INVESTMENTS IN OPERATING PARTNERSHIPS (Tables)

6 Months Ended

Sep. 30, 2019

INVESTMENTS IN OPERATING PARTNERSHIPS

Schedule Of Operating Partnerships Within the Fund

The breakdown of Operating Partnerships within the Fund at September 30, 2019 and 2018 are as follows:

	2019	2018
Series 20	-	1
Series 21	-	-
Series 22	-	3
Series 23	-	3
Series 24	4	5
Series 25	-	–
Series 26	8	8
Series 27	2	3
Series 28	3	4
Series 29	5	5
Series 30	-	2
Series 31	-	6
Series 32	5	5
Series 33	2	3
Series 34	3	4
Series 35	1	2
Series 36	1	2
Series 37	–	–
Series 38	1	3
Series 39	-	-
Series 40	5	8
Series 41	11	11
Series 42	9	10
Series 43	11	16
Series 44	5	7
Series 45	22	25
Series 46	14	14
	112	150

Schedule Of Contributions Payable

The contributions payable at September 30, 2019 and 2018, are as follows:

	2019		2018
Series 29	$	785	$	785
Series 30		-		48,627
Series 31		-		43,842
Series 32		1,229		1,229
Series 40		–		102
Series 42		254		254
Series 43		–		26,082
Series 45		16,724		16,724
	$	18,992	$	137,645

Schedule Of Dispositions By Series

During the six months ended September 30, 2019 the Fund disposed of fifteen Operating Partnerships. A summary of the dispositions by Series for September 30, 2019 is as follows:

	Operating	Sale of
	Partnership	Underlying	Fund Proceeds
	Interest	Operating	from		Gain on
	Transferred	Partnership	Disposition *		Disposition
Series 27	—	1	$	776,922	$	776,922
Series 28	1	—		7,100		7,100
Series 31	—	1		618,900		618,900
Series 33	—	1		1,442,632		1,442,632
Series 34	1	—		257,500		257,500
Series 35	1	—		141,000		141,000
Series 36	—	1		476,325		476,325
Series 38	1	1		1,463,974		1,463,974
Series 40	1	1		2,553,903		2,554,005
Series 43	1	1		1,255,582		1,255,582
Series 44	—	2		2,856,723		2,856,723
Total	6	9	$	11,850,561	$	11,850,663

*Fund proceeds from disposition does not include $102, which was due to a writeoff of capital contribution payable as of September 30, 2019, for Series 40.

During the six months ended September 30, 2018 the Fund disposed of nineteen Operating Partnerships. A summary of the dispositions by Series for September 30, 2018 is as follows:

	Operating	Sale of
	Partnership	Underlying	Fund Proceeds
	Interest	Operating	from		Gain on
	Transferred	Partnership	Disposition *		Disposition
Series 20	1	-	$	155,337	$	155,337
Series 26	1	–		10,500		10,500
Series 28	1	–		8,500		8,500
Series 29	2	–		122,994		123,094
Series 30	3	–		25,006		41,555
Series 31	2	–		47,000		69,452
Series 32	–	1		487,880		487,880
Series 36	–	1		243,163		243,163
Series 37	–	1		1,020,649		1,020,649
Series 38	1	–		7,000		7,000
Series 40	1	–		44,500		44,500
Series 41	–	1		14,000		14,000
Series 42	1	–		42,500		42,500
Series 43	1	–		9,000		9,000
Series 45	1	–		342,500		342,500
Total	15	4	$	2,580,529	$	2,619,630

*Fund proceeds from disposition does not include $100, $16,549 and $22,452,  which was due to a writeoff of capital contribution payable as of September 30, 2018, for Series 29,

Schedule of accordingly, the current financial results available for the Operating Partnerships

Accordingly, the current financial results available for the Operating Partnerships are for the six months ended June 30, 2019.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

	2019		2018
Revenues
Rental	$	17,098,171	$	22,343,323
Interest and other		414,231		663,683
		17,512,402		23,007,006
Expenses
Interest		2,779,787		3,644,356
Depreciation and amortization		4,213,607		5,775,862
Operating expenses		12,566,968		16,122,850
		19,560,362		25,543,068
NET LOSS	$	(2,047,960)	$	(2,536,062)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(2,027,484)	$	(2,510,699)
Net loss allocated to other  Partners	$	(20,476)	$	(25,363)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 20

	2019		2018
Revenues
Rental	$	–	$	139,480
Interest and other		–		9,921
		–		149,401
Expenses
Interest		–		11,732
Depreciation and amortization		–		28,416
Operating expenses		–		124,517
		–		164,665
NET LOSS	$	–	$	(15,264)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(15,111)
Net loss allocated to other  Partners	$	–	$	(153)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 21

	2019		2018
Revenues
Rental	$	–	$	–
Interest and other		–		–
		–		–
Expenses
Interest		–		–
Depreciation and amortization		–		–
Operating expenses		–		–
		–		–
NET LOSS	$	–	$	–
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	–
Net loss allocated to other  Partners	$	–	$	–

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 22

	2019		2018
Revenues
Rental	$	-	$	255,007
Interest and other		–		6,424
		–		261,431
Expenses
Interest		–		21,753
Depreciation and amortization		–		54,539
Operating expenses		–		215,777
		–		292,069
NET LOSS	$	–	$	(30,638)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(30,332)
Net loss allocated to other Partners	$	–	$	(306)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 23

	2019		2018
Revenues
Rental	$	-	$	204,371
Interest and other		–		8,421
		–		212,792
Expenses
Interest		–		14,889
Depreciation and amortization		–		45,095
Operating expenses		–		169,287
		–		229,271
NET LOSS	$	–	$	(16,479)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(16,314)
Net loss allocated to other  Partners	$	–	$	(165)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 24

	2019		2018
Revenues
Rental	$	422,317	$	428,402
Interest and other		19,531		13,733
		441,848		442,135
Expenses
Interest		36,469		34,789
Depreciation and amortization		118,903		121,938
Operating expenses		354,705		342,441
		510,077		499,168
NET LOSS	$	(68,229)	$	(57,033)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(67,547)	$	(56,463)
Net loss allocated to other  Partners	$	(682)	$	(570)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 25

	2019		2018
Revenues
Rental	$	–	$	–
Interest and other		–		–
		–		–
Expenses
Interest		–		–
Depreciation and amortization		–		–
Operating expenses		–		–
		–		–
NET LOSS	$	–	$	–
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	–
Net loss allocated to other  Partners	$	–	$	–

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 26

	2019		2018
Revenues
Rental	$	605,212	$	637,353
Interest and other		9,506		7,655
		614,718		645,008
Expenses
Interest		106,883		111,673
Depreciation and amortization		157,288		155,406
Operating expenses		569,196		536,826
		833,367		803,905
NET LOSS	$	(218,649)	$	(158,897)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(216,463)	$	(157,308)
Net loss allocated to other  Partners	$	(2,186)	$	(1,589)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 27

	2019		2018
Revenues
Rental	$	211,201	$	330,303
Interest and other		125		6,495
		211,326		336,798
Expenses
Interest		6,529		16,620
Depreciation and amortization		67,956		88,925
Operating expenses		210,794		275,358
		285,279		380,903
NET LOSS	$	(73,953)	$	(44,105)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(73,213)	$	(43,664)
Net loss allocated to other  Partners	$	(740)	$	(441)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 28

	2019		2018
Revenues
Rental	$	263,303	$	411,179
Interest and other		8,837		22,570
		272,140		433,749
Expenses
Interest		64,522		66,567
Depreciation and amortization		69,046		91,762
Operating expenses		209,346		340,875
		342,914		499,204
NET LOSS	$	(70,774)	$	(65,455)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(70,068)	$	(64,800)
Net loss allocated to other  Partners	$	(706)	$	(655)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 29

	2019		2018
Revenues
Rental	$	464,228	$	543,919
Interest and other		43,983		21,495
		508,211		565,414
Expenses
Interest		79,653		106,247
Depreciation and amortization		92,325		114,458
Operating expenses		421,661		459,302
		593,639		680,007
NET LOSS	$	(85,428)	$	(114,593)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(84,574)	$	(113,447)
Net loss allocated to other  Partners	$	(854)	$	(1,146)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 30

	2019		2018
Revenues
Rental	$	—	$	322,299
Interest and other		—		7,537
		—		329,836
Expenses
Interest		—		34,088
Depreciation and amortization		—		76,907
Operating expenses		—		261,993
		—		372,988
NET LOSS	$	—	$	(43,152)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	—	$	(42,720)
Net loss allocated to other  Partners	$	—	$	(432)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 31

	2019		2018
Revenues
Rental	$	—	$	563,108
Interest and other		—		21,066
		—		584,174
Expenses
Interest		—		41,564
Depreciation and amortization		—		209,468
Operating expenses		—		563,223
		—		814,255
NET LOSS	$	—	$	(230,081)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	—	$	(227,780)
Net loss allocated to other  Partners	$	—	$	(2,301)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 32

	2019		2018
Revenues
Rental	$	761,862	$	770,495
Interest and other		13,701		11,472
		775,563		781,967
Expenses
Interest		125,371		128,444
Depreciation and amortization		219,045		219,165
Operating expenses		613,804		641,294
		958,220		988,903
NET LOSS	$	(182,657)	$	(206,936)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(180,830)	$	(204,867)
Net loss allocated to other  Partners	$	(1,827)	$	(2,069)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 33

	2019		2018
Revenues
Rental	$	416,301	$	632,934
Interest and other		13,138		23,019
		429,439		655,953
Expenses
Interest		79,953		101,675
Depreciation and amortization		100,726		139,535
Operating expenses		307,186		465,670
		487,865		706,880
NET LOSS	$	(58,426)	$	(50,927)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(57,842)	$	(50,418)
Net loss allocated to other  Partners	$	(584)	$	(509)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 34

	2019		2018
Revenues
Rental	$	408,120	$	495,011
Interest and other		15,105		25,201
		423,225		520,212
Expenses
Interest		54,704		57,916
Depreciation and amortization		106,772		137,095
Operating expenses		362,170		370,981
		523,646		565,992
NET LOSS	$	(100,421)	$	(45,780)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(99,417)	$	(45,322)
Net loss allocated to other  Partners	$	(1,004)	$	(458)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 35

	2019		2018
Revenues
Rental	$	404,488	$	504,934
Interest and other		2,157		28,304
		406,645		533,238
Expenses
Interest		58,450		83,244
Depreciation and amortization		131,653		161,156
Operating expenses		218,081		303,777
		408,184		548,177
NET LOSS	$	(1,539)	$	(14,939)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(1,524)	$	(14,790)
Net loss allocated to other  Partners	$	(15)	$	(149)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 36

	2019		2018
Revenues
Rental	$	88,773	$	284,874
Interest and other		810		5,290
		89,583		290,164
Expenses
Interest		21,196		52,992
Depreciation and amortization		27,363		70,217
Operating expenses		85,948		208,729
		134,507		331,938
NET LOSS	$	(44,924)	$	(41,774)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(44,475)	$	(41,356)
Net loss allocated to other  Partners	$	(449)	$	(418)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 37

	2019		2018
Revenues
Rental	$	—	$	–
Interest and other		—		–
		—		–
Expenses
Interest		—		–
Depreciation and amortization		—		–
Operating expenses		—		–
		—		–
NET LOSS	$	—	$	–
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	—	$	–
Net loss allocated to other  Partners	$	—	$	–

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 38

	2019		2018
Revenues
Rental	$	115,212	$	810,726
Interest and other		887		16,373
		116,099		827,099
Expenses
Interest		13,168		111,239
Depreciation and amortization		27,635		155,514
Operating expenses		99,031		564,808
		139,834		831,561
NET LOSS	$	(23,735)	$	(4,462)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(23,498)	$	(4,417)
Net loss allocated to other  Partners	$	(237)	$	(45)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 39

	2019		2018
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET LOSS	$	—	$	—
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	—	$	—
Net loss allocated to other  Partners	$	—	$	—

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 40

	2019		2018
Revenues
Rental	$	486,308	$	1,017,456
Interest and other		9,251		26,894
		495,559		1,044,350
Expenses
Interest		80,247		189,214
Depreciation and amortization		122,649		276,150
Operating expenses		362,884		794,063
		565,780		1,259,427
NET LOSS	$	(70,221)	$	(215,077)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(69,519)	$	(212,926)
Net loss allocated to other  Partners	$	(702)	$	(2,151)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 41

	2019		2018
Revenues
Rental	$	1,780,047	$	1,815,549
Interest and other		31,950		29,661
		1,811,997		1,845,210
Expenses
Interest		283,344		340,027
Depreciation and amortization		368,462		384,753
Operating expenses		1,294,393		1,223,663
		1,946,199		1,948,443
NET LOSS	$	(134,202)	$	(103,233)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(132,860)	$	(102,201)
Net loss allocated to other  Partners	$	(1,342)	$	(1,032)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 42

	2019		2018
Revenues
Rental	$	1,131,169	$	1,196,029
Interest and other		42,952		47,542
		1,174,121		1,243,571
Expenses
Interest		217,395		242,115
Depreciation and amortization		323,583		362,541
Operating expenses		851,969		876,593
		1,392,947		1,481,249
NET LOSS	$	(218,826)	$	(237,678)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(216,638)	$	(235,301)
Net loss allocated to other  Partners	$	(2,188)	$	(2,377)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 43

	2019		2018
Revenues
Rental	$	1,312,145	$	2,093,498
Interest and other		36,262		90,363
		1,348,407		2,183,861
Expenses
Interest		113,547		256,666
Depreciation and amortization		372,693		695,187
Operating expenses		1,068,124		1,576,475
		1,554,364		2,528,328
NET LOSS	$	(205,957)	$	(344,467)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(203,897)	$	(341,022)
Net loss allocated to other  Partners	$	(2,060)	$	(3,445)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 44

	2019		2018
Revenues
Rental	$	2,449,364	$	2,981,014
Interest and other		51,200		81,854
		2,500,564		3,062,868
Expenses
Interest		553,571		695,577
Depreciation and amortization		513,484		676,174
Operating expenses		1,447,637		1,711,083
		2,514,692		3,082,834
NET LOSS	$	(14,128)	$	(19,966)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(13,987)	$	(19,766)
Net loss allocated to other Partners	$	(141)	$	(200)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 45

	2019		2018
Revenues
Rental	$	3,290,532	$	3,545,117
Interest and other		76,870		80,792
		3,367,402		3,625,909
Expenses
Interest		404,349		455,418
Depreciation and amortization		826,542		944,459
Operating expenses		2,560,676		2,613,391
		3,791,567		4,013,268
NET LOSS	$	(424,165)	$	(387,359)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(419,923)	$	(383,485)
Net loss allocated to other  Partners	$	(4,242)	$	(3,874)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

Series 46

	2019		2018
Revenues
Rental	$	2,487,589	$	2,360,265
Interest and other		37,966		71,601
		2,525,555		2,431,866
Expenses
Interest		480,436		469,907
Depreciation and amortization		567,482		567,002
Operating expenses		1,529,363		1,482,724
		2,577,281		2,519,633
NET LOSS	$	(51,726)	$	(87,767)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.	$	(51,209)	$	(86,889)
Net loss allocated to other  Partners	$	(517)	$	(878)

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income