INVESTMENTS IN OPERATING PARTNERSHIPS (Tables)

3 Months Ended

Jun. 30, 2020

INVESTMENTS IN OPERATING PARTNERSHIPS

Schedule of operating partnerships within the fund

The breakdown of Operating Partnerships within the Fund at June 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	–	3
Series 28	–	4
Series 29	4	5
Series 30	–	–
Series 31	–	–
Series 32	3	5
Series 33	2	3
Series 34	2	4
Series 35	–	2
Series 36	–	1
Series 37	–	–
Series 38	–	1
Series 39	–	–
Series 40	–	7
Series 41	8	11
Series 42	6	9
Series 43	10	12
Series 44	3	6
Series 45	13	22
Series 46	11	14
	65	121

Schedule of contributions payable

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

	2020		2019
Series 29	$	785	$	785
Series 32		–		1,229
Series 40		–		102
Series 42		254		254
Series 45		–		16,724
	$	1,039	$	19,094

Schedule of dispositions by series

During the three months ended June 30, 2020 the Fund disposed of three Operating Partnerships. A summary of the dispositions by Series for June 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 43	1	—		9,000		9,000
Series 46	1	—		68,500		68,500
Total	3	—	$	87,000	$	87,000

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

	Operating	Sale of
	Partnership	Underlying	Fund Proceeds
	Interest	Operating	from		Gain on
	Transferred	Partnership	Disposition		Disposition
Series 31	–	1	$	587,469	$	587,469
Series 36	–	1		476,325		476,325
Series 38	1	1		1,463,974		1,463,974
Series 43	–	1		1,060,582		1,060,582
Series 44	–	1		1,296,267		1,296,267
Total	1	5	$	4,884,617	$	4,884,617

Schedule of summarized statement of operations in operating partnerships.

Accordingly, the current financial results available for the Operating Partnerships are for the three months ended March 31, 2020.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Three Months Ended March 31,

(Unaudited)

	2020		2019
Revenues
Rental	$	6,174,994	$	9,231,700
Interest and other		141,707		237,336
		6,316,701		9,469,036
Expenses
Interest		1,056,994		1,459,326
Depreciation and amortization		1,393,692		2,269,401
Operating expenses		4,321,460		6,755,756
		6,772,146		10,484,483
NET INCOME (LOSS)	$	(455,445)	$	(1,015,447)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(450,891)	$	(1,005,291)
Net income (loss) allocated to other Partners	$	(4,554)	$	(10,156)

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

Three 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

Three Months Ended March 31,

(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

Three Months Ended March 31,

(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

Three Months Ended March 31,

(Unaudited)

Series 23

	2020		2019
Revenues
Rental	$	-	$	l–
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

Three Months Ended March 31,

(Unaudited)

Series 24

	2020		2019
Revenues
Rental	$	–	$	211,158
Interest and other		–		9,766
		–		220,924
Expenses
Interest		–		18,234
Depreciation and amortization		–		59,451
Operating expenses		–		177,353
		–		255,038
NET INCOME (LOSS)	$	–	$	(34,114)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(33,773)
Net income (loss) allocated to other  Partners	$	–	$	(341)

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

Three Months Ended March 31,

(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

Three Months Ended March 31,

(Unaudited)

Series 26

	2020		2019
Revenues
Rental	$	108,570	$	302,606
Interest and other		1,225		4,753
		109,795		307,359
Expenses
Interest		13,666		53,441
Depreciation and amortization		27,578		78,644
Operating expenses		111,496		284,598
		152,740		416,683
NET INCOME (LOSS)	$	(42,945)	$	(109,324)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(42,516)	$	(108,231)
Net income (loss) allocated to other  Partners	$	(429)	$	(1,093)

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

Three Months Ended March 31,

(Unaudited)

Series 27

	2020		2019
Revenues
Rental	$	–	$	165,830
Interest and other		–		2,311
		–		168,141
Expenses
Interest		–		7,779
Depreciation and amortization		–		44,584
Operating expenses		–		142,630
		–		194,993
NET INCOME (LOSS)	$	–	$	(26,852)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(26,583)
Net income (loss) allocated to other  Partners	$	–	$	(269)

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

Three Months Ended March 31,

(Unaudited)

Series 28

	2020		2019
Revenues
Rental	$	–	$	209,625
Interest and other		–		6,436
		–		216,061
Expenses
Interest		–		31,289
Depreciation and amortization		–		45,523
Operating expenses		–		167,651
		–		244,463
NET INCOME (LOSS)	$	–	$	(28,402)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(28,118)
Net income (loss) allocated to other  Partners	$	–	$	(284)

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

Three Months Ended March 31,

(Unaudited)

Series 29

	2020		2019
Revenues
Rental	$	208,972	$	232,114
Interest and other		6,445		21,992
		215,417		254,106
Expenses
Interest		33,626		39,826
Depreciation and amortization		37,182		46,163
Operating expenses		184,989		210,830
		255,797		296,819
NET INCOME (LOSS)	$	(40,380)	$	(42,713)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(39,976)	$	(42,286)
Net income (loss) allocated to other  Partners	$	(404)	$	(427)

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

Three Months Ended March 31,

(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

Three Months Ended March 31,

(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

Three Months Ended March 31,

(Unaudited)

Series 32

	2020		2019
Revenues
Rental	$	292,621	$	380,931
Interest and other		4,873		6,850
		297,494		387,781
Expenses
Interest		44,187		62,686
Depreciation and amortization		87,094		109,523
Operating expenses		250,700		306,902
		381,981		479,111
NET INCOME (LOSS)	$	(84,487)	$	(91,330)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(83,642)	$	(90,417)
Net income (loss) allocated to other  Partners	$	(845)	$	(913)

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

Three Months Ended March 31,

(Unaudited)

Series 33

	2020		2019
Revenues
Rental	$	224,455	$	322,135
Interest and other		7,915		10,404
		232,370		332,539
Expenses
Interest		37,328		46,610
Depreciation and amortization		48,034		70,198
Operating expenses		172,781		217,428
		258,143		334,236
NET INCOME (LOSS)	$	(25,773)	$	(1,697)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(25,515)	$	(1,680)
Net income (loss) allocated to other  Partners	$	(258)	$	(17)

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

Three Months Ended March 31,

(Unaudited)

Series 34

	2020		2019
Revenues
Rental	$	163,362	$	246,003
Interest and other		5,670		16,394
		169,032		262,397
Expenses
Interest		24,983		30,082
Depreciation and amortization		38,249		68,466
Operating expenses		140,447		213,930
		203,679		312,478
NET INCOME (LOSS)	$	(34,647)	$	(50,081)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(34,301)	$	(49,580)
Net income (loss) allocated to other  Partners	$	(346)	$	(501)

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

Three Months Ended March 31,

(Unaudited)

Series 35

	2020		2019
Revenues
Rental	$	–	$	271,017
Interest and other		–		4,005
		–		275,022
Expenses
Interest		–		42,885
Depreciation and amortization		–		81,433
Operating expenses		–		151,786
		–		276,104
NET INCOME (LOSS)	$	–	$	(1,082)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(1,071)
Net income (loss) allocated to other  Partners	$	–	$	(11)

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

Three Months Ended March 31,

(Unaudited)

Series 36

	2020		2019
Revenues
Rental	$	–	$	44,387
Interest and other		–		405
		–		44,792
Expenses
Interest		–		10,598
Depreciation and amortization		–		13,681
Operating expenses		–		42,974
		–		67,253
NET INCOME (LOSS)	$	–	$	(22,461)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(22,236)
Net income (loss) allocated to other  Partners	$	–	$	(225)

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

Three Months Ended March 31,

(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

Three Months Ended March 31,

(Unaudited)

Series 38

	2020		2019
Revenues
Rental	$	–	$	57,606
Interest and other		–		444
		–		58,050
Expenses
Interest		–		6,584
Depreciation and amortization		–		13,817
Operating expenses		–		49,515
		–		69,916
NET INCOME (LOSS)	$	–	$	(11,866)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(11,747)
Net income (loss) allocated to other  Partners	$	–	$	(119)

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

Three Months Ended March 31,

(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

Three Months Ended March 31,

(Unaudited)

Series 40

	2020		2019
Revenues
Rental	$	–	$	441,912
Interest and other		–		8,469
		–		450,381
Expenses
Interest		–		72,357
Depreciation and amortization		–		112,261
Operating expenses		–		324,446
		–		509,064
NET INCOME (LOSS)	$	–	$	(58,683)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	–	$	(58,096)
Net income (loss) allocated to other  Partners	$	–	$	(587)

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

Three Months Ended March 31,

(Unaudited)

Series 41

	2020		2019
Revenues
Rental	$	804,868	$	890,023
Interest and other		20,306		15,975
		825,174		905,998
Expenses
Interest		142,009		141,672
Depreciation and amortization		153,428		184,231
Operating expenses		536,406		647,197
		831,843		973,100
NET INCOME (LOSS)	$	(6,669)	$	(67,102)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(6,602)	$	(66,431)
Net income (loss) allocated to other  Partners	$	(67)	$	(671)

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

Three Months Ended March 31,

(Unaudited)

Series 42

	2020		2019
Revenues
Rental	$	482,450	$	565,584
Interest and other		22,177		21,476
		504,627		587,060
Expenses
Interest		93,920		108,697
Depreciation and amortization		122,288		161,791
Operating expenses		390,678		425,984
		606,886		696,472
NET INCOME (LOSS)	$	(102,259)	$	(109,412)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(101,236)	$	(108,318)
Net income (loss) allocated to other  Partners	$	(1,023)	$	(1,094)

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

Three Months Ended March 31,

(Unaudited)

Series 43

	2020		2019
Revenues
Rental	$	625,563	$	709,186
Interest and other		16,770		22,890
		642,333		732,076
Expenses
Interest		51,066		58,995
Depreciation and amortization		169,541		209,208
Operating expenses		510,237		571,390
		730,844		839,593
NET INCOME (LOSS)	$	(88,511)	$	(107,517)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(87,626)	$	(106,442)
Net income (loss) allocated to other  Partners	$	(885)	$	(1,075)

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

Three Months Ended March 31,

(Unaudited)

Series 44

	2020		2019
Revenues
Rental	$	908,953	$	1,292,523
Interest and other		10,255		27,348
		919,208		1,319,871
Expenses
Interest		217,657		285,199
Depreciation and amortization		169,809		273,415
Operating expenses		393,371		776,122
		780,837		1,334,736
NET INCOME (LOSS)	$	138,371	$	(14,865)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	136,987	$	(14,716)
Net income (loss) allocated to other Partners	$	1,384	$	(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

Three Months Ended March 31,

(Unaudited)

Series 45

	2020		2019
Revenues
Rental	$	1,154,815	$	1,645,266
Interest and other		19,363		38,435
		1,174,178		1,683,701
Expenses
Interest		165,201		202,174
Depreciation and amortization		277,464		413,271
Operating expenses		880,025		1,280,338
		1,322,690		1,895,783
NET INCOME (LOSS)	$	(148,512)	$	(212,082)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(147,027)	$	(209,961)
Net income (loss) allocated to other  Partners	$	(1,485)	$	(2,121)

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

Three Months Ended March 31,

(Unaudited)

Series 46

	2020		2019
Revenues
Rental	$	1,200,365	$	1,243,794
Interest and other		26,708		18,983
		1,227,073		1,262,777
Expenses
Interest		233,351		240,218
Depreciation and amortization		263,025		283,741
Operating expenses		750,330		764,682
		1,246,706		1,288,641
NET INCOME (LOSS)	$	(19,633)	$	(25,864)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.	$	(19,437)	$	(25,605)
Net income (loss) allocated to other  Partners	$	(196)	$	(259)

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