INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Tables)

12 Months Ended

Mar. 31, 2015

Investments In Operating Partnerships [Abstract]

Schedule Of Number Of Operating Partnerships [Table Text Block]

The number of operating limited partnerships in which the fund has limited partnership interests at March 31, 2015 and 2014 by series are as follows:

	2015	2014
Series 20	4	8
Series 21	4	4
Series 22	6	8
Series 23	9	11
Series 24	6	7
Series 25	4	6
Series 26	17	24
Series 27	7	10
Series 28	11	19
Series 29	10	17
Series 30	11	16
Series 31	19	22
Series 32	11	14
Series 33	6	8
Series 34	9	12
Series 35	9	10
Series 36	9	9
Series 37	6	7
Series 38	10	10
Series 39	9	9
Series 40	16	16
Series 41	19	19
Series 42	20	21
Series 43	23	23
Series 44	8	8
Series 45	28	28
Series 46	15	15
	306	361

Schedule Of Dispositions By Series [Table Text Block]

During the year ended March 31, 2015 the Fund disposed of fifty five Operating Partnerships. Gain on disposition is included in share of income (losses) from operating limited partnerships. A summary of the dispositions by Series for March 31, 2015 is as follows.

	Operating Partnership Interest Transferred		Sale of Underlying Operating Partnership		Partnership Proceeds from Disposition *		Gain on Disposition
Series 20		4		-	$	70,580	$	70,580
Series 22		1		1		166,896		166,896
Series 23		1		1		426,346		426,346
Series 24		-		1		127,287		207,327
Series 25		2		-		1,295,124		1,295,124
Series 26		5		2		576,832		647,125
Series 27		3		-		234,376		237,896
Series 28		8		-		5,813,850		5,854,818
Series 29		7		-		278,493		278,493
Series 30		5		-		21,630		94,887
Series 31		2		1		2,840,263		2,840,263
Series 32		3		-		105,416		107,673
Series 33		2		-		53,079		53,079
Series 34		3		-		502,727		502,727
Series 35		1		-		-		-
Series 36		-		-		25,054		25,054
Series 37		1		-		-		-
Series 39		-		-		29,999		29,999
Series 42		-		1		63,548		103,508
Total		48		7	$	12,631,500	$	12,941,795

* Fund proceeds from disposition does not include the following amounts which were due to writeoffs of capital contribution payables of $1,293, $3,520, $40,968, $22,257 and $2,257, for Series 26, Series 27, Series 28, Series 30 and Series 32, respectively. As well as proceeds from disposition recorded as a receivable of $80,040, $69,000, $51,000 and $39,960, for Series 24, Series 26, Series 30 and Series 42, respectively.

During the year ended March 31, 2014 the Fund disposed of thirty eight Operating Partnerships. Gain on disposition is included in share of income (losses) from operating limited partnerships. A summary of the dispositions by Series for March 31, 2014 is as follows.

	Operating Partnership Interest Transferred		Sale of Underlying Operating Partnership		Partnership Proceeds from Disposition *		Gain on Disposition
Series 20		3		-	$	722,000	$	722,000
Series 21		1		-		79,000		79,000
Series 22		2		-		-		-
Series 24		3		3		1,630,062		1,630,062
Series 25		1		-		618,889		-
Series 26		1		6		2,801,657		2,801,657
Series 27		2		1		2,508,394		2,508,394
Series 28		1		-		939,495		939,495
Series 29		2		2		342,694		344,656
Series 31		3		-		624,556		624,556
Series 32		1		-		3,428		3,428
Series 34		1		-		176,333		176,333
Series 41		1		-		52,000		52,000
Series 44		-		2		-		-
Series 45		1		1		1,044		1,044
Total		23		15	$	10,499,552	$	9,882,625

* Fund proceeds from disposition include $618,889 recorded as a receivable as of March 31, 2013, for Series 25. Proceeds from disposition does not include $1,962 which was due to a writeoff of capital contribution payable for Series 29.

Schedule Of Contributions Payable [Table Text Block]

At March 31, 2015 and 2014, contributions are payable to operating limited partnerships as follows:

	2015		2014
Series 20	$	-	$	-
Series 21		-		-
Series 22		9,352		9,352
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		1,293
Series 27		-		10,020
Series 28		-		40,968
Series 29		8,235		8,235
Series 30		105,139		127,396
Series 31		66,294		66,294
Series 32		1,229		3,486
Series 33		69,154		69,154
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		138,438		138,438
Series 38		-		-
Series 39		-		-
Series 40		102		102
Series 41		100		100
Series 42		73,433		73,433
Series 43		99,265		99,265
Series 44		-		-
Series 45		16,724		16,724
Series 46		-		-
	$	587,465	$	664,260

Schedule Of Partnerships Investments In Operating Limited Partnerships [Table Text Block]

The Fund’s investments in operating limited partnerships at March 31, 2015 are summarized as follows:

	Total		Series 20		Series 21
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	362,424,465	$	1,510,993	$	3,570,455
Acquisition costs of operating limited partnerships		16,569,094		215,748		590,143
Cumulative distributions from operating limited partnerships		(2,828,871)		(7,394)		(22,441)
Cumulative impairment loss in investments in operating limited partnerships		(188,464,989)		(409,509)		(118,301)
Cumulative losses from operating limited partnerships		(185,900,981)		(1,309,838)		(4,019,856)
Investments in operating limited partnerships per balance sheet		1,798,718		-		-

	Total		Series 20		Series 21
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2015 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2014 (see note A).		(2,042,656)		-		-
The Fund has recorded acquisition costs at March 31, 2015 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(3,535,753)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		755,788		62,488		221,074
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(77,225,748)		(878,598)		(2,591,698)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		1,120,407		6,576		-
Cumulative impairment loss in investments in operating limited partnerships		188,464,989		409,509		118,301
Other		(1,748,455)		(11,516)		(171,733)
Equity per operating limited partnerships’ combined financial statements	$	107,587,290	$	(411,541)	$	(2,424,056)

The Fund’s investments in operating limited partnerships at March 31, 2015 are summarized as follows:

	Series 22		Series 23		Series 24
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	3,263,490	$	8,266,057	$	2,879,744
Acquisition costs of operating limited partnerships		400,455		1,233,111		310,375
Cumulative distributions from operating limited partnerships		-		-		(34,932)
Cumulative impairment loss in investments in operating limited partnerships		(1,289,080)		(5,298,843)		(1,151,381)
Cumulative losses from operating limited partnerships		(2,374,865)		(4,200,325)		(2,003,806)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 22		Series 23		Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2015 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2014 (see note A).		(384,587)		(11,581)		(30,158)
The Fund has recorded acquisition costs at March 31, 2015 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(157,772)		(62,597)		(91,548)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		15,621		10,974		841
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,689,653)		(1,281,140)		(1,941,970)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		34,901		6,688
Cumulative impairment loss in investments in operating limited partnerships		1,289,080		5,298,843		1,151,381
Other		(85,707)		(117,555)		122,471
Equity per operating limited partnerships’ combined financial statements	$	(1,013,018)	$	3,871,845	$	(782,295)

The Fund’s investments in operating limited partnerships at March 31, 2015 are summarized as follows:

	Series 25		Series 26		Series 27
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	1,438,868	$	6,172,370	$	8,111,853
Acquisition costs of operating limited partnerships		167,460		923,135		1,143,307
Cumulative distributions from operating limited partnerships		(57,503)		(45,647)		(14,167)
Cumulative impairment loss in investments in operating limited partnerships		(1,345,945)		(1,883,225)		(4,004,265)
Cumulative losses from operating limited partnerships		(202,880)		(5,166,633)		(5,236,728)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 25		Series 26		Series 27
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2015 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2014 (see note A).		-		(51,000)		(39,446)
The Fund has recorded acquisition costs at March 31, 2015 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		(59,837)		(449,204)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		31,239		57,289		195,417
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(273,564)		(4,399,020)		(1,526,506)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		171,816		-
Cumulative impairment loss in investments in operating limited partnerships		1,345,945		1,883,225		4,004,265
Other		(56,736)		(99,200)		(278,072)
Equity per operating limited partnerships’ combined financial statements	$	1,046,884	$	(2,496,727)	$	1,906,454

The Fund’s investments in operating limited partnerships at March 31, 2015 are summarized as follows:

	Series 28		Series 29		Series 30
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	10,960,734	$	12,349,386	$	9,309,581
Acquisition costs of operating limited partnerships		1,582,064		1,809,414		858,753
Cumulative distributions from operating limited partnerships		(175,027)		(14,324)		(29,880)
Cumulative impairment loss in investments in operating limited partnerships		(4,790,458)		(5,661,234)		(4,610,342)
Cumulative losses from operating limited partnerships		(7,577,313)		(8,483,242)		(5,528,112)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 28		Series 29		Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2015 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2014 (see note A).		(78,528)		-		(112,197)
The Fund has recorded acquisition costs at March 31, 2015 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(65,288)		(596,128)		(235,701)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		64,727		39,537		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,269,083)		(4,695,617)		(2,524,000)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		7,039		1,092
Cumulative impairment loss in investments in operating limited partnerships		4,790,458		5,661,234		4,610,342
Other		(151,455)		(25,793)		(11,648)
Equity per operating limited partnerships’ combined financial statements	$	1,290,831	$	390,272	$	1,727,888

The Fund’s investments in operating limited partnerships at March 31, 2015 are summarized as follows:

	Series 31		Series 32		Series 33
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	13,801,443	$	25,861,866	$	12,019,485
Acquisition costs of operating limited partnerships		1,979,717		3,319,960		950,957
Cumulative distributions from operating limited partnerships		(31,404)		(101,211)		(30,285)
Cumulative impairment loss in investments in operating limited partnerships		(9,196,909)		(13,359,327)		(7,924,274)
Cumulative losses from operating limited partnerships		(6,552,847)		(15,721,288)		(5,015,883)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 31		Series 32		Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2015 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2014 (see note A).		(47,462)		(172,318)		(179,468)
The Fund has recorded acquisition costs at March 31, 2015 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(77,600)		(1,284,335)		(167,193)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		56,581		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,913,882)		(7,152,320)		(2,003,965)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		8,501		38,357		9,684
Cumulative impairment loss in investments in operating limited partnerships		9,196,909		13,359,327		7,924,274
Other		(38,300)		306,885		(28,967)
Equity per operating limited partnerships’ combined financial statements	$	5,184,747	$	5,095,596	$	5,554,365

The Fund’s investments in operating limited partnerships at March 31, 2015 are summarized as follows:

	Series 34		Series 35		Series 36
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	14,233,556	$	18,025,083	$	13,848,638
Acquisition costs of operating limited partnerships		1,084,495		-		-
Cumulative distributions from operating limited partnerships		(20,308)		(30,252)		(116,200)
Cumulative impairment loss in investments in operating limited partnerships		(8,069,371)		(9,244,266)		(7,264,883)
Cumulative losses from operating limited partnerships		(7,228,372)		(8,750,565)		(6,467,555)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 34		Series 35		Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2015 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2014 (see note A).		(38,698)		-		(14,791)
The Fund has recorded acquisition costs at March 31, 2015 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(288,550)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,231,532)		(3,920,392)		(2,224,599)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		78,017		1,370
Cumulative impairment loss in investments in operating limited partnerships		8,069,371		9,244,266		7,264,883
Other		(187,689)		3,660		(123,183)
Equity per operating limited partnerships’ combined financial statements	$	5,322,902	$	5,405,551	$	4,903,680

The Fund’s investments in operating limited partnerships at March 31, 2015 are summarized as follows:

	Series 37		Series 38		Series 39
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	16,191,586	$	18,852,167	$	15,245,900
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(202,524)		(531,129)		(224,758)
Cumulative impairment loss in investments in operating limited partnerships		(7,792,558)		(10,557,104)		(7,444,160)
Cumulative losses from operating limited partnerships		(8,196,504)		(7,763,934)		(7,576,982)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 37		Series 38		Series 39
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2015 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2014 (see note A).		(155,365)		-		-
The Fund has recorded acquisition costs at March 31, 2015 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(6,493,889)		(4,030,703)		(4,373,718)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		289,911		59,461		279,219
Cumulative impairment loss in investments in operating limited partnerships		7,792,558		10,557,104		7,444,160
Other		(99,062)		(381,673)		(96,276)
Equity per operating limited partnerships’ combined financial statements	$	1,334,153	$	6,204,189	$	3,253,385

The Fund’s investments in operating limited partnerships at March 31, 2015 are summarized as follows:

	Series 40		Series 41		Series 42
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	19,336,992	$	17,319,216	$	19,462,135
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(53,094)		(58,012)		(111,750)
Cumulative impairment loss in investments in operating limited partnerships		(10,641,244)		(7,024,673)		(10,714,201)
Cumulative losses from operating limited partnerships		(8,642,654)		(10,236,531)		(8,636,184)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 40		Series 41		Series 42
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2015 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2014 (see note A).		(25,172)		(33,807)		(409,845)
The Fund has recorded acquisition costs at March 31, 2015 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,158,206)		(2,647,711)		(2,985,744)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		78,811		1,049		20,012
Cumulative impairment loss in investments in operating limited partnerships		10,641,244		7,024,673		10,714,201
Other		(180,236)		(270,738)		141,234
Equity per operating limited partnerships’ combined financial statements	$	8,356,441	$	4,073,466	$	7,479,858

The Fund’s investments in operating limited partnerships at March 31, 2015 are summarized as follows:

	Series 43		Series 44		Series 45
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	26,617,048	$	15,745,838	$	25,706,915
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(353,944)		(49,763)		(313,429)
Cumulative impairment loss in investments in operating limited partnerships		(13,508,694)		(6,482,162)		(15,650,905)
Cumulative losses from operating limited partnerships		(12,754,410)		(9,213,913)		(8,904,476)
Investments in operating limited partnerships per balance sheet		-		-		838,105

	Series 43		Series 44		Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2015 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2014 (see note A).		(121,319)		-		(129,725)
The Fund has recorded acquisition costs at March 31, 2015 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,046,309)		(3,768,065)		(868,202)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		-		23,309
Cumulative impairment loss in investments in operating limited partnerships		13,508,694		6,482,162		15,650,905
Other		179,574		(46,681)		(58,263)
Equity per operating limited partnerships’ combined financial statements	$	10,520,640	$	2,667,416	$	15,456,129

The Fund’s investments in operating limited partnerships at March 31, 2015 are summarized as follows:

	Series 46
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	22,323,066
Acquisition costs of operating limited partnerships		-
Cumulative distributions from operating limited partnerships		(199,493)
Cumulative impairment loss in investments in operating limited partnerships		(13,027,675)
Cumulative losses from operating limited partnerships		(8,135,285)
Investments in operating limited partnerships per balance sheet		960,613

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2015 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2014 (see note A).		(7,189)
The Fund has recorded acquisition costs at March 31, 2015 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(335,662)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		4,594
Cumulative impairment loss in investments in operating limited partnerships		13,027,675
Other		18,204
Equity per operating limited partnerships’ combined financial statements	$	13,668,235

The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:

	Total		Series 20		Series 21
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	435,973,036	$	5,333,121	$	3,570,455
Acquisition costs of operating limited partnerships		25,929,137		719,243		590,143
Cumulative distributions from operating limited partnerships		(3,187,008)		(26,017)		(22,441)
Cumulative impairment loss in investments in operating limited partnerships		(216,038,394)		(1,333,677)		(118,301)
Cumulative losses from operating limited partnerships		(237,348,070)		(4,692,670)		(4,019,856)
Investments in operating limited partnerships per balance sheet		5,328,701		-		-

	Total		Series 20		Series 21
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A).		(2,570,666)		-		-
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(4,142,502)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		1,117,450		90,622		221,074
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(87,884,506)		(3,054,043)		(2,584,152)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		1,300,991		6,576		-
Cumulative impairment loss in investments in operating limited partnerships		216,038,394		1,333,677		118,301
Other		(2,313,297)		(41,692)		(170,410)
Equity per operating limited partnerships’ combined financial statements	$	126,874,565	$	(1,664,860)	$	(2,415,187)

The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:

	Series 22		Series 23		Series 24
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	3,854,180	$	10,391,895	$	4,404,391
Acquisition costs of operating limited partnerships		455,092		1,552,411		562,541
Cumulative distributions from operating limited partnerships		-		-		(34,932)
Cumulative impairment loss in investments in operating limited partnerships		(1,618,823)		(6,353,837)		(1,636,215)
Cumulative losses from operating limited partnerships		(2,690,449)		(5,590,469)		(3,295,785)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 22		Series 23		Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A).		(384,587)		(11,581)		(30,158)
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(157,772)		(62,597)		(91,548)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		25,824		54,934		841
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,708,122)		(2,436,164)		(2,148,403)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		34,901		6,688
Cumulative impairment loss in investments in operating limited partnerships		1,618,823		6,353,837		1,636,215
Other		(86,354)		(112,531)		128,312
Equity per operating limited partnerships’ combined financial statements	$	(692,188)	$	3,820,799	$	(498,053)

The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:

	Series 25		Series 26		Series 27
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	3,805,566	$	11,884,296	$	10,048,578
Acquisition costs of operating limited partnerships		508,635		1,664,905		1,450,069
Cumulative distributions from operating limited partnerships		(69,547)		(69,380)		(14,167)
Cumulative impairment loss in investments in operating limited partnerships		(3,245,521)		(4,338,427)		(4,558,902)
Cumulative losses from operating limited partnerships		(999,133)		(9,141,394)		(6,925,578)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 25		Series 26		Series 27
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A).		-		(70,440)		(286,388)
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		(59,837)		(449,204)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		31,239		114,788		204,661
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(467,648)		(5,296,972)		(1,965,626)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		187,072		-
Cumulative impairment loss in investments in operating limited partnerships		3,245,521		4,338,427		4,558,902
Other		(66,326)		(105,757)		(276,370)
Equity per operating limited partnerships’ combined financial statements	$	2,742,786	$	(892,719)	$	1,785,975

The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:

	Series 28		Series 29		Series 30
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	23,441,799	$	20,972,330	$	13,904,236
Acquisition costs of operating limited partnerships		3,437,921		3,024,114		1,439,788
Cumulative distributions from operating limited partnerships		(553,358)		(20,179)		(53,204)
Cumulative impairment loss in investments in operating limited partnerships		(16,476,882)		(5,875,856)		(6,613,997)
Cumulative losses from operating limited partnerships		(9,849,480)		(18,100,409)		(8,676,823)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 28		Series 29		Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A).		(233,630)		(83,498)		(135,225)
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(665,053)		(596,128)		(235,701)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		79,180		204,728		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(4,221,023)		(7,179,789)		(3,318,142)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		116,284		7,039		7,712
Cumulative impairment loss in investments in operating limited partnerships		16,476,882		5,875,856		6,613,997
Other		(563,831)		(91,528)		1,847
Equity per operating limited partnerships’ combined financial statements	$	10,988,809	$	(1,863,320)	$	2,934,488

The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:

	Series 31		Series 32		Series 33
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	22,008,435	$	29,433,847	$	14,744,596
Acquisition costs of operating limited partnerships		3,165,164		3,834,299		1,349,820
Cumulative distributions from operating limited partnerships		(31,404)		(101,211)		(30,285)
Cumulative impairment loss in investments in operating limited partnerships		(11,182,057)		(14,763,087)		(9,162,728)
Cumulative losses from operating limited partnerships		(13,960,138)		(18,403,848)		(6,901,403)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 31		Series 32		Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A).		(47,462)		(172,318)		(179,468)
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(77,600)		(1,284,335)		(167,193)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		89,559		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(7,965,109)		(6,317,426)		(2,659,844)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		30,562		38,357		9,684
Cumulative impairment loss in investments in operating limited partnerships		11,182,057		14,763,087		9,162,728
Other		(342,863)		322,700		(42,784)
Equity per operating limited partnerships’ combined financial statements	$	2,869,144	$	7,350,065	$	6,123,123

The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:

	Series 34		Series 35		Series 36
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	22,921,365	$	20,689,083	$	13,848,639
Acquisition costs of operating limited partnerships		2,174,992		-		-
Cumulative distributions from operating limited partnerships		(20,308)		(30,252)		(116,200)
Cumulative impairment loss in investments in operating limited partnerships		(10,625,803)		(11,273,719)		(7,246,265)
Cumulative losses from operating limited partnerships		(14,450,246)		(9,385,112)		(6,486,174)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 34		Series 35		Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A).		(38,698)		-		(14,791)
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(295,534)		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(5,821,899)		(3,511,421)		(1,659,966)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		6,464		78,017		1,370
Cumulative impairment loss in investments in operating limited partnerships		10,625,803		11,273,719		7,246,265
Other		(274,264)		7,538		(99,055)
Equity per operating limited partnerships’ combined financial statements	$	4,201,872	$	7,847,853	$	5,473,823

The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:

	Series 37		Series 38		Series 39
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	18,424,489	$	18,852,167	$	16,699,847
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(202,524)		(531,129)		(224,758)
Cumulative impairment loss in investments in operating limited partnerships		(7,792,558)		(10,527,541)		(7,438,510)
Cumulative losses from operating limited partnerships		(10,429,407)		(7,793,497)		(9,036,579)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 37		Series 38		Series 39
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A).		(155,365)		-		-
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(6,441,485)		(3,627,297)		(3,876,967)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		303,810		59,461		279,219
Cumulative impairment loss in investments in operating limited partnerships		7,792,558		10,527,541		7,438,510
Other		(57,600)		(328,344)		(82,953)
Equity per operating limited partnerships’ combined financial statements	$	1,441,918	$	6,631,361	$	3,757,809

The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:

	Series 40		Series 41		Series 42
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	19,336,992	$	17,319,216	$	19,690,646
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(53,094)		(58,012)		(111,750)
Cumulative impairment loss in investments in operating limited partnerships		(10,639,800)		(7,005,127)		(10,428,111)
Cumulative losses from operating limited partnerships		(8,644,098)		(10,256,077)		(9,150,785)
Investments in operating limited partnerships per balance sheet		-		-		-

	Series 40		Series 41		Series 42
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A).		(25,172)		(33,807)		(409,845)
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,365,798)		(2,219,955)		(2,319,513)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		78,811		1,049		20,012
Cumulative impairment loss in investments in operating limited partnerships		10,639,800		7,005,127		10,428,111
Other		(171,079)		(230,969)		194,228
Equity per operating limited partnerships’ combined financial statements	$	9,156,562	$	4,521,445	$	7,912,993

The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:

	Series 43		Series 44		Series 45
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	26,617,048	$	15,745,838	$	25,706,915
Acquisition costs of operating limited partnerships		-		-		-
Cumulative distributions from operating limited partnerships		(337,804)		(49,763)		(305,087)
Cumulative impairment loss in investments in operating limited partnerships		(13,050,566)		(6,453,489)		(14,657,544)
Cumulative losses from operating limited partnerships		(13,050,348)		(9,242,586)		(8,739,792)
Investments in operating limited partnerships per balance sheet		178,330		-		2,004,492

	Series 43		Series 44		Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A).		(121,319)		-		(129,725)
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		-		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		-		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,380,028)		(3,122,647)		(194,482)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		-		23,309
Cumulative impairment loss in investments in operating limited partnerships		13,050,566		6,453,489		14,657,544
Other		243,042		(40,728)		(11,108)
Equity per operating limited partnerships’ combined financial statements	$	10,970,591	$	3,290,114	$	16,350,030

The Fund’s investments in operating limited partnerships at March 31, 2014 are summarized as follows:

	Series 46
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	22,323,066
Acquisition costs of operating limited partnerships		-
Cumulative distributions from operating limited partnerships		(120,202)
Cumulative impairment loss in investments in operating limited partnerships		(11,621,051)
Cumulative losses from operating limited partnerships		(7,435,934)
Investments in operating limited partnerships per balance sheet		3,145,879

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2014 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2013 (see note A).		(7,189)
The Fund has recorded acquisition costs at March 31, 2014 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(20,585)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		4,594
Cumulative impairment loss in investments in operating limited partnerships		11,621,051
Other		(14,418)
Equity per operating limited partnerships’ combined financial statements	$	14,729,332

Schedule Of Summarized Balance Sheets In Operating Partnerships [Table Text Block]

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2014 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS

	Total		Series 20		Series 21
ASSETS
Buildings and improvements, net of accumulated depreciation	$	643,136,945	$	3,625,211	$	6,543,920
Land		63,678,550		310,538		1,464,660
Other assets		76,114,588		1,305,760		932,379
	$	782,930,083	$	5,241,509	$	8,940,959
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	545,481,456	$	4,932,946	$	8,323,171
Accounts payable and accrued expenses		25,743,415		145,582		90,011
Other liabilities		80,982,365		166,750		2,429,437
		652,207,236		5,245,278		10,842,619
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		107,587,290		(411,541)		(2,424,056)
Other partners		23,135,557		407,772		522,396
		130,722,847		(3,769)		(1,901,660)
	$	782,930,083	$	5,241,509	$	8,940,959

	Series 22		Series 23		Series 24
ASSETS
Buildings and improvements, net of accumulated depreciation	$	6,858,694	$	14,991,634	$	3,832,071
Land		782,898		1,283,705		636,838
Other assets		1,696,904		4,500,833		639,350
	$	9,338,496	$	20,776,172	$	5,108,259
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	8,506,421	$	13,062,557	$	5,408,937
Accounts payable and accrued expenses		168,965		419,421		129,339
Other liabilities		1,209,500		5,674,416		231,749
		9,884,886		19,156,394		5,770,025
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(1,013,018)		3,871,845		(782,295)
Other partners		466,628		(2,252,067)		120,529
		(546,390)		1,619,778		(661,766)
	$	9,338,496	$	20,776,172	$	5,108,259

	Series 25		Series 26		Series 27
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,242,898	$	11,024,782	$	18,101,607
Land		203,400		782,964		2,571,668
Other assets		935,602		1,609,839		2,321,795
	$	4,381,900	$	13,417,585	$	22,995,070
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,398,445	$	13,905,526	$	15,948,349
Accounts payable and accrued expenses		75,252		1,381,537		575,840
Other liabilities		28,929		1,204,536		2,764,831
		3,502,626		16,491,599		19,289,020
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,046,884		(2,496,727)		1,906,454
Other partners		(167,610)		(577,287)		1,799,596
		879,274		(3,074,014)		3,706,050
	$	4,381,900	$	13,417,585	$	22,995,070

	Series 28		Series 29		Series 30
ASSETS
Buildings and improvements, net of accumulated depreciation	$	12,132,948	$	15,511,573	$	14,314,945
Land		878,622		971,827		900,248
Other assets		1,439,956		1,705,197		1,466,368
	$	14,451,526	$	18,188,597	$	16,681,561
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	13,090,094	$	12,646,411	$	10,346,223
Accounts payable and accrued expenses		388,547		1,087,589		998,836
Other liabilities		930,687		2,769,167		1,828,521
		14,409,328		16,503,167		13,173,580
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,290,831		390,272		1,727,888
Other partners		(1,248,633)		1,295,158		1,780,093
		42,198		1,685,430		3,507,981
	$	14,451,526	$	18,188,597	$	16,681,561

	Series 31		Series 32		Series 33
ASSETS
Buildings and improvements, net of accumulated depreciation	$	21,655,860	$	25,918,816	$	18,707,898
Land		1,740,577		1,976,640		1,715,582
Other assets		3,030,456		3,049,127		1,581,953
	$	26,426,893	$	30,944,583	$	22,005,433
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	20,062,618	$	18,852,353	$	9,868,952
Accounts payable and accrued expenses		613,701		2,727,780		528,672
Other liabilities		1,077,309		1,827,768		981,258
		21,753,628		23,407,901		11,378,882
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		5,184,747		5,095,596		5,554,365
Other partners		(511,482)		2,441,086		5,072,186
		4,673,265		7,536,682		10,626,551
	$	26,426,893	$	30,944,583	$	22,005,433

	Series 34		Series 35		Series 36
ASSETS
Buildings and improvements, net of accumulated depreciation	$	14,281,390	$	29,065,571	$	21,881,907
Land		1,414,016		3,257,482		2,013,180
Other assets		2,002,710		3,087,417		3,134,697
	$	17,698,116	$	35,410,470	$	27,029,784
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	8,731,816	$	19,034,538	$	16,606,099
Accounts payable and accrued expenses		459,165		1,138,581		1,885,310
Other liabilities		3,023,947		7,681,564		698,641
		12,214,928		27,854,683		19,190,050
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		5,322,902		5,405,551		4,903,680
Other partners		160,286		2,150,236		2,936,054
		5,483,188		7,555,787		7,839,734
	$	17,698,116	$	35,410,470	$	27,029,784

	Series 37		Series 38		Series 39
ASSETS
Buildings and improvements, net of accumulated depreciation	$	23,225,624	$	20,086,965	$	16,091,929
Land		1,625,738		1,581,706		1,238,488
Other assets		2,122,745		2,310,351		1,849,657
	$	26,974,107	$	23,979,022	$	19,180,074
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	18,102,339	$	16,380,916	$	12,920,594
Accounts payable and accrued expenses		2,242,617		226,126		328,139
Other liabilities		5,906,849		2,851,697		3,036,787
		26,251,805		19,458,739		16,285,520
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,334,153		6,204,189		3,253,385
Other partners		(611,851)		(1,683,906)		(358,831)
		722,302		4,520,283		2,894,554
	$	26,974,107	$	23,979,022	$	19,180,074

	Series 40		Series 41		Series 42
ASSETS
Buildings and improvements, net of accumulated depreciation	$	49,669,979	$	60,088,438	$	50,330,678
Land		5,081,041		7,916,005		6,817,765
Other assets		4,338,332		6,109,616		5,917,513
	$	59,089,352	$	74,114,059	$	63,065,956
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	44,624,113	$	58,323,909	$	44,002,008
Accounts payable and accrued expenses		1,510,347		1,502,484		2,864,402
Other liabilities		5,714,179		4,420,076		4,190,623
		51,848,639		64,246,469		51,057,033
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		8,356,441		4,073,466		7,479,858
Other partners		(1,115,728)		5,794,124		4,529,065
		7,240,713		9,867,590		12,008,923
	$	59,089,352	$	74,114,059	$	63,065,956

	Series 43		Series 44		Series 45
ASSETS
Buildings and improvements, net of accumulated depreciation	$	54,324,753	$	38,754,799	$	49,851,218
Land		6,704,151		3,130,916		4,314,836
Other assets		5,091,670		3,719,161		6,456,454
	$	66,120,574	$	45,604,876	$	60,622,508
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	46,572,599	$	40,439,227	$	36,837,677
Accounts payable and accrued expenses		1,825,301		760,173		1,224,404
Other liabilities		5,807,116		6,223,095		5,049,307
		54,205,016		47,422,495		43,111,388
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		10,520,640		2,667,416		15,456,129
Other partners		1,394,918		(4,485,035)		2,054,991
		11,915,558		(1,817,619)		17,511,120
	$	66,120,574	$	45,604,876	$	60,622,508

	Series 46
ASSETS
Buildings and improvements, net of accumulated depreciation	$	39,020,837
Land		2,363,059
Other assets		3,758,746
	$	45,142,642
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	24,552,618
Accounts payable and accrued expenses		445,294
Other liabilities		3,253,626
		28,251,538
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		13,668,235
Other partners		3,222,869
		16,891,104
	$	45,142,642

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2013 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS

	Total		Series 20		Series 21
ASSETS
Buildings and improvements, net of accumulated depreciation	$	804,332,315	$	7,618,706	$	6,797,230
Land		80,926,445		599,606		1,464,660
Other assets		95,869,177		1,664,413		952,337
	$	981,127,937	$	9,882,725	$	9,214,227
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	695,075,698	$	9,608,148	$	8,521,356
Accounts payable and accrued expenses		34,451,133		329,159		179,419
Other liabilities		102,740,402		1,700,962		2,440,457
		832,267,233		11,638,269		11,141,232
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		126,874,565		(1,664,860)		(2,415,187)
Other partners		21,986,139		(90,684)		488,182
		148,860,704		(1,755,544)		(1,927,005)
	$	981,127,937	$	9,882,725	$	9,214,227

	Series 22		Series 23		Series 24
ASSETS
Buildings and improvements, net of accumulated depreciation	$	9,721,998	$	19,251,212	$	5,598,176
Land		1,344,018		1,783,889		878,838
Other assets		1,964,231		4,399,562		825,223
	$	13,030,247	$	25,434,663	$	7,302,237
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	11,309,139	$	16,321,731	$	6,832,986
Accounts payable and accrued expenses		637,925		4,039,613		145,054
Other liabilities		1,055,528		2,446,675		587,433
		13,002,592		22,808,019		7,565,473
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(692,188)		3,820,799		(498,053)
Other partners		719,843		(1,194,155)		234,817
		27,655		2,626,644		(263,236)
	$	13,030,247	$	25,434,663	$	7,302,237

	Series 25		Series 26		Series 27
ASSETS
Buildings and improvements, net of accumulated depreciation	$	5,858,313	$	20,816,786	$	27,102,078
Land		467,216		2,065,095		3,322,343
Other assets		1,144,296		3,147,651		3,457,512
	$	7,469,825	$	26,029,532	$	33,881,933
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	4,894,842	$	22,267,879	$	24,935,837
Accounts payable and accrued expenses		76,433		1,630,172		742,660
Other liabilities		47,680		2,463,351		5,726,429
		5,018,955		26,361,402		31,404,926
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,742,786		(892,719)		1,785,975
Other partners		(291,916)		560,849		691,032
		2,450,870		(331,870)		2,477,007
	$	7,469,825	$	26,029,532	$	33,881,933

	Series 28		Series 29		Series 30
ASSETS
Buildings and improvements, net of accumulated depreciation	$	31,466,642	$	30,182,087	$	20,404,092
Land		3,621,484		2,304,757		1,352,199
Other assets		3,997,916		4,409,048		2,160,619
	$	39,086,042	$	36,895,892	$	23,916,910
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	25,796,598	$	31,239,682	$	15,459,775
Accounts payable and accrued expenses		1,453,624		1,548,536		1,081,455
Other liabilities		2,659,578		6,097,567		2,599,052
		29,909,800		38,885,785		19,140,282
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		10,988,809		(1,863,320)		2,934,488
Other partners		(1,812,567)		(126,573)		1,842,140
		9,176,242		(1,989,893)		4,776,628
	$	39,086,042	$	36,895,892	$	23,916,910

	Series 31		Series 32		Series 33
ASSETS
Buildings and improvements, net of accumulated depreciation	$	35,608,336	$	33,741,875	$	31,950,307
Land		3,396,946		2,860,802		3,784,552
Other assets		6,338,410		4,245,903		2,724,574
	$	45,343,692	$	40,848,580	$	38,459,433
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	39,688,783	$	23,703,737	$	24,765,295
Accounts payable and accrued expenses		1,106,942		2,774,361		1,068,581
Other liabilities		4,006,594		3,393,544		2,423,976
		44,802,319		29,871,642		28,257,852
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,869,144		7,350,065		6,123,123
Other partners		(2,327,771)		3,626,873		4,078,458
		541,373		10,976,938		10,201,581
	$	45,343,692	$	40,848,580	$	38,459,433

	Series 34		Series 35		Series 36
ASSETS
Buildings and improvements, net of accumulated depreciation	$	33,437,658	$	33,687,421	$	23,352,582
Land		4,280,809		3,572,523		2,013,180
Other assets		4,066,426		3,225,731		3,054,336
	$	41,784,893	$	40,485,675	$	28,420,098
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	33,133,023	$	21,047,359	$	16,988,083
Accounts payable and accrued expenses		1,383,505		1,053,812		1,684,855
Other liabilities		5,207,301		7,923,562		726,794
		39,723,829		30,024,733		19,399,732
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		4,201,872		7,847,853		5,473,823
Other partners		(2,140,808)		2,613,089		3,546,543
		2,061,064		10,460,942		9,020,366
	$	41,784,893	$	40,485,675	$	28,420,098

	Series 37		Series 38		Series 39
ASSETS
Buildings and improvements, net of accumulated depreciation	$	30,680,540	$	21,174,700	$	17,030,411
Land		2,423,561		1,581,706		1,238,488
Other assets		3,153,869		2,263,552		1,848,616
	$	36,257,970	$	25,019,958	$	20,117,515
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	27,503,623	$	16,706,809	$	13,180,160
Accounts payable and accrued expenses		2,567,356		240,064		341,876
Other liabilities		6,209,057		2,719,890		2,931,884
		36,280,036		19,666,763		16,453,920
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,441,918		6,631,361		3,757,809
Other partners		(1,463,984)		(1,278,166)		(94,214)
		(22,066)		5,353,195		3,663,595
	$	36,257,970	$	25,019,958	$	20,117,515

	Series 40		Series 41		Series 42
ASSETS
Buildings and improvements, net of accumulated depreciation	$	52,009,241	$	62,749,098	$	54,155,724
Land		5,081,041		7,916,005		7,059,765
Other assets		4,514,209		6,419,595		6,402,555
	$	61,604,491	$	77,084,698	$	67,618,044
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	44,835,269	$	59,205,981	$	46,084,051
Accounts payable and accrued expenses		1,667,029		1,482,716		2,745,285
Other liabilities		6,319,795		6,264,564		5,776,778
		52,822,093		66,953,261		54,606,114
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		9,156,562		4,521,445		7,912,993
Other partners		(374,164)		5,609,992		5,098,937
		8,782,398		10,131,437		13,011,930
	$	61,604,491	$	77,084,698	$	67,618,044

	Series 43		Series 44		Series 45
ASSETS
Buildings and improvements, net of accumulated depreciation	$	56,978,000	$	40,573,656	$	51,826,015
Land		6,704,151		3,130,916		4,314,836
Other assets		5,412,878		3,902,028		6,284,278
	$	69,095,029	$	47,606,600	$	62,425,129
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	47,780,026	$	41,159,992	$	37,037,554
Accounts payable and accrued expenses		1,743,541		676,387		1,431,634
Other liabilities		6,746,944		6,607,924		4,603,925
		56,270,511		48,444,303		43,073,113
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		10,970,591		3,290,114		16,350,030
Other partners		1,853,927		(4,127,817)		3,001,986
		12,824,518		(837,703)		19,352,016
	$	69,095,029	$	47,606,600	$	62,425,129

	Series 46
ASSETS
Buildings and improvements, net of accumulated depreciation	$	40,559,431
Land		2,363,059
Other assets		3,889,409
	$	46,811,899
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	25,067,980
Accounts payable and accrued expenses		619,139
Other liabilities		3,053,158
		28,740,277
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		14,729,332
Other partners		3,342,290
		18,071,622
	$	46,811,899

Schedule Of Summarized Statement Of Operations In Operating Partnerships [Table Text Block]

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2014 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2014 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Total		Series 20		Series 21
Revenue
Rent	$	133,809,671	$	1,217,816	$	1,867,952
Interest and other		5,092,623		48,847		7,857
		138,902,294		1,266,663		1,875,809
Expenses
Interest		28,620,800		115,541		490,826
Depreciation and amortization		36,149,060		319,062		318,863
Taxes and insurance		16,948,203		138,980		191,753
Repairs and maintenance		25,528,297		320,889		263,021
Operating expenses		48,235,197		470,123		520,312
Impairment loss		-		-		-
Other expenses		2,884,680		9,439		98,655
		158,366,237		1,374,034		1,883,430
NET INCOME (LOSS)	$	(19,463,943)	$	(107,371)	$	(7,621)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(14,509,277)	$	(71,803)	$	(28,188)
Net income (loss) allocated to other partners	$	(4,954,666)	$	(35,568)	$	20,567

* Amounts include $71,803, $28,188, $209,033, $91,241, $175,016, $51,562, $600,059, $259,374, $540,340, $594,731, $378,697, $621,755, $1,317,109, $326,229, $402,243, $579,167, $567,327, $1,274,223, $403,406, $503,080, $795,406, $556,039, $896,588, $666,281, $645,418, $673,720 and $315,077 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2014 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2014 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 22		Series 23		Series 24
Revenue
Rent	$	1,919,368	$	4,026,811	$	1,185,807
Interest and other		62,291		131,358		21,856
		1,981,659		4,158,169		1,207,663
Expenses
Interest		313,777		595,453		133,847
Depreciation and amortization		444,060		998,721		354,174
Taxes and insurance		322,692		584,252		121,745
Repairs and maintenance		453,646		901,765		297,226
Operating expenses		637,044		1,486,530		498,805
Impairment loss		-		-		-
Other expenses		66,694		73,654		11,000
		2,237,913		4,640,375		1,416,797
NET INCOME (LOSS)	$	(256,254)	$	(482,206)	$	(209,134)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(209,033)	$	(91,241)	$	(175,016)
Net income (loss) allocated to other partners	$	(47,221)	$	(390,965)	$	(34,118)

* Amounts include $71,803, $28,188, $209,033, $91,241, $175,016, $51,562, $600,059, $259,374, $540,340, $594,731, $378,697, $621,755, $1,317,109, $326,229, $402,243, $579,167, $567,327, $1,274,223, $403,406, $503,080, $795,406, $556,039, $896,588, $666,281, $645,418, $673,720 and $315,077 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2014 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2014 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 25		Series 26		Series 27
Revenue
Rent	$	855,551	$	2,669,145	$	4,469,724
Interest and other		20,571		84,503		53,695
		876,122		2,753,648		4,523,419
Expenses
Interest		87,463		428,375		929,956
Depreciation and amortization		164,447		697,838		924,307
Taxes and insurance		100,077		372,572		529,607
Repairs and maintenance		173,689		815,668		815,165
Operating expenses		341,298		1,060,538		1,336,544
Impairment loss		-		-		-
Other expenses		10,814		15,500		45,967
		877,788		3,390,491		4,581,546
NET INCOME (LOSS)	$	(1,666)	$	(636,843)	$	(58,127)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(51,562)	$	(600,059)	$	(259,374)
Net income (loss) allocated to other partners	$	49,896	$	(36,784)	$	201,247

* Amounts include $71,803, $28,188, $209,033, $91,241, $175,016, $51,562, $600,059, $259,374, $540,340, $594,731, $378,697, $621,755, $1,317,109, $326,229, $402,243, $579,167, $567,327, $1,274,223, $403,406, $503,080, $795,406, $556,039, $896,588, $666,281, $645,418, $673,720 and $315,077 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2014 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2014 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 28		Series 29		Series 30
Revenue
Rent	$	3,183,563	$	2,898,160	$	3,714,407
Interest and other		71,396		197,710		72,038
		3,254,959		3,095,870		3,786,445
Expenses
Interest		463,092		817,904		372,442
Depreciation and amortization		939,289		721,976		791,658
Taxes and insurance		391,411		428,456		449,833
Repairs and maintenance		533,271		572,581		630,308
Operating expenses		1,418,059		1,156,241		2,111,960
Impairment loss		-		-		-
Other expenses		9,800		36,460		18,054
		3,754,922		3,733,618		4,374,255
NET INCOME (LOSS)	$	(499,963)	$	(637,748)	$	(587,810)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(540,340)	$	(594,731)	$	(378,697)
Net income (loss) allocated to other partners	$	40,377	$	(43,017)	$	(209,113)

* Amounts include $71,803, $28,188, $209,033, $91,241, $175,016, $51,562, $600,059, $259,374, $540,340, $594,731, $378,697, $621,755, $1,317,109, $326,229, $402,243, $579,167, $567,327, $1,274,223, $403,406, $503,080, $795,406, $556,039, $896,588, $666,281, $645,418, $673,720 and $315,077 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2014 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2014 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 31		Series 32		Series 33
Revenue
Rent	$	5,626,027	$	5,204,561	$	3,425,638
Interest and other		127,941		164,924		126,626
		5,753,968		5,369,485		3,552,264
Expenses
Interest		626,969		1,156,200		663,809
Depreciation and amortization		1,302,626		1,794,269		992,997
Taxes and insurance		858,669		660,910		397,900
Repairs and maintenance		1,087,384		873,026		508,567
Operating expenses		2,430,076		1,939,605		1,385,183
Impairment loss		-		-		-
Other expenses		24,182		312,489		140,488
		6,329,906		6,736,499		4,088,944
NET INCOME (LOSS)	$	(575,938)	$	(1,367,014)	$	(536,680)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(621,755)	$	(1,317,109)	$	(326,229)
Net income (loss) allocated to other partners	$	45,817	$	(49,905)	$	(210,451)

* Amounts include $71,803, $28,188, $209,033, $91,241, $175,016, $51,562, $600,059, $259,374, $540,340, $594,731, $378,697, $621,755, $1,317,109, $326,229, $402,243, $579,167, $567,327, $1,274,223, $403,406, $503,080, $795,406, $556,039, $896,588, $666,281, $645,418, $673,720 and $315,077 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2014 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2014 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 34		Series 35		Series 36
Revenue
Rent	$	3,177,735	$	6,331,295	$	4,831,977
Interest and other		202,682		271,268		213,639
		3,380,417		6,602,563		5,045,616
Expenses
Interest		539,486		1,367,800		938,402
Depreciation and amortization		865,727		1,873,876		1,534,818
Taxes and insurance		411,480		918,116		692,211
Repairs and maintenance		553,851		1,073,685		882,040
Operating expenses		1,331,549		2,195,830		1,810,123
Impairment loss		-		-		-
Other expenses		10,300		98,918		157,147
		3,712,393		7,528,225		6,014,741
NET INCOME (LOSS)	$	(331,976)	$	(925,662)	$	(969,125)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(402,243)	$	(579,167)	$	(567,327)
Net income (loss) allocated to other partners	$	70,267	$	(346,495)	$	(401,798)

* Amounts include $71,803, $28,188, $209,033, $91,241, $175,016, $51,562, $600,059, $259,374, $540,340, $594,731, $378,697, $621,755, $1,317,109, $326,229, $402,243, $579,167, $567,327, $1,274,223, $403,406, $503,080, $795,406, $556,039, $896,588, $666,281, $645,418, $673,720 and $315,077 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2014 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2014 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 37		Series 38		Series 39
Revenue
Rent	$	4,713,775	$	4,779,926	$	3,734,564
Interest and other		197,977		179,331		234,097
		4,911,752		4,959,257		3,968,661
Expenses
Interest		1,034,694		918,655		745,647
Depreciation and amortization		1,521,527		1,183,265		1,020,047
Taxes and insurance		805,387		572,145		462,005
Repairs and maintenance		857,626		956,683		680,957
Operating expenses		2,251,017		1,804,257		1,614,834
Impairment loss		-		-		-
Other expenses		159,590		91,774		128,784
		6,629,841		5,526,779		4,652,274
NET INCOME (LOSS)	$	(1,718,089)	$	(567,522)	$	(683,613)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(1,274,223)	$	(403,406)	$	(503,080)
Net income (loss) allocated to other partners	$	(443,866)	$	(164,116)	$	(180,533)

* Amounts include $71,803, $28,188, $209,033, $91,241, $175,016, $51,562, $600,059, $259,374, $540,340, $594,731, $378,697, $621,755, $1,317,109, $326,229, $402,243, $579,167, $567,327, $1,274,223, $403,406, $503,080, $795,406, $556,039, $896,588, $666,281, $645,418, $673,720 and $315,077 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2014 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2014 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 40		Series 41		Series 42
Revenue
Rent	$	9,878,718	$	12,178,082	$	10,209,179
Interest and other		447,725		455,280		332,895
		10,326,443		12,633,362		10,542,074
Expenses
Interest		3,028,343		3,421,146		2,332,402
Depreciation and amortization		2,582,120		2,994,036		2,679,560
Taxes and insurance		1,458,206		1,542,802		1,103,980
Repairs and maintenance		1,694,802		2,102,021		2,048,590
Operating expenses		2,771,878		3,274,025		3,265,258
Impairment loss		-		-		-
Other expenses		120,338		335,957		339,194
		11,655,687		13,669,987		11,768,984
NET INCOME (LOSS)	$	(1,329,244)	$	(1,036,625)	$	(1,226,910)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(795,406)	$	(556,039)	$	(896,588)
Net income (loss) allocated to other partners	$	(533,838)	$	(480,586)	$	(330,322)

* Amounts include $71,803, $28,188, $209,033, $91,241, $175,016, $51,562, $600,059, $259,374, $540,340, $594,731, $378,697, $621,755, $1,317,109, $326,229, $402,243, $579,167, $567,327, $1,274,223, $403,406, $503,080, $795,406, $556,039, $896,588, $666,281, $645,418, $673,720 and $315,077 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2014 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2014 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 43		Series 44		Series 45
Revenue
Rent	$	10,072,737	$	7,520,393	$	8,302,134
Interest and other		452,855		318,360		322,843
		10,525,592		7,838,753		8,624,977
Expenses
Interest		2,221,745		2,132,113		1,477,829
Depreciation and amortization		3,030,459		2,046,094		2,523,338
Taxes and insurance		1,042,600		579,704		1,002,510
Repairs and maintenance		1,973,044		1,352,833		1,991,497
Operating expenses		3,561,520		2,509,667		3,012,417
Impairment loss		-		-		-
Other expenses		148,173		85,953		214,116
		11,977,541		8,706,364		10,221,707
NET INCOME (LOSS)	$	(1,451,949)	$	(867,611)	$	(1,596,730)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(693,868)	$	(645,418)	$	(912,947)
Net income (loss) allocated to other partners	$	(758,081)	$	(222,193)	$	(683,783)

* Amounts include $71,803, $28,188, $209,033, $91,241, $175,016, $51,562, $600,059, $259,374, $540,340, $594,731, $378,697, $621,755, $1,317,109, $326,229, $402,243, $579,167, $567,327, $1,274,223, $403,406, $503,080, $795,406, $556,039, $896,588, $666,281, $645,418, $673,720 and $315,077 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2014 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2014 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 46
Revenue
Rent	$	5,814,626
Interest and other		272,058
		6,086,684
Expenses
Interest		1,266,884
Depreciation and amortization		1,529,906
Taxes and insurance		808,200
Repairs and maintenance		1,114,462
Operating expenses		2,040,504
Impairment loss		-
Other expenses		121,240
		6,881,196
NET INCOME (LOSS)	$	(794,512)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(1,014,428)
Net income (loss) allocated to other partners	$	219,916

* Amounts include $71,803, $28,188, $209,033, $91,241, $175,016, $51,562, $600,059, $259,374, $540,340, $594,731, $378,697, $621,755, $1,317,109, $326,229, $402,243, $579,167, $567,327, $1,274,223, $403,406, $503,080, $795,406, $556,039, $896,588, $666,281, $645,418, $673,720 and $315,077 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2013 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Total		Series 20		Series 21
Revenue
Rent	$	162,298,910	$	2,237,679	$	1,824,069
Interest and other		6,084,629		86,946		15,179
		168,383,539		2,324,625		1,839,248
Expenses
Interest		33,387,199		373,068		522,766
Depreciation and amortization		47,293,084		693,878		326,104
Taxes and insurance		20,872,713		273,220		179,613
Repairs and maintenance		28,630,757		596,259		253,968
Operating expenses		59,311,990		969,622		603,582
Impairment loss		-		-		-
Other expenses		4,093,159		56,738		45,815
		193,588,902		2,962,785		1,931,848
NET INCOME (LOSS)	$	(25,205,363)	$	(638,160)	$	(92,600)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(18,485,088)	$	(366,227)	$	(98,321)
Net income (loss) allocated to other partners	$	(6,720,275)	$	(271,933)	$	5,721

* Amounts include $366,227, $98,321, $264,711, $361,723, $241,279, $43,041, $842,204, $277,730, $953,311, $1,065,191, $621,294, $1,155,732, $1,433,129, $566,103, $1,227,938, $688,552, $489,323, $1,423,309, $447,771, $594,093, $726,480, $621,885, $792,226, $547,642, $372,037, $57,205 and $20,585 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2013 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 22		Series 23		Series 24
Revenue
Rent	$	2,477,250	$	4,435,882	$	1,636,612
Interest and other		73,964		163,448		30,368
		2,551,214		4,599,330		1,666,980
Expenses
Interest		496,594		795,239		245,476
Depreciation and amortization		558,497		1,158,287		503,096
Taxes and insurance		382,939		644,328		217,169
Repairs and maintenance		629,883		944,241		351,054
Operating expenses		777,142		1,743,795		640,559
Impairment loss		-		-		-
Other expenses		73,572		76,533		23,919
		2,918,627		5,362,423		1,981,273
NET INCOME (LOSS)	$	(367,413)	$	(763,093)	$	(314,293)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(264,711)	$	(361,723)	$	(241,279)
Net income (loss) allocated to other partners	$	(102,702)	$	(401,370)	$	(73,014)

* Amounts include $366,227, $98,321, $264,711, $361,723, $241,279, $43,041, $842,204, $277,730, $953,311, $1,065,191, $621,294, $1,155,732, $1,433,129, $566,103, $1,227,938, $688,552, $489,323, $1,423,309, $447,771, $594,093, $726,480, $621,885, $792,226, $547,642, $372,037, $57,205 and $20,585 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2013 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 25		Series 26		Series 27
Revenue
Rent	$	1,262,550	$	4,790,165	$	6,040,191
Interest and other		22,841		169,267		158,902
		1,285,391		4,959,432		6,199,093
Expenses
Interest		171,813		716,630		1,151,459
Depreciation and amortization		246,603		1,466,667		1,673,915
Taxes and insurance		125,928		672,261		669,786
Repairs and maintenance		238,246		1,143,771		973,244
Operating expenses		443,788		1,868,618		1,840,267
Impairment loss		-		-		-
Other expenses		20,949		123,014		195,226
		1,247,327		5,990,961		6,503,897
NET INCOME (LOSS)	$	38,064	$	(1,031,529)	$	(304,804)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(43,041)	$	(842,204)	$	(277,730)
Net income (loss) allocated to other partners	$	81,105	$	(189,325)	$	(27,074)

* Amounts include $366,227, $98,321, $264,711, $361,723, $241,279, $43,041, $842,204, $277,730, $953,311, $1,065,191, $621,294, $1,155,732, $1,433,129, $566,103, $1,227,938, $688,552, $489,323, $1,423,309, $447,771, $594,093, $726,480, $621,885, $792,226, $547,642, $372,037, $57,205 and $20,585 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2013 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 28		Series 29		Series 30
Revenue
Rent	$	7,997,536	$	6,399,091	$	5,127,821
Interest and other		191,608		279,731		170,948
		8,189,144		6,678,822		5,298,769
Expenses
Interest		994,517		1,216,242		551,540
Depreciation and amortization		2,111,756		2,078,912		1,202,369
Taxes and insurance		973,644		952,282		609,014
Repairs and maintenance		1,506,121		991,855		1,071,737
Operating expenses		2,953,257		2,645,977		2,573,560
Impairment loss		-		-		-
Other expenses		167,721		96,260		61,971
		8,707,016		7,981,528		6,070,191
NET INCOME (LOSS)	$	(517,872)	$	(1,302,706)	$	(771,422)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(953,311)	$	(1,065,191)	$	(621,294)
Net income (loss) allocated to other partners	$	435,439	$	(237,515)	$	(150,128)

* Amounts include $366,227, $98,321, $264,711, $361,723, $241,279, $43,041, $842,204, $277,730, $953,311, $1,065,191, $621,294, $1,155,732, $1,433,129, $566,103, $1,227,938, $688,552, $489,323, $1,423,309, $447,771, $594,093, $726,480, $621,885, $792,226, $547,642, $372,037, $57,205 and $20,585 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2013 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 31		Series 32		Series 33
Revenue
Rent	$	9,574,095	$	6,508,476	$	6,345,248
Interest and other		473,966		219,944		258,319
		10,048,061		6,728,420		6,603,567
Expenses
Interest		1,133,836		1,258,641		1,154,157
Depreciation and amortization		2,678,740		2,463,661		2,147,969
Taxes and insurance		1,450,339		845,962		894,942
Repairs and maintenance		1,457,335		1,009,687		731,636
Operating expenses		3,634,252		2,495,964		2,880,503
Impairment loss		-		-		-
Other expenses		647,743		481,906		166,042
		11,002,245		8,555,821		7,975,249
NET INCOME (LOSS)	$	(954,184)	$	(1,827,401)	$	(1,371,682)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(1,155,732)	$	(1,433,129)	$	(566,103)
Net income (loss) allocated to other partners	$	201,548	$	(394,272)	$	(805,579)

* Amounts include $366,227, $98,321, $264,711, $361,723, $241,279, $43,041, $842,204, $277,730, $953,311, $1,065,191, $621,294, $1,155,732, $1,433,129, $566,103, $1,227,938, $688,552, $489,323, $1,423,309, $447,771, $594,093, $726,480, $621,885, $792,226, $547,642, $372,037, $57,205 and $20,585 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2013 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 34		Series 35		Series 36
Revenue
Rent	$	7,029,164	$	6,475,964	$	4,744,459
Interest and other		280,275		198,981		125,527
		7,309,439		6,674,945		4,869,986
Expenses
Interest		1,042,365		1,402,582		958,450
Depreciation and amortization		2,602,919		2,005,105		1,518,135
Taxes and insurance		1,040,409		860,037		660,902
Repairs and maintenance		975,500		1,064,089		697,438
Operating expenses		3,358,381		2,314,187		1,835,337
Impairment loss		-		-		-
Other expenses		71,056		70,908		75,054
		9,090,630		7,716,908		5,745,316
NET INCOME (LOSS)	$	(1,781,191)	$	(1,041,963)	$	(875,330)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(1,227,938)	$	(688,552)	$	(489,323)
Net income (loss) allocated to other partners	$	(553,253)	$	(353,411)	$	(386,007)

* Amounts include $366,227, $98,321, $264,711, $361,723, $241,279, $43,041, $842,204, $277,730, $953,311, $1,065,191, $621,294, $1,155,732, $1,433,129, $566,103, $1,227,938, $688,552, $489,323, $1,423,309, $447,771, $594,093, $726,480, $621,885, $792,226, $547,642, $372,037, $57,205 and $20,585 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2013 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 37		Series 38		Series 39
Revenue
Rent	$	5,733,586	$	4,541,271	$	3,579,382
Interest and other		234,903		181,334		223,143
		5,968,489		4,722,605		3,802,525
Expenses
Interest		1,033,729		969,147		762,859
Depreciation and amortization		2,115,278		1,180,606		1,044,496
Taxes and insurance		965,919		576,518		450,988
Repairs and maintenance		924,582		792,059		616,711
Operating expenses		2,758,869		1,772,891		1,611,348
Impairment loss		-		-		-
Other expenses		138,964		107,940		144,684
		7,937,341		5,399,161		4,631,086
NET INCOME (LOSS)	$	(1,968,852)	$	(676,556)	$	(828,561)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(1,423,309)	$	(447,771)	$	(594,093)
Net income (loss) allocated to other partners	$	(545,543)	$	(228,785)	$	(234,468)

* Amounts include $366,227, $98,321, $264,711, $361,723, $241,279, $43,041, $842,204, $277,730, $953,311, $1,065,191, $621,294, $1,155,732, $1,433,129, $566,103, $1,227,938, $688,552, $489,323, $1,423,309, $447,771, $594,093, $726,480, $621,885, $792,226, $547,642, $372,037, $57,205 and $20,585 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2013 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 40		Series 41		Series 42
Revenue
Rent	$	9,759,272	$	12,055,887	$	10,535,566
Interest and other		432,340		466,528		338,914
		10,191,612		12,522,415		10,874,480
Expenses
Interest		3,077,212		3,476,503		2,513,476
Depreciation and amortization		2,580,262		2,982,256		2,809,331
Taxes and insurance		1,426,929		1,463,591		1,142,938
Repairs and maintenance		1,443,089		1,907,833		1,901,477
Operating expenses		2,649,473		2,996,818		3,268,203
Impairment loss		-		-		-
Other expenses		119,822		287,945		294,006
		11,296,787		13,114,946		11,929,431
NET INCOME (LOSS)	$	(1,105,175)	$	(592,531)	$	(1,054,951)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(726,480)	$	(621,885)	$	(894,568)
Net income (loss) allocated to other partners	$	(378,695)	$	29,354	$	(160,383)

* Amounts include $366,227, $98,321, $264,711, $361,723, $241,279, $43,041, $842,204, $277,730, $953,311, $1,065,191, $621,294, $1,155,732, $1,433,129, $566,103, $1,227,938, $688,552, $489,323, $1,423,309, $447,771, $594,093, $726,480, $621,885, $792,226, $547,642, $372,037, $57,205 and $20,585 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2013 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 43		Series 44		Series 45
Revenue
Rent	$	9,974,760	$	7,332,990	$	8,074,526
Interest and other		393,335		261,044		311,152
		10,368,095		7,594,034		8,385,678
Expenses
Interest		2,280,961		2,169,441		1,550,152
Depreciation and amortization		3,048,910		2,040,636		2,509,590
Taxes and insurance		1,004,171		552,748		1,047,218
Repairs and maintenance		1,927,314		1,391,438		1,790,623
Operating expenses		3,343,630		2,418,295		2,837,621
Impairment loss		-		-		-
Other expenses		193,811		95,028		207,293
		11,798,797		8,667,586		9,942,497
NET INCOME (LOSS)	$	(1,430,702)	$	(1,073,552)	$	(1,556,819)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(816,218)	$	(602,519)	$	(723,969)
Net income (loss) allocated to other partners	$	(614,484)	$	(471,033)	$	(832,850)

* Amounts include $366,227, $98,321, $264,711, $361,723, $241,279, $43,041, $842,204, $277,730, $953,311, $1,065,191, $621,294, $1,155,732, $1,433,129, $566,103, $1,227,938, $688,552, $489,323, $1,423,309, $447,771, $594,093, $726,480, $621,885, $792,226, $547,642, $372,037, $57,205 and $20,585 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2013 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2013 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 46
Revenue
Rent	$	5,805,418
Interest and other		321,722
		6,127,140
Expenses
Interest		1,368,344
Depreciation and amortization		1,545,106
Taxes and insurance		788,918
Repairs and maintenance		1,299,567
Operating expenses		2,076,051
Impairment loss		-
Other expenses		49,239
		7,127,225
NET INCOME (LOSS)	$	(1,000,085)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(938,467)
Net income (loss) allocated to other partners	$	(61,618)

* Amounts include $366,227, $98,321, $264,711, $361,723, $241,279, $43,041, $842,204, $277,730, $953,311, $1,065,191, $621,294, $1,155,732, $1,433,129, $566,103, $1,227,938, $688,552, $489,323, $1,423,309, $447,771, $594,093, $726,480, $621,885, $792,226, $547,642, $372,037, $57,205 and $20,585 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.