Series 46		2,980,998		2,980,998		2,968,635		2,971,998
		83,651,080		83,651,080		83,175,478		83,310,666

Schedule Of Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Table Text Block]

The weighted average number of units in each series at March 31, 2018 and 2017 are as follows:

	2018		2017
Series 20		3,832,200		3,840,925
Series 21		1,879,500		1,880,625
Series 22		2,555,445		2,559,111
Series 23		3,311,952		3,321,202
Series 24		2,153,878		2,157,722
Series 25		3,016,809		3,019,434
Series 26		3,974,100		3,981,950
Series 27		2,445,775		2,451,725
Series 28		3,989,088		3,993,363
Series 29		3,962,781		3,976,625
Series 30		2,628,550		2,634,750
Series 31		4,392,357		4,396,307
Series 32		4,739,198		4,740,573
Series 33		2,626,533		2,627,658
Series 34		3,515,544		3,521,619
Series 35		3,286,251		3,292,413
Series 36		2,094,954		2,097,579
Series 37		2,493,975		2,504,525
Series 38		2,539,750		2,540,100
Series 39		2,288,351		2,289,701
Series 40		2,622,506		2,623,506
Series 41		2,881,826		2,889,751
Series 42		2,735,262		2,736,262
Series 43		3,631,737		3,636,612
Series 44		2,698,098		2,699,848
Series 45		4,009,292		4,013,192
Series 46		2,971,157		2,971,998
		83,276,869		83,399,076

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RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Mar. 31, 2018

Related Party Transactions [Abstract]

Schedule Of Fund Management Fee and Reporting Fee [Table Text Block]

The fund management fees net of reporting fees incurred and the reporting fees paid by the Operating Partnerships for the years ended March 31, 2018 and 2017, are as follows:

			2018
					Fund Management Fee
	Gross Fund		Asset Management		net of Asset Management
	Management Fee		and Reporting Fee		and Reporting Fee
Series 20	$	19,821	$	2,617	$	17,204
Series 21		7,654		2,051		5,603
Series 22		29,212		1,100		28,112
Series 23		22,224		1,750		20,474
Series 24		50,352		4,669		45,683
Series 25		11,374		1,692		9,682
Series 26		76,308		3,841		72,467
Series 27		41,073		10,760		30,313
Series 28		35,376		2,000		33,376
Series 29		80,369		19,387		60,982
Series 30		54,481		50,954		3,527
Series 31		81,582		1,500		80,082
Series 32		99,208		19,500		79,708
Series 33		63,077		32,340		30,737
Series 34		49,462		6,200		43,262
Series 35		56,268		8,859		47,409
Series 36		30,504		1,910		28,594
Series 37		46,143		8,018		38,125
Series 38		72,936		10,700		62,236
Series 39		5,130		-		5,130
Series 40		111,663		11,475		100,188
Series 41		197,680		13,663		184,017
Series 42		158,605		23,102		135,503
Series 43		219,297		24,795		194,502
Series 44		231,301		28,120		203,181
Series 45		281,324		28,996		252,328
Series 46		209,196		26,666		182,530
	$	2,341,620	$	346,665	$	1,994,955

			2017
					Fund Management Fee
					net of Asset
	Gross Fund		Asset Management		Management and
	Management Fee		and Reporting Fee		Reporting Fee
Series 20	$	24,843	$	1,367	$	23,476
Series 21		10,872		2,051		8,821
Series 22		29,208		1,100		28,108
Series 23		37,362		5,080		32,282
Series 24		50,352		10,067		40,285
Series 25		23,736		7,360		16,376
Series 26		93,076		5,341		87,735
Series 27		116,442		16,630		99,812
Series 28		44,679		23,000		21,679
Series 29		82,187		7,655		74,532
Series 30		69,684		10,216		59,468
Series 31		134,262		13,000		121,262
Series 32		163,266		18,460		144,806
Series 33		65,592		8,670		56,922
Series 34		70,741		29,315		41,426
Series 35		93,350		49,903		43,447
Series 36		46,580		41,910		4,670
Series 37		117,308		10,518		106,790
Series 38		130,774		27,354		103,420
Series 39		56,801		4,200		52,601
Series 40		137,464		11,425		126,039
Series 41		224,592		27,952		196,640
Series 42		171,480		19,180		152,300
Series 43		230,772		40,748		190,024
Series 44		239,076		32,904		206,172
Series 45		282,759		59,598		223,161
Series 46		236,084		28,475		207,609
	$	2,983,342	$	513,479	$	2,469,863

Schedule Of Management Fees Paid [Table Text Block]

The fund management fees paid for the years ended March 31, 2018 and 2017, are as follows:

	2018		2017
Series 20	$	42,000	$	-
Series 21		258,000		150,000
Series 22		-		-
Series 23		1,178,511		-
Series 24		50,352		50,352
Series 25		11,374		23,736
Series 26		76,308		93,076
Series 27		41,073		116,442
Series 28		35,376		44,679
Series 29		-		181,500
Series 30		75,500		-
Series 31		81,582		134,262
Series 32		1,946,803		756,790
Series 33		950		900,000
Series 34		430,691		319,000
Series 35		608,250		2,035,603
Series 36		798,009		571,611
Series 37		1,576,709		575,000
Series 38		1,570,687		635,421
Series 39		938,915		677,774
Series 40		382,652		315,722
Series 41		590,329		100,000
Series 42		158,605		2,312,520
Series 43		75,500		2,520,094
Series 44		-		-
Series 45		-		-
Series 46		224,177		-
	$	11,152,353	$	12,513,582

Schedule Of Advances From Affiliate [Table Text Block]

The total advances as of March 31, 2018 and 2017, are as follows:

	2018		2017
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		-		-
Series 30		-		-
Series 31		-		-
Series 32		-		-
Series 33		-		-
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		-
Series 38		-		-
Series 39		-		220,455
Series 40		-		-
Series 41		-		-
Series 42		-		-
Series 43		-		-
Series 44		220,238		206,053
Series 45		-		54,659
Series 46		-		-
	$	220,238	$	481,167

Schedule Of General Administrative and Professional Fees [Table Text Block]

During the years ended March 31, 2018 and 2017, general and administrative expenses incurred by Boston Capital Partners, Inc., Boston Capital Holdings Limited Partnership and/or Boston Capital Asset Management Limited Partnership were charged to each series’ operations as follows:

	2018		2017
Series 20	$	15,347	$	16,622
Series 21		39,308		13,370
Series 22		13,968		14,832
Series 23		14,966		16,444
Series 24		14,181		14,350
Series 25		44,888		15,309
Series 26		16,807		18,547
Series 27		13,862		40,226
Series 28		15,689		16,420
Series 29		16,149		17,578
Series 30		14,096		14,993
Series 31		16,187		18,151
Series 32		16,115		17,965
Series 33		13,619		14,218
Series 34		14,572		15,394
Series 35		14,339		15,420
Series 36		13,109		13,183
Series 37		12,950		13,591
Series 38		13,673		14,212
Series 39		41,394		13,065
Series 40		14,322		15,081
Series 41		15,980		16,909
Series 42		15,406		16,382
Series 43		16,806		18,397
Series 44		14,185		14,621
Series 45		19,556		20,809
Series 46		15,665		16,678
	$	487,139	$	452,767

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INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Tables)

12 Months Ended

Mar. 31, 2018

Investments In Operating Partnerships [Abstract]

Schedule Of Number Of Operating Partnerships [Table Text Block]

At March 31, 2018 and 2017, the fund has limited partnership interests in operating limited partnerships, which own or are constructing or rehabilitating operating apartment complexes. The number of operating limited partnerships in which the fund has limited partnership interests at March 31, 2018 and 2017 by series are as follows:

	2018		2017
Series 20		2		3
Series 21		-		2
Series 22		3		3
Series 23		3		4
Series 24		5		6
Series 25		-		4
Series 26		9		13
Series 27		3		5
Series 28		5		5
Series 29		7		8
Series 30		5		8
Series 31		8		10
Series 32		6		7
Series 33		3		5
Series 34		4		4
Series 35		2		3
Series 36		3		3
Series 37		1		2
Series 38		4		4
Series 39		-		1
Series 40		9		10
Series 41		12		17
Series 42		11		15
Series 43		17		19
Series 44		7		7
Series 45		26		27
Series 46		14		14
		169		209

Schedule Of Dispositions By Series [Table Text Block]

During the year ended March 31, 2018 the Fund disposed of forty Operating Partnerships. Gain on disposition is included in share of income (losses) from operating limited partnerships. A summary of the dispositions by Series for March 31, 2018 is as follows.

	Operating Partnership Interest Transferred		Sale of Underlying Operating Partnership		Partnership Proceeds from Disposition *		Gain on Disposition
Series 20		-		1	$	42,000	$	42,000
Series 21		-		2		67,000		67,000
Series 23		1		-		989,962		989,962
Series 24		1		-		95,000		95,000
Series 25		-		4		97,399		97,399
Series 26		-		4		80,000		80,000
Series 27		1		1		3,291,567		3,291,567
Series 29		1		-		296,608		303,958
Series 30		1		2		236,521		276,484
Series 31		-		2		45,000		45,000
Series 32		1		-		1,677,252		1,677,252
Series 33		1		1		107,890		177,044
Series 35		-		1		2,653,528		2,653,528
Series 37		-		1		1,977		140,415
Series 39		-		1		17,779		17,779
Series 40		-		1		588,952		588,952
Series 41		1		4		1,026,759		1,026,859
Series 42		1		3		427,305		427,305
Series 43		-		2		566,806		566,806
Series 45		1		-		-		-
Series 46		-		-		10,994		10,994
Total		10		30	$	12,320,299	$	12,575,304

* Partnership proceeds from disposition does not include $7,350, $39,963, $69,154, $138,438 and $100 which was due to a writeoff of capital contribution payable as of March 31, 2018, for Series 29, Series 30, Series 33, Series 37 and Series 41, respectively.

During the year ended March 31, 2017 the Fund disposed of forty nine Operating Partnerships. Gain on disposition is included in share of income (losses) from operating limited partnerships. A summary of the dispositions by Series for March 31, 2017 is as follows.

	Operating Partnership Interest Transferred		Sale of Underlying Operating Partnership		Partnership Proceeds from Disposition *		Gain on Disposition
Series 20		-		1	$	138,000	$	138,000
Series 23		2		-		488,550		488,550
Series 26		1		-		18,500		18,500
Series 27		1		1		3,016,000		3,016,000
Series 28		1		-		5,000		5,000
Series 31		7		-		877,411		877,411
Series 32		2		1		569,552		569,552
Series 34		3		-		630,691		630,691
Series 35		1		2		2,720,765		2,720,765
Series 36		3		1		2,515,373		2,515,373
Series 37		3		1		2,349,732		2,349,732
Series 38		1		3		3,273,698		3,273,698
Series 39		4		2		1,645,989		1,645,989
Series 40		4		-		93,700		93,700
Series 41		1		-		70,500		70,500
Series 44		-		1		-		-
Series 45		1		-		-		-
Series 46		-		1		393,183		393,183
Total		35		14	$	18,806,644	$	18,806,644

Schedule Of Contributions Payable [Table Text Block]

At March 31, 2018 and 2017, contributions are payable to operating limited partnerships as follows:

	2018		2017
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		885		8,235
Series 30		65,176		105,139
Series 31		66,294		66,294
Series 32		1,229		1,229
Series 33		-		69,154
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		138,438
Series 38		-		-
Series 39		-		-
Series 40		102		102
Series 41		-		100
Series 42		254		73,433
Series 43		26,082		99,265
Series 44		-		-
Series 45		16,724		16,724
Series 46		-		-
	$	176,746	$	578,113

Schedule Of Partnerships Investments In Operating Limited Partnerships [Table Text Block]

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Total		Series 20		Series 21
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	184,987,233	$	801,709	$	-
Acquisition costs of operating limited partnerships		6,519,915		113,727		-
Cumulative distributions from operating limited partnerships		(1,524,276)		-		-
Cumulative impairment loss in investments in operating limited partnerships		(101,705,964)		(337,192)		-
Cumulative losses from operating limited partnerships		(88,276,908)		(578,244)		-
Investments in operating limited partnerships per balance sheet		-		-		-

	Total		Series 20		Series 21
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(752,340)		-		-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(1,014,542)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		110,689		144		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(54,135,331)		(346,427)		-
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		298,325		-		-
Cumulative impairment loss in investments in operating limited partnerships		101,705,964		337,192		-
Other		(1,537,638)		(3,038)		-
Equity per operating limited partnerships’ combined financial statements	$	44,675,127	$	(12,129)	$	-

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 22		Series 23		Series 24
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	755,045	$	652,559	$	2,609,877
Acquisition costs of operating limited partnerships		78,016		101,606		270,834
Cumulative distributions from operating limited partnerships		-		-		(21,752)
Cumulative impairment loss in investments in operating limited partnerships		(325,787)		(554,366)		(1,018,072)
Cumulative losses from operating limited partnerships		(507,274)		(199,799)		(1,840,887)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 22		Series 23		Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-		-		(30,158)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(39,009)		(62,597)		(91,548)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		7,927		(5,691)		5,141
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(917,196)		(278,856)		(2,244,208)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		34,901		6,688
Cumulative impairment loss in investments in operating limited partnerships		325,787		554,366		1,018,072
Other		1,126		(4,235)		125,715
Equity per operating limited partnerships’ combined financial statements	$	(621,365)	$	237,888	$	(1,210,298)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 25		Series 26		Series 27
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	-	$	3,935,123	$	3,133,255
Acquisition costs of operating limited partnerships		-		594,449		387,469
Cumulative distributions from operating limited partnerships		-		(11,745)		-
Cumulative impairment loss in investments in operating limited partnerships		-		(902,540)		(2,626,423)
Cumulative losses from operating limited partnerships		-		(3,615,287)		(894,301)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 25		Series 26		Series 27
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-		(51,000)		-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		(38,119)		(222,527)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		28,901		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		-		(3,965,540)		(925,221)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		171,816		-
Cumulative impairment loss in investments in operating limited partnerships		-		902,540		2,626,423
Other		-		(88,729)		(105,509)
Equity per operating limited partnerships’ combined financial statements	$	-	$	(3,040,131)	$	1,373,166

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 28		Series 29		Series 30
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	2,736,848	$	6,015,021	$	3,419,639
Acquisition costs of operating limited partnerships		388,894		869,863		370,248
Cumulative distributions from operating limited partnerships		(5,079)		(14,324)		(22,837)
Cumulative impairment loss in investments in operating limited partnerships		(973,150)		(2,645,150)		(1,571,164)
Cumulative losses from operating limited partnerships		(2,147,513)		(4,225,410)		(2,195,886)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 28		Series 29		Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(12,030)		-		(71,585)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(62,189)		(132,403)		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		33,990		39,537		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,012,890)		(2,943,963)		(1,447,713)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		(316)		1,092
Cumulative impairment loss in investments in operating limited partnerships		973,150		2,645,150		1,571,164
Other		(47,411)		(33,985)		(12,117)
Equity per operating limited partnerships’ combined financial statements	$	(1,127,380)	$	(425,980)	$	40,841

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 31		Series 32		Series 33
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	5,325,826	$	12,481,943	$	6,465,137
Acquisition costs of operating limited partnerships		744,060		1,405,649		783,763
Cumulative distributions from operating limited partnerships		(29,962)		(44,114)		(3,170)
Cumulative impairment loss in investments in operating limited partnerships		(3,106,050)		(8,016,312)		(5,228,587)
Cumulative losses from operating limited partnerships		(2,933,874)		(5,827,166)		(2,017,143)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 31		Series 32		Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(47,462)		(160,172)		(81,443)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(77,600)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		740		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,336,809)		(3,691,664)		(1,423,036)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		29,991		-
Cumulative impairment loss in investments in operating limited partnerships		3,106,050		8,016,312		5,228,587
Other		(44,918)		225,300		(18,341)
Equity per operating limited partnerships’ combined financial statements	$	(399,999)	$	4,419,767	$	3,705,767

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 34		Series 35		Series 36
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,257,458	$	2,705,747	$	4,276,900
Acquisition costs of operating limited partnerships		411,337		-		-
Cumulative distributions from operating limited partnerships		(20,308)		-		(27,291)
Cumulative impairment loss in investments in operating limited partnerships		(3,951,725)		(754,520)		(2,406,542)
Cumulative losses from operating limited partnerships		(2,696,762)		(1,951,227)		(1,843,067)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 34		Series 35		Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-		-		-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(288,550)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,445,856)		(2,119,964)		(1,076,427)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		3,300		-
Cumulative impairment loss in investments in operating limited partnerships		3,951,725		754,520		2,406,542
Other		(143,671)		5		(37,008)
Equity per operating limited partnerships’ combined financial statements	$	2,073,648	$	(1,362,139)	$	1,293,107

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 37		Series 38		Series 39
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,003,938	$	9,815,140	$	-
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(65,908)		(359,635)		-
Cumulative impairment loss in investments in operating limited partnerships		(3,023,930)		(7,249,126)		-
Cumulative losses from operating limited partnerships		(2,914,100)		(2,206,379)		-
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 37		Series 38		Series 39
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-		-		-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,295,610)		(890,820)		-
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		-		-
Cumulative impairment loss in investments in operating limited partnerships		3,023,930		7,249,126		-
Other		(65,834)		(269,977)		-
Equity per operating limited partnerships’ combined financial statements	$	1,662,486	$	6,088,329	$	-

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 40		Series 41		Series 42
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	10,870,415	$	9,423,231	$	9,955,057
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(22,466)		(28,546)		(13,231)
Cumulative impairment loss in investments in operating limited partnerships		(5,308,127)		(3,548,252)		(4,092,870)
Cumulative losses from operating limited partnerships		(5,539,822)		(5,846,433)		(5,848,956)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 40		Series 41		Series 42
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(16,841)		(33,807)		(76,678)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,760,624)		(3,298,857)		(3,931,656)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		22,950		-		-
Cumulative impairment loss in investments in operating limited partnerships		5,308,127		3,548,252		4,092,870
Other		(74,329)		(386,974)		(45,152)
Equity per operating limited partnerships’ combined financial statements	$	2,479,283	$	(171,386)	$	39,384

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 43		Series 44		Series 45
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	18,263,440	$	13,739,925	$	25,399,407
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(264,057)		(49,115)		(320,357)
Cumulative impairment loss in investments in operating limited partnerships		(8,893,106)		(5,557,696)		(16,583,879)
Cumulative losses from operating limited partnerships		(9,106,277)		(8,133,114)		(8,495,171)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 43		Series 44		Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(34,350)		-		(129,725)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(4,470,306)		(4,653,305)		(3,073,662)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		-		23,309
Cumulative impairment loss in investments in operating limited partnerships		8,893,106		5,557,696		16,583,879
Other		(91,726)		(119,646)		(219,562)
Equity per operating limited partnerships’ combined financial statements	$	4,296,724	$	784,745	$	13,184,239

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 46
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	19,944,593
Acquisition costs of operating limited partnerships		-
Cumulative distributions from operating limited partnerships		(200,379)
Cumulative impairment loss in investments in operating limited partnerships		(13,031,398)
Cumulative losses from operating limited partnerships		(6,712,816)
Investments in operating limited partnerships per balance sheet		-

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(7,089)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,584,721)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		4,594
Cumulative impairment loss in investments in operating limited partnerships		13,031,398
Other		(77,622)
Equity per operating limited partnerships’ combined financial statements	$	11,366,560

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Total		Series 20		Series 21
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	226,703,371	$	1,140,993	$	524,510
Acquisition costs of operating limited partnerships		9,097,175		162,528		85,843
Cumulative distributions from operating limited partnerships		(1,675,040)		-		(22,441)
Cumulative impairment loss in investments in operating limited partnerships		(122,872,037)		(337,192)		(38,116)
Cumulative losses from operating limited partnerships		(111,253,469)		(966,329)		(549,796)
Investments in operating limited partnerships per balance sheet		-		-		-

	Total		Series 20		Series 21
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(1,145,457)		-		-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(1,902,879)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		183,255		7,136		15,685
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(57,696,047)		(1,066,850)		(325,745)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		357,746		-		-
Cumulative impairment loss in investments in operating limited partnerships		122,872,037		337,192		38,116
Other		(1,455,539)		(2,935)		(43,375)
Equity per operating limited partnerships’ combined financial statements	$	61,213,116	$	(725,457)	$	(315,319)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 22		Series 23		Series 24
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	755,045	$	3,303,139	$	2,879,744
Acquisition costs of operating limited partnerships		78,016		482,854		310,375
Cumulative distributions from operating limited partnerships		-		-		(34,932)
Cumulative impairment loss in investments in operating limited partnerships		(325,787)		(2,213,351)		(1,151,381)
Cumulative losses from operating limited partnerships		(507,274)		(1,572,642)		(2,003,806)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 22		Series 23		Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-		-		(30,158)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(39,009)		(62,597)		(91,548)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		7,927		(5,691)		841
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(856,165)		(970,072)		(2,267,378)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		34,901		6,688
Cumulative impairment loss in investments in operating limited partnerships		325,787		2,213,351		1,151,381
Other		1,125		(97,940)		107,836
Equity per operating limited partnerships’ combined financial statements	$	(560,335)	$	1,111,952	$	(1,122,338)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 25		Series 26		Series 27
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	1,438,868	$	5,164,819	$	5,994,660
Acquisition costs of operating limited partnerships		167,460		772,454		813,797
Cumulative distributions from operating limited partnerships		(57,503)		(30,449)		(1,096)
Cumulative impairment loss in investments in operating limited partnerships		(1,430,062)		(1,350,275)		(3,487,976)
Cumulative losses from operating limited partnerships		(118,763)		(4,556,549)		(3,319,385)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 25		Series 26		Series 27
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-		(51,000)		-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		(59,837)		(222,527)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		31,239		45,732		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(456,606)		(4,815,872)		(1,317,831)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		171,816		-
Cumulative impairment loss in investments in operating limited partnerships		1,430,062		1,350,275		3,487,976
Other		(78,352)		(94,916)		(84,291)
Equity per operating limited partnerships’ combined financial statements	$	926,343	$	(3,453,802)	$	1,863,327

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 28		Series 29		Series 30
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	2,736,848	$	9,231,659	$	5,493,284
Acquisition costs of operating limited partnerships		388,894		1,333,588		667,262
Cumulative distributions from operating limited partnerships		(5,079)		(14,324)		(29,318)
Cumulative impairment loss in investments in operating limited partnerships		(930,910)		(5,444,545)		(2,194,151)
Cumulative losses from operating limited partnerships		(2,189,753)		(5,106,378)		(3,937,077)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 28		Series 29		Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(12,030)		-		(112,197)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(62,189)		(596,128)		(235,701)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		33,990		39,537		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,819,446)		(3,478,199)		(2,083,473)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		7,039		1,092
Cumulative impairment loss in investments in operating limited partnerships		930,910		5,444,545		2,194,151
Other		(45,965)		(30,529)		(21,265)
Equity per operating limited partnerships’ combined financial statements	$	(974,730)	$	1,386,265	$	(257,393)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 31		Series 32		Series 33
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	5,898,003	$	14,149,131	$	8,367,365
Acquisition costs of operating limited partnerships		826,360		1,645,450		950,957
Cumulative distributions from operating limited partnerships		(31,355)		(45,614)		(3,170)
Cumulative impairment loss in investments in operating limited partnerships		(3,574,025)		(9,175,569)		(6,568,884)
Cumulative losses from operating limited partnerships		(3,118,983)		(6,573,398)		(2,746,268)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 31		Series 32		Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(47,462)		(172,318)		(179,468)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(77,600)		-		(167,193)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		6,859		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,188,582)		(3,395,101)		(1,876,329)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		29,991		9,684
Cumulative impairment loss in investments in operating limited partnerships		3,574,025		9,175,569		6,568,884
Other		(50,995)		251,165		(13,716)
Equity per operating limited partnerships’ combined financial statements	$	216,245	$	5,889,306	$	4,341,862

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 34		Series 35		Series 36
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,257,458	$	5,386,247	$	4,276,900
Acquisition costs of operating limited partnerships		411,337		-		-
Cumulative distributions from operating limited partnerships		(20,308)		(2,459)		(27,291)
Cumulative impairment loss in investments in operating limited partnerships		(3,951,725)		(2,462,259)		(2,406,542)
Cumulative losses from operating limited partnerships		(2,696,762)		(2,921,529)		(1,843,067)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 34		Series 35		Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-		-		-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(288,550)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,354,867)		(2,237,121)		(984,727)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		3,300		-
Cumulative impairment loss in investments in operating limited partnerships		3,951,725		2,462,259		2,406,542
Other		(139,920)		2,467		(33,040)
Equity per operating limited partnerships’ combined financial statements	$	2,168,388	$	230,905	$	1,388,775

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 37		Series 38		Series 39
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	7,549,550	$	9,815,140	$	671,150
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(65,908)		(359,635)		-
Cumulative impairment loss in investments in operating limited partnerships		(3,922,795)		(7,194,962)		(233,531)
Cumulative losses from operating limited partnerships		(3,560,847)		(2,260,543)		(437,619)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 37		Series 38		Series 39
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(155,365)		-		-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,916,369)		(866,648)		(97,796)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		13,201		-		-
Cumulative impairment loss in investments in operating limited partnerships		3,922,795		7,194,962		233,531
Other		(12,299)		(233,707)		(72,294)
Equity per operating limited partnerships’ combined financial statements	$	1,851,963	$	6,094,607	$	63,441

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 40		Series 41		Series 42
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	11,579,898	$	15,436,181	$	16,067,004
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(22,466)		(38,570)		(20,956)
Cumulative impairment loss in investments in operating limited partnerships		(5,441,719)		(5,854,800)		(7,195,970)
Cumulative losses from operating limited partnerships		(6,115,713)		(9,542,811)		(8,850,078)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 40		Series 41		Series 42
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(16,841)		(33,807)		(76,678)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,230,853)		(3,483,277)		(4,285,267)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		32,119		-		20,012
Cumulative impairment loss in investments in operating limited partnerships		5,441,719		5,854,800		7,195,970
Other		(72,329)		(325,495)		(21,834)
Equity per operating limited partnerships’ combined financial statements	$	3,153,815	$	2,012,221	$	2,832,203

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 43		Series 44		Series 45
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	23,300,481	$	13,739,925	$	25,600,776
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(271,984)		(49,115)		(320,688)
Cumulative impairment loss in investments in operating limited partnerships		(11,001,252)		(5,442,013)		(16,541,124)
Cumulative losses from operating limited partnerships		(12,027,245)		(8,248,797)		(8,738,964)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 43		Series 44		Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(121,319)		-		(129,725)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(4,434,039)		(4,416,600)		(2,226,331)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		-		23,309
Cumulative impairment loss in investments in operating limited partnerships		11,001,252		5,442,013		16,541,124
Other		(50,452)		(90,418)		(164,622)
Equity per operating limited partnerships’ combined financial statements	$	6,395,442	$	934,995	$	14,043,755

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 46
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	19,944,593
Acquisition costs of operating limited partnerships		-
Cumulative distributions from operating limited partnerships		(200,379)
Cumulative impairment loss in investments in operating limited partnerships		(13,001,121)
Cumulative losses from operating limited partnerships		(6,743,093)
Investments in operating limited partnerships per balance sheet		-

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(7,089)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,244,503)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		4,594
Cumulative impairment loss in investments in operating limited partnerships		13,001,121
Other		(37,443)
Equity per operating limited partnerships’ combined financial statements	$	11,716,680

Schedule Of Summarized Balance Sheets In Operating Partnerships [Table Text Block]

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS

	Total		Series 20		Series 21
ASSETS
Buildings and improvements, net of accumulated depreciation	$	249,209,773	$	1,460,271	$	-
Land		27,147,517		121,238		-
Other assets		39,106,718		541,654		-
	$	315,464,008	$	2,123,163	$	-
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	234,642,083	$	1,827,138	$	-
Accounts payable and accrued expenses		12,444,674		82,131		-
Other liabilities		29,381,746		44,740		-
		276,468,503		1,954,009		-
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		44,675,127		(12,129)		-
Other partners		(5,679,622)		181,283		-
		38,995,505		169,154		-
	$	315,464,008	$	2,123,163	$	-

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 22		Series 23		Series 24
ASSETS
Buildings and improvements, net of accumulated depreciation	$	1,793,608	$	2,046,782	$	2,369,663
Land		426,603		389,075		527,938
Other assets		1,033,547		991,609		447,400
	$	3,253,758	$	3,427,466	$	3,345,001
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,791,955	$	3,088,788	$	4,032,540
Accounts payable and accrued expenses		112,473		99,536		132,642
Other liabilities		51,431		38,141		408,586
		3,955,859		3,226,465		4,573,768
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(621,365)		237,888		(1,210,298)
Other partners		(80,736)		(36,887)		(18,469)
		(702,101)		201,001		(1,228,767)
	$	3,253,758	$	3,427,466	$	3,345,001

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 25		Series 26		Series 27
ASSETS
Buildings and improvements, net of accumulated depreciation	$	-	$	4,879,803	$	4,254,056
Land		-		462,610		410,981
Other assets		-		772,068		400,890
	$	-	$	6,114,481	$	5,065,927
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	-	$	6,904,332	$	2,409,239
Accounts payable and accrued expenses		-		1,486,077		235,966
Other liabilities		-		1,095,335		460,815
		-		9,485,744		3,106,020
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		-		(3,040,131)		1,373,166
Other partners		-		(331,132)		586,741
		-		(3,371,263)		1,959,907
	$	-	$	6,114,481	$	5,065,927

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 28		Series 29		Series 30
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,755,398	$	6,106,858	$	4,315,605
Land		251,300		414,245		305,500
Other assets		482,629		1,056,737		671,879
	$	4,489,327	$	7,577,840	$	5,292,984
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	4,478,673	$	5,671,239	$	4,454,001
Accounts payable and accrued expenses		169,655		874,253		236,951
Other liabilities		1,115,613		1,747,302		413,484
		5,763,941		8,292,794		5,104,436
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(1,127,380)		(425,980)		40,841
Other partners		(147,234)		(288,974)		147,707
		(1,274,614)		(714,954)		188,548
	$	4,489,327	$	7,577,840	$	5,292,984

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 31		Series 32		Series 33
ASSETS
Buildings and improvements, net of accumulated depreciation	$	6,411,391	$	12,082,984	$	9,945,410
Land		679,013		1,039,323		1,048,536
Other assets		1,227,670		1,704,002		819,007
	$	8,318,074	$	14,826,309	$	11,812,953
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	8,155,638	$	6,305,907	$	5,038,209
Accounts payable and accrued expenses		562,436		1,134,284		94,290
Other liabilities		347,897		900,912		202,248
		9,065,971		8,341,103		5,334,747
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(399,999)		4,419,767		3,705,767
Other partners		(347,898)		2,065,439		2,772,439
		(747,897)		6,485,206		6,478,206
	$	8,318,074	$	14,826,309	$	11,812,953

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 34		Series 35		Series 36
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,664,921	$	3,402,696	$	5,018,234
Land		230,576		424,178		655,300
Other assets		1,160,601		774,344		692,934
	$	6,056,098	$	4,601,218	$	6,366,468
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,222,586	$	3,914,272	$	3,390,303
Accounts payable and accrued expenses		236,580		105,814		642,979
Other liabilities		777,336		2,530,084		319,267
		4,236,502		6,550,170		4,352,549
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,073,648		(1,362,139)		1,293,107
Other partners		(254,052)		(586,813)		720,812
		1,819,596		(1,948,952)		2,013,919
	$	6,056,098	$	4,601,218	$	6,366,468

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 37		Series 38		Series 39
ASSETS
Buildings and improvements, net of accumulated depreciation	$	2,938,976	$	7,232,837	$	-
Land		300,500		670,346		-
Other assets		363,761		1,069,314		-
	$	3,603,237	$	8,972,497	$	-
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	2,226,066	$	4,372,730	$	-
Accounts payable and accrued expenses		113,657		110,235		-
Other liabilities		75,800		570,658		-
		2,415,523		5,053,623		-
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,662,486		6,088,329		-
Other partners		(474,772)		(2,169,455)		-
		1,187,714		3,918,874		-
	$	3,603,237	$	8,972,497	$	-

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 40		Series 41		Series 42
ASSETS
Buildings and improvements, net of accumulated depreciation	$	11,886,926	$	15,806,500	$	18,204,788
Land		533,804		2,809,784		4,017,885
Other assets		1,262,627		3,213,204		3,343,171
	$	13,683,357	$	21,829,488	$	25,565,844
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	8,860,117	$	20,947,647	$	22,140,649
Accounts payable and accrued expenses		950,497		949,825		2,232,722
Other liabilities		1,304,968		1,063,816		1,866,089
		11,115,582		22,961,288		26,239,460
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,479,283		(171,386)		39,384
Other partners		88,492		(960,414)		(713,000)
		2,567,775		(1,131,800)		(673,616)
	$	13,683,357	$	21,829,488	$	25,565,844

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 43		Series 44		Series 45
ASSETS
Buildings and improvements, net of accumulated depreciation	$	24,334,517	$	30,064,552	$	36,333,189
Land		2,922,696		3,008,317		3,549,710
Other assets		3,682,350		3,564,066		6,347,963
	$	30,939,563	$	36,636,935	$	46,230,862
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	25,879,896	$	36,344,684	$	28,098,216
Accounts payable and accrued expenses		469,666		307,798		766,948
Other liabilities		3,952,081		4,931,290		2,521,398
		30,301,643		41,583,772		31,386,562
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		4,296,724		784,745		13,184,239
Other partners		(3,658,804)		(5,731,582)		1,660,061
		637,920		(4,946,837)		14,844,300
	$	30,939,563	$	36,636,935	$	46,230,862

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

	Series 46
ASSETS
Buildings and improvements, net of accumulated depreciation	$	29,899,808
Land		1,948,059
Other assets		3,483,291
	$	35,331,158
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	19,087,258
Accounts payable and accrued expenses		337,259
Other liabilities		2,642,455
		22,066,972
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		11,366,560
Other partners		1,897,626
		13,264,186
	$	35,331,158

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS

	Total		Series 20		Series 21
ASSETS
Buildings and improvements, net of accumulated depreciation	$	394,212,193	$	2,085,075	$	1,489,227
Land		41,747,860		246,238		183,210
Other assets		49,639,300		582,694		366,699
	$	485,599,353	$	2,914,007	$	2,039,136
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	348,577,513	$	3,200,912	$	2,297,325
Accounts payable and accrued expenses		16,107,662		75,817		22,623
Other liabilities		40,891,893		50,451		40,020
		405,577,068		3,327,180		2,359,968
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		61,213,116		(725,457)		(315,319)
Other partners		18,809,169		312,284		(5,513)
		80,022,285		(413,173)		(320,832)
	$	485,599,353	$	2,914,007	$	2,039,136

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 22		Series 23		Series 24
ASSETS
Buildings and improvements, net of accumulated depreciation	$	1,945,141	$	4,805,126	$	3,402,825
Land		426,603		522,075		636,838
Other assets		1,013,637		1,248,448		644,794
	$	3,385,381	$	6,575,649	$	4,684,457
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,834,362	$	4,961,827	$	5,238,205
Accounts payable and accrued expenses		88,761		157,317		118,124
Other liabilities		65,589		820,842		411,627
		3,988,712		5,939,986		5,767,956
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(560,335)		1,111,952		(1,122,338)
Other partners		(42,996)		(476,289)		38,839
		(603,331)		635,663		(1,083,499)
	$	3,385,381	$	6,575,649	$	4,684,457

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 25		Series 26		Series 27
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,013,338	$	7,274,962	$	12,049,493
Land		203,400		620,110		1,360,969
Other assets		919,878		1,105,294		1,862,638
	$	4,136,616	$	9,000,366	$	15,273,100
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,290,404	$	10,309,719	$	9,390,191
Accounts payable and accrued expenses		62,955		1,437,631		346,277
Other liabilities		31,649		1,110,272		2,149,189
		3,385,008		12,857,622		11,885,657
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		926,343		(3,453,802)		1,863,327
Other partners		(174,735)		(403,454)		1,524,116
		751,608		(3,857,256)		3,387,443
	$	4,136,616	$	9,000,366	$	15,273,100

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 28		Series 29		Series 30
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,949,712	$	9,381,511	$	6,657,707
Land		251,300		694,245		415,348
Other assets		445,890		2,959,653		831,281
	$	4,646,902	$	13,035,409	$	7,904,336
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	4,563,975	$	6,879,017	$	7,235,178
Accounts payable and accrued expenses		177,233		1,061,966		337,340
Other liabilities		1,022,213		3,393,759		699,680
		5,763,421		11,334,742		8,272,198
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(974,730)		1,386,265		(257,393)
Other partners		(141,789)		314,402		(110,469)
		(1,116,519)		1,700,667		(367,862)
	$	4,646,902	$	13,035,409	$	7,904,336

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 31		Series 32		Series 33
ASSETS
Buildings and improvements, net of accumulated depreciation	$	8,072,673	$	14,247,643	$	14,983,903
Land		725,013		1,185,852		1,328,537
Other assets		1,458,129		1,880,115		1,256,727
	$	10,255,815	$	17,313,610	$	17,569,167
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	9,530,208	$	7,147,321	$	6,828,064
Accounts payable and accrued expenses		534,648		1,213,357		623,125
Other liabilities		340,754		876,272		897,122
		10,405,610		9,236,950		8,348,311
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		216,245		5,889,306		4,341,862
Other partners		(366,040)		2,187,354		4,878,994
		(149,795)		8,076,660		9,220,856
	$	10,255,815	$	17,313,610	$	17,569,167

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 34		Series 35		Series 36
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,939,111	$	6,496,199	$	5,418,554
Land		230,576		671,988		655,300
Other assets		1,074,019		808,787		684,276
	$	6,243,706	$	7,976,974	$	6,758,130
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,273,740	$	5,448,834	$	3,488,113
Accounts payable and accrued expenses		222,965		179,364		676,964
Other liabilities		818,633		2,602,051		311,735
		4,315,338		8,230,249		4,476,812
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,168,388		230,905		1,388,775
Other partners		(240,020)		(484,180)		892,543
		1,928,368		(253,275)		2,281,318
	$	6,243,706	$	7,976,974	$	6,758,130

 

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 37		Series 38		Series 39
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,913,034	$	7,584,676	$	704,469
Land		300,501		670,346		50,000
Other assets		379,600		989,351		36,912
	$	5,593,135	$	9,244,373	$	791,381
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	2,708,987	$	4,509,814	$	705,510
Accounts payable and accrued expenses		539,389		185,976		9,232
Other liabilities		599,151		544,697		23,287
		3,847,527		5,240,487		738,029
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,851,963		6,094,607		63,441
Other partners		(106,355)		(2,090,721)		(10,089)
		1,745,608		4,003,886		53,352
	$	5,593,135	$	9,244,373	$	791,381

 

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 40		Series 41		Series 42
ASSETS
Buildings and improvements, net of accumulated depreciation	$	34,036,000	$	52,194,620	$	38,829,717
Land		3,816,175		7,423,381		5,877,411
Other assets		2,777,597		5,236,886		4,108,842
	$	40,629,772	$	64,854,887	$	48,815,970
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	32,191,614	$	53,514,163	$	34,987,875
Accounts payable and accrued expenses		1,056,318		1,675,342		2,490,974
Other liabilities		1,710,051		2,686,207		3,815,676
		34,957,983		57,875,712		41,294,525
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		3,153,815		2,012,221		2,832,203
Other partners		2,517,974		4,966,954		4,689,242
		5,671,789		6,979,175		7,521,445
	$	40,629,772	$	64,854,887	$	48,815,970

 

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 43		Series 44		Series 45
ASSETS
Buildings and improvements, net of accumulated depreciation	$	41,562,908	$	31,835,019	$	41,406,048
Land		4,306,232		3,008,317		3,989,836
Other assets		3,973,680		3,488,635		6,245,976
	$	49,842,820	$	38,331,971	$	51,641,860
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	36,674,057	$	36,988,184	$	29,953,961
Accounts payable and accrued expenses		1,350,023		318,124		815,588
Other liabilities		4,916,891		5,494,147		2,853,533
		42,940,971		42,800,455		33,623,082
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		6,395,442		934,995		14,043,755
Other partners		506,407		(5,403,479)		3,975,023
		6,901,849		(4,468,484)		18,018,778
	$	49,842,820	$	38,331,971	$	51,641,860

 

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

	Series 46
ASSETS
Buildings and improvements, net of accumulated depreciation	$	30,933,502
Land		1,948,059
Other assets		3,258,862
	$	36,140,423
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	19,425,953
Accounts payable and accrued expenses		330,229
Other liabilities		2,606,395
		22,362,577
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		11,716,680
Other partners		2,061,166
		13,777,846
	$	36,140,423

Schedule Of Summarized Statement Of Operations In Operating Partnerships [Table Text Block]

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Total		Series 20		Series 21
Revenue
Rent	$	59,398,750	$	701,243	$	-
Interest and other		2,081,320		34,131		-
		61,480,070		735,374		-
Expenses
Interest		9,976,398		40,916		-
Depreciation and amortization		15,520,004		190,051		-
Taxes and insurance		7,048,627		84,929		-
Repairs and maintenance		13,245,533		223,413		-
Operating expenses		20,924,826		280,254		-
Impairment loss		-		-		-
Other expenses		1,657,987		15,151		-
		68,373,375		834,714		-
NET INCOME (LOSS)	$	(6,893,305)	$	(99,340)	$	-
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(6,894,299)	$	(41,124)	$	-
Net income (loss) allocated to other partners	$	994	$	(58,216)	$	-

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

	Series 22		Series 23		Series 24
Revenue
Rent	$	777,464	$	676,191	$	1,046,817
Interest and other		25,569		29,562		33,804
		803,033		705,753		1,080,621
Expenses
Interest		67,480		53,752		114,978
Depreciation and amortization		166,676		147,788		327,920
Taxes and insurance		109,531		114,432		105,929
Repairs and maintenance		246,890		195,543		312,137
Operating expenses		284,562		241,378		425,363
Impairment loss		-		-		-
Other expenses		26,664		23,314		11,000
		901,803		776,207		1,297,327
NET INCOME (LOSS)	$	(98,770)	$	(70,454)	$	(216,706)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(61,031)	$	(36,752)	$	(164,872)
Net income (loss) allocated to other partners	$	(37,739)	$	(33,702)	$	(51,834)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

	Series 25		Series 26		Series 27
Revenue
Rent	$	-	$	1,404,161	$	1,102,641
Interest and other		-		19,444		33,171
		-		1,423,605		1,135,812
Expenses
Interest		-		253,767		70,722
Depreciation and amortization		-		358,807		255,283
Taxes and insurance		-		199,939		155,332
Repairs and maintenance		-		352,166		264,890
Operating expenses		-		612,472		409,198
Impairment loss		-		-		-
Other expenses		-		15,500		3,738
		-		1,792,651		1,159,163
NET INCOME (LOSS)	$	-	$	(369,046)	$	(23,351)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	-	$	(366,786)	$	(122,997)
Net income (loss) allocated to other partners	$	-	$	(2,260)	$	99,646

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

	Series 28		Series 29		Series 30
Revenue
Rent	$	975,117	$	1,634,250	$	939,076
Interest and other		47,573		51,201		23,518
		1,022,690		1,685,451		962,594
Expenses
Interest		159,861		373,340		84,542
Depreciation and amortization		228,061		354,571		242,960
Taxes and insurance		128,754		222,567		121,506
Repairs and maintenance		210,652		369,821		208,871
Operating expenses		447,746		607,139		418,238
Impairment loss		-		-		-
Other expenses		-		22,800		35,405
		1,175,074		1,950,238		1,111,522
NET INCOME (LOSS)	$	(152,384)	$	(264,787)	$	(148,928)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(195,312)	$	(282,525)	$	(144,991)
Net income (loss) allocated to other partners	$	42,928	$	17,738	$	(3,937)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

	Series 31		Series 32		Series 33
Revenue
Rent	$	1,348,492	$	2,428,492	$	2,100,839
Interest and other		43,915		52,192		69,087
		1,392,407		2,480,684		2,169,926
Expenses
Interest		105,031		417,115		332,490
Depreciation and amortization		484,843		718,635		464,936
Taxes and insurance		235,144		307,332		245,656
Repairs and maintenance		271,520		585,210		471,398
Operating expenses		801,235		818,716		731,323
Impairment loss		-		-		-
Other expenses		6,100		280,402		109,922
		1,903,873		3,127,410		2,355,725
NET INCOME (LOSS)	$	(511,466)	$	(646,726)	$	(185,799)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(508,072)	$	(529,903)	$	(166,677)
Net income (loss) allocated to other partners	$	(3,394)	$	(116,823)	$	(19,122)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 34		Series 35		Series 36
Revenue
Rent	$	990,022	$	1,109,868	$	1,404,270
Interest and other		50,401		56,608		96,136
		1,040,423		1,166,476		1,500,406
Expenses
Interest		115,831		166,488		245,431
Depreciation and amortization		274,190		322,312		400,320
Taxes and insurance		142,435		125,565		207,765
Repairs and maintenance		271,381		146,852		240,660
Operating expenses		328,145		315,137		536,516
Impairment loss		-		-		-
Other expenses		-		20,000		33,240
		1,131,982		1,096,354		1,663,932
NET INCOME (LOSS)	$	(91,559)	$	70,122	$	(163,526)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(131,700)	$	(28,464)	$	(105,544)
Net income (loss) allocated to other partners	$	40,141	$	98,586	$	(57,982)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 37		Series 38		Series 39
Revenue
Rent	$	926,321	$	1,815,067	$	-
Interest and other		94,968		32,993		-
		1,021,289		1,848,060		-
Expenses
Interest		154,787		237,109		-
Depreciation and amortization		288,474		351,840		-
Taxes and insurance		123,765		208,711		-
Repairs and maintenance		126,872		340,146		-
Operating expenses		394,926		663,366		-
Impairment loss		-		-		-
Other expenses		21,240		18,000		-
		1,110,064		1,819,172		-
NET INCOME (LOSS)	$	(88,775)	$	28,888	$	-
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(71,171)	$	(60,830)	$	-
Net income (loss) allocated to other partners	$	(17,604)	$	89,718	$	-

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 40		Series 41		Series 42
Revenue
Rent	$	2,283,836	$	4,412,627	$	5,090,021
Interest and other		62,781		84,421		137,483
		2,346,617		4,497,048		5,227,504
Expenses
Interest		409,713		839,230		1,054,603
Depreciation and amortization		658,520		959,310		1,250,104
Taxes and insurance		265,802		594,085		660,648
Repairs and maintenance		648,664		908,083		1,189,295
Operating expenses		907,664		1,295,534		1,375,366
Impairment loss		-		-		-
Other expenses		40,662		285,669		293,209
		2,931,025		4,881,911		5,823,225
NET INCOME (LOSS)	$	(584,408)	$	(384,863)	$	(595,721)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(529,771)	$	(453,901)	$	(579,351)
Net income (loss) allocated to other partners	$	(54,637)	$	69,038	$	(16,370)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 43		Series 44		Series 45
Revenue
Rent	$	5,672,841	$	7,803,146	$	7,720,272
Interest and other		322,373		299,178		181,028
		5,995,214		8,102,324		7,901,300
Expenses
Interest		859,783		1,856,141		969,028
Depreciation and amortization		1,864,267		1,852,534		2,091,134
Taxes and insurance		680,940		516,078		759,561
Repairs and maintenance		1,397,953		1,519,781		1,901,521
Operating expenses		2,113,375		2,512,418		2,804,275
Impairment loss		-		-		-
Other expenses		45,619		68,979		237,099
		6,961,937		8,325,931		8,762,618
NET INCOME (LOSS)	$	(966,723)	$	(223,607)	$	(861,318)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(638,082)	$	(407,845)	$	(897,088)
Net income (loss) allocated to other partners	$	(328,641)	$	184,238	$	35,770

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2018 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2018 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 46
Revenue
Rent	$	5,035,676
Interest and other		199,783
		5,235,459
Expenses
Interest		994,260
Depreciation and amortization		1,266,468
Taxes and insurance		732,221
Repairs and maintenance		841,814
Operating expenses		1,600,480
Impairment loss		-
Other expenses		44,274
		5,479,517
NET INCOME (LOSS)	$	(244,058)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(369,510)
Net income (loss) allocated to other partners	$	125,452

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Total		Series 20		Series 21
Revenue
Rent	$	85,755,446	$	889,757	$	493,555
Interest and other		2,943,930		51,176		3,440
		88,699,376		940,933		496,995
Expenses
Interest		17,012,370		67,782		39,664
Depreciation and amortization		22,495,020		257,685		82,880
Taxes and insurance		10,332,106		96,986		68,302
Repairs and maintenance		19,174,823		304,750		129,182
Operating expenses		29,285,986		360,239		195,717
Impairment loss		-		-		-
Other expenses		1,936,798		14,439		-
		100,237,103		1,101,881		515,745
NET INCOME (LOSS)	$	(11,537,727)	$	(160,948)	$	(18,750)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(8,901,790)	$	(106,474)	$	(39,102)
Net income (loss) allocated to other partners	$	(2,635,937)	$	(54,474)	$	20,352

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 22		Series 23		Series 24
Revenue
Rent	$	780,062	$	1,426,787	$	1,218,703
Interest and other		36,302		112,584		28,210
		816,364		1,539,371		1,246,913
Expenses
Interest		70,347		117,886		127,601
Depreciation and amortization		166,222		286,650		361,276
Taxes and insurance		110,615		155,346		117,868
Repairs and maintenance		289,406		284,376		357,522
Operating expenses		283,947		864,097		486,157
Impairment loss		-		-		-
Other expenses		13,232		14,212		11,156
		933,769		1,722,567		1,461,580
NET INCOME (LOSS)	$	(117,405)	$	(183,196)	$	(214,667)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(45,959)	$	(159,714)	$	(185,148)
Net income (loss) allocated to other partners	$	(71,446)	$	(23,482)	$	(29,519)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 25		Series 26		Series 27
Revenue
Rent	$	857,567	$	2,172,933	$	3,174,381
Interest and other		20,950		57,555		25,493
		878,517		2,230,488		3,199,874
Expenses
Interest		80,735		306,650		509,261
Depreciation and amortization		176,707		572,435		661,245
Taxes and insurance		92,956		296,029		366,487
Repairs and maintenance		188,389		687,453		605,819
Operating expenses		368,878		850,626		974,005
Impairment loss		-		-		-
Other expenses		8,814		15,500		38,677
		916,479		2,728,693		3,155,494
NET INCOME (LOSS)	$	(37,962)	$	(498,205)	$	44,380
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(112,755)	$	(500,992)	$	(164,034)
Net income (loss) allocated to other partners	$	74,793	$	2,787	$	208,414

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 28		Series 29		Series 30
Revenue
Rent	$	1,002,280	$	1,870,776	$	1,509,820
Interest and other		25,270		170,891		38,014
		1,027,550		2,041,667		1,547,834
Expenses
Interest		163,031		417,247		157,690
Depreciation and amortization		225,777		541,192		405,826
Taxes and insurance		132,749		269,958		197,172
Repairs and maintenance		213,513		457,333		335,232
Operating expenses		437,570		909,738		625,657
Impairment loss		-		-		-
Other expenses		-		20,300		9,527
		1,172,640		2,615,768		1,731,104
NET INCOME (LOSS)	$	(145,090)	$	(574,101)	$	(183,270)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(198,898)	$	(531,118)	$	(187,074)
Net income (loss) allocated to other partners	$	53,808	$	(42,983)	$	3,804

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 31		Series 32		Series 33
Revenue
Rent	$	1,706,240	$	2,847,292	$	2,625,326
Interest and other		48,995		86,930		86,895
		1,755,235		2,934,222		2,712,221
Expenses
Interest		168,268		468,653		441,719
Depreciation and amortization		573,233		816,277		707,952
Taxes and insurance		288,339		348,890		335,238
Repairs and maintenance		284,817		745,036		623,753
Operating expenses		935,094		929,535		990,872
Impairment loss		-		-		-
Other expenses		6,013		220,748		110,459
		2,255,764		3,529,139		3,209,993
NET INCOME (LOSS)	$	(500,529)	$	(594,917)	$	(497,772)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(497,487)	$	(529,907)	$	(297,842)
Net income (loss) allocated to other partners	$	(3,042)	$	(65,010)	$	(199,930)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 34		Series 35		Series 36
Revenue
Rent	$	971,745	$	1,806,433	$	1,365,067
Interest and other		35,012		69,612		90,846
		1,006,757		1,876,045		1,455,913
Expenses
Interest		104,262		290,660		257,096
Depreciation and amortization		275,627		485,344		400,786
Taxes and insurance		141,495		203,459		252,292
Repairs and maintenance		286,631		260,199		277,928
Operating expenses		326,343		620,343		434,010
Impairment loss		-		-		-
Other expenses		-		25,200		33,541
		1,134,358		1,885,205		1,655,653
NET INCOME (LOSS)	$	(127,601)	$	(9,160)	$	(199,740)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(136,875)	$	(40,749)	$	(131,250)
Net income (loss) allocated to other partners	$	9,274	$	31,589	$	(68,490)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 37		Series 38		Series 39
Revenue
Rent	$	1,039,639	$	1,774,853	$	168,432
Interest and other		102,567		21,673		-
		1,142,206		1,796,526		168,432
Expenses
Interest		160,035		247,122		6,237
Depreciation and amortization		358,716		372,627		29,091
Taxes and insurance		201,945		214,991		15,558
Repairs and maintenance		193,056		414,817		60,340
Operating expenses		402,404		633,207		70,601
Impairment loss		-		-		-
Other expenses		23,041		18,000		-
		1,339,197		1,900,764		181,827
NET INCOME (LOSS)	$	(196,991)	$	(104,238)	$	(13,395)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(141,806)	$	(144,427)	$	(13,393)
Net income (loss) allocated to other partners	$	(55,185)	$	40,189	$	(2)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 40		Series 41		Series 42
Revenue
Rent	$	7,913,892	$	12,012,632	$	7,743,859
Interest and other		203,429		279,982		260,401
		8,117,321		12,292,614		8,004,260
Expenses
Interest		2,291,713		3,221,005		1,812,102
Depreciation and amortization		1,873,123		2,810,380		2,129,667
Taxes and insurance		1,045,058		1,452,787		865,086
Repairs and maintenance		1,488,255		2,489,498		1,833,446
Operating expenses		1,783,214		3,034,020		2,567,479
Impairment loss		-		-		-
Other expenses		296,558		340,154		297,284
		8,777,921		13,347,844		9,505,064
NET INCOME (LOSS)	$	(660,600)	$	(1,055,230)	$	(1,500,804)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(695,283)	$	(535,125)	$	(678,898)
Net income (loss) allocated to other partners	$	34,683	$	(520,105)	$	(821,906)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 43		Series 44		Series 45
Revenue
Rent	$	7,766,042	$	7,687,702	$	8,007,329
Interest and other		468,895		327,166		178,014
		8,234,937		8,014,868		8,185,343
Expenses
Interest		1,506,832		1,873,630		1,104,605
Depreciation and amortization		2,528,048		1,868,001		2,250,286
Taxes and insurance		817,994		554,655		948,985
Repairs and maintenance		1,962,505		1,516,605		1,937,661
Operating expenses		3,247,142		2,660,711		2,758,102
Impairment loss		-		-		-
Other expenses		69,965		97,607		214,186
		10,132,486		8,571,209		9,213,825
NET INCOME (LOSS)	$	(1,897,549)	$	(556,341)	$	(1,028,482)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(749,824)	$	(596,043)	$	(915,282)
Net income (loss) allocated to other partners	$	(1,147,725)	$	39,702	$	(113,200)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 46
Revenue
Rent	$	4,922,342
Interest and other		113,628
		5,035,970
Expenses
Interest		1,000,537
Depreciation and amortization		1,277,967
Taxes and insurance		740,866
Repairs and maintenance		947,301
Operating expenses		1,536,278
Impairment loss		-
Other expenses		38,185
		5,541,134
NET INCOME (LOSS)	$	(505,164)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(566,331)
Net income (loss) allocated to other partners	$	61,167

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

XML

NOTES RECEIVABLE (Tables)

12 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

The notes at March 31, 2018 and 2017 by series are as follows:

	2018		2017
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		-		-
Series 30		-		-
Series 31		-		-
Series 32		-		-
Series 33		-		-
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		-
Series 38		-		-
Series 39		-		-
Series 40		-		-
Series 41		-		-
Series 42		-		22,790
Series 43		-		-
Series 44		-		-
Series 45		-		-
Series 46		-		-
	$	-	$	22,790

XML

RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Tables)

12 Months Ended

Mar. 31, 2018

Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Abstract]

Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Table Text Block]

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Total		Series 20		Series 21
Net income (loss) for financial reporting purposes	$	9,787,196	$	(6,894)	$	9,244
Operating limited partnership rents received in advance		13,134		50		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(8,810,810)		(22,179)		(250,346)
Other		14,169,885		733,304		-
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(6,894,299)		(41,124)		-
Excess of tax depreciation over book depreciation on operating limited partnership assets		(2,514,249)		401		-
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(13,573,039)		(17,657)		951,647
Income (loss) for tax return purposes, December 31, 2017	$	(7,822,182)	$	645,901	$	710,545

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 22		Series 23		Series 24
Net income (loss) for financial reporting purposes	$	(59,412)	$	943,256	$	21,331
Operating limited partnership rents received in advance		-		-		777
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		29,212		(1,156,287)		-
Other		2		(225,288)		(18,366)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(61,031)		(36,752)		(164,872)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(21,871)		(29,857)		(35,635)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(13,333)		(320,484)		(109,573)
Income (loss) for tax return purposes, December 31, 2017	$	(126,433)	$	(825,412)	$	(306,338)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 25		Series 26		Series 27
Net income (loss) for financial reporting purposes	$	34,406	$	(35,421)	$	3,225,133
Operating limited partnership rents received in advance		-		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		-		-
Other		-		1,333,631		5,285,281
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		-		(366,786)		(122,997)
Excess of tax depreciation over book depreciation on operating limited partnership assets		-		(91,645)		(35,980)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		151,588		(113,791)		(3,477,575)
Income (loss) for tax return purposes, December 31, 2017	$	185,994	$	725,988	$	4,873,862

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 28		Series 29		Series 30
Net income (loss) for financial reporting purposes	$	(69,919)	$	203,747	$	240,789
Operating limited partnership rents received in advance		-		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		80,369		(21,019)
Other		194,238		(129,500)		782,386
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(195,312)		(282,525)		(144,991)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(74,586)		(84,435)		(84,171)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(12,139)		(361,500)		(228,100)
Income (loss) for tax return purposes, December 31, 2017	$	(157,718)	$	(573,844)	$	544,894

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 31		Series 32		Series 33
Net income (loss) for financial reporting purposes	$	(75,968)	$	1,576,107	$	121,295
Operating limited partnership rents received in advance		-		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		(1,847,595)		62,127
Other		452,761		(189,392)		(59,893)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(508,072)		(529,903)		(166,677)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(104,750)		(113,242)		(106,881)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(50,514)		(971,004)		(215,225)
Income (loss) for tax return purposes, December 31, 2017	$	(286,543)	$	(2,075,029)	$	(365,254)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 34		Series 35		Series 36
Net income (loss) for financial reporting purposes	$	(73,012)	$	2,587,521	$	(60,762)
Operating limited partnership rents received in advance		-		-		2,778
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(381,229)		(551,982)		(767,505)
Other		40,711		2,508,317		21,740
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(131,700)		(28,464)		(105,544)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(67,604)		(20,415)		(29,474)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(83,107)		(3,352,191)		(64,237)
Income (loss) for tax return purposes, December 31, 2017	$	(695,941)	$	1,142,786	$	(1,003,004)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 37		Series 38		Series 39
Net income (loss) for financial reporting purposes	$	90,852	$	(46,425)	$	(48,069)
Operating limited partnership rents received in advance		11,662		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(1,530,566)		(1,497,751)		(933,785)
Other		1,023,999		1,088,875		-
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(71,171)		(60,830)		-
Excess of tax depreciation over book depreciation on operating limited partnership assets		-		(115,819)		-
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(812,963)		(709,313)		(918,718)
Income (loss) for tax return purposes, December 31, 2017	$	(1,288,187)	$	(1,341,263)	$	(1,900,572)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 40		Series 41		Series 42
Net income (loss) for financial reporting purposes	$	454,012	$	814,281	$	265,175
Operating limited partnership rents received in advance		(171)		-		(1,477)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(270,989)		(392,649)		-
Other		196,272		278,963		(15,484)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(529,771)		(453,901)		(579,351)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(137,534)		(141,798)		(119,125)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(444,218)		(593,397)		(547,917)
Income (loss) for tax return purposes, December 31, 2017	$	(732,399)	$	(488,501)	$	(998,179)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 43		Series 44		Series 45
Net income (loss) for financial reporting purposes	$	349,598	$	(227,804)	$	(276,116)
Operating limited partnership rents received in advance		(485)		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		143,797		231,224		281,324
Other		239,450		491,352		85,888
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(638,082)		(407,845)		(897,088)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(139,389)		(294,302)		(260,708)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(961,052)		(87,589)		(156,431)
Income (loss) for tax return purposes, December 31, 2017	$	(1,006,163)	$	(294,964)	$	(1,223,131)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 46
Net income (loss) for financial reporting purposes	$	(169,749)
Operating limited partnership rents received in advance		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(14,981)
Other		50,638
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(369,510)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(405,429)
Impairment loss not recognized for tax purposes		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(54,246)
Income (loss) for tax return purposes, December 31, 2017	$	(963,277)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Total		Series 20		Series 21
Net income (loss) for financial reporting purposes	$	15,103,290	$	65,321	$	(44,938)
Operating limited partnership rents received in advance		155		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(9,530,240)		24,843		(139,128)
Other		8,210,250		522,385		18,446
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(8,901,790)		(106,474)		(39,102)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(2,914,770)		(17,784)		(33,177)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(17,518,111)		(131,295)		1,060
Income (loss) for tax return purposes, December 31, 2016	$	(15,551,216)	$	356,996	$	(236,839)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 22		Series 23		Series 24
Net income (loss) for financial reporting purposes	$	(72,794)	$	402,128	$	(75,371)
Operating limited partnership rents received in advance		-		-		(358)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		29,208		37,362		-
Other		547,008		60,716		30,366
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(45,959)		(159,714)		(185,148)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(19,546)		(28,172)		(52,400)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(31,291)		(703,528)		(10,228)
Income (loss) for tax return purposes, December 31, 2016	$	406,626	$	(391,208)	$	(293,139)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 25		Series 26		Series 27
Net income (loss) for financial reporting purposes	$	(51,336)	$	(126,723)	$	2,675,164
Operating limited partnership rents received in advance		-		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		-		-
Other		65,984		708		3,509,504
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(112,755)		(500,992)		(164,034)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(61,003)		(102,807)		106,695
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(6,578)		(11,559)		(2,896,130)
Income (loss) for tax return purposes, December 31, 2016	$	(165,688)	$	(741,373)	$	3,231,199

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 28		Series 29		Series 30
Net income (loss) for financial reporting purposes	$	(64,444)	$	(173,797)	$	(103,851)
Operating limited partnership rents received in advance		-		8,486		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		(99,313)		69,684
Other		87,980		97,387		21,360
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(198,898)		(531,118)		(187,074)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(70,559)		(111,292)		(104,590)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(10,783)		217,422		(285,411)
Income (loss) for tax return purposes, December 31, 2016	$	(256,704)	$	(592,225)	$	(589,882)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 31		Series 32		Series 33
Net income (loss) for financial reporting purposes	$	698,887	$	374,024	$	(94,282)
Operating limited partnership rents received in advance		-		(1,053)		3,591
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		(593,524)		(834,408)
Other		1,772,400		76,514		116,153
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(497,487)		(529,907)		(297,842)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(120,866)		(148,783)		(122,731)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(879,687)		(580,023)		(5,328)
Income (loss) for tax return purposes, December 31, 2016	$	973,247	$	(1,402,752)	$	(1,234,847)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 34		Series 35		Series 36
Net income (loss) for financial reporting purposes	$	556,742	$	2,641,797	$	2,482,508
Operating limited partnership rents received in advance		-		2,642		(1,519)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(248,259)		(1,942,253)		(525,031)
Other		(1,066,168)		1,264,928		889,821
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(136,875)		(40,749)		(131,250)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(70,296)		(79,294)		(29,683)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(647,142)		(2,304,632)		(2,582,560)
Income (loss) for tax return purposes, December 31, 2016	$	(1,611,998)	$	(457,561)	$	102,286

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 37		Series 38		Series 39
Net income (loss) for financial reporting purposes	$	2,213,042	$	3,212,273	$	1,554,531
Operating limited partnership rents received in advance		(6,374)		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(457,692)		(504,647)		(620,973)
Other		1,380,551		2,040,553		(1,571,550)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(141,806)		(144,427)		(13,393)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(20,612)		(112,811)		(13,019)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(1,854,291)		(2,730,241)		(1,069,742)
Income (loss) for tax return purposes, December 31, 2016	$	1,112,818	$	1,760,700	$	(1,734,146)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 40		Series 41		Series 42
Net income (loss) for financial reporting purposes	$	(79,129)	$	(137,219)	$	(199,189)
Operating limited partnership rents received in advance		(2,549)		-		240
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(178,258)		124,592		(2,141,040)
Other		(2,082,251)		(176,849)		124,991
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(695,283)		(535,125)		(678,898)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(115,566)		(207,789)		(215,303)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(158,655)		(202,362)		(67,226)
Income (loss) for tax return purposes, December 31, 2016	$	(3,311,691)	$	(1,134,752)	$	(3,176,425)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 43		Series 44		Series 45
Net income (loss) for financial reporting purposes	$	(246,031)	$	(231,517)	$	(244,274)
Operating limited partnership rents received in advance		(323)		-		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(2,289,322)		239,076		282,759
Other		(137,271)		(62,471)		239,056
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(749,824)		(596,043)		(915,282)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(195,524)		(295,249)		(274,370)
Impairment loss not recognized for tax purposes		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		186,238		(128,192)		(137,774)
Income (loss) for tax return purposes, December 31, 2016	$	(3,432,057)	$	(1,074,396)	$	(1,049,885)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 46
Net income (loss) for financial reporting purposes	$	171,768
Operating limited partnership rents received in advance		(2,628)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		236,084
Other		439,999
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(566,331)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(398,239)
Impairment loss not recognized for tax purposes		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(488,173)
Income (loss) for tax return purposes, December 31, 2016	$	(607,520)

Schedule Of Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Table Text Block]

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Total		Series 20		Series 21
Investments in operating limited partnerships - tax return December 31, 2017	$	14,372,703	$	(499,918)	$	-
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		54,135,331		346,427		-
Impairment loss in investment in operating limited partnerships		(101,705,964)		(337,192)		-
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		(110,689)		(144)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		33,308,619		490,827		-
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 22		Series 23		Series 24
Investments in operating limited partnerships - tax return December 31, 2017	$	(959,438)	$	(374,542)	$	(1,497,270)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		917,196		278,856		2,244,208
Impairment loss in investment in operating limited partnerships		(325,787)		(554,366)		(1,018,072)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		(7,927)		5,691		(5,141)
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		375,956		644,361		276,275
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 25		Series 26		Series 27
Investments in operating limited partnerships - tax return December 31, 2017	$	-	$	(4,269,725)	$	337,039
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		-		3,965,540		925,221
Impairment loss in investment in operating limited partnerships		-		(902,540)		(2,626,423)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		-		(28,901)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		-		1,235,626		1,364,163
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 28		Series 29		Series 30
Investments in operating limited partnerships - tax return December 31, 2017	$	(1,677,298)	$	(809,909)	$	(797,391)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,012,890		2,943,963		1,447,713
Impairment loss in investment in operating limited partnerships		(973,150)		(2,645,150)		(1,571,164)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		(33,990)		(39,537)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		671,548		550,633		920,842
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 31		Series 32		Series 33
Investments in operating limited partnerships - tax return December 31, 2017	$	(1,472,975)	$	2,314,568	$	2,108,030
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		3,336,809		3,691,664		1,423,036
Impairment loss in investment in operating limited partnerships		(3,106,050)		(8,016,312)		(5,228,587)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		(740)		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,242,956		2,010,080		1,697,521
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 34		Series 35		Series 36
Investments in operating limited partnerships - tax return December 31, 2017	$	1,329,228	$	(1,262,041)	$	1,059,543
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,445,856		2,119,964		1,076,427
Impairment loss in investment in operating limited partnerships		(3,951,725)		(754,520)		(2,406,542)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,176,641		(103,403)		270,572
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 37		Series 38		Series 39
Investments in operating limited partnerships - tax return December 31, 2017	$	1,720,746	$	4,598,836	$	-
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,295,610		890,820		-
Impairment loss in investment in operating limited partnerships		(3,023,930)		(7,249,126)		-
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		7,574		1,759,470		-
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 40		Series 41		Series 42
Investments in operating limited partnerships - tax return December 31, 2017	$	706,370	$	(2,432,159)	$	(576,343)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,760,624		3,298,857		3,931,656
Impairment loss in investment in operating limited partnerships		(5,308,127)		(3,548,252)		(4,092,870)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,841,133		2,681,554		737,557
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 43		Series 44		Series 45
Investments in operating limited partnerships - tax return December 31, 2017	$	3,032,936	$	(1,629,402)	$	9,271,463
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		4,470,306		4,653,305		3,073,662
Impairment loss in investment in operating limited partnerships		(8,893,106)		(5,557,696)		(16,583,879)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2018		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,389,864		2,533,793		4,238,754
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 46
Investments in operating limited partnerships - tax return December 31, 2017	$	6,152,355
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,584,721
Impairment loss in investment in operating limited partnerships		(13,031,398)
Historic tax credits - cumulative		-
Less share of loss - three months ended March 31, 2018		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Other		5,294,322
Investments in operating limited partnerships - as reported	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Total		Series 20		Series 21
Investments in operating limited partnerships - tax return December 31, 2016	$	23,526,808	$	(1,140,956)	$	(984,278)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		57,696,047		1,066,850		325,745
Impairment loss in investment in operating limited partnerships		(122,872,037)		(337,192)		(38,116)
Historic tax credits - cumulative		978,267		570,617		-
Less share of loss - three months ended March 31, 2017		(183,255)		(7,136)		(15,685)
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		40,854,170		(152,183)		712,334
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 22		Series 23		Series 24
Investments in operating limited partnerships - tax return December 31, 2016	$	(876,538)	$	1,392,317	$	(1,278,780)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		856,165		970,072		2,267,378
Impairment loss in investment in operating limited partnerships		(325,787)		(2,213,351)		(1,151,381)
Historic tax credits - cumulative		223,537		-		-
Less share of loss - three months ended March 31, 2017		(7,927)		5,691		(841)
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		130,550		(154,729)		163,624
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 25		Series 26		Series 27
Investments in operating limited partnerships - tax return December 31, 2016	$	(268,984)	$	(5,065,008)	$	(1,594,442)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		456,606		4,815,872		1,317,831
Impairment loss in investment in operating limited partnerships		(1,430,062)		(1,350,275)		(3,487,976)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		(31,239)		(45,732)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,273,679		1,645,143		3,764,587
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 28		Series 29		Series 30
Investments in operating limited partnerships - tax return December 31, 2016	$	(1,601,638)	$	(313,449)	$	(1,084,631)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,819,446		3,478,199		2,083,473
Impairment loss in investment in operating limited partnerships		(930,910)		(5,444,545)		(2,194,151)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		(33,990)		(39,537)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		747,092		2,319,332		1,195,309
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 31		Series 32		Series 33
Investments in operating limited partnerships - tax return December 31, 2016	$	(1,182,450)	$	5,351,336	$	2,508,935
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		3,188,582		3,395,101		1,876,329
Impairment loss in investment in operating limited partnerships		(3,574,025)		(9,175,569)		(6,568,884)
Historic tax credits - cumulative		-		184,113		-
Less share of loss - three months ended March 31, 2017		(6,859)		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,574,752		245,019		2,183,620
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 34		Series 35		Series 36
Investments in operating limited partnerships - tax return December 31, 2016	$	1,488,403	$	(884,003)	$	1,174,145
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,354,867		2,237,121		984,727
Impairment loss in investment in operating limited partnerships		(3,951,725)		(2,462,259)		(2,406,542)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,108,455		1,109,141		247,670
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 37		Series 38		Series 39
Investments in operating limited partnerships - tax return December 31, 2016	$	1,316,599	$	5,168,309	$	767,711
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,916,369		866,648		97,796
Impairment loss in investment in operating limited partnerships		(3,922,795)		(7,194,962)		(233,531)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		689,827		1,160,005		(631,976)
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 40		Series 41		Series 42
Investments in operating limited partnerships - tax return December 31, 2016	$	1,822,558	$	(1,243,644)	$	388,430
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,230,853		3,483,277		4,285,267
Impairment loss in investment in operating limited partnerships		(5,441,719)		(5,854,800)		(7,195,970)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		1,388,308		3,615,167		2,522,273
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 43		Series 44		Series 45
Investments in operating limited partnerships - tax return December 31, 2016	$	3,816,055	$	(1,407,277)	$	10,366,187
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		4,434,039		4,416,600		2,226,331
Impairment loss in investment in operating limited partnerships		(11,001,252)		(5,442,013)		(16,541,124)
Historic tax credits - cumulative		-		-		-
Less share of loss - three months ended March 31, 2017		-		-		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-		-
Other		2,751,158		2,432,690		3,948,606
Investments in operating limited partnerships - as reported	$	-	$	-	$	-

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 46
Investments in operating limited partnerships - tax return December 31, 2016	$	6,891,901
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,244,503
Impairment loss in investment in operating limited partnerships		(13,001,121)
Historic tax credits - cumulative		-
Less share of loss - three months ended March 31, 2017		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Other		4,864,717
Investments in operating limited partnerships - as reported	$	-

XML

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	Mar. 31, 2018	Mar. 31, 2017
Capital Unit [Line Items]
Partners Capital Account Units Issued	83,651,080	83,651,080
Partners Capital Account Units Outstanding	83,175,478	83,310,666
Series Twenty [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	3,866,700	3,866,700
Partners Capital Account Units Outstanding	3,829,200	3,833,200
Series Twenty One [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	1,892,700	1,892,700
Partners Capital Account Units Outstanding	1,879,500	1,879,500
Series Twenty Two [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,564,400	2,564,400
Partners Capital Account Units Outstanding	2,550,645	2,557,045
Series Twenty Three [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	3,336,727	3,336,727
Partners Capital Account Units Outstanding	3,303,327	3,314,827
Series Twenty Four [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,169,878	2,169,878
Partners Capital Account Units Outstanding	2,152,753	2,154,253
Series Twenty Five [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	3,026,109	3,026,109
Partners Capital Account Units Outstanding	3,016,809	3,016,809
Series Twenty Six [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	3,995,900	3,995,900
Partners Capital Account Units Outstanding	3,965,400	3,977,000
Series Twenty Seven [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,460,700	2,460,700
Partners Capital Account Units Outstanding	2,443,900	2,446,400
Series Twenty Eight [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	4,000,738	4,000,738
Partners Capital Account Units Outstanding	3,984,138	3,990,738
Series Twenty Nine [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	3,991,800	3,991,800
Partners Capital Account Units Outstanding	3,955,225	3,965,300
Series Thirty [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,651,000	2,651,000
Partners Capital Account Units Outstanding	2,621,200	2,631,000
Series Thirty One [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	4,417,857	4,417,857
Partners Capital Account Units Outstanding	4,382,757	4,395,557
Series Thirty Two [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	4,754,198	4,754,198
Partners Capital Account Units Outstanding	4,736,198	4,740,198
Series Thirty Three [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,636,533	2,636,533
Partners Capital Account Units Outstanding	2,626,533	2,626,533
Series Thirty Four [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	3,529,319	3,529,319
Partners Capital Account Units Outstanding	3,509,919	3,517,419
Series Thirty Five [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	3,300,463	3,300,463
Partners Capital Account Units Outstanding	3,279,913	3,288,363
Series Thirty Six [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,106,838	2,106,838
Partners Capital Account Units Outstanding	2,092,704	2,095,704
Series Thirty Seven [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,512,500	2,512,500
Partners Capital Account Units Outstanding	2,489,100	2,495,600
Series Thirty Eight [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,543,100	2,543,100
Partners Capital Account Units Outstanding	2,538,700	2,540,100
Series Thirty Nine [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,292,151	2,292,151
Partners Capital Account Units Outstanding	2,288,351	2,288,351
Series Forty [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,630,256	2,630,256
Partners Capital Account Units Outstanding	2,621,756	2,622,756
Series Forty One [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,891,626	2,891,626
Partners Capital Account Units Outstanding	2,874,926	2,884,126
Series Forty Two [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,744,262	2,744,262
Partners Capital Account Units Outstanding	2,732,262	2,736,262
Series Forty Three [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	3,637,987	3,637,987
Partners Capital Account Units Outstanding	3,629,487	3,632,487
Series Forty Four [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,701,973	2,701,973
Partners Capital Account Units Outstanding	2,693,973	2,699,473
Series Forty Five [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	4,014,367	4,014,367
Partners Capital Account Units Outstanding	4,008,167	4,009,667
Series Forty Six [Member]
Capital Unit [Line Items]
Partners Capital Account Units Issued	2,980,998	2,980,998
Partners Capital Account Units Outstanding	2,968,635	2,971,998

XML

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - shares	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	83,276,869	83,399,076
Series Twenty [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	3,832,200	3,840,925
Series Twenty One [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	1,879,500	1,880,625
Series Twenty Two [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,555,445	2,559,111
Series Twenty Three [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	3,311,952	3,321,202
Series Twenty Four [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,153,878	2,157,722
Series Twenty Five [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	3,016,809	3,019,434
Series Twenty Six [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	3,974,100	3,981,950
Series Twenty Seven [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,445,775	2,451,725
Series Twenty Eight [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	3,989,088	3,993,363
Series Twenty Nine [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	3,962,781	3,976,625
Series Thirty [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,628,550	2,634,750
Series Thirty One [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	4,392,357	4,396,307
Series Thirty Two [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	4,739,198	4,740,573
Series Thirty Three [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,626,533	2,627,658
Series Thirty Four [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	3,515,544	3,521,619
Series Thirty Five [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	3,286,251	3,292,413
Series Thirty Six [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,094,954	2,097,579
Series Thirty Seven [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,493,975	2,504,525
Series Thirty Eight [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,539,750	2,540,100
Series Thirty Nine [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,288,351	2,289,701
Series Forty [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,622,506	2,623,506
Series Forty One [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,881,826	2,889,751
Series Forty Two [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,735,262	2,736,262
Series Forty Three [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	3,631,737	3,636,612
Series Forty Four [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,698,098	2,699,848
Series Forty Five [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	4,009,292	4,013,192
Series Forty Six [Member]
Calculation Of Net Loss Per Beneficial Assignee Partnership Unit Numerator and Denominator In Earnings Per Share [Line Items]
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	2,971,157	2,971,998

XML

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual)	12 Months Ended
	Mar. 31, 2018 USD ($) shares	Mar. 31, 2017 USD ($) shares
Organization And Summary Of Significant Accounting Policy [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	99.00%
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	1.00%
Limited Partners Capital Account Per Units	10
Units of limited partnership interest, authorized | shares	101,500,000	101,500,000
Deferred Tax Assets, Valuation Allowance | $	$ 401,577	$ 401,660
Amortization Period Of Acquisition Costs Straight Line Method	27 years 6 months

XML

RELATED PARTY TRANSACTIONS (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Related Party Transaction [Line Items]
Gross Fund Management Fee	$ 2,341,620	$ 2,983,342
Asset Management and Reporting Fee	346,665	513,479
Fund Management Fee net of Asset Management and Reporting Fee	1,994,955	2,469,863
Series Twenty [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	19,821	24,843
Asset Management and Reporting Fee	2,617	1,367
Fund Management Fee net of Asset Management and Reporting Fee	17,204	23,476
Series Twenty One [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	7,654	10,872
Asset Management and Reporting Fee	2,051	2,051
Fund Management Fee net of Asset Management and Reporting Fee	5,603	8,821
Series Twenty Two [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	29,212	29,208
Asset Management and Reporting Fee	1,100	1,100
Fund Management Fee net of Asset Management and Reporting Fee	28,112	28,108
Series Twenty Three [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	22,224	37,362
Asset Management and Reporting Fee	1,750	5,080
Fund Management Fee net of Asset Management and Reporting Fee	20,474	32,282
Series Twenty Four [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	50,352	50,352
Asset Management and Reporting Fee	4,669	10,067
Fund Management Fee net of Asset Management and Reporting Fee	45,683	40,285
Series Twenty Five [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	11,374	23,736
Asset Management and Reporting Fee	1,692	7,360
Fund Management Fee net of Asset Management and Reporting Fee	9,682	16,376
Series Twenty Six [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	76,308	93,076
Asset Management and Reporting Fee	3,841	5,341
Fund Management Fee net of Asset Management and Reporting Fee	72,467	87,735
Series Twenty Seven [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	41,073	116,442
Asset Management and Reporting Fee	10,760	16,630
Fund Management Fee net of Asset Management and Reporting Fee	30,313	99,812
Series Twenty Eight [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	35,376	44,679
Asset Management and Reporting Fee	2,000	23,000
Fund Management Fee net of Asset Management and Reporting Fee	33,376	21,679
Series Twenty Nine [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	80,369	82,187
Asset Management and Reporting Fee	19,387	7,655
Fund Management Fee net of Asset Management and Reporting Fee	60,982	74,532
Series Thirty [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	54,481	69,684
Asset Management and Reporting Fee	50,954	10,216
Fund Management Fee net of Asset Management and Reporting Fee	3,527	59,468
Series Thirty One [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	81,582	134,262
Asset Management and Reporting Fee	1,500	13,000
Fund Management Fee net of Asset Management and Reporting Fee	80,082	121,262
Series Thirty Two [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	99,208	163,266
Asset Management and Reporting Fee	19,500	18,460
Fund Management Fee net of Asset Management and Reporting Fee	79,708	144,806
Series Thirty Three [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	63,077	65,592
Asset Management and Reporting Fee	32,340	8,670
Fund Management Fee net of Asset Management and Reporting Fee	30,737	56,922
Series Thirty Four [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	49,462	70,741
Asset Management and Reporting Fee	6,200	29,315
Fund Management Fee net of Asset Management and Reporting Fee	43,262	41,426
Series Thirty Five [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	56,268	93,350
Asset Management and Reporting Fee	8,859	49,903
Fund Management Fee net of Asset Management and Reporting Fee	47,409	43,447
Series Thirty Six [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	30,504	46,580
Asset Management and Reporting Fee	1,910	41,910
Fund Management Fee net of Asset Management and Reporting Fee	28,594	4,670
Series Thirty Seven [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	46,143	117,308
Asset Management and Reporting Fee	8,018	10,518
Fund Management Fee net of Asset Management and Reporting Fee	38,125	106,790
Series Thirty Eight [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	72,936	130,774
Asset Management and Reporting Fee	10,700	27,354
Fund Management Fee net of Asset Management and Reporting Fee	62,236	103,420
Series Thirty Nine [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	5,130	56,801
Asset Management and Reporting Fee	0	4,200
Fund Management Fee net of Asset Management and Reporting Fee	5,130	52,601
Series Forty [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	111,663	137,464
Asset Management and Reporting Fee	11,475	11,425
Fund Management Fee net of Asset Management and Reporting Fee	100,188	126,039
Series Forty One [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	197,680	224,592
Asset Management and Reporting Fee	13,663	27,952
Fund Management Fee net of Asset Management and Reporting Fee	184,017	196,640
Series Forty Two [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	158,605	171,480
Asset Management and Reporting Fee	23,102	19,180
Fund Management Fee net of Asset Management and Reporting Fee	135,503	152,300
Series Forty Three [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	219,297	230,772
Asset Management and Reporting Fee	24,795	40,748
Fund Management Fee net of Asset Management and Reporting Fee	194,502	190,024
Series Forty Four [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	231,301	239,076
Asset Management and Reporting Fee	28,120	32,904
Fund Management Fee net of Asset Management and Reporting Fee	203,181	206,172
Series Forty Five [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	281,324	282,759
Asset Management and Reporting Fee	28,996	59,598
Fund Management Fee net of Asset Management and Reporting Fee	252,328	223,161
Series Forty Six [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	209,196	236,084
Asset Management and Reporting Fee	26,666	28,475
Fund Management Fee net of Asset Management and Reporting Fee	$ 182,530	$ 207,609

XML

RELATED PARTY TRANSACTIONS (Details 1) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Related Party Transaction [Line Items]
Fund management fees paid	$ 11,152,353	$ 12,513,582
Series Twenty [Member]
Related Party Transaction [Line Items]
Fund management fees paid	42,000	0
Series Twenty One [Member]
Related Party Transaction [Line Items]
Fund management fees paid	258,000	150,000
Series Twenty Two [Member]
Related Party Transaction [Line Items]
Fund management fees paid	0	0
Series Twenty Three [Member]
Related Party Transaction [Line Items]
Fund management fees paid	1,178,511	0
Series Twenty Four [Member]
Related Party Transaction [Line Items]
Fund management fees paid	50,352	50,352
Series Twenty Five [Member]
Related Party Transaction [Line Items]
Fund management fees paid	11,374	23,736
Series Twenty Six [Member]
Related Party Transaction [Line Items]
Fund management fees paid	76,308	93,076
Series Twenty Seven [Member]
Related Party Transaction [Line Items]
Fund management fees paid	41,073	116,442
Series Twenty Eight [Member]
Related Party Transaction [Line Items]
Fund management fees paid	35,376	44,679
Series Twenty Nine [Member]
Related Party Transaction [Line Items]
Fund management fees paid	0	181,500
Series Thirty [Member]
Related Party Transaction [Line Items]
Fund management fees paid	75,500	0
Series Thirty One [Member]
Related Party Transaction [Line Items]
Fund management fees paid	81,582	134,262
Series Thirty Two [Member]
Related Party Transaction [Line Items]
Fund management fees paid	1,946,803	756,790
Series Thirty Three [Member]
Related Party Transaction [Line Items]
Fund management fees paid	950	900,000
Series Thirty Four [Member]
Related Party Transaction [Line Items]
Fund management fees paid	430,691	319,000
Series Thirty Five [Member]
Related Party Transaction [Line Items]
Fund management fees paid	608,250	2,035,603
Series Thirty Six [Member]
Related Party Transaction [Line Items]
Fund management fees paid	798,009	571,611
Series Thirty Seven [Member]
Related Party Transaction [Line Items]
Fund management fees paid	1,576,709	575,000
Series Thirty Eight [Member]
Related Party Transaction [Line Items]
Fund management fees paid	1,570,687	635,421
Series Thirty Nine [Member]
Related Party Transaction [Line Items]
Fund management fees paid	938,915	677,774
Series Forty [Member]
Related Party Transaction [Line Items]
Fund management fees paid	382,652	315,722
Series Forty One [Member]
Related Party Transaction [Line Items]
Fund management fees paid	590,329	100,000
Series Forty Two [Member]
Related Party Transaction [Line Items]
Fund management fees paid	158,605	2,312,520
Series Forty Three [Member]
Related Party Transaction [Line Items]
Fund management fees paid	75,500	2,520,094
Series Forty Four [Member]
Related Party Transaction [Line Items]
Fund management fees paid	0	0
Series Forty Five [Member]
Related Party Transaction [Line Items]
Fund management fees paid	0	0
Series Forty Six [Member]
Related Party Transaction [Line Items]
Fund management fees paid	$ 224,177	$ 0

XML

RELATED PARTY TRANSACTIONS (Details 2) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	$ 220,238	$ 481,167
Series Twenty [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Twenty One [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Twenty Two [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Twenty Three [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Twenty Four [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Twenty Five [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Twenty Six [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Twenty Seven [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Twenty Eight [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Twenty Nine [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Thirty [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Thirty One [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Thirty Two [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Thirty Three [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Thirty Four [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Thirty Five [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Thirty Six [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Thirty Seven [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Thirty Eight [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Thirty Nine [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	220,455
Series Forty [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Forty One [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Forty Two [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Forty Three [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	0
Series Forty Four [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	220,238	206,053
Series Forty Five [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	0	54,659
Series Forty Six [Member]
Advances From Affiliate [Line Items]
Advances From The Affiliate Of General Partner	$ 0	$ 0

XML

RELATED PARTY TRANSACTIONS (Details 3) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	$ 487,139	$ 452,767
Series Twenty [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	15,347	16,622
Series Twenty One [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	39,308	13,370
Series Twenty Two [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	13,968	14,832
Series Twenty Three [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	14,966	16,444
Series Twenty Four [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	14,181	14,350
Series Twenty Five [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	44,888	15,309
Series Twenty Six [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	16,807	18,547
Series Twenty Seven [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	13,862	40,226
Series Twenty Eight [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	15,689	16,420
Series Twenty Nine [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	16,149	17,578
Series Thirty [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	14,096	14,993
Series Thirty One [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	16,187	18,151
Series Thirty Two [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	16,115	17,965
Series Thirty Three [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	13,619	14,218
Series Thirty Four [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	14,572	15,394
Series Thirty Five [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	14,339	15,420
Series Thirty Six [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	13,109	13,183
Series Thirty Seven [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	12,950	13,591
Series Thirty Eight [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	13,673	14,212
Series Thirty Nine [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	41,394	13,065
Series Forty [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	14,322	15,081
Series Forty One [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	15,980	16,909
Series Forty Two [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	15,406	16,382
Series Forty Three [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	16,806	18,397
Series Forty Four [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	14,185	14,621
Series Forty Five [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	19,556	20,809
Series Forty Six [Member]
General Administrative Expenses [Line Items]
General Administrative and Professional Fee Amount Paid	$ 15,665	$ 16,678

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RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Related Party Transaction [Line Items]
Percentage Of Annual Management Fee	0.50%
Accrued Management Fees	$ 29,275,035	$ 39,156,659
Series Thirty Four [Member]
Related Party Transaction [Line Items]
Repayment Of Advance From Affiliate		133,578
Series Forty Four [Member]
Related Party Transaction [Line Items]
Proceeds from Collection of Advance From An Affiliate	14,185	14,262
Series Forty Five [Member]
Related Party Transaction [Line Items]
Proceeds from Collection of Advance From An Affiliate		$ 16,568
Repayment Of Advance From Affiliate	54,659
Series Thirty Nine [Member]
Related Party Transaction [Line Items]
Repayment Of Advance From Affiliate	$ 220,455

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INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Details) - Number	Mar. 31, 2018	Mar. 31, 2017
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	169	209
Series Twenty [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	2	3
Series Twenty One [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	0	2
Series Twenty Two [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	3	3
Series Twenty Three [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	3	4
Series Twenty Four [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	5	6
Series Twenty Five [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	0	4
Series Twenty Six [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	9	13
Series Twenty Seven [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	3	5
Series Twenty Eight [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	5	5
Series Twenty Nine [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	7	8
Series Thirty [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	5	8
Series Thirty One [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	8	10
Series Thirty Two [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	6	7
Series Thirty Three [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	3	5
Series Thirty Four [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	4	4
Series Thirty Five [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	2	3
Series Thirty Six [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	3	3
Series Thirty Seven [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	1	2
Series Thirty Eight [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	4	4
Series Thirty Nine [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	0	1
Series Forty [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	9	10
Series Forty One [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	12	17
Series Forty Two [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	11	15
Series Forty Three [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	17	19
Series Forty Four [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	7	7
Series Forty Five [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	26	27
Series Forty Six [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	14	14

XML

INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Details 1)		12 Months Ended
		Mar. 31, 2018 USD ($) Number		Mar. 31, 2017 USD ($) Number
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		10		35
Sale of Underlying Operating Partnership | Number		30		14
Partnership Proceeds from Disposition * | $	[1]	$ 12,320,299		$ 18,806,644
Gain on Disposition | $		$ 12,575,304		$ 18,806,644
Series Twenty [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		0		0
Sale of Underlying Operating Partnership | Number		1		1
Partnership Proceeds from Disposition * | $	[1]	$ 42,000		$ 138,000
Gain on Disposition | $		$ 42,000		138,000
Series Twenty One [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		0
Sale of Underlying Operating Partnership | Number		2
Partnership Proceeds from Disposition * | $		$ 67,000	[1]	$ 0
Gain on Disposition | $		$ 67,000
Series Twenty Three [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		1		2
Sale of Underlying Operating Partnership | Number		0		0
Partnership Proceeds from Disposition * | $	[1]	$ 989,962		$ 488,550
Gain on Disposition | $		$ 989,962		488,550
Series Twenty Four [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		1
Sale of Underlying Operating Partnership | Number		0
Partnership Proceeds from Disposition * | $		$ 95,000	[1]	0
Gain on Disposition | $		$ 95,000
Series Twenty Five [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		0
Sale of Underlying Operating Partnership | Number		4
Partnership Proceeds from Disposition * | $		$ 97,399	[1]	$ 0
Gain on Disposition | $		$ 97,399
Series Twenty Six [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		0		1
Sale of Underlying Operating Partnership | Number		4		0
Partnership Proceeds from Disposition * | $	[1]	$ 80,000		$ 18,500
Gain on Disposition | $		$ 80,000		$ 18,500
Series Twenty Seven [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		1		1
Sale of Underlying Operating Partnership | Number		1		1
Partnership Proceeds from Disposition * | $	[1]	$ 3,291,567		$ 3,016,000
Gain on Disposition | $		3,291,567		$ 3,016,000
Series Twenty Eight [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number				1
Sale of Underlying Operating Partnership | Number				0
Partnership Proceeds from Disposition * | $		$ 0		$ 5,000	[1]
Gain on Disposition | $				5,000
Series Twenty Nine [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		1
Sale of Underlying Operating Partnership | Number		0
Partnership Proceeds from Disposition * | $		$ 296,608	[1]	0
Gain on Disposition | $		$ 303,958
Series Thirty [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		1
Sale of Underlying Operating Partnership | Number		2
Partnership Proceeds from Disposition * | $		$ 236,521	[1]	$ 0
Gain on Disposition | $		$ 276,484
Series Thirty One [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		0		7
Sale of Underlying Operating Partnership | Number		2		0
Partnership Proceeds from Disposition * | $	[1]	$ 45,000		$ 877,411
Gain on Disposition | $		$ 45,000		$ 877,411
Series Thirty Two [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		1		2
Sale of Underlying Operating Partnership | Number		0		1
Partnership Proceeds from Disposition * | $	[1]	$ 1,677,252		$ 569,552
Gain on Disposition | $		$ 1,677,252		569,552
Series Thirty Three [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		1
Sale of Underlying Operating Partnership | Number		1
Partnership Proceeds from Disposition * | $		$ 107,890	[1]	$ 0
Gain on Disposition | $		177,044
Series Thirty Four [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number				3
Sale of Underlying Operating Partnership | Number				0
Partnership Proceeds from Disposition * | $		$ 0		$ 630,691	[1]
Gain on Disposition | $				$ 630,691
Series Thirty Five [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		0		1
Sale of Underlying Operating Partnership | Number		1		2
Partnership Proceeds from Disposition * | $	[1]	$ 2,653,528		$ 2,720,765
Gain on Disposition | $		2,653,528		$ 2,720,765
Series Thirty Six [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number				3
Sale of Underlying Operating Partnership | Number				1
Partnership Proceeds from Disposition * | $		$ 0		$ 2,515,373	[1]
Gain on Disposition | $				$ 2,515,373
Series Thirty Seven [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		0		3
Sale of Underlying Operating Partnership | Number		1		1
Partnership Proceeds from Disposition * | $	[1]	$ 1,977		$ 2,349,732
Gain on Disposition | $		140,415		$ 2,349,732
Series Thirty Eight [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number				1
Sale of Underlying Operating Partnership | Number				3
Partnership Proceeds from Disposition * | $		$ 0		$ 3,273,698	[1]
Gain on Disposition | $				$ 3,273,698
Series Thirty Nine [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		0		4
Sale of Underlying Operating Partnership | Number		1		2
Partnership Proceeds from Disposition * | $	[1]	$ 17,779		$ 1,645,989
Gain on Disposition | $		$ 17,779		$ 1,645,989
Series Forty [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		0		4
Sale of Underlying Operating Partnership | Number		1		0
Partnership Proceeds from Disposition * | $	[1]	$ 588,952		$ 93,700
Gain on Disposition | $		$ 588,952		$ 93,700
Series Forty One [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		1		1
Sale of Underlying Operating Partnership | Number		4		0
Partnership Proceeds from Disposition * | $	[1]	$ 1,026,759		$ 70,500
Gain on Disposition | $		$ 1,026,859		70,500
Series Fourty Two [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		1
Sale of Underlying Operating Partnership | Number		3
Partnership Proceeds from Disposition * | $	[1]	$ 427,305
Gain on Disposition | $		$ 427,305
Series Forty Three [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		0
Sale of Underlying Operating Partnership | Number		2
Partnership Proceeds from Disposition * | $		$ 566,806	[1]	$ 0
Gain on Disposition | $		566,806
Series Forty Four [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number				0
Sale of Underlying Operating Partnership | Number				1
Partnership Proceeds from Disposition * | $		$ 0		$ 0	[1]
Gain on Disposition | $				$ 0
Series Forty Five [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		1		1
Sale of Underlying Operating Partnership | Number		0		0
Partnership Proceeds from Disposition * | $	[1]	$ 0		$ 0
Gain on Disposition | $		$ 0		$ 0
Series Forty Six [Member]
Dispositions By Series Disclosure [Line Items]
Operating Partnership Interest Transferred | Number		0		0
Sale of Underlying Operating Partnership | Number		0		1
Partnership Proceeds from Disposition * | $	[1]	$ 10,994		$ 393,183
Gain on Disposition | $		$ 10,994		$ 393,183

[1] Partnership proceeds from disposition does not include $7,350, $39,963, $69,154, $138,438 and $100 which was due to a writeoff of capital contribution payable as of March 31, 2018, for Series 29, Series 30, Series 33, Series 37 and Series 41, respectively.

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INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Details 2) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Contributions Payable [Line Items]
Capital contributions payable	$ 176,746	$ 578,113
Series Twenty [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Twenty One [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Twenty Two [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Twenty Three [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Twenty Four [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Twenty Five [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Twenty Six [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Twenty Seven [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Twenty Eight [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Twenty Nine [Member]
Contributions Payable [Line Items]
Capital contributions payable	885	8,235
Series Thirty [Member]
Contributions Payable [Line Items]
Capital contributions payable	65,176	105,139
Series Thirty One [Member]
Contributions Payable [Line Items]
Capital contributions payable	66,294	66,294
Series Thirty Two [Member]
Contributions Payable [Line Items]
Capital contributions payable	1,229	1,229
Series Thirty Three [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	69,154
Series Thirty Four [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Thirty Five [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Thirty Six [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Thirty Seven [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	138,438
Series Thirty Eight [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Thirty Nine [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Forty [Member]
Contributions Payable [Line Items]
Capital contributions payable	102	102
Series Forty One [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	100
Series Forty Two [Member]
Contributions Payable [Line Items]
Capital contributions payable	254	73,433
Series Forty Three [Member]
Contributions Payable [Line Items]
Capital contributions payable	26,082	99,265
Series Forty Four [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0
Series Forty Five [Member]
Contributions Payable [Line Items]
Capital contributions payable	16,724	16,724
Series Forty Six [Member]
Contributions Payable [Line Items]
Capital contributions payable	$ 0	$ 0

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INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Details 3) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$ 184,987,233		$ 226,703,371
Acquisition costs of operating limited partnerships	6,519,915		9,097,175
Cumulative distributions from operating limited partnerships	(1,524,276)		(1,675,040)
Cumulative impairment loss in investments in operating limited partnerships	(101,705,964)		(122,872,037)
Cumulative losses from operating limited partnerships	(88,276,908)		(111,253,469)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(752,340)		(1,145,457)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	(1,014,542)		(1,902,879)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	110,689		183,255
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(54,135,331)		(57,696,047)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	298,325		357,746
Cumulative impairment loss in investments in operating limited partnerships	101,705,964		122,872,037
Other	(1,537,638)		(1,455,539)
Equity per operating limited partnerships' combined financial statements	44,675,127	$ 44,675,127	61,213,116	$ 61,213,116
Series Twenty [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	801,709		1,140,993
Acquisition costs of operating limited partnerships	113,727		162,528
Cumulative distributions from operating limited partnerships	0		0
Cumulative impairment loss in investments in operating limited partnerships	(337,192)		(337,192)
Cumulative losses from operating limited partnerships	(578,244)		(966,329)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	144		7,136
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(346,427)		(1,066,850)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	337,192		337,192
Other	(3,038)		(2,935)
Equity per operating limited partnerships' combined financial statements	(12,129)	(12,129)	(725,457)	(725,457)
Series Twenty One [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	0		524,510
Acquisition costs of operating limited partnerships	0		85,843
Cumulative distributions from operating limited partnerships	0		(22,441)
Cumulative impairment loss in investments in operating limited partnerships	0		(38,116)
Cumulative losses from operating limited partnerships	0		(549,796)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		15,685
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	0		(325,745)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	0		38,116
Other	0		(43,375)
Equity per operating limited partnerships' combined financial statements	0	0	(315,319)	(315,319)
Series Twenty Two [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	755,045		755,045
Acquisition costs of operating limited partnerships	78,016		78,016
Cumulative distributions from operating limited partnerships	0		0
Cumulative impairment loss in investments in operating limited partnerships	(325,787)		(325,787)
Cumulative losses from operating limited partnerships	(507,274)		(507,274)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	(39,009)		(39,009)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	7,927		7,927
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(917,196)		(856,165)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	325,787		325,787
Other	1,126		1,125
Equity per operating limited partnerships' combined financial statements	(621,365)	(621,365)	(560,335)	(560,335)
Series Twenty Three [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	652,559		3,303,139
Acquisition costs of operating limited partnerships	101,606		482,854
Cumulative distributions from operating limited partnerships	0		0
Cumulative impairment loss in investments in operating limited partnerships	(554,366)		(2,213,351)
Cumulative losses from operating limited partnerships	(199,799)		(1,572,642)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	(62,597)		(62,597)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	(5,691)		(5,691)
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(278,856)		(970,072)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	34,901		34,901
Cumulative impairment loss in investments in operating limited partnerships	554,366		2,213,351
Other	(4,235)		(97,940)
Equity per operating limited partnerships' combined financial statements	237,888	237,888	1,111,952	1,111,952
Series Twenty Four [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	2,609,877		2,879,744
Acquisition costs of operating limited partnerships	270,834		310,375
Cumulative distributions from operating limited partnerships	(21,752)		(34,932)
Cumulative impairment loss in investments in operating limited partnerships	(1,018,072)		(1,151,381)
Cumulative losses from operating limited partnerships	(1,840,887)		(2,003,806)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(30,158)		(30,158)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	(91,548)		(91,548)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	5,141		841
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(2,244,208)		(2,267,378)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	6,688		6,688
Cumulative impairment loss in investments in operating limited partnerships	1,018,072		1,151,381
Other	125,715		107,836
Equity per operating limited partnerships' combined financial statements	(1,210,298)	(1,210,298)	(1,122,338)	(1,122,338)
Series Twenty Five [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	0		1,438,868
Acquisition costs of operating limited partnerships	0		167,460
Cumulative distributions from operating limited partnerships	0		(57,503)
Cumulative impairment loss in investments in operating limited partnerships	0		(1,430,062)
Cumulative losses from operating limited partnerships	0		(118,763)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		31,239
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	0		(456,606)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	0		1,430,062
Other	0		(78,352)
Equity per operating limited partnerships' combined financial statements	0	0	926,343	926,343
Series Twenty Six [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	3,935,123		5,164,819
Acquisition costs of operating limited partnerships	594,449		772,454
Cumulative distributions from operating limited partnerships	(11,745)		(30,449)
Cumulative impairment loss in investments in operating limited partnerships	(902,540)		(1,350,275)
Cumulative losses from operating limited partnerships	(3,615,287)		(4,556,549)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(51,000)		(51,000)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	(38,119)		(59,837)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	28,901		45,732
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(3,965,540)		(4,815,872)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	171,816		171,816
Cumulative impairment loss in investments in operating limited partnerships	902,540		1,350,275
Other	(88,729)		(94,916)
Equity per operating limited partnerships' combined financial statements	(3,040,131)	(3,040,131)	(3,453,802)	(3,453,802)
Series Twenty Seven [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	3,133,255		5,994,660
Acquisition costs of operating limited partnerships	387,469		813,797
Cumulative distributions from operating limited partnerships	0		(1,096)
Cumulative impairment loss in investments in operating limited partnerships	(2,626,423)		(3,487,976)
Cumulative losses from operating limited partnerships	(894,301)		(3,319,385)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	(222,527)		(222,527)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(925,221)		(1,317,831)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	2,626,423		3,487,976
Other	(105,509)		(84,291)
Equity per operating limited partnerships' combined financial statements	1,373,166	1,373,166	1,863,327	1,863,327
Series Twenty Eight [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	2,736,848		2,736,848
Acquisition costs of operating limited partnerships	388,894		388,894
Cumulative distributions from operating limited partnerships	(5,079)		(5,079)
Cumulative impairment loss in investments in operating limited partnerships	(973,150)		(930,910)
Cumulative losses from operating limited partnerships	(2,147,513)		(2,189,753)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(12,030)		(12,030)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	(62,189)		(62,189)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	33,990		33,990
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(2,012,890)		(1,819,446)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	973,150		930,910
Other	(47,411)		(45,965)
Equity per operating limited partnerships' combined financial statements	(1,127,380)	(1,127,380)	(974,730)	(974,730)
Series Twenty Nine [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	6,015,021		9,231,659
Acquisition costs of operating limited partnerships	869,863		1,333,588
Cumulative distributions from operating limited partnerships	(14,324)		(14,324)
Cumulative impairment loss in investments in operating limited partnerships	(2,645,150)		(5,444,545)
Cumulative losses from operating limited partnerships	(4,225,410)		(5,106,378)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	(132,403)		(596,128)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	39,537		39,537
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(2,943,963)		(3,478,199)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	(316)		7,039
Cumulative impairment loss in investments in operating limited partnerships	2,645,150		5,444,545
Other	(33,985)		(30,529)
Equity per operating limited partnerships' combined financial statements	(425,980)	(425,980)	1,386,265	1,386,265
Series Thirty [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	3,419,639		5,493,284
Acquisition costs of operating limited partnerships	370,248		667,262
Cumulative distributions from operating limited partnerships	(22,837)		(29,318)
Cumulative impairment loss in investments in operating limited partnerships	(1,571,164)		(2,194,151)
Cumulative losses from operating limited partnerships	(2,195,886)		(3,937,077)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(71,585)		(112,197)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		(235,701)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(1,447,713)		(2,083,473)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	1,092		1,092
Cumulative impairment loss in investments in operating limited partnerships	1,571,164		2,194,151
Other	(12,117)		(21,265)
Equity per operating limited partnerships' combined financial statements	40,841	40,841	(257,393)	(257,393)
Series Thirty One [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	5,325,826		5,898,003
Acquisition costs of operating limited partnerships	744,060		826,360
Cumulative distributions from operating limited partnerships	(29,962)		(31,355)
Cumulative impairment loss in investments in operating limited partnerships	(3,106,050)		(3,574,025)
Cumulative losses from operating limited partnerships	(2,933,874)		(3,118,983)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(47,462)		(47,462)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	(77,600)		(77,600)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	740		6,859
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(3,336,809)		(3,188,582)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	3,106,050		3,574,025
Other	(44,918)		(50,995)
Equity per operating limited partnerships' combined financial statements	(399,999)	(399,999)	216,245	216,245
Series Thirty Two [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	12,481,943		14,149,131
Acquisition costs of operating limited partnerships	1,405,649		1,645,450
Cumulative distributions from operating limited partnerships	(44,114)		(45,614)
Cumulative impairment loss in investments in operating limited partnerships	(8,016,312)		(9,175,569)
Cumulative losses from operating limited partnerships	(5,827,166)		(6,573,398)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(160,172)		(172,318)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(3,691,664)		(3,395,101)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	29,991		29,991
Cumulative impairment loss in investments in operating limited partnerships	8,016,312		9,175,569
Other	225,300		251,165
Equity per operating limited partnerships' combined financial statements	4,419,767	4,419,767	5,889,306	5,889,306
Series Thirty Three [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	6,465,137		8,367,365
Acquisition costs of operating limited partnerships	783,763		950,957
Cumulative distributions from operating limited partnerships	(3,170)		(3,170)
Cumulative impairment loss in investments in operating limited partnerships	(5,228,587)		(6,568,884)
Cumulative losses from operating limited partnerships	(2,017,143)		(2,746,268)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(81,443)		(179,468)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		(167,193)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(1,423,036)		(1,876,329)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		9,684
Cumulative impairment loss in investments in operating limited partnerships	5,228,587		6,568,884
Other	(18,341)		(13,716)
Equity per operating limited partnerships' combined financial statements	3,705,767	3,705,767	4,341,862	4,341,862
Series Thirty Four [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	6,257,458		6,257,458
Acquisition costs of operating limited partnerships	411,337		411,337
Cumulative distributions from operating limited partnerships	(20,308)		(20,308)
Cumulative impairment loss in investments in operating limited partnerships	(3,951,725)		(3,951,725)
Cumulative losses from operating limited partnerships	(2,696,762)		(2,696,762)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	(288,550)		(288,550)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(1,445,856)		(1,354,867)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	3,951,725		3,951,725
Other	(143,671)		(139,920)
Equity per operating limited partnerships' combined financial statements	2,073,648	2,073,648	2,168,388	2,168,388
Series Thirty Five [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	2,705,747		5,386,247
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	0		(2,459)
Cumulative impairment loss in investments in operating limited partnerships	(754,520)		(2,462,259)
Cumulative losses from operating limited partnerships	(1,951,227)		(2,921,529)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(2,119,964)		(2,237,121)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	3,300		3,300
Cumulative impairment loss in investments in operating limited partnerships	754,520		2,462,259
Other	5		2,467
Equity per operating limited partnerships' combined financial statements	(1,362,139)	(1,362,139)	230,905	230,905
Series Thirty Six [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	4,276,900		4,276,900
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	(27,291)		(27,291)
Cumulative impairment loss in investments in operating limited partnerships	(2,406,542)		(2,406,542)
Cumulative losses from operating limited partnerships	(1,843,067)		(1,843,067)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(1,076,427)		(984,727)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	2,406,542		2,406,542
Other	(37,008)		(33,040)
Equity per operating limited partnerships' combined financial statements	1,293,107	1,293,107	1,388,775	1,388,775
Series Thirty Seven [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	6,003,938		7,549,550
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	(65,908)		(65,908)
Cumulative impairment loss in investments in operating limited partnerships	(3,023,930)		(3,922,795)
Cumulative losses from operating limited partnerships	(2,914,100)		(3,560,847)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		(155,365)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(1,295,610)		(1,916,369)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		13,201
Cumulative impairment loss in investments in operating limited partnerships	3,023,930		3,922,795
Other	(65,834)		(12,299)
Equity per operating limited partnerships' combined financial statements	1,662,486	1,662,486	1,851,963	1,851,963
Series Thirty Eight [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	9,815,140		9,815,140
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	(359,635)		(359,635)
Cumulative impairment loss in investments in operating limited partnerships	(7,249,126)		(7,194,962)
Cumulative losses from operating limited partnerships	(2,206,379)		(2,260,543)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(890,820)		(866,648)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	7,249,126		7,194,962
Other	(269,977)		(233,707)
Equity per operating limited partnerships' combined financial statements	6,088,329	6,088,329	6,094,607	6,094,607
Series Thirty Nine [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	0		671,150
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	0		0
Cumulative impairment loss in investments in operating limited partnerships	0		(233,531)
Cumulative losses from operating limited partnerships	0		(437,619)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	0		(97,796)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	0		233,531
Other	0		(72,294)
Equity per operating limited partnerships' combined financial statements	0	0	63,441	63,441
Series Forty [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	10,870,415		11,579,898
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	(22,466)		(22,466)
Cumulative impairment loss in investments in operating limited partnerships	(5,308,127)		(5,441,719)
Cumulative losses from operating limited partnerships	(5,539,822)		(6,115,713)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(16,841)		(16,841)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(2,760,624)		(2,230,853)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	22,950		32,119
Cumulative impairment loss in investments in operating limited partnerships	5,308,127		5,441,719
Other	(74,329)		(72,329)
Equity per operating limited partnerships' combined financial statements	2,479,283	2,479,283	3,153,815	3,153,815
Series Forty One [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	9,423,231		15,436,181
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	(28,546)		(38,570)
Cumulative impairment loss in investments in operating limited partnerships	(3,548,252)		(5,854,800)
Cumulative losses from operating limited partnerships	(5,846,433)		(9,542,811)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(33,807)		(33,807)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(3,298,857)		(3,483,277)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	3,548,252		5,854,800
Other	(386,974)		(325,495)
Equity per operating limited partnerships' combined financial statements	(171,386)	(171,386)	2,012,221	2,012,221
Series Forty Two [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	9,955,057		16,067,004
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	(13,231)		(20,956)
Cumulative impairment loss in investments in operating limited partnerships	(4,092,870)		(7,195,970)
Cumulative losses from operating limited partnerships	(5,848,956)		(8,850,078)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(76,678)		(76,678)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(3,931,656)		(4,285,267)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		20,012
Cumulative impairment loss in investments in operating limited partnerships	4,092,870		7,195,970
Other	(45,152)		(21,834)
Equity per operating limited partnerships' combined financial statements	39,384	39,384	2,832,203	2,832,203
Series Forty Three [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	18,263,440		23,300,481
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	(264,057)		(271,984)
Cumulative impairment loss in investments in operating limited partnerships	(8,893,106)		(11,001,252)
Cumulative losses from operating limited partnerships	(9,106,277)		(12,027,245)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(34,350)		(121,319)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(4,470,306)		(4,434,039)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	8,893,106		11,001,252
Other	(91,726)		(50,452)
Equity per operating limited partnerships' combined financial statements	4,296,724	4,296,724	6,395,442	6,395,442
Series Forty Four [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	13,739,925		13,739,925
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	(49,115)		(49,115)
Cumulative impairment loss in investments in operating limited partnerships	(5,557,696)		(5,442,013)
Cumulative losses from operating limited partnerships	(8,133,114)		(8,248,797)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	0		0
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(4,653,305)		(4,416,600)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	0		0
Cumulative impairment loss in investments in operating limited partnerships	5,557,696		5,442,013
Other	(119,646)		(90,418)
Equity per operating limited partnerships' combined financial statements	784,745	784,745	934,995	934,995
Series Forty Five [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	25,399,407		25,600,776
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	(320,357)		(320,688)
Cumulative impairment loss in investments in operating limited partnerships	(16,583,879)		(16,541,124)
Cumulative losses from operating limited partnerships	(8,495,171)		(8,738,964)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(129,725)		(129,725)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(3,073,662)		(2,226,331)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	23,309		23,309
Cumulative impairment loss in investments in operating limited partnerships	16,583,879		16,541,124
Other	(219,562)		(164,622)
Equity per operating limited partnerships' combined financial statements	13,184,239	13,184,239	14,043,755	14,043,755
Series Forty Six [Member]
Funds Investments In Operating Limited Partnerships [Line Items]
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	19,944,593		19,944,593
Acquisition costs of operating limited partnerships	0		0
Cumulative distributions from operating limited partnerships	(200,379)		(200,379)
Cumulative impairment loss in investments in operating limited partnerships	(13,031,398)		(13,001,121)
Cumulative losses from operating limited partnerships	(6,712,816)		(6,743,093)
Investments in operating limited partnerships per balance sheet	0		0
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).	(7,089)		(7,089)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).	0		0
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).	0		0
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).	(1,584,721)		(1,244,503)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).	4,594		4,594
Cumulative impairment loss in investments in operating limited partnerships	13,031,398		13,001,121
Other	(77,622)		(37,443)
Equity per operating limited partnerships' combined financial statements	$ 11,366,560	$ 11,366,560	$ 11,716,680	$ 11,716,680

XML

INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Details 4) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Buildings and improvements, net of accumulated depreciation		$ 249,209,773		$ 394,212,193
Land		27,147,517		41,747,860
Other assets		39,106,718		49,639,300
Total Assets		315,464,008		485,599,353
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		234,642,083		348,577,513
Accounts payable and accrued expenses		12,444,674		16,107,662
Other liabilities		29,381,746		40,891,893
Liabilities		276,468,503		405,577,068
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	$ 44,675,127	44,675,127	$ 61,213,116	61,213,116
Other partners		(5,679,622)		18,809,169
Partners Capital		38,995,505		80,022,285
Liabilities and Stockholders Equity		315,464,008		485,599,353
Series Twenty [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		1,460,271		2,085,075
Land		121,238		246,238
Other assets		541,654		582,694
Total Assets		2,123,163		2,914,007
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		1,827,138		3,200,912
Accounts payable and accrued expenses		82,131		75,817
Other liabilities		44,740		50,451
Liabilities		1,954,009		3,327,180
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	(12,129)	(12,129)	(725,457)	(725,457)
Other partners		181,283		312,284
Partners Capital		169,154		(413,173)
Liabilities and Stockholders Equity		2,123,163		2,914,007
Series Twenty One [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		0		1,489,227
Land		0		183,210
Other assets		0		366,699
Total Assets		0		2,039,136
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		0		2,297,325
Accounts payable and accrued expenses		0		22,623
Other liabilities		0		40,020
Liabilities		0		2,359,968
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	0	0	(315,319)	(315,319)
Other partners		0		(5,513)
Partners Capital		0		(320,832)
Liabilities and Stockholders Equity		0		2,039,136
Series Twenty Two [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		1,793,608		1,945,141
Land		426,603		426,603
Other assets		1,033,547		1,013,637
Total Assets		3,253,758		3,385,381
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		3,791,955		3,834,362
Accounts payable and accrued expenses		112,473		88,761
Other liabilities		51,431		65,589
Liabilities		3,955,859		3,988,712
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	(621,365)	(621,365)	(560,335)	(560,335)
Other partners		(80,736)		(42,996)
Partners Capital		(702,101)		(603,331)
Liabilities and Stockholders Equity		3,253,758		3,385,381
Series Twenty Three [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		2,046,782		4,805,126
Land		389,075		522,075
Other assets		991,609		1,248,448
Total Assets		3,427,466		6,575,649
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		3,088,788		4,961,827
Accounts payable and accrued expenses		99,536		157,317
Other liabilities		38,141		820,842
Liabilities		3,226,465		5,939,986
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	237,888	237,888	1,111,952	1,111,952
Other partners		(36,887)		(476,289)
Partners Capital		201,001		635,663
Liabilities and Stockholders Equity		3,427,466		6,575,649
Series Twenty Four [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		2,369,663		3,402,825
Land		527,938		636,838
Other assets		447,400		644,794
Total Assets		3,345,001		4,684,457
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		4,032,540		5,238,205
Accounts payable and accrued expenses		132,642		118,124
Other liabilities		408,586		411,627
Liabilities		4,573,768		5,767,956
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	(1,210,298)	(1,210,298)	(1,122,338)	(1,122,338)
Other partners		(18,469)		38,839
Partners Capital		(1,228,767)		(1,083,499)
Liabilities and Stockholders Equity		3,345,001		4,684,457
Series Twenty Five [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		0		3,013,338
Land		0		203,400
Other assets		0		919,878
Total Assets		0		4,136,616
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		0		3,290,404
Accounts payable and accrued expenses		0		62,955
Other liabilities		0		31,649
Liabilities		0		3,385,008
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	0	0	926,343	926,343
Other partners		0		(174,735)
Partners Capital		0		751,608
Liabilities and Stockholders Equity		0		4,136,616
Series Twenty Six [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		4,879,803		7,274,962
Land		462,610		620,110
Other assets		772,068		1,105,294
Total Assets		6,114,481		9,000,366
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		6,904,332		10,309,719
Accounts payable and accrued expenses		1,486,077		1,437,631
Other liabilities		1,095,335		1,110,272
Liabilities		9,485,744		12,857,622
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	(3,040,131)	(3,040,131)	(3,453,802)	(3,453,802)
Other partners		(331,132)		(403,454)
Partners Capital		(3,371,263)		(3,857,256)
Liabilities and Stockholders Equity		6,114,481		9,000,366
Series Twenty Seven [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		4,254,056		12,049,493
Land		410,981		1,360,969
Other assets		400,890		1,862,638
Total Assets		5,065,927		15,273,100
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		2,409,239		9,390,191
Accounts payable and accrued expenses		235,966		346,277
Other liabilities		460,815		2,149,189
Liabilities		3,106,020		11,885,657
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	1,373,166	1,373,166	1,863,327	1,863,327
Other partners		586,741		1,524,116
Partners Capital		1,959,907		3,387,443
Liabilities and Stockholders Equity		5,065,927		15,273,100
Series Twenty Eight [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		3,755,398		3,949,712
Land		251,300		251,300
Other assets		482,629		445,890
Total Assets		4,489,327		4,646,902
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		4,478,673		4,563,975
Accounts payable and accrued expenses		169,655		177,233
Other liabilities		1,115,613		1,022,213
Liabilities		5,763,941		5,763,421
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	(1,127,380)	(1,127,380)	(974,730)	(974,730)
Other partners		(147,234)		(141,789)
Partners Capital		(1,274,614)		(1,116,519)
Liabilities and Stockholders Equity		4,489,327		4,646,902
Series Twenty Nine [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		6,106,858		9,381,511
Land		414,245		694,245
Other assets		1,056,737		2,959,653
Total Assets		7,577,840		13,035,409
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		5,671,239		6,879,017
Accounts payable and accrued expenses		874,253		1,061,966
Other liabilities		1,747,302		3,393,759
Liabilities		8,292,794		11,334,742
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	(425,980)	(425,980)	1,386,265	1,386,265
Other partners		(288,974)		314,402
Partners Capital		(714,954)		1,700,667
Liabilities and Stockholders Equity		7,577,840		13,035,409
Series Thirty [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		4,315,605		6,657,707
Land		305,500		415,348
Other assets		671,879		831,281
Total Assets		5,292,984		7,904,336
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		4,454,001		7,235,178
Accounts payable and accrued expenses		236,951		337,340
Other liabilities		413,484		699,680
Liabilities		5,104,436		8,272,198
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	40,841	40,841	(257,393)	(257,393)
Other partners		147,707		(110,469)
Partners Capital		188,548		(367,862)
Liabilities and Stockholders Equity		5,292,984		7,904,336
Series Thirty One [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		6,411,391		8,072,673
Land		679,013		725,013
Other assets		1,227,670		1,458,129
Total Assets		8,318,074		10,255,815
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		8,155,638		9,530,208
Accounts payable and accrued expenses		562,436		534,648
Other liabilities		347,897		340,754
Liabilities		9,065,971		10,405,610
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	(399,999)	(399,999)	216,245	216,245
Other partners		(347,898)		(366,040)
Partners Capital		(747,897)		(149,795)
Liabilities and Stockholders Equity		8,318,074		10,255,815
Series Thirty Two [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		12,082,984		14,247,643
Land		1,039,323		1,185,852
Other assets		1,704,002		1,880,115
Total Assets		14,826,309		17,313,610
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		6,305,907		7,147,321
Accounts payable and accrued expenses		1,134,284		1,213,357
Other liabilities		900,912		876,272
Liabilities		8,341,103		9,236,950
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	4,419,767	4,419,767	5,889,306	5,889,306
Other partners		2,065,439		2,187,354
Partners Capital		6,485,206		8,076,660
Liabilities and Stockholders Equity		14,826,309		17,313,610
Series Thirty Three [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		9,945,410		14,983,903
Land		1,048,536		1,328,537
Other assets		819,007		1,256,727
Total Assets		11,812,953		17,569,167
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		5,038,209		6,828,064
Accounts payable and accrued expenses		94,290		623,125
Other liabilities		202,248		897,122
Liabilities		5,334,747		8,348,311
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	3,705,767	3,705,767	4,341,862	4,341,862
Other partners		2,772,439		4,878,994
Partners Capital		6,478,206		9,220,856
Liabilities and Stockholders Equity		11,812,953		17,569,167
Series Thirty Four [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		4,664,921		4,939,111
Land		230,576		230,576
Other assets		1,160,601		1,074,019
Total Assets		6,056,098		6,243,706
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		3,222,586		3,273,740
Accounts payable and accrued expenses		236,580		222,965
Other liabilities		777,336		818,633
Liabilities		4,236,502		4,315,338
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	2,073,648	2,073,648	2,168,388	2,168,388
Other partners		(254,052)		(240,020)
Partners Capital		1,819,596		1,928,368
Liabilities and Stockholders Equity		6,056,098		6,243,706
Series Thirty Five [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		3,402,696		6,496,199
Land		424,178		671,988
Other assets		774,344		808,787
Total Assets		4,601,218		7,976,974
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		3,914,272		5,448,834
Accounts payable and accrued expenses		105,814		179,364
Other liabilities		2,530,084		2,602,051
Liabilities		6,550,170		8,230,249
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	(1,362,139)	(1,362,139)	230,905	230,905
Other partners		(586,813)		(484,180)
Partners Capital		(1,948,952)		(253,275)
Liabilities and Stockholders Equity		4,601,218		7,976,974
Series Thirty Six [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		5,018,234		5,418,554
Land		655,300		655,300
Other assets		692,934		684,276
Total Assets		6,366,468		6,758,130
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		3,390,303		3,488,113
Accounts payable and accrued expenses		642,979		676,964
Other liabilities		319,267		311,735
Liabilities		4,352,549		4,476,812
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	1,293,107	1,293,107	1,388,775	1,388,775
Other partners		720,812		892,543
Partners Capital		2,013,919		2,281,318
Liabilities and Stockholders Equity		6,366,468		6,758,130
Series Thirty Seven [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		2,938,976		4,913,034
Land		300,500		300,501
Other assets		363,761		379,600
Total Assets		3,603,237		5,593,135
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		2,226,066		2,708,987
Accounts payable and accrued expenses		113,657		539,389
Other liabilities		75,800		599,151
Liabilities		2,415,523		3,847,527
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	1,662,486	1,662,486	1,851,963	1,851,963
Other partners		(474,772)		(106,355)
Partners Capital		1,187,714		1,745,608
Liabilities and Stockholders Equity		3,603,237		5,593,135
Series Thirty Eight [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		7,232,837		7,584,676
Land		670,346		670,346
Other assets		1,069,314		989,351
Total Assets		8,972,497		9,244,373
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		4,372,730		4,509,814
Accounts payable and accrued expenses		110,235		185,976
Other liabilities		570,658		544,697
Liabilities		5,053,623		5,240,487
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	6,088,329	6,088,329	6,094,607	6,094,607
Other partners		(2,169,455)		(2,090,721)
Partners Capital		3,918,874		4,003,886
Liabilities and Stockholders Equity		8,972,497		9,244,373
Series Thirty Nine [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		0		704,469
Land		0		50,000
Other assets		0		36,912
Total Assets		0		791,381
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		0		705,510
Accounts payable and accrued expenses		0		9,232
Other liabilities		0		23,287
Liabilities		0		738,029
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	0	0	63,441	63,441
Other partners		0		(10,089)
Partners Capital		0		53,352
Liabilities and Stockholders Equity		0		791,381
Series Forty [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		11,886,926		34,036,000
Land		533,804		3,816,175
Other assets		1,262,627		2,777,597
Total Assets		13,683,357		40,629,772
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		8,860,117		32,191,614
Accounts payable and accrued expenses		950,497		1,056,318
Other liabilities		1,304,968		1,710,051
Liabilities		11,115,582		34,957,983
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	2,479,283	2,479,283	3,153,815	3,153,815
Other partners		88,492		2,517,974
Partners Capital		2,567,775		5,671,789
Liabilities and Stockholders Equity		13,683,357		40,629,772
Series Forty One [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		15,806,500		52,194,620
Land		2,809,784		7,423,381
Other assets		3,213,204		5,236,886
Total Assets		21,829,488		64,854,887
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		20,947,647		53,514,163
Accounts payable and accrued expenses		949,825		1,675,342
Other liabilities		1,063,816		2,686,207
Liabilities		22,961,288		57,875,712
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	(171,386)	(171,386)	2,012,221	2,012,221
Other partners		(960,414)		4,966,954
Partners Capital		(1,131,800)		6,979,175
Liabilities and Stockholders Equity		21,829,488		64,854,887
Series Forty Two [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		18,204,788		38,829,717
Land		4,017,885		5,877,411
Other assets		3,343,171		4,108,842
Total Assets		25,565,844		48,815,970
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		22,140,649		34,987,875
Accounts payable and accrued expenses		2,232,722		2,490,974
Other liabilities		1,866,089		3,815,676
Liabilities		26,239,460		41,294,525
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	39,384	39,384	2,832,203	2,832,203
Other partners		(713,000)		4,689,242
Partners Capital		(673,616)		7,521,445
Liabilities and Stockholders Equity		25,565,844		48,815,970
Series Forty Three [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		24,334,517		41,562,908
Land		2,922,696		4,306,232
Other assets		3,682,350		3,973,680
Total Assets		30,939,563		49,842,820
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		25,879,896		36,674,057
Accounts payable and accrued expenses		469,666		1,350,023
Other liabilities		3,952,081		4,916,891
Liabilities		30,301,643		42,940,971
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	4,296,724	4,296,724	6,395,442	6,395,442
Other partners		(3,658,804)		506,407
Partners Capital		637,920		6,901,849
Liabilities and Stockholders Equity		30,939,563		49,842,820
Series Forty Four [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		30,064,552		31,835,019
Land		3,008,317		3,008,317
Other assets		3,564,066		3,488,635
Total Assets		36,636,935		38,331,971
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		36,344,684		36,988,184
Accounts payable and accrued expenses		307,798		318,124
Other liabilities		4,931,290		5,494,147
Liabilities		41,583,772		42,800,455
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	784,745	784,745	934,995	934,995
Other partners		(5,731,582)		(5,403,479)
Partners Capital		(4,946,837)		(4,468,484)
Liabilities and Stockholders Equity		36,636,935		38,331,971
Series Forty Five [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		36,333,189		41,406,048
Land		3,549,710		3,989,836
Other assets		6,347,963		6,245,976
Total Assets		46,230,862		51,641,860
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		28,098,216		29,953,961
Accounts payable and accrued expenses		766,948		815,588
Other liabilities		2,521,398		2,853,533
Liabilities		31,386,562		33,623,082
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	13,184,239	13,184,239	14,043,755	14,043,755
Other partners		1,660,061		3,975,023
Partners Capital		14,844,300		18,018,778
Liabilities and Stockholders Equity		46,230,862		51,641,860
Series Forty Six [Member]
ASSETS
Buildings and improvements, net of accumulated depreciation		29,899,808		30,933,502
Land		1,948,059		1,948,059
Other assets		3,483,291		3,258,862
Total Assets		35,331,158		36,140,423
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		19,087,258		19,425,953
Accounts payable and accrued expenses		337,259		330,229
Other liabilities		2,642,455		2,606,395
Liabilities		22,066,972		22,362,577
PARTNERS' CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.	$ 11,366,560	11,366,560	$ 11,716,680	11,716,680
Other partners		1,897,626		2,061,166
Partners Capital		13,264,186		13,777,846
Liabilities and Stockholders Equity		$ 35,331,158		$ 36,140,423

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INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Details 5) - USD ($)	12 Months Ended
	Dec. 31, 2017		Dec. 31, 2016
Revenue
Rent	$ 59,398,750		$ 85,755,446
Interest and other	2,081,320		2,943,930
Operating Partnerships Revenues	61,480,070		88,699,376
Expenses
Interest	9,976,398		17,012,370
Depreciation and amortization	15,520,004		22,495,020
Taxes and insurance	7,048,627		10,332,106
Repairs and maintenance	13,245,533		19,174,823
Operating expenses	20,924,826		29,285,986
Impairment loss	0		0
Other expenses	1,657,987		1,936,798
Operating Partnerships Total Expenses	68,373,375		100,237,103
NET INCOME (LOSS)	(6,893,305)		(11,537,727)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(6,894,299)	[1]	(8,901,790)	[2]
Net income (loss) allocated to other partners	994		(2,635,937)
Series Twenty [Member]
Revenue
Rent	701,243		889,757
Interest and other	34,131		51,176
Operating Partnerships Revenues	735,374		940,933
Expenses
Interest	40,916		67,782
Depreciation and amortization	190,051		257,685
Taxes and insurance	84,929		96,986
Repairs and maintenance	223,413		304,750
Operating expenses	280,254		360,239
Impairment loss	0		0
Other expenses	15,151		14,439
Operating Partnerships Total Expenses	834,714		1,101,881
NET INCOME (LOSS)	(99,340)		(160,948)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(41,124)	[1]	(106,474)	[2]
Net income (loss) allocated to other partners	(58,216)		(54,474)
Series Twenty One [Member]
Revenue
Rent	0		493,555
Interest and other	0		3,440
Operating Partnerships Revenues	0		496,995
Expenses
Interest	0		39,664
Depreciation and amortization	0		82,880
Taxes and insurance	0		68,302
Repairs and maintenance	0		129,182
Operating expenses	0		195,717
Impairment loss	0		0
Other expenses	0		0
Operating Partnerships Total Expenses	0		515,745
NET INCOME (LOSS)	0		(18,750)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	0	[1]	(39,102)	[2]
Net income (loss) allocated to other partners	0		20,352
Series Twenty Two [Member]
Revenue
Rent	777,464		780,062
Interest and other	25,569		36,302
Operating Partnerships Revenues	803,033		816,364
Expenses
Interest	67,480		70,347
Depreciation and amortization	166,676		166,222
Taxes and insurance	109,531		110,615
Repairs and maintenance	246,890		289,406
Operating expenses	284,562		283,947
Impairment loss	0		0
Other expenses	26,664		13,232
Operating Partnerships Total Expenses	901,803		933,769
NET INCOME (LOSS)	(98,770)		(117,405)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(61,031)	[1]	(45,959)	[2]
Net income (loss) allocated to other partners	(37,739)		(71,446)
Series Twenty Three [Member]
Revenue
Rent	676,191		1,426,787
Interest and other	29,562		112,584
Operating Partnerships Revenues	705,753		1,539,371
Expenses
Interest	53,752		117,886
Depreciation and amortization	147,788		286,650
Taxes and insurance	114,432		155,346
Repairs and maintenance	195,543		284,376
Operating expenses	241,378		864,097
Impairment loss	0		0
Other expenses	23,314		14,212
Operating Partnerships Total Expenses	776,207		1,722,567
NET INCOME (LOSS)	(70,454)		(183,196)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(36,752)	[1]	(159,714)	[2]
Net income (loss) allocated to other partners	(33,702)		(23,482)
Series Twenty Four [Member]
Revenue
Rent	1,046,817		1,218,703
Interest and other	33,804		28,210
Operating Partnerships Revenues	1,080,621		1,246,913
Expenses
Interest	114,978		127,601
Depreciation and amortization	327,920		361,276
Taxes and insurance	105,929		117,868
Repairs and maintenance	312,137		357,522
Operating expenses	425,363		486,157
Impairment loss	0		0
Other expenses	11,000		11,156
Operating Partnerships Total Expenses	1,297,327		1,461,580
NET INCOME (LOSS)	(216,706)		(214,667)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(164,872)	[1]	(185,148)	[2]
Net income (loss) allocated to other partners	(51,834)		(29,519)
Series Twenty Five [Member]
Revenue
Rent	0		857,567
Interest and other	0		20,950
Operating Partnerships Revenues	0		878,517
Expenses
Interest	0		80,735
Depreciation and amortization	0		176,707
Taxes and insurance	0		92,956
Repairs and maintenance	0		188,389
Operating expenses	0		368,878
Impairment loss	0		0
Other expenses	0		8,814
Operating Partnerships Total Expenses	0		916,479
NET INCOME (LOSS)	0		(37,962)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	0	[1]	(112,755)	[2]
Net income (loss) allocated to other partners	0		74,793
Series Twenty Six [Member]
Revenue
Rent	1,404,161		2,172,933
Interest and other	19,444		57,555
Operating Partnerships Revenues	1,423,605		2,230,488
Expenses
Interest	253,767		306,650
Depreciation and amortization	358,807		572,435
Taxes and insurance	199,939		296,029
Repairs and maintenance	352,166		687,453
Operating expenses	612,472		850,626
Impairment loss	0		0
Other expenses	15,500		15,500
Operating Partnerships Total Expenses	1,792,651		2,728,693
NET INCOME (LOSS)	(369,046)		(498,205)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(366,786)	[1]	(500,992)	[2]
Net income (loss) allocated to other partners	(2,260)		2,787
Series Twenty Seven [Member]
Revenue
Rent	1,102,641		3,174,381
Interest and other	33,171		25,493
Operating Partnerships Revenues	1,135,812		3,199,874
Expenses
Interest	70,722		509,261
Depreciation and amortization	255,283		661,245
Taxes and insurance	155,332		366,487
Repairs and maintenance	264,890		605,819
Operating expenses	409,198		974,005
Impairment loss	0		0
Other expenses	3,738		38,677
Operating Partnerships Total Expenses	1,159,163		3,155,494
NET INCOME (LOSS)	(23,351)		44,380
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(122,997)	[1]	(164,034)	[2]
Net income (loss) allocated to other partners	99,646		208,414
Series Twenty Eight [Member]
Revenue
Rent	975,117		1,002,280
Interest and other	47,573		25,270
Operating Partnerships Revenues	1,022,690		1,027,550
Expenses
Interest	159,861		163,031
Depreciation and amortization	228,061		225,777
Taxes and insurance	128,754		132,749
Repairs and maintenance	210,652		213,513
Operating expenses	447,746		437,570
Impairment loss	0		0
Other expenses	0		0
Operating Partnerships Total Expenses	1,175,074		1,172,640
NET INCOME (LOSS)	(152,384)		(145,090)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(195,312)	[1]	(198,898)
Net income (loss) allocated to other partners	42,928		53,808
Series Twenty Nine [Member]
Revenue
Rent	1,634,250		1,870,776
Interest and other	51,201		170,891
Operating Partnerships Revenues	1,685,451		2,041,667
Expenses
Interest	373,340		417,247
Depreciation and amortization	354,571		541,192
Taxes and insurance	222,567		269,958
Repairs and maintenance	369,821		457,333
Operating expenses	607,139		909,738
Impairment loss	0		0
Other expenses	22,800		20,300
Operating Partnerships Total Expenses	1,950,238		2,615,768
NET INCOME (LOSS)	(264,787)		(574,101)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(282,525)	[1]	(531,118)
Net income (loss) allocated to other partners	17,738		(42,983)
Series Thirty [Member]
Revenue
Rent	939,076		1,509,820
Interest and other	23,518		38,014
Operating Partnerships Revenues	962,594		1,547,834
Expenses
Interest	84,542		157,690
Depreciation and amortization	242,960		405,826
Taxes and insurance	121,506		197,172
Repairs and maintenance	208,871		335,232
Operating expenses	418,238		625,657
Impairment loss	0		0
Other expenses	35,405		9,527
Operating Partnerships Total Expenses	1,111,522		1,731,104
NET INCOME (LOSS)	(148,928)		(183,270)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(144,991)	[1]	(187,074)
Net income (loss) allocated to other partners	(3,937)		3,804
Series Thirty One [Member]
Revenue
Rent	1,348,492		1,706,240
Interest and other	43,915		48,995
Operating Partnerships Revenues	1,392,407		1,755,235
Expenses
Interest	105,031		168,268
Depreciation and amortization	484,843		573,233
Taxes and insurance	235,144		288,339
Repairs and maintenance	271,520		284,817
Operating expenses	801,235		935,094
Impairment loss	0		0
Other expenses	6,100		6,013
Operating Partnerships Total Expenses	1,903,873		2,255,764
NET INCOME (LOSS)	(511,466)		(500,529)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(508,072)	[1]	(497,487)	[2]
Net income (loss) allocated to other partners	(3,394)		(3,042)
Series Thirty Two [Member]
Revenue
Rent	2,428,492		2,847,292
Interest and other	52,192		86,930
Operating Partnerships Revenues	2,480,684		2,934,222
Expenses
Interest	417,115		468,653
Depreciation and amortization	718,635		816,277
Taxes and insurance	307,332		348,890
Repairs and maintenance	585,210		745,036
Operating expenses	818,716		929,535
Impairment loss	0		0
Other expenses	280,402		220,748
Operating Partnerships Total Expenses	3,127,410		3,529,139
NET INCOME (LOSS)	(646,726)		(594,917)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(529,903)	[1]	(529,907)	[2]
Net income (loss) allocated to other partners	(116,823)		(65,010)
Series Thirty Three [Member]
Revenue
Rent	2,100,839		2,625,326
Interest and other	69,087		86,895
Operating Partnerships Revenues	2,169,926		2,712,221
Expenses
Interest	332,490		441,719
Depreciation and amortization	464,936		707,952
Taxes and insurance	245,656		335,238
Repairs and maintenance	471,398		623,753
Operating expenses	731,323		990,872
Impairment loss	0		0
Other expenses	109,922		110,459
Operating Partnerships Total Expenses	2,355,725		3,209,993
NET INCOME (LOSS)	(185,799)		(497,772)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(166,677)	[1]	(297,842)	[2]
Net income (loss) allocated to other partners	(19,122)		(199,930)
Series Thirty Four [Member]
Revenue
Rent	990,022		971,745
Interest and other	50,401		35,012
Operating Partnerships Revenues	1,040,423		1,006,757
Expenses
Interest	115,831		104,262
Depreciation and amortization	274,190		275,627
Taxes and insurance	142,435		141,495
Repairs and maintenance	271,381		286,631
Operating expenses	328,145		326,343
Impairment loss	0		0
Other expenses	0		0
Operating Partnerships Total Expenses	1,131,982		1,134,358
NET INCOME (LOSS)	(91,559)		(127,601)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(131,700)	[1]	(136,875)	[2]
Net income (loss) allocated to other partners	40,141		9,274
Series Thirty Five [Member]
Revenue
Rent	1,109,868		1,806,433
Interest and other	56,608		69,612
Operating Partnerships Revenues	1,166,476		1,876,045
Expenses
Interest	166,488		290,660
Depreciation and amortization	322,312		485,344
Taxes and insurance	125,565		203,459
Repairs and maintenance	146,852		260,199
Operating expenses	315,137		620,343
Impairment loss	0		0
Other expenses	20,000		25,200
Operating Partnerships Total Expenses	1,096,354		1,885,205
NET INCOME (LOSS)	70,122		(9,160)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(28,464)	[1]	(40,749)	[2]
Net income (loss) allocated to other partners	98,586		31,589
Series Thirty Six [Member]
Revenue
Rent	1,404,270		1,365,067
Interest and other	96,136		90,846
Operating Partnerships Revenues	1,500,406		1,455,913
Expenses
Interest	245,431		257,096
Depreciation and amortization	400,320		400,786
Taxes and insurance	207,765		252,292
Repairs and maintenance	240,660		277,928
Operating expenses	536,516		434,010
Impairment loss	0		0
Other expenses	33,240		33,541
Operating Partnerships Total Expenses	1,663,932		1,655,653
NET INCOME (LOSS)	(163,526)		(199,740)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(105,544)	[1]	(131,250)	[2]
Net income (loss) allocated to other partners	(57,982)		(68,490)
Series Thirty Seven [Member]
Revenue
Rent	926,321		1,039,639
Interest and other	94,968		102,567
Operating Partnerships Revenues	1,021,289		1,142,206
Expenses
Interest	154,787		160,035
Depreciation and amortization	288,474		358,716
Taxes and insurance	123,765		201,945
Repairs and maintenance	126,872		193,056
Operating expenses	394,926		402,404
Impairment loss	0		0
Other expenses	21,240		23,041
Operating Partnerships Total Expenses	1,110,064		1,339,197
NET INCOME (LOSS)	(88,775)		(196,991)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(71,171)	[1]	(141,806)	[2]
Net income (loss) allocated to other partners	(17,604)		(55,185)
Series Thirty Eight [Member]
Revenue
Rent	1,815,067		1,774,853
Interest and other	32,993		21,673
Operating Partnerships Revenues	1,848,060		1,796,526
Expenses
Interest	237,109		247,122
Depreciation and amortization	351,840		372,627
Taxes and insurance	208,711		214,991
Repairs and maintenance	340,146		414,817
Operating expenses	663,366		633,207
Impairment loss	0		0
Other expenses	18,000		18,000
Operating Partnerships Total Expenses	1,819,172		1,900,764
NET INCOME (LOSS)	28,888		(104,238)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(60,830)	[1]	(144,427)	[2]
Net income (loss) allocated to other partners	89,718		40,189
Series Thirty Nine [Member]
Revenue
Rent	0		168,432
Interest and other	0		0
Operating Partnerships Revenues	0		168,432
Expenses
Interest	0		6,237
Depreciation and amortization	0		29,091
Taxes and insurance	0		15,558
Repairs and maintenance	0		60,340
Operating expenses	0		70,601
Impairment loss	0		0
Other expenses	0		0
Operating Partnerships Total Expenses	0		181,827
NET INCOME (LOSS)	0		(13,395)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	0	[1]	(13,393)	[2]
Net income (loss) allocated to other partners	0		(2)
Series Forty [Member]
Revenue
Rent	2,283,836		7,913,892
Interest and other	62,781		203,429
Operating Partnerships Revenues	2,346,617		8,117,321
Expenses
Interest	409,713		2,291,713
Depreciation and amortization	658,520		1,873,123
Taxes and insurance	265,802		1,045,058
Repairs and maintenance	648,664		1,488,255
Operating expenses	907,664		1,783,214
Impairment loss	0		0
Other expenses	40,662		296,558
Operating Partnerships Total Expenses	2,931,025		8,777,921
NET INCOME (LOSS)	(584,408)		(660,600)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(529,771)	[1]	(695,283)	[2]
Net income (loss) allocated to other partners	(54,637)		34,683
Series Forty One [Member]
Revenue
Rent	4,412,627		12,012,632
Interest and other	84,421		279,982
Operating Partnerships Revenues	4,497,048		12,292,614
Expenses
Interest	839,230		3,221,005
Depreciation and amortization	959,310		2,810,380
Taxes and insurance	594,085		1,452,787
Repairs and maintenance	908,083		2,489,498
Operating expenses	1,295,534		3,034,020
Impairment loss	0		0
Other expenses	285,669		340,154
Operating Partnerships Total Expenses	4,881,911		13,347,844
NET INCOME (LOSS)	(384,863)		(1,055,230)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(453,901)	[1]	(535,125)	[2]
Net income (loss) allocated to other partners	69,038		(520,105)
Series Forty Two [Member]
Revenue
Rent	5,090,021		7,743,859
Interest and other	137,483		260,401
Operating Partnerships Revenues	5,227,504		8,004,260
Expenses
Interest	1,054,603		1,812,102
Depreciation and amortization	1,250,104		2,129,667
Taxes and insurance	660,648		865,086
Repairs and maintenance	1,189,295		1,833,446
Operating expenses	1,375,366		2,567,479
Impairment loss	0		0
Other expenses	293,209		297,284
Operating Partnerships Total Expenses	5,823,225		9,505,064
NET INCOME (LOSS)	(595,721)		(1,500,804)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(579,351)	[1]	(678,898)	[2]
Net income (loss) allocated to other partners	(16,370)		(821,906)
Series Forty Three [Member]
Revenue
Rent	5,672,841		7,766,042
Interest and other	322,373		468,895
Operating Partnerships Revenues	5,995,214		8,234,937
Expenses
Interest	859,783		1,506,832
Depreciation and amortization	1,864,267		2,528,048
Taxes and insurance	680,940		817,994
Repairs and maintenance	1,397,953		1,962,505
Operating expenses	2,113,375		3,247,142
Impairment loss	0		0
Other expenses	45,619		69,965
Operating Partnerships Total Expenses	6,961,937		10,132,486
NET INCOME (LOSS)	(966,723)		(1,897,549)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(638,082)	[1]	(749,824)	[2]
Net income (loss) allocated to other partners	(328,641)		(1,147,725)
Series Forty Four [Member]
Revenue
Rent	7,803,146		7,687,702
Interest and other	299,178		327,166
Operating Partnerships Revenues	8,102,324		8,014,868
Expenses
Interest	1,856,141		1,873,630
Depreciation and amortization	1,852,534		1,868,001
Taxes and insurance	516,078		554,655
Repairs and maintenance	1,519,781		1,516,605
Operating expenses	2,512,418		2,660,711
Impairment loss	0		0
Other expenses	68,979		97,607
Operating Partnerships Total Expenses	8,325,931		8,571,209
NET INCOME (LOSS)	(223,607)		(556,341)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(407,845)	[1]	(596,043)	[2]
Net income (loss) allocated to other partners	184,238		39,702
Series Forty Five [Member]
Revenue
Rent	7,720,272		8,007,329
Interest and other	181,028		178,014
Operating Partnerships Revenues	7,901,300		8,185,343
Expenses
Interest	969,028		1,104,605
Depreciation and amortization	2,091,134		2,250,286
Taxes and insurance	759,561		948,985
Repairs and maintenance	1,901,521		1,937,661
Operating expenses	2,804,275		2,758,102
Impairment loss	0		0
Other expenses	237,099		214,186
Operating Partnerships Total Expenses	8,762,618		9,213,825
NET INCOME (LOSS)	(861,318)		(1,028,482)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(897,088)	[1]	(915,282)	[2]
Net income (loss) allocated to other partners	35,770		(113,200)
Series Forty Six [Member]
Revenue
Rent	5,035,676		4,922,342
Interest and other	199,783		113,628
Operating Partnerships Revenues	5,235,459		5,035,970
Expenses
Interest	994,260		1,000,537
Depreciation and amortization	1,266,468		1,277,967
Taxes and insurance	732,221		740,866
Repairs and maintenance	841,814		947,301
Operating expenses	1,600,480		1,536,278
Impairment loss	0		0
Other expenses	44,274		38,185
Operating Partnerships Total Expenses	5,479,517		5,541,134
NET INCOME (LOSS)	(244,058)		(505,164)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	(369,510)	[1]	(566,331)	[2]
Net income (loss) allocated to other partners	$ 125,452		$ 61,167

[1] Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830, $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

[2] Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

XML

INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Series Twenty [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		$ 41,124	$ 106,474
Series Twenty One [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting			39,102
Series Twenty Two [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		61,031	45,959
Series Twenty Three [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		36,752	159,714
Series Twenty Four [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		164,872	185,148
Series Twenty Five [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting			112,755
Series Twenty Six [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		366,786	500,992
Series Twenty Seven [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		122,997	164,034
Series Twenty Eight [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		195,312	198,898
Series Twenty Nine [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		282,525	531,118
Write Off Of Capital Contribution Payable	$ 7,350
Series Thirty [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		144,991	187,074
Write Off Of Capital Contribution Payable	39,963
Series Thirty One [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		508,072	497,487
Series Thirty Two [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		529,903	529,907
Series Thirty Three [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		166,677	297,842
Write Off Of Capital Contribution Payable	69,154
Series Thirty Four [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		131,700	136,875
Series Thirty Five [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		28,464	40,749
Series Thirty Six [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		105,544	131,250
Series Thirty Seven [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		71,171	141,806
Write Off Of Capital Contribution Payable	138,438
Series Thirty Eight [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		60,830	144,427
Series Thirty Nine [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting			13,393
Series Forty [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		529,771	695,283
Series Forty One [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		453,901	535,125
Write Off Of Capital Contribution Payable	$ 100
Series Forty Two [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		579,351	678,898
Series Forty Three [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		638,082	749,824
Series Forty Four [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		407,845	596,043
Series Forty Five [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		897,088	915,282
Series Forty Six [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting		$ 369,510	$ 566,331

XML

NOTES RECEIVABLE (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 0	$ 22,790
Series Twenty [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Twenty One [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Twenty Two [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Twenty Three [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Twenty Four [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Twenty Five [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Twenty Six [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Twenty Seven [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Twenty Eight [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Twenty Nine [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Thirty [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Thirty One [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Thirty Two [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Thirty Three [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Thirty Four [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Thirty Five [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Thirty Six [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Thirty Seven [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Thirty Eight [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Thirty Nine [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Forty [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Forty One [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Forty Two [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	22,790
Series Forty Three [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Forty Four [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Forty Five [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	0	0
Series Forty Six [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 0	$ 0

XML

NOTES RECEIVABLE (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 0	$ 22,790
Notes Receivable Interest Rate Terms	prime + 1.75%	prime + 1.75%
Prime Rate	3.25%	3.25%

XML

RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	$ 9,787,196	$ 15,103,290
Operating limited partnership rents received in advance	13,134	155
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(8,810,810)	(9,530,240)
Other	14,169,885	8,210,250
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(6,894,299)	(8,901,790)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(2,514,249)	(2,914,770)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(13,573,039)	(17,518,111)
Income (loss) for tax return purposes	(7,822,182)	(15,551,216)
Series Twenty [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(6,894)	65,321
Operating limited partnership rents received in advance	50	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(22,179)	24,843
Other	733,304	522,385
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(41,124)	(106,474)
Excess of tax depreciation over book depreciation on operating limited partnership assets	401	(17,784)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(17,657)	(131,295)
Income (loss) for tax return purposes	645,901	356,996
Series Twenty One [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	9,244	(44,938)
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(250,346)	(139,128)
Other	0	18,446
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	0	(39,102)
Excess of tax depreciation over book depreciation on operating limited partnership assets	0	(33,177)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	951,647	1,060
Income (loss) for tax return purposes	710,545	(236,839)
Series Twenty Two [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(59,412)	(72,794)
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	29,212	29,208
Other	2	547,008
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(61,031)	(45,959)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(21,871)	(19,546)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(13,333)	(31,291)
Income (loss) for tax return purposes	(126,433)	406,626
Series Twenty Three [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	943,256	402,128
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(1,156,287)	37,362
Other	(225,288)	60,716
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(36,752)	(159,714)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(29,857)	(28,172)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(320,484)	(703,528)
Income (loss) for tax return purposes	(825,412)	(391,208)
Series Twenty Four [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	21,331	(75,371)
Operating limited partnership rents received in advance	777	(358)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	0	0
Other	(18,366)	30,366
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(164,872)	(185,148)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(35,635)	(52,400)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(109,573)	(10,228)
Income (loss) for tax return purposes	(306,338)	(293,139)
Series Twenty Five [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	34,406	(51,336)
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	0	0
Other	0	65,984
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	0	(112,755)
Excess of tax depreciation over book depreciation on operating limited partnership assets	0	(61,003)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	151,588	(6,578)
Income (loss) for tax return purposes	185,994	(165,688)
Series Twenty Six [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(35,421)	(126,723)
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	0	0
Other	1,333,631	708
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(366,786)	(500,992)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(91,645)	(102,807)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(113,791)	(11,559)
Income (loss) for tax return purposes	725,988	(741,373)
Series Twenty Seven [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	3,225,133	2,675,164
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	0	0
Other	5,285,281	3,509,504
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(122,997)	(164,034)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(35,980)	106,695
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(3,477,575)	(2,896,130)
Income (loss) for tax return purposes	4,873,862	3,231,199
Series Twenty Eight [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(69,919)	(64,444)
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	0	0
Other	194,238	87,980
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(195,312)	(198,898)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(74,586)	(70,559)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(12,139)	(10,783)
Income (loss) for tax return purposes	(157,718)	(256,704)
Series Twenty Nine [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	203,747	(173,797)
Operating limited partnership rents received in advance	0	8,486
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	80,369	(99,313)
Other	(129,500)	97,387
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(282,525)	(531,118)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(84,435)	(111,292)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(361,500)	217,422
Income (loss) for tax return purposes	(573,844)	(592,225)
Series Thirty [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	240,789	(103,851)
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(21,019)	69,684
Other	782,386	21,360
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(144,991)	(187,074)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(84,171)	(104,590)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(228,100)	(285,411)
Income (loss) for tax return purposes	544,894	(589,882)
Series Thirty One [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(75,968)	698,887
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	0	0
Other	452,761	1,772,400
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(508,072)	(497,487)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(104,750)	(120,866)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(50,514)	(879,687)
Income (loss) for tax return purposes	(286,543)	973,247
Series Thirty Two [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	1,576,107	374,024
Operating limited partnership rents received in advance	0	(1,053)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(1,847,595)	(593,524)
Other	(189,392)	76,514
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(529,903)	(529,907)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(113,242)	(148,783)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(971,004)	(580,023)
Income (loss) for tax return purposes	(2,075,029)	(1,402,752)
Series Thirty Three [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	121,295	(94,282)
Operating limited partnership rents received in advance	0	3,591
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	62,127	(834,408)
Other	(59,893)	116,153
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(166,677)	(297,842)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(106,881)	(122,731)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(215,225)	(5,328)
Income (loss) for tax return purposes	(365,254)	(1,234,847)
Series Thirty Four [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(73,012)	556,742
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(381,229)	(248,259)
Other	40,711	(1,066,168)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(131,700)	(136,875)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(67,604)	(70,296)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(83,107)	(647,142)
Income (loss) for tax return purposes	(695,941)	(1,611,998)
Series Thirty Five [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	2,587,521	2,641,797
Operating limited partnership rents received in advance	0	2,642
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(551,982)	(1,942,253)
Other	2,508,317	1,264,928
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(28,464)	(40,749)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(20,415)	(79,294)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(3,352,191)	(2,304,632)
Income (loss) for tax return purposes	1,142,786	(457,561)
Series Thirty Six [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(60,762)	2,482,508
Operating limited partnership rents received in advance	2,778	(1,519)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(767,505)	(525,031)
Other	21,740	889,821
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(105,544)	(131,250)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(29,474)	(29,683)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(64,237)	(2,582,560)
Income (loss) for tax return purposes	(1,003,004)	102,286
Series Thirty Seven [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	90,852	2,213,042
Operating limited partnership rents received in advance	11,662	(6,374)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(1,530,566)	(457,692)
Other	1,023,999	1,380,551
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(71,171)	(141,806)
Excess of tax depreciation over book depreciation on operating limited partnership assets	0	(20,612)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(812,963)	(1,854,291)
Income (loss) for tax return purposes	(1,288,187)	1,112,818
Series Thirty Eight [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(46,425)	3,212,273
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(1,497,751)	(504,647)
Other	1,088,875	2,040,553
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(60,830)	(144,427)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(115,819)	(112,811)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(709,313)	(2,730,241)
Income (loss) for tax return purposes	(1,341,263)	1,760,700
Series Thirty Nine [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(48,069)	1,554,531
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(933,785)	(620,973)
Other	0	(1,571,550)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	0	(13,393)
Excess of tax depreciation over book depreciation on operating limited partnership assets	0	(13,019)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(918,718)	(1,069,742)
Income (loss) for tax return purposes	(1,900,572)	(1,734,146)
Series Forty [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	454,012	(79,129)
Operating limited partnership rents received in advance	(171)	(2,549)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(270,989)	(178,258)
Other	196,272	(2,082,251)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(529,771)	(695,283)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(137,534)	(115,566)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(444,218)	(158,655)
Income (loss) for tax return purposes	(732,399)	(3,311,691)
Series Forty One [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	814,281	(137,219)
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(392,649)	124,592
Other	278,963	(176,849)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(453,901)	(535,125)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(141,798)	(207,789)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(593,397)	(202,362)
Income (loss) for tax return purposes	(488,501)	(1,134,752)
Series Forty Two [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	265,175	(199,189)
Operating limited partnership rents received in advance	(1,477)	240
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	0	(2,141,040)
Other	(15,484)	124,991
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(579,351)	(678,898)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(119,125)	(215,303)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(547,917)	(67,226)
Income (loss) for tax return purposes	(998,179)	(3,176,425)
Series Forty Three [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	349,598	(246,031)
Operating limited partnership rents received in advance	(485)	(323)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	143,797	(2,289,322)
Other	239,450	(137,271)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(638,082)	(749,824)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(139,389)	(195,524)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(961,052)	186,238
Income (loss) for tax return purposes	(1,006,163)	(3,432,057)
Series Forty Four [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(227,804)	(231,517)
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	231,224	239,076
Other	491,352	(62,471)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(407,845)	(596,043)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(294,302)	(295,249)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(87,589)	(128,192)
Income (loss) for tax return purposes	(294,964)	(1,074,396)
Series Forty Five [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(276,116)	(244,274)
Operating limited partnership rents received in advance	0	0
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	281,324	282,759
Other	85,888	239,056
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(897,088)	(915,282)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(260,708)	(274,370)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(156,431)	(137,774)
Income (loss) for tax return purposes	(1,223,131)	(1,049,885)
Series Forty Six [Member]
Reconciliation Of Financial Statement Net Income Loss To Income Tax Return Disclosure [Line Items]
Net income (loss) for financial reporting purposes	(169,749)	171,768
Operating limited partnership rents received in advance	0	(2,628)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes	(14,981)	236,084
Other	50,638	439,999
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting	(369,510)	(566,331)
Excess of tax depreciation over book depreciation on operating limited partnership assets	(405,429)	(398,239)
Impairment loss not recognized for tax purposes	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Difference due to fiscal year for book purposes and calendar year for tax purposes	(54,246)	(488,173)
Income (loss) for tax return purposes	$ (963,277)	$ (607,520)

XML

RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Details 1) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	$ 14,372,703	$ 23,526,808
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	54,135,331	57,696,047
Impairment loss in investment in operating limited partnerships	(101,705,964)	(122,872,037)
Historic tax credits - cumulative	0	978,267
Less share of loss	(110,689)	(183,255)
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	33,308,619	40,854,170
Investments in operating limited partnerships - as reported	0	0
Series Twenty [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(499,918)	(1,140,956)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	346,427	1,066,850
Impairment loss in investment in operating limited partnerships	(337,192)	(337,192)
Historic tax credits - cumulative	0	570,617
Less share of loss	(144)	(7,136)
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	490,827	(152,183)
Investments in operating limited partnerships - as reported	0	0
Series Twenty One [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	0	(984,278)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	0	325,745
Impairment loss in investment in operating limited partnerships	0	(38,116)
Historic tax credits - cumulative	0	0
Less share of loss	0	(15,685)
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	0	712,334
Investments in operating limited partnerships - as reported	0	0
Series Twenty Two [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(959,438)	(876,538)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	917,196	856,165
Impairment loss in investment in operating limited partnerships	(325,787)	(325,787)
Historic tax credits - cumulative	0	223,537
Less share of loss	(7,927)	(7,927)
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	375,956	130,550
Investments in operating limited partnerships - as reported	0	0
Series Twenty Three [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(374,542)	1,392,317
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	278,856	970,072
Impairment loss in investment in operating limited partnerships	(554,366)	(2,213,351)
Historic tax credits - cumulative	0	0
Less share of loss	5,691	5,691
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	644,361	(154,729)
Investments in operating limited partnerships - as reported	0	0
Series Twenty Four [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(1,497,270)	(1,278,780)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	2,244,208	2,267,378
Impairment loss in investment in operating limited partnerships	(1,018,072)	(1,151,381)
Historic tax credits - cumulative	0	0
Less share of loss	(5,141)	(841)
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	276,275	163,624
Investments in operating limited partnerships - as reported	0	0
Series Twenty Five [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	0	(268,984)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	0	456,606
Impairment loss in investment in operating limited partnerships	0	(1,430,062)
Historic tax credits - cumulative	0	0
Less share of loss	0	(31,239)
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	0	1,273,679
Investments in operating limited partnerships - as reported	0	0
Series Twenty Six [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(4,269,725)	(5,065,008)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	3,965,540	4,815,872
Impairment loss in investment in operating limited partnerships	(902,540)	(1,350,275)
Historic tax credits - cumulative	0	0
Less share of loss	(28,901)	(45,732)
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	1,235,626	1,645,143
Investments in operating limited partnerships - as reported	0	0
Series Twenty Seven [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	337,039	(1,594,442)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	925,221	1,317,831
Impairment loss in investment in operating limited partnerships	(2,626,423)	(3,487,976)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	1,364,163	3,764,587
Investments in operating limited partnerships - as reported	0	0
Series Twenty Eight [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(1,677,298)	(1,601,638)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	2,012,890	1,819,446
Impairment loss in investment in operating limited partnerships	(973,150)	(930,910)
Historic tax credits - cumulative	0	0
Less share of loss	(33,990)	(33,990)
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	671,548	747,092
Investments in operating limited partnerships - as reported	0	0
Series Twenty Nine [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(809,909)	(313,449)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	2,943,963	3,478,199
Impairment loss in investment in operating limited partnerships	(2,645,150)	(5,444,545)
Historic tax credits - cumulative	0	0
Less share of loss	(39,537)	(39,537)
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	550,633	2,319,332
Investments in operating limited partnerships - as reported	0	0
Series Thirty [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(797,391)	(1,084,631)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	1,447,713	2,083,473
Impairment loss in investment in operating limited partnerships	(1,571,164)	(2,194,151)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	920,842	1,195,309
Investments in operating limited partnerships - as reported	0	0
Series Thirty One [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(1,472,975)	(1,182,450)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	3,336,809	3,188,582
Impairment loss in investment in operating limited partnerships	(3,106,050)	(3,574,025)
Historic tax credits - cumulative	0	0
Less share of loss	(740)	(6,859)
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	1,242,956	1,574,752
Investments in operating limited partnerships - as reported	0	0
Series Thirty Two [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	2,314,568	5,351,336
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	3,691,664	3,395,101
Impairment loss in investment in operating limited partnerships	(8,016,312)	(9,175,569)
Historic tax credits - cumulative	0	184,113
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	2,010,080	245,019
Investments in operating limited partnerships - as reported	0	0
Series Thirty Three [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	2,108,030	2,508,935
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	1,423,036	1,876,329
Impairment loss in investment in operating limited partnerships	(5,228,587)	(6,568,884)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	1,697,521	2,183,620
Investments in operating limited partnerships - as reported	0	0
Series Thirty Four [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	1,329,228	1,488,403
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	1,445,856	1,354,867
Impairment loss in investment in operating limited partnerships	(3,951,725)	(3,951,725)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	1,176,641	1,108,455
Investments in operating limited partnerships - as reported	0	0
Series Thirty Five [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(1,262,041)	(884,003)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	2,119,964	2,237,121
Impairment loss in investment in operating limited partnerships	(754,520)	(2,462,259)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	(103,403)	1,109,141
Investments in operating limited partnerships - as reported	0	0
Series Thirty Six [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	1,059,543	1,174,145
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	1,076,427	984,727
Impairment loss in investment in operating limited partnerships	(2,406,542)	(2,406,542)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	270,572	247,670
Investments in operating limited partnerships - as reported	0	0
Series Thirty Seven [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	1,720,746	1,316,599
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	1,295,610	1,916,369
Impairment loss in investment in operating limited partnerships	(3,023,930)	(3,922,795)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	7,574	689,827
Investments in operating limited partnerships - as reported	0	0
Series Thirty Eight [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	4,598,836	5,168,309
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	890,820	866,648
Impairment loss in investment in operating limited partnerships	(7,249,126)	(7,194,962)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	1,759,470	1,160,005
Investments in operating limited partnerships - as reported	0	0
Series Thirty Nine [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	0	767,711
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	0	97,796
Impairment loss in investment in operating limited partnerships	0	(233,531)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	0	(631,976)
Investments in operating limited partnerships - as reported	0	0
Series Forty [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	706,370	1,822,558
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	2,760,624	2,230,853
Impairment loss in investment in operating limited partnerships	(5,308,127)	(5,441,719)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	1,841,133	1,388,308
Investments in operating limited partnerships - as reported	0	0
Series Forty One [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(2,432,159)	(1,243,644)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	3,298,857	3,483,277
Impairment loss in investment in operating limited partnerships	(3,548,252)	(5,854,800)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	2,681,554	3,615,167
Investments in operating limited partnerships - as reported	0	0
Series Forty Two [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(576,343)	388,430
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	3,931,656	4,285,267
Impairment loss in investment in operating limited partnerships	(4,092,870)	(7,195,970)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	737,557	2,522,273
Investments in operating limited partnerships - as reported	0	0
Series Forty Three [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	3,032,936	3,816,055
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	4,470,306	4,434,039
Impairment loss in investment in operating limited partnerships	(8,893,106)	(11,001,252)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	1,389,864	2,751,158
Investments in operating limited partnerships - as reported	0	0
Series Forty Four [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	(1,629,402)	(1,407,277)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	4,653,305	4,416,600
Impairment loss in investment in operating limited partnerships	(5,557,696)	(5,442,013)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	2,533,793	2,432,690
Investments in operating limited partnerships - as reported	0	0
Series Forty Five [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	9,271,463	10,366,187
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	3,073,662	2,226,331
Impairment loss in investment in operating limited partnerships	(16,583,879)	(16,541,124)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	4,238,754	3,948,606
Investments in operating limited partnerships - as reported	0	0
Series Forty Six [Member]
Investments In Operating Limited Partnerships For Tax Purposes and Financial Statement Purposes Disclosure [Line Items]
Investments in operating limited partnerships - tax return	6,152,355	6,891,901
Operating limited partnership losses not recognized for financial reporting purposes under the equity method	1,584,721	1,244,503
Impairment loss in investment in operating limited partnerships	(13,031,398)	(13,001,121)
Historic tax credits - cumulative	0	0
Less share of loss	0	0
Operating limited partnership impairment loss not recognized for tax purposes	0	0
Other	5,294,322	4,864,717
Investments in operating limited partnerships - as reported	$ 0	$ 0

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CASH EQUIVALENTS (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash and Cash Equivalents [Line Items]
Cash Equivalents	$ 27,108,889	$ 27,084,576
Money Market Accounts Interest Rate Minimum	0.10%
Money Market Accounts Interest Rate Maximum	0.35%

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SUBSEQUENT EVENTS (Details Textual) - Subsequent Event [Member]	3 Months Ended
	Jun. 30, 2018 USD ($)
Subsequent Event [Line Items]
Estimated Cash Proceeds To Operating Partnership	$ 664,657
Estimated Gain On The Sale Of The Operating Partnerships	$ 652,217