INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS

12 Months Ended

Mar. 31, 2017

Investments In Operating Partnerships [Abstract]

Equity Method Investments Disclosure [Text Block]

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS

At March 31, 2017 and 2016, 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, 2017 and 2016 by series are as follows:

	2017		2016
Series 20		3		4
Series 21		2		2
Series 22		3		3
Series 23		4		6
Series 24		6		6
Series 25		4		4
Series 26		13		14
Series 27		5		7
Series 28		5		6
Series 29		8		8
Series 30		8		8
Series 31		10		17
Series 32		7		10
Series 33		5		5
Series 34		4		7
Series 35		3		6
Series 36		3		7
Series 37		2		6
Series 38		4		8
Series 39		1		7
Series 40		10		14
Series 41		17		18
Series 42		15		15
Series 43		19		19
Series 44		7		8
Series 45		27		28
Series 46		14		15
		209		258

During the year ended March 31, 2017 the Fund disposed of forty nine 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, 2017 is as follows.

	Operating Partnership Interest Transferred		Sale of Underlying Operating Partnership		Partnership Proceeds from Disposition		Gain on Disposition
Series 20		-		1	$	138,000	$	138,000
Series 23		2		-		488,550		488,550
Series 26		1		-		18,500		18,500
Series 27		1		1		3,016,000		3,016,000
Series 28		1		-		5,000		5,000
Series 31		7		-		877,411		877,411
Series 32		2		1		569,552		569,552
Series 34		3		-		630,691		630,691
Series 35		1		2		2,720,765		2,720,765
Series 36		3		1		2,515,373		2,515,373
Series 37		3		1		2,349,732		2,349,732
Series 38		1		3		3,273,698		3,273,698
Series 39		4		2		1,645,989		1,645,989
Series 40		4		-		93,700		93,700
Series 41		1		-		70,500		70,500
Series 44		-		1		-		-
Series 45		1		-		-		-
Series 46		-		1		393,183		393,183
Total		35		14	$	18,806,644	$	18,806,644

During the year ended March 31, 2016 the Fund disposed of forty 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, 2016 is as follows.

	Operating Partnership Interest Transferred		Sale of Underlying Operating Partnership		Partnership Proceeds from Disposition *		Gain on Disposition
Series 21		2		-	$	326,273	$	326,273
Series 22		3		-		238,796		248,148
Series 23		3		-		247,429		247,429
Series 24		-		-		96,715		16,675
Series 26		3		-		128,000		59,000
Series 28		5		-		1,405,521		1,405,521
Series 29		1		1		199,000		199,000
Series 30		3		-		324,454		273,454
Series 31		1		1		1,328,188		1,328,188
Series 32		-		1		825,886		825,886
Series 33		1		-		1,097,000		1,097,000
Series 34		2		-		328,000		328,000
Series 35		2		1		1,504,603		1,504,603
Series 36		2		-		571,611		571,611
Series 38		2		-		32,421		32,421
Series 39		2		-		102,774		102,774
Series 40		2		-		790,011		790,011
Series 41		1		-		457,440		457,440
Series 42		5		-		3,254,655		3,214,695
Series 43		4		-		2,492,094		2,492,094
Total		44		4	$	15,750,871	$	15,520,223

* Partnership proceeds from disposition include $80,040, $69,000, $51,000 and $39,960, for Series 24, Series 26, Series 30 and Series 42, respectively, recorded as a receivable as of March 31, 2015. Partnership proceeds from disposition does not include $9,352 which was due to a writeoff of capital contribution payable Series 22.

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, 2017 and 2016, contributions are payable to operating limited partnerships as follows:

	2017		2016
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		8,235		8,235
Series 30		105,139		105,139
Series 31		66,294		66,294
Series 32		1,229		1,229
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		-		-
	$	578,113	$	578,113

 

The Fund’s investments in operating limited partnerships at March 31, 2017 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	$	226,703,371		$	1,140,993		$	524,510
Acquisition costs of operating limited partnerships		9,097,175			162,528			85,843
Cumulative distributions from operating limited partnerships		(1,675,040	)		-			(22,441	)
Cumulative impairment loss in investments in operating limited partnerships		(122,872,037	)		(337,192	)		(38,116	)
Cumulative losses from operating limited partnerships		(111,253,469	)		(966,329	)		(549,796	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Total			Series 20			Series 21
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(1,145,457	)		-			-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(1,902,879	)		-			-
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).		183,255			7,136			15,685
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(57,696,047	)		(1,066,850	)		(325,745	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		357,746			-			-
Cumulative impairment loss in investments in operating limited partnerships		122,872,037			337,192			38,116
Other		(1,455,539	)		(2,935	)		(43,375	)
Equity per operating limited partnerships’ combined financial statements	$	61,213,116		$	(725,457	)	$	(315,319	)

The Fund’s investments in operating limited partnerships at March 31, 2017 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	$	755,045		$	3,303,139		$	2,879,744
Acquisition costs of operating limited partnerships		78,016			482,854			310,375
Cumulative distributions from operating limited partnerships		-			-			(34,932	)
Cumulative impairment loss in investments in operating limited partnerships		(325,787	)		(2,213,351	)		(1,151,381	)
Cumulative losses from operating limited partnerships		(507,274	)		(1,572,642	)		(2,003,806	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 22			Series 23			Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-			-			(30,158	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(39,009	)		(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).		7,927			(5,691	)		841
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(856,165	)		(970,072	)		(2,267,378	)
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		325,787			2,213,351			1,151,381
Other		1,125			(97,940	)		107,836
Equity per operating limited partnerships’ combined financial statements	$	(560,335	)	$	1,111,952		$	(1,122,338	)

The Fund’s investments in operating limited partnerships at March 31, 2017 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		$	5,164,819		$	5,994,660
Acquisition costs of operating limited partnerships		167,460			772,454			813,797
Cumulative distributions from operating limited partnerships		(57,503	)		(30,449	)		(1,096	)
Cumulative impairment loss in investments in operating limited partnerships		(1,430,062	)		(1,350,275	)		(3,487,976	)
Cumulative losses from operating limited partnerships		(118,763	)		(4,556,549	)		(3,319,385	)
Investments in operating limited partnerships per balance sheet		-			-			-

The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-			(51,000	)		-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			(59,837	)		(222,527	)
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			45,732			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(456,606	)		(4,815,872	)		(1,317,831	)
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		1,430,062			1,350,275			3,487,976
Other		(78,352	)		(94,916	)		(84,291	)
Equity per operating limited partnerships’ combined financial statements	$	926,343		$	(3,453,802	)	$	1,863,327

 

The Fund’s investments in operating limited partnerships at March 31, 2017 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	$	2,736,848		$	9,231,659		$	5,493,284
Acquisition costs of operating limited partnerships		388,894			1,333,588			667,262
Cumulative distributions from operating limited partnerships		(5,079	)		(14,324	)		(29,318	)
Cumulative impairment loss in investments in operating limited partnerships		(930,910	)		(5,444,545	)		(2,194,151	)
Cumulative losses from operating limited partnerships		(2,189,753	)		(5,106,378	)		(3,937,077	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 28			Series 29			Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(12,030	)		-			(112,197	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(62,189	)		(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).		33,990			39,537			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,819,446	)		(3,478,199	)		(2,083,473	)
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		930,910			5,444,545			2,194,151
Other		(45,965	)		(30,529	)		(21,265	)
Equity per operating limited partnerships’ combined financial statements	$	(974,730	)	$	1,386,265		$	(257,393	)

The Fund’s investments in operating limited partnerships at March 31, 2017 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	$	5,898,003		$	14,149,131		$	8,367,365
Acquisition costs of operating limited partnerships		826,360			1,645,450			950,957
Cumulative distributions from operating limited partnerships		(31,355	)		(45,614	)		(3,170	)
Cumulative impairment loss in investments in operating limited partnerships		(3,574,025	)		(9,175,569	)		(6,568,884	)
Cumulative losses from operating limited partnerships		(3,118,983	)		(6,573,398	)		(2,746,268	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 31			Series 32			Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(47,462	)		(172,318	)		(179,468	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(77,600	)		-			(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).		6,859			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,188,582	)		(3,395,101	)		(1,876,329	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			29,991			9,684
Cumulative impairment loss in investments in operating limited partnerships		3,574,025			9,175,569			6,568,884
Other		(50,995	)		251,165			(13,716	)
Equity per operating limited partnerships’ combined financial statements	$	216,245		$	5,889,306		$	4,341,862

The Fund’s investments in operating limited partnerships at March 31, 2017 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	$	6,257,458		$	5,386,247		$	4,276,900
Acquisition costs of operating limited partnerships		411,337			-			-
Cumulative distributions from operating limited partnerships		(20,308	)		(2,459	)		(27,291	)
Cumulative impairment loss in investments in operating limited partnerships		(3,951,725	)		(2,462,259	)		(2,406,542	)
Cumulative losses from operating limited partnerships		(2,696,762	)		(2,921,529	)		(1,843,067	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 34			Series 35			Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-			-			-
The Fund has recorded acquisition costs at March 31, 2017 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).		(1,354,867	)		(2,237,121	)		(984,727	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			3,300			-
Cumulative impairment loss in investments in operating limited partnerships		3,951,725			2,462,259			2,406,542
Other		(139,920	)		2,467			(33,040	)
Equity per operating limited partnerships’ combined financial statements	$	2,168,388		$	230,905		$	1,388,775

The Fund’s investments in operating limited partnerships at March 31, 2017 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	$	7,549,550		$	9,815,140		$	671,150
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(65,908	)		(359,635	)		-
Cumulative impairment loss in investments in operating limited partnerships		(3,922,795	)		(7,194,962	)		(233,531	)
Cumulative losses from operating limited partnerships		(3,560,847	)		(2,260,543	)		(437,619	)
Investments in operating limited partnerships per balance sheet		-			-			-

 

	Series 37			Series 38			Series 39
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(155,365	)		-			-
The Fund has recorded acquisition costs at March 31, 2017 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).		(1,916,369	)		(866,648	)		(97,796	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		13,201			-			-
Cumulative impairment loss in investments in operating limited partnerships		3,922,795			7,194,962			233,531
Other		(12,299	)		(233,707	)		(72,294	)
Equity per operating limited partnerships’ combined financial statements	$	1,851,963		$	6,094,607		$	63,441

The Fund’s investments in operating limited partnerships at March 31, 2017 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	$	11,579,898		$	15,436,181		$	16,067,004
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(22,466	)		(38,570	)		(20,956	)
Cumulative impairment loss in investments in operating limited partnerships		(5,441,719	)		(5,854,800	)		(7,195,970	)
Cumulative losses from operating limited partnerships		(6,115,713	)		(9,542,811	)		(8,850,078	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 40			Series 41			Series 42
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(16,841	)		(33,807	)		(76,678	)
The Fund has recorded acquisition costs at March 31, 2017 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).		(2,230,853	)		(3,483,277	)		(4,285,267	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		32,119			-			20,012
Cumulative impairment loss in investments in operating limited partnerships		5,441,719			5,854,800			7,195,970
Other		(72,329	)		(325,495	)		(21,834	)
Equity per operating limited partnerships’ combined financial statements	$	3,153,815		$	2,012,221		$	2,832,203

The Fund’s investments in operating limited partnerships at March 31, 2017 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	$	23,300,481		$	13,739,925		$	25,600,776
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(271,984	)		(49,115	)		(320,688	)
Cumulative impairment loss in investments in operating limited partnerships		(11,001,252	)		(5,442,013	)		(16,541,124	)
Cumulative losses from operating limited partnerships		(12,027,245	)		(8,248,797	)		(8,738,964	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 43			Series 44			Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(121,319	)		-			(129,725	)
The Fund has recorded acquisition costs at March 31, 2017 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).		(4,434,039	)		(4,416,600	)		(2,226,331	)
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		11,001,252			5,442,013			16,541,124
Other		(50,452	)		(90,418	)		(164,622	)
Equity per operating limited partnerships’ combined financial statements	$	6,395,442		$	934,995		$	14,043,755

The Fund’s investments in operating limited partnerships at March 31, 2017 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	$	19,944,593
Acquisition costs of operating limited partnerships		-
Cumulative distributions from operating limited partnerships		(200,379	)
Cumulative impairment loss in investments in operating limited partnerships		(13,001,121	)
Cumulative losses from operating limited partnerships		(6,743,093	)
Investments in operating limited partnerships per balance sheet		-

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(7,089	)
The Fund has recorded acquisition costs at March 31, 2017 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).		(1,244,503	)
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		13,001,121
Other		(37,443	)
Equity per operating limited partnerships’ combined financial statements	$	11,716,680

The Fund’s investments in operating limited partnerships at March 31, 2016 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	$	303,772,168		$	1,510,993		$	524,510
Acquisition costs of operating limited partnerships		12,667,316			215,748			85,843
Cumulative distributions from operating limited partnerships		(2,477,305	)		(7,394	)		(22,441	)
Cumulative impairment loss in investments in operating limited partnerships		(161,650,983	)		(409,509	)		(38,116	)
Cumulative losses from operating limited partnerships		(152,311,196	)		(1,309,838	)		(549,796	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Total			Series 20			Series 21
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2016 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2015 (see note A).		(1,202,653	)		-			-
The Fund has recorded acquisition costs at March 31, 2016 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(3,413,891	)		-			-
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).		447,007			62,488			15,685
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(72,745,706	)		(988,006	)		(307,183	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		884,505			6,576			-
Cumulative impairment loss in investments in operating limited partnerships		161,650,983			409,509			38,116
Other		(1,837,057	)		(11,516	)		(42,053	)
Equity per operating limited partnerships’ combined financial statements	$	83,783,188		$	(520,949	)	$	(295,435	)

The Fund’s investments in operating limited partnerships at March 31, 2016 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	$	755,045		$	4,968,423		$	2,879,744
Acquisition costs of operating limited partnerships		78,016			727,246			310,375
Cumulative distributions from operating limited partnerships		-			-			(34,932	)
Cumulative impairment loss in investments in operating limited partnerships		(325,787	)		(4,061,633	)		(1,151,381	)
Cumulative losses from operating limited partnerships		(507,274	)		(1,634,036	)		(2,003,806	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 22			Series 23			Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2016 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2015 (see note A).		-			(11,581	)		(30,158	)
The Fund has recorded acquisition costs at March 31, 2016 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(39,009	)		(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).		7,927			7,292			841
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(866,909	)		(1,241,388	)		(2,084,698	)
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		325,787			4,061,633			1,151,381
Other		1,125			(133,388	)		115,558
Equity per operating limited partnerships’ combined financial statements	$	(571,079	)	$	2,654,872		$	(931,936	)

The Fund’s investments in operating limited partnerships at March 31, 2016 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		$	5,527,557		$	8,111,853
Acquisition costs of operating limited partnerships		167,460			824,628			1,143,307
Cumulative distributions from operating limited partnerships		(57,503	)		(40,236	)		(14,167	)
Cumulative impairment loss in investments in operating limited partnerships		(1,359,466	)		(1,822,975	)		(4,036,605	)
Cumulative losses from operating limited partnerships		(189,359	)		(4,488,974	)		(5,204,388	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 25			Series 26			Series 27
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2016 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2015 (see note A).		-			(51,000	)		(39,446	)
The Fund has recorded acquisition costs at March 31, 2016 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			45,732			195,417
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(343,851	)		(4,331,079	)		(1,587,855	)
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		1,359,466			1,822,975			4,036,605
Other		(67,544	)		(115,347	)		(291,605	)
Equity per operating limited partnerships’ combined financial statements	$	979,310		$	(2,516,740	)	$	1,863,912

The Fund’s investments in operating limited partnerships at March 31, 2016 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	$	5,944,962		$	9,231,659		$	5,493,284
Acquisition costs of operating limited partnerships		850,335			1,333,588			667,262
Cumulative distributions from operating limited partnerships		(110,655	)		(14,324	)		(29,318	)
Cumulative impairment loss in investments in operating limited partnerships		(2,158,606	)		(5,444,545	)		(2,194,151	)
Cumulative losses from operating limited partnerships		(4,526,036	)		(5,106,378	)		(3,937,077	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 28			Series 29			Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2016 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2015 (see note A).		(12,030	)		-			(112,197	)
The Fund has recorded acquisition costs at March 31, 2016 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(62,189	)		(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).		33,990			39,537			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,842,764	)		(2,951,824	)		(1,907,676	)
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		2,158,606			5,444,545			2,194,151
Other		(90,515	)		(30,530	)		(18,522	)
Equity per operating limited partnerships’ combined financial statements	$	(814,902	)	$	1,912,639		$	(78,853	)

The Fund’s investments in operating limited partnerships at March 31, 2016 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	$	11,532,547		$	22,949,966		$	8,367,365
Acquisition costs of operating limited partnerships		1,632,942			2,929,785			950,957
Cumulative distributions from operating limited partnerships		(31,404	)		(101,208	)		(3,170	)
Cumulative impairment loss in investments in operating limited partnerships		(6,454,920	)		(13,361,331	)		(6,467,715	)
Cumulative losses from operating limited partnerships		(6,679,165	)		(12,417,212	)		(2,847,437	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 31			Series 32			Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2016 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2015 (see note A).		(47,462	)		(172,318	)		(179,468	)
The Fund has recorded acquisition costs at March 31, 2016 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).		6,859			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(4,016,452	)		(4,963,274	)		(1,578,487	)
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		6,454,920			13,361,331			6,467,715
Other		(36,552	)		284,785			(13,716	)
Equity per operating limited partnerships’ combined financial statements	$	2,292,214		$	7,264,546		$	4,538,535

The Fund’s investments in operating limited partnerships at March 31, 2016 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	$	11,227,571		$	10,781,284		$	12,307,640
Acquisition costs of operating limited partnerships		749,824			-			-
Cumulative distributions from operating limited partnerships		(20,308	)		(5,084	)		(100,055	)
Cumulative impairment loss in investments in operating limited partnerships		(6,843,156	)		(5,230,309	)		(6,862,772	)
Cumulative losses from operating limited partnerships		(5,113,931	)		(5,545,891	)		(5,344,813	)
Investments in operating limited partnerships per balance sheet		-			-			-

 

	Series 34			Series 35			Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2016 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2015 (see note A).		(6,069	)		-			-
The Fund has recorded acquisition costs at March 31, 2016 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).		(1,642,674	)		(3,423,568	)		(2,019,997	)
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		6,843,156			5,230,309			6,862,772
Other		(194,626	)		(24,491	)		(126,915	)
Equity per operating limited partnerships’ combined financial statements	$	4,711,237		$	1,860,267		$	4,717,230

The Fund’s investments in operating limited partnerships at March 31, 2016 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	$	16,058,621		$	17,940,834		$	10,069,655
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(202,524	)		(515,435	)		(224,758	)
Cumulative impairment loss in investments in operating limited partnerships		(7,809,397	)		(10,253,381	)		(4,561,508	)
Cumulative losses from operating limited partnerships		(8,046,700	)		(7,172,018	)		(5,283,389	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 37			Series 38			Series 39
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2016 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2015 (see note A).		(155,365	)		-			-
The Fund has recorded acquisition costs at March 31, 2016 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).		(7,434,593	)		(4,229,837	)		(3,894,615	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		289,911			59,461			74,689
Cumulative impairment loss in investments in operating limited partnerships		7,809,397			10,253,381			4,561,508
Other		(109,071	)		(209,729	)		(106,547	)
Equity per operating limited partnerships’ combined financial statements	$	400,279		$	5,873,276		$	635,035

The Fund’s investments in operating limited partnerships at March 31, 2016 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	$	16,293,231		$	16,713,252		$	16,067,004
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(25,813	)		(50,099	)		(20,956	)
Cumulative impairment loss in investments in operating limited partnerships		(9,078,021	)		(6,847,483	)		(7,195,970	)
Cumulative losses from operating limited partnerships		(7,189,397	)		(9,815,670	)		(8,850,078	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 40			Series 41			Series 42
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2016 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2015 (see note A).		(16,841	)		(33,807	)		(76,678	)
The Fund has recorded acquisition costs at March 31, 2016 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).		(2,222,136	)		(3,234,895	)		(3,747,535	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		47,439			1,049			20,012
Cumulative impairment loss in investments in operating limited partnerships		9,078,021			6,847,483			7,195,970
Other		(111,940	)		(294,216	)		(17,777	)
Equity per operating limited partnerships’ combined financial statements	$	6,774,543		$	3,285,614		$	3,373,992

The Fund’s investments in operating limited partnerships at March 31, 2016 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	$	23,300,481		$	15,745,838		$	25,706,915
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(271,984	)		(49,763	)		(320,692	)
Cumulative impairment loss in investments in operating limited partnerships		(10,917,292	)		(6,523,727	)		(16,411,048	)
Cumulative losses from operating limited partnerships		(12,111,205	)		(9,172,348	)		(8,975,175	)
Investments in operating limited partnerships per balance sheet		-			-			-

	Series 43			Series 44			Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2016 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2015 (see note A).		(121,319	)		-			(129,725	)
The Fund has recorded acquisition costs at March 31, 2016 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).		(3,960,406	)		(4,381,035	)		(1,542,238	)
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		10,917,292			6,523,727			16,411,048
Other		(21,080	)		(64,791	)		(103,424	)
Equity per operating limited partnerships’ combined financial statements	$	6,814,487		$	2,077,901		$	14,658,970

The Fund’s investments in operating limited partnerships at March 31, 2016 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		(203,082	)
Cumulative impairment loss in investments in operating limited partnerships		(13,830,179	)
Cumulative losses from operating limited partnerships		(8,289,805	)
Investments in operating limited partnerships per balance sheet		-

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2016 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2015 (see note A).		(7,189	)
The Fund has recorded acquisition costs at March 31, 2016 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).		(1,000,731	)
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		13,830,179
Other		(2,630	)
Equity per operating limited partnerships’ combined financial statements	$	12,824,223

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS

	Total		Series 20			Series 21
ASSETS
Buildings and improvements, net of accumulated depreciation	$	394,212,193	$	2,085,075		$	1,489,227
Land		41,747,860		246,238			183,210
Other assets		49,639,300		582,694			366,699
	$	485,599,353	$	2,914,007		$	2,039,136
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	348,577,513	$	3,200,912		$	2,297,325
Accounts payable and accrued expenses		16,107,662		75,817			22,623
Other liabilities		40,891,893		50,451			40,020
		405,577,068		3,327,180			2,359,968
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		61,213,116		(725,457	)		(315,319	)
Other partners		18,809,169		312,284			(5,513	)
		80,022,285		(413,173	)		(320,832	)
	$	485,599,353	$	2,914,007		$	2,039,136

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 22			Series 23			Series 24
ASSETS
Buildings and improvements, net of accumulated depreciation	$	1,945,141		$	4,805,126		$	3,402,825
Land		426,603			522,075			636,838
Other assets		1,013,637			1,248,448			644,794
	$	3,385,381		$	6,575,649		$	4,684,457
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,834,362		$	4,961,827		$	5,238,205
Accounts payable and accrued expenses		88,761			157,317			118,124
Other liabilities		65,589			820,842			411,627
		3,988,712			5,939,986			5,767,956
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(560,335	)		1,111,952			(1,122,338	)
Other partners		(42,996	)		(476,289	)		38,839
		(603,331	)		635,663			(1,083,499	)
	$	3,385,381		$	6,575,649		$	4,684,457

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 25			Series 26			Series 27
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,013,338		$	7,274,962		$	12,049,493
Land		203,400			620,110			1,360,969
Other assets		919,878			1,105,294			1,862,638
	$	4,136,616		$	9,000,366		$	15,273,100
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,290,404		$	10,309,719		$	9,390,191
Accounts payable and accrued expenses		62,955			1,437,631			346,277
Other liabilities		31,649			1,110,272			2,149,189
		3,385,008			12,857,622			11,885,657
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		926,343			(3,453,802	)		1,863,327
Other partners		(174,735	)		(403,454	)		1,524,116
		751,608			(3,857,256	)		3,387,443
	$	4,136,616		$	9,000,366		$	15,273,100

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 28			Series 29		Series 30
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,949,712		$	9,381,511	$	6,657,707
Land		251,300			694,245		415,348
Other assets		445,890			2,959,653		831,281
	$	4,646,902		$	13,035,409	$	7,904,336
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	4,563,975		$	6,879,017	$	7,235,178
Accounts payable and accrued expenses		177,233			1,061,966		337,340
Other liabilities		1,022,213			3,393,759		699,680
		5,763,421			11,334,742		8,272,198
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(974,730	)		1,386,265		(257,393	)
Other partners		(141,789	)		314,402		(110,469	)
		(1,116,519	)		1,700,667		(367,862	)
	$	4,646,902		$	13,035,409	$	7,904,336

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 31			Series 32		Series 33
ASSETS
Buildings and improvements, net of accumulated depreciation	$	8,072,673		$	14,247,643	$	14,983,903
Land		725,013			1,185,852		1,328,537
Other assets		1,458,129			1,880,115		1,256,727
	$	10,255,815		$	17,313,610	$	17,569,167
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	9,530,208		$	7,147,321	$	6,828,064
Accounts payable and accrued expenses		534,648			1,213,357		623,125
Other liabilities		340,754			876,272		897,122
		10,405,610			9,236,950		8,348,311
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		216,245			5,889,306		4,341,862
Other partners		(366,040	)		2,187,354		4,878,994
		(149,795	)		8,076,660		9,220,856
	$	10,255,815		$	17,313,610	$	17,569,167

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 34			Series 35			Series 36
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,939,111		$	6,496,199		$	5,418,554
Land		230,576			671,988			655,300
Other assets		1,074,019			808,787			684,276
	$	6,243,706		$	7,976,974		$	6,758,130
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,273,740		$	5,448,834		$	3,488,113
Accounts payable and accrued expenses		222,965			179,364			676,964
Other liabilities		818,633			2,602,051			311,735
		4,315,338			8,230,249			4,476,812
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,168,388			230,905			1,388,775
Other partners		(240,020	)		(484,180	)		892,543
		1,928,368			(253,275	)		2,281,318
	$	6,243,706		$	7,976,974		$	6,758,130

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 37			Series 38			Series 39
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,913,034		$	7,584,676		$	704,469
Land		300,501			670,346			50,000
Other assets		379,600			989,351			36,912
	$	5,593,135		$	9,244,373		$	791,381
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	2,708,987		$	4,509,814		$	705,510
Accounts payable and accrued expenses		539,389			185,976			9,232
Other liabilities		599,151			544,697			23,287
		3,847,527			5,240,487			738,029
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,851,963			6,094,607			63,441
Other partners		(106,355	)		(2,090,721	)		(10,089	)
		1,745,608			4,003,886			53,352
	$	5,593,135		$	9,244,373		$	791,381

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 40		Series 41		Series 42
ASSETS
Buildings and improvements, net of accumulated depreciation	$	34,036,000	$	52,194,620	$	38,829,717
Land		3,816,175		7,423,381		5,877,411
Other assets		2,777,597		5,236,886		4,108,842
	$	40,629,772	$	64,854,887	$	48,815,970
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	32,191,614	$	53,514,163	$	34,987,875
Accounts payable and accrued expenses		1,056,318		1,675,342		2,490,974
Other liabilities		1,710,051		2,686,207		3,815,676
		34,957,983		57,875,712		41,294,525
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		3,153,815		2,012,221		2,832,203
Other partners		2,517,974		4,966,954		4,689,242
		5,671,789		6,979,175		7,521,445
	$	40,629,772	$	64,854,887	$	48,815,970

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 43		Series 44			Series 45
ASSETS
Buildings and improvements, net of accumulated depreciation	$	41,562,908	$	31,835,019		$	41,406,048
Land		4,306,232		3,008,317			3,989,836
Other assets		3,973,680		3,488,635			6,245,976
	$	49,842,820	$	38,331,971		$	51,641,860
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	36,674,057	$	36,988,184		$	29,953,961
Accounts payable and accrued expenses		1,350,023		318,124			815,588
Other liabilities		4,916,891		5,494,147			2,853,533
		42,940,971		42,800,455			33,623,082
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		6,395,442		934,995			14,043,755
Other partners		506,407		(5,403,479	)		3,975,023
		6,901,849		(4,468,484	)		18,018,778
	$	49,842,820	$	38,331,971		$	51,641,860

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 46
ASSETS
Buildings and improvements, net of accumulated depreciation	$	30,933,502
Land		1,948,059
Other assets		3,258,862
	$	36,140,423
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	19,425,953
Accounts payable and accrued expenses		330,229
Other liabilities		2,606,395
		22,362,577
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		11,716,680
Other partners		2,061,166
		13,777,846
	$	36,140,423

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS

	Total		Series 20			Series 21
ASSETS
Buildings and improvements, net of accumulated depreciation	$	529,415,678	$	3,332,620		$	1,572,107
Land		53,226,657		310,538			183,210
Other assets		66,317,024		1,186,975			331,854
	$	648,959,359	$	4,830,133		$	2,087,171
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	457,774,123	$	4,827,573		$	2,329,701
Accounts payable and accrued expenses		23,355,176		110,814			10,649
Other liabilities		66,468,250		59,330			38,458
		547,597,549		4,997,717			2,378,808
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		83,783,188		(520,949	)		(295,435	)
Other partners		17,578,622		353,365			3,798
		101,361,810		(167,584	)		(291,637	)
	$	648,959,359	$	4,830,133		$	2,087,171

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 22			Series 23			Series 24
ASSETS
Buildings and improvements, net of accumulated depreciation	$	2,058,605		$	8,270,196		$	3,627,508
Land		426,603			911,443			636,838
Other assets		1,074,777			3,582,210			653,001
	$	3,559,985		$	12,763,849		$	4,917,347
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,876,441		$	7,344,377		$	5,325,953
Accounts payable and accrued expenses		100,050			347,926			114,929
Other liabilities		69,420			4,908,882			327,523
		4,045,911			12,601,185			5,768,405
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(571,079	)		2,654,872			(931,936	)
Other partners		85,153			(2,492,208	)		80,878
		(485,926	)		162,664			(851,058	)
	$	3,559,985		$	12,763,849		$	4,917,347

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 25			Series 26			Series 27
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,131,767		$	8,657,081		$	17,241,309
Land		203,400			680,110			2,571,668
Other assets		933,501			1,418,158			2,384,013
	$	4,268,668		$	10,755,349		$	22,196,990
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,346,127		$	11,360,063		$	15,287,429
Accounts payable and accrued expenses		70,325			1,389,206			508,324
Other liabilities		26,620			1,058,361			2,746,562
		3,443,072			13,807,630			18,542,315
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		979,310			(2,516,740	)		1,863,912
Other partners		(153,714	)		(535,541	)		1,790,763
		825,596			(3,052,281	)		3,654,675
	$	4,268,668		$	10,755,349		$	22,196,990

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 28			Series 29		Series 30
ASSETS
Buildings and improvements, net of accumulated depreciation	$	7,014,398		$	9,835,315	$	7,036,190
Land		266,222			694,245		415,348
Other assets		744,475			1,439,626		725,493
	$	8,025,095		$	11,969,186	$	8,177,031
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	8,538,924		$	7,052,254	$	7,370,572
Accounts payable and accrued expenses		328,623			966,993		310,357
Other liabilities		936,630			1,675,171		666,265
		9,804,177			9,694,418		8,347,194
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(814,902	)		1,912,639		(78,853	)
Other partners		(964,180	)		362,129		(91,310	)
		(1,779,082	)		2,274,768		(170,163	)
	$	8,025,095		$	11,969,186	$	8,177,031

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 31		Series 32		Series 33
ASSETS
Buildings and improvements, net of accumulated depreciation	$	16,497,019	$	20,224,966	$	15,649,517
Land		1,102,473		1,360,852		1,328,537
Other assets		2,515,292		2,411,015		1,467,582
	$	20,114,784	$	23,996,833	$	18,445,636
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	16,249,514	$	10,787,090	$	7,137,297
Accounts payable and accrued expenses		661,063		2,769,726		671,157
Other liabilities		568,549		1,094,844		894,554
		17,479,126		14,651,660		8,703,008
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,292,214		7,264,546		4,538,535
Other partners		343,444		2,080,627		5,204,093
		2,635,658		9,345,173		9,742,628
	$	20,114,784	$	23,996,833	$	18,445,636

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 34		Series 35		Series 36
ASSETS
Buildings and improvements, net of accumulated depreciation	$	10,453,950	$	20,625,675	$	17,723,639
Land		1,133,280		2,695,102		1,833,180
Other assets		1,991,614		2,613,971		2,466,948
	$	13,578,844	$	25,934,748	$	22,023,767
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	7,233,483	$	15,676,104	$	12,638,012
Accounts payable and accrued expenses		254,244		399,861		1,971,020
Other liabilities		1,250,258		6,129,396		502,961
		8,737,985		22,205,361		15,111,993
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		4,711,237		1,860,267		4,717,230
Other partners		129,622		1,869,120		2,194,544
		4,840,859		3,729,387		6,911,774
	$	13,578,844	$	25,934,748	$	22,023,767

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 37			Series 38			Series 39
ASSETS
Buildings and improvements, net of accumulated depreciation	$	21,832,900		$	17,129,023		$	10,554,350
Land		1,625,738			1,519,206			1,061,888
Other assets		2,111,926			1,991,354			1,179,735
	$	25,570,564		$	20,639,583		$	12,795,973
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	17,549,703		$	13,819,417		$	10,114,858
Accounts payable and accrued expenses		2,360,796			250,053			222,241
Other liabilities		6,332,846			2,874,467			2,335,993
		26,243,345			16,943,937			12,673,092
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		400,279			5,873,276			635,035
Other partners		(1,073,060	)		(2,177,630	)		(512,154	)
		(672,781	)		3,695,646			122,881
	$	25,570,564		$	20,639,583		$	12,795,973

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 40			Series 41		Series 42
ASSETS
Buildings and improvements, net of accumulated depreciation	$	44,047,875		$	56,126,204	$	40,671,186
Land		4,690,941			7,583,381		5,877,411
Other assets		3,736,506			6,160,084		4,492,349
	$	52,475,322		$	69,869,669	$	51,040,946
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	39,778,652		$	55,916,451	$	36,161,415
Accounts payable and accrued expenses		1,618,018			1,636,364		2,534,425
Other liabilities		4,687,420			3,729,671		3,819,627
		46,084,090			61,282,486		42,515,467
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		6,774,543			3,285,614		3,373,992
Other partners		(383,311	)		5,301,569		5,151,487
		6,391,232			8,587,183		8,525,479
	$	52,475,322		$	69,869,669	$	51,040,946

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 43		Series 44			Series 45
ASSETS
Buildings and improvements, net of accumulated depreciation	$	43,756,712	$	36,930,412		$	47,639,086
Land		4,306,232		3,130,916			4,314,836
Other assets		4,165,140		4,122,248			6,771,223
	$	52,228,084	$	44,183,576		$	58,725,145
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	37,823,234	$	40,047,937		$	36,009,724
Accounts payable and accrued expenses		1,260,622		679,030			1,383,333
Other liabilities		4,929,604		6,225,735			5,238,485
		44,013,460		46,952,702			42,631,542
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		6,814,487		2,077,901			14,658,970
Other partners		1,400,137		(4,847,027	)		1,434,633
		8,214,624		(2,769,126	)		16,093,603
	$	52,228,084	$	44,183,576		$	58,725,145

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 46
ASSETS
Buildings and improvements, net of accumulated depreciation	$	37,776,068
Land		2,363,059
Other assets		3,645,954
	$	43,785,081
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	24,171,818
Accounts payable and accrued expenses		425,027
Other liabilities		3,340,618
		27,937,463
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		12,824,223
Other partners		3,023,395
		15,847,618
	$	43,785,081

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Total			Series 20			Series 21
Revenue
Rent	$	85,755,446		$	889,757		$	493,555
Interest and other		2,943,930			51,176			3,440
		88,699,376			940,933			496,995
Expenses
Interest		17,012,370			67,782			39,664
Depreciation and amortization		22,495,020			257,685			82,880
Taxes and insurance		10,332,106			96,986			68,302
Repairs and maintenance		19,174,823			304,750			129,182
Operating expenses		29,285,986			360,239			195,717
Impairment loss		-			-			-
Other expenses		1,936,798			14,439			-
		100,237,103			1,101,881			515,745
NET INCOME (LOSS)	$	(11,537,727	)	$	(160,948	)	$	(18,750	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(8,901,790	)	$	(106,474	)	$	(39,102	)
Net income (loss) allocated to other partners	$	(2,635,937	)	$	(54,474	)	$	20,352

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 22			Series 23			Series 24
Revenue
Rent	$	780,062		$	1,426,787		$	1,218,703
Interest and other		36,302			112,584			28,210
		816,364			1,539,371			1,246,913
Expenses
Interest		70,347			117,886			127,601
Depreciation and amortization		166,222			286,650			361,276
Taxes and insurance		110,615			155,346			117,868
Repairs and maintenance		289,406			284,376			357,522
Operating expenses		283,947			864,097			486,157
Impairment loss		-			-			-
Other expenses		13,232			14,212			11,156
		933,769			1,722,567			1,461,580
NET INCOME (LOSS)	$	(117,405	)	$	(183,196	)	$	(214,667	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(45,959	)	$	(159,714	)	$	(185,148	)
Net income (loss) allocated to other partners	$	(71,446	)	$	(23,482	)	$	(29,519	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 25			Series 26			Series 27
Revenue
Rent	$	857,567		$	2,172,933		$	3,174,381
Interest and other		20,950			57,555			25,493
		878,517			2,230,488			3,199,874
Expenses
Interest		80,735			306,650			509,261
Depreciation and amortization		176,707			572,435			661,245
Taxes and insurance		92,956			296,029			366,487
Repairs and maintenance		188,389			687,453			605,819
Operating expenses		368,878			850,626			974,005
Impairment loss		-			-			-
Other expenses		8,814			15,500			38,677
		916,479			2,728,693			3,155,494
NET INCOME (LOSS)	$	(37,962	)	$	(498,205	)	$	44,380
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(112,755	)	$	(500,992	)	$	(164,034	)
Net income (loss) allocated to other partners	$	74,793		$	2,787		$	208,414

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 28			Series 29			Series 30
Revenue
Rent	$	1,002,280		$	1,870,776		$	1,509,820
Interest and other		25,270			170,891			38,014
		1,027,550			2,041,667			1,547,834
Expenses
Interest		163,031			417,247			157,690
Depreciation and amortization		225,777			541,192			405,826
Taxes and insurance		132,749			269,958			197,172
Repairs and maintenance		213,513			457,333			335,232
Operating expenses		437,570			909,738			625,657
Impairment loss		-			-			-
Other expenses		-			20,300			9,527
		1,172,640			2,615,768			1,731,104
NET INCOME (LOSS)	$	(145,090	)	$	(574,101	)	$	(183,270	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(198,898	)	$	(531,118	)	$	(187,074	)
Net income (loss) allocated to other partners	$	53,808		$	(42,983	)	$	3,804

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 31			Series 32			Series 33
Revenue
Rent	$	1,706,240		$	2,847,292		$	2,625,326
Interest and other		48,995			86,930			86,895
		1,755,235			2,934,222			2,712,221
Expenses
Interest		168,268			468,653			441,719
Depreciation and amortization		573,233			816,277			707,952
Taxes and insurance		288,339			348,890			335,238
Repairs and maintenance		284,817			745,036			623,753
Operating expenses		935,094			929,535			990,872
Impairment loss		-			-			-
Other expenses		6,013			220,748			110,459
		2,255,764			3,529,139			3,209,993
NET INCOME (LOSS)	$	(500,529	)	$	(594,917	)	$	(497,772	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(497,487	)	$	(529,907	)	$	(297,842	)
Net income (loss) allocated to other partners	$	(3,042	)	$	(65,010	)	$	(199,930	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 34			Series 35			Series 36
Revenue
Rent	$	971,745		$	1,806,433		$	1,365,067
Interest and other		35,012			69,612			90,846
		1,006,757			1,876,045			1,455,913
Expenses
Interest		104,262			290,660			257,096
Depreciation and amortization		275,627			485,344			400,786
Taxes and insurance		141,495			203,459			252,292
Repairs and maintenance		286,631			260,199			277,928
Operating expenses		326,343			620,343			434,010
Impairment loss		-			-			-
Other expenses		-			25,200			33,541
		1,134,358			1,885,205			1,655,653
NET INCOME (LOSS)	$	(127,601	)	$	(9,160	)	$	(199,740	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(136,875	)	$	(40,749	)	$	(131,250	)
Net income (loss) allocated to other partners	$	9,274		$	31,589		$	(68,490	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 37			Series 38			Series 39
Revenue
Rent	$	1,039,639		$	1,774,853		$	168,432
Interest and other		102,567			21,673			-
		1,142,206			1,796,526			168,432
Expenses
Interest		160,035			247,122			6,237
Depreciation and amortization		358,716			372,627			29,091
Taxes and insurance		201,945			214,991			15,558
Repairs and maintenance		193,056			414,817			60,340
Operating expenses		402,404			633,207			70,601
Impairment loss		-			-			-
Other expenses		23,041			18,000			-
		1,339,197			1,900,764			181,827
NET INCOME (LOSS)	$	(196,991	)	$	(104,238	)	$	(13,395	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(141,806	)	$	(144,427	)	$	(13,393	)
Net income (loss) allocated to other partners	$	(55,185	)	$	40,189		$	(2	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 40			Series 41			Series 42
Revenue
Rent	$	7,913,892		$	12,012,632		$	7,743,859
Interest and other		203,429			279,982			260,401
		8,117,321			12,292,614			8,004,260
Expenses
Interest		2,291,713			3,221,005			1,812,102
Depreciation and amortization		1,873,123			2,810,380			2,129,667
Taxes and insurance		1,045,058			1,452,787			865,086
Repairs and maintenance		1,488,255			2,489,498			1,833,446
Operating expenses		1,783,214			3,034,020			2,567,479
Impairment loss		-			-			-
Other expenses		296,558			340,154			297,284
		8,777,921			13,347,844			9,505,064
NET INCOME (LOSS)	$	(660,600	)	$	(1,055,230	)	$	(1,500,804	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(695,283	)	$	(535,125	)	$	(678,898	)
Net income (loss) allocated to other partners	$	34,683		$	(520,105	)	$	(821,906	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 43			Series 44			Series 45
Revenue
Rent	$	7,766,042		$	7,687,702		$	8,007,329
Interest and other		468,895			327,166			178,014
		8,234,937			8,014,868			8,185,343
Expenses
Interest		1,506,832			1,873,630			1,104,605
Depreciation and amortization		2,528,048			1,868,001			2,250,286
Taxes and insurance		817,994			554,655			948,985
Repairs and maintenance		1,962,505			1,516,605			1,937,661
Operating expenses		3,247,142			2,660,711			2,758,102
Impairment loss		-			-			-
Other expenses		69,965			97,607			214,186
		10,132,486			8,571,209			9,213,825
NET INCOME (LOSS)	$	(1,897,549	)	$	(556,341	)	$	(1,028,482	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(749,824	)	$	(596,043	)	$	(915,282	)
Net income (loss) allocated to other partners	$	(1,147,725	)	$	39,702		$	(113,200	)

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2016 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2016 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 46
Revenue
Rent	$	4,922,342
Interest and other		113,628
		5,035,970
Expenses
Interest		1,000,537
Depreciation and amortization		1,277,967
Taxes and insurance		740,866
Repairs and maintenance		947,301
Operating expenses		1,536,278
Impairment loss		-
Other expenses		38,185
		5,541,134
NET INCOME (LOSS)	$	(505,164	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(566,331	)
Net income (loss) allocated to other partners	$	61,167

* Amounts include $106,474, $39,102, $45,959, $159,714, $185,148, $112,755, $500,992, $164,034, $198,898, $531,118, $187,074, $497,487, $529,907, $297,842, $136,875, $40,749, $131,250, $141,806, $144,427, $13,393, $695,283, $535,125, $678,898, $749,824, $596,043, $915,282 and $566,331 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2015 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Total			Series 20			Series 21
Revenue
Rent	$	111,776,843		$	1,185,836		$	501,207
Interest and other		4,528,841			47,917			3,473
		116,305,684			1,233,753			504,680
Expenses
Interest		22,696,497			103,823			42,173
Depreciation and amortization		30,995,689			319,299			83,029
Taxes and insurance		14,155,041			133,186			65,006
Repairs and maintenance		23,031,379			340,694			108,441
Operating expenses		38,937,669			484,527			185,059
Impairment loss		-			-			-
Other expenses		2,310,183			16,039			-
		132,126,458			1,397,568			483,708
NET INCOME (LOSS)	$	(15,820,774	)	$	(163,815	)	$	20,972
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(11,941,106	)	$	(109,408	)	$	-
Net income (loss) allocated to other partners	$	(3,879,668	)	$	(54,407	)	$	20,972

* Amounts include $109,408, $0, $57,309, $372,667, $146,078, $70,287, $461,073, $226,075, $533,920, $442,926, $174,671, $551,230, $513,975, $250,938, $360,810, $403,942, $381,014, $973,078, $401,471, $283,760, $485,428, $652,535, $820,041, $980,275, $612,970, $674,036 and $677,325 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2015 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 22			Series 23			Series 24
Revenue
Rent	$	779,764		$	2,536,702		$	1,202,358
Interest and other		43,150			89,120			23,919
		822,914			2,625,822			1,226,277
Expenses
Interest		72,934			275,105			121,338
Depreciation and amortization		179,088			982,215			351,255
Taxes and insurance		119,915			392,801			121,189
Repairs and maintenance		237,302			502,492			312,955
Operating expenses		285,458			1,088,431			474,834
Impairment loss		-			-			-
Other expenses		13,232			39,202			20,286
		907,929			3,280,246			1,401,857
NET INCOME (LOSS)	$	(85,015	)	$	(654,424	)	$	(175,580	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(57,309	)	$	(372,667	)	$	(146,078	)
Net income (loss) allocated to other partners	$	(27,706	)	$	(281,757	)	$	(29,502	)

* Amounts include $109,408, $0, $57,309, $372,667, $146,078, $70,287, $461,073, $226,075, $533,920, $442,926, $174,671, $551,230, $513,975, $250,938, $360,810, $403,942, $381,014, $973,078, $401,471, $283,760, $485,428, $652,535, $820,041, $980,275, $612,970, $674,036 and $677,325 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2015 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 25			Series 26			Series 27
Revenue
Rent	$	869,428		$	2,376,345		$	4,652,943
Interest and other		32,201			59,021			43,508
		901,629			2,435,366			4,696,451
Expenses
Interest		84,140			374,082			874,561
Depreciation and amortization		170,873			618,827			916,029
Taxes and insurance		98,899			341,777			602,180
Repairs and maintenance		206,013			640,467			825,870
Operating expenses		350,467			896,421			1,405,937
Impairment loss		-			-			-
Other expenses		8,889			15,500			48,712
		919,281			2,887,074			4,673,289
NET INCOME (LOSS)	$	(17,652	)	$	(451,708	)	$	23,162
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(70,287	)	$	(461,073	)	$	(226,075	)
Net income (loss) allocated to other partners	$	52,635		$	9,365		$	249,237

* Amounts include $109,408, $0, $57,309, $372,667, $146,078, $70,287, $461,073, $226,075, $533,920, $442,926, $174,671, $551,230, $513,975, $250,938, $360,810, $403,942, $381,014, $973,078, $401,471, $283,760, $485,428, $652,535, $820,041, $980,275, $612,970, $674,036 and $677,325 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2015 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 28			Series 29			Series 30
Revenue
Rent	$	1,621,261		$	1,976,028		$	1,493,470
Interest and other		34,516			182,610			143,545
		1,655,777			2,158,638			1,637,015
Expenses
Interest		171,663			457,017			165,357
Depreciation and amortization		503,916			535,120			405,307
Taxes and insurance		198,050			321,634			200,403
Repairs and maintenance		381,359			433,100			364,975
Operating expenses		912,589			843,779			696,234
Impairment loss		-			-			-
Other expenses		-			27,700			6,747
		2,167,577			2,618,350			1,839,023
NET INCOME (LOSS)	$	(511,800	)	$	(459,712	)	$	(202,008	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(533,920	)	$	(442,926	)	$	(174,671	)
Net income (loss) allocated to other partners	$	22,120		$	(16,786	)	$	(27,337	)

* Amounts include $109,408, $0, $57,309, $372,667, $146,078, $70,287, $461,073, $226,075, $533,920, $442,926, $174,671, $551,230, $513,975, $250,938, $360,810, $403,942, $381,014, $973,078, $401,471, $283,760, $485,428, $652,535, $820,041, $980,275, $612,970, $674,036 and $677,325 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2015 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 31			Series 32			Series 33
Revenue
Rent	$	3,857,615		$	3,937,997		$	2,587,763
Interest and other		136,085			522,343			90,053
		3,993,700			4,460,340			2,677,816
Expenses
Interest		346,210			679,912			446,506
Depreciation and amortization		1,077,795			1,225,244			726,280
Taxes and insurance		606,394			491,697			343,569
Repairs and maintenance		710,461			756,911			491,833
Operating expenses		1,763,442			1,518,818			1,017,937
Impairment loss		-			-			-
Other expenses		21,482			280,517			106,005
		4,525,784			4,953,099			3,132,130
NET INCOME (LOSS)	$	(532,084	)	$	(492,759	)	$	(454,314	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(551,230	)	$	(513,975	)	$	(250,938	)
Net income (loss) allocated to other partners	$	19,146		$	21,216		$	(203,376	)

* Amounts include $109,408, $0, $57,309, $372,667, $146,078, $70,287, $461,073, $226,075, $533,920, $442,926, $174,671, $551,230, $513,975, $250,938, $360,810, $403,942, $381,014, $973,078, $401,471, $283,760, $485,428, $652,535, $820,041, $980,275, $612,970, $674,036 and $677,325 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2015 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 34			Series 35			Series 36
Revenue
Rent	$	2,461,028		$	5,117,009		$	3,882,110
Interest and other		71,256			187,870			100,935
		2,532,284			5,304,879			3,983,045
Expenses
Interest		391,137			1,128,100			716,386
Depreciation and amortization		647,172			1,617,552			1,292,043
Taxes and insurance		335,716			637,437			563,732
Repairs and maintenance		487,407			780,180			591,114
Operating expenses		1,000,614			1,725,195			1,502,446
Impairment loss		-			-			-
Other expenses		10,300			63,200			80,836
		2,872,346			5,951,664			4,746,557
NET INCOME (LOSS)	$	(340,062	)	$	(646,785	)	$	(763,512	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P. *	$	(360,810	)	$	(403,942	)	$	(381,014	)
Net income (loss) allocated to other partners	$	20,748		$	(242,843	)	$	(382,498	)

* Amounts include $109,408, $0, $57,309, $372,667, $146,078, $70,287, $461,073, $226,075, $533,920, $442,926, $174,671, $551,230, $513,975, $250,938, $360,810, $403,942, $381,014, $973,078, $401,471, $283,760, $485,428, $652,535, $820,041, $980,275, $612,970, $674,036 and $677,325 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2015 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 37			Series 38			Series 39
Revenue
Rent	$	4,887,918		$	4,461,135		$	2,910,257
Interest and other		224,158			168,050			141,742
		5,112,076			4,629,185			3,051,999
Expenses
Interest		979,187			870,411			586,862
Depreciation and amortization		1,536,522			1,082,815			688,543
Taxes and insurance		762,488			530,136			301,988
Repairs and maintenance		948,457			915,337			599,784
Operating expenses		2,099,524			1,760,555			1,261,653
Impairment loss		-			-			-
Other expenses		120,646			85,767			106,939
		6,446,824			5,245,021			3,545,769
NET INCOME (LOSS)	$	(1,334,748	)	$	(615,836	)	$	(493,770	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(973,078	)	$	(401,471	)	$	(283,760	)
Net income (loss) allocated to other partners	$	(361,670	)	$	(214,365	)	$	(210,010	)

* Amounts include $109,408, $0, $57,309, $372,667, $146,078, $70,287, $461,073, $226,075, $533,920, $442,926, $174,671, $551,230, $513,975, $250,938, $360,810, $403,942, $381,014, $973,078, $401,471, $283,760, $485,428, $652,535, $820,041, $980,275, $612,970, $674,036 and $677,325 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2015 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 40			Series 41			Series 42
Revenue
Rent	$	8,988,443		$	12,011,209		$	7,616,395
Interest and other		274,699			362,739			436,587
		9,263,142			12,373,948			8,052,982
Expenses
Interest		2,623,328			3,198,557			1,728,329
Depreciation and amortization		2,297,137			2,904,618			2,165,627
Taxes and insurance		1,278,199			1,530,747			935,026
Repairs and maintenance		1,459,904			2,347,072			2,050,409
Operating expenses		2,139,931			2,864,489			2,287,940
Impairment loss		-			-			-
Other expenses		88,325			331,540			303,017
		9,886,824			13,177,023			9,470,348
NET INCOME (LOSS)	$	(623,682	)	$	(803,075	)	$	(1,417,366	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(485,428	)	$	(652,535	)	$	(820,041	)
Net income (loss) allocated to other partners	$	(138,254	)	$	(150,540	)	$	(597,325	)

* Amounts include $109,408, $0, $57,309, $372,667, $146,078, $70,287, $461,073, $226,075, $533,920, $442,926, $174,671, $551,230, $513,975, $250,938, $360,810, $403,942, $381,014, $973,078, $401,471, $283,760, $485,428, $652,535, $820,041, $980,275, $612,970, $674,036 and $677,325 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2015 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 43			Series 44			Series 45
Revenue
Rent	$	7,586,036		$	7,672,594		$	8,630,960
Interest and other		410,256			301,391			182,275
		7,996,292			7,973,985			8,813,235
Expenses
Interest		1,466,381			2,015,917			1,399,484
Depreciation and amortization		2,577,315			2,052,878			2,530,687
Taxes and insurance		820,521			560,059			1,056,860
Repairs and maintenance		1,888,325			1,587,593			1,864,206
Operating expenses		2,921,473			2,450,076			2,954,780
Impairment loss		-			-			-
Other expenses		83,350			102,792			237,084
		9,757,365			8,769,315			10,043,101
NET INCOME (LOSS)	$	(1,761,073	)	$	(795,330	)	$	(1,229,866	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(980,275	)	$	(612,970	)	$	(843,380	)
Net income (loss) allocated to other partners	$	(780,798	)	$	(182,360	)	$	(386,486	)

* Amounts include $109,408, $0, $57,309, $372,667, $146,078, $70,287, $461,073, $226,075, $533,920, $442,926, $174,671, $551,230, $513,975, $250,938, $360,810, $403,942, $381,014, $973,078, $401,471, $283,760, $485,428, $652,535, $820,041, $980,275, $612,970, $674,036 and $677,325 for Series 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2015 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2015 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 46
Revenue
Rent	$	5,973,032
Interest and other		215,422
		6,188,454
Expenses
Interest		1,377,597
Depreciation and amortization		1,508,503
Taxes and insurance		805,432
Repairs and maintenance		1,198,718
Operating expenses		2,045,060
Impairment loss		-
Other expenses		92,076
		7,027,386
NET INCOME (LOSS)	$	(838,932	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(831,845	)
Net income (loss) allocated to other partners	$	(7,087	)

* Amounts include $109,408, $0, $57,309, $372,667, $146,078, $70,287, $461,073, $226,075, $533,920, $442,926, $174,671, $551,230, $513,975, $250,938, $360,810, $403,942, $381,014, $973,078, $401,471, $283,760, $485,428, $652,535, $820,041, $980,275, $612,970, $674,036 and $677,325 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.