Summary of Significant Accounting Policies (Tables)

6 Months Ended

Sep. 30, 2012

Accounting Policies [Abstract]

Schedule of Sale or Disposal of Equity Method Investments in Local Limited Partnership

The following table reflects the 10 Local Limited Partnership interests that were sold during the six months ended September 30, 2012:

Local Limited Partnership	Debt at 12/31/11		Appraisal Value		Date of sale		Proceeds from sale		Sales related expenses		Gain on sale
Autumn Trace Associates	$	1,102,000	$	1,300,000		6/1/2012	$	197,764	$	2,953	$	194,811
Hickory Lane Associates		568,000		355,000		6/1/2012		22,450		2,297		20,153
Honeysuckle Court Associates		1,111,000		670,000		6/1/2012		22,450		2,963		19,487
Walnut Turn Associates, Ltd		658,000		480,000		6/1/2012		22,450		2,297		20,153
Southcove Associates		1,421,000		1,000,000		6/30/2012		25,000		2,300		22,700
Hereford Seniors Community, Ltd		751,000		405,000		8/24/2012		9,375		2,369		7,006
Palestine Seniors Community, Ltd		1,053,000		475,000		8/24/2012		9,375		3,119		6,256
Garland Street, LP		647,000		320,000		8/31/2012		21,953		3,303		18,650
Pecan Grove, LP		1,033,000		500,000		8/31/2012		21,953		1,854		20,099
Lamesa Seniors Community, Ltd		635,000		455,000		8/24/2012		9,375		2,369		7,006

Schedule of Anticipated Use of Cash Proceeds from Disposal of Local Limited Partnerships

The following table represents the anticipated use of the cash proceeds from the disposition of the 10 Local Limited Partnerships that were disposed of during the six months ended September 30, 2012.

Local Limited Partnership	Sale Proceeds		Payment of accrued asset management fees		Reimburse GP or affiliates for expenses		Remaining cash to remain in reserve for future expenses
Autumn Trace Associates	$	197,764	$	129,235	$	65,529	$	3,000
Hickory Lane  Associates		22,450		19,450		-		3,000
Honeysuckle Court Associates		22,450		19,450		-		3,000
Walnut Turn  Associates, Ltd		22,450		19,450		-		3,000
Southcove  Associates		25,000		20,000		-		5,000
Hereford Seniors Community, Ltd		9,375		8,375		-		1,000
Palestine Seniors Community, Ltd		9,375		8,375		-		1,000
Garland Street, LP		21,953		8,476		12,477		1,000
Pecan Grove, LP		21,953		8,477		12,476		1,000
Lamesa Seniors Community, Ltd		9,375		8,375		-		1,000