Exhibit 13

FINANCIAL STATEMENTS AND

REPORT OF INDEPENDENT REGISTERED

PUBLIC ACCOUNTING FIRM

BOSTON CAPITAL TAX CREDIT FUND IV L.P. -

SERIES 20 THROUGH SERIES 46

MARCH 31, 2015 AND 2014

Boston Capital Tax Credit Fund IV L.P. -

Series 20 through Series 46

TABLE OF CONTENTS

	PAGE
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	F-3
FINANCIAL STATEMENTS
BALANCE SHEETS	F-4
STATEMENTS OF OPERATIONS	F-32
STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)	F-60
STATEMENTS OF CASH FLOWS	F-67
NOTES TO FINANCIAL STATEMENTS	F-95

Schedules not listed are omitted because of the absence of the conditions under which they are required or the information is included in the financial statements or the notes thereto.

Report of Independent Registered Public Accounting Firm

To the Partners
Boston Capital Tax Credit Fund IV Limited Partnership

We have audited the accompanying balance sheets of Boston Capital Tax Credit Fund IV Limited Partnership - Series 20 through Series 46 (the "Partnership"), in total and for each series, as of March 31, 2015 and 2014, and the related statements of operations, changes in partners' capital (deficit) and cash flows for the total Partnership and for each series for each of the years in the two-year period ended March 31, 2015. The Partnership's management is responsible for these financial statements. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Partnership is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Partnership's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Boston Capital Tax Credit Fund IV Limited Partnership - Series 20 through Series 46, in total and for each series, as of March 31, 2015 and 2014, and the results of its operations and its cash flows for the total Partnership and for each series for each of the years in the two-year period ended March 31, 2015, in conformity with accounting principles generally accepted in the United States of America.

/s/CohnReznick LLP

COHNREZNICK LLP

Bethesda, Maryland

June 25, 2015

F-3

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS

March 31, 2015 and 2014

	Total
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	1,798,718		$	5,328,701
OTHER ASSETS
Cash and cash equivalents		23,720,352			12,797,054
Notes receivable		22,790			22,790
Deferred acquisition costs, net of accumulated amortization		-			200,376
Other assets		412,350			180,417
	$	25,954,210		$	18,529,338
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	182,339		$	160,120
Accounts payable - affiliates		52,101,042			50,042,235
Capital contributions payable		587,465			664,260
		52,870,846			50,866,615
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 83,651,080 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 83,651,080 issued and 83,569,146 and 83,626,246 outstanding at March 31, 2015 and 2014, respectively.		(19,481,250	)		(24,847,683	)
General partner		(7,435,386	)		(7,489,594	)
		(26,916,636	)		(32,337,277	)
	$	25,954,210		$	18,529,338

(continued)

F-4

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 20
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		310,195			204,785
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	310,195		$	204,785
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		1,504,687			1,488,111
Capital contributions payable		-			-
		1,504,687			1,488,111
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,866,700 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,866,700 issued and 3,857,700 and 3,864,700 outstanding at March 31, 2015 and 2014, respectively.		(874,295	)		(962,241	)
General partner		(320,197	)		(321,085	)
		(1,194,492	)		(1,283,326	)
	$	310,195		$	204,785

(continued)

F-5

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 21
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		127,394			116,749
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		3,000			3,000
	$	130,394		$	119,749
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	5,000		$	5,000
Accounts payable - affiliates		1,440,389			1,383,089
Capital contributions payable		-			-
		1,445,389			1,388,089
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 1,892,700 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 1,892,700 issued and 1,888,200 and 1,888,200 outstanding at March 31, 2015 and 2014, respectively.		(1,139,894	)		(1,093,706	)
General partner		(175,101	)		(174,634	)
		(1,314,995	)		(1,268,340	)
	$	130,394		$	119,749

(continued)

F-6

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 22
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		117,048			98,564
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	117,048		$	98,564
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		2,809,752			2,892,033
Capital contributions payable		9,352			9,352
		2,819,104			2,901,385
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,564,400 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,564,400 issued and 2,560,800 and 2,561,400 outstanding at March 31, 2015 and 2014, respectively.		(2,455,952	)		(2,555,709	)
General partner		(246,104	)		(247,112	)
		(2,702,056	)		(2,802,821	)
	$	117,048		$	98,564

(continued)

F-7

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 23
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		205,359			118,542
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	205,359		$	118,542
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		2,206,713			2,549,950
Capital contributions payable		-			-
		2,206,713			2,549,950
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,336,727 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,336,727 issued and 3,333,227 and 3,336,227 outstanding at March 31, 2015 and 2014, respectively.		(1,696,494	)		(2,122,247	)
General partner		(304,860	)		(309,161	)
		(2,001,354	)		(2,431,408	)
	$	205,359		$	118,542

(continued)

F-8

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 24
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		1,005,871			890,715
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		80,040			-
	$	1,085,911		$	890,715
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	6,335		$	3,000
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		6,335			3,000
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,169,878 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,169,878 issued and 2,162,378 and 2,168,878 outstanding at March 31, 2015 and 2014, respectively.		1,254,077			1,064,135
General partner		(174,501	)		(176,420	)
		1,079,576			887,715
	$	1,085,911		$	890,715

(continued)

F-9

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 25
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		3,811,919			2,550,061
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		1,250			1,250
	$	3,813,169		$	2,551,311
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		-			-
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,026,109 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,026,109 issued and 3,024,509 and 3,025,609 outstanding at March 31, 2015 and 2014, respectively.		4,032,481			2,783,242
General partner		(219,312	)		(231,931	)
		3,813,169			2,551,311
	$	3,813,169		$	2,551,311

(continued)

F-10

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 26
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		3,013,320			2,510,330
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		69,000			-
	$	3,082,320		$	2,510,330
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	20,467		$	4,960
Accounts payable - affiliates		-			-
Capital contributions payable		-			1,293
		20,467			6,253
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,995,900 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,995,900 issued and 3,990,700 and 3,995,200 outstanding at March 31, 2015 and 2014 , respectively.		3,371,487			2,819,289
General partner		(309,634	)		(315,212	)
		3,061,853			2,504,077
	$	3,082,320		$	2,510,330

(continued)

F-11

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 27
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		1,051,663			1,049,687
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			6,500
	$	1,051,663		$	1,056,187
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		-			44,238
Capital contributions payable		-			10,020
		-			54,258
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,460,700 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,460,700 issued and 2,459,700 and 2,460,700 outstanding at March 31, 2015 and 2014 , respectively.		1,247,594			1,198,357
General partner		(195,931	)		(196,428	)
		1,051,663			1,001,929
	$	1,051,663		$	1,056,187

(continued)

F-12

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 28
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		5,774,634			515,862
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		1,250			2,817
	$	5,775,884		$	518,679
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	3,000		$	7,500
Accounts payable - affiliates		-			706,182
Capital contributions payable		-			40,968
		3,000			754,650
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,000,738 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,000,738 issued and 3,998,738 and 3,999,738 outstanding at March 31, 2015 and 2014, respectively.		6,058,903			110,137
General partner		(286,019	)		(346,108	)
		5,772,884			(235,971	)
	$	5,775,884		$	518,679

(continued)

F-13

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 29
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		501,274			224,155
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	501,274		$	224,155
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	1,500		$	-
Accounts payable - affiliates		3,814,638			3,583,859
Capital contributions payable		8,235			8,235
		3,824,373			3,592,094
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,991,800 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,991,800 issued and 3,989,500 and 3,991,300 outstanding at March 31, 2015 and 2014, respectively.		(2,951,221	)		(2,995,613	)
General partner		(371,878	)		(372,326	)
		(3,323,099	)		(3,367,939	)
	$	501,274		$	224,155

(continued)

F-14

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 30
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		322,775			253,948
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		51,500			500
	$	374,275		$	254,448
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		1,833,832			1,690,813
Capital contributions payable		105,139			127,396
		1,938,971			1,818,209
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,651,000 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,651,000 issued and 2,643,000 and 2,651,000 outstanding at March 31, 2015 and 2014, respectively.		(1,321,993	)		(1,321,067	)
General partner		(242,703	)		(242,694	)
		(1,564,696	)		(1,563,761	)
	$	374,275		$	254,448

(continued)

F-15

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 31
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		3,106,480			852,580
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		25,000			25,000
	$	3,131,480		$	877,580
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	2,257
Accounts payable - affiliates		2,902,513			3,212,781
Capital contributions payable		66,294			66,294
		2,968,807			3,281,332
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,417,857 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,417,857 issued and 4,409,757 and 4,415,757 outstanding at March 31, 2015 and 2014, respectively.		540,305			(2,000,456	)
General partner		(377,632	)		(403,296	)
		162,673			(2,403,752	)
	$	3,131,480		$	877,580

(continued)

F-16

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 32
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		354,807			310,949
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	354,807		$	310,949
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	993		$	-
Accounts payable - affiliates		3,280,553			3,085,965
Capital contributions payable		1,229			3,486
		3,282,775			3,089,451
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,754,198 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,754,198 issued and 4,748,198 and 4,751,198 outstanding at March 31, 2015 and 2014, respectively.		(2,492,325	)		(2,344,354	)
General partner		(435,643	)		(434,148	)
		(2,927,968	)		(2,778,502	)
	$	354,807		$	310,949

(continued)

F-17

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 33
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		281,704			194,920
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	281,704		$	194,920
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	4,053		$	3,403
Accounts payable - affiliates		2,060,048			1,941,386
Capital contributions payable		69,154			69,154
		2,133,255			2,013,943
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,636,533 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,636,533 issued and 2,635,533 outstanding at March 31, 2015 and 2014.		(1,607,256	)		(1,575,053	)
General partner		(244,295	)		(243,970	)
		(1,851,551	)		(1,819,023	)
	$	281,704		$	194,920

(continued)

F-18

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 34
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		838,027			299,036
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	838,027		$	299,036
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	5,802		$	3,000
Accounts payable - affiliates		4,077,757			3,900,829
Capital contributions payable		-			-
		4,083,559			3,903,829
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,529,319 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,529,319 issued and 3,523,219 and 3,528,319 outstanding at March 31, 2015 and 2014, respectively.		(2,912,687	)		(3,268,355	)
General partner		(332,845	)		(336,438	)
		(3,245,532	)		(3,604,793	)
	$	838,027		$	299,036

(continued)

F-19

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 35
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		231,626			278,190
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	231,626		$	278,190
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	1,500		$	-
Accounts payable - affiliates		2,405,390			2,257,174
Capital contributions payable		-			-
		2,406,890			2,257,174
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,300,463 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,300,463 issued and 3,295,763 and 3,298,763 outstanding at March 31, 2015 and 2014, respectively.		(1,871,486	)		(1,677,169	)
General partner		(303,778	)		(301,815	)
		(2,175,264	)		(1,978,984	)
	$	231,626		$	278,190

(continued)

F-20

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 36
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		430,583			448,179
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	430,583		$	448,179
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	131,000		$	131,000
Accounts payable - affiliates		1,190,777			1,108,351
Capital contributions payable		-			-
		1,321,777			1,239,351
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,106,838 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,106,838 issued and 2,102,504 and 2,104,504 outstanding at March 31, 2015 and 2014, respectively.		(703,619	)		(604,597	)
General partner		(187,575	)		(186,575	)
		(891,194	)		(791,172	)
	$	430,583		$	448,179

(continued)

F-21

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 37
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		345,467			305,167
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	345,467		$	305,167
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	1,024		$	-
Accounts payable - affiliates		2,344,087			2,147,147
Capital contributions payable		138,438			138,438
		2,483,549			2,285,585
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,512,500 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,512,500 at March 31, 2015 and 2014 issued and outstanding		(1,901,137	)		(1,745,050	)
General partner		(236,945	)		(235,368	)
		(2,138,082	)		(1,980,418	)
	$	345,467		$	305,167

(continued)

F-22

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 38
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		280,864			236,887
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	280,864		$	236,887
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		1,881,232			1,716,832
Capital contributions payable		-			-
		1,881,232			1,716,832
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,543,100 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,543,100 at March 31, 2015 and 2014 issued and outstanding		(1,366,080	)		(1,246,861	)
General partner		(234,288	)		(233,084	)
		(1,600,368	)		(1,479,945	)
	$	280,864		$	236,887

(continued)

F-23

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 39
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		166,118			144,094
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	166,118		$	144,094
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		1,681,984			1,547,899
Capital contributions payable		-			-
		1,681,984			1,547,899
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,292,151 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,292,151 issued and 2,291,151 and 2,292,151 outstanding at March 31, 2015 and 2014, respectively.		(1,304,265	)		(1,193,325	)
General partner		(211,601	)		(210,480	)
		(1,515,866	)		(1,403,805	)
	$	166,118		$	144,094

(continued)

F-24

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 40
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		97,731			96,711
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	97,731		$	96,711
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		3,039,139			2,828,348
Capital contributions payable		102			102
		3,039,241			2,828,450
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,630,256 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,630,256 issued and 2,628,756 and 2,630,256 outstanding at March 31, 2015 and 2014, respectively.		(2,687,151	)		(2,479,478	)
General partner		(254,359	)		(252,261	)
		(2,941,510	)		(2,731,739	)
	$	97,731		$	96,711

(continued)

F-25

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 41
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		158,957			167,428
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		1,218			1,218
	$	160,175		$	168,646
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		3,292,504			3,054,940
Capital contributions payable		100			100
		3,292,604			3,055,040
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,891,626 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,891,626 at March 31, 2015 and 2014 issued and outstanding		(2,851,936	)		(2,608,361	)
General partner		(280,493	)		(278,033	)
		(3,132,429	)		(2,886,394	)
	$	160,175		$	168,646

(continued)

F-26

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 42
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		420,023			266,762
Notes receivable		22,790			22,790
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		90,963			51,003
	$	533,776		$	340,555
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	1,665		$	-
Accounts payable - affiliates		2,319,763			2,071,473
Capital contributions payable		73,433			73,433
		2,394,861			2,144,906
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,744,262 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,744,262 at March 31, 2015 and 2014 issued and outstanding		(1,601,536	)		(1,545,369	)
General partner		(259,549	)		(258,982	)
		(1,861,085	)		(1,804,351	)
	$	533,776		$	340,555

(continued)

F-27

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 43
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	178,330
OTHER ASSETS
Cash and cash equivalents		354,147			303,384
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			200,376
Other assets		85,341			85,341
	$	439,488		$	767,431
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		2,855,008			2,548,228
Capital contributions payable		99,265			99,265
		2,954,273			2,647,493
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,637,987 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,637,987 at March 31, 2015 and 2014 issued and outstanding		(2,168,116	)		(1,539,740	)
General partner		(346,669	)		(340,322	)
		(2,514,785	)		(1,880,062	)
	$	439,488		$	767,431

(continued)

F-28

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 44
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		9,744			38,362
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	9,744		$	38,362
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		1,973,504			1,642,751
Capital contributions payable		-			-
		1,973,504			1,642,751
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,701,973 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,701,973 at March 31, 2015 and 2014 issued and outstanding		(1,706,674	)		(1,350,897	)
General partner		(257,086	)		(253,492	)
		(1,963,760	)		(1,604,389	)
	$	9,744		$	38,362

(continued)

F-29

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 45
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	838,105		$	2,004,492
OTHER ASSETS
Cash and cash equivalents		147,398			126,153
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		-			-
	$	985,503		$	2,130,645
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		1,760,413			1,463,025
Capital contributions payable		16,724			16,724
		1,777,137			1,479,749
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,014,367 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,014,367 at March 31, 2015 and 2014 issued and outstanding		(430,056	)		998,049
General partner		(361,578	)		(347,153	)
		(791,634	)		650,896
	$	985,503		$	2,130,645

(continued)

F-30

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2015 and 2014

	Series 46
	2015			2014
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	960,613		$	3,145,879
OTHER ASSETS
Cash and cash equivalents		255,224			194,854
Notes receivable		-			-
Deferred acquisition costs, net of accumulated amortization		-			-
Other assets		3,788			3,788
	$	1,219,625		$	3,344,521
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable and accrued expenses	$	-		$	-
Accounts payable - affiliates		1,426,359			1,176,831
Capital contributions payable		-			-
		1,426,359			1,176,831
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,980,998 issued to the assignees at March 31, 2015 and 2014		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,980,998 issued and 2,979,998 and 2,980,998 outstanding at March 31, 2015 and 2014, respectively.		58,076			2,408,756
General partner		(264,810	)		(241,066	)
		(206,734	)		2,167,690
	$	1,219,625		$	3,344,521

(see notes to financial statements)

F-31

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS

Years ended March 31, 2015 and 2014

	Total
	2015		2014
Income
Interest income	$	45,767	$	47,997
Miscellaneous		629,169		923,483
		674,936		971,480
Share of income (losses) from operating limited partnerships *		11,837,639		7,643,945
Expenses and loss
Fund management fee		3,348,748		4,069,465
Amortization		66,792		446,669
General and administrative expenses		456,119		644,311
Professional fees		626,646		649,668
Impairment loss		2,593,629		7,116,275
		7,091,934		12,926,388
NET INCOME (LOSS)	$	5,420,641	$	(4,310,963	)
Net income (loss) allocated to general partner	$	54,208	$	(43,109	)
Net income (loss) allocated to limited partners	$	5,366,433	$	(4,267,854	)
Net income (loss) per BAC	$	0.06	$	(0.05	)

* Includes $12,941,795 and $9,882,625, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued)

F-32

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 20
	2015			2014
Income
Interest income	$	492		$	701
Miscellaneous		64			689
		556			1,390
Share of income (losses) from operating limited partnerships *		70,580			722,000
Expenses and loss
Fund management fee		(56,541	)		77,349
Amortization		-			-
General and administrative expenses		19,121			21,816
Professional fees		19,722			17,834
Impairment loss		-			-
		(17,698	)		116,999
NET INCOME (LOSS)	$	88,834		$	606,391
Net income (loss) allocated to general partner	$	888		$	6,064
Net income (loss) allocated to limited partners	$	87,946		$	600,327
Net income (loss) per BAC	$	0.02		$	0.16

* Includes $70,580 and $722,000, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued)

F-33

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 21
	2015			2014
Income
Interest income	$	330		$	326
Miscellaneous		859			7,372
		1,189			7,698
Share of income (losses) from operating limited partnerships *		-			79,000
Expenses and loss
Fund management fee		20,249			55,254
Amortization		-			-
General and administrative expenses		13,238			14,201
Professional fees		14,357			14,174
Impairment loss		-			-
		47,844			83,629
NET INCOME (LOSS)	$	(46,655	)	$	3,069
Net income (loss) allocated to general partner	$	(467	)	$	31
Net income (loss) allocated to limited partners	$	(46,188	)	$	3,038
Net income (loss) per BAC	$	(0.02	)	$	-

* Includes $- and $79,000, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued)

F-34

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 22
	2015		2014
Income
Interest income	$	143	$	309
Miscellaneous		284		5,683
		427		5,992
Share of income (losses) from operating limited partnerships *		166,896		-
Expenses and loss
Fund management fee		32,524		59,070
Amortization		-		-
General and administrative expenses		15,740		17,461
Professional fees		18,294		27,939
Impairment loss		-		-
		66,558		104,470
NET INCOME (LOSS)	$	100,765	$	(98,478	)
Net income (loss) allocated to general partner	$	1,008	$	(985	)
Net income (loss) allocated to limited partners	$	99,757	$	(97,493	)
Net income (loss) per BAC	$	0.04	$	(0.04	)

* Includes $166,896 and $-, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-35

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 23
	2015			2014
Income
Interest income	$	194		$	265
Miscellaneous		7,590			-
		7,784			265
Share of income (losses) from operating limited partnerships *		426,346			-
Expenses and loss
Fund management fee		(32,141	)		84,219
Amortization		-			-
General and administrative expenses		18,345			20,445
Professional fees		17,872			21,064
Impairment loss		-			-
		4,076			125,728
NET INCOME (LOSS)	$	430,054		$	(125,463	)
Net income (loss) allocated to general partner	$	4,301		$	(1,255	)
Net income (loss) allocated to limited partners	$	425,753		$	(124,208	)
Net income (loss) per BAC	$	0.13		$	(0.04	)

* Includes $426,346 and $-, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-36

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 24
	2015			2014
Income
Interest income	$	2,514		$	1,625
Miscellaneous		3,890			14,568
		6,404			16,193
Share of income (losses) from operating limited partnerships *		207,327			1,630,062
Expenses and loss
Fund management fee		(19,728	)		(19,566	)
Amortization		-			-
General and administrative expenses		15,838			16,697
Professional fees		25,760			23,429
Impairment loss		-			-
		21,870			20,560
NET INCOME (LOSS)	$	191,861		$	1,625,695
Net income (loss) allocated to general partner	$	1,919		$	16,257
Net income (loss) allocated to limited partners	$	189,942		$	1,609,438
Net income (loss) per BAC	$	0.09		$	0.74

* Includes $207,327 and $1,630,062, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-37

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 25
	2015		2014
Income
Interest income	$	10,568	$	5,136
Miscellaneous		10,178		13,092
		20,746		18,228
Share of income (losses) from operating limited partnerships *		1,295,124		-
Expenses and loss
Fund management fee		19,401		37,896
Amortization		-		-
General and administrative expenses		17,700		19,704
Professional fees		16,911		20,307
Impairment loss		-		-
		54,012		77,907
NET INCOME (LOSS)	$	1,261,858	$	(59,679	)
Net income (loss) allocated to general partner	$	12,619	$	(597	)
Net income (loss) allocated to limited partners	$	1,249,239	$	(59,082	)
Net income (loss) per BAC	$	0.41	$	(0.02	)

* Includes $1,295,124 and $-, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-38

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 26
	2015		2014
Income
Interest income	$	5,148	$	2,062
Miscellaneous		4,649		19,909
		9,797		21,971
Share of income (losses) from operating limited partnerships *		647,125		2,801,657
Expenses and loss
Fund management fee		41,257		20,694
Amortization		-		-
General and administrative expenses		22,307		25,174
Professional fees		35,582		40,997
Impairment loss		-		-
		99,146		86,865
NET INCOME (LOSS)	$	557,776	$	2,736,763
Net income (loss) allocated to general partner	$	5,578	$	27,368
Net income (loss) allocated to limited partners	$	552,198	$	2,709,395
Net income (loss) per BAC	$	0.14	$	0.68

* Includes $647,125 and $2,801,657, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-39

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 27
	2015		2014
Income
Interest income	$	3,558	$	1,996
Miscellaneous		8,514		49,915
		12,072		51,911
Share of income (losses) from operating limited partnerships *		237,896		2,508,394
Expenses and loss
Fund management fee		140,938		126,621
Amortization		-		-
General and administrative expenses		16,136		17,208
Professional fees		43,160		30,802
Impairment loss		-		-
		200,234		174,631
NET INCOME (LOSS)	$	49,734	$	2,385,674
Net income (loss) allocated to general partner	$	497	$	23,857
Net income (loss) allocated to limited partners	$	49,237	$	2,361,817
Net income (loss) per BAC	$	0.02	$	0.96

* Includes $237,896 and $2,508,394, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-40

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 28
	2015		2014
Income
Interest income	$	14,044	$	1,648
Miscellaneous		264,302		256,704
		278,346		258,352
Share of income (losses) from operating limited partnerships *		5,854,818		939,495
Expenses and loss
Fund management fee		79,376		156,842
Amortization		-		-
General and administrative expenses		19,324		21,422
Professional fees		25,609		27,279
Impairment loss		-		-
		124,309		205,543
NET INCOME (LOSS)	$	6,008,855	$	992,304
Net income (loss) allocated to general partner	$	60,089	$	9,923
Net income (loss) allocated to limited partners	$	5,948,766	$	982,381
Net income (loss) per BAC	$	1.49	$	0.25

* Includes $5,854,818 and $939,495, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-41

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 29
	2015		2014
Income
Interest income	$	704	$	386
Miscellaneous		1,700		18,977
		2,404		19,363
Share of income (losses) from operating limited partnerships *		278,493		344,656
Expenses and loss
Fund management fee		183,052		247,888
Amortization		-		-
General and administrative expenses		20,216		21,831
Professional fees		32,789		26,121
Impairment loss		-		-
		236,057		295,840
NET INCOME (LOSS)	$	44,840	$	68,179
Net income (loss) allocated to general partner	$	448	$	682
Net income (loss) allocated to limited partners	$	44,392	$	67,497
Net income (loss) per BAC	$	0.01	$	0.02

* Includes $278,493 and $344,656, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-42

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 30
	2015			2014
Income
Interest income	$	677		$	682
Miscellaneous		1,522			2,052
		2,199			2,734
Share of income (losses) from operating limited partnerships *		94,887			-
Expenses and loss
Fund management fee		61,708			135,287
Amortization		-			-
General and administrative expenses		15,913			16,985
Professional fees		20,400			21,420
Impairment loss		-			-
		98,021			173,692
NET INCOME (LOSS)	$	(935	)	$	(170,958	)
Net income (loss) allocated to general partner	$	(9	)	$	(1,710	)
Net income (loss) allocated to limited partners	$	(926	)	$	(169,248	)
Net income (loss) per BAC	$	-		$	(0.06	)

* Includes $94,887 and $-, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-43

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 31
	2015		2014
Income
Interest income	$	1,279	$	750
Miscellaneous		928		28,143
		2,207		28,893
Share of income (losses) from operating limited partnerships *		2,840,263		624,556
Expenses and loss
Fund management fee		227,575		266,630
Amortization		-		-
General and administrative expenses		20,366		22,383
Professional fees		28,104		27,309
Impairment loss		-		-
		276,045		316,322
NET INCOME (LOSS)	$	2,566,425	$	337,127
Net income (loss) allocated to general partner	$	25,664	$	3,371
Net income (loss) allocated to limited partners	$	2,540,761	$	333,756
Net income (loss) per BAC	$	0.58	$	0.08

* Includes $2,840,263 and $624,556, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-44

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 32
	2015			2014
Income
Interest income	$	421		$	26,586
Miscellaneous		16,778			25,439
		17,199			52,025
Share of income (losses) from operating limited partnerships *		107,673			3,428
Expenses and loss
Fund management fee		233,246			210,694
Amortization		-			-
General and administrative expenses		20,109			22,092
Professional fees		20,983			19,444
Impairment loss		-			-
		274,338			252,230
NET INCOME (LOSS)	$	(149,466	)	$	(196,777	)
Net income (loss) allocated to general partner	$	(1,495	)	$	(1,968	)
Net income (loss) allocated to limited partners	$	(147,971	)	$	(194,809	)
Net income (loss) per BAC	$	(0.03	)	$	(0.04	)

* Includes $107,673 and $3,428, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-45

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 33
	2015			2014
Income
Interest income	$	529		$	572
Miscellaneous		2,777			6,686
		3,306			7,258
Share of income (losses) from operating limited partnerships *		53,079			-
Expenses and loss
Fund management fee		59,029			107,019
Amortization		-			-
General and administrative expenses		14,437			15,298
Professional fees		15,447			15,029
Impairment loss		-			-
		88,913			137,346
NET INCOME (LOSS)	$	(32,528	)	$	(130,088	)
Net income (loss) allocated to general partner	$	(325	)	$	(1,301	)
Net income (loss) allocated to limited partners	$	(32,203	)	$	(128,787	)
Net income (loss) per BAC	$	(0.01	)	$	(0.05	)

* Includes $53,079 and $-, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-46

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 34
	2015		2014
Income
Interest income	$	493	$	80
Miscellaneous		18,332		65,338
		18,825		65,418
Share of income (losses) from operating limited partnerships *		502,727		176,333
Expenses and loss
Fund management fee		126,065		239,275
Amortization		-		-
General and administrative expenses		17,187		18,159
Professional fees		19,039		21,424
Impairment loss		-		-
		162,291		278,858
NET INCOME (LOSS)	$	359,261	$	(37,107	)
Net income (loss) allocated to general partner	$	3,593	$	(371	)
Net income (loss) allocated to limited partners	$	355,668	$	(36,736	)
Net income (loss) per BAC	$	0.10	$	(0.01	)

* Includes $502,727 and $176,333, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-47

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 35
	2015			2014
Income
Interest income	$	339		$	300
Miscellaneous		10,324			158,019
		10,663			158,319
Share of income (losses) from operating limited partnerships		-			-
Expenses and loss
Fund management fee		173,231			149,479
Amortization		-			-
General and administrative expenses		16,748			17,520
Professional fees		16,964			16,994
Impairment loss		-			-
		206,943			183,993
NET INCOME (LOSS)	$	(196,280	)	$	(25,674	)
Net income (loss) allocated to general partner	$	(1,963	)	$	(257	)
Net income (loss) allocated to limited partners	$	(194,317	)	$	(25,417	)
Net income (loss) per BAC	$	(0.06	)	$	(0.01	)

(continued)

F-48

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 36
	2015			2014
Income
Interest income	$	1,117		$	957
Miscellaneous		21,885			23,083
		23,002			24,040
Share of income (losses) from operating limited partnerships *		25,054			-
Expenses and loss
Fund management fee		118,401			113,457
Amortization		-			-
General and administrative expenses		13,554			14,409
Professional fees		16,123			17,691
Impairment loss		-			-
		148,078			145,557
NET INCOME (LOSS)	$	(100,022	)	$	(121,517	)
Net income (loss) allocated to general partner	$	(1,000	)	$	(1,215	)
Net income (loss) allocated to limited partners	$	(99,022	)	$	(120,302	)
Net income (loss) per BAC	$	(0.05	)	$	(0.06	)

* Includes $25,054 and $-, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-49

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 37
	2015			2014
Income
Interest income	$	657		$	699
Miscellaneous		24,632			24,920
		25,289			25,619
Share of income (losses) from operating limited partnerships		-			-
Expenses and loss
Fund management fee		153,440			184,475
Amortization		-			-
General and administrative expenses		13,828			14,603
Professional fees		15,685			14,024
Impairment loss		-			-
		182,953			213,102
NET INCOME (LOSS)	$	(157,664	)	$	(187,483	)
Net income (loss) allocated to general partner	$	(1,577	)	$	(1,875	)
Net income (loss) allocated to limited partners	$	(156,087	)	$	(185,608	)
Net income (loss) per BAC	$	(0.06	)	$	(0.07	)

(continued)

F-50

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 38
	2015			2014
Income
Interest income	$	291		$	274
Miscellaneous		55,454			69,621
		55,745			69,895
Share of income (losses) from operating limited partnerships		-			-
Expenses and loss
Fund management fee		145,085			141,801
Amortization		-			-
General and administrative expenses		14,457			15,289
Professional fees		16,626			15,839
Impairment loss		-			-
		176,168			172,929
NET INCOME (LOSS)	$	(120,423	)	$	(103,034	)
Net income (loss) allocated to general partner	$	(1,204	)	$	(1,030	)
Net income (loss) allocated to limited partners	$	(119,219	)	$	(102,004	)
Net income (loss) per BAC	$	(0.05	)	$	(0.04	)

(continued)

F-51

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 39
	2015			2014
Income
Interest income	$	316		$	302
Miscellaneous		11,975			12,956
		12,291			13,258
Share of income (losses) from operating limited partnerships *		29,999			-
Expenses and loss
Fund management fee		125,063			119,052
Amortization		-			-
General and administrative expenses		13,397			14,318
Professional fees		15,891			15,484
Impairment loss		-			-
		154,351			148,854
NET INCOME (LOSS)	$	(112,061	)	$	(135,596	)
Net income (loss) allocated to general partner	$	(1,121	)	$	(1,356	)
Net income (loss) allocated to limited partners	$	(110,940	)	$	(134,240	)
Net income (loss) per BAC	$	(0.05	)	$	(0.06	)

* Includes $29,999 and $-, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued) 

F-52

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 40
	2015			2014
Income
Interest income	$	78		$	79
Miscellaneous		10,726			8,278
		10,804			8,357
Share of income (losses) from operating limited partnerships		-			-
Expenses and loss
Fund management fee		185,409			178,426
Amortization		-			-
General and administrative expenses		14,930			15,797
Professional fees		20,236			22,069
Impairment loss		-			-
		220,575			216,292
NET INCOME (LOSS)	$	(209,771	)	$	(207,935	)
Net income (loss) allocated to general partner	$	(2,098	)	$	(2,079	)
Net income (loss) allocated to limited partners	$	(207,673	)	$	(205,856	)
Net income (loss) per BAC	$	(0.08	)	$	(0.08	)

(continued)

F-53

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 41
	2015			2014
Income
Interest income	$	459		$	437
Miscellaneous		14,436			31,030
		14,895			31,467
Share of income (losses) from operating limited partnerships *		-			52,000
Expenses and loss
Fund management fee		219,433			199,676
Amortization		-			-
General and administrative expenses		16,613			19,120
Professional fees		24,884			30,074
Impairment loss		-			-
		260,930			248,870
NET INCOME (LOSS)	$	(246,035	)	$	(165,403	)
Net income (loss) allocated to general partner	$	(2,460	)	$	(1,654	)
Net income (loss) allocated to limited partners	$	(243,575	)	$	(163,749	)
Net income (loss) per BAC	$	(0.08	)	$	(0.06	)

* Includes $- and $52,000, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued)

F-54

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 42
	2015			2014
Income
Interest income	$	373		$	392
Miscellaneous		50,424			40,591
		50,797			40,983
Share of income (losses) from operating limited partnerships *		103,508			(102,342	)
Expenses and loss
Fund management fee		163,766			185,435
Amortization		-			69,160
General and administrative expenses		16,143			20,602
Professional fees		31,130			29,111
Impairment loss		-			212,553
		211,039			516,861
NET INCOME (LOSS)	$	(56,734	)	$	(578,220	)
Net income (loss) allocated to general partner	$	(567	)	$	(5,782	)
Net income (loss) allocated to limited partners	$	(56,167	)	$	(572,438	)
Net income (loss) per BAC	$	(0.02	)	$	(0.21	)

* Includes $103,508 and $-, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued)

F-55

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 43
	2015			2014
Income
Interest income	$	427		$	479
Miscellaneous		62,080			35,722
		62,507			36,201
Share of income (losses) from operating limited partnerships		(47,235	)		(280,816	)
Expenses and loss
Fund management fee		268,035			246,428
Amortization		66,792			66,792
General and administrative expenses		18,606			21,458
Professional fees		28,375			30,652
Impairment loss		268,187			972,475
		649,995			1,337,805
NET INCOME (LOSS)	$	(634,723	)	$	(1,582,420	)
Net income (loss) allocated to general partner	$	(6,347	)	$	(15,824	)
Net income (loss) allocated to limited partners	$	(628,376	)	$	(1,566,596	)
Net income (loss) per BAC	$	(0.17	)	$	(0.43	)

(continued)

F-56

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 44
	2015			2014
Income
Interest income	$	16		$	227
Miscellaneous		584			4,696
		600			4,923
Share of income (losses) from operating limited partnerships		(118,343	)		(270,876	)
Expenses and loss
Fund management fee		206,520			224,950
Amortization		-			282,800
General and administrative expenses		14,832			21,675
Professional fees		20,276			37,930
Impairment loss		-			1,696,224
		241,628			2,263,579
NET INCOME (LOSS)	$	(359,371	)	$	(2,529,532	)
Net income (loss) allocated to general partner	$	(3,594	)	$	(25,295	)
Net income (loss) allocated to limited partners	$	(355,777	)	$	(2,504,237	)
Net income (loss) per BAC	$	(0.13	)	$	(0.93	)

(continued)

F-57

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 45
	2015			2014
Income
Interest income	$	104		$	277
Miscellaneous		24,282			-
		24,386			277
Share of income (losses) from operating limited partnerships *		(239,227	)		(665,720	)
Expenses and loss
Fund management fee		247,550			308,117
Amortization		-			17,816
General and administrative expenses		20,371			159,624
Professional fees		40,950			40,844
Impairment loss		918,818			2,293,749
		1,227,689			2,820,150
NET INCOME (LOSS)	$	(1,442,530	)	$	(3,485,593	)
Net income (loss) allocated to general partner	$	(14,425	)	$	(34,856	)
Net income (loss) allocated to limited partners	$	(1,428,105	)	$	(3,450,737	)
Net income (loss) per BAC	$	(0.36	)	$	(0.86	)

* Includes $- and $1,044, respectively, in 2015 and 2014 from gain on disposal of operating limited partnership.

(continued)

F-58

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 46
	2015			2014
Income
Interest income	$	496		$	450
Miscellaneous		-			-
		496			450
Share of income (losses) from operating limited partnerships		(699,351	)		(917,882	)
Expenses and loss
Fund management fee		226,805			212,997
Amortization		-			10,101
General and administrative expenses		16,663			19,020
Professional fees		25,477			24,384
Impairment loss		1,406,624			1,941,274
		1,675,569			2,207,776
NET INCOME (LOSS)	$	(2,374,424	)	$	(3,125,208	)
Net income (loss) allocated to general partner	$	(23,744	)	$	(31,252	)
Net income (loss) allocated to limited partners	$	(2,350,680	)	$	(3,093,956	)
Net income (loss) per BAC	$	(0.79	)	$	(1.04	)

(see notes to financial statements)

F-59

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Years ended March 31, 2015 and 2014

Total	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(20,579,829	)	$	(7,446,485	)	$	(28,026,314	)
Net income (loss)		(4,267,854	)		(43,109	)		(4,310,963	)
Partners’ capital (deficit), March 31, 2014		(24,847,683	)		(7,489,594	)		(32,337,277	)
Net income (loss)		5,366,433			54,208			5,420,641
Partners’ capital (deficit), March 31, 2015	$	(19,481,250	)	$	(7,435,386	)	$	(26,916,636	)

Series 20	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(1,562,568	)	$	(327,149	)	$	(1,889,717	)
Net income (loss)		600,327			6,064			606,391
Partners’ capital (deficit), March 31, 2014		(962,241	)		(321,085	)		(1,283,326	)
Net income (loss)		87,946			888			88,834
Partners’ capital (deficit), March 31, 2015	$	(874,295	)	$	(320,197	)	$	(1,194,492	)

Series 21	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(1,096,744	)	$	(174,665	)	$	(1,271,409	)
Net income (loss)		3,038			31			3,069
Partners’ capital (deficit), March 31, 2014		(1,093,706	)		(174,634	)		(1,268,340	)
Net income (loss)		(46,188	)		(467	)		(46,655	)
Partners’ capital (deficit), March 31, 2015	$	(1,139,894	)	$	(175,101	)	$	(1,314,995	)

Series 22	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(2,458,216	)	$	(246,127	)	$	(2,704,343	)
Net income (loss)		(97,493	)		(985	)		(98,478	)
Partners’ capital (deficit), March 31, 2014		(2,555,709	)		(247,112	)		(2,802,821	)
Net income (loss)		99,757			1,008			100,765
Partners’ capital (deficit), March 31, 2015	$	(2,455,952	)	$	(246,104	)	$	(2,702,056	)

(continued)

F-60

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2015 and 2014

Series 23	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(1,998,039	)	$	(307,906	)	$	(2,305,945	)
Net income (loss)		(124,208	)		(1,255	)		(125,463	)
Partners’ capital (deficit), March 31, 2014		(2,122,247	)		(309,161	)		(2,431,408	)
Net income (loss)		425,753			4,301			430,054
Partners’ capital (deficit), March 31, 2015	$	(1,696,494	)	$	(304,860	)	$	(2,001,354	)

Series 24	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(545,303	)	$	(192,677	)	$	(737,980	)
Net income (loss)		1,609,438			16,257			1,625,695
Partners’ capital (deficit), March 31, 2014		1,064,135			(176,420	)		887,715
Net income (loss)		189,942			1,919			191,861
Partners’ capital (deficit), March 31, 2015	$	1,254,077		$	(174,501	)	$	1,079,576

Series 25	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	2,842,324		$	(231,334	)	$	2,610,990
Net income (loss)		(59,082	)		(597	)		(59,679	)
Partners’ capital (deficit), March 31, 2014		2,783,242			(231,931	)		2,551,311
Net income (loss)		1,249,239			12,619			1,261,858
Partners’ capital (deficit), March 31, 2015	$	4,032,481		$	(219,312	)	$	3,813,169

Series 26	Limited partners		General partner			Total
Partners’ capital (deficit), March 31, 2013	$	109,894	$	(342,580	)	$	(232,686	)
Net income (loss)		2,709,395		27,368			2,736,763
Partners’ capital (deficit), March 31, 2014		2,819,289		(315,212	)		2,504,077
Net income (loss)		552,198		5,578			557,776
Partners’ capital (deficit), March 31, 2015	$	3,371,487	$	(309,634	)	$	3,061,853

(continued)

F-61

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2015 and 2014

Series 27	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(1,163,460	)	$	(220,285	)	$	(1,383,745	)
Net income (loss)		2,361,817			23,857			2,385,674
Partners’ capital (deficit), March 31, 2014		1,198,357			(196,428	)		1,001,929
Net income (loss)		49,237			497			49,734
Partners’ capital (deficit), March 31, 2015	$	1,247,594		$	(195,931	)	$	1,051,663

Series 28	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(872,244	)	$	(356,031	)	$	(1,228,275	)
Net income (loss)		982,381			9,923			992,304
Partners’ capital (deficit), March 31, 2014		110,137			(346,108	)		(235,971	)
Net income (loss)		5,948,766			60,089			6,008,855
Partners’ capital (deficit), March 31, 2015	$	6,058,903		$	(286,019	)	$	5,772,884

Series 29	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(3,063,110	)	$	(373,008	)	$	(3,436,118	)
Net income (loss)		67,497			682			68,179
Partners’ capital (deficit), March 31, 2014		(2,995,613	)		(372,326	)		(3,367,939	)
Net income (loss)		44,392			448			44,840
Partners’ capital (deficit), March 31, 2015	$	(2,951,221	)	$	(371,878	)	$	(3,323,099	)

Series 30	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(1,151,819	)	$	(240,984	)	$	(1,392,803	)
Net income (loss)		(169,248	)		(1,710	)		(170,958	)
Partners’ capital (deficit), March 31, 2014		(1,321,067	)		(242,694	)		(1,563,761	)
Net income (loss)		(926	)		(9	)		(935	)
Partners’ capital (deficit), March 31, 2015	$	(1,321,993	)	$	(242,703	)	$	(1,564,696	)

(continued)

F-62

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2015 and 2014

Series 31	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(2,334,212	)	$	(406,667	)	$	(2,740,879	)
Net income (loss)		333,756			3,371			337,127
Partners’ capital (deficit), March 31, 2014		(2,000,456	)		(403,296	)		(2,403,752	)
Net income (loss)		2,540,761			25,664			2,566,425
Partners’ capital (deficit), March 31, 2015	$	540,305		$	(377,632	)	$	162,673

Series 32	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(2,149,545	)	$	(432,180	)	$	(2,581,725	)
Net income (loss)		(194,809	)		(1,968	)		(196,777	)
Partners’ capital (deficit), March 31, 2014		(2,344,354	)		(434,148	)		(2,778,502	)
Net income (loss)		(147,971	)		(1,495	)		(149,466	)
Partners’ capital (deficit), March 31, 2015	$	(2,492,325	)	$	(435,643	)	$	(2,927,968	)

Series 33	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(1,446,266	)	$	(242,669	)	$	(1,688,935	)
Net income (loss)		(128,787	)		(1,301	)		(130,088	)
Partners’ capital (deficit), March 31, 2014		(1,575,053	)		(243,970	)		(1,819,023	)
Net income (loss)		(32,203	)		(325	)		(32,528	)
Partners’ capital (deficit), March 31, 2015	$	(1,607,256	)	$	(244,295	)	$	(1,851,551	)

Series 34	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(3,231,619	)	$	(336,067	)	$	(3,567,686	)
Net income (loss)		(36,736	)		(371	)		(37,107	)
Partners’ capital (deficit), March 31, 2014		(3,268,355	)		(336,438	)		(3,604,793	)
Net income (loss)		355,668			3,593			359,261
Partners’ capital (deficit), March 31, 2015	$	(2,912,687	)	$	(332,845	)	$	(3,245,532	)

(continued)

F-63

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2015 and 2014

Series 35	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(1,651,752	)	$	(301,558	)	$	(1,953,310	)
Net income (loss)		(25,417	)		(257	)		(25,674	)
Partners’ capital (deficit), March 31, 2014		(1,677,169	)		(301,815	)		(1,978,984	)
Net income (loss)		(194,317	)		(1,963	)		(196,280	)
Partners’ capital (deficit), March 31, 2015	$	(1,871,486	)	$	(303,778	)	$	(2,175,264	)

Series 36	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(484,295	)	$	(185,360	)	$	(669,655	)
Net income (loss)		(120,302	)		(1,215	)		(121,517	)
Partners’ capital (deficit), March 31, 2014		(604,597	)		(186,575	)		(791,172	)
Net income (loss)		(99,022	)		(1,000	)		(100,022	)
Partners’ capital (deficit), March 31, 2015	$	(703,619	)	$	(187,575	)	$	(891,194	)

Series 37	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(1,559,442	)	$	(233,493	)	$	(1,792,935	)
Net income (loss)		(185,608	)		(1,875	)		(187,483	)
Partners’ capital (deficit), March 31, 2014		(1,745,050	)		(235,368	)		(1,980,418	)
Net income (loss)		(156,087	)		(1,577	)		(157,664	)
Partners’ capital (deficit), March 31, 2015	$	(1,901,137	)	$	(236,945	)	$	(2,138,082	)

Series 38	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(1,144,857	)	$	(232,054	)	$	(1,376,911	)
Net income (loss)		(102,004	)		(1,030	)		(103,034	)
Partners’ capital (deficit), March 31, 2014		(1,246,861	)		(233,084	)		(1,479,945	)
Net income (loss)		(119,219	)		(1,204	)		(120,423	)
Partners’ capital (deficit), March 31, 2015	$	(1,366,080	)	$	(234,288	)	$	(1,600,368	)

(continued)

F-64

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2015 and 2014

Series 39	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(1,059,085	)	$	(209,124	)	$	(1,268,209	)
Net income (loss)		(134,240	)		(1,356	)		(135,596	)
Partners’ capital (deficit), March 31, 2014		(1,193,325	)		(210,480	)		(1,403,805	)
Net income (loss)		(110,940	)		(1,121	)		(112,061	)
Partners’ capital (deficit), March 31, 2015	$	(1,304,265	)	$	(211,601	)	$	(1,515,866	)

Series 40	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(2,273,622	)	$	(250,182	)	$	(2,523,804	)
Net income (loss)		(205,856	)		(2,079	)		(207,935	)
Partners’ capital (deficit), March 31, 2014		(2,479,478	)		(252,261	)		(2,731,739	)
Net income (loss)		(207,673	)		(2,098	)		(209,771	)
Partners’ capital (deficit), March 31, 2015	$	(2,687,151	)	$	(254,359	)	$	(2,941,510	)

Series 41	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(2,444,612	)	$	(276,379	)	$	(2,720,991	)
Net income (loss)		(163,749	)		(1,654	)		(165,403	)
Partners’ capital (deficit), March 31, 2014		(2,608,361	)		(278,033	)		(2,886,394	)
Net income (loss)		(243,575	)		(2,460	)		(246,035	)
Partners’ capital (deficit), March 31, 2015	$	(2,851,936	)	$	(280,493	)	$	(3,132,429	)

Series 42	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	(972,931	)	$	(253,200	)	$	(1,226,131	)
Net income (loss)		(572,438	)		(5,782	)		(578,220	)
Partners’ capital (deficit), March 31, 2014		(1,545,369	)		(258,982	)		(1,804,351	)
Net income (loss)		(56,167	)		(567	)		(56,734	)
Partners’ capital (deficit), March 31, 2015	$	(1,601,536	)	$	(259,549	)	$	(1,861,085	)

(continued)

F-65

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT) - CONTINUED

Years ended March 31, 2015 and 2014

Series 43	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	26,856		$	(324,498	)	$	(297,642	)
Net income (loss)		(1,566,596	)		(15,824	)		(1,582,420	)
Partners’ capital (deficit), March 31, 2014		(1,539,740	)		(340,322	)		(1,880,062	)
Net income (loss)		(628,376	)		(6,347	)		(634,723	)
Partners’ capital (deficit), March 31, 2015	$	(2,168,116	)	$	(346,669	)	$	(2,514,785	)

Series 44	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	1,153,340		$	(228,197	)	$	925,143
Net income (loss)		(2,504,237	)		(25,295	)		(2,529,532	)
Partners’ capital (deficit), March 31, 2014		(1,350,897	)		(253,492	)		(1,604,389	)
Net income (loss)		(355,777	)		(3,594	)		(359,371	)
Partners’ capital (deficit), March 31, 2015	$	(1,706,674	)	$	(257,086	)	$	(1,963,760	)

Series 45	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	4,448,786		$	(312,297	)	$	4,136,489
Net income (loss)		(3,450,737	)		(34,856	)		(3,485,593	)
Partners’ capital (deficit), March 31, 2014		998,049			(347,153	)		650,896
Net income (loss)		(1,428,105	)		(14,425	)		(1,442,530	)
Partners’ capital (deficit), March 31, 2015	$	(430,056	)	$	(361,578	)	$	(791,634	)

Series 46	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2013	$	5,502,712		$	(209,814	)	$	5,292,898
Net income (loss)		(3,093,956	)		(31,252	)		(3,125,208	)
Partners’ capital (deficit), March 31, 2014		2,408,756			(241,066	)		2,167,690
Net income (loss)		(2,350,680	)		(23,744	)		(2,374,424	)
Partners’ capital (deficit), March 31, 2015	$	58,076		$	(264,810	)	$	(206,734	)

(see notes to financial statements)

F-66

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Years ended March 31, 2015 and 2014

	Total
	2015			2014
Cash flows from operating activities
Net income (loss)	$	5,420,641		$	(4,310,963	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(11,837,639	)		(7,643,945	)
Impairment loss		2,593,629			7,116,275
Distributions received from operating limited partnerships		103,773			113,637
Amortization		66,792			446,669
Changes in assets and liabilities
Other assets		(136,424	)		(35,657	)
Accounts payable and accrued expenses		22,219			(36,772	)
Accounts payable - affiliates		2,058,807			(3,133,570	)
Net cash provided by (used in) operating activities		(1,708,202	)		(7,484,326	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			(374,399	)
Proceeds from disposition of operating limited partnerships		12,631,500			10,499,552
Net cash provided by (used in) investing activities		12,631,500			10,125,153
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		10,923,298			2,640,827
Cash and cash equivalents, beginning		12,797,054			10,156,227
Cash and cash equivalents, ending	$	23,720,352		$	12,797,054
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	902
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	6,500		$	69,485

(continued)

F-67

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 20
	2015			2014
Cash flows from operating activities
Net income (loss)	$	88,834		$	606,391
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(70,580	)		(722,000	)
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(20,000	)
Accounts payable - affiliates		16,576			(539,749	)
Net cash provided by (used in) operating activities		34,830			(675,358	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		70,580			722,000
Net cash provided by (used in) investing activities		70,580			722,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		105,410			46,642
Cash and cash equivalents, beginning		204,785			158,143
Cash and cash equivalents, ending	$	310,195		$	204,785
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-68

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 21
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(46,655	)	$	3,069
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		-			(79,000	)
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			5,000
Accounts payable - affiliates		57,300			(20,070	)
Net cash provided by (used in) operating activities		10,645			(91,001	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			79,000
Net cash provided by (used in) investing activities		-			79,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		10,645			(12,001	)
Cash and cash equivalents, beginning		116,749			128,750
Cash and cash equivalents, ending	$	127,394		$	116,749
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-69

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 22
	2015			2014
Cash flows from operating activities
Net income (loss)	$	100,765		$	(98,478	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(166,896	)		-
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(82,281	)		(26,305	)
Net cash provided by (used in) operating activities		(148,412	)		(124,783	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		166,896			-
Net cash provided by (used in) investing activities		166,896			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		18,484			(124,783	)
Cash and cash equivalents, beginning		98,564			223,347
Cash and cash equivalents, ending	$	117,048		$	98,564
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-70

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 23
	2015			2014
Cash flows from operating activities
Net income (loss)	$	430,054		$	(125,463	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(426,346	)		-
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(343,237	)		71,819
Net cash provided by (used in) operating activities		(339,529	)		(53,644	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		426,346			-
Net cash provided by (used in) investing activities		426,346			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		86,817			(53,644	)
Cash and cash equivalents, beginning		118,542			172,186
Cash and cash equivalents, ending	$	205,359		$	118,542
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-71

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 24
	2015			2014
Cash flows from operating activities
Net income (loss)	$	191,861		$	1,625,695
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(207,327	)		(1,630,062	)
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			3,422
Accounts payable and accrued expenses		3,335			3,000
Accounts payable - affiliates		-			(2,468,363	)
Net cash provided by (used in) operating activities		(12,131	)		(2,466,308	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		127,287			1,630,062
Net cash provided by (used in) investing activities		127,287			1,630,062
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		115,156			(836,246	)
Cash and cash equivalents, beginning		890,715			1,726,961
Cash and cash equivalents, ending	$	1,005,871		$	890,715
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-72

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 25
	2015			2014
Cash flows from operating activities
Net income (loss)	$	1,261,858		$	(59,679	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(1,295,124	)		-
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			7,726
Accounts payable and accrued expenses		-			(978	)
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(33,266	)		(52,931	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		1,295,124			618,889
Net cash provided by (used in) investing activities		1,295,124			618,889
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		1,261,858			565,958
Cash and cash equivalents, beginning		2,550,061			1,984,103
Cash and cash equivalents, ending	$	3,811,919		$	2,550,061
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-73

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 26
	2015			2014
Cash flows from operating activities
Net income (loss)	$	557,776		$	2,736,763
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(647,125	)		(2,801,657	)
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			4,363
Accounts payable and accrued expenses		15,507			(2,500	)
Accounts payable - affiliates		-			(499,347	)
Net cash provided by (used in) operating activities		(73,842	)		(562,378	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		576,832			2,801,657
Net cash provided by (used in) investing activities		576,832			2,801,657
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		502,990			2,239,279
Cash and cash equivalents, beginning		2,510,330			271,051
Cash and cash equivalents, ending	$	3,013,320		$	2,510,330
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-74

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 27
	2015			2014
Cash flows from operating activities
Net income (loss)	$	49,734		$	2,385,674
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(237,896	)		(2,508,394	)
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			733
Accounts payable and accrued expenses		-			(7,500	)
Accounts payable - affiliates		(44,238	)		(1,559,279	)
Net cash provided by (used in) operating activities		(232,400	)		(1,688,766	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		234,376			2,508,394
Net cash provided by (used in) investing activities		234,376			2,508,394
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		1,976			819,628
Cash and cash equivalents, beginning		1,049,687			230,059
Cash and cash equivalents, ending	$	1,051,663		$	1,049,687
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	6,500		$	-

(continued)

F-75

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 28
	2015			2014
Cash flows from operating activities
Net income (loss)	$	6,008,855		$	992,304
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(5,854,818	)		(939,495	)
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		1,567			733
Accounts payable and accrued expenses		(4,500	)		7,500
Accounts payable - affiliates		(706,182	)		(870,954	)
Net cash provided by (used in) operating activities		(555,078	)		(809,912	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		5,813,850			939,495
Net cash provided by (used in) investing activities		5,813,850			939,495
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		5,258,772			129,583
Cash and cash equivalents, beginning		515,862			386,279
Cash and cash equivalents, ending	$	5,774,634		$	515,862
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-76

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 29
	2015			2014
Cash flows from operating activities
Net income (loss)	$	44,840		$	68,179
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(278,493	)		(344,656	)
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		1,500			-
Accounts payable - affiliates		230,779			75,854
Net cash provided by (used in) operating activities		(1,374	)		(200,623	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		278,493			342,694
Net cash provided by (used in) investing activities		278,493			342,694
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		277,119			142,071
Cash and cash equivalents, beginning		224,155			82,084
Cash and cash equivalents, ending	$	501,274		$	224,155
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-77

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 30
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(935	)	$	(170,958	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(94,887	)		-
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		143,019			155,148
Net cash provided by (used in) operating activities		47,197			(15,810	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		21,630			-
Net cash provided by (used in) investing activities		21,630			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		68,827			(15,810	)
Cash and cash equivalents, beginning		253,948			269,758
Cash and cash equivalents, ending	$	322,775		$	253,948
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-78

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 31
	2015			2014
Cash flows from operating activities
Net income (loss)	$	2,566,425		$	337,127
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(2,840,263	)		(624,556	)
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		(2,257	)		2,257
Accounts payable - affiliates		(310,268	)		279,204
Net cash provided by (used in) operating activities		(586,363	)		(5,968	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		2,840,263			624,556
Net cash provided by (used in) investing activities		2,840,263			624,556
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		2,253,900			618,588
Cash and cash equivalents, beginning		852,580			233,992
Cash and cash equivalents, ending	$	3,106,480		$	852,580
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-79

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 32
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(149,466	)	$	(196,777	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(107,673	)		(3,428	)
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		993			-
Accounts payable - affiliates		194,588			270,411
Net cash provided by (used in) operating activities		(61,558	)		70,206
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			(100,590	)
Proceeds from disposition of operating limited partnerships		105,416			3,428
Net cash provided by (used in) investing activities		105,416			(97,162	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		43,858			(26,956	)
Cash and cash equivalents, beginning		310,949			337,905
Cash and cash equivalents, ending	$	354,807		$	310,949
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	69,485

(continued)

F-80

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 33
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(32,528	)	$	(130,088	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(53,079	)		-
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		650			-
Accounts payable - affiliates		118,662			123,408
Net cash provided by (used in) operating activities		33,705			(6,680	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		53,079			-
Net cash provided by (used in) investing activities		53,079			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		86,784			(6,680	)
Cash and cash equivalents, beginning		194,920			201,600
Cash and cash equivalents, ending	$	281,704		$	194,920
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-81

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 34
	2015			2014
Cash flows from operating activities
Net income (loss)	$	359,261		$	(37,107	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(502,727	)		(176,333	)
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		2,802			3,000
Accounts payable - affiliates		176,928			269,332
Net cash provided by (used in) operating activities		36,264			58,892
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		502,727			176,333
Net cash provided by (used in) investing activities		502,727			176,333
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		538,991			235,225
Cash and cash equivalents, beginning		299,036			63,811
Cash and cash equivalents, ending	$	838,027		$	299,036
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-82

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 35
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(196,280	)	$	(25,674	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		-			-
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		1,500			-
Accounts payable - affiliates		148,216			202,082
Net cash provided by (used in) operating activities		(46,564	)		176,408
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(46,564	)		176,408
Cash and cash equivalents, beginning		278,190			101,782
Cash and cash equivalents, ending	$	231,626		$	278,190
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-83

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 36
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(100,022	)	$	(121,517	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(25,054	)		-
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		82,426			(867,520	)
Net cash provided by (used in) operating activities		(42,650	)		(989,037	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		25,054			-
Net cash provided by (used in) investing activities		25,054			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(17,596	)		(989,037	)
Cash and cash equivalents, beginning		448,179			1,437,216
Cash and cash equivalents, ending	$	430,583		$	448,179
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-84

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 37
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(157,664	)	$	(187,483	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		-			-
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		1,024			-
Accounts payable - affiliates		196,940			204,864
Net cash provided by (used in) operating activities		40,300			17,381
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		40,300			17,381
Cash and cash equivalents, beginning		305,167			287,786
Cash and cash equivalents, ending	$	345,467		$	305,167
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-85

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 38
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(120,423	)	$	(103,034	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		-			-
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		164,400			164,400
Net cash provided by (used in) operating activities		43,977			61,366
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		43,977			61,366
Cash and cash equivalents, beginning		236,887			175,521
Cash and cash equivalents, ending	$	280,864		$	236,887
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-86

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 39
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(112,061	)	$	(135,596	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(29,999	)		-
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		134,085			136,800
Net cash provided by (used in) operating activities		(7,975	)		1,204
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		29,999			-
Net cash provided by (used in) investing activities		29,999			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		22,024			1,204
Cash and cash equivalents, beginning		144,094			142,890
Cash and cash equivalents, ending	$	166,118		$	144,094
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-87

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 40
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(209,771	)	$	(207,935	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		-			-
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		210,791			212,501
Net cash provided by (used in) operating activities		1,020			4,566
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		1,020			4,566
Cash and cash equivalents, beginning		96,711			92,145
Cash and cash equivalents, ending	$	97,731		$	96,711
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-88

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 41
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(246,035	)	$	(165,403	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		-			(52,000	)
Impairment loss		-			-
Distributions received from operating limited partnerships		-			-
Amortization		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		237,564			185,732
Net cash provided by (used in) operating activities		(8,471	)		(31,671	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			52,000
Net cash provided by (used in) investing activities		-			52,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(8,471	)		20,329
Cash and cash equivalents, beginning		167,428			147,099
Cash and cash equivalents, ending	$	158,957		$	167,428
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-89

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 42
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(56,734	)	$	(578,220	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		(103,508	)		102,342
Impairment loss		-			212,553
Distributions received from operating limited partnerships		-			2,505
Amortization		-			69,160
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		1,665			-
Accounts payable - affiliates		248,290			198,700
Net cash provided by (used in) operating activities		89,713			7,040
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		63,548			-
Net cash provided by (used in) investing activities		63,548			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		153,261			7,040
Cash and cash equivalents, beginning		266,762			259,722
Cash and cash equivalents, ending	$	420,023		$	266,762
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-90

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 43
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(634,723	)	$	(1,582,420	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		47,235			280,816
Impairment loss		268,187			972,475
Distributions received from operating limited partnerships		16,140			48,527
Amortization		66,792			66,792
Changes in assets and liabilities
Other assets		(19,648	)		(12,240	)
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		306,780			306,780
Net cash provided by (used in) operating activities		50,763			80,730
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			(21,847	)
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			(21,847	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		50,763			58,883
Cash and cash equivalents, beginning		303,384			244,501
Cash and cash equivalents, ending	$	354,147		$	303,384
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-91

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 44
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(359,371	)	$	(2,529,532	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		118,343			270,876
Impairment loss		-			1,696,224
Distributions received from operating limited partnerships		-			-
Amortization		-			282,800
Changes in assets and liabilities
Other assets		(118,343	)		(40,394	)
Accounts payable and accrued expenses		-			(21,551	)
Accounts payable - affiliates		330,753			289,848
Net cash provided by (used in) operating activities		(28,618	)		(51,729	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			(251,962	)
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			(251,962	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(28,618	)		(303,691	)
Cash and cash equivalents, beginning		38,362			342,053
Cash and cash equivalents, ending	$	9,744		$	38,362
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	902
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-92

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 45
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(1,442,530	)	$	(3,485,593	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		239,227			665,720
Impairment loss		918,818			2,293,749
Distributions received from operating limited partnerships		8,342			41,988
Amortization		-			17,816
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(5,000	)
Accounts payable - affiliates		297,388			321,606
Net cash provided by (used in) operating activities		21,245			(149,714	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			1,044
Net cash provided by (used in) investing activities		-			1,044
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		21,245			(148,670	)
Cash and cash equivalents, beginning		126,153			274,823
Cash and cash equivalents, ending	$	147,398		$	126,153
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-93

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2015 and 2014

	Series 46
	2015			2014
Cash flows from operating activities
Net income (loss)	$	(2,374,424	)	$	(3,125,208	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Share of (income) losses from operating limited partnerships		699,351			917,882
Impairment loss		1,406,624			1,941,274
Distributions received from operating limited partnerships		79,291			20,617
Amortization		-			10,101
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		249,528			249,528
Net cash provided by (used in) operating activities		60,370			14,194
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		60,370			14,194
Cash and cash equivalents, beginning		194,854			180,660
Cash and cash equivalents, ending	$	255,224		$	194,854
Supplemental schedule of noncash investing and financing activities
The fund has decreased its investments in operating limited partnerships and decreased its capital contribution obligation to operating limited partnerships for low-income tax credits not generated.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(see notes to financial statements)

F-94

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS

March 31, 2015 and 2014

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Boston Capital Tax Credit Fund IV L.P. (the Partnership or Fund) was organized under the laws of the State of Delaware as of October 5, 1993, for the purpose of acquiring, holding, and disposing of limited partnership interests in operating limited partnerships which acquire, develop, rehabilitate, operate and own newly-constructed, existing or rehabilitated apartment complexes which qualify for the Low-Income Housing Tax Credit established by the Tax Reform Act of 1986. Accordingly, the apartment complexes are restricted as to rent charges and operating methods. Certain of the apartment complexes may also qualify for the Historic Rehabilitation Tax Credit for their rehabilitation of certified historic structures and are subject to the provisions of the Internal Revenue Code relating to the Rehabilitation Investment Credit. The general partner of the fund is Boston Capital Associates IV L.P. and the limited partner is BCTC IV Assignor Corp. (the assignor limited partner).

In accordance with the limited partnership agreement, profits, losses, and cash flow (subject to certain priority allocations and distributions) and tax credits are allocated 99% to the assignees and 1% to the general partner.

Pursuant to the Securities Act of 1933, the fund filed a Form S-11 Registration Statement with the Securities and Exchange Commission, effective December 16, 1993, which covered the offering (the Public Offering) of the beneficial assignee certificates (BACs) representing assignments of units of the beneficial interest of the limited partnership interest of the assignor limited partner. The fund has registered 101,500,000 BACs at $10 per BAC for sale to the public in one or more series. BACs sold in bulk are offered to investors at a reduced cost per BAC.

F-95

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

The BACs issued and outstanding in each series as of March 31, 2015 and 2014 are as follows:

	Issued				Outstanding
	2015		2014		2015		2014
Series 20		3,866,700		3,866,700		3,857,700		3,864,700
Series 21		1,892,700		1,892,700		1,888,200		1,888,200
Series 22		2,564,400		2,564,400		2,560,800		2,561,400
Series 23		3,336,727		3,336,727		3,333,227		3,336,227
Series 24		2,169,878		2,169,878		2,162,378		2,168,878
Series 25		3,026,109		3,026,109		3,024,509		3,025,609
Series 26		3,995,900		3,995,900		3,990,700		3,995,200
Series 27		2,460,700		2,460,700		2,459,700		2,460,700
Series 28		4,000,738		4,000,738		3,998,738		3,999,738
Series 29		3,991,800		3,991,800		3,989,500		3,991,300
Series 30		2,651,000		2,651,000		2,643,000		2,651,000
Series 31		4,417,857		4,417,857		4,409,757		4,415,757
Series 32		4,754,198		4,754,198		4,748,198		4,751,198
Series 33		2,636,533		2,636,533		2,635,533		2,635,533
Series 34		3,529,319		3,529,319		3,523,219		3,528,319
Series 35		3,300,463		3,300,463		3,295,763		3,298,763
Series 36		2,106,838		2,106,838		2,102,504		2,104,504
Series 37		2,512,500		2,512,500		2,512,500		2,512,500
Series 38		2,543,100		2,543,100		2,543,100		2,543,100
Series 39		2,292,151		2,292,151		2,291,151		2,292,151
Series 40		2,630,256		2,630,256		2,628,756		2,630,256
Series 41		2,891,626		2,891,626		2,891,626		2,891,626
Series 42		2,744,262		2,744,262		2,744,262		2,744,262
Series 43		3,637,987		3,637,987		3,637,987		3,637,987
Series 44		2,701,973		2,701,973		2,701,973		2,701,973
Series 45		4,014,367		4,014,367		4,014,367		4,014,367
Series 46		2,980,998		2,980,998		2,979,998		2,980,998
		83,651,080		83,651,080		83,569,146		83,626,246

F-96

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Investments in Operating Limited Partnerships

The Fund accounts for its investments in operating limited partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each operating limited partnership’s results of operations and for any distributions received or accrued. However, the Fund recognizes the individual operating limited partnership’s losses only to the extent that the Fund’s share of losses from the operating limited partnerships does not exceed the carrying amount of its investment and its advances to operating limited partnerships. Unrecognized losses are suspended and offset against future individual operating limited partnership income.

After the investment account is reduced to zero, receivables due from the operating limited partnerships are decreased by the partnership’s share of losses and, accordingly, a valuation allowance is recorded against the receivables. Accordingly, the Fund recorded a valuation allowance of $709,402 and $571,985 as of March 31, 2015 and 2014, respectively.

The Fund reviews its investment in operating limited partnerships for impairment whenever events or changes in circumstances indicate that the carrying amount of such investments may not be recoverable. Recoverability is measured by a comparison of the carrying amount of the investment to the sum of the total amount of the remaining tax credits and the estimated residual value of the investment. The Fund also evaluates its intangibles for impairment in connection with its investments in operating limited partnerships. Impairment losses have been recognized for the years ended March 31, 2015 and 2014 of $2,593,629 and $7,116,275, respectively.

Capital contributions to operating limited partnerships are adjusted by tax credit adjusters. Tax credit adjusters are defined as adjustments to operating limited partnership capital contributions due to reductions in actual tax credits from those originally projected. The Fund records tax credit adjusters as a reduction in investments in operating limited partnerships and capital contributions payable.

The operating limited partnerships maintain their financial statements based on a calendar year and the fund utilizes a March 31 year end. The Fund records losses and income from the operating limited partnerships on a calendar year basis which is not materially different from losses and income generated if the operating limited partnerships utilized a March 31 year end.

The Fund records capital contributions payable to the operating limited partnerships once there is a binding obligation to fund a specified amount. The operating limited partnerships record capital contributions from the fund when received.

F-97

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Investments in Operating Limited Partnerships (Continued)

Prior to January 1, 1999, the Fund recorded acquisition costs as an increase in its investments in operating limited partnerships. These costs were amortized by the operating limited partnerships over 27.5 years on the straight-line method. Certain operating limited partnerships have not recorded the acquisition costs as a capital contribution from the fund. These differences are shown as reconciling items in note C. As of January 1, 1999, the Fund records acquisition costs incurred after January 1, 1999 as deferred acquisition costs. These costs are amortized on the straight-line method.

In accordance with the accounting guidance for the consolidation of variable interest entities, the Fund determines when it should include the assets, liabilities, and activities of a variable interest entity (VIE) in its financial statements, and when it should disclose information about its relationship with a VIE. A VIE is a legal structure used to conduct activities or hold assets, which must be consolidated by a company if it is the primary beneficiary because it has (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (2) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. If multiple unrelated parties share such power, as defined, no party is required to consolidate the VIE.

The Fund determines whether an entity is a VIE and whether it is the primary beneficiary at the date of initial involvement with the entity. The Fund reassesses whether it is the primary beneficiary of a VIE on an ongoing basis based on changes in facts and circumstances. In determining whether it is the primary beneficiary, the Partnership considers the purpose and activities of the VIE, including the variability and related risks the VIE incurs and transfers to other entities and their related parties. These factors are considered in determining whether the Fund has the power to direct activities of the VIE that most significantly impact the VIE’s economic performance and whether the Fund also has the obligation to absorb losses of or receive benefits from the VIE that could be potentially significant to the VIE. If the Fund determines that it is the primary beneficiary of the VIE, the VIE is consolidated within the Partnership’s financial statements.

Based on this guidance, the operating limited partnerships in which the Fund invests meet the definition of a VIE. However, management does not consolidate the Fund’s interests in these VIEs under this guidance, as it is not considered to be the primary beneficiary. The Fund currently records the amount of its investment in these operating limited partnerships as an asset on its balance sheets, recognizes its share of the operating limited partnership income or losses in the statements of operations, and discloses how it accounts for material types of these investments in its financial statements. The Fund’s balance in investment in operating limited partnerships, advances to operating limited partnerships, plus the risk of recapture of tax credits previously recognized on these investments, represents its maximum exposure to loss. The Fund’s exposure to loss on these operating limited partnerships is mitigated by the condition and financial performance of the underlying properties as well as the strength of the operating limited partnerships' general partners and their guarantee against credit recapture.

Recent Accounting Pronouncement

In February, 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis”. This will improve certain areas of consolidation guidance for reporting organizations that are required to evaluate whether to consolidate certain legal entities such as limited partnerships, limited liability corporations, and securitization structures. ASU 2015-02 simplified and improves GAAP by: eliminating the presumption that a general partner should consolidate a limited partnership, eliminating the indefinite deferral of FASB Statement No. 167, thereby reducing the number of Variable Interest Entity (VIE) consolidation models from four to two (including the limited partnership consolidation model), and clarifying when fees paid to a decision maker should be a factor to include in the consolidation of VIEs. ASU 2015-02 will be effective for periods beginning after December 15, 2015. The Fund is currently evaluating the potential impact of the adoption of this guidance on its financial statements.

F-98

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Deferred Acquisition Costs

Acquisition costs were amortized on the straight-line method over 27.5 years. As of March 31, 2015 and 2014, an impairment loss of $133,584 and $1,139,623, respectively, was recorded and the lives of the remaining acquisition costs were reassessed.

Accumulated amortization as of March 31, 2015 and 2014, as well as the March 31, 2015 and 2014 impairments and the remaining lives are as follows:

	Accumulated Amortization		Accumulated Amortization		Acquisition Costs Impairment		Acquisition Costs Impairment		Remaining Life Acquistion Costs
	2015		2014		2015		2014		Years
Series 20	$	-	$	-	$	-	$	-		-
Series 21		-		-		-		-		-
Series 22		-		-		-		-		-
Series 23		-		-		-		-		-
Series 24		-		-		-		-		-
Series 25		-		-		-		-		-
Series 26		-		-		-		-		-
Series 27		-		-		-		-		-
Series 28		-		-		-		-		-
Series 29		-		-		-		-		-
Series 30		-		-		-		-		-
Series 31		-		-		-		-		-
Series 32		-		-		-		-		-
Series 33		-		-		-		-		-
Series 34		-		-		-		-		-
Series 35		-		-		-		-		-
Series 36		-		-		-		-		-
Series 37		-		-		-		-		-
Series 38		-		-		-		-		-
Series 39		-		-		-		-		-
Series 40		-		-		-		-		-
Series 41		-		-		-		-		-
Series 42		-		-		-		207,482		-
Series 43		-		133,584		133,584		-		-
Series 44		-		-		-		848,390		-
Series 45		-		-		-		53,446		-
Series 46		-		-		-		30,305		-
	$	-	$	133,584	$	133,584	$	1,139,623

F-99

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Income Taxes

The Fund has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The funds’s federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Fund has no other tax positions which must be considered for disclosure. Income tax returns filed by the Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2011 remain open.

Cash and Cash Equivalents

Cash equivalents include money market accounts having original maturities at date of acquisition of three months or less. The carrying value approximates fair value because of the short maturity of these instruments.

Fiscal Year

For financial reporting purposes, the fund uses a March 31 year end, whereas for income tax reporting purposes, the fund uses a calendar year. The operating limited partnerships use a calendar year for both financial and income tax reporting.

F-100

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Net Loss Per Beneficial Assignee Certificate Unit

Net loss per beneficial assignee certificate unit is calculated based upon the weighted average number of units outstanding during the year or period. The weighted average number of units in each series at March 31, 2015 and 2014 are as follows:

	2015		2014
Series 20		3,862,950		3,865,450
Series 21		1,888,200		1,890,075
Series 22		2,561,250		2,563,650
Series 23		3,335,477		3,336,602
Series 24		2,167,253		2,169,628
Series 25		3,025,334		3,025,609
Series 26		3,994,075		3,995,200
Series 27		2,460,450		2,460,700
Series 28		3,999,488		4,000,113
Series 29		3,990,850		3,991,675
Series 30		2,649,000		2,651,000
Series 31		4,414,257		4,417,332
Series 32		4,750,448		4,753,240
Series 33		2,635,533		2,635,533
Series 34		3,527,044		3,529,069
Series 35		3,298,013		3,300,038
Series 36		2,104,004		2,106,255
Series 37		2,512,500		2,512,500
Series 38		2,543,100		2,543,100
Series 39		2,291,901		2,292,151
Series 40		2,629,881		2,630,256
Series 41		2,891,626		2,891,626
Series 42		2,744,262		2,744,262
Series 43		3,637,987		3,637,987
Series 44		2,701,973		2,701,973
Series 45		4,014,367		4,014,367
Series 46		2,980,748		2,980,998
		83,611,971		83,640,389

F-101

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

F-102

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE B - RELATED PARTY TRANSACTIONS

During the years ended March 31, 2015 and 2014, the Fund entered into several transactions with various affiliates of the general partner, including Boston Capital Partners, Inc. (BCP), Boston Capital Services, Inc. (BCS), Boston Capital Holdings Limited Partnership (BCHLP) and Boston Capital Asset Management Limited Partnership (BCAM), as follows:

The Fund incurred a fund management fee to Boston Capital Asset Management Limited Partnership in an amount equal to .5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of various asset management and reporting fees paid by the Operating Partnerships. The fund management fees net of reporting fees incurred and the reporting fees paid by the Operating Partnerships for the years ended March 31, 2015 and 2014, are as follows:

	2015
	Gross Fund Management Fee		Asset Management and Reporting Fee		Fund Management Fee net of Asset Management and Reporting Fee
Series 20	$	66,576	$	123,117	$	(56,541	)
Series 21		57,300		37,051		20,249
Series 22		59,835		27,311		32,524
Series 23		83,109		115,250		(32,141	)
Series 24		64,002		83,730		(19,728	)
Series 25		27,661		8,260		19,401
Series 26		152,491		111,234		41,257
Series 27		163,014		22,076		140,938
Series 28		173,354		93,978		79,376
Series 29		230,779		47,727		183,052
Series 30		143,019		81,311		61,708
Series 31		294,288		66,713		227,575
Series 32		256,588		23,342		233,246
Series 33		118,662		59,633		59,029
Series 34		226,928		100,863		126,065
Series 35		198,216		24,985		173,231
Series 36		132,480		14,079		118,401
Series 37		196,940		43,500		153,440
Series 38		164,400		19,315		145,085
Series 39		134,085		9,022		125,063
Series 40		200,016		14,607		185,409
Series 41		237,564		18,131		219,433
Series 42		248,290		84,524		163,766
Series 43		306,780		38,745		268,035
Series 44		254,628		48,108		206,520
Series 45		283,200		35,650		247,550
Series 46		249,528		22,723		226,805
	$	4,723,733	$	1,374,985	$	3,348,748

F-103

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

	2014
	Gross Fund Management Fee		Asset Management and Reporting Fee		Fund Management Fee net of Asset Management and Reporting Fee
Series 20	$	88,653	$	11,304	$	77,349
Series 21		58,930		3,676		55,254
Series 22		64,070		5,000		59,070
Series 23		90,719		6,500		84,219
Series 24		91,732		111,298		(19,566	)
Series 25		47,508		9,612		37,896
Series 26		208,009		187,315		20,694
Series 27		204,780		78,159		126,621
Series 28		277,316		120,474		156,842
Series 29		307,485		59,597		247,888
Series 30		155,148		19,861		135,287
Series 31		329,204		62,574		266,630
Series 32		271,860		61,166		210,694
Series 33		123,408		16,389		107,019
Series 34		256,596		17,321		239,275
Series 35		202,082		52,603		149,479
Series 36		132,480		19,023		113,457
Series 37		204,864		20,389		184,475
Series 38		164,400		22,599		141,801
Series 39		136,800		17,748		119,052
Series 40		200,016		21,590		178,426
Series 41		237,732		38,056		199,676
Series 42		248,700		63,265		185,435
Series 43		306,780		60,352		246,428
Series 44		277,353		52,403		224,950
Series 45		363,051		54,934		308,117
Series 46		249,528		36,531		212,997
	$	5,299,204	$	1,229,739	$	4,069,465

All fund management fees will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the partnership's interests in operating limited partnerships. As of March 31, 2015 and 2014, total fund management fees accrued were $50,628,768 and $48,671,049, respectively.

F-104

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

The fund management fees paid for the years ended March 31, 2015 and 2014, are as follows:

	2015		2014
Series 20	$	50,000	$	628,402
Series 21		-		79,000
Series 22		142,116		90,375
Series 23		426,346		18,900
Series 24		64,002		2,560,095
Series 25		27,661		47,508
Series 26		152,491		707,356
Series 27		207,252		1,764,059
Series 28		879,536		1,148,270
Series 29		-		231,631
Series 30		-		-
Series 31		604,556		50,000
Series 32		62,000		1,449
Series 33		-		-
Series 34		50,000		-
Series 35		50,000		-
Series 36		50,054		1,000,000
Series 37		-		-
Series 38		-		-
Series 39		-		-
Series 40		-		-
Series 41		-		52,000
Series 42		-		50,000
Series 43		-		-
Series 44		-		-
Series 45		-		50,442
Series 46		-		-
	$	2,766,014	$	8,479,487

F-105

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

An affiliate of the general partner of the Fund has advanced funds to pay some operating expenses of the fund, and to make advances and/or loans to operating limited partnerships. These advances are included in accounts payable to affiliates. The total advances as of March 31, 2015 and 2014, are as follows:

	2015		2014
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		-		-
Series 30		-		-
Series 31		-		-
Series 32		-		-
Series 33		54,660		54,660
Series 34		133,578		133,578
Series 35		-		-
Series 36		-		-
Series 37		-		-
Series 38		-		-
Series 39		220,455		220,455
Series 40		370,404		359,629
Series 41		359,757		359,757
Series 42		221,615		221,615
Series 43		-		-
Series 44		88,620		12,495
Series 45		23,185		8,997
Series 46		-		-
	$	1,472,274	$	1,371,186

During the year ended March 31, 2015, $10,775, $76,125 and $14,188 for Series 40, Series 44 and Series 45, respectively, was advanced to the Fund by an affiliate of the general partner. During the year ended March 31, 2014, $12,736, $12,485, $12,495 and $8,997, for Series 34, Series 40, Series 44 and Series 45, respectively, was advanced to the Fund by an affiliate of the general partner. All payables to affiliates will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the Fund's interests in Operating Partnerships.

F-106

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

During the years ended March 31, 2015 and 2014, general and administrative expenses incurred by Boston Capital Partners, Inc., Boston Capital Holdings Limited Partnership and/or Boston Capital Asset Management Limited Partnership were charged to each series’ operations as follows:

	2015		2014
Series 20	$	11,573	$	13,320
Series 21		8,823		10,180
Series 22		10,045		11,792
Series 23		11,378		13,081
Series 24		10,985		11,458
Series 25		11,555		12,154
Series 26		14,657		16,057
Series 27		11,275		11,979
Series 28		12,468		14,353
Series 29		12,872		14,663
Series 30		11,064		12,284
Series 31		13,474		15,196
Series 32		12,697		14,268
Series 33		9,883		11,031
Series 34		11,371		12,736
Series 35		10,999		12,216
Series 36		9,543		10,822
Series 37		9,561		10,690
Series 38		10,049		11,184
Series 39		9,468		10,889
Series 40		10,775		12,485
Series 41		11,646		14,228
Series 42		11,625		16,252
Series 43		12,922		15,570
Series 44		10,125		12,495
Series 45		14,188		17,433
Series 46		11,581		13,750
	$	306,602	$	352,566

Accounts payable - affiliates at March 31, 2015 and 2014 represents general and administrative expenses, fund management fees, and commissions which are payable to Boston Capital Partners, Inc., Boston Capital Holdings Limited Partnership, Boston Capital Services, Inc., and Boston Capital Asset Management Limited Partnership.

F-107

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS

At March 31, 2015 and 2014, the fund has limited partnership interests in operating limited partnerships, which own or are constructing or rehabilitating operating apartment complexes. 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

F-108

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-109

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

Under the terms of the Fund’s investment in each operating limited partnership, the Fund is required to make capital contributions to the operating limited partnerships. These contributions are payable in installments over several years upon each operating limited partnership achieving specified levels of construction or operations. 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

F-110

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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			-			-

F-111

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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	)

F-112

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-113

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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	)

F-114

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-115

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-116

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-117

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-118

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-119

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-120

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-121

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-122

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-123

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-124

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-125

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-126

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

F-127

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-128

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

F-129

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-130

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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			-			-

F-131

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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	)

F-132

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-133

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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	)

F-134

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-135

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-136

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-137

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-138

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-139

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-140

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-141

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-142

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-143

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-144

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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		-			-			-

F-145

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-146

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

F-147

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-148

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

F-149

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	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

F-150

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

F-151

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-152

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-153

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-154

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-155

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-156

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-157

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-158

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-159

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-160

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

F-161

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-162

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-163

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-164

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-165

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-166

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-167

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-168

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-169

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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 - CONTINUED

	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

F-170

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-171

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-172

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-173

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-174

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-175

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-176

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-177

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-178

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-179

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-180

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-181

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-182

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-183

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-184

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-185

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-186

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-187

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-188

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-189

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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.

F-190

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE D - NOTES RECEIVABLE

Notes receivable at March 31, 2015 and 2014 consist of advance installments of $22,790 for both years, of capital contributions to operating limited partnerships. The notes are comprised of interest bearing notes at prime + 1.75%. Prime was 3.25% as of March 31, 2015 and 2014. These notes are secured by future installments of capital contributions or paid upon demand. The notes at March 31, 2015 and 2014 by series are as follows:

	2015		2014
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		-		-
Series 30		-		-
Series 31		-		-
Series 32		-		-
Series 33		-		-
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		-
Series 38		-		-
Series 39		-		-
Series 40		-		-
Series 41		-		-
Series 42		22,790		22,790
Series 43		-		-
Series 44		-		-
Series 45		-		-
Series 46		-		-
	$	22,790	$	22,790

F-191

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2015 is reconciled as follows:

	Total			Series 20			Series 21
Net income (loss) for financial reporting purposes	$	5,420,641		$	88,834		$	(46,655	)
Operating limited partnership rents received in advance		10,037			-			68
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		1,957,719			16,576			57,300
Other		10,047,309			1,794,570			34,967
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(13,543,112	)		(71,803	)		(28,188	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(5,944,658	)		(42,143	)		(177,003	)
Impairment loss not recognized for tax purposes		2,593,629			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(17,332,242	)		(510,585	)		(1,125	)
Income (loss) for tax return purposes, December 31, 2014	$	(16,790,677	)	$	1,275,449		$	(160,636	)

F-192

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2015 is reconciled as follows:

	Series 22			Series 23			Series 24
Net income (loss) for financial reporting purposes	$	100,765		$	430,054		$	191,861
Operating limited partnership rents received in advance		-			-			(782	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(82,281	)		(343,237	)		-
Other		818,041			1,538,015			387,925
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(209,033	)		(91,241	)		(175,016	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(57,628	)		(179,565	)		(35,225	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(171,862	)		(485,931	)		(283,609	)
Income (loss) for tax return purposes, December 31, 2014	$	398,002		$	868,095		$	85,154

F-193

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2015 is reconciled as follows:

	Series 25			Series 26			Series 27
Net income (loss) for financial reporting purposes	$	1,261,858		$	557,776		$	49,734
Operating limited partnership rents received in advance		-			-			9,626
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			-			(44,238	)
Other		87,932			(125,676	)		753,365
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(51,562	)		(600,059	)		(259,374	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(75,791	)		(225,709	)		(114,847	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(1,310,427	)		(660,287	)		(1,610,120	)
Income (loss) for tax return purposes, December 31, 2014	$	(87,990	)	$	(1,053,955	)	$	(1,215,854	)

F-194

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2015 is reconciled as follows:

	Series 28			Series 29			Series 30
Net income (loss) for financial reporting purposes	$	6,008,855		$	44,840		$	(935	)
Operating limited partnership rents received in advance		-			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(706,182	)		230,779			143,019
Other		(2,404,086	)		3,736,436			32,998
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(540,340	)		(594,731	)		(378,697	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(81,811	)		(244,689	)		(194,560	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(6,733,186	)		(361,790	)		(131,309	)
Income (loss) for tax return purposes, December 31, 2014	$	(4,456,750	)	$	2,810,845		$	(529,484	)

F-195

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2015 is reconciled as follows:

	Series 31			Series 32			Series 33
Net income (loss) for financial reporting purposes	$	2,566,425		$	(149,466	)	$	(32,528	)
Operating limited partnership rents received in advance		3,903			9,964			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(310,268	)		194,588			118,662
Other		(998,553	)		(201,893	)		(160,568	)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(621,755	)		(1,317,109	)		(326,229	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(377,130	)		(208,093	)		(126,770	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(2,867,783	)		(117,871	)		(123,520	)
Income (loss) for tax return purposes, December 31, 2014	$	(2,605,161	)	$	(1,789,880	)	$	(650,953	)

F-196

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2015 is reconciled as follows:

	Series 34			Series 35			Series 36
Net income (loss) for financial reporting purposes	$	359,261		$	(196,280	)	$	(100,022	)
Operating limited partnership rents received in advance		-			1,011			(18,119	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		176,928			148,216			82,426
Other		(1,485,680	)		143,386			143,779
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(402,243	)		(579,167	)		(567,327	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(164,441	)		(311,392	)		(131,187	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(621,860	)		(13,707	)		(117,050	)
Income (loss) for tax return purposes, December 31, 2014	$	(2,138,035	)	$	(807,933	)	$	(707,500	)

F-197

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2015 is reconciled as follows:

	Series 37			Series 38			Series 39
Net income (loss) for financial reporting purposes	$	(157,664	)	$	(120,423	)	$	(112,061	)
Operating limited partnership rents received in advance		5,911			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		196,940			164,400			134,085
Other		564,376			299,285			292,863
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(1,274,223	)		(403,406	)		(503,080	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(173,483	)		(394,067	)		(309,689	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(119,302	)		(82,415	)		(86,424	)
Income (loss) for tax return purposes, December 31, 2014	$	(957,445	)	$	(536,626	)	$	(584,306	)

F-198

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2015 is reconciled as follows:

	Series 40			Series 41			Series 42
Net income (loss) for financial reporting purposes	$	(209,771	)	$	(246,035	)	$	(56,734	)
Operating limited partnership rents received in advance		1,970			-			94
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		200,016			237,564			248,290
Other		346,713			564,224			813,094
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(795,406	)		(556,039	)		(896,588	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(203,812	)		(302,876	)		(285,271	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(111,529	)		(97,417	)		(252,110	)
Income (loss) for tax return purposes, December 31, 2014	$	(771,819	)	$	(400,579	)	$	(429,225	)

F-199

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2015 is reconciled as follows:

	Series 43			Series 44			Series 45
Net income (loss) for financial reporting purposes	$	(634,723	)	$	(359,371	)	$	(1,442,530	)
Operating limited partnership rents received in advance		194			1,663			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		306,780			254,628			283,200
Other		1,366,368			112,456			1,456,407
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(666,281	)		(645,418	)		(673,720	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(338,918	)		(487,779	)		(247,030	)
Impairment loss not recognized for tax purposes		268,187			-			918,818
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(90,385	)		(26,918	)		(277,021	)
Income (loss) for tax return purposes, December 31, 2014	$	211,222		$	(1,150,739	)	$	18,124

F-200

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2015 is reconciled as follows:

	Series 46
Net income (loss) for financial reporting purposes	$	(2,374,424	)
Operating limited partnership rents received in advance		(5,466	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		249,528
Other		136,565
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(315,077	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(453,749	)
Impairment loss not recognized for tax purposes		1,406,624
Operating limited partnership impairment loss not recognized for tax purposes		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(66,699	)
Income (loss) for tax return purposes, December 31, 2014	$	(1,422,698	)

F-201

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2014 is reconciled as follows:

	Total			Series 20			Series 21
Net income (loss) for financial reporting purposes	$	(4,310,963	)	$	606,391		$	3,069
Operating limited partnership rents received in advance		(6,007	)		-			(17	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(3,180,283	)		(539,749	)		(20,070	)
Other		14,775,748			992,434			316,382
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(16,299,042	)		(366,227	)		(98,321	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(6,231,944	)		(74,539	)		(177,554	)
Impairment loss not recognized for tax purposes		7,116,275			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(10,529,310	)		(288,923	)		(83,572	)
Income (loss) for tax return purposes, December 31, 2013	$	(18,665,526	)	$	329,387		$	(60,083	)

F-202

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2014 is reconciled as follows:

	Series 22			Series 23			Series 24
Net income (loss) for financial reporting purposes	$	(98,478	)	$	(125,463	)	$	1,625,695
Operating limited partnership rents received in advance		-			-			2,879
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(26,305	)		71,819			(2,468,363	)
Other		972,788			197,451			1,989,051
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(264,711	)		(361,723	)		(241,279	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(69,076	)		(227,036	)		(30,246	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(136,555	)		(14,194	)		(1,636,274	)
Income (loss) for tax return purposes, December 31, 2013	$	377,663		$	(459,146	)	$	(758,537	)

F-203

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2014 is reconciled as follows:

	Series 25			Series 26			Series 27
Net income (loss) for financial reporting purposes	$	(59,679	)	$	2,736,763		$	2,385,674
Operating limited partnership rents received in advance		-			(449	)		136
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			(499,347	)		(1,559,279	)
Other		593,391			3,879,632			1,619,880
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(43,041	)		(842,204	)		(277,730	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(138,555	)		(214,874	)		(181,302	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(386,563	)		(4,213,369	)		(1,123,176	)
Income (loss) for tax return purposes, December 31, 2013	$	(34,447	)	$	846,152		$	864,203

F-204

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2014 is reconciled as follows:

	Series 28			Series 29			Series 30
Net income (loss) for financial reporting purposes	$	992,304		$	68,179		$	(170,958	)
Operating limited partnership rents received in advance		(50	)		(3,627	)		7,664
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(870,954	)		75,854			155,148
Other		863,713			(2,703,508	)		80,092
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(953,311	)		(1,065,191	)		(621,294	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(222,830	)		(294,360	)		(176,205	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(292,930	)		(308,456	)		(22,236	)
Income (loss) for tax return purposes, December 31, 2013	$	(484,058	)	$	(4,231,109	)	$	(747,789	)

F-205

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2014 is reconciled as follows:

	Series 31			Series 32			Series 33
Net income (loss) for financial reporting purposes	$	337,127		$	(196,777	)	$	(130,088	)
Operating limited partnership rents received in advance		-			(2,419	)		(466	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		279,204			270,411			123,408
Other		(565,343	)		899,882			78,067
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(1,155,732	)		(1,433,129	)		(566,103	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(444,727	)		(208,100	)		(140,906	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(597,142	)		(64,279	)		(28,128	)
Income (loss) for tax return purposes, December 31, 2013	$	(2,146,613	)	$	(734,411	)	$	(664,216	)

F-206

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2014 is reconciled as follows:

	Series 34			Series 35			Series 36
Net income (loss) for financial reporting purposes	$	(37,107	)	$	(25,674	)	$	(121,517	)
Operating limited partnership rents received in advance		(3,831	)		15,521			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		256,596			202,082			(867,520	)
Other		121,042			135,633			4,218,381
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(1,227,938	)		(688,552	)		(489,323	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(177,657	)		(254,172	)		(158,926	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(216,769	)		(256,794	)		(104,445	)
Income (loss) for tax return purposes, December 31, 2013	$	(1,285,664	)	$	(871,956	)	$	2,476,650

F-207

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2014 is reconciled as follows:

	Series 37			Series 38			Series 39
Net income (loss) for financial reporting purposes	$	(187,483	)	$	(103,034	)	$	(135,596	)
Operating limited partnership rents received in advance		(18,883	)		(6,905	)		(6,903	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		204,864			164,400			136,800
Other		1,190,800			358,421			337,442
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(1,423,309	)		(447,771	)		(594,093	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(189,389	)		(396,454	)		(286,803	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(97,290	)		(89,091	)		(103,140	)
Income (loss) for tax return purposes, December 31, 2013	$	(520,690	)	$	(520,434	)	$	(652,293	)

F-208

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2014 is reconciled as follows:

	Series 40			Series 41			Series 42
Net income (loss) for financial reporting purposes	$	(207,935	)	$	(165,403	)	$	(578,220	)
Operating limited partnership rents received in advance		2,625			(702	)		(1,127	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		200,016			185,732			198,700
Other		(20,535	)		175,191			508,920
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(726,480	)		(621,885	)		(792,226	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(202,424	)		(294,646	)		(288,776	)
Impairment loss not recognized for tax purposes		-			-			212,553
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(116,716	)		(230,907	)		(54,300	)
Income (loss) for tax return purposes, December 31, 2013	$	(1,071,449	)	$	(952,620	)	$	(794,476	)

F-209

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2014 is reconciled as follows:

	Series 43			Series 44			Series 45
Net income (loss) for financial reporting purposes	$	(1,582,420	)	$	(2,529,532	)	$	(3,485,593	)
Operating limited partnership rents received in advance		(908	)		2,360			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		306,780			277,353			312,609
Other		65,862			(1,448,171	)		(251,745	)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(547,642	)		(372,037	)		(57,205	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(317,839	)		(341,059	)		(243,079	)
Impairment loss not recognized for tax purposes		972,475			1,696,224			2,293,749
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(99,277	)		183,685			(29,551	)
Income (loss) for tax return purposes, December 31, 2013	$	(1,202,969	)	$	(2,531,177	)	$	(1,460,815	)

F-210

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2014 is reconciled as follows:

	Series 46
Net income (loss) for financial reporting purposes	$	(3,125,208	)
Operating limited partnership rents received in advance		9,095
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		249,528
Other		170,595
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(20,585	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(480,410	)
Impairment loss not recognized for tax purposes		1,941,274
Operating limited partnership impairment loss not recognized for tax purposes		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(118,918	)
Income (loss) for tax return purposes, December 31, 2013	$	(1,374,629	)

F-211

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2015 are as follows:

	Total			Series 20			Series 21
Investments in operating limited partnerships - tax return December 31, 2014	$	55,728,106		$	(1,258,685	)	$	(1,905,152	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		77,225,748			878,598			2,591,698
Impairment loss in investment in operating limited partnerships		(188,464,989	)		(409,509	)		(118,301	)
Historic tax credits - cumulative		978,267			570,617			-
Less share of loss - three months ended March 31, 2015		(755,788	)		(62,488	)		(221,074	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		57,087,374			281,467			(347,171	)
Investments in operating limited partnerships - as reported	$	1,798,718		$	-		$	-

F-212

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2015 are as follows:

	Series 22			Series 23			Series 24
Investments in operating limited partnerships - tax return December 31, 2014	$	(1,832,001	)	$	1,497,353		$	(821,383	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,689,653			1,281,140			1,941,970
Impairment loss in investment in operating limited partnerships		(1,289,080	)		(5,298,843	)		(1,151,381	)
Historic tax credits - cumulative		223,537			-			-
Less share of loss - three months ended March 31, 2015		(15,621	)		(10,974	)		(841	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,223,512			2,531,324			31,635
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-213

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2015 are as follows:

	Series 25			Series 26			Series 27
Investments in operating limited  partnerships - tax return December 31, 2014	$	(60,435	)	$	(5,205,435	)	$	(1,656,389	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		273,564			4,399,020			1,526,506
Impairment loss in investment in operating limited partnerships		(1,345,945	)		(1,883,225	)		(4,004,265	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2015		(31,239	)		(57,289	)		(195,417	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,164,055			2,746,929			4,329,565
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-214

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2015 are as follows:

	Series 28			Series 29			Series 30
Investments in operating limited partnerships - tax return December 31, 2014	$	318,909		$	(914,109	)	$	526,482
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		3,269,083			4,695,617			2,524,000
Impairment loss in investment in operating limited partnerships		(4,790,458	)		(5,661,234	)		(4,610,342	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2015		(64,727	)		(39,537	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,267,193			1,919,263			1,559,860
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-215

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2015 are as follows:

	Series 31			Series 32			Series 33
Investments in operating limited partnerships - tax return December 31, 2014	$	(2,844,166	)	$	4,667,100		$	3,976,255
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		3,913,882			7,152,320			2,003,965
Impairment loss in investment in operating limited partnerships		(9,196,909	)		(13,359,327	)		(7,924,274	)
Historic tax credits - cumulative		-			184,113			-
Less share of loss - three months ended March 31, 2015		(56,581	)		-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		8,183,774			1,355,794			1,944,054
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-216

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2015 are as follows:

	Series 34			Series 35			Series 36
Investments in operating limited partnerships - tax return December 31, 2014	$	1,329,494		$	3,492,380		$	3,631,292
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,231,532			3,920,392			2,224,599
Impairment loss in investment in operating limited partnerships		(8,069,371	)		(9,244,266	)		(7,264,883	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2015		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		4,508,345			1,831,494			1,408,992
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-217

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2015 are as follows:

	Series 37			Series 38			Series 39
Investments in operating limited partnerships - tax return December 31, 2014	$	1,183,098		$	5,783,115		$	4,215,944
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		6,493,889			4,030,703			4,373,718
Impairment loss in investment in operating limited partnerships		(7,792,558	)		(10,557,104	)		(7,444,160	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2015		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		115,571			743,286			(1,145,502	)
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-218

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2015 are as follows:

	Series 40			Series 41			Series 42
Investments in operating limited partnerships - tax return December 31, 2014	$	6,586,470		$	455,172		$	5,161,301
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,158,206			2,647,711			2,985,744
Impairment loss in investment in operating limited partnerships		(10,641,244	)		(7,024,673	)		(10,714,201	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2015		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,896,568			3,921,790			2,567,156
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-219

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2015 are as follows:

	Series 43			Series 44			Series 45
Investments in operating limited partnerships - tax return December 31, 2014	$	7,950,660		$	366,227		$	12,261,848
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		3,046,309			3,768,065			868,202
Impairment loss in investment in operating limited partnerships		(13,508,694	)		(6,482,162	)		(15,650,905	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2015		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		2,511,725			2,347,870			3,358,960
Investments in operating limited partnerships - as reported	$	-		$	-		$	838,105

F-220

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2015 are as follows:

	Series 46
Investments in operating limited partnerships - tax return December 31, 2014	$	8,822,761
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		335,662
Impairment loss in investment in operating limited partnerships		(13,027,675	)
Historic tax credits - cumulative		-
Less share of loss - three months ended March 31, 2015		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Other		4,829,865
Investments in operating limited partnerships - as reported	$	960,613

F-221

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2014 are as follows:

	Total			Series 20			Series 21
Investments in operating limited partnerships - tax return December 31, 2013	$	76,082,802		$	(2,870,528	)	$	(1,734,996	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		87,884,506			3,054,043			2,584,152
Impairment loss in investment in operating limited partnerships		(216,038,394	)		(1,333,677	)		(118,301	)
Historic tax credits - cumulative		978,267			570,617			-
Less share of loss - three months ended March 31, 2014		(1,117,450	)		(90,622	)		(221,074	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		57,538,970			670,167			(509,781	)
Investments in operating limited partnerships - as reported	$	5,328,701		$	-		$	-

F-222

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2014 are as follows:

	Series 22			Series 23			Series 24
Investments in operating limited partnerships - tax return December 31, 2013	$	(2,216,485	)	$	656,490		$	(911,837	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,708,122			2,436,164			2,148,403
Impairment loss in investment in operating limited partnerships		(1,618,823	)		(6,353,837	)		(1,636,215	)
Historic tax credits - cumulative		223,537			-			-
Less share of loss - three months ended March 31, 2014		(25,824	)		(54,934	)		(841	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,929,473			3,316,117			400,490
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-223

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2014 are as follows:

	Series 25			Series 26			Series 27
Investments in operating limited partnerships - tax return December 31, 2013	$	1,280,497		$	(3,510,773	)	$	(1,806,555	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		467,648			5,296,972			1,965,626
Impairment loss in investment in operating limited partnerships		(3,245,521	)		(4,338,427	)		(4,558,902	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2014		(31,239	)		(114,788	)		(204,661	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,528,615			2,667,016			4,604,492
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-224

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2014 are as follows:

	Series 28			Series 29			Series 30
Investments in operating limited partnerships - tax return December 31, 2013	$	8,721,367		$	(3,533,205	)	$	1,088,370
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		4,221,023			7,179,789			3,318,142
Impairment loss in investment in operating limited partnerships		(16,476,882	)		(5,875,856	)		(6,613,997	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2014		(79,180	)		(204,728	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		3,613,672			2,434,000			2,207,485
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-225

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2014 are as follows:

	Series 31			Series 32			Series 33
Investments in operating limited partnerships - tax return December 31, 2013	$	(75,435	)	$	6,429,738		$	4,589,822
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		7,965,109			6,317,426			2,659,844
Impairment loss in investment in operating limited partnerships		(11,182,057	)		(14,763,087	)		(9,162,728	)
Historic tax credits - cumulative		-			184,113			-
Less share of loss - three months ended March 31, 2014		(89,559	)		-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		3,381,942			1,831,810			1,913,062
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-226

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2014 are as follows:

	Series 34			Series 35			Series 36
Investments in operating limited partnerships - tax return December 31, 2013	$	3,558,773		$	4,244,912		$	4,233,303
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		5,821,899			3,511,421			1,659,966
Impairment loss in investment in operating limited partnerships		(10,625,803	)		(11,273,719	)		(7,246,265	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2014		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,245,131			3,517,386			1,352,996
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-227

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2014 are as follows:

	Series 37			Series 38			Series 39
Investments in operating limited partnerships - tax return December 31, 2013	$	2,065,352		$	6,284,314		$	4,738,394
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		6,441,485			3,627,297			3,876,967
Impairment loss in investment in operating limited partnerships		(7,792,558	)		(10,527,541	)		(7,438,510	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2014		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		(714,279	)		615,930			(1,176,851	)
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-228

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2014 are as follows:

	Series 40			Series 41			Series 42
Investments in operating limited partnerships - tax return December 31, 2013	$	7,248,337		$	768,256		$	5,533,010
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,365,798			2,219,955			2,319,513
Impairment loss in investment in operating limited partnerships		(10,639,800	)		(7,005,127	)		(10,428,111	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2014		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		2,025,665			4,016,916			2,575,588
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-229

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2014 are as follows:

	Series 43			Series 44			Series 45
Investments in operating limited partnerships - tax return December 31, 2013	$	7,665,048		$	1,396,639		$	12,010,027
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,380,028			3,122,647			194,482
Impairment loss in investment in operating limited partnerships		(13,050,566	)		(6,453,489	)		(14,657,544	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2014		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		3,183,820			1,934,203			4,457,527
Investments in operating limited partnerships - as reported	$	178,330		$	-		$	2,004,492

F-230

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE E - RECONCILIATION OF FINANCIAL STATEMENT NET INCOME (LOSS) TO TAX RETURN (Continued)

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2014 are as follows:

	Series 46
Investments in operating limited partnerships - tax return December 31, 2013	$	10,229,967
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		20,585
Impairment loss in investment in operating limited partnerships		(11,621,051	)
Historic tax credits - cumulative		-
Less share of loss - three months ended March 31, 2014		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Other		4,516,378
Investments in operating limited partnerships - as reported	$	3,145,879

F-231

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2015 and 2014

NOTE F - CASH EQUIVALENTS

Cash equivalents of $23,664,318and $12,772,584 as of March 31, 2015 and 2014, respectively, include money market accounts with interest rates ranging from 0.10% to 0.35% per annum.

NOTE G - CONCENTRATION OF CREDIT RISK

The Fund maintains its cash and cash equivalent balances in several accounts in various financial institutions. The balances are generally insured by the Federal Deposit Insurance Corporation (FDIC) up to specified limits by each institution. At times, the balances may exceed these insurance limits; however, the Fund has not experienced any losses with respect to its balances in excess of FDIC insurance. Management believes that no significant concentration of credit risk with respect to these cash and cash equivalent balances exists as of March 31, 2015.

NOTE H - SUBSEQUENT EVENTS

Subsequent to March 31, 2015, the Fund has entered into agreements to either sell or transfer its interests in eight operating limited partnerships, all of which closed by June 2015. The sales price and other terms for the disposition of the operating limited partnerships has been determined. The proceeds received for the operating limited partnerships were $3,420,500. The gain on the dispositions of these operating limited partnerships was $3,394,500 and was recognized in the first quarter of the fiscal year ended 2016.

NOTE I - FAIR VALUE OF FINANCIAL INSTRUMENTS

The Fund’s financial instruments relate to notes receivable and accounts payable - affiliates. Management has not disclosed the fair value of these financial instruments because determination of such fair value is deemed to be impractical. The notes receivable and accounts payable - affiliates are due from or owed to affiliates of the Fund. The unique nature of these financial instruments makes determination of any fair value impractical. See notes B and D for disclosure of the carrying amount and terms of these financial instruments.

F-232