BF Garden Tax Credit Fund IV L.P. - FORM 10-Q

Attached files

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EX-32 - BCTC IV CERTIFICATION 906 - BF Garden Tax Credit Fund IV L.P.	b41217cert906jpm.htm
EX-32 - BCTC IV CERTIFICATION 906 - BF Garden Tax Credit Fund IV L.P.	b41217cert906mnt.htm
EX-31 - BCTC IV CERTIFICATION 302 - BF Garden Tax Credit Fund IV L.P.	b41217cert302mnt.htm
EX-31 - BCTC IV CERTIFICATION 302 - BF Garden Tax Credit Fund IV L.P.	b41217cert302jpm.htm

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended December 31, 2017
or
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______

Commission file number 0-26200

BOSTON CAPITAL TAX CREDIT FUND IV L.P.
(Exact name of registrant as specified in its charter)

Delaware	04-3208648
(State or other jurisdiction	(I.R.S. Employer
of incorporation or organization)	Identification No.)

One Boston Place, Suite 2100, Boston, Massachusetts 02108
(Address of principal executive offices) (Zip Code)

(617) 624-8900

(Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ý

No 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ý

No 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer □		Accelerated Filer □
Non-accelerated filer □ (Do not check if a smaller reporting company)
		Smaller Reporting Company ý
		Emerging Growth Company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes 

No ý

BOSTON CAPITAL TAX CREDIT FUND IV L.P.

QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED DECEMBER 31, 2017

TABLE OF CONTENTS

PART I FINANCIAL INFORMATION
			Pages
	Item 1. Condensed Financial Statements

		Condensed Balance Sheets			4-31
		Condensed Statements of Operations			32-87
		Condensed Statements of Changes in Partners' Capital (Deficit)			88-97
		Condensed Statements of Cash Flows			98-125
		Notes to Condensed Financial Statements			126-162

	Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations			163-210

	Item 3. Quantitative and Qualitative Disclosures About Market Risk			211

	Item 4. Controls and Procedures			211

PART II OTHER INFORMATION

	Item 1. Legal Proceedings			212

	Item 1A. Risk Factors			212

	Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			212

	Item 3. Defaults Upon Senior Securities			212

	Item 4. Mine Safety Disclosures			212

	Item 5. Other Information			212

	Item 6. Exhibits			212

	Signatures			213

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		28,521,120		27,209,997
Notes receivable		-		22,790
Other assets		58,927		164,773

	$	28,580,047	$	27,397,560




LIABILITIES

Accounts payable and accrued expenses	$	651,173	$	697,432
Accounts payable affiliates (Note C)		31,587,088		39,637,826
Capital contributions payable		186,846		578,113

		32,425,107		40,913,371


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 83,651,080 issued and 83,310,666 outstanding as of December 31, 2017 and March 31, 2017.		2,171,533		(6,338,126)
General Partner		(6,016,593)		(7,177,685)

		(3,845,060)		(13,515,811)

	$	28,580,047	$	27,397,560

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 20


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		286,465		271,060
Notes receivable		-		-
Other assets		-		-

	$	286,465	$	271,060




LIABILITIES

Accounts payable and accrued expenses	$	2,000	$	-
Accounts payable affiliates (Note C)		1,483,509		1,466,902
Capital contributions payable		-		-

		1,485,509		1,466,902


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,866,700 issued and 3,833,200 outstanding as of December 31, 2017 and March 31, 2017.		(878,801)		(875,631)
General Partner		(320,243)		(320,211)

		(1,199,044)		(1,195,842)

	$	286,465	$	271,060

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 21


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		-		241,102
Notes receivable		-		-
Other assets		-		-

	$	-	$	241,102




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		-		1,321,237
Capital contributions payable		-		-

		-		1,321,237


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 1,892,700 issued and 1,879,500 outstanding as of December 31, 2017 and March 31, 2017.		(898,231)		(907,383)
General Partner		898,231		(172,752)

		-		(1,080,135)

	$	-	$	241,102

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 22


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		225,666		252,064
Notes receivable		-		-
Other assets		-		-

	$	225,666	$	252,064




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		2,870,806		2,848,897
Capital contributions payable		-		-

		2,870,806		2,848,897


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,564,400 issued and 2,557,045 outstanding as of December 31, 2017 and March 31, 2017.		(2,399,605)		(2,351,781)
General Partner		(245,535)		(245,052)

		(2,645,140)		(2,596,833)

	$	225,666	$	252,064

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 23


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		1,138,740		659,167
Notes receivable		-		-
Other assets		-		-

	$	1,138,740	$	659,167




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		1,617,792		2,089,674
Capital contributions payable		-		-

		1,617,792		2,089,674


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,336,727 issued and 3,314,827 outstanding as of December 31, 2017 and March 31, 2017.		(189,415)		(1,131,355)
General Partner		(289,637)		(299,152)

		(479,052)		(1,430,507)

	$	1,138,740	$	659,167

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 24


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		365,067		427,181
Notes receivable		-		-
Other assets		-		-

	$	365,067	$	427,181




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		-		-
Capital contributions payable		-		-

		-		-


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,169,878 issued and 2,154,253 outstanding as of December 31, 2017 and March 31, 2017.		540,668		602,161
General Partner		(175,601)		(174,980)

		365,067		427,181

	$	365,067	$	427,181

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 25


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		-		344,461
Notes receivable		-		-
Other assets		-		1,250

	$	-	$	345,711




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		-		-
Capital contributions payable		-		-

		-		-


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,026,109 issued and 3,016,809 outstanding as of December 31, 2017 and March 31, 2017.		219,815		565,870
General Partner		(219,815)		(220,159)

		-		345,711

	$	-	$	345,711

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 26


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		662,931		677,679
Notes receivable		-		-
Other assets		-		-

	$	662,931	$	677,679




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		-		-
Capital contributions payable		-		-

		-		-


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,995,900 issued and 3,977,000 outstanding as of December 31, 2017 and March 31, 2017.		974,644		989,245
General Partner		(311,713)		(311,566)

		662,931		677,679

	$	662,931	$	677,679

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 27


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		6,788,242		3,606,473
Notes receivable		-		-
Other assets		-		-

	$	6,788,242	$	3,606,473




LIABILITIES

Accounts payable and accrued expenses	$	-	$	31,673
Accounts payable affiliates (Note C)		-		-
Capital contributions payable		-		-

		-		31,673


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,460,700 issued and 2,446,400 outstanding as of December 31, 2017 and March 31, 2017.		6,926,807		3,745,499
General Partner		(138,565)		(170,699)

		6,788,242		3,574,800

	$	6,788,242	$	3,606,473

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 28


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		756,082		812,483
Notes receivable		-		-
Other assets		-		-

	$	756,082	$	812,483




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		-		-
Capital contributions payable		-		-

		-		-


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,000,738 issued and 3,990,738 outstanding as of December 31, 2017 and March 31, 2017.		1,030,358		1,086,195
General Partner		(274,276)		(273,712)

		756,082		812,483

	$	756,082	$	812,483

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 29


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		314,643		345,648
Notes receivable		-		-
Other assets		-		-

	$	314,643	$	345,648




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		3,540,832		3,479,192
Capital contributions payable		8,235		8,235

		3,549,067		3,487,427


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,991,800 issued and 3,965,300 outstanding as of December 31, 2017 and March 31, 2017.		(2,863,433)		(2,771,714)
General Partner		(370,991)		(370,065)

		(3,234,424)		(3,141,779)

	$	314,643	$	345,648

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 30


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		519,393		270,126
Notes receivable		-		-
Other assets		-		-

	$	519,393	$	270,126




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		1,683,848		1,641,976
Capital contributions payable		65,176		105,139

		1,749,024		1,747,115


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,651,000 issued and 2,631,000 outstanding as of December 31, 2017 and March 31, 2017.		(990,279)		(1,235,163)
General Partner		(239,352)		(241,826)

		(1,229,631)		(1,476,989)

	$	519,393	$	270,126

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 31


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		1,993,674		2,047,648
Notes receivable		-		-
Other assets		25,000		25,000

	$	2,018,674	$	2,072,648




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		-		-
Capital contributions payable		66,294		66,294

		66,294		66,294


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,417,857 issued and 4,395,557 outstanding as of December 31, 2017 and March 31, 2017.		2,312,115		2,365,549
General Partner		(359,735)		(359,195)

		1,952,380		2,006,354

	$	2,018,674	$	2,072,648

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 32


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		1,313,748		837,185
Notes receivable		-		-
Other assets		-		-

	$	1,313,748	$	837,185




LIABILITIES

Accounts payable and accrued expenses	$	-	$	2,000
Accounts payable affiliates (Note C)		1,664,448		2,772,531
Capital contributions payable		1,229		1,229

		1,665,677		2,775,760


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,754,198 issued and 4,740,198 outstanding as of December 31, 2017 and March 31, 2017.		57,954		(1,512,826)
General Partner		(409,883)		(425,749)

		(351,929)		(1,938,575)

	$	1,313,748	$	837,185

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 33


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		342,899		337,765
Notes receivable		-		-
Other assets		-		-

	$	342,899	$	337,765




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		1,239,277		1,190,828
Capital contributions payable		2,650		69,154

		1,241,927		1,259,982


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,636,533 issued and 2,626,533 outstanding as of December 31, 2017 and March 31, 2017.		(664,258)		(687,215)
General Partner		(234,770)		(235,002)

		(899,028)		(922,217)

	$	342,899	$	337,765

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 34


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		393,160		849,078
Notes receivable		-		-
Other assets		-		-

	$	393,160	$	849,078




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		2,828,003		3,221,597
Capital contributions payable		-		-

		2,828,003		3,221,597


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,529,319 issued and 3,517,419 outstanding as of December 31, 2017 and March 31, 2017.		(2,110,105)		(2,048,404)
General Partner		(324,738)		(324,115)

		(2,434,843)		(2,372,519)

	$	393,160	$	849,078

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 35


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		4,434,679		2,392,767
Notes receivable		-		-
Other assets		-		-

	$	4,434,679	$	2,392,767




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		-		551,982
Capital contributions payable		-		-

		-		551,982


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,300,463 issued and 3,288,363 outstanding as of December 31, 2017 and March 31, 2017.		4,672,357		2,104,402
General Partner		(237,678)		(263,617)

		4,434,679		1,840,785

	$	4,434,679	$	2,392,767

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 36


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		2,125,621		2,934,317
Notes receivable		-		-
Other assets		-		-

	$	2,125,621	$	2,934,317




LIABILITIES

Accounts payable and accrued expenses	$	131,000	$	131,000
Accounts payable affiliates (Note C)		-		767,505
Capital contributions payable		-		-

		131,000		898,505


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,106,838 issued and 2,095,704 outstanding as of December 31, 2017 and March 31, 2017.		2,153,338		2,194,117
General Partner		(158,717)		(158,305)

		1,994,621		2,035,812

	$	2,125,621	$	2,934,317

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 37


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		523,132		2,096,039
Notes receivable		-		-
Other assets		-		-

	$	523,132	$	2,096,039




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		504,942		2,043,715
Capital contributions payable		-		138,438

		504,942		2,182,153


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,512,500 issued and 2,495,600 outstanding as of December 31, 2017 and March 31, 2017.		233,573		130,312
General Partner		(215,383)		(216,426)

		18,190		(86,114)

	$	523,132	$	2,096,039

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 38


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		1,469,010		3,042,864
Notes receivable		-		-
Other assets		-		-

	$	1,469,010	$	3,042,864




LIABILITIES

Accounts payable and accrued expenses	$	-	$	6,543
Accounts payable affiliates (Note C)		-		1,515,985
Capital contributions payable		-		-

		-		1,522,528


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,543,100 issued and 2,540,100 outstanding as of December 31, 2017 and March 31, 2017.		1,672,604		1,723,417
General Partner		(203,594)		(203,081)

		1,469,010		1,520,336

	$	1,469,010	$	3,042,864

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 39


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		-		1,248,898
Notes receivable		-		-
Other assets		-		-

	$	-	$	1,248,898




LIABILITIES

Accounts payable and accrued expenses	$	-	$	6,543
Accounts payable affiliates (Note C)		-		1,154,240
Capital contributions payable		-		-

		-		1,160,783


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,292,151 issued and 2,288,351 outstanding as of December 31, 2017 and March 31, 2017.		196,043		283,677
General Partner		(196,043)		(195,562)

		-		88,115

	$	-	$	1,248,898

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 40


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		725,271		248,318
Notes receivable		-		-
Other assets		-		-

	$	725,271	$	248,318




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		2,675,427		2,684,058
Capital contributions payable		102		102

		2,675,529		2,684,160


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,630,256 issued and 2,622,756 outstanding as of December 31, 2017 and March 31, 2017.		(1,705,812)		(2,186,540)
General Partner		(244,446)		(249,302)

		(1,950,258)		(2,435,842)

	$	725,271	$	248,318

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 41


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		1,022,969		322,902
Notes receivable		-		-
Other assets		-		1,218

	$	1,022,969	$	324,120




LIABILITIES

Accounts payable and accrued expenses	$	2,000	$	4,500
Accounts payable affiliates (Note C)		3,370,905		3,286,255
Capital contributions payable		100		100

		3,373,005		3,290,855


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,891,626 issued and 2,884,126 outstanding as of December 31, 2017 and March 31, 2017.		(2,077,367)		(2,687,899)
General Partner		(272,669)		(278,836)

		(2,350,036)		(2,966,735)

	$	1,022,969	$	324,120

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 42


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		1,198,080		1,072,528
Notes receivable		-		22,790
Other assets		11,300		51,003

	$	1,209,380	$	1,146,321




LIABILITIES

Accounts payable and accrued expenses	$	1,000	$	-
Accounts payable affiliates (Note C)		-		-
Capital contributions payable		254		73,433

		1,254		73,433


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,744,262 issued and 2,736,262 outstanding as of December 31, 2017 and March 31, 2017.		1,436,983		1,303,097
General Partner		(228,857)		(230,209)

		1,208,126		1,072,888

	$	1,209,380	$	1,146,321

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 43


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		594,126		351,638
Notes receivable		-		-
Other assets		18,839		82,514

	$	612,965	$	434,152




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		942,792		771,794
Capital contributions payable		26,082		99,265

		968,874		871,059


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 3,637,987 issued and 3,632,487 outstanding as of December 31, 2017 and March 31, 2017.		(30,829)		(111,017)
General Partner		(325,080)		(325,890)

		(355,909)		(436,907)

	$	612,965	$	434,152

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 44


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		84,859		66,324
Notes receivable		-		-
Other assets		-		-

	$	84,859	$	66,324




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		2,769,597		2,584,641
Capital contributions payable		-		-

		2,769,597		2,584,641


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,701,973 issued and 2,699,473 outstanding as of December 31, 2017 and March 31, 2017.		(2,420,443)		(2,255,686)
General Partner		(264,295)		(262,631)

		(2,684,738)		(2,518,317)

	$	84,859	$	66,324

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 45


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		727,804		803,153
Notes receivable		-		-
Other assets		-		-

	$	727,804	$	803,153




LIABILITIES

Accounts payable and accrued expenses	$	515,173	$	515,173
Accounts payable affiliates (Note C)		2,514,264		2,357,846
Capital contributions payable		16,724		16,724

		3,046,161		2,889,743


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 4,014,367 issued and 4,009,667 outstanding as of December 31, 2017 and March 31, 2017.		(1,941,511)		(1,712,062)
General Partner		(376,846)		(374,528)

		(2,318,357)		(2,086,590)

	$	727,804	$	803,153

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 46


		December 31, 2017		March 31, 2017


INVESTMENTS IN OPERATING PARTNERSHIPS	$	-	$	-

OTHER ASSETS
Cash and cash equivalents		514,859		651,129
Notes receivable		-		-
Other assets		3,788		3,788

	$	518,647	$	654,917




LIABILITIES

Accounts payable and accrued expenses	$	-	$	-
Accounts payable affiliates (Note C)		1,880,646		1,886,971
Capital contributions payable		-		-

		1,880,646		1,886,971


PARTNERS' CAPITAL (DEFICIT)

Assignees
Units of limited partnership interest, $10 stated value per BAC; 101,500,000 authorized BACs; 2,980,998 issued and 2,971,998 outstanding as of December 31, 2017 and March 31, 2017.		(1,085,637)		(956,991)
General Partner		(276,362)		(275,063)

		(1,361,999)		(1,232,054)

	$	518,647	$	654,917

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

		2017		2016

Income
Interest income	$	44,147	$	12,779
Other income		61,482		26,607

		105,629		39,386



Share of income from Operating Partnerships (Note D)		1,055,522		3,579,666


Expenses
Professional fees		26,251		67,759
Fund management fee, net (Note C)		456,851		661,511
General and administrative expenses		259,174		210,384

		742,276		939,654


NET INCOME (LOSS)	$	418,875	$	2,679,398




Net income (loss) allocated to assignees	$	414,684	$	2,652,602




Net income (loss) allocated to general partner	$	4,191	$	26,796




Net income (loss) per BAC	$	.00	$	.03

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 20

		2017		2016

Income
Interest income	$	284	$	113
Other income		-		-

		284		113



Share of income from Operating Partnerships (Note D)		42,000		-


Expenses
Professional fees		657		1,425
Fund management fee, net (Note C)		5,336		5,202
General and administrative expenses		6,930		9,204

		12,923		15,831


NET INCOME (LOSS)	$	29,361	$	(15,718)




Net income (loss) allocated to assignees	$	29,067	$	(15,561)




Net income (loss) allocated to general partner	$	294	$	(157)




Net income (loss) per BAC	$	.01	$	(.00)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 21

		2017		2016

Income
Interest income	$	81	$	106
Other income		-		-

		81		106



Share of income from Operating Partnerships (Note D)		67,000		-


Expenses
Professional fees		1,314		734
Fund management fee, net (Note C)		2,216		2,718
General and administrative expenses		32,726		5,558

		36,256		9,010


NET INCOME (LOSS)	$	30,825	$	(8,904)




Net income (loss) allocated to assignees	$	30,517	$	(8,815)




Net income (loss) allocated to general partner	$	308	$	(89)




Net income (loss) per BAC	$	.02	$	(.00)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 22

		2017		2016

Income
Interest income	$	196	$	86
Other income		-		-

		196		86



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		657		1,020
Fund management fee, net (Note C)		7,303		7,302
General and administrative expenses		5,479		7,109

		13,439		15,431


NET INCOME (LOSS)	$	(13,243)	$	(15,345)




Net income (loss) allocated to assignees	$	(13,111)	$	(15,192)




Net income (loss) allocated to general partner	$	(132)	$	(153)




Net income (loss) per BAC	$	(.01)	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 23

		2017		2016

Income
Interest income	$	1,140	$	64
Other income		1,977		-

		3,117		64



Share of income from Operating Partnerships (Note D)		30,296		-


Expenses
Professional fees		657		1,328
Fund management fee, net (Note C)		5,556		9,270
General and administrative expenses		6,533		8,883

		12,746		19,481


NET INCOME (LOSS)	$	20,667	$	(19,417)




Net income (loss) allocated to assignees	$	20,460	$	(19,223)




Net income (loss) allocated to general partner	$	207	$	(194)




Net income (loss) per BAC	$	.01	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 24

		2017		2016

Income
Interest income	$	211	$	86
Other income		344		104

		555		190



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		657		818
Fund management fee, net (Note C)		12,098		11,858
General and administrative expenses		5,131		6,536

		17,886		19,212


NET INCOME (LOSS)	$	(17,331)	$	(19,022)




Net income (loss) allocated to assignees	$	(17,158)	$	(18,832)




Net income (loss) allocated to general partner	$	(173)	$	(190)




Net income (loss) per BAC	$	(.01)	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 25

		2017		2016

Income
Interest income	$	-	$	80
Other income		-		16

		-		96



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		1,314		1,104
Fund management fee, net (Note C)		-		5,184
General and administrative expenses		40,074		7,758

		41,388		14,046


NET INCOME (LOSS)	$	(41,388)	$	(13,950)




Net income (loss) allocated to assignees	$	(40,974)	$	(13,810)




Net income (loss) allocated to general partner	$	(414)	$	(140)




Net income (loss) per BAC	$	(.01)	$	(.00)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 26

		2017		2016

Income
Interest income	$	530	$	225
Other income		-		4,960

		530		5,185



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		657		1,431
Fund management fee, net (Note C)		15,609		21,704
General and administrative expenses		7,656		10,619

		23,922		33,754


NET INCOME (LOSS)	$	(23,392)	$	(28,569)




Net income (loss) allocated to assignees	$	(23,158)	$	(28,283)




Net income (loss) allocated to general partner	$	(234)	$	(286)




Net income (loss) per BAC	$	(.01)	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 27

		2017		2016

Income
Interest income	$	8,050	$	2,689
Other income		7,370		-

		15,420		2,689



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		2,577		36,567
Fund management fee, net (Note C)		155		21,794
General and administrative expenses		4,895		6,493

		7,627		64,854


NET INCOME (LOSS)	$	7,793	$	(62,165)




Net income (loss) allocated to assignees	$	7,715	$	(61,543)




Net income (loss) allocated to general partner	$	78	$	(622)




Net income (loss) per BAC	$	.00	$	(.03)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 28

		2017		2016

Income
Interest income	$	577	$	278
Other income		-		-

		577		278



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		657		1,315
Fund management fee, net (Note C)		8,844		(6,156)
General and administrative expenses		6,717		8,756

		16,218		3,915


NET INCOME (LOSS)	$	(15,641)	$	(3,637)




Net income (loss) allocated to assignees	$	(15,485)	$	(3,601)




Net income (loss) allocated to general partner	$	(156)	$	(36)




Net income (loss) per BAC	$	(.00)	$	(.00)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 29

		2017		2016

Income
Interest income	$	313	$	149
Other income		-		-

		313		149



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		657		1,449
Fund management fee, net (Note C)		20,547		16,596
General and administrative expenses		7,413		9,681

		28,617		27,726


NET INCOME (LOSS)	$	(28,304)	$	(27,577)




Net income (loss) allocated to assignees	$	(28,021)	$	(27,301)




Net income (loss) allocated to general partner	$	(283)	$	(276)




Net income (loss) per BAC	$	(.01)	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 30

		2017		2016

Income
Interest income	$	574	$	141
Other income		-		-

		574		141



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		657		894
Fund management fee, net (Note C)		10,209		15,021
General and administrative expenses		5,314		6,974

		16,180		22,889


NET INCOME (LOSS)	$	(15,606)	$	(22,748)




Net income (loss) allocated to assignees	$	(15,450)	$	(22,521)




Net income (loss) allocated to general partner	$	(156)	$	(227)




Net income (loss) per BAC	$	(.01)	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 31

		2017		2016

Income
Interest income	$	2,325	$	670
Other income		-		-

		2,325		670



Share of income from Operating Partnerships (Note D)		-		791,947


Expenses
Professional fees		657		1,391
Fund management fee, net (Note C)		19,092		37,521
General and administrative expenses		7,199		9,702

		26,948		48,614


NET INCOME (LOSS)	$	(24,623)	$	744,003




Net income (loss) allocated to assignees	$	(24,377)	$	736,563




Net income (loss) allocated to general partner	$	(246)	$	7,440




Net income (loss) per BAC	$	(.01)	$	.17

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 32

		2017		2016

Income
Interest income	$	2,148	$	124
Other income		11,000		-

		13,148		124



Share of income from Operating Partnerships (Note D)		128,747		48,900


Expenses
Professional fees		657		1,482
Fund management fee, net (Note C)		17,234		43,080
General and administrative expenses		11,395		10,050

		29,286		54,612


NET INCOME (LOSS)	$	112,609	$	(5,588)




Net income (loss) allocated to assignees	$	111,483	$	(5,532)




Net income (loss) allocated to general partner	$	1,126	$	(56)




Net income (loss) per BAC	$	.02	$	(.00)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,

(Unaudited)

Series 33

		2017		2016

Income
Interest income	$	332	$	157
Other income		5,329		-

		5,661		157



Share of income from Operating Partnerships (Note D)		67,454		-


Expenses
Professional fees		657		890
Fund management fee, net (Note C)		(3,186)		16,398
General and administrative expenses		4,891		6,314

		2,362		23,602


NET INCOME (LOSS)	$	70,753	$	(23,445)




Net income (loss) allocated to assignees	$	70,045	$	(23,211)




Net income (loss) allocated to general partner	$	708	$	(234)




Net income (loss) per BAC	$	.03	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 34

		2017		2016

Income
Interest income	$	645	$	315
Other income		-		-

		645		315



Share of income from Operating Partnerships (Note D)		-		388,191


Expenses
Professional fees		657		1,934
Fund management fee, net (Note C)		12,365		12,592
General and administrative expenses		5,903		7,768

		18,925		22,294


NET INCOME (LOSS)	$	(18,280)	$	366,212




Net income (loss) allocated to assignees	$	(18,097)	$	362,550




Net income (loss) allocated to general partner	$	(183)	$	3,662




Net income (loss) per BAC	$	(.01)	$	.10

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 35

		2017		2016

Income
Interest income	$	5,396	$	2,252
Other income		-		-

		5,396		2,252



Share of income from Operating Partnerships (Note D)		-		162,435


Expenses
Professional fees		657		1,190
Fund management fee, net (Note C)		7,453		21,180
General and administrative expenses		5,576		7,658

		13,686		30,028


NET INCOME (LOSS)	$	(8,290)	$	134,659




Net income (loss) allocated to assignees	$	(8,207)	$	133,312




Net income (loss) allocated to general partner	$	(83)	$	1,347




Net income (loss) per BAC	$	(.00)	$	.04

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 36

		2017		2016

Income
Interest income	$	2,465	$	1,895
Other income		-		-

		2,465		1,895



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		657		716
Fund management fee, net (Note C)		7,626		7,626
General and administrative expenses		4,272		5,466

		12,555		13,808


NET INCOME (LOSS)	$	(10,090)	$	(11,913)




Net income (loss) allocated to assignees	$	(9,989)	$	(11,794)




Net income (loss) allocated to general partner	$	(101)	$	(119)




Net income (loss) per BAC	$	(.00)	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 37

		2017		2016

Income
Interest income	$	1,144	$	1,375
Other income		-		-

		1,144		1,375



Share of income from Operating Partnerships (Note D)		140,415		-


Expenses
Professional fees		657		804
Fund management fee, net (Note C)		10,957		26,424
General and administrative expenses		4,318		5,994

		15,932		33,222


NET INCOME (LOSS)	$	125,627	$	(31,847)




Net income (loss) allocated to assignees	$	124,371	$	(31,529)




Net income (loss) allocated to general partner	$	1,256	$	(318)




Net income (loss) per BAC	$	.05	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 38

		2017		2016

Income
Interest income	$	3,593	$	258
Other income		7,020		18,350

		10,613		18,608



Share of income from Operating Partnerships (Note D)		-		1,795,010


Expenses
Professional fees		657		2,100
Fund management fee, net (Note C)		8,034		27,579
General and administrative expenses		4,808		6,312

		13,499		35,991


NET INCOME (LOSS)	$	(2,886)	$	1,777,627




Net income (loss) allocated to assignees	$	(2,857)	$	1,759,851




Net income (loss) allocated to general partner	$	(29)	$	17,776




Net income (loss) per BAC	$	(.00)	$	.69

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 39

		2017		2016

Income
Interest income	$	175	$	103
Other income		-		550

		175		653



Share of income from Operating Partnerships (Note D)		17,779		-


Expenses
Professional fees		1,314		1,944
Fund management fee, net (Note C)		1,712		13,623
General and administrative expenses		34,495		5,308

		37,521		20,875


NET INCOME (LOSS)	$	(19,567)	$	(20,222)




Net income (loss) allocated to assignees	$	(19,371)	$	(20,020)




Net income (loss) allocated to general partner	$	(196)	$	(202)




Net income (loss) per BAC	$	(.01)	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 40

		2017		2016

Income
Interest income	$	830	$	40
Other income		2,262		-

		3,092		40



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		657		785
Fund management fee, net (Note C)		15,119		33,579
General and administrative expenses		5,228		6,820

		21,004		41,184


NET INCOME (LOSS)	$	(17,912)	$	(41,144)




Net income (loss) allocated to assignees	$	(17,733)	$	(40,733)




Net income (loss) allocated to general partner	$	(179)	$	(411)




Net income (loss) per BAC	$	(.01)	$	(.02)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 41

		2017		2016

Income
Interest income	$	1,070	$	137
Other income		2,765		-

		3,835		137



Share of income from Operating Partnerships (Note D)		63,058		-


Expenses
Professional fees		657		961
Fund management fee, net (Note C)		37,849		49,440
General and administrative expenses		7,821		8,370

		46,327		58,771


NET INCOME (LOSS)	$	20,566	$	(58,634)




Net income (loss) allocated to assignees	$	20,360	$	(58,048)




Net income (loss) allocated to general partner	$	206	$	(586)




Net income (loss) per BAC	$	.01	$	(.02)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 42

		2017		2016

Income
Interest income	$	5,466	$	607
Other income		172		52

		5,638		659



Share of income from Operating Partnerships (Note D)		262,279		-


Expenses
Professional fees		657		870
Fund management fee, net (Note C)		35,049		42,506
General and administrative expenses		6,073		7,558

		41,779		50,934


NET INCOME (LOSS)	$	226,138	$	(50,275)




Net income (loss) allocated to assignees	$	223,877	$	(49,772)




Net income (loss) allocated to general partner	$	2,261	$	(503)




Net income (loss) per BAC	$	.08	$	(.02)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 43

		2017		2016

Income
Interest income	$	4,962	$	455
Other income		-		-

		4,962		455



Share of income from Operating Partnerships (Note D)		225,500		-


Expenses
Professional fees		657		1,037
Fund management fee, net (Note C)		54,247		53,693
General and administrative expenses		7,497		9,444

		62,401		64,174


NET INCOME (LOSS)	$	168,061	$	(63,719)




Net income (loss) allocated to assignees	$	166,380	$	(63,082)




Net income (loss) allocated to general partner	$	1,681	$	(637)




Net income (loss) per BAC	$	.05	$	(.02)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 44

		2017		2016

Income
Interest income	$	61	$	4
Other income		6,895		2,187

		6,956		2,191



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		657		823
Fund management fee, net (Note C)		31,705		60,012
General and administrative expenses		5,377		6,755

		37,739		67,590


NET INCOME (LOSS)	$	(30,783)	$	(65,399)




Net income (loss) allocated to assignees	$	(30,475)	$	(64,745)




Net income (loss) allocated to general partner	$	(308)	$	(654)




Net income (loss) per BAC	$	(.01)	$	(.02)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 45

		2017		2016

Income
Interest income	$	854	$	271
Other income		-		388

		854		659



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		5,278		1,852
Fund management fee, net (Note C)		68,354		58,020
General and administrative expenses		8,963		11,176

		82,595		71,048


NET INCOME (LOSS)	$	(81,741)	$	(70,389)




Net income (loss) allocated to assignees	$	(80,924)	$	(69,685)




Net income (loss) allocated to general partner	$	(817)	$	(704)




Net income (loss) per BAC	$	(.02)	$	(.02)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended December 31,
(Unaudited)

Series 46

		2017		2016

Income
Interest income	$	725	$	99
Other income		16,348		-

		17,073		99



Share of income from Operating Partnerships (Note D)		10,994		393,183


Expenses
Professional fees		657		895
Fund management fee, net (Note C)		45,368		47,745
General and administrative expenses		6,490		8,118

		52,515		56,758


NET INCOME (LOSS)	$	(24,448)	$	336,524




Net income (loss) allocated to assignees	$	(24,204)	$	333,159




Net income (loss) allocated to general partner	$	(244)	$	3,365




Net income (loss) per BAC	$	(.01)	$	.11

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

		2017		2016

Income
Interest income	$	80,976	$	39,255
Other income		254,126		219,790

		335,102		259,045



Share of income from Operating Partnerships (Note D)		11,305,952		13,992,959


Expenses
Professional fees		581,933		648,169
Fund management fee, net (Note C)		1,530,568		1,924,211
General and administrative expenses		508,530		504,870

		2,621,031		3,077,250


NET INCOME (LOSS)	$	9,020,023	$	11,174,754




Net income (loss) allocated to assignees	$	8,929,822	$	11,063,009




Net income (loss) allocated to general partner	$	90,201	$	111,745




Net income (loss) per BAC	$	.11	$	.13

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 20

		2017		2016

Income
Interest income	$	350	$	334
Other income		-		-

		350		334



Share of income from Operating Partnerships (Note D)		42,000		138,000


Expenses
Professional fees		14,281		13,141
Fund management fee, net (Note C)		14,295		18,075
General and administrative expenses		16,976		21,699

		45,552		52,915


NET INCOME (LOSS)	$	(3,202)	$	85,419




Net income (loss) allocated to assignees	$	(3,170)	$	84,565




Net income (loss) allocated to general partner	$	(32)	$	854




Net income (loss) per BAC	$	(.00)	$	.02

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 21

		2017		2016

Income
Interest income	$	137	$	486
Other income		859		859

		996		1,345



Share of income from Operating Partnerships (Note D)		67,000		-


Expenses
Professional fees		12,275		13,453
Fund management fee, net (Note C)		5,603		6,103
General and administrative expenses		40,874		14,649

		58,752		34,205


NET INCOME (LOSS)	$	9,244	$	(32,860)




Net income (loss) allocated to assignees	$	9,152	$	(32,531)




Net income (loss) allocated to general partner	$	92	$	(329)




Net income (loss) per BAC	$	.00	$	(.02)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 22

		2017		2016

Income
Interest income	$	361	$	291
Other income		-		-

		361		291



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		12,818		15,679
Fund management fee, net (Note C)		21,409		21,406
General and administrative expenses		14,441		17,703

		48,668		54,788


NET INCOME (LOSS)	$	(48,307)	$	(54,497)




Net income (loss) allocated to assignees	$	(47,824)	$	(53,952)




Net income (loss) allocated to general partner	$	(483)	$	(545)




Net income (loss) per BAC	$	(.02)	$	(.02)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 23

		2017		2016

Income
Interest income	$	3,364	$	230
Other income		5,932		-

		9,296		230



Share of income from Operating Partnerships (Note D)		989,962		3,550


Expenses
Professional fees		16,579		19,409
Fund management fee, net (Note C)		14,918		23,012
General and administrative expenses		16,306		20,966

		47,803		63,387


NET INCOME (LOSS)	$	951,455	$	(59,607)




Net income (loss) allocated to assignees	$	941,940	$	(59,011)




Net income (loss) allocated to general partner	$	9,515	$	(596)




Net income (loss) per BAC	$	.28	$	(.02)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 24

		2017		2016

Income
Interest income	$	372	$	297
Other income		748		3,846

		1,120		4,143



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		14,336		13,968
Fund management fee, net (Note C)		34,929		32,407
General and administrative expenses		13,969		17,215

		63,234		63,590


NET INCOME (LOSS)	$	(62,114)	$	(59,447)




Net income (loss) allocated to assignees	$	(61,493)	$	(58,853)




Net income (loss) allocated to general partner	$	(621)	$	(594)




Net income (loss) per BAC	$	(.03)	$	(.03)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 25

		2017		2016

Income
Interest income	$	143	$	256
Other income		10,178		10,178

		10,321		10,434



Share of income from Operating Partnerships (Note D)		97,399		-


Expenses
Professional fees		13,993		12,762
Fund management fee, net (Note C)		9,682		11,342
General and administrative expenses		49,639		20,196

		73,314		44,300


NET INCOME (LOSS)	$	34,406	$	(33,866)




Net income (loss) allocated to assignees	$	34,062	$	(33,527)




Net income (loss) allocated to general partner	$	344	$	(339)




Net income (loss) per BAC	$	.01	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 26

		2017		2016

Income
Interest income	$	799	$	802
Other income		526		6,176

		1,325		6,978



Share of income from Operating Partnerships (Note D)		80,000		18,500


Expenses
Professional fees		20,884		23,890
Fund management fee, net (Note C)		56,858		65,190
General and administrative expenses		18,331		25,561

		96,073		114,641


NET INCOME (LOSS)	$	(14,748)	$	(89,163)




Net income (loss) allocated to assignees	$	(14,601)	$	(88,271)




Net income (loss) allocated to general partner	$	(147)	$	(892)




Net income (loss) per BAC	$	(.00)	$	(.02)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 27

		2017		2016

Income
Interest income	$	19,993	$	6,629
Other income		17,473		6,000

		37,466		12,629



Share of income from Operating Partnerships (Note D)		3,291,567		3,016,000


Expenses
Professional fees		79,116		104,403
Fund management fee, net (Note C)		22,678		74,018
General and administrative expenses		13,797		16,382

		115,591		194,803


NET INCOME (LOSS)	$	3,213,442	$	2,833,826




Net income (loss) allocated to assignees	$	3,181,308	$	2,805,488




Net income (loss) allocated to general partner	$	32,134	$	28,338




Net income (loss) per BAC	$	1.30	$	1.14

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 28

		2017		2016

Income
Interest income	$	872	$	884
Other income		446		7,976

		1,318		8,860



Share of income from Operating Partnerships (Note D)		-		5,000


Expenses
Professional fees		16,372		20,687
Fund management fee, net (Note C)		24,532		12,835
General and administrative expenses		16,815		22,425

		57,719		55,947


NET INCOME (LOSS)	$	(56,401)	$	(42,087)




Net income (loss) allocated to assignees	$	(55,837)	$	(41,666)




Net income (loss) allocated to general partner	$	(564)	$	(421)




Net income (loss) per BAC	$	(.01)	$	(.01)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 29

		2017		2016

Income
Interest income	$	493	$	606
Other income		-		-

		493		606



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		17,325		62,411
Fund management fee, net (Note C)		58,253		53,985
General and administrative expenses		17,560		22,389

		93,138		138,785


NET INCOME (LOSS)	$	(92,645)	$	(138,179)




Net income (loss) allocated to assignees	$	(91,719)	$	(136,797)




Net income (loss) allocated to general partner	$	(926)	$	(1,382)




Net income (loss) per BAC	$	(.02)	$	(.03)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 30

		2017		2016

Income
Interest income	$	700	$	503
Other income		1,243		1,243

		1,943		1,746



Share of income from Operating Partnerships (Note D)		265,984		-


Expenses
Professional fees		15,688		19,058
Fund management fee, net (Note C)		(9,082)		42,047
General and administrative expenses		13,963		16,733

		20,569		77,838


NET INCOME (LOSS)	$	247,358	$	(76,092)




Net income (loss) allocated to assignees	$	244,884	$	(75,331)




Net income (loss) allocated to general partner	$	2,474	$	(761)




Net income (loss) per BAC	$	.09	$	(.03)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 31

		2017		2016

Income
Interest income	$	4,736	$	2,103
Other income		1,116		590

		5,852		2,693



Share of income from Operating Partnerships (Note D)		45,000		791,947


Expenses
Professional fees		26,529		24,365
Fund management fee, net (Note C)		60,990		107,063
General and administrative expenses		17,307		22,281

		104,826		153,709


NET INCOME (LOSS)	$	(53,974)	$	640,931




Net income (loss) allocated to assignees	$	(53,434)	$	634,522




Net income (loss) allocated to general partner	$	(540)	$	6,409




Net income (loss) per BAC	$	(.01)	$	.14

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 32

		2017		2016

Income
Interest income	$	2,930	$	1,143
Other income		11,000		1,800

		13,930		2,943



Share of income from Operating Partnerships (Note D)		1,677,252		48,900


Expenses
Professional fees		19,436		18,628
Fund management fee, net (Note C)		63,474		115,780
General and administrative expenses		21,626		22,959

		104,536		157,367


NET INCOME (LOSS)	$	1,586,646	$	(105,524)




Net income (loss) allocated to assignees	$	1,570,780	$	(104,469)




Net income (loss) allocated to general partner	$	15,866	$	(1,055)




Net income (loss) per BAC	$	.33	$	(.02)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,

(Unaudited)

Series 33

		2017		2016

Income
Interest income	$	511	$	1,258
Other income		5,329		1,800

		5,840		3,058



Share of income from Operating Partnerships (Note D)		67,454		-


Expenses
Professional fees		13,651		14,835
Fund management fee, net (Note C)		23,109		41,524
General and administrative expenses		13,345		15,875

		50,105		72,234


NET INCOME (LOSS)	$	23,189	$	(69,176)




Net income (loss) allocated to assignees	$	22,957	$	(68,484)




Net income (loss) allocated to general partner	$	232	$	(692)




Net income (loss) per BAC	$	.01	$	(.03)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 34

		2017		2016

Income
Interest income	$	1,448	$	1,114
Other income		1,539		13,230

		2,987		14,344



Share of income from Operating Partnerships (Note D)		-		630,691


Expenses
Professional fees		17,291		18,698
Fund management fee, net (Note C)		32,897		29,061
General and administrative expenses		15,123		18,676

		65,311		66,435


NET INCOME (LOSS)	$	(62,324)	$	578,600




Net income (loss) allocated to assignees	$	(61,701)	$	572,814




Net income (loss) allocated to general partner	$	(623)	$	5,786




Net income (loss) per BAC	$	(.02)	$	.16

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 35

		2017		2016

Income
Interest income	$	9,031	$	6,166
Other income		2,818		4,893

		11,849		11,059



Share of income from Operating Partnerships (Note D)		2,653,528		2,543,187


Expenses
Professional fees		16,632		18,070
Fund management fee, net (Note C)		39,956		33,179
General and administrative expenses		14,895		18,647

		71,483		69,896


NET INCOME (LOSS)	$	2,593,894	$	2,484,350




Net income (loss) allocated to assignees	$	2,567,955	$	2,459,507




Net income (loss) allocated to general partner	$	25,939	$	24,843




Net income (loss) per BAC	$	.78	$	.75

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 36

		2017		2016

Income
Interest income	$	5,764	$	3,772
Other income		3,968		6,425

		9,732		10,197



Share of income from Operating Partnerships (Note D)		-		2,503,252


Expenses
Professional fees		17,448		16,697
Fund management fee, net (Note C)		20,968		(2,956)
General and administrative expenses		12,507		14,229

		50,923		27,970


NET INCOME (LOSS)	$	(41,191)	$	2,485,479




Net income (loss) allocated to assignees	$	(40,779)	$	2,460,624




Net income (loss) allocated to general partner	$	(412)	$	24,855




Net income (loss) per BAC	$	(.02)	$	1.17

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 37

		2017		2016

Income
Interest income	$	4,368	$	2,228
Other income		16,657		4,811

		21,025		7,039



Share of income from Operating Partnerships (Note D)		140,415		1,934,639


Expenses
Professional fees		16,628		13,932
Fund management fee, net (Note C)		27,941		89,661
General and administrative expenses		12,567		15,031

		57,136		118,624


NET INCOME (LOSS)	$	104,304	$	1,823,054




Net income (loss) allocated to assignees	$	103,261	$	1,804,823




Net income (loss) allocated to general partner	$	1,043	$	18,231




Net income (loss) per BAC	$	.04	$	.72

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 38

		2017		2016

Income
Interest income	$	6,938	$	571
Other income		17,566		66,141

		24,504		66,712



Share of income from Operating Partnerships (Note D)		-		1,795,010


Expenses
Professional fees		18,459		18,795
Fund management fee, net (Note C)		44,002		87,297
General and administrative expenses		13,369		15,656

		75,830		121,748


NET INCOME (LOSS)	$	(51,326)	$	1,739,974




Net income (loss) allocated to assignees	$	(50,813)	$	1,722,574




Net income (loss) allocated to general partner	$	(513)	$	17,400




Net income (loss) per BAC	$	(.02)	$	.68

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 39

		2017		2016

Income
Interest income	$	870	$	378
Other income		386		1,210

		1,256		1,588



Share of income from Operating Partnerships (Note D)		17,779		122,100


Expenses
Professional fees		19,295		17,935
Fund management fee, net (Note C)		5,130		46,920
General and administrative expenses		42,679		13,893

		67,104		78,748


NET INCOME (LOSS)	$	(48,069)	$	44,940




Net income (loss) allocated to assignees	$	(47,588)	$	44,491




Net income (loss) allocated to general partner	$	(481)	$	449




Net income (loss) per BAC	$	(.02)	$	.02

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 40

		2017		2016

Income
Interest income	$	923	$	276
Other income		5,172		-

		6,095		276



Share of income from Operating Partnerships (Note D)		588,952		49,000


Expenses
Professional fees		22,111		21,422
Fund management fee, net (Note C)		73,594		97,630
General and administrative expenses		13,758		16,028

		109,463		135,080


NET INCOME (LOSS)	$	485,584	$	(85,804)




Net income (loss) allocated to assignees	$	480,728	$	(84,946)




Net income (loss) allocated to general partner	$	4,856	$	(858)




Net income (loss) per BAC	$	.18	$	(.03)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 41

		2017		2016

Income
Interest income	$	1,480	$	492
Other income		13,908		1,302

		15,388		1,794



Share of income from Operating Partnerships (Note D)		782,887		-


Expenses
Professional fees		23,062		24,561
Fund management fee, net (Note C)		141,487		153,988
General and administrative expenses		17,027		18,513

		181,576		197,062


NET INCOME (LOSS)	$	616,699	$	(195,268)




Net income (loss) allocated to assignees	$	610,532	$	(193,315)




Net income (loss) allocated to general partner	$	6,167	$	(1,953)




Net income (loss) per BAC	$	.21	$	(.07)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 42

		2017		2016

Income
Interest income	$	6,138	$	3,496
Other income		15,960		472

		22,098		3,968



Share of income from Operating Partnerships (Note D)		262,279		-


Expenses
Professional fees		20,336		26,102
Fund management fee, net (Note C)		113,842		120,924
General and administrative expenses		14,961		17,565

		149,139		164,591


NET INCOME (LOSS)	$	135,238	$	(160,623)




Net income (loss) allocated to assignees	$	133,886	$	(159,017)




Net income (loss) allocated to general partner	$	1,352	$	(1,606)




Net income (loss) per BAC	$	.05	$	(.06)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 43

		2017		2016

Income
Interest income	$	5,156	$	3,623
Other income		40,981		1,759

		46,137		5,382



Share of income from Operating Partnerships (Note D)		225,500		-


Expenses
Professional fees		23,379		27,511
Fund management fee, net (Note C)		150,203		135,689
General and administrative expenses		17,057		20,940

		190,639		184,140


NET INCOME (LOSS)	$	80,998	$	(178,758)




Net income (loss) allocated to assignees	$	80,188	$	(176,970)




Net income (loss) allocated to general partner	$	810	$	(1,788)




Net income (loss) per BAC	$	.02	$	(.05)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 44

		2017		2016

Income
Interest income	$	74	$	29
Other income		18,760		16,818

		18,834		16,847



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		24,884		15,786
Fund management fee, net (Note C)		146,356		180,251
General and administrative expenses		14,015		16,293

		185,255		212,330


NET INCOME (LOSS)	$	(166,421)	$	(195,483)




Net income (loss) allocated to assignees	$	(164,757)	$	(193,528)




Net income (loss) allocated to general partner	$	(1,664)	$	(1,955)




Net income (loss) per BAC	$	(.06)	$	(.07)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 45

		2017		2016

Income
Interest income	$	1,752	$	938
Other income		27,833		32,262

		29,585		33,200



Share of income from Operating Partnerships (Note D)		-		-


Expenses
Professional fees		48,168		30,784
Fund management fee, net (Note C)		193,206		166,939
General and administrative expenses		19,978		23,743

		261,352		221,466


NET INCOME (LOSS)	$	(231,767)	$	(188,266)




Net income (loss) allocated to assignees	$	(229,449)	$	(186,383)




Net income (loss) allocated to general partner	$	(2,318)	$	(1,883)




Net income (loss) per BAC	$	(.06)	$	(.05)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF OPERATIONS
Nine Months Ended December 31,
(Unaudited)

Series 46

		2017		2016

Income
Interest income	$	1,273	$	350
Other income		33,728		29,999

		35,001		30,349



Share of income from Operating Partnerships (Note D)		10,994		393,183


Expenses
Professional fees		20,957		21,187
Fund management fee, net (Note C)		139,338		160,841
General and administrative expenses		15,645		18,623

		175,940		200,651


NET INCOME (LOSS)	$	(129,945)	$	222,881




Net income (loss) allocated to assignees	$	(128,646)	$	220,652




Net income (loss) allocated to general partner	$	(1,299)	$	2,229




Net income (loss) per BAC	$	(.04)	$	.07

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2017
(Unaudited)


		Assignees		General Partner		Total


Partners' capital (deficit), April 1, 2017	$	(6,338,126)	$	(7,177,685)	$	(13,515,811)

Contributions		-		1,070,891		1,070,891

Distributions		(420,163)		-		(420,163)

Net income (loss)		8,929,822		90,201		9,020,023


Partners' capital (deficit), December 31, 2017	$	2,171,533	$	(6,016,593)	$	(3,845,060)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2017
(Unaudited)

		Assignees		General Partner		Total

Series 20
Partners' capital (deficit), April 1, 2017	$	(875,631)	$	(320,211)	$	(1,195,842)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(3,170)		(32)		(3,202)


Partners' capital deficit), December 31, 2017	$	(878,801)	$	(320,243)	$	(1,199,044)

		Assignees		General Partner		Total

Series 21
Partners' capital (deficit), April 1, 2017	$	(907,383)	$	(172,752)	$	(1,080,135)

Contributions		-		1,070,891		1,070,891

Distributions		-		-		-

Net income (loss)		9,152		92		9,244


Partners' capital deficit), December 31, 2017	$	(898,231)	$	898,231	$	-

		Assignees		General Partner		Total

Series 22
Partners' capital (deficit), April 1, 2017	$	(2,351,781)	$	(245,052)	$	(2,596,833)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(47,824)		(483)		(48,307)


Partners' capital deficit), December 31, 2017	$	(2,399,605)	$	(245,535)	$	(2,645,140)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2017
(Unaudited)

		Assignees		General Partner		Total

Series 23
Partners' capital (deficit), April 1, 2017	$	(1,131,355)	$	(299,152)	$	(1,430,507)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		941,940		9,515		951,455


Partners' capital (deficit), December 31, 2017	$	(189,415)	$	(289,637)	$	(479,052)

		Assignees		General Partner		Total

Series 24
Partners' capital deficit), April 1, 2017	$	602,161	$	(174,980)	$	427,181

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(61,493)		(621)		(62,114)


Partners' capital deficit), December 31, 2017	$	540,668	$	(175,601)	$	365,067

		Assignees		General Partner		Total

Series 25
Partners' capital deficit), April 1, 2017	$	565,870	$	(220,159)	$	345,711

Contributions		-		-		-

Distributions		(380,117)		-		(380,117)

Net income (loss)		34,062		344		34,406


Partners' capital deficit), December 31, 2017	$	219,815	$	(219,815)	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2017
(Unaudited)

		Assignees		General Partner		Total

Series 26
Partners' capital deficit), April 1, 2017	$	989,245	$	(311,566)	$	677,679

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(14,601)		(147)		(14,748)


Partners' capital deficit), December 31, 2017	$	974,644	$	(311,713)	$	662,931

		Assignees		General Partner		Total

Series 27
Partners' capital deficit), April 1, 2017	$	3,745,499	$	(170,699)	$	3,574,800

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		3,181,308		32,134		3,213,442


Partners' capital deficit), December 31, 2017	$	6,926,807	$	(138,565)	$	6,788,242

		Assignees		General Partner		Total

Series 28
Partners' capital deficit), April 1, 2017	$	1,086,195	$	(273,712)	$	812,483

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(55,837)		(564)		(56,401)


Partners' capital deficit), December 31, 2017	$	1,030,358	$	(274,276)	$	756,082

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2017
(Unaudited)

		Assignees		General Partner		Total

Series 29
Partners' capital deficit), April 1, 2017	$	(2,771,714)	$	(370,065)	$	(3,141,779)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(91,719)		(926)		(92,645)


Partners' capital deficit), December 31, 2017	$	(2,863,433)	$	(370,991)	$	(3,234,424)

		Assignees		General Partner		Total

Series 30
Partners' capital deficit), April 1, 2017	$	(1,235,163)	$	(241,826)	$	(1,476,989)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		244,884		2,474		247,358


Partners' capital deficit), December 31, 2017	$	(990,279)	$	(239,352)	$	(1,229,631)

		Assignees		General Partner		Total

Series 31
Partners' capital deficit), April 1, 2017	$	2,365,549	$	(359,195)	$	2,006,354

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(53,434)		(540)		(53,974)


Partners' capital deficit), December 31, 2017	$	2,312,115	$	(359,735)	$	1,952,380

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2017
(Unaudited)

		Assignees		General Partner		Total

Series 32
Partners' capital deficit), April 1, 2017	$	(1,512,826)	$	(425,749)	$	(1,938,575)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		1,570,780		15,866		1,586,646


Partners' capital deficit), December 31, 2017	$	57,954	$	(409,883)	$	(351,929)

		Assignees		General Partner		Total

Series 33
Partners' capital deficit), April 1, 2017	$	(687,215)	$	(235,002)	$	(922,217)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		22,957		232		23,189


Partners' capital deficit), December 31, 2017	$	(664,258)	$	(234,770)	$	(899,028)

		Assignees		General Partner		Total

Series 34
Partners' capital deficit), April 1, 2017	$	(2,048,404)	$	(324,115)	$	(2,372,519)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(61,701)		(623)		(62,324)


Partners' capital deficit), December 31, 2017	$	(2,110,105)	$	(324,738)	$	(2,434,843)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2017
(Unaudited)

		Assignees		General Partner		Total

Series 35
Partners' capital deficit), April 1, 2017	$	2,104,402	$	(263,617)	$	1,840,785

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		2,567,955		25,939		2,593,894


Partners' capital deficit), December 31, 2017	$	4,672,357	$	(237,678)	$	4,434,679

		Assignees		General Partner		Total

Series 36
Partners' capital deficit), April 1, 2017	$	2,194,117	$	(158,305)	$	2,035,812

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(40,779)		(412)		(41,191)


Partners' capital deficit), December 31, 2017	$	2,153,338	$	(158,717)	$	1,994,621

		Assignees		General Partner		Total

Series 37
Partners' capital deficit), April 1, 2017	$	130,312	$	(216,426)	$	(86,114)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		103,261		1,043		104,304


Partners' capital deficit), December 31, 2017	$	233,573	$	(215,383)	$	18,190

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2017
(Unaudited)

		Assignees		General Partner		Total

Series 38
Partners' capital deficit), April 1, 2017	$	1,723,417	$	(203,081)	$	1,520,336

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(50,813)		(513)		(51,326)


Partners' capital deficit), December 31, 2017	$	1,672,604	$	(203,594)	$	1,469,010

		Assignees		General Partner		Total

Series 39
Partners' capital deficit), April 1, 2017	$	283,677	$	(195,562)	$	88,115

Contributions		-		-		-

Distributions		(40,046)		-		(40,046)

Net income (loss)		(47,588)		(481)		(48,069)


Partners' capital deficit), December 31, 2017	$	196,043	$	(196,043)	$	-

		Assignees		General Partner		Total

Series 40
Partners' capital deficit), April 1, 2017	$	(2,186,540)	$	(249,302)	$	(2,435,842)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		480,728		4,856		485,584


Partners' capital deficit), December 31, 2017	$	(1,705,812)	$	(244,446)	$	(1,950,258)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2017
(Unaudited)

		Assignees		General Partner		Total

Series 41
Partners' capital deficit), April 1, 2017	$	(2,687,899)	$	(278,836)	$	(2,966,735)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		610,532		6,167		616,699


Partners' capital deficit), December 31, 2017	$	(2,077,367)	$	(272,669)	$	(2,350,036)

		Assignees		General Partner		Total

Series 42
Partners' capital deficit), April 1, 2017	$	1,303,097	$	(230,209)	$	1,072,888

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		133,886		1,352		135,238


Partners' capital deficit), December 31, 2017	$	1,436,983	$	(228,857)	$	1,208,126

		Assignees		General Partner		Total

Series 43
Partners' capital deficit), April 1, 2017	$	(111,017)	$	(325,890)	$	(436,907)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		80,188		810		80,998


Partners' capital deficit), December 31, 2017	$	(30,829)	$	(325,080)	$	(355,909)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine Months Ended December 31, 2017
(Unaudited)

		Assignees		General Partner		Total

Series 44
Partners' capital deficit), April 1, 2017	$	(2,255,686)	$	(262,631)	$	(2,518,317)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(164,757)		(1,664)		(166,421)


Partners' capital deficit), December 31, 2017	$	(2,420,443)	$	(264,295)	$	(2,684,738)

		Assignees		General Partner		Total

Series 45
Partners' capital deficit), April 1, 2017	$	(1,712,062)	$	(374,528)	$	(2,086,590)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(229,449)		(2,318)		(231,767)


Partners' capital deficit), December 31, 2017	$	(1,941,511)	$	(376,846)	$	(2,318,357)

		Assignees		General Partner		Total

Series 46
Partners' capital deficit), April 1, 2017	$	(956,991)	$	(275,063)	$	(1,232,054)

Contributions		-		-		-

Distributions		-		-		-

Net income (loss)		(128,646)		(1,299)		(129,945)


Partners' capital deficit), December 31, 2017	$	(1,085,637)	$	(276,362)	$	(1,361,999)

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	9,020,023	$	11,174,754
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(11,305,952)		(13,992,959)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		(46,259)		29,567
Decrease (Increase) in other assets		1,285		-
(Decrease) Increase in accounts payable affiliates		(6,979,847)		(7,429,230)


Net cash (used in) provided by operating activities		(9,310,750)		(10,217,868)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		(19,011)		-
Proceeds from the disposition of Operating Partnerships		11,061,047		13,370,012


Net cash (used in) provided by investing activities		11,042,036		13,370,012


Cash flows from financing activities:

Distributions		(420,163)		-


Net cash used in financing activities		(420,163)		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		1,311,123		3,152,144


Cash and cash equivalents, beginning		27,209,997		21,728,069


Cash and cash equivalents, ending	$	28,521,120	$	24,880,213

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	1,070,891	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	127,351	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 20

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(3,202)	$	85,419
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(42,000)		(138,000)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		2,000		3,000
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		16,607		19,308


Net cash (used in) provided by operating activities		(26,595)		(30,273)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		42,000		138,000


Net cash (used in) provided by investing activities		42,000		138,000


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		15,405		107,727


Cash and cash equivalents, beginning		271,060		180,896


Cash and cash equivalents, ending	$	286,465	$	288,623

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 21

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	9,244	$	(32,860)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(67,000)		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		(250,346)		(141,846)


Net cash (used in) provided by operating activities		(308,102)		(174,706)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		67,000		-


Net cash (used in) provided by investing activities		67,000		-


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(241,102)		(174,706)


Cash and cash equivalents, beginning		241,102		425,168


Cash and cash equivalents, ending	$	-	$	250,462

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	1,070,891	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 22

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(48,307)	$	(54,497)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		-		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		21,909		21,906


Net cash (used in) provided by operating activities		(26,398)		(32,591)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		-		-


Net cash (used in) provided by investing activities		-		-


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(26,398)		(32,591)


Cash and cash equivalents, beginning		252,064		295,650


Cash and cash equivalents, ending	$	225,666	$	263,059

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 23

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	951,455	$	(59,607)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(989,962)		(3,550)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		(471,882)		28,092


Net cash (used in) provided by operating activities		(510,389)		(35,065)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		989,962		3,550


Net cash (used in) provided by investing activities		989,962		3,550


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		479,573		(31,515)


Cash and cash equivalents, beginning		659,167		219,677


Cash and cash equivalents, ending	$	1,138,740	$	188,162

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 24

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(62,114)	$	(59,447)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		-		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		-		-


Net cash (used in) provided by operating activities		(62,114)		(59,447)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		-		-


Net cash (used in) provided by investing activities		-		-


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(62,114)		(59,447)


Cash and cash equivalents, beginning		427,181		502,552


Cash and cash equivalents, ending	$	365,067	$	443,105

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 25

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	34,406	$	(33,866)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(97,399)		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		1,250		-
(Decrease) Increase in accounts payable affiliates		-		-


Net cash (used in) provided by operating activities		(61,743)		(33,866)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		97,399		-


Net cash (used in) provided by investing activities		97,399		-


Cash flows from financing activities:

Distributions		(380,117)		-


Net cash used in financing activities		(380,117)		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(344,461)		(33,866)


Cash and cash equivalents, beginning		344,461		395,797


Cash and cash equivalents, ending	$	-	$	361,931

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 26

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(14,748)	$	(89,163)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(80,000)		(18,500)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		(960)
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		-		-


Net cash (used in) provided by operating activities		(94,748)		(108,623)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		80,000		18,500


Net cash (used in) provided by investing activities		80,000		18,500


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(14,748)		(90,123)


Cash and cash equivalents, beginning		677,679		809,362


Cash and cash equivalents, ending	$	662,931	$	719,239

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 27

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	3,213,442	$	2,833,826
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(3,291,567)		(3,016,000)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		(31,673)		4,000
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		-		-


Net cash (used in) provided by operating activities		(109,798)		(178,174)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		3,291,567		3,016,000


Net cash (used in) provided by investing activities		3,291,567		3,016,000


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		3,181,769		2,837,826


Cash and cash equivalents, beginning		3,606,473		899,636


Cash and cash equivalents, ending	$	6,788,242	$	3,737,462

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 28

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(56,401)	$	(42,087)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		-		(5,000)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		(7,500)
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		-		-


Net cash (used in) provided by operating activities		(56,401)		(54,587)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		-		5,000


Net cash (used in) provided by investing activities		-		5,000


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(56,401)		(49,587)


Cash and cash equivalents, beginning		812,483		884,427


Cash and cash equivalents, ending	$	756,082	$	834,840

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-





	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,

(Unaudited)

Series 29

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(92,645)	$	(138,179)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		-		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		61,640		(91,860)


Net cash (used in) provided by operating activities		(31,005)		(230,039)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		-		-


Net cash (used in) provided by investing activities		-		-


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(31,005)		(230,039)


Cash and cash equivalents, beginning		345,648		618,758


Cash and cash equivalents, ending	$	314,643	$	388,719

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 30

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	247,358	$	(76,092)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(265,984)		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		41,872		52,263


Net cash (used in) provided by operating activities		23,246		(23,829)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		226,021		-


Net cash (used in) provided by investing activities		226,021		-


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		249,267		(23,829)


Cash and cash equivalents, beginning		270,126		304,293


Cash and cash equivalents, ending	$	519,393	$	280,464

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 31

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(53,974)	$	640,931
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(45,000)		(791,947)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		(3,000)
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		-		-


Net cash (used in) provided by operating activities		(98,974)		(154,016)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		45,000		169,000


Net cash provided by investing activities		45,000		169,000


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(53,974)		14,984


Cash and cash equivalents, beginning		2,047,648		1,351,761


Cash and cash equivalents, ending	$	1,993,674	$	1,366,745

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 32

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	1,586,646	$	(105,524)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(1,677,252)		(48,900)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		(2,000)		(4,500)
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		(1,108,083)		(627,550)


Net cash (used in) provided by operating activities		(1,200,689)		(786,474)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		1,677,252		48,900


Net cash provided by investing activities		1,677,252		48,900


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		476,563		(737,574)


Cash and cash equivalents, beginning		837,185		1,061,685


Cash and cash equivalents, ending	$	1,313,748	$	324,111

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 33

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	23,189	$	(69,176)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(67,454)		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		48,449		(850,806)


Net cash (used in) provided by operating activities		4,184		(919,982)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		950		-


Net cash (used in) provided by investing activities		950		-


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		5,134		(919,982)


Cash and cash equivalents, beginning		337,765		1,266,455


Cash and cash equivalents, ending	$	342,899	$	346,473

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 34

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(62,324)	$	578,600
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		-		(630,691)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		4,230
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		(393,594)		(366,202)


Net cash (used in) provided by operating activities		(455,918)		(414,063)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		-		630,691


Net cash (used in) provided by investing activities		-		630,691


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(455,918)		216,628


Cash and cash equivalents, beginning		849,078		674,173


Cash and cash equivalents, ending	$	393,160	$	890,801

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 35

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	2,593,894	$	2,484,350
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(2,653,528)		(2,543,187)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		1,770
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		(551,982)		(1,386,580)


Net cash (used in) provided by operating activities		(611,616)		(1,443,647)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		2,653,528		2,543,187


Net cash (used in) provided by investing activities		2,653,528		2,543,187


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		2,041,912		1,099,540


Cash and cash equivalents, beginning		2,392,767		1,693,223


Cash and cash equivalents, ending	$	4,434,679	$	2,792,763

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 36

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(41,191)	$	2,485,479
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		-		(2,503,252)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		(2,500)
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		(767,505)		(532,657)


Net cash (used in) provided by operating activities		(808,696)		(552,930)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		-		2,503,252


Net cash (used in) provided by investing activities		-		2,503,252


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(808,696)		1,950,322


Cash and cash equivalents, beginning		2,934,317		979,340


Cash and cash equivalents, ending	$	2,125,621	$	2,929,662

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 37

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	104,304	$	1,823,054
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(140,415)		(1,934,639)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		(1,538,773)		100,179


Net cash (used in) provided by operating activities		(1,574,884)		(11,406)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		1,977		1,934,639


Net cash (used in) provided by investing activities		1,977		1,934,639


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,572,907)		1,923,233


Cash and cash equivalents, beginning		2,096,039		340,689


Cash and cash equivalents, ending	$	523,132	$	2,263,922

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 38

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(51,326)	$	1,739,974
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		-		(1,795,010)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		(6,543)		(4,779)
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		(1,515,985)		76,230


Net cash (used in) provided by operating activities		(1,573,854)		16,415


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		-		1,795,010


Net cash (used in) provided by investing activities		-		1,795,010


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,573,854)		1,811,425


Cash and cash equivalents, beginning		3,042,864		333,474


Cash and cash equivalents, ending	$	1,469,010	$	2,144,899

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 39

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(48,069)	$	44,940
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(17,779)		(122,100)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		(6,543)		(4,894)
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		(1,154,240)		(51,654)


Net cash (used in) provided by operating activities		(1,226,631)		(133,708)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		17,779		122,100


Net cash (used in) provided by investing activities		17,779		122,100


Cash flows from financing activities:

Distributions		(40,046)		-


Net cash used in financing activities		(40,046)		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,248,898)		(11,608)


Cash and cash equivalents, beginning		1,248,898		313,691


Cash and cash equivalents, ending	$	-	$	302,083

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 40

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	485,584	$	(85,804)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(588,952)		(49,000)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		42,200
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		(8,631)		(180,817)


Net cash (used in) provided by operating activities		(111,999)		(273,421)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		588,952		49,000

		-		-
Net cash (used in) provided by investing activities		588,952		49,000


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		476,953		(224,421)


Cash and cash equivalents, beginning		248,318		510,705


Cash and cash equivalents, ending	$	725,271	$	286,284

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 41

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	616,699	$	(195,268)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(782,887)		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		(2,500)		-
Decrease (Increase) in other assets		1,218		-
(Decrease) Increase in accounts payable affiliates		84,650		68,444


Net cash (used in) provided by operating activities		(82,820)		(126,824)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		782,887		-


Net cash (used in) provided by investing activities		782,887		-


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		700,067		(126,824)


Cash and cash equivalents, beginning		322,902		331,029


Cash and cash equivalents, ending	$	1,022,969	$	204,205

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 42

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	135,238	$	(160,623)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(262,279)		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		1,000		-
Decrease (Increase) in other assets		(1,183)		-
(Decrease) Increase in accounts payable affiliates		-		(2,141,040)


Net cash (used in) provided by operating activities		(127,224)		(2,301,663)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		(9,503)		-
Proceeds from the disposition of Operating Partnerships		262,279		-


Net cash (used in) provided by investing activities		252,776		-


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		125,552		(2,301,663)


Cash and cash equivalents, beginning		1,072,528		3,412,757


Cash and cash equivalents, ending	$	1,198,080	$	1,111,094

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	63,676	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 43

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	80,998	$	(178,758)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(225,500)		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		170,998		(2,029,791)


Net cash (used in) provided by operating activities		26,496		(2,208,549)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		(9,508)		-
Proceeds from the disposition of Operating Partnerships		225,500		-


Net cash (used in) provided by investing activities		215,992		-


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		242,488		(2,208,549)


Cash and cash equivalents, beginning		351,638		2,886,991


Cash and cash equivalents, ending	$	594,126	$	678,442

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	63,675	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 44

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(166,421)	$	(195,483)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		-		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		184,956		192,398


Net cash (used in) provided by operating activities		18,535		(3,085)


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		-		-


Net cash (used in) provided by investing activities		-		-


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		18,535		(3,085)


Cash and cash equivalents, beginning		66,324		44,503


Cash and cash equivalents, ending	$	84,859	$	41,418

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 45

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(231,767)	$	(188,266)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		-		-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		2,500
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		156,418		228,968


Net cash (used in) provided by operating activities		(75,349)		43,202


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		-		-


Net cash (used in) provided by investing activities		-		-


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(75,349)		43,202


Cash and cash equivalents, beginning		803,153		748,100


Cash and cash equivalents, ending	$	727,804	$	791,302

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Nine Months Ended December 31,
(Unaudited)

Series 46

		2017		2016


Cash flows from operating activities:

Net income (loss)	$	(129,945)	$	222,881
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of (income) from Operating Partnerships		(10,994)		(393,183)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		-		-
Decrease (Increase) in other assets		-		-
(Decrease) Increase in accounts payable affiliates		(6,325)		183,785


Net cash (used in) provided by operating activities		(147,264)		13,483


Cash flows from investing activities:

Capital contributions paid to Operating Partnerships		-		-
Proceeds from the disposition of Operating Partnerships		10,994		393,183


Net cash (used in) provided by investing activities		10,994		393,183


Cash flows from financing activities:

Distributions		-		-


Net cash used in financing activities		-		-


INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(136,270)		406,666


Cash and cash equivalents, beginning		651,129		243,277


Cash and cash equivalents, ending	$	514,859	$	649,943

Supplemental schedule of noncash investing and financing activities:

	The general partner's equity balance was increased and accounts payable affiliates were reduced as a result of forgiveness of debt with an affiliate of the general partner.	$	-	$	-




	The Fund applied notes receivable and advances to its capital contribution obligation to Operating Partnerships.	$	-	$	-

The accompanying notes are an integral part of this condensed statement

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS
December 31, 2017
(Unaudited)

NOTE A - ORGANIZATION

Boston Capital Tax Credit Fund IV L.P. (the "Fund") was organized under the laws of the State of Delaware as of October 5, 1993, for the purpose of acquiring, holding, and disposing of limited partnership interests in operating partnerships which will acquire, develop, rehabilitate, operate and own newly constructed, existing or rehabilitated low-income apartment complexes ("Operating Partnerships"). Effective as of June 1, 2001 there was a restructuring and, as a result, the Fund's general partner was reorganized as follows. The general partner of the Fund continues to be Boston Capital Associates IV L.P., a Delaware limited partnership. The general partner of the general partner of the Fund is BCA Associates Limited Partnership, a Massachusetts limited partnership, whose sole general partner is C&M Management, Inc., a Massachusetts corporation and whose limited partners are Herbert F. Collins and John P. Manning. Mr. Manning is the principal of Boston Capital Partners, Inc. The limited partner of the general partner of the Fund is Capital Investment Holdings, a general partnership whose partners are various officers and employees of Boston Capital Partners, Inc. and its affiliates. The assignor limited partner is BCTC IV Assignor Corp., a Delaware corporation which is now wholly-owned by John P. Manning.

Pursuant to the Securities Act of 1933, the Fund filed a Form S-11 Registration Statement with the Securities and Exchange Commission, effective December 16, 1993, which covered the offering (the "Public Offering") of the Fund's beneficial assignee certificates ("BACs") representing assignments of units of the beneficial interest of the limited partnership interest of the assignor limited partner. The Fund registered 30,000,000 BACs at $10 per BAC for sale to the public in one or more series. On April 18, 1996, an amendment to Form S-11 which registered an additional 10,000,000 BACs for sale to the public in one or more series became effective. On April 2, 1998, an amendment to Form S-11, which registered an additional 25,000,000 BACs for sale to the public in one or more series, became effective. On August 31, 1999, an amendment to Form S-11, which registered an additional 8,000,000 BACs for sale to the public in one or more series, became effective. On July 26, 2000, an amendment to Form S-11, which registered an additional 7,500,000 BACs for sale to the public in one or more series, became effective. On July 24, 2001, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public in one or more series, became effective. On July 24, 2002, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public, became effective. On July 1, 2003, an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public, became effective.

Below is a summary of the BACs sold and total equity raised, by series, as of the date of this filing:

Series	Closing Date	BACs Sold	Equity Raised
Series 20	June 24, 1994	3,866,700	$38,667,000
Series 21	December 31, 1994	1,892,700	$18,927,000
Series 22	December 28, 1994	2,564,400	$25,644,000
Series 23	June 23, 1995	3,336,727	$33,366,000
Series 24	September 22, 1995	2,169,878	$21,697,000
Series 25	December 29, 1995	3,026,109	$30,248,000
Series 26	June 25, 1996	3,995,900	$39,959,000
Series 27	September 17, 1996	2,460,700	$24,607,000
Series 28	January 29, 1997	4,000,738	$39,999,000

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE A - ORGANIZATION (continued)

Series	Closing Date	BACs Sold	Equity Raised
Series 29	June 10, 1997	3,991,800	$39,918,000
Series 30	September 10, 1997	2,651,000	$26,490,750
Series 31	January 18, 1998	4,417,857	$44,057,750
Series 32	June 23, 1998	4,754,198	$47,431,000
Series 33	September 21, 1998	2,636,533	$26,362,000
Series 34	February 11, 1999	3,529,319	$35,273,000
Series 35	June 28, 1999	3,300,463	$33,004,630
Series 36	September 28, 1999	2,106,838	$21,068,375
Series 37	January 28, 2000	2,512,500	$25,125,000
Series 38	July 31, 2000	2,543,100	$25,431,000
Series 39	January 31, 2001	2,292,151	$22,921,000
Series 40	July 31, 2001	2,630,256	$26,269,256
Series 41	January 31, 2002	2,891,626	$28,916,260
Series 42	July 31, 2002	2,744,262	$27,442,620
Series 43	December 31, 2002	3,637,987	$36,379,870
Series 44	April 30, 2003	2,701,973	$27,019,730
Series 45	September 16, 2003	4,014,367	$40,143,670
Series 46	December 19, 2003	2,980,998	$29,809,980

The Fund concluded its public offering of BACs in the Fund on December 19, 2003.

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements herein as of December 31, 2017 and for the three and nine months then ended have been prepared by the Fund, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. The Fund accounts for its investments in Operating Partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. Costs incurred by the Fund in acquiring the investments in the Operating Partnerships are capitalized to the investment account.

The Fund's accounting and financial reporting policies are in conformity with generally accepted accounting principles and include adjustments in interim periods considered necessary for a fair presentation of the results of operations. Such adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to these rules and regulations. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Fund's Annual Report on Form 10-K for the fiscal year ended March 31, 2017.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS

The Fund has entered into several transactions with various affiliates of the general partner of the Fund, including Boston Capital Holdings Limited Partnership, Boston Capital Securities, Inc., and Boston Capital Asset Management Limited Partnership as follows:

An annual fund management fee of .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships has been accrued to Boston Capital Asset Management Limited Partnership. Since reporting fees collected by the various series were added to reserves and not paid to Boston Capital Asset Management Limited Partnership, the amounts accrued are not net of reporting fees received. The fund management fees accrued for the quarters ended December 31, 2017 and 2016, are as follows:

	2017	2016
Series 20	$ 5,536	$ 5,535
Series 21	2,216	2,718
Series 22	7,303	7,302
Series 23	5,556	9,270
Series 24	12,588	12,588
Series 25	-	5,934
Series 26	15,609	22,545
Series 27	8,915	25,794
Series 28	8,844	8,844
Series 29	20,547	20,547
Series 30	12,609	17,421
Series 31	19,092	37,521
Series 32	23,234	43,080
Series 33	15,654	16,398
Series 34	12,365	16,707
Series 35	10,653	22,065
Series 36	7,626	7,626
Series 37	10,957	26,424
Series 38	18,234	34,779
Series 39	1,712	13,623
Series 40	26,594	33,579
Series 41	49,564	56,148
Series 42	40,788	42,870
Series 43	55,612	57,693
Series 44	57,825	57,825
Series 45	70,359	70,800
Series 46	52,299	59,021
	$572,291	$734,657

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS (continued)

The fund management fees paid for the nine months ended December 31, 2017 and 2016 are as follows:

	2017	2016
Series 21	$ 258,000	$ 150,000
Series 23	488,550	-
Series 24	37,764	37,764
Series 25	11,374	17,802
Series 26	60,699	70,531
Series 27	33,438	90,648
Series 28	26,532	35,835
Series 29	-	153,500
Series 31	62,490	112,563
Series 32	1,184,057	756,790
Series 33	-	900,000
Series 34	430,691	291,000
Series 35	597,597	1,460,603
Series 36	790,383	571,611
Series 37	1,574,732	-
Series 38	1,570,687	32,421
Series 39	938,915	102,774
Series 40	93,700	287,722
Series 41	70,500	100,000
Series 42	126,528	2,269,650
Series 43	-	2,202,870
Series 46	163,222	-
	$8,519,859	$9,644,084

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At December 31, 2017 and 2016, the Fund has limited partnership interests in 179 and 219 Operating Partnerships, respectively, which own or are constructing apartment complexes.

The breakdown of Operating Partnerships within the Fund at December 31, 2017 and 2016 are as follows:

	2017	2016
Series 20	2	3
Series 21	-	2
Series 22	3	3
Series 23	3	5
Series 24	6	6
Series 25	-	4
Series 26	9	13
Series 27	3	5
Series 28	5	5
Series 29	8	8
Series 30	6	8
Series 31	8	10
Series 32	6	8
Series 33	4	5
Series 34	4	4
Series 35	2	4
Series 36	3	3
Series 37	1	3
Series 38	4	6
Series 39	-	3
Series 40	9	11
Series 41	14	18
Series 42	13	15
Series 43	18	19
Series 44	7	7
Series 45	27	27
Series 46	14	14
	179	219

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS - (continued)

Under the terms of the Fund's investment in each Operating Partnership, the Fund is required to make capital contributions to the Operating Partnerships. These contributions are payable in installments over several years upon each Operating Partnership achieving specified levels of construction and/or operations. The contributions payable at December 31, 2017 and 2016, are as follows:

	2017	2016
Series 29	$ 8,235	$ 8,235
Series 30	65,176	105,139
Series 31	66,294	66,294
Series 32	1,229	1,229
Series 33	2,650	69,154
Series 37	-	138,438
Series 40	102	102
Series 41	100	100
Series 42	254	73,433
Series 43	26,082	99,265
Series 45	16,724	16,724
	$186,846	$578,113

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS - (continued)

During the nine months ended December 31, 2017 the Fund disposed of thirty Operating Partnerships. A summary of the dispositions by Series for December 31, 2017 is as follows:

	Operating Partnership Interest Transferred	Sale of Underlying Operating Partnership	Fund Proceeds from Disposition *		Gain on Disposition

Series 20	1	-	$	42,000	$	42,000
Series 21	2	-		67,000		67,000
Series 23	-	1		989,962		989,962
Series 25	4	-		97,399		97,399
Series 26	4	-		80,000		80,000
Series 27	1	1		3,291,567		3,291,567
Series 30	1	1		226,021		265,984
Series 31	2	-		45,000		45,000
Series 32	-	1		1,677,252		1,677,252
Series 33	1	-		950		67,454
Series 35	1	-		2,653,528		2,653,528
Series 37	1	-		1,977		140,415
Series 39	1	-		17,779		17,779
Series 40	1	-		588,952		588,952
Series 41	3	-		782,887		782,887
Series 42	2	-		262,279		262,279
Series 43	1	-		225,500		225,500
Series 46	-	-		10,994		10,994
Total	26	4	$	11,061,047	$	11,305,952

* Fund proceeds from disposition does not include $39,963, $66,504 and $138,438 which was due to a writeoff of capital contribution payable as of December 31, 2017, for Series 30, Series 33 and Series 37, respectively.

The gain described above is for financial statement purposes only. There are significant differences between the equity method of accounting and the tax reporting of income and losses from Operating Partnership investments. The largest difference is the ability, for tax purposes, to deduct losses in excess of the Fund's investment in the Operating Partnership. As a result, the amount of gain recognized for tax purposes may be significantly higher than the gain recorded in the financial statements.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

During the nine months ended December 31, 2016 the Fund disposed of thirty-nine Operating Partnerships. A summary of the dispositions by Series for December 31, 2016 is as follows:

	Operating Partnership Interest Transferred	Sale of Underlying Operating Partnership	Fund Proceeds from Disposition *		Gain on Disposition

Series 20	-	1	$	138,000	$	138,000
Series 23	1	-		3,550		3,550
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	-		169,000		791,947
Series 32	2	-		48,900		48,900
Series 34	3	-		630,691		630,691
Series 35	1	1		2,543,187		2,543,187
Series 36	3	1		2,503,252		2,503,252
Series 37	3	-		1,934,639		1,934,639
Series 38	1	1		1,795,010		1,795,010
Series 39	4	-		122,100		122,100
Series 40	3	-		49,000		49,000
Series 44	-	1		-		-
Sereis 45	1	-		-		-
Series 46	-	1		393,183		393,183
Total	32	7	$	13,370,012	$	13,992,959

* Fund proceeds from disposition does not include $622,947 recorded as a receivable as of December 31, 2016, for Series 31.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

The Fund's fiscal year ends March 31st for each year, while all the Operating Partnerships' fiscal years are the calendar year. Pursuant to the provisions of each Operating Partnership Agreement, financial results for each of the Operating Partnerships are provided to the Fund within 45 days after the close of each Operating Partnership's quarterly period. Accordingly, the current financial results available for the Operating Partnerships are for the nine months ended September 30, 2017.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

		2017	2016

Revenues
	Rental	$ 39,192,976	$ 51,924,209
	Interest and other	1,235,063	2,034,484
		40,428,039	53,958,693

Expenses
	Interest	6,754,119	9,129,281
	Depreciation and amortization	10,698,194	14,396,782
	Operating expenses	28,924,546	37,800,040
		46,376,859	61,326,103

NET LOSS		$ (5,948,820)	$ (7,367,410)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (5,889,331)	$ (7,293,736)

Net loss allocated to other Partners		$ (59,489)	$ (73,674)

* Amounts include $(5,889,331) and $(7,293,736) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued. However, the Fund recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 20

		2017	2016
Revenues
	Rental	$ 352,045	$ 467,857
	Interest and other	24,048	25,198
		376,093	493,055

Expenses
	Interest	32,617	50,048
	Depreciation and amortization	91,765	122,081
	Operating expenses	315,661	371,567
		440,043	543,696

NET LOSS		$ (63,950)	$ (50,641)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (63,310)	$ (50,135)

Net loss allocated to other Partners		$ (640)	$ (506)

* Amounts include $(63,310) and $(50,135) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 21

		2017	2016
Revenues
	Rental	$ -	$ 379,750
	Interest and other	-	2,462
		-	382,212

Expenses
	Interest	-	36,545
	Depreciation and amortization	-	62,275
	Operating expenses	-	284,189
		-	383,009

NET LOSS		$ -	$ (797)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ -	$ (789)

Net loss allocated to other Partners		$ -	$ (8)

* Amounts include $- and $(789) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 22

		2017	2016
Revenues
	Rental	$ 382,584	$ 380,419
	Interest and other	13,663	15,355
		396,247	395,774

Expenses
	Interest	34,025	38,301
	Depreciation and amortization	103,504	84,013
	Operating expenses	311,606	322,022
		449,135	444,336

NET LOSS		$ (52,888)	$ (48,562)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (52,359)	$ (48,076)

Net loss allocated to other Partners		$ (529)	$ (486)

* Amounts include $(52,359) and $(48,076) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 23

		2017	2016
Revenues
	Rental	$ 316,873	$1,404,840
	Interest and other	15,894	48,308
		332,767	1,453,148

Expenses
	Interest	18,061	114,138
	Depreciation and amortization	67,348	468,885
	Operating expenses	263,411	1,146,498
		348,820	1,729,521

NET LOSS		$ (16,053)	$ (276,373)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (15,892)	$ (273,608)

Net loss allocated to other Partners		$ (161)	$ (2,765)

* Amounts include $(15,892) and $(273,608) for 2017 and 2016, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 24

		2017	2016
Revenues
	Rental	$ 768,883	$ 770,493
	Interest and other	15,362	14,924
		784,245	785,417

Expenses
	Interest	67,689	68,965
	Depreciation and amortization	211,044	205,010
	Operating expenses	620,298	606,482
		899,031	880,457

NET LOSS		$ (114,786)	$ (95,040)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (113,638)	$ (94,090)

Net loss allocated to other Partners		$ (1,148)	$ (950)

* Amounts include $(113,638) and $(94,090) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 25

		2017	2016
Revenues
	Rental	$ -	$ 644,357
	Interest and other	-	20,795
		-	665,152

Expenses
	Interest	-	76,186
	Depreciation and amortization	-	121,323
	Operating expenses	-	494,613
		-	692,122

NET LOSS		$ -	$ (26,970)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ -	$ (26,700)

Net loss allocated to other Partners		$ -	$ (270)

* Amounts include $- and $(26,700) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 26

		2017	2016
Revenues
	Rental	$ 1,258,324	$ 1,680,959
	Interest and other	22,706	37,896
		1,281,030	1,718,855

Expenses
	Interest	208,522	272,097
	Depreciation and amortization	321,930	432,391
	Operating expenses	1,099,558	1,446,677
		1,630,010	2,151,165

NET LOSS		$ (348,980)	$ (432,310)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (345,490)	$ (427,987)

Net loss allocated to other Partners		$ (3,490)	$ (4,323)

* Amounts include $(345,490) and $(427,987) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 27

		2017	2016
Revenues
	Rental	$ 563,566	$ 2,048,745
	Interest and other	7,923	9,002
		571,489	2,057,747

Expenses
	Interest	32,644	363,382
	Depreciation and amortization	165,370	455,020
	Operating expenses	457,051	1,396,897
		655,065	2,215,299

NET LOSS		$ (83,576)	$ (157,552)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (82,740)	$ (155,976)

Net loss allocated to other Partners		$ (836)	$ (1,576)

* Amounts include $(82,740) and $(155,976) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 28

		2017	2016
Revenues
	Rental	$ 751,710	$ 736,324
	Interest and other	18,953	14,925
		770,663	751,249

Expenses
	Interest	122,273	113,463
	Depreciation and amortization	169,333	173,079
	Operating expenses	587,874	655,453
		879,480	941,995

NET LOSS		$ (108,817)	$ (190,746)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (107,729)	$ (188,839)

Net loss allocated to other Partners		$ (1,088)	$ (1,907)

* Amounts include $(107,729) and $(188,839) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 29

		2017	2016
Revenues
	Rental	$ 1,311,305	$ 1,423,670
	Interest and other	126,151	108,448
		1,437,456	1,532,118

Expenses
	Interest	295,053	307,632
	Depreciation and amortization	371,636	367,084
	Operating expenses	1,166,408	1,153,171
		1,833,097	1,827,887

NET LOSS		$ (395,641)	$ (295,769)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (391,685)	$ (292,811)

Net loss allocated to other Partners		$ (3,956)	$ (2,958)

* Amounts include $(391,685) and $(292,811) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 30

		2017	2016
Revenues
	Rental	$ 772,562	$ 1,124,928
	Interest and other	18,959	81,835
		791,521	1,206,763

Expenses
	Interest	70,220	132,921
	Depreciation and amortization	217,874	303,986
	Operating expenses	606,608	927,999
		894,702	1,364,906

NET LOSS		$ (103,181)	$ (158,143)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (102,149)	$ (156,562)

Net loss allocated to other Partners		$ (1,032)	$ (1,581)

* Amounts include $(102,149) and $(156,562) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 31

		2017	2016
Revenues
	Rental	$ 1,132,079	$ 2,384,452
	Interest and other	33,083	188,273
		1,165,162	2,572,725

Expenses
	Interest	107,647	236,725
	Depreciation and amortization	385,046	707,858
	Operating expenses	1,013,004	1,911,268
		1,505,697	2,855,851

NET LOSS		$ (340,535)	$ (283,126)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (337,130)	$ (280,295)

Net loss allocated to other Partners		$ (3,405)	$ (2,831)

* Amounts include $(337,130) and $(280,295) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 32

		2017	2016
Revenues
	Rental	$ 1,475,541	$ 2,468,262
	Interest and other	35,824	278,117
		1,511,365	2,746,379

Expenses
	Interest	240,025	388,448
	Depreciation and amortization	455,816	779,977
	Operating expenses	1,192,506	2,010,447
		1,888,347	3,178,872

NET LOSS		$ (376,982)	$ (432,493)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (373,212)	$ (428,168)

Net loss allocated to other Partners		$ (3,770)	$ (4,325)

* Amounts include $(373,212) and $(428,168) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 33

		2017	2016
Revenues
	Rental	$ 1,040,194	$ 1,030,707
	Interest and other	36,781	34,834
		1,076,975	1,065,541

Expenses
	Interest	179,339	173,255
	Depreciation and amortization	260,563	284,822
	Operating expenses	784,939	777,630
		1,224,841	1,235,707

NET LOSS		$ (147,866)	$ (170,166)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (146,387)	$ (168,464)

Net loss allocated to other Partners		$ (1,479)	$ (1,702)

* Amounts include $(146,387) and $(168,464) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 34

		2017	2016
Revenues
	Rental	$ 728,809	$ 1,029,229
	Interest and other	26,259	32,598
		755,068	1,061,827

Expenses
	Interest	78,197	156,982
	Depreciation and amortization	206,720	283,865
	Operating expenses	565,852	841,070
		850,769	1,281,917

NET LOSS		$ (95,701)	$ (220,090)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (94,744)	$ (217,889)

Net loss allocated to other Partners		$ (957)	$ (2,201)

* Amounts include $(94,744) and $(217,889) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 35

		2017	2016
Revenues
	Rental	$ 829,380	$ 1,684,024
	Interest and other	22,600	60,075
		851,980	1,744,099

Expenses
	Interest	138,051	329,373
	Depreciation and amortization	254,427	602,766
	Operating expenses	482,739	1,057,585
		875,217	1,989,724

NET LOSS		$ (23,237)	$ (245,625)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (23,005)	$ (243,169)

Net loss allocated to other Partners		$ (232)	$ (2,456)

* Amounts include $(23,005) and $(243,169) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 36

		2017	2016
Revenues
	Rental	$ 483,137	$ 473,966
	Interest and other	13,767	13,853
		496,904	487,819

Expenses
	Interest	96,625	87,368
	Depreciation and amortization	126,835	146,670
	Operating expenses	372,348	367,176
		595,808	601,214

NET LOSS		$ (98,904)	$ (113,395)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (97,915)	$ (112,261)

Net loss allocated to other Partners		$ (989)	$ (1,134)

* Amounts include $(97,915) and $(112,261) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 37

		2017	2016
Revenues
	Rental	$ 588,136	$ 1,824,071
	Interest and other	58,474	93,131
		646,610	1,917,202

Expenses
	Interest	96,219	390,254
	Depreciation and amortization	197,321	622,199
	Operating expenses	441,915	1,368,577
		735,455	2,381,030

NET LOSS		$ (88,845)	$ (463,828)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (87,957)	$ (459,190)

Net loss allocated to other Partners		$ (888)	$ (4,638)

* Amounts include $(87,957) and $(459,190) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 38

		2017	2016
Revenues
	Rental	$ 1,331,140	$ 2,435,309
	Interest and other	16,255	67,401
		1,347,395	2,502,710

Expenses
	Interest	185,342	430,695
	Depreciation and amortization	279,470	583,791
	Operating expenses	960,761	1,692,637
		1,425,573	2,707,123

NET LOSS		$ (78,178)	$ (204,413)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (77,396)	$ (202,369)

Net loss allocated to other Partners		$ (782)	$ (2,044)

* Amounts include $(77,396) and $(202,369) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 39

		2017	2016
Revenues
	Rental	$ -	$ 1,039,650
	Interest and other	-	43,692
		-	1,083,342

Expenses
	Interest	-	214,492
	Depreciation and amortization	-	243,036
	Operating expenses	-	727,512
		-	1,185,040

NET LOSS		$ -	$ (101,698)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ -	$ (100,681)

Net loss allocated to other Partners		$ -	$ (1,017)

* Amounts include $- and $(100,681) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 40

		2017	2016
Revenues
	Rental	$ 1,677,092	$ 2,063,291
	Interest and other	37,872	40,671
		1,714,964	2,103,962

Expenses
	Interest	342,476	431,037
	Depreciation and amortization	493,185	610,754
	Operating expenses	1,380,725	1,411,808
		2,216,386	2,453,599

NET LOSS		$ (501,422)	$ (349,637)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (496,408)	$ (346,141)

Net loss allocated to other Partners		$ (5,014)	$ (3,496)

* Amounts include $(496,408) and $(346,141) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 41

		2017	2016
Revenues
	Rental	$ 3,731,606	$ 4,092,808
	Interest and other	78,700	105,538
		3,810,306	4,198,346

Expenses
	Interest	774,931	835,787
	Depreciation and amortization	893,311	1,017,190
	Operating expenses	2,606,559	2,752,748
		4,274,801	4,605,725

NET LOSS		$ (464,495)	$ (407,379)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (459,850)	$ (403,305)

Net loss allocated to other Partners		$ (4,645)	$ (4,074)

* Amounts include $(459,850) and $(403,305) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 42

		2017	2016
Revenues
	Rental	$ 2,581,674	$ 2,696,145
	Interest and other	103,563	212,506
		2,685,237	2,908,651

Expenses
	Interest	560,478	575,368
	Depreciation and amortization	801,778	844,726
	Operating expenses	1,918,744	2,089,988
		3,281,000	3,510,082

NET LOSS		$ (595,763)	$ (601,431)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (589,805)	$ (595,417)

Net loss allocated to other Partners		$ (5,958)	$ (6,014)

* Amounts include $(589,805) and $(595,417) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 43

		2017	2016
Revenues
	Rental	$ 3,823,594	$ 3,876,925
	Interest and other	186,172	164,754
		4,009,766	4,041,679

Expenses
	Interest	586,218	585,992
	Depreciation and amortization	1,263,725	1,312,092
	Operating expenses	2,952,130	2,959,326
		4,802,073	4,857,410

NET LOSS		$ (792,307)	$ (815,731)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (784,384)	$ (807,574)

Net loss allocated to other Partners		$ (7,923)	$ (8,157)

* Amounts include $(784,384) and $(807,574) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 44

		2017	2016
Revenues
	Rental	$ 4,397,610	$ 4,391,077
	Interest and other	136,412	120,037
		4,534,022	4,511,114

Expenses
	Interest	1,051,820	1,077,199
	Depreciation and amortization	1,025,862	1,079,209
	Operating expenses	2,635,539	2,519,646
		4,713,221	4,676,054

NET LOSS		$ (179,199)	$ (164,940)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (177,407)	$ (163,291)

Net loss allocated to other Partners		$ (1,792)	$ (1,649)

* Amounts include $(177,407) and $(163,291) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 45

		2017	2016
Revenues
	Rental	$ 5,430,265	$ 5,379,892
	Interest and other	110,355	106,730
		5,540,620	5,486,622

Expenses
	Interest	727,734	766,156
	Depreciation and amortization	1,476,660	1,506,167
	Operating expenses	3,931,531	3,831,853
		6,135,925	6,104,176

NET LOSS		$ (595,305)	$ (617,554)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (589,352)	$ (611,378)

Net loss allocated to other Partners		$ (5,953)	$ (6,176)

* Amounts include $(589,352) and $(611,378) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine Months Ended September 30,
(Unaudited)

Series 46

		2017	2016
Revenues
	Rental	$ 3,464,867	$ 3,992,059
	Interest and other	75,287	93,126
		3,540,154	4,085,185

Expenses
	Interest	707,913	876,472
	Depreciation and amortization	857,671	976,513
	Operating expenses	2,256,779	2,675,201
		3,822,363	4,528,186

NET LOSS		$ (282,209)	$ (443,001)

Net loss allocated to Boston Capital Tax Credit Fund IV L.P.*		$ (279,387)	$ (438,571)

Net loss allocated to other Partners		$ (2,822)	$ (4,430)

* Amounts include $(279,387) and $(438,571) for 2017 and 2016, respectively, of net loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
December 31, 2017
(Unaudited)

NOTE E - TAXABLE LOSS

The Fund's taxable loss for calendar year ended December 31, 2017 is expected to differ from its loss for financial reporting purposes. This is primarily due to accounting differences in depreciation incurred by the Operating Partnerships and also differences between the equity method of accounting and the IRS accounting methods.

NOTE F - INCOME TAXES

The Fund has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The Fund's federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Fund has no other tax positions, which must be considered for disclosure. Income tax returns filed by the Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2013 remain open.

NOTE G - SUBSEQUENT EVENTS

Subsequent to December 31, 2017, the Fund has entered into an agreement to transfer the interest in three operating limited partnerships. The estimated transfer price and other terms for the dispositions of the operating limited partnerships have been determined. The estimated proceeds to be received for the operating limited partnership is $755,204. The estimated gain on the transfer of the operating limited partnership is $750,204 and is expected to be recognized in the fourth quarter of fiscal year ending March 31, 2018.

Item 2. Management's Discussions and Analysis of Financial Condition and
Results of Operations

This Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements including our intentions, hopes, beliefs, expectations, strategies and predictions of our future activities, or other future events or conditions. These statements are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created by these acts. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including, for example, the factors identified in Part I, Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended March 31, 2017. Although we believe that the assumptions underlying these forward-looking statements are reasonable, any of the assumptions could be inaccurate, and there can be no assurance that the forward-looking statements included in this Report will prove to be accurate. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of this information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved.

Liquidity

The Fund's primary source of funds was the proceeds of its Public Offering. Other sources of liquidity include (i) interest earned on capital contributions unpaid for the nine months ended December 31, 2017 or on working capital reserves, (ii) cash distributions from operations of the Operating Partnerships in which the Fund has invested and (iii) proceeds received from the dispositions of the Operating Partnership that are returned to fund reserves. These sources of liquidity, along with the Fund's working capital reserve, are available to meet the obligations of the Partnership. The Fund does not anticipate significant cash distributions from operations of the Operating Partnerships.

The Fund is currently accruing the fund management fee. Fund management fees accrued during the quarter ended December 31, 2017 were $572,291 and total fund management fees accrued as of December 31, 2017 were $32,440,446. During the nine months ended December 31, 2017, $8,519,859 of the accrued fund management fees were paid. Pursuant to the Partnership Agreement, these liabilities will be deferred until the Fund receives proceeds from sales of the Operating Partnerships that will be used to satisfy these liabilities. The Fund's working capital and sources of liquidity coupled with affiliated party liability accruals allow sufficient levels of liquidity to meet the third party obligations of the Fund. The Fund is currently unaware of any trends that would create insufficient liquidity to meet future third party obligations of the Fund.

Liquidity (continued)

As of December 31, 2017, an affiliate of the general partner of the Fund advanced a total of $217,533 to Series 44 to pay some operating expenses of the Fund, and to make advances and/or loans to Operating Partnerships. These advances are included in Accounts payable affiliates. During the nine months ended December 31, 2017, $11,480 was advanced to Series 44 from an affiliate of the general partner, as well as $220,455 and $54,659 was paid back from Series 39 and Series 45, respectively, to an affiliate of the general partner. All payables to affiliates will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the Fund's interests in Operating Partnerships.

Capital Resources

The Fund offered BACs in the Public Offering declared effective by the Securities and Exchange Commission on December 16, 1993. The Fund received $38,667,000, $18,927,000, $25,644,000, $33,366,000, $21,697,000, $30,248,000, $39,959,000, $24,607,000, $39,999,000, $39,918,000, $26,490,750, $44,057,750, $47,431,000, $26,362,000, $35,273,000, $33,004,630, $21,068,375, $25,125,000, $25,431,000, $22,921,000, $26,629,250, $28,916,260, $27,442,620, $27,442,620, $36,379,870, $27,019,730, $40,143,670 and $29,809,980 representing 3,866,700, 1,892,700, 2,564,400, 3,336,727, 2,169,878, 3,026,109, 3,995,900, 2,460,700, 4,000,738, 3,991,800, 2,651,000, 4,417,857, 4,754,198, 2,636,533, 3,529,319, 3,300,463, 2,106,837, 2,512,500, 2,543,100, 2,292,152, 2,630,256, 2,891,626, 2,744,262, 3,637,987, 2,701,973, 4,014,367 and 2,980,998 BACs from investors admitted as BAC Holders in Series 20, Series 21, Series 22, Series 23, Series 24, Series 25, Series 26, Series 27, Series 28, Series 29, Series 30, Series 31, Series 32, Series 33, Series 34, Series 35, Series 36, Series 37, Series 38, Series 39, Series 40, Series 41, Series 42, Series 43, Series 44, Series 45 and Series 46, respectively, as of December 31, 2017.

Series 20

The Fund commenced offering BACs in Series 20 on January 21, 1994. Offers and sales of BACs in Series 20 were completed on June 24, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $27,693,970. Series 20 has since sold its interest in 22 of the Operating Partnerships and 2 remain.

Prior to the quarter ended December 31, 2017, Series 20 had released all payments of its capital contributions to the Operating Partnerships.

Series 21

The Fund commenced offering BACs in Series 21 on July 5, 1994. Offers and sales of BACs in Series 21 were completed on September 30, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 14 Operating Partnerships in the amount of $13,872,728. Series 21 has since sold its interest in all 14 of the Operating Partnerships.

Prior to the quarter ended December 31, 2017, Series 21 had released all payments of its capital contributions to the Operating Partnerships.

Series 22

The Fund commenced offering BACs in Series 22 on October 12, 1994. Offers and sales of BACs in Series 22 were completed on December 28, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 29 Operating Partnerships in the amount of $18,758,748. Series 22 has since sold its interest in 26 of the Operating Partnerships and 3 remain.

Prior to the quarter ended December 31, 2017, Series 22 had released all payments of its capital contributions to the Operating Partnerships.

Series 23

The Fund commenced offering BACs in Series 23 on January 10, 1995. Offers and sales of BACs in Series 23 were completed on June 23, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $24,352,278. Series 23 has since sold its interest in 19 of the Operating Partnerships and 3 remain.

Prior to the quarter ended December 31, 2017, Series 23 had released all payments of its capital contributions to the Operating Partnerships.

Series 24

The Fund commenced offering BACs in Series 24 on June 9, 1995. Offers and sales of BACs in Series 24 were completed on September 22, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $15,796,309. Series 24 has since sold its interest in 18 of the Operating Partnerships and 6 remain.

Prior to the quarter ended December 31, 2017, Series 24 had released all payments of its capital contributions to the Operating Partnerships.

Series 25

The Fund commenced offering BACs in Series 25 on September 30, 1995. Offers and sales of BACs in Series 25 were completed on December 29, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $22,324,539. Series 25 has since sold its interest in all 22 Operating Partnerships.

Prior to the quarter ended December 31, 2017, Series 25 had released all payments of its capital contributions to the Operating Partnerships.

Series 26

The Fund commenced offering BACs in Series 26 on January 18, 1996. Offers and sales of BACs in Series 26 were completed on June 14, 1996. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 45 Operating Partnerships in the amount of $29,401,215. Series 26 has since sold its interest in 36 of the Operating Partnerships and 9 remain.

Prior to the quarter ended December 31, 2017, Series 26 had released all payments of its capital contributions to the Operating Partnerships.

Series 27

The Fund commenced offering BACs in Series 27 on June 17, 1996. Offers and sales of BACs in Series 27 were completed on September 27, 1996. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 16 Operating Partnerships in the amount of $17,881,574. Series 27 has since sold its interest in 13 of the Operating Partnerships and 3 remain.

Prior to the quarter ended December 31, 2017, Series 27 had released all payments of its capital contributions to the Operating Partnerships.

Series 28

The Fund commenced offering BACs in Series 28 on September 30, 1996. Offers and sales of BACs in Series 28 were completed on January 31, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 26 Operating Partnership in the amount of $29,281,983. Series 28 has since sold its interest in 21 of the Operating Partnerships and 5 remain.

Prior to the quarter ended December 31, 2017, Series 28 had released all payments of its capital contributions to the Operating Partnerships.

Series 29

The Fund commenced offering BACs in Series 29 on February 10, 1997. Offers and sales of BACs in Series 29 were completed on June 20, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $29,137,877. Series 29 has since sold its interest in 14 of the Operating Partnerships and 8 remain.

During the quarter ended December 31, 2017, Series 29 did not record any releases of capital contributions. Series 29 has outstanding contributions payable to 2 Operating Partnerships in the amount of $8,235 as of December 31, 2017. The remaining contributions will be released when the Operating Partnerships have achieved the conditions set forth in their respective partnership agreements.

Series 30

The Fund commenced offering BACs in Series 30 on June 23, 1997. Offers and sales of BACs in Series 30 were completed on September 10, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 20 Operating Partnerships in the amount of $19,497,869. Series 30 has since disposed of its interest in 14 of the Operating Partnerships and 6 remain.

During the quarter ended December 31, 2017, Series 30 did not record any releases of capital contributions. Series 30 has outstanding contributions payable to 2 Operating Partnerships in the amount of $65,176 as of December 31, 2017. The remaining contributions will be released when Operating Partnerships have achieved the conditions set forth in their respective partnership agreements.

Series 31

The Fund commenced offering BACs in Series 31 on September 11, 1997. Offers and sales of BACs in Series 31 were completed on January 18, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 27 Operating Partnerships in the amount of $32,569,100. Series 31 has since disposed of its interest in 19 of the Operating Partnerships and 8 remain.

During the quarter ended December 31, 2017, Series 31 did not record any releases of capital contributions. Series 31 has outstanding contributions payable to 3 Operating Partnerships in the amount of $66,294 as of December 31, 2017. Of the amount outstanding, $25,000 has been funded into an escrow account on behalf of one Operating Partnership. The escrowed funds will be converted to capital and the remaining contributions of $41,294 will be released when the Operating Partnerships have achieved the conditions set forth in their respective partnership agreements.

Series 32

The Fund commenced offering BACs in Series 32 on January 19, 1998. Offers and sales of BACs in Series 32 were completed on June 23, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 17 Operating Partnerships in the amount of $34,129,677. Series 32 has since sold its interest in 11 of the Operating Partnerships and 6 remain. The series has also purchased membership interests in Bradley Phase I of Massachusetts LLC, Bradley Phase II of Massachusetts LLC, Byam Village of Massachusetts LLC, Hanover Towers of Massachusetts LLC, Harbor Towers of Massachusetts LLC and Maple Hill of Massachusetts LLC. In December 2010, the investment general partner sold its membership interests and a gain on the sale of the membership interests has been recorded in the amount of $499,998 as of December 31, 2010. Under the terms of these Assignments of Membership Interests dated December 1, 1998, the series is entitled to various profits, losses, tax credits, cash flow, proceeds from capital transactions and capital accounts as defined in the individual Operating Partnership Agreements. The series utilized $1,092,847 of funds available to invest in Operating Partnerships for this investment.

During the quarter ended December 31, 2017, Series 32 did not record any releases of capital contributions. Series 32 has outstanding contributions payable to 1 Operating Partnership in the amount of $1,229 as of December 31, 2017. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 33

The Fund commenced offering BACs in Series 33 on June 22, 1998. Offers and sales of BACs in Series 33 were completed on September 21, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $19,594,100. Series 33 has since sold its interest in 6 of the Operating Partnerships and 4 remain.

During the quarter ended December 31, 2017, Series 33 did not record any releases of capital contributions. Series 33 has outstanding contributions payable to 1 Operating Partnership in the amount of $2,650 as of December 31, 2017. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 34

The Fund commenced offering BACs in Series 34 on September 22, 1998. Offers and sales of BACs in Series 34 were completed on February 11, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 14 Operating Partnerships in the amount of $25,738,978. Series 34 has since sold its interest in 10 of the Operating Partnerships and 4 remain.

Prior to the quarter ended December 31, 2017, Series 34 had released all payments of its capital contributions to the Operating Partnerships.

Series 35

The Fund commenced offering BACs in Series 35 on February 22, 1999. Offers and sales of BACs in Series 35 were completed on June 28, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 11 Operating Partnerships in the amount of $24,002,391. Series 35 has since sold its interest in 9 of the Operating Partnerships and 2 remain.

Prior to the quarter ended December 31, 2017, Series 35 had released all payments of its capital contributions to the Operating Partnerships.

Series 36

The Fund commenced offering BACs in Series 36 on June 22, 1999. Offers and sales of BACs in Series 36 were completed on September 28, 1999. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 11 Operating Partnerships in the amount of $15,277,041. Series 36 has since sold its interest in 8 of the Operating Partnerships and 3 remain.

Prior to the quarter ended December 31, 2017, Series 36 had released all payments of its capital contributions to the Operating Partnerships.

Series 37

The Fund commenced offering BACs in Series 37 on October 29, 1999. Offers and sales of BACs in Series 37 were completed on January 28, 2000. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 7 Operating Partnerships in the amount of $18,735,142. Series 37 has since sold its interest in 6 of the Operating Partnerships and 1 remains.

Prior to the quarter ended December 31, 2017, Series 37 had released all payments of its capital contributions to the Operating Partnerships.

Series 38

The Fund commenced offering BACs in Series 38 on February 1, 2000. Offers and sales of BACs in Series 38 were completed on July 31, 2000. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $18,612,287. Series 38 has since sold its interest in 6 of the Operating Partnerships and 4 remain. In addition, the Fund committed and used $420,296 of Series 38 net offering proceeds to acquire a membership interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

Prior to the quarter ended December 31, 2017, Series 38 had released all payments of its capital contributions to the Operating Partnerships.

Series 39

The Fund commenced offering BACs in Series 39 on August 1, 2000. Offers and sales of BACs in Series 39 were completed on January 31, 2001. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 9 Operating Partnerships in the amount of $17,115,492. Series 39 has since sold its interest in all 9 of the Operating Partnerships. In addition, the Fund committed and used $192,987 of Series 39 net offering proceeds to acquire a membership interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

Prior to the quarter ended December 31, 2017, Series 39 had released all payments of its capital contributions to the Operating Partnerships.

Series 40

The Fund commenced offering BACs in Series 40 on February 1, 2001. Offers and sales of BACs in Series 40 were completed on July 31, 2001. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 16 Operating Partnerships in the amount of $19,030,772. Series 40 has since sold its interest in 7 of the Operating Partnerships and 9 remain. In addition, the Fund committed and used $578,755 of Series 40 net offering proceeds to acquire a membership interest in limited liability companies, which are the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

During the quarter ended December 31, 2017, Series 40 did not record any releases of capital contributions. Series 40 has outstanding contributions payable to 1 Operating Partnership in the amount of $102 as of December 31, 2017. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 41

The Fund commenced offering BACs in Series 41 on August 1, 2001. Offers and sales of BACs in Series 41 were completed on January 31, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $21,278,631. Series 41 has since sold its interest in 9 of the Operating Partnerships and 14 remain. In addition, the Fund committed and used $195,249 of Series 41 net offering proceeds to acquire a membership interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

During the quarter ended December 31, 2017, Series 41 did not record any releases of capital contributions. Series 41 has outstanding contributions payable to 1 Operating Partnership in the amount of $100 as of December 31, 2017. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 42

The Fund commenced offering BACs in Series 42 on February 1, 2002. Offers and sales of BACs in Series 42 were completed on July 31, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $20,661,120. Series 42 has since sold its interest in 10 of the Operating Partnerships and 13 remain.

During the quarter ended December 31, 2017, Series 42 released $9,503 of capital contributions. Series 42 has outstanding contributions payable to 1 Operating Partnership in the amount of $254 as of December 31, 2017. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 43

The Fund commenced offering BACs in Series 43 on August 1, 2002. Offers and sales of BCAs in Series 43 were completed in June 30, 2002. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 23 Operating Partnerships in the amount of $26,326,543. Series 43 has since sold its interest in 5 of the Operating Partnerships and 18 remain. The Fund also committed and used $805,160 of Series 43 net offering proceeds to acquire membership interests in limited liability companies, which are the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes. In addition, the Fund committed and used $268,451 of Series 43 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships which own or are constructing, rehabilitating or operating apartment complexes.

During the quarter ended December 31, 2017, Series 43 released $9,508 of capital contributions. Series 43 has outstanding contributions payable to 1 Operating Partnership in the amount of $26,082 as of December 31, 2017. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 44

The Fund commenced offering BACs in Series 44 on January 14, 2003. Offers and sales of BACs in Series 44 were completed in April 30, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $20,248,519. Series 44 has since sold its interest in 3 of the Operating Partnerships and 7 remain. In addition, the Fund committed and used $164,164 of Series 44 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships which own or are constructing, rehabilitating or operating apartment complexes.

Prior to the quarter ended December 31, 2017, Series 44 had released all payments of its capital contributions to the Operating Partnerships.

Series 45

The Fund commenced offering BACs in Series 45 on July 1, 2003. Offers and sales of BACs in Series 45 were completed on September 16, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 31 Operating Partnerships in the amount of $30,232,512. Series 45 has since sold its interest in 4 of the Operating Partnerships and 27 remain. In addition, the Fund committed and used $302,862 of Series 45 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships which own or are constructing, rehabilitating or operating apartment complexes.

During the quarter ended December 31, 2017, Series 45 did not record any releases of capital contributions. Series 45 has outstanding contributions payable to 1 Operating Partnership in the amount of $16,724 as of December 31, 2017. The remaining contributions will be released when the Operating Partnership has achieved the conditions set forth in its partnership agreement.

Series 46

The Fund commenced offering BACs in Series 46 on September 23, 2003. Offers and sales of BACs in Series 46 were completed on December 19, 2003. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 15 Operating Partnerships in the amount of $22,495,082. Series 46 has since sold its interest in 1 of the Operating Partnerships and 14 remain. In addition, the Fund committed and used $228,691 of Series 46 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships which own or are constructing, rehabilitating or operating apartment complexes.

Prior to the quarter ended December 31, 2017, Series 46 had released all payments of its capital contributions to the Operating Partnerships.

Results of Operations

As of December 31, 2017 and 2016, the Fund held limited partnership interests in 179 and 219 Operating Partnerships, respectively. In each instance the apartment complex owned by the applicable Operating Partnership is eligible for the federal housing tax credit. Initial occupancy of a unit in each apartment complex which complied with the minimum set-aside test (i.e., initial occupancy by tenants with incomes equal to no more than a certain percentage of area median income) and the rent restriction test (i.e., gross rent charged tenants does not exceed 30% of the applicable income standards) is referred to as "Qualified Occupancy." Each of the Operating Partnerships and each of the respective apartment complexes are described more fully in the Prospectus or applicable report on Form 8-K. The general partner of the Fund believes that there is adequate casualty insurance on the properties.

The Fund incurred a fund management fee to Boston Capital Asset Management Limited Partnership in an amount equal to .5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of various asset management and reporting fees paid by the Operating Partnerships. The fund management fees net of reporting fees incurred and the reporting fees paid by the Operating Partnerships for the three and nine months ended December 31, 2017, are as follows:

	3 Months Gross Fund Management Fee	3 Months Asset Management and Reporting Fee	3 Months Fund Management Fee Net of Asset Management and Reporting Fee

Series 20	$ 5,536	$ 200	$ 5,336
Series 21	2,216	-	2,216
Series 22	7,303	-	7,303
Series 23	5,556	-	5,556
Series 24	12,588	490	12,098
Series 25	-	-	-
Series 26	15,609	-	15,609
Series 27	8,915	8,760	155
Series 28	8,844	-	8,844
Series 29	20,547	-	20,547
Series 30	12,609	2,400	10,209
Series 31	19,092	-	19,092
Series 32	23,234	6,000	17,234
Series 33	15,654	18,840	(3,186)
Series 34	12,365	-	12,365
Series 35	10,653	3,200	7,453
Series 36	7,626	-	7,626
Series 37	10,957	-	10,957
Series 38	18,234	10,200	8,034
Series 39	1,712	-	1,712
Series 40	26,594	11,475	15,119
Series 41	49,564	11,715	37,849
Series 42	40,788	5,739	35,049
Series 43	55,612	1,365	54,247
Series 44	57,825	26,120	31,705
Series 45	70,359	2,005	68,354
Series 46	52,299	6,931	45,368
	$572,291	$115,440	$456,851

	9 Months Gross Fund Management Fee	9 Months Asset Management and Reporting Fee	9 Months Fund Management Fee Net of Asset Management and Reporting Fee

Series 20	$ 16,607	$ 2,312	$ 14,295
Series 21	7,654	2,051	5,603
Series 22	21,909	500	21,409
Series 23	16,668	1,750	14,918
Series 24	37,764	2,835	34,929
Series 25	11,374	1,692	9,682
Series 26	60,699	3,841	56,858
Series 27	33,438	10,760	22,678
Series 28	26,532	2,000	24,532
Series 29	61,640	3,387	58,253
Series 30	41,872	50,954	(9,082)
Series 31	62,490	1,500	60,990
Series 32	75,974	12,500	63,474
Series 33	48,449	25,340	23,109
Series 34	37,097	4,200	32,897
Series 35	45,615	5,659	39,956
Series 36	22,878	1,910	20,968
Series 37	35,959	8,018	27,941
Series 38	54,702	10,700	44,002
Series 39	5,130	-	5,130
Series 40	85,069	11,475	73,594
Series 41	155,150	13,663	141,487
Series 42	126,528	12,686	113,842
Series 43	170,998	20,795	150,203
Series 44	173,476	27,120	146,356
Series 45	211,077	17,871	193,206
Series 46	156,897	17,559	139,338
	$1,803,646	$273,078	$1,530,568

The Fund's investment objectives do not include receipt of significant cash distributions from the Operating Partnerships in which it has invested or intends to invest. The Fund's investments in Operating Partnerships have been and will be made principally with a view towards realization of federal housing tax credits for allocation to its partners and BAC holders.

Series 20

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 2 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 20 reflects a net loss from Operating Partnerships of $(63,950) and $(50,641), respectively, which includes depreciation and amortization of $91,765 and $122,081, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In March 2016, the operating general partner of Franklinton Elderly Housing entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on June 14, 2016. The sales price of the property was $1,655,869, which included the outstanding mortgage balance of approximately $1,514,869 and cash proceeds to the investment partnership of $141,000. Of the total proceeds received by the investment partnership, $3,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $138,000 were returned to cash reserves held by Series 20. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $138,000 as of September 30, 2016.

In December 2017, the investment general partner transferred its interest in Fair Oaks Lane Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,279,482 and cash proceeds to the investment partnership of $44,000. Of the total proceeds received, $2,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $42,000 were returned to cash reserves held by Series 20. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $42,000 as of December 31, 2017.

Series 21

As of December 31, 2016, the average Qualified Occupancy for the series was 100%. The series did not have any properties as of December 31, 2017.

For the nine month periods ended December 31, 2017 and 2016, Series 21 reflects a net loss from Operating Partnerships of $- and $(797), respectively, which includes depreciation and amortization of $- and $62,275, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In November 2017, the investment general partner transferred its interest in Better Homes of Havelock Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,591,112 and cash proceeds to the investment partnership of $60,000. Of the total proceeds received, $2,500 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $57,500 were returned to cash reserves held by Series 21. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $57,500 as of December 31, 2017.

In December 2017, the investment general partner transferred its interest in Liveoak Village Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $672,305 and cash proceeds to the investment partnership of $12,000. Of the total proceeds received, $2,500 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $9,500 were returned to cash reserves held by Series 21. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $9,500 as of December 31, 2017.

Series 22

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 22 reflects a net loss from Operating Partnerships of $(52,888) and $(48,562), respectively, which includes depreciation and amortization of $103,504 and $84,013, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

Series 23

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 23 reflects a net loss from Operating Partnerships of $(16,053) and $(276,373), respectively, which includes depreciation and amortization of $67,348 and $468,885, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In June 2016, the investment general partner of Boston Capital Tax Credit Fund III - Series 16 and Series 23 transferred their respective interests in Mid City Associates Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $4,890,361 and cash proceeds to the investment partnerships of $124,955 and $4,545, for Series 16 and Series 23, respectively. Of the total proceeds received, $27,340 and $995, for Series 16 and Series 23, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $97,615 and $3,550, for Series 16 and Series 23, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded in the amount of $97,615 and $3,550, for Series 16 and Series 23, respectively, as of June 30, 2016.

In March 2017, the investment general partner transferred its interest in Colonna Redevelopment Company to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $375,000 and cash proceeds to the investment partnership of $500,000. Of the total proceeds received, $15,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $485,000 were returned to cash reserves held by Series 23. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $485,000 as of March 31, 2017.

In January 2017, the operating general partner of Sacramento SRO Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on April 21, 2017. The sales price of the property was $3,800,000, which included the outstanding mortgage balance of approximately $2,701,113 and cash proceeds to the investment partnership of $964,665. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $959,665 were returned to cash reserves held by Series 23. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $959,665 as of June 30, 2017. In October 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $30,297 which was returned to the cash reserves.

Series 24

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 6 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 24 reflects a net loss from Operating Partnerships of $(114,786) and $(95,040), respectively, which includes depreciation and amortization of $211,044 and $205,010, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

Series 25

As of December 31, 2016, the average Qualified Occupancy for the series was 100%. The series did not have any properties as of December 31, 2017.

For the nine month periods ended December 31, 2017 and 2016, Series 25 reflects a net loss from Operating Partnerships of $- and $(26,970), respectively, which includes depreciation and amortization of $- and $121,323, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In September 2017, the investment general partner transferred its interest in Ethel Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $736,238 and cash proceeds to the investment partnership of $21,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $19,500 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $19,500 as of September 30, 2017.

In August 2017, the investment general partner transferred its interest in Horse Cave Family Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $753,559 and cash proceeds to the investment partnership of $12,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $9,500 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $9,500 as of September 30, 2017.

In September 2017, the investment general partner transferred its interest in Shannon Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,157,526 and cash proceeds to the investment partnership of $36,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $34,500 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $34,500 as of September 30, 2017.

In September 2017, the investment general partner transferred its interest in West Point Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $638,133 and cash proceeds to the investment partnership of $35,311. Of the total proceeds received, $1,412 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $33,899 were returned to cash reserves held by Series 25. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $33,899 as of September 30, 2017.

Series 26

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 9 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 26 reflects a net loss from Operating Partnerships of $(348,980) and $(432,310), respectively, which includes depreciation and amortization of $321,930 and $432,391, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In July 2016, the investment general partner transferred its interest in Holly Hills Properties, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $794,392 and cash proceeds to the investment partnership of $22,500. Of the total proceeds received, $4,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $18,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $18,500 as of September 30, 2016.

In September 2017, the investment general partner transferred its interest in Mason Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $849,683 and cash proceeds to the investment partnership of $18,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $16,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $16,500 as of September 30, 2017.

In September 2017, the investment general partner transferred its interest in Maxton Green Associates Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $802,661 and cash proceeds to the investment partnership of $16,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $14,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $14,500 as of September 30, 2017.

In September 2017, the investment general partner transferred its interest in Meridian Housing Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $651,291 and cash proceeds to the investment partnership of $36,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $34,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $34,500 as of September 30, 2017.

In September 2017, the investment general partner transferred its interest in Timmonsville Green Associates Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $970,535 and cash proceeds to the investment partnership of $16,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $14,500 were returned to cash reserves held by Series 26. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $14,500 as of September 30, 2017.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Beckwood Manor One Limited Partnership

Southwind Apartments, A L.D.H.A.

T.R. Bobb Apartments Partnership, A L.D.H.A.

Brookhaven Apartments Partnership, A LP

Beauregard Apartments Partnership, A L.D.H.A.

Warrensburg Heights L.P.

Series 27

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 27 reflects a net loss from Operating Partnerships of $(83,576) and $(157,552), respectively, which includes depreciation and amortization of $165,370 and $455,020, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In February 2016, the operating general partner of Centrum - Fairfax II LP entered into an agreement to sell the property to an entity affiliated with the operating general partner and the transaction closed on June 20, 2016. The sales price of the property was $9,550,000, which included the outstanding mortgage balance of approximately $4,907,553 and cash proceeds to the investment partnership of $3,000,000. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $2,995,000 will be returned to cash reserves held by Series 27. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $2,995,000 as of June 30, 2016.

In July 2016, the investment general partner transferred its interest in Sunday Sun Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $794,703 and cash proceeds to the investment partnership of $25,000. Of the total proceeds received, $4,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $21,000 were returned to cash reserves held by Series 27. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $21,000 as of September 30, 2016.

In October 2016, the investment general partner transferred 50% of its interest in Canisteo Manor, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $438,188 and nominal cash proceeds to the investment partnership. There were no cash proceeds available to pay expenses related to the transfer and no proceeds were returned to cash reserves held by Series 27. The remaining 50% investment limited partner interest in the Operating Partnership was transferred in November 2017 for the assumption of approximately $438,188 of the remaining outstanding mortgage balance and nominal consideration. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership has been recorded.

In December 2016, the operating general partner of Wayne Housing Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on April 27, 2017. The sales price of the property was $12,800,000, which included the outstanding mortgage balance of approximately $5,844,046 and cash proceeds to the investment partnership of $3,291,567 which were returned to cash reserves held by Series 27. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $3,291,567 as of June 30, 2017.

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

Angelou Court

Series 28

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 5 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 28 reflects a net loss from Operating Partnerships of $(108,817) and $(190,746), respectively, which includes depreciation and amortization of $169,333 and $173,079, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In June 2016, the investment general partner transferred its interest in Senior Suites Chicago Austin Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,875,732 and cash proceeds to the investment partnership of $10,000. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $5,000 were returned to cash reserves held by Series 28. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $5,000 as of June 30, 2016.

The investment general partner will continue to monitor the following Operating Partnership because of operational or other issues. However, this Operating Partnership has all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Maplewood Apartments Partnership, A LA Partnership

Series 29

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 8 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 29 reflects a net loss from Operating Partnerships of $(395,641) and $(295,769), respectively, which includes depreciation and amortization of $371,636 and $367,084, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

Edgewood Apartments Partnership, A Louisiana Partnership

Westfield Apartments Partnership, A Louisiana Partnership

Harbor Pointe/MHT LDHA

The Lincoln Hotel

Poplarville Housing Inc.

Series 30

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 6 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 30 reflects a net loss from Operating Partnerships of $(103,181) and $(158,143), respectively, which includes depreciation and amortization of $217,874 and $303,986, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In February 2017, the operating general partner of Linden Partners II, LLC entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on April 28, 2017. The sales price of the property was $1,125,000, which included the outstanding mortgage balance of approximately $681,507 and cash proceeds to the investment partnership of $192,168. Of the total proceeds received by the investment partnership, $40,738 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the sale. Of the remaining proceeds, $3,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $148,430 were returned to cash reserves held by Series 30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $148,430 as of June 30, 2017. In July 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $2,091 which was returned to the cash reserves.

In June 2017, the investment general partner transferred its interest in C.V.V.A. Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $1,432,770 and cash proceeds to the investment partnership of $78,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $75,500 were returned to cash reserves held by Series 30. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. The transfer proceeds were not received as of June 30, 2017, so a receivable in the amount of $75,500 was recorded. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $75,500 as of June 30, 2017. In addition, equity outstanding for the Operating Partnership in the amount of $39,963 for Series 30 was recorded as gain on the transfer of the Operating Partnership as of June 30, 2017.

Bellwood Four Limited Partnership

JMC Limited Liability Company

Series 31

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 8 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 31 reflects a net loss from Operating Partnerships of $(340,535) and $(283,126), respectively, which includes depreciation and amortization of $385,046 and $707,858, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In December 2016, the investment general partner transferred its interest in Eagles Ridge Terrace Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,391,732 and cash proceeds to the investment partnership of $72,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $69,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $69,500 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Henderson Terrace Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $399,366 and cash proceeds to the investment partnership of $19,200. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $16,700 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $16,700 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Lakeview Little Elm Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $340,752 and cash proceeds to the investment partnership of $19,200. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $16,700 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $16,700 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Mesquite Trails Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $523,176 and cash proceeds to the investment partnership of $28,800. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $26,300 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $26,300 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Pilot Point Apartments, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $587,525 and cash proceeds to the investment partnership of $32,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $29,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $29,500 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Seagraves Apartments, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $354,789 and cash proceeds to the investment partnership of $12,800. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $10,300 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $10,300 as of December 31, 2016.

In November 2016, the investment general partner transferred its interest in Silver Creek Apartments/MHT, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,332,447 and cash proceeds to the investment partnership of $627,947. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $622,947 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. The transfer proceeds were received in the first quarter of 2017; so a receivable in the amount of $622,947 was recorded as of December 31, 2016. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $622,947 as of December 31, 2016. In March 2017, the investment partnership received additional proceeds for its share of the Operating Partnership's cash in the amount of $85,464, which were returned to the cash reserves held by the Series.

In September 2017, the investment general partner transferred its interest in Ellisville Housing, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $508,068 and cash proceeds to the investment partnership of $24,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $22,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $22,500 as of September 30, 2017.

In September 2017, the investment general partner transferred its interest in Hattiesburg Housing, Inc. to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $773,195 and cash proceeds to the investment partnership of $24,000. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $22,500 were returned to cash reserves held by Series 31. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $22,500 as of September 30, 2017.

Canton Housing One, L.P.

Canton Housing Two, L.P.

Canton Housing Three, L.P.

Canton Housing Four, L.P.

Series 32

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 6 properties at December 31, 2017, all of which were at 100% Qualified Occupancy

For the nine month periods ended December 31, 2017 and 2016, Series 32 reflects a net loss from Operating Partnerships of $(376,982) and $(432,493), respectively, which includes depreciation and amortization of $455,816 and $779,977, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In December 2016, the investment general partner transferred its interest in Indiana Development Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,129,504 and cash proceeds to the investment partnership of $47,500. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $45,000 were returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $45,000 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Granada Rose, Limited Partnership, a Texas Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $124,650 and cash proceeds to the investment partnership of $6,400. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $3,900 were returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $3,900 as of December 31, 2016.

In November 2016, the operating general partner of Cogic Village LDHA Limited Partnership entered into an agreement to sell the property to an unrelated third party buyer and the transaction closed on February 8, 2017. The sales price of the property was $3,275,000, which included the outstanding mortgage balance of approximately $1,991,521, and cash proceeds to the investment partnership of $522,652. Of the total proceeds received by the investment partnership, $2,000 will be paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $520,652 were returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $520,652 as of March 31, 2017. In June 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $14,506 which was returned to the cash reserves.

In July 2017, the operating general partner of Courtside Housing Associates, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on September 12, 2017. The sales price of the property was $3,625,000, which included the outstanding mortgage balance of approximately $600,000 and cash proceeds to the investment partnership of $1,536,999. Of the total proceeds received by the investment partnership, $3,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,533,999 were returned to cash reserves held by Series 32. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $1,533,999 as of September 30, 2017.

In August 2015, the operating general partner of Pearl Partners, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on October 1, 2015. In December 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $128,747 which was returned to the cash reserves.

Pecan Manor Apartments

Parkside Plaza, LLP

Series 33

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 4 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 33 reflects a net loss from Operating Partnerships of $(147,866) and $(170,166), respectively, which includes depreciation and amortization of $260,563 and $284,822, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In October 2017, the investment general partner transferred their respective interests in Stearns Assisted Housing Associates to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $435,500 and cash proceeds to the investment partnerships of $1,583 and $3,295 for Series 33 and Series 37, respectively. Of the total proceeds received, $633 and $1,318 for Series 33 and Series 37, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $950 and $1,977 for Series 33 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $950 and $1,977 for Series 33 and Series 37, respectively, as of December 31, 2017.

Harbor Pointe/MHT LDHA

Series 34

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 4 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 34 reflects a net loss from Operating Partnerships of $(95,701) and $(220,090), respectively, which includes depreciation and amortization of $206,720 and $283,865, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In May 2016, the investment general partner transferred its interest in Northwood Homes, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $500,053 and cash proceeds to the investment partnership of $32,000. Of the total proceeds received, $4,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $27,500 were returned to cash reserves held by Series 34. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $27,500 as of June 30, 2016.

In July 2016, the investment general partner transferred its interest in Kerrville Meadows Apartments, Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $1,144,914 and cash proceeds to the investment partnership of $225,000. Of the total proceeds received, $10,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $215,000 were returned to cash reserves held by Series 34. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $215,000 as of September 30, 2016.

In December 2016, the investment general partner transferred their respective interests in Washington Courtyards Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,958,317 and cash proceeds to the investment partnerships of $394,536 and $165,090 for Series 34 and Series 35, respectively. Of the total proceeds received, $2,115 and $885 for Series 34 and Series 35, respectively, represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $4,230 and $1,770 for Series 34 and Series 35, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $388,191 and $162,435 for Series 34 and Series 35, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $388,191 and $162,435 for Series 34 and Series 35, respectively, as of December 31, 2016.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

RHP 96-I, L.P.

Belmont Affordable Housing II, LP

Series 35

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 2 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 35 reflects a net loss from Operating Partnerships of $(23,237) and $(245,625), respectively, which includes depreciation and amortization of $254,427 and $602,766, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In March 2016, the operating general partner of Wedgewood Park Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on June 14, 2016. The sales price of the property was $13,900,000, which included the outstanding mortgage balance of approximately $4,364,386 and cash proceeds to the investment partnerships of $2,333,553 and $2,333,553 for Series 35 and Series 36, respectively. Of the total proceeds received by the investment partnerships, $37,500 and $37,500 for Series 35 and Series 36, respectively, represents reporting fees due to an affiliate of the investment partnerships and the balance represents proceeds from the sale. Of the remaining proceeds, $1,250 and $1,250 for Series 35 and Series 36, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $2,294,803 and $2,294,803 for Series 35 and Series 36, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $2,294,803 and $2,294,803 for Series 35 and Series 36, respectively, as of June 30, 2016. In September 2016, the investment partnership received additional proceeds for its share of the Operating Partnership's cash in the amount of $85,949 and $85,949 for Series 35 and Series 36, respectively, which were returned to the cash reserves held by the Series. In January 2017, the investment partnership received additional proceeds for its share of the Operating Partnership's cash in the amount of $12,121 and $12,121 for Series 35 and Series 36, respectively, which were returned to the cash reserves held by the Series.

In November 2016, the operating general partner of Columbia Woods, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on February 6, 2017. The sales price of the property was $7,450,000, which included the outstanding mortgage balance of approximately $3,865,108 and cash proceeds to the investment partnerships of $168,307 and $422,243 for Series 35 and Series 37, respectively. Of the total proceeds received by the investment partnerships, $2,850 and $7,150 for Series 35 and Series 37, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $165,457 and $415,093 for Series 35 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $165,457 and $415,093 for Series 35 and Series 37, respectively, as of March 31, 2017.

In September 2017, the investment general partner transferred its interest in Cypress Point Housing Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,480,787 and cash proceeds to the investment partnership of $2,656,528. Of the total proceeds received, $3,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $2,653,528 were returned to cash reserves held by Series 35. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $2,653,528 as of September 30, 2017.

Series 36

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 3 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 36 reflects a net loss from Operating Partnerships of $(98,904) and $(113,395), respectively, which includes depreciation and amortization of $126,835 and $146,670, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In May 2016, the investment general partner transferred its interest in Paris Place Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,065,498 and cash proceeds to the investment partnership of $80,000. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $75,000 were returned to cash reserves held by Series 36. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $75,000 as of June 30, 2016.

In May 2016, the investment general partner transferred its interest in Valleyview Estates, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $259,710 and cash proceeds to the investment partnership of $50,000. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $45,000 were returned to cash reserves held by Series 36. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $45,000 as of June 30, 2016.

In June 2016, the investment general partner of Series 36 and Series 37 transferred their respective interests in Senior Suites Chicago Washington Heights Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $4,321,470 and cash proceeds to the investment partnerships of $5,000 and $5,000 for Series 36 and Series 37, respectively. Of the total proceeds received, $2,500 and $2,500 for Series 36 and Series 37, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $2,500 and $2,500 for Series 36 and Series 37, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $2,500 and $2,500 for Series 36 and Series 37, respectively, as of June 30, 2016.

Wingfield Apartments Limited Partnership

Ashton Ridge L.D.H.A., L.P.

Series 37

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 1 property at December 31, 2017, which was at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 37 reflects a net loss from Operating Partnerships of $(88,845) and $(463,828), respectively, which includes depreciation and amortization of $197,321 and $622,199, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In December 2016, the investment general partner transferred their respective interests in Baldwin Villas Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $5,226,317 and no cash proceeds to the investment partnerships and no cash proceeds returned to the cash reserves held by Series 37, Series 40 and Series 45, respectively. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership has been recorded as of December 31, 2016.

In September 2016, the investment general partner transferred its interest in FAH Silver Pond Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $2,695,732 and cash proceeds to the investment partnership of $1,932,139. The proceeds of approximately $1,932,139 were returned to cash reserves held by Series 37. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer has been recorded in the amount of $1,932,139 as of September 30, 2016.

Ashton Ridge L.D.H.A., L.P.

Series 38

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 4 properties at December 31, 2017, all of which were at 100% qualified occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 38 reflects a net loss from Operating Partnerships of $(78,178) and $(204,413), respectively, which includes depreciation and amortization of $279,470 and $583,791, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In November 2016, the operating general partner of Columbia Creek, Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on January 3, 2017. The sales price of the property was $12,700,000, which included the outstanding mortgage balance of approximately $4,897,221 and cash proceeds to the investment partnerships of $1,112,310 and $1,157,711 for Series 38 and Series 39, respectively. Of the total proceeds received by the investment partnerships, $4,900 and $5,100 for Series 38 and Series 39, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,107,410 and $1,152,611 for Series 38 and Series 39, respectively, were returned to cash reserves held by Series 38 and Series 39, respectively. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $1,107,410 and $1,152,611 for Series 38 and Series 39, respectively, as of March 31, 2017.

In June 2016, the operating general partner of Andover Housing Associates Limited Partnership entered into an agreement to sell the property to a non-affiliated third party buyer and the transaction closed on November 15, 2016. The sales price of the property was $4,402,000, which included the outstanding mortgage balance of approximately $2,136,141 and cash proceeds to the investment partnership of $1,790,410. Of the total proceeds received by the investment partnership, $2,500 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $1,787,910 was returned to cash reserves held by Series 38. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $1,787,910 as of December 31, 2016.

In December 2016, the investment general partner transferred its interest in Edna Vanderbilt, LP, A Texas Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $216,530 and cash proceeds to the investment partnership of $9,600. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $7,100 were returned to cash reserves held by Series 38. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $7,100 as of December 31, 2016.

In October 2016, the operating general partner of Arbors at Eagle Crest LDHA LP entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on January 26, 2017. The sales price of the property was $3,700,000, which included the outstanding mortgage balance of approximately $2,078,128 and cash proceeds to the investment partnerships of $377,821 and $377,821 for Series 38 and Series 39, respectively. Of the total proceeds received by the investment partnerships, $6,543 and $6,543 for Series 38 and Series 39, respectively, was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $371,278 and $371,278 for Series 38 and Series 39, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $371,278 and $371,278 for Series 38 and Series 39, respectively, as of March 31, 2017.

Series 39

As of December 31, 2016, the average Qualified Occupancy for the series was 100%. The series did not have any properties as of December 31, 2017.

For the nine month periods ended December 31, 2017 and 2016, Series 39 reflects net loss from Operating Partnerships of $- and $(101,698), respectively, which includes depreciation and amortization of $- and $243,036, respectively. This is an interim period estimate; it is not indicative of the final year end results.

In May 2016, the investment general partner transferred its interest in Hillview, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $771,823 and cash proceeds to the investment partnership of $25,500. Of the total proceeds received, $3,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $22,500 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $22,500 as of June 30, 2016.

In July 2016, the investment general partner transferred its interest in Daystar Village, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $634,353 and cash proceeds to the investment partnership of $75,000. Of the total proceeds received, $4,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $70,500 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $70,500 as of September 30, 2016.

In August 2016, the investment general partner transferred its interest in Tally Ho Apartments Partnership, A Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $479,836 and cash proceeds to the investment partnership of $22,100. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $17,100 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $17,100 as of September 30, 2016.

In July 2016, the investment general partner transferred its interest in Austin Acres, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $793,420 and cash proceeds to the investment partnership of $16,000. Of the total proceeds received, $4,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $12,000 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $12,000 as of September 30, 2016.

In December 2017, the investment general partner transferred its interest in Timber Trails I Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $717,617 and cash proceeds to the investment partnership of $22,779. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $17,779 were returned to cash reserves held by Series 39. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $17,779 as of December 31, 2017.

Series 40

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 9 properties at December 31, 2017, all of which at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 40 reflects a net loss from Operating Partnerships of $(501,422) and $(349,637), respectively, which includes depreciation and amortization of $493,185 and $610,754, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In May 2016, the investment general partner transferred its interest in Londontown Homes, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $385,627 and cash proceeds to the investment partnership of $25,000. Of the total proceeds received, $4,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $20,500 were returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $20,500 as of June 30, 2016.

In July 2016, the investment general partner transferred its interest in Southbrook Homes, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $333,131 and cash proceeds to the investment partnership of $32,500. Of the total proceeds received, $4,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $28,500 were returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $28,500 as of September 30, 2016.

In January 2017, the investment general partner transferred its interest in Azle Fountainhead, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $924,937 and cash proceeds to the investment partnership of $47,200. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $44,700 were returned to cash reserves held by Series 40. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $44,700 as of March 31, 2017.

In August 2017, the investment general partner transferred their respective interests in Springfield Metro, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $23,195,469 and cash proceeds to the investment partnerships of $589,289 and $720,242 for Series 40 and Series 41, respectively. Of the total proceeds received, $337 and $413 for Series 40 and Series 41, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $588,952 and $719,829 for Series 40 and Series 41, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $588,952 and $719,829 for Series 40 and Series 41, respectively, as of September 30, 2017.

MA No 2

Center Place Apartments II Limited Partnership

Oakland Partnership

Series 41

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 14 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 41 reflects a net loss from Operating Partnerships of $(464,495) and $(407,379), respectively, which includes depreciation and amortization of $893,311 and $1,017,190, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

Harbor Pointe II/MHT LDHA Limited Partnership (Harbor Pointe II Apartments) is a 72-unit family property located in Benton Harbor, MI. The property continues to operate below breakeven. The investment general partner will continue to work with the operating general partner and the management company to monitor and improve operations. The operating general partner's operating deficit guaranteed has expired. The 15-year low income housing tax credit compliance period will expire on December 31, 2017.

In March 2017, the investment general partner transferred its interest in Sunshine Village Apartments, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $680,145 and cash proceeds to the investment partnership of $75,000. Of the total proceeds received, $4,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $70,500 were returned to cash reserves held by Series 41. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $70,500 as of March 31, 2017.

In December 2017, the investment general partner transferred its interest in Bienville Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $677,463 and cash proceeds to the investment partnership of $18,179. Of the total proceeds received, $1,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $17,179 were returned to cash reserves held by Series 41. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $17,179 as of December 31, 2017.

In December 2017, the investment general partner transferred its interest in Red Hill Apartments I Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $753,606 and cash proceeds to the investment partnership of $46,879. Of the total proceeds received, $1,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $45,879 were returned to cash reserves held by Series 41. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $45,879 as of December 31, 2017.

In January 2018, the investment general partner transferred their respective interests in San Diego/Fox Hollow, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $7,277,023 and cash proceeds to the investment partnerships of $245,497, $166,126 and $343,581 for Series 41, Series 42 and Series 43, respectively. Of the total proceeds received, $1,625, $1,100 and $2,275 for Series 41, Series 42 and Series 43, respectively, will paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $243,872, $165,026 and $341,306 for Series 41, Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

Bienville Partnership, A L.P.

San Diego/Fox Hollow, LP

Series 42

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 13 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 42 reflects a net loss from Operating Partnerships of $(595,763) and $(601,431), respectively, which includes depreciation and amortization of $801,778 and $844,726, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In November 2017, the investment general partner transferred their respective interests in Dorchester Court LDHA Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,993,006 and cash proceeds to the investment partnerships of $230,000 and $230,000 for Series 42 and Series 43, respectively. Of the total proceeds received, $4,500 and $4,500 for Series 42 and Series 43, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $225,500 and $225,500 for Series 42 and Series 43, respectively, were returned to cash reserves. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $225,500 and $225,500 for Series 42 and Series 43, respectively, as of December 31, 2017.

In December 2017, the investment general partner transferred its interest in Natchez Place Apartments II Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $726,453 and cash proceeds to the investment partnership of $37,779. Of the total proceeds received, $1,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $36,779 were returned to cash reserves held by Series 42. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $36,779 as of December 31, 2017.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

San Diego/Fox Hollow LP.

Wingfield Apartments Partnership II, LP

Series 43

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 18 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 43 reflects a net loss from Operating Partnerships of $(792,307) and $(815,731), respectively, which includes depreciation and amortization of $1,263,725 and $1,312,092, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have exited its LIHTC compliance period and there is therefore no risk to past credit delivery.

San Diego/Fox Hollow LP.

Parkside Plaza, LLP

Series 44

As of December 31, 2017 and 2016, the average Qualified Occupancy was 100%. The series had a total of 7 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 44 reflects a net loss from Operating Partnerships of $(179,199) and $(164,940), respectively, which includes depreciation and amortization of $1,025,862 and $1,079,209, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

United Development CO. 2001 LP (Memphis 102) is a 102-unit single family home scattered site development, located in Memphis, TN. In September 2013, the court-appointed receiver for the Operating Partnership entered into an agreement to sell the property to a third-party buyer for $1,173,000; the sale transaction closed on November 26, 2013. After payment of the outstanding real estate taxes, the remaining proceeds of $210,000 were paid to the first mortgage lender. There were no cash proceeds to the investment partnership. The buyer agreed to operate the property in accordance with the land use and regulatory agreement as well as Section 42 of the Tax Code; therefore, resulting in no tax credit recapture or interest penalties for the investment limited partner stemming from the sale. The investment limited partners will; however, lose federal tax credits in 2013 and 2014 totaling $30,660 and $131,253, respectively, in addition to the recapture in 2012 totaling $281,707, equivalent to $104 per 1,000 BACs. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain on the sale of the Operating Partnership has been recorded. Despite the sale of the property, the low income housing tax credit compliance period for the tax credits received remains unchanged and will expire on December 31, 2018.

United Development Limited Partnership 2001 (Families First II) is a 66-unit single family house development located in West Memphis, AR. Due to low occupancy, deferred maintenance, high operating expenses and high debt service, the partnership operates below breakeven. The operating general partner, whose operating deficit guarantee has expired, provides limited oversight of property operations. For the most part, it was the third party property management company and the investment general partner who directed property operations starting in January 2014. Beginning in the fourth quarter of 2013 and continuing through October 23, 2015, the investment limited partner had advanced $201,849 from fund reserves to Families First II to finance operating deficits. No further advances were made by the investment limited partner during the remainder of the fourth quarter of 2015 or during the first half of 2016. Starting in November 2015, mortgage payments were not made by the Operating Partnership. As a result, the lender issued a default notice on December 8, 2015, and accelerated payment of the mortgage note. On February 10, 2016 the court appointed a receiver to manage the property. The foreclosure on the property occurred on July 21, 2016. The tax credit recapture costs and interest penalties as a result of the foreclosure sale is estimated at $780,762. This is equivalent to recapture costs and interest penalties of $289 per 1,000 BACs. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, no gain or loss on the foreclosure of the Operating Partnership has been reported. Note that the 15-year low income housing tax credit compliance period for Families First II would have expired on December 31, 2018.

Series 45

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 27 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 45 reflects a net loss from Operating Partnerships of $(595,305) and $(617,554), respectively, which includes depreciation and amortization of $1,476,660 and $1,506,167 respectively. This is an interim period estimate; it is not indicative of the final year-end results.

Brookside Square Limited Partnership (Brookside Square Apartments) is a 32-unit property located in Boykins, VA. On June 18, 2017 a guest of the property, while trying to park the car, drove into unit 202 causing significant structural damage. There were no injuries reported, and as a result of the accident units 202 and 203 were condemned by the building inspector. One resident was evicted as a result of the accident and one resident was relocated to a vacant unit. The management agent hired a contractor to complete the repairs at a cost of $20,443. The work started October 3, 2017 and completed on November 3, 2017. The property received full reimbursement for the claim, and loss of rents in the amount of $2,108. The property operated above breakeven with occupancy of 94% as of December 31, 2017. The operating general partner's operating deficit guaranteed has expired. The 15-year low income housing tax credit compliance period with will expire on December 31, 2018. As the property has stabilized and is now operating above breakeven, the investment general partner will cease reporting for Brookside Square Limited Partnership subsequent to December 31, 2017.

Jefferson Housing, LP (Jefferson House) is a 101-unit property located in Lynchburg, VA. Due to a workout agreement with the Lender, VHDA, the property was operating above breakeven. However, the workout agreement ended May 1, 2016. The property continues to operate below breakeven. The investment general partner will continue to work with the operating general partner and the management company to monitor and improve operations in conjunction with the Virginia Housing Development Authority. The operating general partner's has an unlimited operating deficit guarantee. The low income housing tax credit compliance period expires on December 31, 2019.

Bartlett Bayou, L.P. (Bartlett Bayou Apartments) is a 48-unit family property in Pascagoula, MS. The property operated below breakeven in 2016 due to high operating expenses. An increase in legal costs and a drop in occupancy at the beginning of 2017 caused below breakeven operations to continue through the third quarter. Occupancy improved to 98% in December 2017 and averaged 96% for the year. Increased revenues combined with a decrease in operating expenses in the fourth quarter allowed the property to operate slightly above breakeven. The investment general partner will continue to work with the operating general partner and the management company to maintain improved operations. The operating general partner's operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period for Bartlett Bayou, L.P. expires on December 31, 2021.

Borger Fountainhead L.P. (La Mirage Apartments) is a 48-unit family property in Borger, Texas. The property operated below breakeven in 2016 due to high maintenance and administrative expenses and low occupancy. Occupancy has improved to 93% in 2017 and maintenance and administrative expenses have both decreased. The operating general partner's operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period will expire on December 31, 2018. As the property has stabilized and is now operating above breakeven, the investment general partner will cease reporting for Borger Fountainhead, Limited Partnership subsequent to December 31, 2017.

Heritage Christian Home III, L.P. (Heritage Christian Home III, LP) is a 12-unit assisted living single room occupancy property for adults with developmental disabilities located in Rochester, NY. The property operated below breakeven in 2016 due to the allocation of staff salaries that had not been previously allocated to the property. Previously the salaries were funded by the operating general partner and guarantor. The staffs' salaries are now allocated to the property and any resulting operating deficits will be funded by the operating general partner. Due to the increased administrative expense, the property continued to operate below breakeven in 2017. The operating general partners operating deficit guarantee is unlimited in time and amount. The 15-year low income housing tax credit compliance period for Heritage Christian Home III, LP expired on December 31, 2017.

Reese I Limited Partnership (Reese Village Apartments) is a 40-unit property located in Emporia, VA. The property operated below breakeven in 2017 with occupancy of 93% as of December 31, 2017. The property is aging, and requiring significant replacements and repairs for each unit turn, which is the leading cause of the below breakeven operations. Management also replaced the manager and maintenance man for poor performance in 2017. With a new on-site management team in place, and more careful monitoring of expenses, the property will work towards breakeven operations. The investment general partner will work with the operating general partner on ways to reduce operating expenses. The operating general partner's operating deficit guaranteed has expired. The 15-year low income housing tax credit compliance period will expire on December 31, 2019.

Series 46

As of December 31, 2017 and 2016, the average Qualified Occupancy for the series was 100%. The series had a total of 14 properties at December 31, 2017, all of which were at 100% Qualified Occupancy.

For the nine month periods ended December 31, 2017 and 2016, Series 46 reflects a net loss from Operating Partnerships of $(282,209) and $(443,001), respectively, which includes depreciation and amortization of $857,671 and $976,513, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

Panola Housing Ltd. (Panola Apartments) is a 32-unit family property in Carthage, TX. The property operated below breakeven in 2016 largely due to high operating expenses. The property continued to operate below breakeven through the fourth quarter of 2017. High operating expenses are the main cause of the below breakeven operations. The investment general partner continues to work with the operating general partner and the management company to reduce expenses. The operating general partners operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period expires on December 31, 2018.

Linden-Shawnee Partners, Limited Partnership (Linden's Apartments) is a 54-unit family property in Shawnee, OK. Operations were below breakeven in 2016, largely due to management's inability to increase rents and retain current tenants, while incurring additional operating expenses. The investment general partner will continue to work with the operating general partner and management company to improve occupancy and overall operations. The operating general partner's operating deficit guarantee expires on December 31, 2020. The 15-year low income housing tax credit compliance period expires on December 31, 2020.

On November 22, 2016, the operating general partner of Agent Kensington Limited Partnership sold the property to an unrelated third party buyer. The sales price of the property was $6,625,000, which included the outstanding mortgage balance of approximately $4,023,594 and cash proceeds to the investment partnership of $398,183. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $393,183 were returned to cash reserves held by Series 46. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, has been recorded in the amount of $393,183 as of December 31, 2016. In December 2017, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $10,994 which was returned to the cash reserves.

Saint Martin Apartments, L.P. (Saint Martin Apartments) is a 40-unit family property in McComb, MS. The property operated slightly above breakeven in 2016 but operated below breakeven through the fourth quarter of 2017, mainly due to low occupancy. The investment limited partner will continue to work with the operating general partner on improving occupancy and will monitor operations. The 15-year low income housing tax credit compliance period for Saint Martin Apartments, L.P. expires on December 31, 2020.

Off Balance Sheet Arrangements

None.

Principal Accounting Policies and Estimates

The financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), which require the Fund to make various estimates and assumptions. The following section is a summary of some aspects of those accounting policies that may require subjective or complex judgments and are most important to the portrayal of the Fund's financial condition and results of operations. The Fund believes that there is a low probability that the use of different estimates or assumptions in making these judgments would result in materially different amounts being reported in the financial statements.

The Fund is required to assess potential impairments to its long-lived assets, which are primarily investments in limited partnerships. The Fund accounts for its investment in limited partnerships in accordance with the equity method of accounting since the Fund does not control the operations of the Operating Partnerships. The purpose of an impairment analysis is to verify that the real estate investment balance reflected on the balance sheet does not exceed the value of the underlying investments.

If the book value of the Fund's investment in an Operating Partnership exceeds the estimated value derived by management, which generally consists of the remaining future Low-Income Housing Credits allocable to the Fund and the estimated residual value to the Fund, the Fund reduces its investment in the Operating Partnership.

The main reason an impairment loss typically occurs is that the annual operating losses, recorded in accordance with the equity method of accounting, of the investment in limited partnership does not reduce the balance as quickly as the annual use of the tax credits. In years prior to the year ended March 31, 2009, management included remaining tax credits as well as residual value in the calculated value of the underlying investments. However, management decided to take a more conservative approach to the investment calculation and determined that the majority of the residual value component of the valuation was zero for the years ended March 31, 2017 and 2016. However, it is important to note that this change in the accounting estimate to the calculation method of the impairment loss has no effect on the actual value or performance of the overall investment, nor does it have any effect on the remaining credits to be generated.

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

Principal Accounting Policies and Estimates - continued

Based on this guidance, the Operating Partnerships in which the Fund invests meet the definition of a VIE because the owners of the equity at risk in these entities do not have the power to direct their operations. However, management does not consolidate the Fund's interests in these VIEs, as it is not considered to be the primary beneficiary since it does not have the power to direct the activities that are considered most significant to the economic performance of these entities. The Fund currently records the amount of its investment in these partnerships as an asset on its balance sheets, recognizes its share of partnership income or losses in the statements of operations, and discloses how it accounts for material types of these investments in its financial statements. The Fund's balance in investment in Operating Partnerships, advances made to Operating Partnerships, plus the risk of recapture of tax credits previously recognized on these investments, represents its maximum exposure to loss. The Fund's exposure to loss on these partnerships is mitigated by the condition and financial performance of the underlying Housing Complexes as well as the strength of the general partners and their guarantee against credit recapture to the investors of the Fund.

Item 3	Quantitative and Qualitative Disclosures About Market Risk

	Not Applicable

Item 4	Controls and Procedures

	(a)	Evaluation of Disclosure Controls and Procedures
		As of the end of the period covered by this report, the Fund's general partner, under the supervision and with the participation of the Principal Executive Officer and Principal Financial Officer of C&M Management Inc., carried out an evaluation of the effectiveness of the Fund's "disclosure controls and procedures" as defined under the Securities Exchange Act of 1934 Rules 13a-15 and 15d-15 with respect to each series individually, as well as the Fund as a whole. Based on that evaluation, the Fund's Principal Executive Officer and Principal Financial Officer have concluded that as of the end of the period covered by this report, the Fund's disclosure controls and procedures were effective to ensure that information relating to any series or the Fund as a whole required to be disclosed by it in the reports that it files or submits under the Securities Exchange Act of 1934 (i) is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms and (ii) is accumulated and communicated to the Fund's management, including the Fund's Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure with respect to each series individually, as well as the Fund as a whole.
	(b)	Changes in Internal Controls

		There were no changes in the Fund's internal control over financial reporting that occurred during the quarter ended December 31, 2017 that materially affected, or are reasonably likely to materially affect, the Fund's internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1.	Legal Proceedings

	None

Item 1A.	Risk Factors

	There have been no material changes from the risk factors set forth under Part I, Item 1A. "Risk Factors" in our Form 10-K for the fiscal year ended March 31, 2017.

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds

	None

Item 3.	Defaults Upon Senior Securities

	None

Item 4.	Mine Safety Disclosures

	Not Applicable

Item 5.	Other Information

	None

Item 6.	Exhibits

		31.a Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of John P. Manning, Principal Executive Officer, filed herewith

		31.b Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of Marc N. Teal, Principal Financial Officer, filed herewith

		32.a Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of John P. Manning, Principal Executive Officer, filed herewith

		32.b Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of Marc N. Teal, Principal Financial Officer, filed herewith

		101. The following materials from the Boston Capital Tax Credit Fund IV L.P. Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2017 formatted in Extensible Business Reporting Language (XBRL): (i) the Condensed Balance Sheets, (ii) the Condensed Statements of Operations, (iii) the Condensed Statements of Changes in Partners' Capital (Deficit), (iv) the Condensed Statements of Cash Flows and (v) related notes, filed herein

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

	Boston Capital Tax Credit Fund IV L.P.

	By:	Boston Capital Associates IV L.P. General Partner


	By:	BCA Associates Limited Partnership General Partner

	By:	C&M Management, Inc. General Partner

Date: February 13, 2018		By:	/s/ John P. Manning John P. Manning

Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the
Fund and in the capacities and on the dates indicated:

DATE:	SIGNATURE:	TITLE:

February 13, 2018	/s/ John P. Manning	Director, President (Principal Executive Officer), C&M Management, Inc.; Director, President (Principal Executive Officer) BCTC IV Assignor Corp.
	John P. Manning






February 13, 2018	/s/ Marc N. Teal Marc N. Teal	Sr. Vice President, Chief Financial Officer (Principal Accounting and Financial Officer) C&M Management Inc.; Sr. Vice President, Chief Financial Officer (Principal Accounting and Financial Officer) BCTC IV Assignor Corp.

Attached files

BF Garden Tax Credit Fund IV L.P. Reports

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