Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2013

Accounting Policies [Abstract]

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

The following table reflects the 12 Local Limited Partnerships that were sold during the year ended March 31, 2013:

Local Limited Partnership	Debt		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		2,372		7,003
Palestine Seniors Community, Ltd		1,053,000		475,000		8/24/2012		9,375		3,122		6,253
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		2,372		7,003
Laredo Heights Apartments		890,000		945,000		11/27/2012		111,733		2,751		108,982
Apartment Housing of E. Brewton, LTD (1)		1,043,039		250,000		3/31/2013		5,001		3,165		1,836

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 12 Local Limited Partnerships that were disposed of during the year ended March 31, 2013.

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	$	129,265	$	65,499	$	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
Laredo Heights Apartments		111,733		93,461		13,272		5,000
Apartment Housing of E. Brewton, LTD		5,001		1,459		1,041		2,501

Schedule of Possible Disposition of Local Limited Partnerships

As of March 31, 2013 the Partnership has identified two Local Limited Partnerships for disposition as listed in the table below. The Compliance Period for all of these Local Limited Partnerships have expired so there is no risk of recapture to the investors in the Partnership.

Local Limited Partnership		Debt at 12/31/12		Appraisal value	Estimated sales price		Estimated appraisal expense
Klimpel Manor	$	1,716,305	$	2,575,000	*	$	3,850
Pioneer Street Associates	$	1,354,682	$	4,810,000	*	$	3,100

* Contracts have been drafted and are currently under review by potential purchasers of the Limited Partnership interests. The purchase prices are still under negotiation for both properties.