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Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Mar. 31, 2015
Operating Assets [Abstract]    
Property and equipment (at cost, net of accumulated depreciation of $7,944,706 and $11,028,981, respectively) $ 184,671 $ 1,089,909
Cash and cash equivalents 894,558 706,652
Cash held in escrow 655,394 784,111
Deferred costs (net of accumulated amortization of $103,494 and $223,051, respectively) 103,862 240,291
Due from local general partners and affiliates (Note 2)   5,795
Other assets 89,880 245,594
Total assets 1,928,365 3,072,352
Operating Liabilities [Abstract]    
Mortgage notes payable 4,908,317 9,475,089
Accounts payable and other liabilities 107,994 201,875
Accrued interest payable 68,558 130,061
Security deposits payable 145,701 169,508
Interest rate swap   20,000
Due to local general partners and affiliates (Note 2) 572,008 840,182
Due to general partners and affiliates (Note 2) 271,315 2,544,535
Total liabilities $ 6,073,893 $ 13,381,250
Commitments and contingencies (Notes 6)
Partners’ (deficit) capital    
Limited partners (45,844 BACs issued and outstanding) $ (3,901,530) $ (10,428,532)
General partner (429,509) (495,438)
Independence Tax Credit Plus L.P. IV total (4,331,039) (10,923,970)
Noncontrolling interests 185,511 615,072
Total partners’ (deficit) capital (4,145,528) (10,308,898)
Total liabilities and partners’ (deficit) capital $ 1,928,365 $ 3,072,352