Note 5 - Income Taxes: Reconciliation between the Partnership's reported net income and the net income (loss) per tax return (Tables)

12 Months Ended

Dec. 31, 2013

Tables/Schedules

Reconciliation between the Partnership's reported net income and the net income (loss) per tax return

A reconciliation follows:
	Years Ended December 31,
	2013	2012
	(in thousands)
Net income per financial statements	$ 281		$ 2,295
Gain on sale and extinguishment of debt	--		(2,476)
Other	--		(40)
Partnership’s share of Local Limited Partnership	2,985		(379)
Net income (loss) per tax return	$ 3,266		$ (600)
Taxable income (loss) per limited partnership interest	$197.83		$ (70.69)