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

	Years Ended December 31,
	2013	2012
Net income (loss) per financial statements	$ 7,979	$ 13,015
Other	213	458
Gain on sale and assignment of interests in		2,462
Local Limited Partnerships	1,973
Gain on extinguishment of debt	(6,075)	(13,609)
Partnership’s share of Local Limited Partnership	--	7,890
Net income per tax return	$ 4,090	$ 10,216
Net income per limited partnership interest	$269.34	$1,305.32