Discontinued Operations (Table)

12 Months Ended

Mar. 31, 2017

Table Text Block [Abstract]

Schedule of consolidated balance sheets of discontinued operations

	Years Ended March 31,
	2017		2016*
Assets
Property and equipment, at cost, less accumulated depreciation	$	51,133	$	181,152
Cash and cash equivalents		266,544		352,186
Cash held in escrow		142,923		539,901
Other assets		19,944		86,244
Total assets	$	480,544	$	1,159,483
Liabilities
Mortgage notes payable	$	1,527,076	$	4,792,348
Accounts payable and other liabilities		12,071		63,006
Accrued interest payable		56,839		64,372
Security deposits payable		14,391		147,226
Due to local general partners and affiliates		220,734		607,082
Due to general partners and affiliates		—		72,695
Total liabilities	$	1,831,111	$	5,746,729

Schedule of consolidated statement of operations of discontinued operations

	For the Years Ended March 31,
	2017		2016*
Revenues
Rental income	$	1,291,947	$	2,270,335
Other		58,949		80,496
Gain on sale of property		5,223,004		10,604,339
Total revenue		6,573,900		12,955,170
Expenses
General and administrative		375,164		564,609
General and administrative-related parties		88,207		292,987
Repairs and maintenance		251,691		425,843
Operating and other		230,010		324,192
Real estate taxes		65,085		89,665
Insurance		58,719		95,277
Interest		139,465		370,117
Depreciation and amortization		5,415		30,272
Total expenses		1,213,756		2,192,962
Income from discontinued operations		5,360,144		10,762,208
Noncontrolling interest in (income) loss of subsidiaries from discontinued operations		131,772		(3,527,228)
Income (loss) from discontinued operations – Independence Tax Credit Plus L.P. IV	$	5,491,916	$	7,234,981
Income (loss) from discontinued operations – limited partners	$	5,436,997	$	7,162,630
Number of BACs outstanding		45,844		45,844
Income from discontinued operations – limited partners- per weighted average BAC	$	118.60	$	156.24

*Reclassified for comparative purposes.

Schedule of consolidated cash flows statement of discontinued operations

	For the Years Ended March 31,
	2017		2016*
Net cash (used in) provided by operating activities	$	(399,788)	$	8,052,135
Net cash provided by investing activities	$	477,518	$	780,737
Net cash used in financing activities	$	(163,372)	$	(8,675,174)

*Reclassified for comparative purposes.