Commonwealth Income & Growth Fund V (CIGF5) 10-K 1 Apr 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Jun. 30, 2018
Document and Entity Information:
Entity Registrant Name	COMMONWEALTH INCOME & GROWTH FUND V
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Trading Symbol	cigf5
Amendment Flag	false
Entity Central Index Key	0001253347
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	0
Entity Public Float		$ 0
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Current Reporting Status	No
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Entity Incorporation, State Country Name	Commonwealth of Pennsylvania

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 19,695	$ 12,338
Lease income receivable, net of reserve of approximately $10,000 at December 31, 2018 and 2017	114,375	88,421
Other receivables	4,133	10,899
Prepaid expenses	1,165	1,269
Current Assets	139,368	112,927
Net investment in finance leases	21,334	54,556
Equipment, at cost	4,665,356	6,454,283
Accumulated depreciation	(4,113,846)	(5,552,816)
Technology equipment, net	551,510	901,467
Total Assets	712,212	1,068,950
LIABILITIES
Accounts payable	173,998	136,130
Accounts payable, CIGF, Inc. net	22,732	57,946
Accounts Payable Commonwealth Capital Corp, net	202,146	290,768
Other accrued expenses	2,979	2,980
Unearned lease income	19,894	49,670
Notes payable	303,642	601,736
Total Liabilities	725,391	1,139,230
COMMITMENTS AND CONTINGENCIES
PARTNERS' (DEFICIT) CAPITAL
General Partner	1,000	1,000
Limited Partners	(14,179)	(71,280)
Total Partners' (Deficit) Capital	(13,179)	(70,280)
Total Liabilities and Partners' Capital	$ 712,212	$ 1,068,950

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Lease income receivable, reserve	$ 10,000	$ 10,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenue
Lease	$ 574,222	$ 618,117
Interest and other	2,376	6,662
Gain on sale of equipment	17,056	18,692
Total revenue and gain on sale of equipment	593,654	643,471
Expenses
Operating, excluding depreciation and amortization	125,912	179,603
Interest	23,049	22,122
Depreciation	379,650	431,640
Bad debt expense	7,942	0
Total expenses	536,553	633,365
Other income
Gain from insurance recovery	0	10,863
Total other income	0	10,863
Net Income	57,101	20,969
Net income allocated to Limited Partners	$ 57,101	$ 20,969
Net income per equivalent Limited Partnership unit	$ 0.05	$ 0.02
Weighted average number of equivalent limited partnership units outstanding during the year	1,236,148	1,236,436

Statements of Partners' Capital

Statements of Partners' Capital - USD ($)	General Partners	Limited Partners {1}	Total
Partners' Capital at Dec. 31, 2016	$ 1,000	$ (89,923)	$ (88,923)
Partners' Capital Account, Units at Dec. 31, 2016	50	1,236,608
Net income (loss)		$ 20,969	20,969
Partners' Capital Account, Redemptions		$ (2,610)	(2,610)
Partners' Capital Account, Units, Redeemed		(460)
Capital Contribution		$ 284	284
Partners' Capital at Dec. 31, 2017	$ 1,000	$ (71,280)	(70,280)
Partners' Capital Account, Units at Dec. 31, 2017	50	1,236,148
Net income (loss)		$ 57,101	57,101
Capital Contribution			0
Partners' Capital at Dec. 31, 2018	$ 1,000	$ (14,179)	$ (13,179)
Partners' Capital Account, Units at Dec. 31, 2018	50	1,236,148

Statements of Cash Flow

Statements of Cash Flow - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net income	$ 57,101	$ 20,969
Adjustments to reconcile net income to net cash (used in) provided by provided by operating activities
Depreciation and amortization	379,650	431,640
Gain on sale of equipment	(17,056)	(18,692)
Other noncash activities
Lease revenue net of interest expense, on notes payable, realized as a result of direct payment of principal to bank by lessee	(298,094)	(310,389)
Earned interest on finance leases	(2,361)	(185)
Changes in assets and liabilities
Lease income receivable	(25,954)	(46,494)
Other receivables	18,841	9,855
Receivables - other LP's	(12,075)	0
Prepaid expenses	104	(960)
Accounts payable	37,867	8,844
Accounts payable, Commonwealth Capital Corp., net	(88,622)	41,243
Accounts payable, CIGF, Inc., net	(35,214)	(47,046)
Other accrued expenses	0	(13,121)
Unearned lease income	(29,776)	21,693
Net cash (used in) provided by operating activities	(15,589)	97,357
Net cash used in investing activities
Capital expenditures	(30,275)	(131,816)
Purchase of finance leases	0	(1,721)
Payments from finance leases	27,153	9,994
Net proceeds from the sale of equipment	26,068	24,321
Net cash provided by (used in) investing activities	22,946	(99,222)
Net cash used in financing activities
Redemptions	0	(2,610)
Capital Contributions	0	284
Net cash used in financing activities	0	(2,326)
Net increase (decrease) in cash and cash equivalents	7,357	(4,191)
Cash and cash equivalents beginning of period	12,338	16,529
Cash and cash equivalents end of period	$ 19,695	$ 12,338

Business

Business	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Business	Commonwealth Income & Growth Fund V (the “Partnership”) is a limited partnership organized in the Commonwealth of Pennsylvania in May 2003. The Partnership offered for sale up to 1,250,000 units of the limited partnership at the purchase price of $20 per unit (the “offering”). The Partnership reached the minimum amount in escrow and commenced operations on March 14, 2005. As of February 24, 2006, the Partnership was fully subscribed. For the year ended December 31, 2018, limited partners did not redeem any units of the partnership in accordance with the terms of the limited partnership agreement. For the year ended December 31, 2017, limited partners redeemed 460 units of the partnership for a total redemption price of approximately $3,000 in accordance with the terms of the limited partnership agreement. The Partnership used the proceeds of the offering to acquire, own and lease various types of information technology, medical technology, telecommunications technology, inventory management equipment and other similar capital equipment, which is leased primarily to U.S. corporations and institutions. Commonwealth Capital Corp. (“CCC”), on behalf of the Partnership and other affiliated partnerships, acquires equipment subject to associated debt obligations and lease agreements and allocates a participation in the cost, debt and lease revenue to the various partnerships that it manages based on certain risk factors. The Partnership’s investment objective is to acquire primarily high technology equipment. Information technology has developed rapidly in recent years and is expected to continue to do so. Technological advances have permitted reductions in the cost of information technology processing capacity, speed, and utility. In the future, the rate and nature of equipment development may cause equipment to become obsolete more rapidly. The Partnership also acquires high technology medical, telecommunications and inventory management equipment. The Partnership’s general partner will seek to maintain an appropriate balance and diversity in the types of equipment acquired. The market for high technology medical equipment is growing each year. Generally, this type of equipment will have a longer useful life than other types of technology equipment. This allows for increased re-marketability, if it is returned before its economic or announcement cycle is depleted. The Partnership’s General Partner is Commonwealth Income & Growth Fund, Inc. (the “General Partner”), a Pennsylvania corporation which is an indirect wholly owned subsidiary of CCC. Approximately ten years after the commencement of operations (the “operational phase”), the Partnership intended to sell or otherwise dispose of all of its equipment; make final distributions to partners, and to dissolve. The Partnership was originally scheduled to end its operational phase on February 4, 2017. During the year ended December 31, 2015, the operational phase was officially extended to December 31, 2020 through an investor proxy vote. The Partnership is expected to terminate on December 31, 2022. Allocations of income and distributions of cash are based on the Agreement. The various allocations under the Agreement prevent any limited partner’s capital account from being reduced below zero and ensure the capital accounts reflect the anticipated sharing ratios of cash distributions, as defined in the Agreement. For General Partner will reassess the funding of limited partner distributions on a quarterly basis, throughout 2019. Liquidity and Going Concern The General Partner will continue to reassess the funding of limited partner distributions throughout 2019 and will continue to waive certain fees if the General Partner determines it is in the best interest of the Partnership to do so. If available cash flow or net disposition proceeds are insufficient to cover the Partnership expenses and liabilities on a short and long term basis, the Partnership may attempt to obtain additional funds by disposing of or refinancing equipment, or by borrowing within its permissible limits. Additionally, the Partnership will seek to enhance portfolio returns and maximize cash flow through the use of leveraged lease transactions: the acquisition of lease equipment through debt financing. This strategy allows the General Partner to acquire additional revenue generating leases thus maximizing overall return. For the year ended December 31, 2018, the Partnership acquired approximately $30,000 in equipment, of which $0 is leveraged. For the year ended December 31, 2017, the Partnership acquired approximately $684,000 in equipment, of which approximately $574,000 is leveraged. The Partnership has a working capital deficit at December 31, 2018. The Partnership believes it has alleviated these conditions as discussed below. The General Partner and CCC have committed to fund, either through cash contributions and/or forgiveness of indebtedness, any necessary operational cash shortfalls of the Partnership through March 31, 2020. The General Partner and CCC will also determine if related party payables owed to them by the Partnership may be deferred (if deemed necessary) in an effort to further increase the Partnership’s cash flow.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Summary of Significant Accounting Policies	Use of Estimates The preparation of financial statements is in conformity with accounting principles generally accepted in the United States of America which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and these differences could be material. Such estimates relate primarily to the determination of residual values at the end of the lease term, the expected future cash flows, and fair value used for impairment analysis purposes and determination of the allowance for doubtful accounts. Disclosure of Fair Value of Financial Instruments Fair Value Measurements The Partnership applies the provisions included in the Fair Value Measurements and Disclosures Topic to all financial and non-financial assets and liabilities. This Topic emphasizes that fair value is a market-based measurement, not an entity-specific measurement. It clarifies that fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. The Topic requires the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize use of unobservable inputs. These inputs are prioritized as follows: ● Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. ● Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. ● Level 3: Unobservable inputs for which there is little or no market data and which require internal development of assumptions about how market participants price the asset or liability. There were no assets or liabilities measured at fair value on a recurring basis at December 31, 2018 and 2017. There were no assets or liabilities measured on a non-recurring basis at December 31, 2018 and 2017. Fair Value disclosures of financial instruments Estimated fair value was determined by management using available market information and appropriate valuation methodologies. However, judgment was necessary to interpret market data and develop estimated fair value. Cash, other receivables, accounts payable and other accrued expenses are carried at amounts which reasonably approximate their fair values as of December 31, 2018 and 2017 due to the immediate or short-term nature of these financial instruments. The Partnership’s long-term debt consists of notes payable, which are secured by specific equipment and are nonrecourse liabilities of the Partnership. The estimated fair value of this debt at December 31, 2018 and 2017 approximates the carrying value of these instruments, due to the interest rates on this debt approximating current market interest rates. The Partnership classifies the fair value of its notes payable within Level 2 of the valuation hierarchy based on the observable inputs used to estimate fair value. Revenue Recognition For the years ended December 31, 2018 and 2017, the Partnership’s lease portfolio consisted of operating leases and finance leases. For operating leases, lease revenue is recognized on a straight-line basis in accordance with the terms of the lease agreement. Finance lease interest income is recorded over the term of the lease using the effective interest method. For finance leases, we record, at lease inception, unearned finance lease income which is calculated as follows: total lease payments, plus any residual value and initial direct costs, less the cost of the leased equipment. Upon the end of the lease term, if the lessee has not met the return conditions as set out in the lease, the Partnership is entitled in certain cases to additional compensation from the lessee. The Partnership’s accounting policy for recording such payments is to treat them as revenue. Gains or losses from sales of leased and off-lease equipment are recorded on a net basis in the Partnership’s Statement of Operations. Recently Adopted Accounting Pronouncements In February 2018, the FASB issued Accounting Standards Update No. 2018-03, Technical Corrections and Improvements to Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities- Recent Accounting Pronouncements Not Yet Adopted In December 2018, the FASB issued ASU No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors In March 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) Section A—Leases: Amendments to the FASB Accounting Standards Codification® Section B—Conforming Amendments Related to Leases: Amendments to the FASB Accounting Standards Codification® Section C—Background Information and Basis for Conclusions Included within the scope of FASB Accounting Standards Update No. 2016-02, Leases (Topic 842) is FASB Accounting Standards Update No. 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842); Income Statement—Reporting Comprehensive Income (Topic 220), Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606) (SEC Update)(“ASC 606”); , Codification Improvements- Leases (Topic 842); , Leases (Topic 842)Targeted Improvements. Other Assets Equipment acquisition costs and deferred expenses are amortized on a straight-line basis over two-to-four year lives based on the original term of the lease and the loan, respectively. Unamortized acquisition costs and deferred expenses are charged to amortization expense when the associated leased equipment is sold. Long-Lived Assets Depreciation on equipment for financial statement purposes is based on the straight-line method estimated generally over useful lives of two to five years. Once an asset comes off lease or is released, the Partnership reassesses the useful life of an asset. The Partnership evaluates its long-lived assets when events or circumstances indicate that the value of the asset may not be recoverable. The Partnership determines whether impairment exists by estimating the undiscounted cash flows to be generated by each asset. If the estimated undiscounted cash flows are less than the carrying value of the asset then impairment exists. The amount of the impairment is determined based on the difference between the carrying value and the fair value. Fair value is determined based on estimated discounted cash flows to be generated by the asset, third party appraisals or comparable sales of similar assets, as applicable, based on asset type. Residual values are determined by management and are calculated using information from both internal and external sources, as well as other economic indicators. Reimbursable Expenses Reimbursable expenses are comprised of both ongoing operational expenses and fees associated with the allocation of salaries and benefits, referred to as other LP (“other LP”) expenses. For the year ended December 31, 2018, the General Partner waived certain reimbursable expenses charged to the Partnership by CCC in connection with the administration and operation of the Partnership. CCC is not reimbursed for salary and benefit costs of control persons. Reimbursable expenses, which are charged to us by CCC in connection with our administration and operation, are allocated to us based upon several factors including, but not limited to, the number of investors, leasing volume and stage of the program. For example, if one partnership has more investors than another program sponsored by CCC, then higher amounts of expenses related to investor services, mailing and printing costs will be allocated to that partnership. Also, while a partnership is in its offering stage, higher compliance costs are allocated to it than to a program not in its offering stage, as compliance resources are utilized to review incoming investor suitability and proper documentation. Finally, lease related expenses, such as due diligence, correspondence, collection efforts and analysis staff costs, increase as programs purchase more leases, and decrease as leases terminate and equipment is sold. All of these factors contribute to CCC’s determination as to the amount of expenses to allocate to us or to other sponsored programs. CCC is not reimbursed for salary and benefit costs of control persons. For the Partnership, all reimbursable items are expensed as they are incurred. Forgiveness of Related Party Payables In accordance with ASC Topic 470-50 Debt Modifications and Extinguishments Lease Income Receivable Lease income receivable includes current lease income receivable net of allowances for uncollectible accounts, if any. The Partnership monitors lease income receivable to ensure timely and accurate payment by lessees. Its Lease Relations department is responsible for monitoring lease income receivable and, as necessary, resolving outstanding invoices. Lease revenue is recognized on a monthly straight-line basis which is in accordance with the terms of the lease agreement. The Partnership reviews a customer’s credit history before extending credit. When the analysis indicates that the probability of full collection is unlikely, the Partnership may establish an allowance for uncollectible lease income receivable based upon the credit risk of specific customers, historical trends and other information. The Partnership writes off its lease income receivable when it determines that it is uncollectible and all economically sensible means of recovery have been exhausted. Cash and cash equivalents We consider cash and cash equivalents to be cash on hand and highly liquid investments with the original maturity dates of 90 days or less. At December 31, 2018, cash was held in a bank account maintained at one financial institution with a balance of approximately $21,000. Bank accounts are federally insured up to $250,000 by the FDIC. At December 31, 2018 and 2017, the total cash bank balance was as follows: Balance at December 31 2018 2017 Total bank balance $ 21,000 $ 14,000 FDIC insured (21,000 ) (14,000 ) Uninsured amount $ - $ - The Partnership’s bank balances are fully insured by the FDIC. The Partnership deposits its funds with a Moody's AAA-Rated banking institution which is one of only three AAA-Rated banks listed on the New York Stock Exchange. The Partnership has not experienced any losses in such accounts, and believes it is not exposed to any significant credit risk. The amount in such accounts will fluctuate throughout 2019 due to many factors, including cash receipts, equipment acquisitions, interest rates, and distribution to limited partners. Income Taxes Pursuant to the provisions of Section 701 of the Internal Revenue Code, the Partnership is not subject to federal or state income taxes. All income and losses of the Partnership are the liability of the individual partners and are allocated to the partners for inclusion in their individual tax returns. The Partnership does not have any entity-level uncertain tax positions. In addition, the Partnership believes its tax status as a pass-through entity would be sustained under U.S. Federal, state or local tax examination. The Partnership files U.S. federal and various state income tax returns and is generally subject to examination by federal, state and local income tax authorities for three years from the filing of a tax return. Taxable income differs from financial statement net income as a result of reporting certain income and expense items for tax purposes in periods other than those used for financial statement purposes, principally relating to depreciation, amortization, and lease revenue. Net Income Per Equivalent Limited Partnership Unit The net income per equivalent limited partnership unit is computed based upon net income allocated to the limited partners and the weighted average number of equivalent units outstanding during the period.

Information Technology, Medical

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment ('Equipment')	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment ('Equipment')	The Partnership is the lessor of equipment under operating leases with periods that generally will range from 12 to 48 months. In general, associated costs such as repairs and maintenance, insurance and property taxes are paid by the lessee. Remarketing fees are paid to the leasing companies from which the Partnership purchases leases. These are fees that are earned by the leasing companies when the initial terms of the lease have been met. The General Partner believes that this strategy adds value since it entices the leasing company to remain actively involved with the lessee and encourages potential extensions, remarketing or sale of equipment. This strategy is designed to minimize any conflicts the leasing company may have with a new lessee and may assist in maximizing overall portfolio performance. The remarketing fee is tied into lease performance thresholds and is a factor in the negotiation of the fee. Remarketing fees incurred in connection with lease extensions are accounted for as operating costs. Remarketing fees incurred in connection with the sale of equipment are included in the gain or loss calculations. For the years ended December 31, 2018 and 2017, there were no remarketing fees incurred and/or paid with cash or netted against receivables due from such parties. Gains from the termination of leases are recognized when the lease is modified and terminated concurrently. There were no gains from lease terminations included in lease revenue for the years ended December 31, 2018 and 2017. CCC, on behalf of the Partnership and on behalf of other affiliated companies and partnerships (“partnerships”), acquires equipment subject to associated debt obligations and lease agreements and allocates a participation in the cost, debt and lease revenue to the various companies based on certain risk factors. The Partnership’s share of the cost of the equipment in which it participates with other partnerships at December 31, 2018 was approximately $3,567,000 and is included in the Partnership’s equipment on its balance sheet. The total cost of the equipment shared by the Partnership with other partnerships at December 31, 2018 was approximately $12,260,000. The Partnership’s share of the outstanding debt associated with this equipment at December 31, 2018 was approximately $218,000 and is included in the Partnership’s notes payable on its balance sheet. The total outstanding debt related to the equipment shared by the Partnership at December 31, 2018 was approximately $1,696,000. The Partnership’s share of the cost of the equipment in which it participates with other partnerships at December 31, 2017 was approximately $3,569,000 and is included in the Partnership’s equipment on its balance sheet. The total cost of the equipment shared by the Partnership with other partnerships at December 31, 2017 was approximately $12,263,000. The Partnership’s share of the outstanding debt associated with this equipment at December 31, 2017 was approximately $421,000 and is included in the Partnership’s notes payable on its balance sheet. The total outstanding debt related to the equipment shared by the Partnership at December 31, 2017 was approximately $3,035,000. As the Partnership and the other programs managed by the General Partner continue to acquire new equipment for the portfolio, opportunities for shared participation are expected to continue. Sharing in the acquisition of a lease portfolio gives the fund an opportunity to acquire additional assets and revenue streams, while allowing the fund to remain diversified and reducing its overall risk with respect to one portfolio. The following is a schedule of approximate future minimum rentals on non-cancelable operating leases: Years Ended December 31, Amount Year ending December 31, 2019 $ 275,000 Year ending December 31, 2020 89,000 Year ending December 31, 2021 7,000 $ 371,000 Finance Leases The following lists the approximate components of the net investment in direct financing leases: At December 31, 2018 2017 Total minimum lease payments to be received $ 15,000 $ 42,000 Estimated residual value of leased equipment (unguaranteed) 7,000 16,000 Less: unearned income (1,000 ) (3,000 ) Net investment in finance leases $ 21,000 $ 55,000 We assess credit risk for all of our customers, including those that lease under finance leases. This credit risk is assessed using an internally developed model which incorporates credit scores from third party providers and our own customer risk ratings and is periodically reviewed. Our internal ratings are weighted based on the industry that the customer operates in. Factors taken into consideration when assessing risk includes both general and industry specific qualitative and quantitative metrics. We separately take in to consideration payment history, open lawsuits, liens and judgments. Typically, we will not extend credit to a company that has been in business for less than 5 years or that has filed for bankruptcy within the same period. Our internally based model may classify a company as high risk based on our analysis of their audited financial statements. Additional considerations of high risk may include history of late payments, open lawsuits and liens or judgments. In an effort to mitigate risk, we typically require deposits from those in this category. A reserve for credit losses is deemed necessary when payment has not been received for one or more months of receivables due on the equipment held under finance leases. At the end of each period, management evaluates the open receivables due on this equipment and determines the need for a reserve based on payment history and any current factors that would have an impact on payments. The following table presents the credit risk profile, by creditworthiness category, of our direct finance lease receivables at December 31, 2018: Percent of Total Risk Level 2018 2017 Low -% -% Moderate-Low -% -% Moderate -% -% Moderate-High 100% 100% High -% -% Net Finance lease receivable 100% 100% As of the year ended December 31, 2018 we determined that we did not have a need for an allowance for uncollectible accounts associated with any of our finance leases, as the customer payment histories with us, associated with these leases, has been positive. The following is a schedule of approximate future minimum rentals on non-cancelable finance leases: Amount Year ending December 31, 2019 $ 9,000 Year ending December 31, 2020 6,000 $ 15,000 The Partnership was originally scheduled to end its operational phase on February 4, 2017. During the year ended December 31, 2015, the operational phase was officially extended to December 31, 2020 through an investor proxy vote (see note 1). The Partnership is expected to terminate on December 31, 2022. If the Partnership should terminate, CCC will assume all remaining active leases at their fair market value and related remaining revenue stream and any associated debt obligation for the duration of the remaining lease term.

Significant Customers

Significant Customers	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Significant Customers	Lessees equal to or exceeding 10% of lease revenue: Years Ended December 31, 2018 2017 Cummins, Inc. 40% 40% Alliant Techsystems 21% 22% Automatic Data Processing 11% ** ** Lessees equal to or exceeding 10% of net lease income receivable: At December 31, 2018 2017 Cummins, Inc. 72% 64% Automatic Data Processing 11% ** **

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Related Party Transactions	Receivables/Payables As of December 31, 2018 and 2017, the Company’s related party receivables and payables are short term, unsecured and non-interest bearing. Years ended December 31, 2018 2017 Reimbursable expenses The General Partner and its affiliates are entitled to reimbursement by the Partnership for the cost of goods, supplies or services obtained and used by the General Partner in connection with the administration and operation of the Partnership from third parties unaffiliated with the General Partner. In addition, the General Partner and its affiliates are entitled to reimbursement of certain expenses incurred by the General Partner and its affiliates in connection with the administration and operation of the Partnership, not including costs of the control persons, as defined in Item 10. During the years ended December 31, 2018 and 2017, the General Partner waived certain reimbursable expenses due to it by the Partnership. For the years ended December 31, 2018 and 2017, the Partnership was charged approximately $0 and $98,000 in Other LP expense, respectively. $ 132,000 $ 355,000 Equipment acquisition fee The General Partner earned an equipment acquisition fee of 4% of the purchase price of each item of equipment purchased as compensation for the negotiation of the acquisition of the equipment and lease thereof or sale under a conditional sales contract. For both years ended December 31, 2018 and 2017, approximately $1,000 and $27,000 of acquisition fees related to operating leases and finance leases were waived by the General Partner respectively. $ - $ - Debt placement fee As compensation for arranging term debt to finance our acquisition of equipment, we will pay the general partner a fee equal to one percent of such indebtedness; provided, however, that such fee shall be reduced to the extent we incur such fees to third parties unaffiliated with the general partner or the lender with respect to such indebtedness. No such fee will be paid with respect to borrowings from the general partner or its affiliates. We intend to initially acquire leases on an all cash basis with the proceeds of this offering, but may borrow funds after the offering proceeds have been invested. The amount we borrow, and therefore the amount of the fee, will depend upon interest rates at the time of a loan, and the amount of leverage we determine is appropriate at the time. We do not intend to use more than 30% leverage overall in our portfolio. Fees will increase as the amount of leverage we use increases, and as turnover in the portfolio increases and additional equipment is purchased using leverage. During the years ended December 31, 2018 and 2017, the General Partner earned but waived approximately $300 and $6,000 of debt placement fees, respectively. $ - $ - Equipment management fee The General Partner is entitled to be paid for managing the equipment portfolio a monthly fee equal to the lesser of (i) the fees which would be charged by an independent third party for similar services for similar equipment or (ii) the sum of (a) two percent of (1) the gross lease revenues attributable to equipment which is subject to full payout net leases which contain net lease provisions plus (2) the purchase price paid on conditional sales contracts as received by the Partnership and (b) 5% of the gross lease revenues attributable to equipment which is subject to operating leases. In an effort to increase future cash flow for the fund our General Partner had elected to reduce the percentage of equipment management fees paid to it from 5% to 2.5% of the gross lease revenues attributable to equipment which is subject to operating leases. The reduction was effective beginning in July 2010 and remained in effect for the years ended December 31, 2018 and 2017. $ 16,000 $ 5,000 Equipment liquidation fee With respect to each item of equipment sold by the General Partner (other than in connection with a conditional sales contract), a fee equal to the lesser of (i) 50% of the competitive equipment sale commission or (ii) three percent of the sales price for such equipment is payable to the General Partner. The payment of such fee is subordinated to the receipt by the limited partners of (i) a return of their net capital contributions and a 10% per annum cumulative return, compounded daily, on adjusted capital contributions and (ii) the net disposition proceeds from such sale in accordance with the Partnership Agreement. Such fee will be reduced to the extent any liquidation or resale fees are paid to unaffiliated parties. During both years ended December 31, 2018 and 2017, the General Partner earned but waived approximately $1,000 of equipment liquidation fees. $ - $ -

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Notes Payable	Notes payable consisted of the following approximate amounts: At December 31, 2018 2017 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $9,663, including interest, with final payment in February 2018 - 10,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in March 2018 - 1,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in April 2018 - 1,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $2,797, including interest, with final payment in June 2018 - 6,000 Installment notes payable to bank; interest at 4.23% due in quarterly installments of $458, including interest, with final payment in September 2018 - 2,000 Installment notes payable to bank; interest at 6.00% due in monthly installments ranging from $132 to $1,479, including interest, with final payment in September 2018 - 6,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $296 to $458, including interest, with final payment in October 2018 - 5,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $208, including interest, with final payment in November 2018 - 1,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $803 to $1,216, including interest, with final payment in February 2019 2,000 16,000 Installment note payable to bank; interest at 1.80% due in monthly installments of $2,116, including interest, with final payment in February 2019 4,000 29,000 Installment note payable to bank; interest at 4.47% due in monthly installments of $2,208, including interest, with final payment in February 2019 2,000 28,000 Installment note payable to bank; interest at 1.80% due in monthly installments of $175, including interest, with final payment in March 2019 1,000 3,000 Installment notes payable to bank; interest at 1.80% due in monthly installments ranging from $121 to $175, including interest, with final payment in April 2019 2,000 7,000 Installment note payable to bank; interest at 4.98% due in monthly installments of $2,847, including interest, with final payment in December 2019 33,000 65,000 Installment note payable to bank; interest at 5.25% due in quarterly installments of $8,102, including interest, with final payment in December 2019 31,000 61,000 Installment note payable to bank; interest at 4.87% due in quarterly installments of $11,897, including interest, with final payment in January 2020 57,000 101,000 Installment note payable to bank, interest at 5.25% due in monthly installments of $679, including interest, with final payment in June 2020 12,000 19,000 Installment note payable to bank; interest at 5.56% due in monthly installments of $2,925, including interest, with final payment in June 2020 50,000 82,000 Installment note payable to bank; interest at 4.87% due in monthly installments of $1,902, including interest, with final payment in July 2020 13,000 21,000 Installment note payable to bank; interest at 6.275% due in quarterly installments of $722, including interest, with final payment in September 2020 5,000 8,000 Installment note payable to bank; interest at 5.75% due in monthly installments of $857, including interest, with final payment in November 2020 19,000 27,000 Installment note payable to bank; interest at 5.31% due in quarterly installments of $4,618, including interest, with final payment in January 2021 39,000 55,000 Installment note payable to bank; interest at 4.7% due in monthly installments of $1,360, including interest, with final payment in February 2021 34,000 48,000 $ 304,000 $ 602,000 The notes are secured by specific technology equipment with a carrying value of approximately $491,000 and are nonrecourse liabilities of the Partnership. As such, the notes do not contain any financial debt covenants with which we must comply on either an annual or quarterly basis. Aggregate approximate payments of notes payable for each of the periods subsequent to December 31, 2018 are as follows: Years Ended December 31, Amount 2019 213,000 2020 84,000 2021 7,000 $ 304,000 The Partnership was originally scheduled to end its operational phase on February 4, 2017. During the year ended December 31, 2015, the operational phase was officially extended to December 31, 2020 through an investor proxy vote (see note 1). The Partnership is expected to terminate on December 31, 2022. If the Partnership should terminate, CCC will assume the obligation related to the remaining notes payable for the duration of the remaining lease term. During 2015, the General Partner executed a collateralized debt financing agreement on behalf of certain affiliates for a total shared loan amount of approximately $847,000, of which the Partnership’s share was approximately $101,000. The Partnership’s portion of the current loan amount at December 31, 2018 and December 31, 2017, was approximately $2,000 and $21,000, respectively, and is secured by specific equipment under both operating and finance leases. The carrying value of the secured equipment under operating leases is approximately $0. The carrying value of the secured equipment under finance leases is approximately $22,000.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Supplemental Cash Flow Information	No interest or principal on notes payable was paid by the Partnership during 2018 and 2017 because direct payment was made by lessee to the bank in lieu of collection of lease income and payment of interest and principal by the Partnership. Noncash investing and financing activities approximately include the following: Years Ended December 31, 2018 2017 Debt assumed in connection with purchase of technology equipment $ - $ 574,000 During the years ended December 31, 2018 and 2017, the Partnership wrote-off fully depreciated equipment of approximately $529,000 and $88,000, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Commitments and Contingencies	FINRA On May 3, 2013, the FINRA Department of Enforcement filed a complaint naming Commonwealth Capital Securities Corp. (“CCSC”) and the owner of the firm, Kimberly Springsteen-Abbott, as respondents; however on October 22, 2013, FINRA filed an amended complaint that dropped the allegations against CCSC and reduced the scope of the allegations against Ms. Springsteen-Abbott. The sole remaining charge was that Ms. Springsteen-Abbott had approved the misallocation of some expenses to certain Funds. Management believes that the expenses at issue include amounts that were proper and that were properly allocated to Funds, and also identified a smaller number of expenses that had been allocated in error, but were adjusted and repaid to the affected Funds when they were identified in 2012. During the period in question, Commonwealth Capital Corp. (“CCC”) and Ms. Springsteen-Abbott provided important financial support to the Funds, voluntarily absorbed expenses and voluntarily waived fees in amounts aggregating in excess of any questioned allocations. A Hearing Panel ruled on March 30, 2015, that Ms. Springsteen-Abbott should be barred from the securities industry because the Panel concluded that she allegedly misallocated approximately $208,000 of expenses involving certain Funds over the course of three years. As such, management had allocated approximately $87,000 of the $208,000 in allegedly misallocated expenses back to the affected funds as a contingency accrual in CCC’s financial statements and a good faith payment for the benefit of those Income Funds. The decision of the Hearing Panel was stayed when it was appealed to FINRA's National Adjudicatory Council (the “NAC”) pursuant to FINRA Rule 9311. The NAC issued a decision that upheld the lower panel’s ruling and the bar took effect on August 23, 2016. Ms. Springsteen-Abbott appealed the NAC’s decision to the U.S. Securities and Exchange Commission (the “SEC”). On March 31, 2017, the SEC criticized that decision as so flawed that the SEC could not even review it, and remanded the matter back to FINRA for further consideration consistent with the SEC’s remand, but did not suggest any view as to a particular outcome. On July 21, 2017, FINRA reduced the list of 1,840 items totaling $208,000 to a remaining list of 84 items totaling $36,226 (which includes approximately $30,000 of continuing education expenses for personnel providing services to the Funds), and reduced the proposed fine from $100,000 to $50,000, but reaffirmed its position on the bar from the securities industry. Respondents promptly appealed FINRA’s revised ruling to the SEC. That appeal is pending as of April 1, 2019. All requested or allowed briefs have been filed with the SEC. Management believes that whatever final resolution of this may be, it will not result in any material adverse financial impact on the Funds, although a final assurance cannot be provided until the legal matter is resolved.

Reconciliation of Amounts Repor

Reconciliation of Amounts Reported For Financial Reporting Purposes To Amounts On The Federal Partnership Return (unaudited)	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Reconciliation of Amounts Reported For Financial Reporting Purposes To Amounts On The Federal Partnership Return (unaudited)	The tax basis of the Partnership’s net assets and liabilities vary from the amounts presented in these financial statements at December 31, 2018 and 2017 as follows: Years Ended December 31, 2018 2017 Financial statement basis of net assets $ (13,179 ) $ (70,280 ) Tax basis of net assets (unaudited) 231,618 29,062 Difference (unaudited) $ 244,797 $ 99,342 The primary differences between the tax basis of net assets and the amounts recorded in the financial statements are the result of differences in accounting for impairment losses, syndication costs and differences between the depreciation methods used in the financial statements and the Partnership’s tax returns (unaudited). Years Ended December 31, 2018 2017 Net income for financial reporting purposes to taxable loss $ 57,101 $ 20,969 Gain (Loss) on sale of equipment 2,734 (3,189 ) Depreciation 150,837 (230,333 ) Unearned lease income (29,777 ) 21,693 Penalties 1,168 1,579 Other 21,866 41,608 Taxable income (loss) on the Federal Partnership return (unaudited) $ 203,929 $ (147,673 ) The “Adjustments – Other” includes financial statement adjustments that will be reflected on the tax return in the subsequent year. Adjustment or loss on sale of equipment is due to longer useful lives for tax reporting purposes.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Policy Text Block [Abstract]
Use of Estimates	The preparation of financial statements is in conformity with accounting principles generally accepted in the United States of America which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and these differences could be material. Such estimates relate primarily to the determination of residual values at the end of the lease term, the expected future cash flows, and fair value used for impairment analysis purposes and determination of the allowance for doubtful accounts.
Fair Value Measurement	The Partnership applies the provisions included in the Fair Value Measurements and Disclosures Topic to all financial and non-financial assets and liabilities. This Topic emphasizes that fair value is a market-based measurement, not an entity-specific measurement. It clarifies that fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. The Topic requires the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize use of unobservable inputs. These inputs are prioritized as follows: ● Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. ● Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. ● Level 3: Unobservable inputs for which there is little or no market data and which require internal development of assumptions about how market participants price the asset or liability. There were no assets or liabilities measured at fair value on a recurring basis at December 31, 2018 and 2017. There were no assets or liabilities measured on a non-recurring basis at December 31, 2018 and 2017.
Fair Value Disclosures of Financial Instruments	Estimated fair value was determined by management using available market information and appropriate valuation methodologies. However, judgment was necessary to interpret market data and develop estimated fair value. Cash, other receivables, accounts payable and other accrued expenses are carried at amounts which reasonably approximate their fair values as of December 31, 2018 and 2017 due to the immediate or short-term nature of these financial instruments. The Partnership’s long-term debt consists of notes payable, which are secured by specific equipment and are nonrecourse liabilities of the Partnership. The estimated fair value of this debt at December 31, 2018 and 2017 approximates the carrying value of these instruments, due to the interest rates on this debt approximating current market interest rates. The Partnership classifies the fair value of its notes payable within Level 2 of the valuation hierarchy based on the observable inputs used to estimate fair value.
Revenue Recognition	For the years ended December 31, 2018 and 2017, the Partnership’s lease portfolio consisted of operating leases and finance leases. For operating leases, lease revenue is recognized on a straight-line basis in accordance with the terms of the lease agreement. Finance lease interest income is recorded over the term of the lease using the effective interest method. For finance leases, we record, at lease inception, unearned finance lease income which is calculated as follows: total lease payments, plus any residual value and initial direct costs, less the cost of the leased equipment. Upon the end of the lease term, if the lessee has not met the return conditions as set out in the lease, the Partnership is entitled in certain cases to additional compensation from the lessee. The Partnership’s accounting policy for recording such payments is to treat them as revenue. Gains or losses from sales of leased and off-lease equipment are recorded on a net basis in the Partnership’s Statement of Operations.
Recently Adopted Accounting Pronouncements	In February 2018, the FASB issued Accounting Standards Update No. 2018-03, Technical Corrections and Improvements to Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities-
Recent Accounting Pronouncements Not Yet Adopted	In December 2018, the FASB issued ASU No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors In March 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) Section A—Leases: Amendments to the FASB Accounting Standards Codification® Section B—Conforming Amendments Related to Leases: Amendments to the FASB Accounting Standards Codification® Section C—Background Information and Basis for Conclusions Included within the scope of FASB Accounting Standards Update No. 2016-02, Leases (Topic 842) is FASB Accounting Standards Update No. 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842); Income Statement—Reporting Comprehensive Income (Topic 220), Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606) (SEC Update)(“ASC 606”); , Codification Improvements- Leases (Topic 842); , Leases (Topic 842)Targeted Improvements.
Other Assets	Equipment acquisition costs and deferred expenses are amortized on a straight-line basis over two-to-four year lives based on the original term of the lease and the loan, respectively. Unamortized acquisition costs and deferred expenses are charged to amortization expense when the associated leased equipment is sold.
Long-Lived Assets	Depreciation on equipment for financial statement purposes is based on the straight-line method estimated generally over useful lives of two to five years. Once an asset comes off lease or is released, the Partnership reassesses the useful life of an asset. The Partnership evaluates its long-lived assets when events or circumstances indicate that the value of the asset may not be recoverable. The Partnership determines whether impairment exists by estimating the undiscounted cash flows to be generated by each asset. If the estimated undiscounted cash flows are less than the carrying value of the asset then impairment exists. The amount of the impairment is determined based on the difference between the carrying value and the fair value. Fair value is determined based on estimated discounted cash flows to be generated by the asset, third party appraisals or comparable sales of similar assets, as applicable, based on asset type. Residual values are determined by management and are calculated using information from both internal and external sources, as well as other economic indicators.
Reimbursable Expenses	Reimbursable expenses are comprised of both ongoing operational expenses and fees associated with the allocation of salaries and benefits, referred to as other LP (“other LP”) expenses. For the year ended December 31, 2018, the General Partner waived certain reimbursable expenses charged to the Partnership by CCC in connection with the administration and operation of the Partnership. CCC is not reimbursed for salary and benefit costs of control persons. Reimbursable expenses, which are charged to us by CCC in connection with our administration and operation, are allocated to us based upon several factors including, but not limited to, the number of investors, leasing volume and stage of the program. For example, if one partnership has more investors than another program sponsored by CCC, then higher amounts of expenses related to investor services, mailing and printing costs will be allocated to that partnership. Also, while a partnership is in its offering stage, higher compliance costs are allocated to it than to a program not in its offering stage, as compliance resources are utilized to review incoming investor suitability and proper documentation. Finally, lease related expenses, such as due diligence, correspondence, collection efforts and analysis staff costs, increase as programs purchase more leases, and decrease as leases terminate and equipment is sold. All of these factors contribute to CCC’s determination as to the amount of expenses to allocate to us or to other sponsored programs. CCC is not reimbursed for salary and benefit costs of control persons. For the Partnership, all reimbursable items are expensed as they are incurred.
Forgiveness of Related Party Payables	In accordance with ASC Topic 470-50 Debt Modifications and Extinguishments
Lease Income Receivable	Lease income receivable includes current lease income receivable net of allowances for uncollectible accounts, if any. The Partnership monitors lease income receivable to ensure timely and accurate payment by lessees. Its Lease Relations department is responsible for monitoring lease income receivable and, as necessary, resolving outstanding invoices. Lease revenue is recognized on a monthly straight-line basis which is in accordance with the terms of the lease agreement. The Partnership reviews a customer’s credit history before extending credit. When the analysis indicates that the probability of full collection is unlikely, the Partnership may establish an allowance for uncollectible lease income receivable based upon the credit risk of specific customers, historical trends and other information. The Partnership writes off its lease income receivable when it determines that it is uncollectible and all economically sensible means of recovery have been exhausted.
Cash and Cash Equivalents	We consider cash and cash equivalents to be cash on hand and highly liquid investments with the original maturity dates of 90 days or less. At December 31, 2018, cash was held in a bank account maintained at one financial institution with a balance of approximately $21,000. Bank accounts are federally insured up to $250,000 by the FDIC. At December 31, 2018 and 2017, the total cash bank balance was as follows: Balance at December 31 2018 2017 Total bank balance $ 21,000 $ 14,000 FDIC insured (21,000 ) (14,000 ) Uninsured amount $ - $ - The Partnership’s bank balances are fully insured by the FDIC. The Partnership deposits its funds with a Moody's AAA-Rated banking institution which is one of only three AAA-Rated banks listed on the New York Stock Exchange. The Partnership has not experienced any losses in such accounts, and believes it is not exposed to any significant credit risk. The amount in such accounts will fluctuate throughout 2019 due to many factors, including cash receipts, equipment acquisitions, interest rates, and distribution to limited partners.
Income Taxes	Pursuant to the provisions of Section 701 of the Internal Revenue Code, the Partnership is not subject to federal or state income taxes. All income and losses of the Partnership are the liability of the individual partners and are allocated to the partners for inclusion in their individual tax returns. The Partnership does not have any entity-level uncertain tax positions. In addition, the Partnership believes its tax status as a pass-through entity would be sustained under U.S. Federal, state or local tax examination. The Partnership files U.S. federal and various state income tax returns and is generally subject to examination by federal, state and local income tax authorities for three years from the filing of a tax return. Taxable income differs from financial statement net income as a result of reporting certain income and expense items for tax purposes in periods other than those used for financial statement purposes, principally relating to depreciation, amortization, and lease revenue.
Net Loss Per Equivalent Limited Partnership Unit	The net income per equivalent limited partnership unit is computed based upon net income allocated to the limited partners and the weighted average number of equivalent units outstanding during the period.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Table Text Block Supplement [Abstract]
Schedule of Cash and Cash Equivalents	Balance at December 31 2018 2017 Total bank balance $ 21,000 $ 14,000 FDIC insured (21,000 ) (14,000 ) Uninsured amount $ - $ -

Information Technology, Medic_2

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Table Text Block Supplement [Abstract]
Schedule of future minimum rentals on non-cancellable operating leases	Years Ended December 31, Amount Year ending December 31, 2019 $ 275,000 Year ending December 31, 2020 89,000 Year ending December 31, 2021 7,000 $ 371,000
Net investment in direct financing leases	At December 31, 2018 2017 Total minimum lease payments to be received $ 15,000 $ 42,000 Estimated residual value of leased equipment (unguaranteed) 7,000 16,000 Less: unearned income (1,000 ) (3,000 ) Net investment in finance leases $ 21,000 $ 55,000
Finance lease risk level	Percent of Total Risk Level 2018 2017 Low -% -% Moderate-Low -% -% Moderate -% -% Moderate-High 100% 100% High -% -% Net Finance lease receivable 100% 100%
Schedule of future minimum rentals on non-cancelable direct financing leases	Amount Year ending December 31, 2019 $ 9,000 Year ending December 31, 2020 6,000 $ 15,000

Significant Customers (Tables)

Significant Customers (Tables)	12 Months Ended
	Dec. 31, 2018
Table Text Block Supplement [Abstract]
Schedule of Lessees equal to or exceeding 10% of lease revenue	Years Ended December 31, 2018 2017 Cummins, Inc. 40% 40% Alliant Techsystems 21% 22% Automatic Data Processing 11% **
Schedule of Lessees equal to or exceeding 10% of lease income receivable	At December 31, 2018 2017 Cummins, Inc. 72% 64% Automatic Data Processing 11% **

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2018
Table Text Block Supplement [Abstract]
Schedule of Related Party Transactions	Years ended December 31, 2018 2017 Reimbursable expenses The General Partner and its affiliates are entitled to reimbursement by the Partnership for the cost of goods, supplies or services obtained and used by the General Partner in connection with the administration and operation of the Partnership from third parties unaffiliated with the General Partner. In addition, the General Partner and its affiliates are entitled to reimbursement of certain expenses incurred by the General Partner and its affiliates in connection with the administration and operation of the Partnership, not including costs of the control persons, as defined in Item 10. During the years ended December 31, 2018 and 2017, the General Partner waived certain reimbursable expenses due to it by the Partnership. For the years ended December 31, 2018 and 2017, the Partnership was charged approximately $0 and $98,000 in Other LP expense, respectively. $ 132,000 $ 355,000 Equipment acquisition fee The General Partner earned an equipment acquisition fee of 4% of the purchase price of each item of equipment purchased as compensation for the negotiation of the acquisition of the equipment and lease thereof or sale under a conditional sales contract. For both years ended December 31, 2018 and 2017, approximately $1,000 and $27,000 of acquisition fees related to operating leases and finance leases were waived by the General Partner respectively. $ - $ - Debt placement fee As compensation for arranging term debt to finance our acquisition of equipment, we will pay the general partner a fee equal to one percent of such indebtedness; provided, however, that such fee shall be reduced to the extent we incur such fees to third parties unaffiliated with the general partner or the lender with respect to such indebtedness. No such fee will be paid with respect to borrowings from the general partner or its affiliates. We intend to initially acquire leases on an all cash basis with the proceeds of this offering, but may borrow funds after the offering proceeds have been invested. The amount we borrow, and therefore the amount of the fee, will depend upon interest rates at the time of a loan, and the amount of leverage we determine is appropriate at the time. We do not intend to use more than 30% leverage overall in our portfolio. Fees will increase as the amount of leverage we use increases, and as turnover in the portfolio increases and additional equipment is purchased using leverage. During the years ended December 31, 2018 and 2017, the General Partner earned but waived approximately $300 and $6,000 of debt placement fees, respectively. $ - $ - Equipment management fee The General Partner is entitled to be paid for managing the equipment portfolio a monthly fee equal to the lesser of (i) the fees which would be charged by an independent third party for similar services for similar equipment or (ii) the sum of (a) two percent of (1) the gross lease revenues attributable to equipment which is subject to full payout net leases which contain net lease provisions plus (2) the purchase price paid on conditional sales contracts as received by the Partnership and (b) 5% of the gross lease revenues attributable to equipment which is subject to operating leases. In an effort to increase future cash flow for the fund our General Partner had elected to reduce the percentage of equipment management fees paid to it from 5% to 2.5% of the gross lease revenues attributable to equipment which is subject to operating leases. The reduction was effective beginning in July 2010 and remained in effect for the years ended December 31, 2018 and 2017. $ 16,000 $ 5,000 Equipment liquidation fee With respect to each item of equipment sold by the General Partner (other than in connection with a conditional sales contract), a fee equal to the lesser of (i) 50% of the competitive equipment sale commission or (ii) three percent of the sales price for such equipment is payable to the General Partner. The payment of such fee is subordinated to the receipt by the limited partners of (i) a return of their net capital contributions and a 10% per annum cumulative return, compounded daily, on adjusted capital contributions and (ii) the net disposition proceeds from such sale in accordance with the Partnership Agreement. Such fee will be reduced to the extent any liquidation or resale fees are paid to unaffiliated parties. During both years ended December 31, 2018 and 2017, the General Partner earned but waived approximately $1,000 of equipment liquidation fees. $ - $ -

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2018
Table Text Block Supplement [Abstract]
Schedule of Notes Payable	At December 31, 2018 2017 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $9,663, including interest, with final payment in February 2018 - 10,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in March 2018 - 1,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in April 2018 - 1,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $2,797, including interest, with final payment in June 2018 - 6,000 Installment notes payable to bank; interest at 4.23% due in quarterly installments of $458, including interest, with final payment in September 2018 - 2,000 Installment notes payable to bank; interest at 6.00% due in monthly installments ranging from $132 to $1,479, including interest, with final payment in September 2018 - 6,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $296 to $458, including interest, with final payment in October 2018 - 5,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $208, including interest, with final payment in November 2018 - 1,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $803 to $1,216, including interest, with final payment in February 2019 2,000 16,000 Installment note payable to bank; interest at 1.80% due in monthly installments of $2,116, including interest, with final payment in February 2019 4,000 29,000 Installment note payable to bank; interest at 4.47% due in monthly installments of $2,208, including interest, with final payment in February 2019 2,000 28,000 Installment note payable to bank; interest at 1.80% due in monthly installments of $175, including interest, with final payment in March 2019 1,000 3,000 Installment notes payable to bank; interest at 1.80% due in monthly installments ranging from $121 to $175, including interest, with final payment in April 2019 2,000 7,000 Installment note payable to bank; interest at 4.98% due in monthly installments of $2,847, including interest, with final payment in December 2019 33,000 65,000 Installment note payable to bank; interest at 5.25% due in quarterly installments of $8,102, including interest, with final payment in December 2019 31,000 61,000 Installment note payable to bank; interest at 4.87% due in quarterly installments of $11,897, including interest, with final payment in January 2020 57,000 101,000 Installment note payable to bank, interest at 5.25% due in monthly installments of $679, including interest, with final payment in June 2020 12,000 19,000 Installment note payable to bank; interest at 5.56% due in monthly installments of $2,925, including interest, with final payment in June 2020 50,000 82,000 Installment note payable to bank; interest at 4.87% due in monthly installments of $1,902, including interest, with final payment in July 2020 13,000 21,000 Installment note payable to bank; interest at 6.275% due in quarterly installments of $722, including interest, with final payment in September 2020 5,000 8,000 Installment note payable to bank; interest at 5.75% due in monthly installments of $857, including interest, with final payment in November 2020 19,000 27,000 Installment note payable to bank; interest at 5.31% due in quarterly installments of $4,618, including interest, with final payment in January 2021 39,000 55,000 Installment note payable to bank; interest at 4.7% due in monthly installments of $1,360, including interest, with final payment in February 2021 34,000 48,000 $ 304,000 $ 602,000
Schedule of future aggregate payments of notes payable	Years Ended December 31, Amount 2019 213,000 2020 84,000 2021 7,000 $ 304,000

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2018
Table Text Block Supplement [Abstract]
Schedule of non-cash investing and financing activities	Years Ended December 31, 2018 2017 Debt assumed in connection with purchase of technology equipment $ - $ 574,000

Reconciliation of Amounts Rep_2

Reconciliation of Amounts Reported For Financial Reporting Purposes To Amounts On The Federal Partnership Return (unaudited): Schedule of The tax bases of the Partnership's net assets and liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Table Text Block Supplement [Abstract]
Tax Basis of the Partnership's Net Assets and Liabilities	Years Ended December 31, 2018 2017 Financial statement basis of net assets $ (13,179 ) $ (70,280 ) Tax basis of net assets (unaudited) 231,618 29,062 Difference (unaudited) $ 244,797 $ 99,342
Schedule of Effective Income Tax Reconciliation	Years Ended December 31, 2018 2017 Net income for financial reporting purposes to taxable loss $ 57,101 $ 20,969 Gain (Loss) on sale of equipment 2,734 (3,189 ) Depreciation 150,837 (230,333 ) Unearned lease income (29,777 ) 21,693 Penalties 1,168 1,579 Other 21,866 41,608 Taxable income (loss) on the Federal Partnership return (unaudited) $ 203,929 $ (147,673 )

Business (Details)

Business (Details)	12 Months Ended
	Dec. 31, 2018
Text Block [Abstract]
Entity Incorporation, State Country Name	Commonwealth of Pennsylvania

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Text Block [Abstract]
Total bank balance	$ 21,000	$ 14,000
FDIC Insured	(21,000)	(14,000)
Uninsured Amount	$ 0	$ 0

Information Technology, Medic_3

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details)	Dec. 31, 2018USD ($)
Text Block [Abstract]
Year Ended December 31, 2019	$ 275,000
Year Ended December 31, 2020	89,000
Year Ended December 31, 2021	7,000
Total	$ 371,000

Information Technology, Medic_4

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 1) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Text Block [Abstract]
Total minimum lease payments to be received	$ 15,000	$ 42,000
Estimated residual value of leased equipment (unguaranteed)	7,000	16,000
Less: unearned income	(1,000)	(3,000)
Net investment in finance leases	$ 21,000	$ 55,000

Information Technology, Medic_5

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 2)	Dec. 31, 2018	Dec. 31, 2017
Text Block [Abstract]
Low	0.00%	0.00%
Moderate-Low	0.00%	0.00%
Moderate	0.00%	0.00%
Moderate-High	100.00%	100.00%
High	0.00%	0.00%
Net finance lease receivable	100.00%	100.00%

Information Technology, Medic_6

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 3)	Dec. 31, 2018USD ($)
Text Block [Abstract]
Year Ended December 31, 2019	$ 9,000
Year Ended December 31, 2020	6,000
Total	$ 15,000

Information Technology, Medic_7

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details Narrative) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Text Block [Abstract]
Equipment Shared	$ 3,567,000	$ 3,569,000
Total Shared Equipment	12,260,000	12,263,000
Debt Shared	218,000	421,000
Outstanding Debt Total	$ 1,696,000	$ 3,035,000

Significant Customers (Details)

Significant Customers (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cummins, Inc.
Percent Lease Revenue	40.00%	40.00%
Alliant Techsystems
Percent Lease Revenue	21.00%	22.00%
Automatic Data Processing
Percent Lease Revenue	11.00%	11.00%

Significant Customers (Details

Significant Customers (Details 1)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cummins, Inc.
Percent Lease Income Receivable	72.00%	64.00%
Automatic Data Processing
Percent Lease Income Receivable	11.00%	0.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Text Block [Abstract]
Reimbursable Expenses	$ 132,000	$ 355,000
Equipment Acquisition Fees	0	0
Debt placement fees	0	0
Equipment Management Fee	16,000	5,000
Equipment liquidation fee	$ 0	$ 0

Notes Payable (Details)

Notes Payable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Long-term Debt, Gross	$ 304,000	$ 602,000
Note 1
Debt Instrument, Description	Installment note payable to bank; interest at 4.23%, due in quarterly installments of $9,663, including interest, with final payment in February 2018
Long-term Debt, Gross	$ 0	10,000
Note 2
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in March 2018
Long-term Debt, Gross	$ 0	1,000
Note 3
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in April 2018
Long-term Debt, Gross	$ 0	1,000
Note 4
Debt Instrument, Description	Installment note payable to bank; interest at 4.23% due in quarterly installments of $2,797, including interest, with final payment in June 2018
Long-term Debt, Gross	$ 0	6,000
Note 5
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23% due in quarterly installments of $458, including interest, with final payment in September 2018
Long-term Debt, Gross	$ 0	2,000
Note 6
Debt Instrument, Description	Installment notes payable to bank; interest at 6.00% due in monthly installments ranging from $132 to $1,479, including interest, with final payment in September 2018
Long-term Debt, Gross	$ 0	6,000
Note 7
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $296 to $458, including interest, with final payment in October 2018
Long-term Debt, Gross	$ 0	5,000
Note 8
Debt Instrument, Description	Installment note payable to bank; interest at 4.23% due in quarterly installments of $208, including interest, with final payment in November 2018
Long-term Debt, Gross	$ 0	1,000
Note 9
Debt Instrument, Description	Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $803 to $1,216, including interest, with final payment in February 2019
Long-term Debt, Gross	$ 2,000	16,000
Note 10
Debt Instrument, Description	Installment note payable to bank; interest at 1.80% due in monthly installments of $2,116, including interest, with final payment in February 2019
Long-term Debt, Gross	$ 4,000	29,000
Note 11
Debt Instrument, Description	Installment note payable to bank; interest at 4.47% due in monthly installments of $2,208, including interest, with final payment in February 2019
Long-term Debt, Gross	$ 2,000	28,000
Note 12
Debt Instrument, Description	Installment note payable to bank; interest at 1.80% due in monthly installments of $175, including interest, with final payment in March 2019
Long-term Debt, Gross	$ 1,000	3,000
Note 13
Debt Instrument, Description	Installment notes payable to bank; interest at 1.80% due in monthly installments ranging from $121 to $175, including interest, with final payment in April 2019
Long-term Debt, Gross	$ 2,000	7,000
Note 14
Debt Instrument, Description	Installment note payable to bank; interest at 4.98% due in monthly installments of $2,847, including interest, with final payment in December 2019
Long-term Debt, Gross	$ 33,000	65,000
Note 15
Debt Instrument, Description	Installment note payable to bank; interest at 5.25% due in quarterly installments of $8,102, including interest, with final payment in December 2019
Long-term Debt, Gross	$ 31,000	61,000
Note 16
Debt Instrument, Description	Installment note payable to bank; interest at 4.87% due in quarterly installments of $11,897, including interest, with final payment in January 2020
Long-term Debt, Gross	$ 57,000	101,000
Note 17
Debt Instrument, Description	Installment note payable to bank, interest at 5.25% due in monthly installments of $679, including interest, with final payment in June 2020
Long-term Debt, Gross	$ 12,000	19,000
Note 18
Debt Instrument, Description	Installment note payable to bank; interest at 5.56% due in monthly installments of $2,925, including interest, with final payment in June 2020
Long-term Debt, Gross	$ 50,000	82,000
Note 19
Debt Instrument, Description	Installment note payable to bank; interest at 4.87% due in monthly installments of $1,902, including interest, with final payment in July 2020
Long-term Debt, Gross	$ 13,000	21,000
Note 20
Debt Instrument, Description	Installment note payable to bank; interest at 6.275% due in quarterly installments of $722, including interest, with final payment in September 2020
Long-term Debt, Gross	$ 5,000	8,000
Note 21
Debt Instrument, Description	Installment note payable to bank; interest at 5.75% due in monthly installments of $857, including interest, with final payment in November 2020
Long-term Debt, Gross	$ 19,000	27,000
Note 22
Debt Instrument, Description	Installment note payable to bank; interest at 5.31% due in quarterly installments of $4,618, including interest, with final payment in January 2021
Long-term Debt, Gross	$ 39,000	55,000
Note 23
Debt Instrument, Description	Installment note payable to bank; interest at 4.7% due in monthly installments of $1,360, including interest, with final payment in February 2021
Long-term Debt, Gross	$ 34,000	$ 48,000

Notes Payable (Details 1)

Notes Payable (Details 1)	Dec. 31, 2018USD ($)
Text Block [Abstract]
Year ended December 31, 2019	$ 213,000
Year ended December 31, 2020	84,000
Year ended December 31, 2021	7,000
Long-term Debt	$ 304,000

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Text Block [Abstract]
Debt assumed in connection with purchase of technology equipment	$ 0	$ 574,000

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Text Block [Abstract]
Fully Amortized Fees Written Off	$ 529,000	$ 88,000

Reconciliation of Amounts Rep_3

Reconciliation of Amounts Reported For Financial Reporting Purposes To Amounts On The Federal Partnership Return (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Text Block [Abstract]
Financial statement basis of net assets	$ (13,179)	$ (70,280)	$ (88,923)
Tax basis of net assets (unaudited)	231,618	29,062
Difference (unaudited)	$ 244,797	$ 99,342

Reconciliation of Amounts Rep_4

Reconciliation of Amounts Reported For Financial Reporting Purposes To Amounts On The Federal Partnership Return (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Text Block [Abstract]
Net income for financial reporting purposes to taxable loss	$ 57,101	$ 20,969
Adjustments (unaudited)
Gain (Loss) on sale of equipment	2,734	(3,189)
Depreciation	150,837	(230,333)
Unearned Lease Income	(29,777)	21,693
Penalties	1,168	1,579
Other	21,866	41,608
Taxable income on the Federal Partnership return (unaudited)	$ 203,929	$ (147,673)