INVESTMENTS IN OPERATING PARTNERSHIPS (Tables)

6 Months Ended

Sep. 30, 2020

INVESTMENTS IN OPERATING PARTNERSHIPS

Schedule of operating partnerships within the fund

The breakdown of Operating Partnerships within the Fund at September 30, 2020 and 2019 are as follows:

	2020	2019
Series 20	–	–
Series 21	–	–
Series 22	–	–
Series 23	–	–
Series 24	–	4
Series 25	–	–
Series 26	3	8
Series 27	–	2
Series 28	–	3
Series 29	4	5
Series 30	–	–
Series 31	–	–
Series 32	3	5
Series 33	2	2
Series 34	2	3
Series 35	–	1
Series 36	–	1
Series 37	–	–
Series 38	–	1
Series 39	–	–
Series 40	–	5
Series 41	7	11
Series 42	6	9
Series 43	3	11
Series 44	3	5
Series 45	11	22
Series 46	11	14
	55	112

Schedule of contributions payable

The contributions payable at September 30, 2020 and 2019, are as follows:

	2020		2019
Series 29	$	785	$	785
Series 32		–		1,229
Series 42		254		254
Series 45		–		16,724
	$	1,039	$	18,992

Schedule of dispositions by series

During the six months ended September 30, 2020 the Fund disposed of thireen Operating Partnerships. A summary of the dispositions by Series for September 30, 2020 is as follows:

	Operating	Sale of
	Partnership	Underlying	Fund Proceeds
	Interest	Operating	from		Gain on
	Transferred	Partnership	Disposition		Disposition
Series 29	1	—	$	9,500	$	9,500
Series 41	1	—		46,500		46,500
Series 43	8	—		106,800		106,800
Series 45	1	1		199,692		199,692
Series 46	1	—		68,500		68,500
Total	12	1	$	430,992	$	430,992

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.

Schedule of summarized statement of operations in operating partnerships.

Accordingly, the current financial results available for the Operating Partnerships are for the six months ended June 30, 2020.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended September 30,

(Unaudited)

	2020		2019
Revenues
Rental	$	10,846,001	$	17,098,171
Interest and other		247,297		414,231
		11,093,298		17,512,402
Expenses
Interest		1,972,450		2,779,787
Depreciation and amortization		2,456,942		4,213,607
Operating expenses		7,446,917		12,566,968
		11,876,309		19,560,362
NET INCOME (LOSS)	$	(783,011)	$	(2,047,960)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(775,180)	$	(2,027,484)
Net income (loss) allocated to other Partners	$	(7,831)	$	(20,476)

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 March 31,

(Unaudited)

Series 20

	2020		2019
Revenues
Rental	$	–	$	–
Interest and other		–		–
		–		–
Expenses
Interest		–		–
Depreciation and amortization		–		–
Operating expenses		–		–
		–		–
NET INCOME (LOSS)	$	–	$	–
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	–
Net income (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 21

	2020		2019
Revenues
Rental	$	–	$	–
Interest and other		–		–
		–		–
Expenses
Interest		–		–
Depreciation and amortization		–		–
Operating expenses		–		–
		–		–
NET INCOME (LOSS)	$	–	$	–
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	–
Net income (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

	2020		2019
Revenues
Rental	$	-	$	–
Interest and other		–		–
		–		–
Expenses
Interest		–		–
Depreciation and amortization		–		–
Operating expenses		–		–
		–		–
NET INCOME (LOSS)	$	–	$	–
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	–
Net income (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 23

	2020		2019
Revenues
Rental	$	-	$	–
Interest and other		–		–
		–		–
Expenses
Interest		–		–
Depreciation and amortization		–		–
Operating expenses		–		–
		–		–
NET INCOME (LOSS)	$	–	$	–
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	–
Net income (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 24

	2020		2019
Revenues
Rental	$	–	$	422,317
Interest and other		–		19,531
		–		441,848
Expenses
Interest		–		36,469
Depreciation and amortization		–		118,903
Operating expenses		–		354,705
		–		510,077
NET INCOME (LOSS)	$	–	$	(68,229)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(67,547)
Net income (loss) allocated to other Partners	$	–	$	(682)

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

	2020		2019
Revenues
Rental	$	–	$	–
Interest and other		–		–
		–		–
Expenses
Interest		–		–
Depreciation and amortization		–		–
Operating expenses		–		–
		–		–
NET INCOME (LOSS)	$	–	$	–
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	–
Net income (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

	2020		2019
Revenues
Rental	$	217,139	$	605,212
Interest and other		2,449		9,506
		219,588		614,718
Expenses
Interest		27,332		106,883
Depreciation and amortization		55,156		157,288
Operating expenses		222,991		569,196
		305,479		833,367
NET INCOME (LOSS)	$	(85,891)	$	(218,649)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(85,032)	$	(216,463)
Net income (loss) allocated to other Partners	$	(859)	$	(2,186)

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

	2020		2019
Revenues
Rental	$	–	$	211,201
Interest and other		–		125
		–		211,326
Expenses
Interest		–		6,529
Depreciation and amortization		–		67,956
Operating expenses		–		210,794
		–		285,279
NET INCOME (LOSS)	$	–	$	(73,953)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(73,213)
Net income (loss) allocated to other Partners	$	–	$	(740)

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

	2020		2019
Revenues
Rental	$	–	$	263,303
Interest and other		–		8,837
		–		272,140
Expenses
Interest		–		64,522
Depreciation and amortization		–		69,046
Operating expenses		–		209,346
		–		342,914
NET INCOME (LOSS)	$	–	$	(70,774)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(70,068)
Net income (loss) allocated to other  Partners	$	–	$	(706)

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

	2020		2019
Revenues
Rental	$	417,945	$	464,228
Interest and other		12,890		43,983
		430,835		508,211
Expenses
Interest		67,252		79,653
Depreciation and amortization		74,363		92,325
Operating expenses		369,978		421,661
		511,593		593,639
NET INCOME (LOSS)	$	(80,758)	$	(85,428)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(79,950)	$	(84,574)
Net income (loss) allocated to other Partners	$	(808)	$	(854)

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

	2020		2019
Revenues
Rental	$	—	$	–
Interest and other		—		–
		—		–
Expenses
Interest		—		–
Depreciation and amortization		—		–
Operating expenses		—		–
		—		–
NET INCOME (LOSS)	$	—	$	–
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	—	$	–
Net income (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 31

	2020		2019
Revenues
Rental	$	—	$	–
Interest and other		—		–
		—		–
Expenses
Interest		—		–
Depreciation and amortization		—		–
Operating expenses		—		–
		—		–
NET INCOME (LOSS)	$	—	$	–
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	—	$	–
Net income (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 32

	2020		2019
Revenues
Rental	$	585,243	$	761,862
Interest and other		9,746		13,701
		594,989		775,563
Expenses
Interest		88,374		125,371
Depreciation and amortization		174,189		219,045
Operating expenses		501,400		613,804
		763,963		958,220
NET INCOME (LOSS)	$	(168,974)	$	(182,657)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(167,284)	$	(180,830)
Net income (loss) allocated to other Partners	$	(1,690)	$	(1,827)

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

	2020		2019
Revenues
Rental	$	448,911	$	416,301
Interest and other		15,830		13,138
		464,741		429,439
Expenses
Interest		74,656		79,953
Depreciation and amortization		96,068		100,726
Operating expenses		345,562		307,186
		516,286		487,865
NET INCOME (LOSS)	$	(51,545)	$	(58,426)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(51,030)	$	(57,842)
Net income (loss) allocated to other Partners	$	(515)	$	(584)

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

	2020		2019
Revenues
Rental	$	326,724	$	408,120
Interest and other		11,341		15,105
		338,065		423,225
Expenses
Interest		49,965		54,704
Depreciation and amortization		76,498		106,772
Operating expenses		280,893		362,170
		407,356		523,646
NET INCOME (LOSS)	$	(69,291)	$	(100,421)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(68,598)	$	(99,417)
Net income (loss) allocated to other Partners	$	(693)	$	(1,004)

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

	2020		2019
Revenues
Rental	$	–	$	404,488
Interest and other		–		2,157
		–		406,645
Expenses
Interest		–		58,450
Depreciation and amortization		–		131,653
Operating expenses		–		218,081
		–		408,184
NET INCOME (LOSS)	$	–	$	(1,539)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(1,524)
Net income (loss) allocated to other Partners	$	–	$	(15)

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

	2020		2019
Revenues
Rental	$	–	$	88,773
Interest and other		–		810
		–		89,583
Expenses
Interest		–		21,196
Depreciation and amortization		–		27,363
Operating expenses		–		85,948
		–		134,507
NET INCOME (LOSS)	$	–	$	(44,924)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(44,475)
Net income (loss) allocated to other Partners	$	–	$	(449)

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

	2020		2019
Revenues
Rental	$	—	$	–
Interest and other		—		–
		—		–
Expenses
Interest		—		–
Depreciation and amortization		—		–
Operating expenses		—		–
		—		–
NET INCOME (LOSS)	$	—	$	–
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	—	$	–
Net income (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
Interest and other		–		887
		–		116,099
Expenses
Interest		–		13,168
Depreciation and amortization		–		27,635
Operating expenses		–		99,031
		–		139,834
NET INCOME (LOSS)	$	–	$	(23,735)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(23,498)
Net income (loss) allocated to other Partners	$	–	$	(237)

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

	2020		2019
Revenues
Rental	$	—	$	—
Interest and other		—		—
		—		—
Expenses
Interest		—		—
Depreciation and amortization		—		—
Operating expenses		—		—
		—		—
NET INCOME (LOSS)	$	—	$	—
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	—	$	—
Net income (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

	2020		2019
Revenues
Rental	$	–	$	486,308
Interest and other		–		9,251
		–		495,559
Expenses
Interest		–		80,247
Depreciation and amortization		–		122,649
Operating expenses		–		362,884
		–		565,780
NET INCOME (LOSS)	$	–	$	(70,221)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(69,519)
Net income (loss) allocated to other Partners	$	–	$	(702)

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

	2020		2019
Revenues
Rental	$	1,524,961	$	1,780,047
Interest and other		38,570		31,950
		1,563,531		1,811,997
Expenses
Interest		275,662		283,344
Depreciation and amortization		280,652		368,462
Operating expenses		1,014,090		1,294,393
		1,570,404		1,946,199
NET INCOME (LOSS)	$	(6,873)	$	(134,202)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(6,804)	$	(132,860)
Net income (loss) allocated to other Partners	$	(69)	$	(1,342)

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

	2020		2019
Revenues
Rental	$	964,900	$	1,131,169
Interest and other		44,353		42,952
		1,009,253		1,174,121
Expenses
Interest		187,840		217,395
Depreciation and amortization		244,575		323,583
Operating expenses		781,356		851,969
		1,213,771		1,392,947
NET INCOME (LOSS)	$	(204,518)	$	(218,826)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(202,473)	$	(216,638)
Net income (loss) allocated to other Partners	$	(2,045)	$	(2,188)

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

	2020		2019
Revenues
Rental	$	430,480	$	1,312,145
Interest and other		13,457		36,262
		443,937		1,348,407
Expenses
Interest		31,491		113,547
Depreciation and amortization		170,133		372,693
Operating expenses		396,077		1,068,124
		597,701		1,554,364
NET INCOME (LOSS)	$	(153,764)	$	(205,957)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(152,226)	$	(203,897)
Net income (loss) allocated to other Partners	$	(1,538)	$	(2,060)

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

	2020		2019
Revenues
Rental	$	1,817,906	$	2,449,364
Interest and other		20,511		51,200
		1,838,417		2,500,564
Expenses
Interest		435,314		553,571
Depreciation and amortization		339,618		513,484
Operating expenses		786,743		1,447,637
		1,561,675		2,514,692
NET INCOME (LOSS)	$	276,742	$	(14,128)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	273,975	$	(13,987)
Net income (loss) allocated to other Partners	$	2,767	$	(141)

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

	2020		2019
Revenues
Rental	$	1,786,650	$	3,290,532
Interest and other		24,785		76,870
		1,811,435		3,367,402
Expenses
Interest		270,649		404,349
Depreciation and amortization		447,266		826,542
Operating expenses		1,302,011		2,560,676
		2,019,926		3,791,567
NET INCOME (LOSS)	$	(208,491)	$	(424,165)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(206,406)	$	(419,923)
Net income (loss) allocated to other Partners	$	(2,085)	$	(4,242)

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

	2020		2019
Revenues
Rental	$	2,325,142	$	2,487,589
Interest and other		53,365		37,966
		2,378,507		2,525,555
Expenses
Interest		463,915		480,436
Depreciation and amortization		498,424		567,482
Operating expenses		1,445,816		1,529,363
		2,408,155		2,577,281
NET INCOME (LOSS)	$	(29,648)	$	(51,726)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(29,352)	$	(51,209)
Net income (loss) allocated to other Partners	$	(296)	$	(517)

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