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Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Revenues [Abstract]        
Rental income $ 406,106 $ 405,769 $ 1,208,989 $ 1,208,188
Other 19,697 21,128 56,279 61,500
Total revenues 425,803 426,897 1,265,268 1,269,688
Expenses        
General and administrative 176,271 179,634 523,545 520,899
General and administrative-related parties (Note 2) 237,722 96,281 455,406 316,049
Repairs and maintenance 90,531 76,718 319,601 253,479
Operating and other 43,501 37,906 120,707 132,372
Real estate taxes 25,135 24,929 75,374 77,969
Insurance 20,157 15,779 52,031 47,118
Interest 44,175 46,033 133,488 149,211
Change in fair value of rate swap   (6,800)   (18,300)
Depreciation and amortization 3,576 894 10,728 10,727
Total Expenses 641,068 471,374 1,690,880 1,489,524
Loss from Operations (215,265) (44,477) (425,612) (219,836)
Income from discontinued operations (including gain on sale of property) (Note 5) 10,670 11,270,770 10,680,430 11,245,605
Net Income (loss) (204,595) 11,226,293 10,254,818 11,025,769
Net loss attributable to noncontrolling interests from operations 1,132 (211) 1,341 (381)
Net (income) loss attributable to noncontrolling interests from discontinued operations (12,098) (7,964) (3,663,228) (9,066)
Net income attributable to noncontrolling interests (10,966) (8,174) (3,661,887) (9,446)
Net income (loss) attributable to Independence Tax Credit Plus L.P. IV (215,561) 11,218,119 6,592,931 11,016,323
Loss from operations limited partners (211,992) (44,241) (420,028) (218,016)
Income (loss) from discontinued operations – limited partners (1,414) 11,150,179 6,947,030 11,124,174
Net income (loss) limited partners $ (213,406) $ 11,105,937 $ 6,527,002 $ 10,906,159
Number Of BACs Outstanding 45,844 45,844 45,844 45,844
Loss from operations limited partners per weighted average BAC $ (4.62) $ (0.97) $ (9.16) $ (4.76)
Income (loss) from discontinued operations limited partners per weighted average BAC (0.03) 243.22 151.54 242.64
Net income (loss) per weighted average BAC $ (4.65) $ 242.25 $ 142.38 $ 237.89