Boston Capital Tax Credit Fund Iv 10-K 2018 FY Annual report

Exhibit 13

BOSTON CAPITAL TAX CREDIT FUND IV L.P.

FINANCIAL STATEMENTS AND

REPORT OF INDEPENDENT REGISTERED

PUBLIC ACCOUNTING FIRM

MARCH 31, 2018 AND 2017

Boston Capital Tax Credit Fund IV L.P. -

Series 20 through Series 46

TABLE OF CONTENTS

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

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

Report of Independent Registered Public Accounting Firm

To the Partners

Boston Capital Tax Credit Fund IV L.P.

Opinion on the Financial Statements

We have audited the accompanying balance sheets of Boston Capital Tax Credit Fund IV L.P. (the “Partnership”), as of March 31, 2018 and 2017, and the related statements of operations, changes in partners’ capital (deficit) and cash flows for each of the years in the two-year period ended March 31, 2018, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Partnership as of March 31, 2018 and 2017, and the results of its operations and its cash flows for each of the years in the two-year period ended March 31, 2018 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Partnership’s management. Our responsibility is to express an opinion on the Partnership’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Partnership in accordance with the U.S. federal security laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Partnership is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Partnership’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits of the financial statements provide a reasonable basis for our opinion.

/s/ CohnReznick LLP

COHNREZNICK LLP

We have served as the Partnership’s auditor since 1994.

Bethesda, Maryland

June 22, 2018

F-3

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS

March 31, 2018 and 2017

	Total
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		27,208,717			27,209,997
Notes receivable		-			22,790
Other assets		40,088			164,773
	$	27,248,805		$	27,397,560
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	654,673		$	697,432
Accounts payable - affiliates		29,495,273			39,637,826
Capital contributions payable		176,746			578,113
		30,326,692			40,913,371
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 83,651,080 issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 83,651,080 issued and 83,175,478 and 83,310,666 outstanding at March 31, 2018 and 2017, respectively.		2,931,035			(6,338,126	)
General partner		(6,008,922	)		(7,177,685	)
		(3,077,887	)		(13,515,811	)
	$	27,248,805		$	27,397,560

(continued)

F-4

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 20
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		241,987			271,060
Notes receivable		-			-
Other assets		-			-
	$	241,987		$	271,060
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		1,444,723			1,466,902
Capital contributions payable		-			-
		1,444,723			1,466,902
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,866,700  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,866,700 issued and 3,829,200 and 3,833,200 outstanding at March 31, 2018 and 2017, respectively.		(882,456	)		(875,631	)
General partner		(320,280	)		(320,211	)
		(1,202,736	)		(1,195,842	)
	$	241,987		$	271,060

(continued)

F-5

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 21
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		-			241,102
Notes receivable		-			-
Other assets		-			-
	$	-		$	241,102
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			1,321,237
Capital contributions payable		-			-
		-			1,321,237
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 1,892,700  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 1,892,700 issued and 1,879,500 and 1,879,500 outstanding at March 31, 2018 and 2017, respectively.		(898,231	)		(907,383	)
General partner		898,231			(172,752	)
		-			(1,080,135	)
	$	-		$	241,102

(continued)

F-6

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 22
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		221,864			252,064
Notes receivable		-			-
Other assets		-			-
	$	221,864		$	252,064
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		2,878,109			2,848,897
Capital contributions payable		-			-
		2,878,109			2,848,897
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,564,400  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,564,400 issued and 2,550,645 and 2,557,045 outstanding at March 31, 2018 and 2017, respectively.		(2,410,599	)		(2,351,781	)
General partner		(245,646	)		(245,052	)
		(2,656,245	)		(2,596,833	)
	$	221,864		$	252,064

(continued)

F-7

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 23
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		446,136			659,167
Notes receivable		-			-
Other assets		-			-
	$	446,136		$	659,167
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		933,387			2,089,674
Capital contributions payable		-			-
		933,387			2,089,674
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,336,727  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,336,727 issued and 3,303,327 and 3,314,827 outstanding at March 31, 2018 and 2017, respectively.		(197,532	)		(1,131,355	)
General partner		(289,719	)		(299,152	)
		(487,251	)		(1,430,507	)
	$	446,136		$	659,167

(continued)

F-8

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 24
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		453,512			427,181
Notes receivable		-			-
Other assets		-			-
	$	453,512		$	427,181
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	5,000		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		5,000			-
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,169,878  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,169,878 issued and 2,152,753 and 2,154,253 outstanding at March 31, 2018 and 2017, respectively.		623,279			602,161
General partner		(174,767	)		(174,980	)
		448,512			427,181
	$	453,512		$	427,181

(continued)

F-9

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 25
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		-			344,461
Notes receivable		-			-
Other assets		-			1,250
	$	-		$	345,711
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		-			-
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,026,109  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,026,109 issued and 3,016,809 and 3,016,809 outstanding at March 31, 2018 and 2017, respectively.		219,815			565,870
General partner		(219,815	)		(220,159	)
		-			345,711
	$	-		$	345,711

(continued)

F-10

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 26
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		642,258			677,679
Notes receivable		-			-
Other assets		-			-
	$	642,258		$	677,679
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		-			-
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,995,900  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,995,900 issued and 3,965,400 and 3,977,000 outstanding at March 31, 2018 and 2017, respectively.		954,178			989,245
General partner		(311,920	)		(311,566	)
		642,258			677,679
	$	642,258		$	677,679

(continued)

F-11

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 27
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		6,799,933			3,606,473
Notes receivable		-			-
Other assets		-			-
	$	6,799,933		$	3,606,473
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	31,673
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		-			31,673
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,460,700  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,460,700 issued and 2,443,900 and 2,446,400 outstanding at March 31, 2018 and 2017, respectively.		6,938,381			3,745,499
General partner		(138,448	)		(170,699	)
		6,799,933			3,574,800
	$	6,799,933		$	3,606,473

(continued)

F-12

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 28
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		742,564			812,483
Notes receivable		-			-
Other assets		-			-
	$	742,564		$	812,483
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		-			-
		-			-
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,000,738  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,000,738 issued and 3,984,138 and 3,990,738 outstanding at March 31, 2018 and 2017, respectively.		1,016,975			1,086,195
General partner		(274,411	)		(273,712	)
		742,564			812,483
	$	742,564		$	812,483

(continued)

F-13

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 29
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		622,414			345,648
Notes receivable		-			-
Other assets		-			-
	$	622,414		$	345,648
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		3,559,561			3,479,192
Capital contributions payable		885			8,235
		3,560,446			3,487,427
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,991,800  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,991,800 issued and 3,955,225 and 3,965,300 outstanding at March 31, 2018 and 2017, respectively.		(2,570,004	)		(2,771,714	)
General partner		(368,028	)		(370,065	)
		(2,938,032	)		(3,141,779	)
	$	622,414		$	345,648

(continued)

F-14

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 30
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		453,433			270,126
Notes receivable		-			-
Other assets		-			-
	$	453,433		$	270,126
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	3,500		$	-
Accounts payable - affiliates		1,620,957			1,641,976
Capital contributions payable		65,176			105,139
		1,689,633			1,747,115
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,651,000  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,651,000 issued and 2,621,200 and 2,631,000 outstanding at March 31, 2018 and 2017, respectively.		(996,782	)		(1,235,163	)
General partner		(239,418	)		(241,826	)
		(1,236,200	)		(1,476,989	)
	$	453,433		$	270,126

(continued)

F-15

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 31
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		1,971,680			2,047,648
Notes receivable		-			-
Other assets		25,000			25,000
	$	1,996,680		$	2,072,648
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		66,294			66,294
		66,294			66,294
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,417,857  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,417,857  issued and 4,382,757 and 4,395,557 outstanding at March 31, 2018 and 2017, respectively.		2,290,341			2,365,549
General partner		(359,955	)		(359,195	)
		1,930,386			2,006,354
	$	1,996,680		$	2,072,648

(continued)

F-16

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 32
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		563,697			837,185
Notes receivable		-			-
Other assets		-			-
	$	563,697		$	837,185
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	2,000
Accounts payable - affiliates		924,936			2,772,531
Capital contributions payable		1,229			1,229
		926,165			2,775,760
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,754,198  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,754,198 issued and 4,736,198 and 4,740,198 outstanding at March 31, 2018 and 2017, respectively.		47,520			(1,512,826	)
General partner		(409,988	)		(425,749	)
		(362,468	)		(1,938,575	)
	$	563,697		$	837,185

(continued)

F-17

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 33
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		452,033			337,765
Notes receivable		-			-
Other assets		-			-
	$	452,033		$	337,765
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		1,252,955			1,190,828
Capital contributions payable		-			69,154
		1,252,955			1,259,982
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,636,533  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,636,533 issued and 2,626,533 and 2,626,533 outstanding at March 31, 2018 and 2017, respectively.		(567,133	)		(687,215	)
General partner		(233,789	)		(235,002	)
		(800,922	)		(922,217	)
	$	452,033		$	337,765

(continued)

F-18

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 34
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		394,837			849,078
Notes receivable		-			-
Other assets		-			-
	$	394,837		$	849,078
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		2,840,368			3,221,597
Capital contributions payable		-			-
		2,840,368			3,221,597
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,529,319  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,529,319 issued and 3,509,919 and 3,517,419 outstanding at March 31, 2018 and 2017, respectively.		(2,120,686	)		(2,048,404	)
General partner		(324,845	)		(324,115	)
		(2,445,531	)		(2,372,519	)
	$	394,837		$	849,078

(continued)

F-19

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 35
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		4,428,306			2,392,767
Notes receivable		-			-
Other assets		-			-
	$	4,428,306		$	2,392,767
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			551,982
Capital contributions payable		-			-
		-			551,982
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,300,463  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,300,463 issued and 3,279,913 and 3,288,363 outstanding at March 31, 2018 and 2017, respectively.		4,666,048			2,104,402
General partner		(237,742	)		(263,617	)
		4,428,306			1,840,785
	$	4,428,306		$	2,392,767

(continued)

F-20

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 36
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		2,106,050			2,934,317
Notes receivable		-			-
Other assets		-			-
	$	2,106,050		$	2,934,317
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	131,000		$	131,000
Accounts payable - affiliates		-			767,505
Capital contributions payable		-			-
		131,000			898,505
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,106,838  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,106,838 issued and 2,092,704 and 2,095,704 outstanding at March 31, 2018 and 2017, respectively.		2,133,963			2,194,117
General partner		(158,913	)		(158,305	)
		1,975,050			2,035,812
	$	2,106,050		$	2,934,317

(continued)

F-21

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 37
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		517,887			2,096,039
Notes receivable		-			-
Other assets		-			-
	$	517,887		$	2,096,039
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		513,149			2,043,715
Capital contributions payable		-			138,438
		513,149			2,182,153
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,512,500  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,512,500 issued and 2,489,100 and 2,495,600 outstanding at March 31, 2018 and 2017, respectively.		220,255			130,312
General partner		(215,517	)		(216,426	)
		4,738			(86,114	)
	$	517,887		$	2,096,039

(continued)

F-22

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 38
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		1,492,145			3,042,864
Notes receivable		-			-
Other assets		-			-
	$	1,492,145		$	3,042,864
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	6,543
Accounts payable - affiliates		18,234			1,515,985
Capital contributions payable		-			-
		18,234			1,522,528
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,543,100  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,543,100 issued and 2,538,700 and 2,540,100 outstanding at March 31, 2018 and 2017, respectively.		1,677,456			1,723,417
General partner		(203,545	)		(203,081	)
		1,473,911			1,520,336
	$	1,492,145		$	3,042,864

(continued)

F-23

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 39
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		-			1,248,898
Notes receivable		-			-
Other assets		-			-
	$	-		$	1,248,898
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	6,543
Accounts payable - affiliates		-			1,154,240
Capital contributions payable		-			-
		-			1,160,783
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,292,151  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,292,151 issued and 2,288,351 and 2,288,351 outstanding at March 31, 2018 and 2017, respectively.		196,043			283,677
General partner		(196,043	)		(195,562	)
		-			88,115
	$	-		$	1,248,898

(continued)

F-24

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 40
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		431,341			248,318
Notes receivable		-			-
Other assets		-			-
	$	431,341		$	248,318
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		2,413,069			2,684,058
Capital contributions payable		102			102
		2,413,171			2,684,160
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,630,256  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,630,256 issued and 2,621,756 and 2,622,756 outstanding at March 31, 2018 and 2017, respectively.		(1,737,068	)		(2,186,540	)
General partner		(244,762	)		(249,302	)
		(1,981,830	)		(2,435,842	)
	$	431,341		$	248,318

(continued)

F-25

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 41
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		741,152			322,902
Notes receivable		-			-
Other assets		-			1,218
	$	741,152		$	324,120
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	4,500
Accounts payable - affiliates		2,893,606			3,286,255
Capital contributions payable		-			100
		2,893,606			3,290,855
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,891,626  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,891,626 issued and 2,874,926 and 2,884,126 outstanding at March 31, 2018 and 2017, respectively.		(1,881,761	)		(2,687,899	)
General partner		(270,693	)		(278,836	)
		(2,152,454	)		(2,966,735	)
	$	741,152		$	324,120

(continued)

F-26

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 42
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		1,327,017			1,072,528
Notes receivable		-			22,790
Other assets		11,300			51,003
	$	1,338,317		$	1,146,321
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		-			-
Capital contributions payable		254			73,433
		254			73,433
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,744,262  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,744,262 issued and 2,732,262 and 2,736,262 outstanding at March 31, 2018 and 2017, respectively.		1,565,620			1,303,097
General partner		(227,557	)		(230,209	)
		1,338,063			1,072,888
	$	1,338,317		$	1,146,321

(continued)

F-27

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 43
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		854,364			351,638
Notes receivable		-			-
Other assets		-			82,514
	$	854,364		$	434,152
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		915,591			771,794
Capital contributions payable		26,082			99,265
		941,673			871,059
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 3,637,987  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 3,637,987 issued and 3,629,487 and 3,632,487 outstanding at March 31, 2018 and 2017, respectively.		235,085			(111,017	)
General partner		(322,394	)		(325,890	)
		(87,309	)		(436,907	)
	$	854,364		$	434,152

(continued)

F-28

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 44
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		84,006			66,324
Notes receivable		-			-
Other assets		-			-
	$	84,006		$	66,324
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		2,830,127			2,584,641
Capital contributions payable		-			-
		2,830,127			2,584,641
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,701,973  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,701,973 issued and 2,693,973 and 2,699,473 outstanding at March 31, 2018 and 2017, respectively.		(2,481,212	)		(2,255,686	)
General partner		(264,909	)		(262,631	)
		(2,746,121	)		(2,518,317	)
	$	84,006		$	66,324

(continued)

F-29

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 45
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		753,702			803,153
Notes receivable		-			-
Other assets		-			-
	$	753,702		$	803,153
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	515,173		$	515,173
Accounts payable - affiliates		2,584,511			2,357,846
Capital contributions payable		16,724			16,724
		3,116,408			2,889,743
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 4,014,367  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 4,014,367 issued and 4,008,167 and 4,009,667 outstanding at March 31, 2018 and 2017, respectively.		(1,985,417	)		(1,712,062	)
General partner		(377,289	)		(374,528	)
		(2,362,706	)		(2,086,590	)
	$	753,702		$	803,153

(continued)

F-30

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS - CONTINUED

March 31, 2018 and 2017

	Series 46
	2018			2017
ASSETS
INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS	$	-		$	-
OTHER ASSETS
Cash and cash equivalents		466,399			651,129
Notes receivable		-			-
Other assets		3,788			3,788
	$	470,187		$	654,917
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
LIABILITIES
Accounts payable, accrued expenses and other liabilities	$	-		$	-
Accounts payable - affiliates		1,871,990			1,886,971
Capital contributions payable		-			-
		1,871,990			1,886,971
PARTNERS’ CAPITAL (DEFICIT)
Assignor limited partner
Units of limited partnership interest consisting of 101,500,000 authorized beneficial assignee certificates (BACs), $10 stated value per BAC, 2,980,998  issued to the assignees at March 31, 2018 and 2017		-			-
Limited partners
Units of beneficial interest of the limited partnership interest of the assignor limited partner, 2,980,998 issued and 2,968,635 and 2,971,998 outstanding at March 31, 2018 and 2017, respectively.		(1,125,043	)		(956,991	)
General partner		(276,760	)		(275,063	)
		(1,401,803	)		(1,232,054	)
	$	470,187		$	654,917

(see notes to financial statements)

F-31

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS

Years ended March 31, 2018 and 2017

	Total
	2018		2017
Income
Interest income	$	115,386	$	52,063
Miscellaneous		351,362		318,673
		466,748		370,736
Gain on sale of operating limited partnerships		12,575,304		18,806,644
Expenses and loss
Fund management fee		1,994,955		2,469,863
General and administrative expenses		626,460		780,422
Professional fees		633,441		823,805
		3,254,856		4,074,090
NET INCOME (LOSS)	$	9,787,196	$	15,103,290
Net income (loss) allocated to general partner	$	97,872	$	151,033
Net income (loss) allocated to limited partners	$	9,689,324	$	14,952,257
Net income (loss) per BAC	$	0.12	$	0.18

(continued)

F-32

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 20
	2018			2017
Income
Interest income	$	611		$	441
Miscellaneous		4,281			-
		4,892			441
Gain on sale of operating limited partnerships		42,000			138,000
Expenses and loss
Fund management fee		17,204			23,476
General and administrative expenses		21,644			35,102
Professional fees		14,938			14,542
		53,786			73,120
NET INCOME (LOSS)	$	(6,894	)	$	65,321
Net income (loss) allocated to general partner	$	(69	)	$	653
Net income (loss) allocated to limited partners	$	(6,825	)	$	64,668
Net income (loss) per BAC	$	-		$	0.02

(continued)

F-33

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 21
	2018		2017
Income
Interest income	$	137	$	582
Miscellaneous		859		859
		996		1,441
Gain on sale of operating limited partnerships		67,000		-
Expenses and loss
Fund management fee		5,603		8,821
General and administrative expenses		40,874		22,774
Professional fees		12,275		14,784
		58,752		46,379
NET INCOME (LOSS)	$	9,244	$	(44,938	)
Net income (loss) allocated to general partner	$	92	$	(449	)
Net income (loss) allocated to limited partners	$	9,152	$	(44,489	)
Net income (loss) per BAC	$	-	$	(0.02	)

(continued)

F-34

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 22
	2018			2017
Income
Interest income	$	623		$	376
Miscellaneous		-			-
		623			376
Gain on sale of operating limited partnerships		-			-
Expenses and loss
Fund management fee		28,112			28,108
General and administrative expenses		18,448			28,021
Professional fees		13,475			17,041
		60,035			73,170
NET INCOME (LOSS)	$	(59,412	)	$	(72,794	)
Net income (loss) allocated to general partner	$	(594	)	$	(728	)
Net income (loss) allocated to limited partners	$	(58,818	)	$	(72,066	)
Net income (loss) per BAC	$	(0.02	)	$	(0.03	)

(continued)

F-35

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 23
	2018		2017
Income
Interest income	$	3,914	$	303
Miscellaneous		7,909		-
		11,823		303
Gain on sale of operating limited partnerships		989,962		488,550
Expenses and loss
Fund management fee		20,474		32,282
General and administrative expenses		20,819		33,636
Professional fees		17,236		20,807
		58,529		86,725
NET INCOME (LOSS)	$	943,256	$	402,128
Net income (loss) allocated to general partner	$	9,433	$	4,021
Net income (loss) allocated to limited partners	$	933,823	$	398,107
Net income (loss) per BAC	$	0.28	$	0.12

(continued)

F-36

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 24
	2018		2017
Income
Interest income	$	743	$	380
Miscellaneous		3,948		6,026
		4,691		6,406
Gain on sale of operating limited partnerships		95,000		-
Expenses and loss
Fund management fee		45,683		40,285
General and administrative expenses		17,684		26,138
Professional fees		14,993		15,354
		78,360		81,777
NET INCOME (LOSS)	$	21,331	$	(75,371	)
Net income (loss) allocated to general partner	$	213	$	(754	)
Net income (loss) allocated to limited partners	$	21,118	$	(74,617	)
Net income (loss) per BAC	$	0.01	$	(0.03	)

(continued)

F-37

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 25
	2018		2017
Income
Interest income	$	143	$	331
Miscellaneous		10,178		10,178
		10,321		10,509
Gain on sale of operating limited partnerships		97,399		-
Expenses and loss
Fund management fee		9,682		16,376
General and administrative expenses		49,639		31,302
Professional fees		13,993		14,167
		73,314		61,845
NET INCOME (LOSS)	$	34,406	$	(51,336	)
Net income (loss) allocated to general partner	$	344	$	(513	)
Net income (loss) allocated to limited partners	$	34,062	$	(50,823	)
Net income (loss) per BAC	$	0.01	$	(0.02	)

(continued)

F-38

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 26
	2018			2017
Income
Interest income	$	1,464		$	1,016
Miscellaneous		526			6,176
		1,990			7,192
Gain on sale of operating limited partnerships		80,000			18,500
Expenses and loss
Fund management fee		72,467			87,735
General and administrative expenses		23,134			39,315
Professional fees		21,810			25,365
		117,411			152,415
NET INCOME (LOSS)	$	(35,421	)	$	(126,723	)
Net income (loss) allocated to general partner	$	(354	)	$	(1,267	)
Net income (loss) allocated to limited partners	$	(35,067	)	$	(125,456	)
Net income (loss) per BAC	$	(0.01	)	$	(0.03	)

(continued)

F-39

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 27
	2018		2017
Income
Interest income	$	28,709	$	9,157
Miscellaneous		32,473		6,000
		61,182		15,157
Gain on sale of operating limited partnerships		3,291,567		3,016,000
Expenses and loss
Fund management fee		30,313		99,812
General and administrative expenses		17,529		25,464
Professional fees		79,774		230,717
		127,616		355,993
NET INCOME (LOSS)	$	3,225,133	$	2,675,164
Net income (loss) allocated to general partner	$	32,251	$	26,752
Net income (loss) allocated to limited partners	$	3,192,882	$	2,648,412
Net income (loss) per BAC	$	1.31	$	1.08

(continued)

F-40

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 28
	2018			2017
Income
Interest income	$	1,605		$	1,151
Miscellaneous		446			7,976
		2,051			9,127
Gain on sale of operating limited partnerships		-			5,000
Expenses and loss
Fund management fee		33,376			21,679
General and administrative expenses		21,296			34,775
Professional fees		17,298			22,117
		71,970			78,571
NET INCOME (LOSS)	$	(69,919	)	$	(64,444	)
Net income (loss) allocated to general partner	$	(699	)	$	(644	)
Net income (loss) allocated to limited partners	$	(69,220	)	$	(63,800	)
Net income (loss) per BAC	$	(0.02	)	$	(0.02	)

(continued)

F-41

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 29
	2018		2017
Income
Interest income	$	1,017	$	749
Miscellaneous		-		-
		1,017		749
Gain on sale of operating limited partnerships		303,958		-
Expenses and loss
Fund management fee		60,982		74,532
General and administrative expenses		22,264		35,610
Professional fees		17,982		64,404
		101,228		174,546
NET INCOME (LOSS)	$	203,747	$	(173,797	)
Net income (loss) allocated to general partner	$	2,037	$	(1,738	)
Net income (loss) allocated to limited partners	$	201,710	$	(172,059	)
Net income (loss) per BAC	$	0.05	$	(0.04	)

(continued)

F-42

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 30
	2018		2017
Income
Interest income	$	1,218	$	637
Miscellaneous		1,243		1,243
		2,461		1,880
Gain on sale of operating limited partnerships		276,484		-
Expenses and loss
Fund management fee		3,527		59,468
General and administrative expenses		17,740		25,835
Professional fees		16,889		20,428
		38,156		105,731
NET INCOME (LOSS)	$	240,789	$	(103,851	)
Net income (loss) allocated to general partner	$	2,408	$	(1,039	)
Net income (loss) allocated to limited partners	$	238,381	$	(102,812	)
Net income (loss) per BAC	$	0.09	$	(0.04	)

(continued)

F-43

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 31
	2018			2017
Income
Interest income	$	7,323		$	2,782
Miscellaneous		1,116			590
		8,439			3,372
Gain on sale of operating limited partnerships		45,000			877,411
Expenses and loss
Fund management fee		80,082			121,262
General and administrative expenses		21,870			34,845
Professional fees		27,455			25,789
		129,407			181,896
NET INCOME (LOSS)	$	(75,968	)	$	698,887
Net income (loss) allocated to general partner	$	(760	)	$	6,989
Net income (loss) allocated to limited partners	$	(75,208	)	$	691,898
Net income (loss) per BAC	$	(0.02	)	$	0.16

(continued)

F-44

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 32
	2018		2017
Income
Interest income	$	3,929	$	1,309
Miscellaneous		21,375		4,300
		25,304		5,609
Gain on sale of operating limited partnerships		1,677,252		569,552
Expenses and loss
Fund management fee		79,708		144,806
General and administrative expenses		26,372		36,276
Professional fees		20,369		20,055
		126,449		201,137
NET INCOME (LOSS)	$	1,576,107	$	374,024
Net income (loss) allocated to general partner	$	15,761	$	3,740
Net income (loss) allocated to limited partners	$	1,560,346	$	370,284
Net income (loss) per BAC	$	0.33	$	0.08

(continued)

F-45

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 33
	2018		2017
Income
Interest income	$	963	$	1,400
Miscellaneous		5,329		1,800
		6,292		3,200
Gain on sale of operating limited partnerships		177,044		-
Expenses and loss
Fund management fee		30,737		56,922
General and administrative expenses		16,996		24,374
Professional fees		14,308		16,186
		62,041		97,482
NET INCOME (LOSS)	$	121,295	$	(94,282	)
Net income (loss) allocated to general partner	$	1,213	$	(943	)
Net income (loss) allocated to limited partners	$	120,082	$	(93,339	)
Net income (loss) per BAC	$	0.05	$	(0.04	)

(continued)

F-46

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 34
	2018			2017
Income
Interest income	$	1,908		$	1,445
Miscellaneous		5,526			15,442
		7,434			16,887
Gain on sale of operating limited partnerships		-			630,691
Expenses and loss
Fund management fee		43,262			41,426
General and administrative expenses		19,236			29,336
Professional fees		17,948			20,074
		80,446			90,836
NET INCOME (LOSS)	$	(73,012	)	$	556,742
Net income (loss) allocated to general partner	$	(730	)	$	5,567
Net income (loss) allocated to limited partners	$	(72,282	)	$	551,175
Net income (loss) per BAC	$	(0.02	)	$	0.16

(continued)

F-47

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 35
	2018		2017
Income
Interest income	$	14,836	$	8,322
Miscellaneous		2,818		4,893
		17,654		13,215
Gain on sale of operating limited partnerships		2,653,528		2,720,765
Expenses and loss
Fund management fee		47,409		43,447
General and administrative expenses		18,963		29,293
Professional fees		17,289		19,443
		83,661		92,183
NET INCOME (LOSS)	$	2,587,521	$	2,641,797
Net income (loss) allocated to general partner	$	25,875	$	26,418
Net income (loss) allocated to limited partners	$	2,561,646	$	2,615,379
Net income (loss) per BAC	$	0.78	$	0.80

(continued)

F-48

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 36
	2018			2017
Income
Interest income	$	8,490		$	5,514
Miscellaneous		3,968			6,425
		12,458			11,939
Gain on sale of operating limited partnerships		-			2,515,373
Expenses and loss
Fund management fee		28,594			4,670
General and administrative expenses		15,908			21,777
Professional fees		28,718			18,357
		73,220			44,804
NET INCOME (LOSS)	$	(60,762	)	$	2,482,508
Net income (loss) allocated to general partner	$	(608	)	$	24,825
Net income (loss) allocated to limited partners	$	(60,154	)	$	2,457,683
Net income (loss) per BAC	$	(0.03	)	$	1.17

(continued)

F-49

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 37
	2018		2017
Income
Interest income	$	5,243	$	3,535
Miscellaneous		16,657		4,811
		21,900		8,346
Gain on sale of operating limited partnerships		140,415		2,349,732
Expenses and loss
Fund management fee		38,125		106,790
General and administrative expenses		16,053		22,977
Professional fees		17,285		15,269
		71,463		145,036
NET INCOME (LOSS)	$	90,852	$	2,213,042
Net income (loss) allocated to general partner	$	909	$	22,130
Net income (loss) allocated to limited partners	$	89,943	$	2,190,912
Net income (loss) per BAC	$	0.04	$	0.88

(continued)

F-50

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 38
	2018			2017
Income
Interest income	$	9,561		$	1,203
Miscellaneous		42,616			85,146
		52,177			86,349
Gain on sale of operating limited partnerships		-			3,273,698
Expenses and loss
Fund management fee		62,236			103,420
General and administrative expenses		16,974			24,162
Professional fees		19,392			20,192
		98,602			147,774
NET INCOME (LOSS)	$	(46,425	)	$	3,212,273
Net income (loss) allocated to general partner	$	(464	)	$	32,123
Net income (loss) allocated to limited partners	$	(45,961	)	$	3,180,150
Net income (loss) per BAC	$	(0.02	)	$	1.25

(continued)

F-51

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 39
	2018			2017
Income
Interest income	$	870		$	663
Miscellaneous		386			1,210
		1,256			1,873
Gain on sale of operating limited partnerships		17,779			1,645,989
Expenses and loss
Fund management fee		5,130			52,601
General and administrative expenses		42,679			21,423
Professional fees		19,295			19,307
		67,104			93,331
NET INCOME (LOSS)	$	(48,069	)	$	1,554,531
Net income (loss) allocated to general partner	$	(481	)	$	15,545
Net income (loss) allocated to limited partners	$	(47,588	)	$	1,538,986
Net income (loss) per BAC	$	(0.02	)	$	0.67

(continued)

F-52

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 40
	2018		2017
Income
Interest income	$	1,393	$	315
Miscellaneous		5,922		-
		7,315		315
Gain on sale of operating limited partnerships		588,952		93,700
Expenses and loss
Fund management fee		100,188		126,039
General and administrative expenses		17,352		23,982
Professional fees		24,715		23,123
		142,255		173,144
NET INCOME (LOSS)	$	454,012	$	(79,129	)
Net income (loss) allocated to general partner	$	4,540	$	(791	)
Net income (loss) allocated to limited partners	$	449,472	$	(78,338	)
Net income (loss) per BAC	$	0.17	$	(0.03	)

(continued)

F-53

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 41
	2018		2017
Income
Interest income	$	2,248	$	651
Miscellaneous		13,908		42,406
		16,156		43,057
Gain on sale of operating limited partnerships		1,026,859		70,500
Expenses and loss
Fund management fee		184,017		196,640
General and administrative expenses		20,998		27,796
Professional fees		23,719		26,340
		228,734		250,776
NET INCOME (LOSS)	$	814,281	$	(137,219	)
Net income (loss) allocated to general partner	$	8,143	$	(1,372	)
Net income (loss) allocated to limited partners	$	806,138	$	(135,847	)
Net income (loss) per BAC	$	0.28	$	(0.05	)

(continued)

F-54

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 42
	2018		2017
Income
Interest income	$	7,705	$	4,004
Miscellaneous		15,960		4,406
		23,665		8,410
Gain on sale of operating limited partnerships		427,305		-
Expenses and loss
Fund management fee		135,503		152,300
General and administrative expenses		18,799		26,109
Professional fees		31,493		29,190
		185,795		207,599
NET INCOME (LOSS)	$	265,175	$	(199,189	)
Net income (loss) allocated to general partner	$	2,652	$	(1,992	)
Net income (loss) allocated to limited partners	$	262,523	$	(197,197	)
Net income (loss) per BAC	$	0.10	$	(0.07	)

(continued)

F-55

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 43
	2018		2017
Income
Interest income	$	6,220	$	4,077
Miscellaneous		46,345		1,759
		52,565		5,836
Gain on sale of operating limited partnerships		566,806		-
Expenses and loss
Fund management fee		194,502		190,024
General and administrative expenses		40,459		31,565
Professional fees		34,812		30,278
		269,773		251,867
NET INCOME (LOSS)	$	349,598	$	(246,031	)
Net income (loss) allocated to general partner	$	3,496	$	(2,460	)
Net income (loss) allocated to limited partners	$	346,102	$	(243,571	)
Net income (loss) per BAC	$	0.10	$	(0.07	)

(continued)

F-56

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 44
	2018			2017
Income
Interest income	$	158		$	36
Miscellaneous		18,760			16,818
		18,918			16,854
Gain on sale of operating limited partnerships		-			-
Expenses and loss
Fund management fee		203,181			206,172
General and administrative expenses		18,000			25,049
Professional fees		25,541			17,150
		246,722			248,371
NET INCOME (LOSS)	$	(227,804	)	$	(231,517	)
Net income (loss) allocated to general partner	$	(2,278	)	$	(2,315	)
Net income (loss) allocated to limited partners	$	(225,526	)	$	(229,202	)
Net income (loss) per BAC	$	(0.08	)	$	(0.09	)

(continued)

F-57

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 45
	2018			2017
Income
Interest income	$	2,590		$	1,204
Miscellaneous		47,297			53,785
		49,887			54,989
Gain on sale of operating limited partnerships		-			-
Expenses and loss
Fund management fee		252,328			223,161
General and administrative expenses		24,850			35,365
Professional fees		48,825			40,737
		326,003			299,263
NET INCOME (LOSS)	$	(276,116	)	$	(244,274	)
Net income (loss) allocated to general partner	$	(2,761	)	$	(2,443	)
Net income (loss) allocated to limited partners	$	(273,355	)	$	(241,831	)
Net income (loss) per BAC	$	(0.07	)	$	(0.06	)

(continued)

F-58

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF OPERATIONS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 46
	2018			2017
Income
Interest income	$	1,765		$	480
Miscellaneous		41,516			36,424
		43,281			36,904
Gain on sale of operating limited partnerships		10,994			393,183
Expenses and loss
Fund management fee		182,530			207,609
General and administrative expenses		19,880			28,121
Professional fees		21,614			22,589
		224,024			258,319
NET INCOME (LOSS)	$	(169,749	)	$	171,768
Net income (loss) allocated to general partner	$	(1,697	)	$	1,718
Net income (loss) allocated to limited partners	$	(168,052	)	$	170,050
Net income (loss) per BAC	$	(0.06	)	$	0.06

(see notes to financial statements)

F-59

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (DEFICIT)

Years ended March 31, 2018 and 2017

Total	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(21,290,383	)	$	(7,328,718	)	$	(28,619,101	)
Net income (loss)		14,952,257			151,033			15,103,290
Partners’ capital (deficit), March 31, 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)		9,689,324			97,872			9,787,196
Partners’ capital (deficit), March 31, 2018	$	2,931,035		$	(6,008,922	)	$	(3,077,887	)

Series 20	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(940,299	)	$	(320,864	)	$	(1,261,163	)
Net income (loss)		64,668			653			65,321
Partners’ capital (deficit), March 31, 2017		(875,631	)		(320,211	)		(1,195,842	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(6,825	)		(69	)		(6,894	)
Partners’ capital (deficit), March 31, 2018	$	(882,456	)	$	(320,280	)	$	(1,202,736	)

Series 21	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(862,894	)	$	(172,303	)	$	(1,035,197	)
Net income (loss)		(44,489	)		(449	)		(44,938	)
Partners’ capital (deficit), March 31, 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), March 31, 2018	$	(898,231	)	$	898,231		$	-

Series 22	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,279,715	)	$	(244,324	)	$	(2,524,039	)
Net income (loss)		(72,066	)		(728	)		(72,794	)
Partners’ capital (deficit), March 31, 2017		(2,351,781	)		(245,052	)		(2,596,833	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(58,818	)		(594	)		(59,412	)
Partners’ capital (deficit), March 31, 2018	$	(2,410,599	)	$	(245,646	)	$	(2,656,245	)

(continued)

F-60

Boston Capital Tax Credit Fund IV L.P.

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

Years ended March 31, 2018 and 2017

Series 23	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,529,462	)	$	(303,173	)	$	(1,832,635	)
Net income (loss)		398,107			4,021			402,128
Partners’ capital (deficit), March 31, 2017		(1,131,355	)		(299,152	)		(1,430,507	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		933,823			9,433			943,256
Partners’ capital (deficit), March 31, 2018	$	(197,532	)	$	(289,719	)	$	(487,251	)

Series 24	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	676,778		$	(174,226	)	$	502,552
Net income (loss)		(74,617	)		(754	)		(75,371	)
Partners’ capital (deficit), March 31, 2017		602,161			(174,980	)		427,181
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		21,118			213			21,331
Partners’ capital (deficit), March 31, 2018	$	623,279		$	(174,767	)	$	448,512

Series 25	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	616,693		$	(219,646	)	$	397,047
Net income (loss)		(50,823	)		(513	)		(51,336	)
Partners’ capital (deficit), March 31, 2017		565,870			(220,159	)		345,711
Contributions		-			-			-
Distributions		(380,117	)		-			(380,117	)
Net income (loss)		34,062			344			34,406
Partners’ capital (deficit), March 31, 2018	$	219,815		$	(219,815	)	$	-

Series 26	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	1,114,701		$	(310,299	)	$	804,402
Net income (loss)		(125,456	)		(1,267	)		(126,723	)
Partners’ capital (deficit), March 31, 2017		989,245			(311,566	)		677,679
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(35,067	)		(354	)		(35,421	)
Partners’ capital (deficit), March 31, 2018	$	954,178		$	(311,920	)	$	642,258

(continued)

F-61

Boston Capital Tax Credit Fund IV L.P.

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

Years ended March 31, 2018 and 2017

Series 27	Limited partners		General partner			Total
Partners’ capital (deficit), March 31, 2016	$	1,097,087	$	(197,451	)	$	899,636
Net income (loss)		2,648,412		26,752			2,675,164
Partners’ capital (deficit), March 31, 2017		3,745,499		(170,699	)		3,574,800
Contributions		-		-			-
Distributions		-		-			-
Net income (loss)		3,192,882		32,251			3,225,133
Partners’ capital (deficit), March 31, 2018	$	6,938,381	$	(138,448	)	$	6,799,933

Series 28	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	1,149,995		$	(273,068	)	$	876,927
Net income (loss)		(63,800	)		(644	)		(64,444	)
Partners’ capital (deficit), March 31, 2017		1,086,195			(273,712	)		812,483
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(69,220	)		(699	)		(69,919	)
Partners’ capital (deficit), March 31, 2018	$	1,016,975		$	(274,411	)	$	742,564

Series 29	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,599,655	)	$	(368,327	)	$	(2,967,982	)
Net income (loss)		(172,059	)		(1,738	)		(173,797	)
Partners’ capital (deficit), March 31, 2017		(2,771,714	)		(370,065	)		(3,141,779	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		201,710			2,037			203,747
Partners’ capital (deficit), March 31, 2018	$	(2,570,004	)	$	(368,028	)	$	(2,938,032	)

Series 30	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,132,351	)	$	(240,787	)	$	(1,373,138	)
Net income (loss)		(102,812	)		(1,039	)		(103,851	)
Partners’ capital (deficit), March 31, 2017		(1,235,163	)		(241,826	)		(1,476,989	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		238,381			2,408			240,789
Partners’ capital (deficit), March 31, 2018	$	(996,782	)	$	(239,418	)	$	(1,236,200	)

(continued)

F-62

Boston Capital Tax Credit Fund IV L.P.

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

Years ended March 31, 2018 and 2017

Series 31	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	1,673,651		$	(366,184	)	$	1,307,467
Net income (loss)		691,898			6,989			698,887
Partners’ capital (deficit), March 31, 2017		2,365,549			(359,195	)		2,006,354
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(75,208	)		(760	)		(75,968	)
Partners’ capital (deficit), March 31, 2018	$	2,290,341		$	(359,955	)	$	1,930,386

Series 32	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,883,110	)	$	(429,489	)	$	(2,312,599	)
Net income (loss)		370,284			3,740			374,024
Partners’ capital (deficit), March 31, 2017		(1,512,826	)		(425,749	)		(1,938,575	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		1,560,346			15,761			1,576,107
Partners’ capital (deficit), March 31, 2018	$	47,520		$	(409,988	)	$	(362,468	)

Series 33	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(593,876	)	$	(234,059	)	$	(827,935	)
Net income (loss)		(93,339	)		(943	)		(94,282	)
Partners’ capital (deficit), March 31, 2017		(687,215	)		(235,002	)		(922,217	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		120,082			1,213			121,295
Partners’ capital (deficit), March 31, 2018	$	(567,133	)	$	(233,789	)	$	(800,922	)

Series 34	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,599,579	)	$	(329,682	)	$	(2,929,261	)
Net income (loss)		551,175			5,567			556,742
Partners’ capital (deficit), March 31, 2017		(2,048,404	)		(324,115	)		(2,372,519	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(72,282	)		(730	)		(73,012	)
Partners’ capital (deficit), March 31, 2018	$	(2,120,686	)	$	(324,845	)	$	(2,445,531	)

(continued)

F-63

Boston Capital Tax Credit Fund IV L.P.

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

Years ended March 31, 2018 and 2017

Series 35	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(510,977	)	$	(290,035	)	$	(801,012	)
Net income (loss)		2,615,379			26,418			2,641,797
Partners’ capital (deficit), March 31, 2017		2,104,402			(263,617	)		1,840,785
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		2,561,646			25,875			2,587,521
Partners’ capital (deficit), March 31, 2018	$	4,666,048		$	(237,742	)	$	4,428,306

Series 36	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(263,566	)	$	(183,130	)	$	(446,696	)
Net income (loss)		2,457,683			24,825			2,482,508
Partners’ capital (deficit), March 31, 2017		2,194,117			(158,305	)		2,035,812
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(60,154	)		(608	)		(60,762	)
Partners’ capital (deficit), March 31, 2018	$	2,133,963		$	(158,913	)	$	1,975,050

Series 37	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,060,600	)	$	(238,556	)	$	(2,299,156	)
Net income (loss)		2,190,912			22,130			2,213,042
Partners’ capital (deficit), March 31, 2017		130,312			(216,426	)		(86,114	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		89,943			909			90,852
Partners’ capital (deficit), March 31, 2018	$	220,255		$	(215,517	)	$	4,738

Series 38	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,456,733	)	$	(235,204	)	$	(1,691,937	)
Net income (loss)		3,180,150			32,123			3,212,273
Partners’ capital (deficit), March 31, 2017		1,723,417			(203,081	)		1,520,336
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(45,961	)		(464	)		(46,425	)
Partners’ capital (deficit), March 31, 2018	$	1,677,456		$	(203,545	)	$	1,473,911

(continued)

F-64

Boston Capital Tax Credit Fund IV L.P.

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

Years ended March 31, 2018 and 2017

Series 39	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,255,309	)	$	(211,107	)	$	(1,466,416	)
Net income (loss)		1,538,986			15,545			1,554,531
Partners’ capital (deficit), March 31, 2017		283,677			(195,562	)		88,115
Contributions		-			-			-
Distributions		(40,046	)		-			(40,046	)
Net income (loss)		(47,588	)		(481	)		(48,069	)
Partners’ capital (deficit), March 31, 2018	$	196,043		$	(196,043	)	$	-

Series 40	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,108,202	)	$	(248,511	)	$	(2,356,713	)
Net income (loss)		(78,338	)		(791	)		(79,129	)
Partners’ capital (deficit), March 31, 2017		(2,186,540	)		(249,302	)		(2,435,842	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		449,472			4,540			454,012
Partners’ capital (deficit), March 31, 2018	$	(1,737,068	)	$	(244,762	)	$	(1,981,830	)

Series 41	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,552,052	)	$	(277,464	)	$	(2,829,516	)
Net income (loss)		(135,847	)		(1,372	)		(137,219	)
Partners’ capital (deficit), March 31, 2017		(2,687,899	)		(278,836	)		(2,966,735	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		806,138			8,143			814,281
Partners’ capital (deficit), March 31, 2018	$	(1,881,761	)	$	(270,693	)	$	(2,152,454	)

Series 42	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	1,500,294		$	(228,217	)	$	1,272,077
Net income (loss)		(197,197	)		(1,992	)		(199,189	)
Partners’ capital (deficit), March 31, 2017		1,303,097			(230,209	)		1,072,888
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		262,523			2,652			265,175
Partners’ capital (deficit), March 31, 2018	$	1,565,620		$	(227,557	)	$	1,338,063

(continued)

F-65

Boston Capital Tax Credit Fund IV L.P.

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

Years ended March 31, 2018 and 2017

Series 43	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	132,554		$	(323,430	)	$	(190,876	)
Net income (loss)		(243,571	)		(2,460	)		(246,031	)
Partners’ capital (deficit), March 31, 2017		(111,017	)		(325,890	)		(436,907	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		346,102			3,496			349,598
Partners’ capital (deficit), March 31, 2018	$	235,085		$	(322,394	)	$	(87,309	)

Series 44	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(2,026,484	)	$	(260,316	)	$	(2,286,800	)
Net income (loss)		(229,202	)		(2,315	)		(231,517	)
Partners’ capital (deficit), March 31, 2017		(2,255,686	)		(262,631	)		(2,518,317	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(225,526	)		(2,278	)		(227,804	)
Partners’ capital (deficit), March 31, 2018	$	(2,481,212	)	$	(264,909	)	$	(2,746,121	)

Series 45	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,470,231	)	$	(372,085	)	$	(1,842,316	)
Net income (loss)		(241,831	)		(2,443	)		(244,274	)
Partners’ capital (deficit), March 31, 2017		(1,712,062	)		(374,528	)		(2,086,590	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(273,355	)		(2,761	)		(276,116	)
Partners’ capital (deficit), March 31, 2018	$	(1,985,417	)	$	(377,289	)	$	(2,362,706	)

Series 46	Limited partners			General partner			Total
Partners’ capital (deficit), March 31, 2016	$	(1,127,041	)	$	(276,781	)	$	(1,403,822	)
Net income (loss)		170,050			1,718			171,768
Partners’ capital (deficit), March 31, 2017		(956,991	)		(275,063	)		(1,232,054	)
Contributions		-			-			-
Distributions		-			-			-
Net income (loss)		(168,052	)		(1,697	)		(169,749	)
Partners’ capital (deficit), March 31, 2018	$	(1,125,043	)	$	(276,760	)	$	(1,401,803	)

(see notes to financial statements)

F-66

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Years ended March 31, 2018 and 2017

	Total
	2018			2017
Cash flows from operating activities
Net income (loss)	$	9,787,196		$	15,103,290
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(12,575,304	)		(18,806,644	)
Changes in assets and liabilities
Other assets		20,124			-
Accounts payable and accrued expenses		(42,759	)		11,626
Accounts payable - affiliates		(9,071,662	)		(9,632,988	)
Net cash provided by (used in) operating activities		(11,882,405	)		(13,324,716	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		(19,011	)		-
Proceeds from disposition of operating limited partnerships		12,320,299			18,806,644
Net cash provided by (used in) investing activities		12,301,288			18,806,644
Cash flows from financing activities
Distributions		(420,163	)		-
Net cash used in financing activities		(420,163	)		-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,280	)		5,481,928
Cash and cash equivalents, beginning		27,209,997			21,728,069
Cash and cash equivalents, ending	$	27,208,717		$	27,209,997
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	1,070,891		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	127,351		$	-

(continued)

F-67

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 20
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(6,894	)	$	65,321
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(42,000	)		(138,000	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(22,179	)		24,843
Net cash provided by (used in) operating activities		(71,073	)		(47,836	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		42,000			138,000
Net cash provided by (used in) investing activities		42,000			138,000
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(29,073	)		90,164
Cash and cash equivalents, beginning		271,060			180,896
Cash and cash equivalents, ending	$	241,987		$	271,060
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-68

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 21
	2018			2017
Cash flows from operating activities
Net income (loss)	$	9,244		$	(44,938	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(67,000	)		-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(250,346	)		(139,128	)
Net cash provided by (used in) operating activities		(308,102	)		(184,066	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		67,000			-
Net cash provided by (used in) investing activities		67,000			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(241,102	)		(184,066	)
Cash and cash equivalents, beginning		241,102			425,168
Cash and cash equivalents, ending	$	-		$	241,102
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	1,070,891		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-69

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 22
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(59,412	)	$	(72,794	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		29,212			29,208
Net cash provided by (used in) operating activities		(30,200	)		(43,586	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(30,200	)		(43,586	)
Cash and cash equivalents, beginning		252,064			295,650
Cash and cash equivalents, ending	$	221,864		$	252,064
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-70

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 23
	2018			2017
Cash flows from operating activities
Net income (loss)	$	943,256		$	402,128
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(989,962	)		(488,550	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(1,156,287	)		37,362
Net cash provided by (used in) operating activities		(1,202,993	)		(49,060	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		989,962			488,550
Net cash provided by (used in) investing activities		989,962			488,550
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(213,031	)		439,490
Cash and cash equivalents, beginning		659,167			219,677
Cash and cash equivalents, ending	$	446,136		$	659,167
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-71

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 24
	2018			2017
Cash flows from operating activities
Net income (loss)	$	21,331		$	(75,371	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(95,000	)		-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		5,000			-
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(68,669	)		(75,371	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		95,000			-
Net cash provided by (used in) investing activities		95,000			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		26,331			(75,371	)
Cash and cash equivalents, beginning		427,181			502,552
Cash and cash equivalents, ending	$	453,512		$	427,181
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-72

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 25
	2018			2017
Cash flows from operating activities
Net income (loss)	$	34,406		$	(51,336	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(97,399	)		-
Changes in assets and liabilities
Other assets		1,250			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(61,743	)		(51,336	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		97,399			-
Net cash provided by (used in) investing activities		97,399			-
Cash flows from financing activities
Distributions		(380,117	)		-
Net cash used in financing activities		(380,117	)		-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(344,461	)		(51,336	)
Cash and cash equivalents, beginning		344,461			395,797
Cash and cash equivalents, ending	$	-		$	344,461
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-73

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 26
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(35,421	)	$	(126,723	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(80,000	)		(18,500	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(4,960	)
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(115,421	)		(150,183	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		80,000			18,500
Net cash provided by (used in) investing activities		80,000			18,500
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(35,421	)		(131,683	)
Cash and cash equivalents, beginning		677,679			809,362
Cash and cash equivalents, ending	$	642,258		$	677,679
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-74

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 27
	2018			2017
Cash flows from operating activities
Net income (loss)	$	3,225,133		$	2,675,164
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(3,291,567	)		(3,016,000	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		(31,673	)		31,673
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(98,107	)		(309,163	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		3,291,567			3,016,000
Net cash provided by (used in) investing activities		3,291,567			3,016,000
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		3,193,460			2,706,837
Cash and cash equivalents, beginning		3,606,473			899,636
Cash and cash equivalents, ending	$	6,799,933		$	3,606,473
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-75

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 28
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(69,919	)	$	(64,444	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			(5,000	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(7,500	)
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(69,919	)		(76,944	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			5,000
Net cash provided by (used in) investing activities		-			5,000
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(69,919	)		(71,944	)
Cash and cash equivalents, beginning		812,483			884,427
Cash and cash equivalents, ending	$	742,564		$	812,483
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-76

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 29
	2018			2017
Cash flows from operating activities
Net income (loss)	$	203,747		$	(173,797	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(303,958	)		-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		80,369			(99,313	)
Net cash provided by (used in) operating activities		(19,842	)		(273,110	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		296,608			-
Net cash provided by (used in) investing activities		296,608			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		276,766			(273,110	)
Cash and cash equivalents, beginning		345,648			618,758
Cash and cash equivalents, ending	$	622,414		$	345,648
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-77

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 30
	2018			2017
Cash flows from operating activities
Net income (loss)	$	240,789		$	(103,851	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(276,484	)		-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		3,500			-
Accounts payable - affiliates		(21,019	)		69,684
Net cash provided by (used in) operating activities		(53,214	)		(34,167	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		236,521			-
Net cash provided by (used in) investing activities		236,521			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		183,307			(34,167	)
Cash and cash equivalents, beginning		270,126			304,293
Cash and cash equivalents, ending	$	453,433		$	270,126
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-78

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 31
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(75,968	)	$	698,887
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(45,000	)		(877,411	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(3,000	)
Accounts payable - affiliates		-			-
Net cash provided by (used in) operating activities		(120,968	)		(181,524	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		45,000			877,411
Net cash provided by (used in) investing activities		45,000			877,411
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(75,968	)		695,887
Cash and cash equivalents, beginning		2,047,648			1,351,761
Cash and cash equivalents, ending	$	1,971,680		$	2,047,648
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-79

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 32
	2018			2017
Cash flows from operating activities
Net income (loss)	$	1,576,107		$	374,024
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(1,677,252	)		(569,552	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		(2,000	)		(5,000	)
Accounts payable - affiliates		(1,847,595	)		(593,524	)
Net cash provided by (used in) operating activities		(1,950,740	)		(794,052	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		1,677,252			569,552
Net cash provided by (used in) investing activities		1,677,252			569,552
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(273,488	)		(224,500	)
Cash and cash equivalents, beginning		837,185			1,061,685
Cash and cash equivalents, ending	$	563,697		$	837,185
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-80

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 33
	2018			2017
Cash flows from operating activities
Net income (loss)	$	121,295		$	(94,282	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(177,044	)		-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		62,127			(834,408	)
Net cash provided by (used in) operating activities		6,378			(928,690	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		107,890			-
Net cash provided by (used in) investing activities		107,890			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		114,268			(928,690	)
Cash and cash equivalents, beginning		337,765			1,266,455
Cash and cash equivalents, ending	$	452,033		$	337,765
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-81

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 34
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(73,012	)	$	556,742
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			(630,691	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(381,229	)		(381,837	)
Net cash provided by (used in) operating activities		(454,241	)		(455,786	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			630,691
Net cash provided by (used in) investing activities		-			630,691
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(454,241	)		174,905
Cash and cash equivalents, beginning		849,078			674,173
Cash and cash equivalents, ending	$	394,837		$	849,078
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-82

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 35
	2018			2017
Cash flows from operating activities
Net income (loss)	$	2,587,521		$	2,641,797
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(2,653,528	)		(2,720,765	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(551,982	)		(1,942,253	)
Net cash provided by (used in) operating activities		(617,989	)		(2,021,221	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		2,653,528			2,720,765
Net cash provided by (used in) investing activities		2,653,528			2,720,765
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		2,035,539			699,544
Cash and cash equivalents, beginning		2,392,767			1,693,223
Cash and cash equivalents, ending	$	4,428,306		$	2,392,767
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-83

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 36
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(60,762	)	$	2,482,508
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			(2,515,373	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(2,500	)
Accounts payable - affiliates		(767,505	)		(525,031	)
Net cash provided by (used in) operating activities		(828,267	)		(560,396	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			2,515,373
Net cash provided by (used in) investing activities		-			2,515,373
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(828,267	)		1,954,977
Cash and cash equivalents, beginning		2,934,317			979,340
Cash and cash equivalents, ending	$	2,106,050		$	2,934,317
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-84

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 37
	2018			2017
Cash flows from operating activities
Net income (loss)	$	90,852		$	2,213,042
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(140,415	)		(2,349,732	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(1,530,566	)		(457,692	)
Net cash provided by (used in) operating activities		(1,580,129	)		(594,382	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		1,977			2,349,732
Net cash provided by (used in) investing activities		1,977			2,349,732
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,578,152	)		1,755,350
Cash and cash equivalents, beginning		2,096,039			340,689
Cash and cash equivalents, ending	$	517,887		$	2,096,039
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-85

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 38
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(46,425	)	$	3,212,273
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			(3,273,698	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		(6,543	)		1,764
Accounts payable - affiliates		(1,497,751	)		(504,647	)
Net cash provided by (used in) operating activities		(1,550,719	)		(564,308	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			3,273,698
Net cash provided by (used in) investing activities		-			3,273,698
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,550,719	)		2,709,390
Cash and cash equivalents, beginning		3,042,864			333,474
Cash and cash equivalents, ending	$	1,492,145		$	3,042,864
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-86

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 39
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(48,069	)	$	1,554,531
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(17,779	)		(1,645,989	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		(6,543	)		1,649
Accounts payable - affiliates		(1,154,240	)		(620,973	)
Net cash provided by (used in) operating activities		(1,226,631	)		(710,782	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		17,779			1,645,989
Net cash provided by (used in) investing activities		17,779			1,645,989
Cash flows from financing activities
Distributions		(40,046	)		-
Net cash used in financing activities		(40,046	)		-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,248,898	)		935,207
Cash and cash equivalents, beginning		1,248,898			313,691
Cash and cash equivalents, ending	$	-		$	1,248,898
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-87

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 40
	2018			2017
Cash flows from operating activities
Net income (loss)	$	454,012		$	(79,129	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(588,952	)		(93,700	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			(5,000	)
Accounts payable - affiliates		(270,989	)		(178,258	)
Net cash provided by (used in) operating activities		(405,929	)		(356,087	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		588,952			93,700
Net cash provided by (used in) investing activities		588,952			93,700
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		183,023			(262,387	)
Cash and cash equivalents, beginning		248,318			510,705
Cash and cash equivalents, ending	$	431,341		$	248,318
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-88

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 41
	2018			2017
Cash flows from operating activities
Net income (loss)	$	814,281		$	(137,219	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(1,026,859	)		(70,500	)
Changes in assets and liabilities
Other assets		1,218			-
Accounts payable and accrued expenses		(4,500	)		4,500
Accounts payable - affiliates		(392,649	)		124,592
Net cash provided by (used in) operating activities		(608,509	)		(78,627	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		1,026,759			70,500
Net cash provided by (used in) investing activities		1,026,759			70,500
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		418,250			(8,127	)
Cash and cash equivalents, beginning		322,902			331,029
Cash and cash equivalents, ending	$	741,152		$	322,902
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-89

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 42
	2018			2017
Cash flows from operating activities
Net income (loss)	$	265,175		$	(199,189	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(427,305	)		-
Changes in assets and liabilities
Other assets		(1,183	)		-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		-			(2,141,040	)
Net cash provided by (used in) operating activities		(163,313	)		(2,340,229	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		(9,503	)		-
Proceeds from disposition of operating limited partnerships		427,305			-
Net cash provided by (used in) investing activities		417,802			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		254,489			(2,340,229	)
Cash and cash equivalents, beginning		1,072,528			3,412,757
Cash and cash equivalents, ending	$	1,327,017		$	1,072,528
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	63,676		$	-

(continued)

F-90

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 43
	2018			2017
Cash flows from operating activities
Net income (loss)	$	349,598		$	(246,031	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(566,806	)		-
Changes in assets and liabilities
Other assets		18,839			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		143,797			(2,289,322	)
Net cash provided by (used in) operating activities		(54,572	)		(2,535,353	)
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		(9,508	)		-
Proceeds from disposition of operating limited partnerships		566,806			-
Net cash provided by (used in) investing activities		557,298			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		502,726			(2,535,353	)
Cash and cash equivalents, beginning		351,638			2,886,991
Cash and cash equivalents, ending	$	854,364		$	351,638
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	63,675		$	-

(continued)

F-91

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 44
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(227,804	)	$	(231,517	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		245,486			253,338
Net cash provided by (used in) operating activities		17,682			21,821
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		17,682			21,821
Cash and cash equivalents, beginning		66,324			44,503
Cash and cash equivalents, ending	$	84,006		$	66,324
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-92

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 45
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(276,116	)	$	(244,274	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		-			-
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		226,665			299,327
Net cash provided by (used in) operating activities		(49,451	)		55,053
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		-			-
Net cash provided by (used in) investing activities		-			-
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(49,451	)		55,053
Cash and cash equivalents, beginning		803,153			748,100
Cash and cash equivalents, ending	$	753,702		$	803,153
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(continued)

F-93

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS - CONTINUED

Years ended March 31, 2018 and 2017

	Series 46
	2018			2017
Cash flows from operating activities
Net income (loss)	$	(169,749	)	$	171,768
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Gain on sale of operating limited partnerships		(10,994	)		(393,183	)
Changes in assets and liabilities
Other assets		-			-
Accounts payable and accrued expenses		-			-
Accounts payable - affiliates		(14,981	)		236,084
Net cash provided by (used in) operating activities		(195,724	)		14,669
Cash flows from investing activities
Capital contributions paid to operating limited partnerships		-			-
Proceeds from disposition of operating limited partnerships		10,994			393,183
Net cash provided by (used in) investing activities		10,994			393,183
Cash flows from financing activities
Distributions		-			-
Net cash used in financing activities		-			-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(184,730	)		407,852
Cash and cash equivalents, beginning		651,129			243,277
Cash and cash equivalents, ending	$	466,399		$	651,129
Supplemental schedule of noncash investing and financing activities
The general partner's equity balance was increased and accounts payable affiliates were reduces as a result of forgiveness of debt with an affiliate of the general partner.	$	-		$	-
The fund has applied notes receivable and advances to its capital contribution obligation in operating limited partnerships.	$	-		$	-

(see notes to financial statements)

F-94

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS

March 31, 2018 and 2017

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

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

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

F-95

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The BACs issued and outstanding in each series as of March 31, 2018 and 2017 are as follows:

	Issued				Outstanding
	2018		2017		2018		2017
Series 20		3,866,700		3,866,700		3,829,200		3,833,200
Series 21		1,892,700		1,892,700		1,879,500		1,879,500
Series 22		2,564,400		2,564,400		2,550,645		2,557,045
Series 23		3,336,727		3,336,727		3,303,327		3,314,827
Series 24		2,169,878		2,169,878		2,152,753		2,154,253
Series 25		3,026,109		3,026,109		3,016,809		3,016,809
Series 26		3,995,900		3,995,900		3,965,400		3,977,000
Series 27		2,460,700		2,460,700		2,443,900		2,446,400
Series 28		4,000,738		4,000,738		3,984,138		3,990,738
Series 29		3,991,800		3,991,800		3,955,225		3,965,300
Series 30		2,651,000		2,651,000		2,621,200		2,631,000
Series 31		4,417,857		4,417,857		4,382,757		4,395,557
Series 32		4,754,198		4,754,198		4,736,198		4,740,198
Series 33		2,636,533		2,636,533		2,626,533		2,626,533
Series 34		3,529,319		3,529,319		3,509,919		3,517,419
Series 35		3,300,463		3,300,463		3,279,913		3,288,363
Series 36		2,106,838		2,106,838		2,092,704		2,095,704
Series 37		2,512,500		2,512,500		2,489,100		2,495,600
Series 38		2,543,100		2,543,100		2,538,700		2,540,100
Series 39		2,292,151		2,292,151		2,288,351		2,288,351
Series 40		2,630,256		2,630,256		2,621,756		2,622,756
Series 41		2,891,626		2,891,626		2,874,926		2,884,126
Series 42		2,744,262		2,744,262		2,732,262		2,736,262
Series 43		3,637,987		3,637,987		3,629,487		3,632,487
Series 44		2,701,973		2,701,973		2,693,973		2,699,473
Series 45		4,014,367		4,014,367		4,008,167		4,009,667
Series 46		2,980,998		2,980,998		2,968,635		2,971,998
		83,651,080		83,651,080		83,175,478		83,310,666

F-96

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

Investments in Operating Limited Partnerships

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

After the investment account is reduced to zero, receivables due from the operating limited partnerships are decreased by the partnership’s share of losses and, accordingly, a valuation allowance is recorded against the receivables. Accordingly, the Fund recorded a valuation allowance of $401,577 and $401,660 as of March 31, 2018 and 2017, respectively.

The Fund reviews its investment in operating limited partnerships for impairment whenever events or changes in circumstances indicate that the carrying amount of such investments may not be recoverable. Recoverability is measured by a comparison of the carrying amount of the investment to the sum of the total amount of the remaining tax credits and the estimated residual value of the investment. The Fund also evaluates its intangibles for impairment in connection with its investments in operating limited partnerships. No impairment losses have been recognized for the years ended March 31, 2018 and 2017.

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

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

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

F-97

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

Investments in Operating Limited Partnerships (Continued)

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

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

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

F-98

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

Investments in Operating Limited Partnerships (Continued)

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

F-99

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

Income Taxes

The Fund has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The funds’s federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Fund has no other tax positions which must be considered for disclosure. Income tax returns filed by the Fund are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2014 remain open.

Cash and Cash Equivalents

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

Fiscal Year

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

F-100

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

Net Loss Per Beneficial Assignee Certificate Unit

Net loss per beneficial assignee certificate unit is calculated based upon the weighted average number of units outstanding during the year or period. The weighted average number of units in each series at March 31, 2018 and 2017 are as follows:

	2018		2017
Series 20		3,832,200		3,840,925
Series 21		1,879,500		1,880,625
Series 22		2,555,445		2,559,111
Series 23		3,311,952		3,321,202
Series 24		2,153,878		2,157,722
Series 25		3,016,809		3,019,434
Series 26		3,974,100		3,981,950
Series 27		2,445,775		2,451,725
Series 28		3,989,088		3,993,363
Series 29		3,962,781		3,976,625
Series 30		2,628,550		2,634,750
Series 31		4,392,357		4,396,307
Series 32		4,739,198		4,740,573
Series 33		2,626,533		2,627,658
Series 34		3,515,544		3,521,619
Series 35		3,286,251		3,292,413
Series 36		2,094,954		2,097,579
Series 37		2,493,975		2,504,525
Series 38		2,539,750		2,540,100
Series 39		2,288,351		2,289,701
Series 40		2,622,506		2,623,506
Series 41		2,881,826		2,889,751
Series 42		2,735,262		2,736,262
Series 43		3,631,737		3,636,612
Series 44		2,698,098		2,699,848
Series 45		4,009,292		4,013,192
Series 46		2,971,157		2,971,998
		83,276,869		83,399,076

F-101

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

Use of Estimates

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

F-102

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE B - RELATED PARTY TRANSACTIONS

During the years ended March 31, 2018 and 2017, the Fund entered into several transactions with various affiliates of the general partner, including Boston Capital Partners, Inc. (BCP), Boston Capital Services, Inc. (BCS), Boston Capital Holdings Limited Partnership (BCHLP) and Boston Capital Asset Management Limited Partnership (BCAM), as follows:

The Fund incurred a fund management fee to Boston Capital Asset Management Limited Partnership in an amount equal to .5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of various asset management and reporting fees paid by the Operating Partnerships. The fund management fees net of reporting fees incurred and the reporting fees paid by the Operating Partnerships for the years ended March 31, 2018 and 2017, are as follows:

			2018
	Gross Fund Management Fee		Asset Management and Reporting Fee		Fund Management Fee net of Asset Management and Reporting Fee
Series 20	$	19,821	$	2,617	$	17,204
Series 21		7,654		2,051		5,603
Series 22		29,212		1,100		28,112
Series 23		22,224		1,750		20,474
Series 24		50,352		4,669		45,683
Series 25		11,374		1,692		9,682
Series 26		76,308		3,841		72,467
Series 27		41,073		10,760		30,313
Series 28		35,376		2,000		33,376
Series 29		80,369		19,387		60,982
Series 30		54,481		50,954		3,527
Series 31		81,582		1,500		80,082
Series 32		99,208		19,500		79,708
Series 33		63,077		32,340		30,737
Series 34		49,462		6,200		43,262
Series 35		56,268		8,859		47,409
Series 36		30,504		1,910		28,594
Series 37		46,143		8,018		38,125
Series 38		72,936		10,700		62,236
Series 39		5,130		-		5,130
Series 40		111,663		11,475		100,188
Series 41		197,680		13,663		184,017
Series 42		158,605		23,102		135,503
Series 43		219,297		24,795		194,502
Series 44		231,301		28,120		203,181
Series 45		281,324		28,996		252,328
Series 46		209,196		26,666		182,530
	$	2,341,620	$	346,665	$	1,994,955

F-103

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

			2017
	Gross Fund Management Fee		Asset Management and Reporting Fee		Fund Management Fee net of Asset Management and Reporting Fee
Series 20	$	24,843	$	1,367	$	23,476
Series 21		10,872		2,051		8,821
Series 22		29,208		1,100		28,108
Series 23		37,362		5,080		32,282
Series 24		50,352		10,067		40,285
Series 25		23,736		7,360		16,376
Series 26		93,076		5,341		87,735
Series 27		116,442		16,630		99,812
Series 28		44,679		23,000		21,679
Series 29		82,187		7,655		74,532
Series 30		69,684		10,216		59,468
Series 31		134,262		13,000		121,262
Series 32		163,266		18,460		144,806
Series 33		65,592		8,670		56,922
Series 34		70,741		29,315		41,426
Series 35		93,350		49,903		43,447
Series 36		46,580		41,910		4,670
Series 37		117,308		10,518		106,790
Series 38		130,774		27,354		103,420
Series 39		56,801		4,200		52,601
Series 40		137,464		11,425		126,039
Series 41		224,592		27,952		196,640
Series 42		171,480		19,180		152,300
Series 43		230,772		40,748		190,024
Series 44		239,076		32,904		206,172
Series 45		282,759		59,598		223,161
Series 46		236,084		28,475		207,609
	$	2,983,342	$	513,479	$	2,469,863

All fund management fees will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the partnership's interests in operating limited partnerships. As of March 31, 2018 and 2017, total fund management fees accrued were $29,275,035 and $39,156,659, respectively.

F-104

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

The fund management fees paid for the years ended March 31, 2018 and 2017, are as follows:

	2018		2017
Series 20	$	42,000	$	-
Series 21		258,000		150,000
Series 22		-		-
Series 23		1,178,511		-
Series 24		50,352		50,352
Series 25		11,374		23,736
Series 26		76,308		93,076
Series 27		41,073		116,442
Series 28		35,376		44,679
Series 29		-		181,500
Series 30		75,500		-
Series 31		81,582		134,262
Series 32		1,946,803		756,790
Series 33		950		900,000
Series 34		430,691		319,000
Series 35		608,250		2,035,603
Series 36		798,009		571,611
Series 37		1,576,709		575,000
Series 38		1,570,687		635,421
Series 39		938,915		677,774
Series 40		382,652		315,722
Series 41		590,329		100,000
Series 42		158,605		2,312,520
Series 43		75,500		2,520,094
Series 44		-		-
Series 45		-		-
Series 46		224,177		-
	$	11,152,353	$	12,513,582

F-105

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

An affiliate of the general partner of the Fund has advanced funds to pay some operating expenses of the fund, and to make advances and/or loans to operating limited partnerships. These advances are included in accounts payable to affiliates. The total advances as of March 31, 2018 and 2017, are as follows:

	2018		2017
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		-		220,455
Series 40		-		-
Series 41		-		-
Series 42		-		-
Series 43		-		-
Series 44		220,238		206,053
Series 45		-		54,659
Series 46		-		-
	$	220,238	$	481,167

During the year ended March 31, 2018, $14,185 for Series 44 was advanced to the Fund by an affiliate of the general partner. In addition $220,455 for Series 39 and $54,659 for Series 45 was paid by the Fund to an affiliate of the general partner. During the year ended March 31, 2017, $14,262 and $16,568 for Series 44 and Series 45, respectively, was advanced to the Fund by an affiliate of the general partner. In addition $133,578 for Series 34 was paid by the Fund 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.

F-106

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE B - RELATED PARTY TRANSACTIONS (Continued)

During the years ended March 31, 2018 and 2017, general and administrative expenses incurred by Boston Capital Partners, Inc., Boston Capital Holdings Limited Partnership and/or Boston Capital Asset Management Limited Partnership were charged to each series’ operations as follows:

	2018		2017
Series 20	$	15,347	$	16,622
Series 21		39,308		13,370
Series 22		13,968		14,832
Series 23		14,966		16,444
Series 24		14,181		14,350
Series 25		44,888		15,309
Series 26		16,807		18,547
Series 27		13,862		40,226
Series 28		15,689		16,420
Series 29		16,149		17,578
Series 30		14,096		14,993
Series 31		16,187		18,151
Series 32		16,115		17,965
Series 33		13,619		14,218
Series 34		14,572		15,394
Series 35		14,339		15,420
Series 36		13,109		13,183
Series 37		12,950		13,591
Series 38		13,673		14,212
Series 39		41,394		13,065
Series 40		14,322		15,081
Series 41		15,980		16,909
Series 42		15,406		16,382
Series 43		16,806		18,397
Series 44		14,185		14,621
Series 45		19,556		20,809
Series 46		15,665		16,678
	$	487,139	$	452,767

Accounts payable - affiliates at March 31, 2018 and 2017 represents general and administrative expenses, fund management fees, and commissions which are payable to Boston Capital Partners, Inc., Boston Capital Holdings Limited Partnership, Boston Capital Services, Inc., and Boston Capital Asset Management Limited Partnership.

F-107

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS

At March 31, 2018 and 2017, the fund has limited partnership interests in operating limited partnerships, which own or are constructing or rehabilitating operating apartment complexes. The number of operating limited partnerships in which the fund has limited partnership interests at March 31, 2018 and 2017 by series are as follows:

	2018		2017
Series 20		2		3
Series 21		-		2
Series 22		3		3
Series 23		3		4
Series 24		5		6
Series 25		-		4
Series 26		9		13
Series 27		3		5
Series 28		5		5
Series 29		7		8
Series 30		5		8
Series 31		8		10
Series 32		6		7
Series 33		3		5
Series 34		4		4
Series 35		2		3
Series 36		3		3
Series 37		1		2
Series 38		4		4
Series 39		-		1
Series 40		9		10
Series 41		12		17
Series 42		11		15
Series 43		17		19
Series 44		7		7
Series 45		26		27
Series 46		14		14
		169		209

F-108

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

During the year ended March 31, 2018 the Fund disposed of forty Operating Partnerships. Gain on disposition is included in share of income (losses) from operating limited partnerships. A summary of the dispositions by Series for March 31, 2018 is as follows.

	Operating Partnership Interest Transferred		Sale of Underlying Operating Partnership		Partnership 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 24		1		-		95,000		95,000
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 29		1		-		296,608		303,958
Series 30		1		2		236,521		276,484
Series 31		-		2		45,000		45,000
Series 32		1		-		1,677,252		1,677,252
Series 33		1		1		107,890		177,044
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		1		4		1,026,759		1,026,859
Series 42		1		3		427,305		427,305
Series 43		-		2		566,806		566,806
Series 45		1		-		-		-
Series 46		-		-		10,994		10,994
Total		10		30	$	12,320,299	$	12,575,304

* Partnership proceeds from disposition does not include $7,350, $39,963, $69,154, $138,438 and $100 which was due to a writeoff of capital contribution payable as of March 31, 2018, for Series 29, Series 30, Series 33, Series 37 and Series 41, respectively.

During the year ended March 31, 2017 the Fund disposed of forty nine Operating Partnerships. Gain on disposition is included in share of income (losses) from operating limited partnerships. A summary of the dispositions by Series for March 31, 2017 is as follows.

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

F-109

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

Under the terms of the Fund’s investment in each operating limited partnership, the Fund is required to make capital contributions to the operating limited partnerships. These contributions are payable in installments over several years upon each operating limited partnership achieving specified levels of construction or operations. At March 31, 2018 and 2017, contributions are payable to operating limited partnerships as follows:

	2018		2017
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		885		8,235
Series 30		65,176		105,139
Series 31		66,294		66,294
Series 32		1,229		1,229
Series 33		-		69,154
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		138,438
Series 38		-		-
Series 39		-		-
Series 40		102		102
Series 41		-		100
Series 42		254		73,433
Series 43		26,082		99,265
Series 44		-		-
Series 45		16,724		16,724
Series 46		-		-
	$	176,746	$	578,113

F-110

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Total			Series 20			Series 21
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	184,987,233		$	801,709		$	-
Acquisition costs of operating limited partnerships		6,519,915			113,727			-
Cumulative distributions from operating limited partnerships		(1,524,276	)		-			-
Cumulative impairment loss in investments in operating limited partnerships		(101,705,964	)		(337,192	)		-
Cumulative losses from operating limited partnerships		(88,276,908	)		(578,244	)		-
Investments in operating limited partnerships per balance sheet		-			-			-

F-111

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Total			Series 20			Series 21
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(752,340	)		-			-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(1,014,542	)		-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		110,689			144			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(54,135,331	)		(346,427	)		-
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		298,325			-			-
Cumulative impairment loss in investments in operating limited partnerships		101,705,964			337,192			-
Other		(1,537,638	)		(3,038	)		-
Equity per operating limited partnerships’ combined financial statements	$	44,675,127		$	(12,129	)	$	-

F-112

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 22			Series 23			Series 24
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	755,045		$	652,559		$	2,609,877
Acquisition costs of operating limited partnerships		78,016			101,606			270,834
Cumulative distributions from operating limited partnerships		-			-			(21,752	)
Cumulative impairment loss in investments in operating limited partnerships		(325,787	)		(554,366	)		(1,018,072	)
Cumulative losses from operating limited partnerships		(507,274	)		(199,799	)		(1,840,887	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-113

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 22			Series 23			Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-			-			(30,158	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(39,009	)		(62,597	)		(91,548	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		7,927			(5,691	)		5,141
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(917,196	)		(278,856	)		(2,244,208	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			34,901			6,688
Cumulative impairment loss in investments in operating limited partnerships		325,787			554,366			1,018,072
Other		1,126			(4,235	)		125,715
Equity per operating limited partnerships’ combined financial statements	$	(621,365	)	$	237,888		$	(1,210,298	)

F-114

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 25		Series 26			Series 27
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	-	$	3,935,123		$	3,133,255
Acquisition costs of operating limited partnerships		-		594,449			387,469
Cumulative distributions from operating limited partnerships		-		(11,745	)		-
Cumulative impairment loss in investments in operating limited partnerships		-		(902,540	)		(2,626,423	)
Cumulative losses from operating limited partnerships		-		(3,615,287	)		(894,301	)
Investments in operating limited partnerships per balance sheet		-		-			-

F-115

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 25		Series 26			Series 27
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-		(51,000	)		-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-		(38,119	)		(222,527	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-		28,901			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		-		(3,965,540	)		(925,221	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-		171,816			-
Cumulative impairment loss in investments in operating limited partnerships		-		902,540			2,626,423
Other		-		(88,729	)		(105,509	)
Equity per operating limited partnerships’ combined financial statements	$	-	$	(3,040,131	)	$	1,373,166

F-116

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 28			Series 29			Series 30
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	2,736,848		$	6,015,021		$	3,419,639
Acquisition costs of operating limited partnerships		388,894			869,863			370,248
Cumulative distributions from operating limited partnerships		(5,079	)		(14,324	)		(22,837	)
Cumulative impairment loss in investments in operating limited partnerships		(973,150	)		(2,645,150	)		(1,571,164	)
Cumulative losses from operating limited partnerships		(2,147,513	)		(4,225,410	)		(2,195,886	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-117

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 28			Series 29			Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(12,030	)		-			(71,585	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(62,189	)		(132,403	)		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		33,990			39,537			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,012,890	)		(2,943,963	)		(1,447,713	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			(316	)		1,092
Cumulative impairment loss in investments in operating limited partnerships		973,150			2,645,150			1,571,164
Other		(47,411	)		(33,985	)		(12,117	)
Equity per operating limited partnerships’ combined financial statements	$	(1,127,380	)	$	(425,980	)	$	40,841

F-118

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 31			Series 32			Series 33
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	5,325,826		$	12,481,943		$	6,465,137
Acquisition costs of operating limited partnerships		744,060			1,405,649			783,763
Cumulative distributions from operating limited partnerships		(29,962	)		(44,114	)		(3,170	)
Cumulative impairment loss in investments in operating limited partnerships		(3,106,050	)		(8,016,312	)		(5,228,587	)
Cumulative losses from operating limited partnerships		(2,933,874	)		(5,827,166	)		(2,017,143	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-119

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 31			Series 32			Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(47,462	)		(160,172	)		(81,443	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(77,600	)		-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		740			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,336,809	)		(3,691,664	)		(1,423,036	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			29,991			-
Cumulative impairment loss in investments in operating limited partnerships		3,106,050			8,016,312			5,228,587
Other		(44,918	)		225,300			(18,341	)
Equity per operating limited partnerships’ combined financial statements	$	(399,999	)	$	4,419,767		$	3,705,767

F-120

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 34			Series 35			Series 36
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,257,458		$	2,705,747		$	4,276,900
Acquisition costs of operating limited partnerships		411,337			-			-
Cumulative distributions from operating limited partnerships		(20,308	)		-			(27,291	)
Cumulative impairment loss in investments in operating limited partnerships		(3,951,725	)		(754,520	)		(2,406,542	)
Cumulative losses from operating limited partnerships		(2,696,762	)		(1,951,227	)		(1,843,067	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-121

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 34			Series 35			Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-			-			-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(288,550	)		-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,445,856	)		(2,119,964	)		(1,076,427	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			3,300			-
Cumulative impairment loss in investments in operating limited partnerships		3,951,725			754,520			2,406,542
Other		(143,671	)		5			(37,008	)
Equity per operating limited partnerships’ combined financial statements	$	2,073,648		$	(1,362,139	)	$	1,293,107

F-122

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 37			Series 38			Series 39
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,003,938		$	9,815,140		$	-
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(65,908	)		(359,635	)		-
Cumulative impairment loss in investments in operating limited partnerships		(3,023,930	)		(7,249,126	)		-
Cumulative losses from operating limited partnerships		(2,914,100	)		(2,206,379	)		-
Investments in operating limited partnerships per balance sheet		-			-			-

F-123

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 37			Series 38			Series 39
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		-			-			-
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,295,610	)		(890,820	)		-
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			-			-
Cumulative impairment loss in investments in operating limited partnerships		3,023,930			7,249,126			-
Other		(65,834	)		(269,977	)		-
Equity per operating limited partnerships’ combined financial statements	$	1,662,486		$	6,088,329		$	-

F-124

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 40			Series 41			Series 42
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	10,870,415		$	9,423,231		$	9,955,057
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(22,466	)		(28,546	)		(13,231	)
Cumulative impairment loss in investments in operating limited partnerships		(5,308,127	)		(3,548,252	)		(4,092,870	)
Cumulative losses from operating limited partnerships		(5,539,822	)		(5,846,433	)		(5,848,956	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-125

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 40			Series 41			Series 42
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(16,841	)		(33,807	)		(76,678	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(2,760,624	)		(3,298,857	)		(3,931,656	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		22,950			-			-
Cumulative impairment loss in investments in operating limited partnerships		5,308,127			3,548,252			4,092,870
Other		(74,329	)		(386,974	)		(45,152	)
Equity per operating limited partnerships’ combined financial statements	$	2,479,283		$	(171,386	)	$	39,384

F-126

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 43			Series 44			Series 45
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	18,263,440		$	13,739,925		$	25,399,407
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(264,057	)		(49,115	)		(320,357	)
Cumulative impairment loss in investments in operating limited partnerships		(8,893,106	)		(5,557,696	)		(16,583,879	)
Cumulative losses from operating limited partnerships		(9,106,277	)		(8,133,114	)		(8,495,171	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-127

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 43			Series 44			Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(34,350	)		-			(129,725	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(4,470,306	)		(4,653,305	)		(3,073,662	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			-			23,309
Cumulative impairment loss in investments in operating limited partnerships		8,893,106			5,557,696			16,583,879
Other		(91,726	)		(119,646	)		(219,562	)
Equity per operating limited partnerships’ combined financial statements	$	4,296,724		$	784,745		$	13,184,239

F-128

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2018 are summarized as follows:

	Series 46
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	19,944,593
Acquisition costs of operating limited partnerships		-
Cumulative distributions from operating limited partnerships		(200,379	)
Cumulative impairment loss in investments in operating limited partnerships		(13,031,398	)
Cumulative losses from operating limited partnerships		(6,712,816	)
Investments in operating limited partnerships per balance sheet		-

F-129

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2018 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2017 (see note A).		(7,089	)
The Fund has recorded acquisition costs at March 31, 2018 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,584,721	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		4,594
Cumulative impairment loss in investments in operating limited partnerships		13,031,398
Other		(77,622	)
Equity per operating limited partnerships’ combined financial statements	$	11,366,560

F-130

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Total			Series 20			Series 21
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	226,703,371		$	1,140,993		$	524,510
Acquisition costs of operating limited partnerships		9,097,175			162,528			85,843
Cumulative distributions from operating limited partnerships		(1,675,040	)		-			(22,441	)
Cumulative impairment loss in investments in operating limited partnerships		(122,872,037	)		(337,192	)		(38,116	)
Cumulative losses from operating limited partnerships		(111,253,469	)		(966,329	)		(549,796	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-131

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

F-132

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 22			Series 23			Series 24
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	755,045		$	3,303,139		$	2,879,744
Acquisition costs of operating limited partnerships		78,016			482,854			310,375
Cumulative distributions from operating limited partnerships		-			-			(34,932	)
Cumulative impairment loss in investments in operating limited partnerships		(325,787	)		(2,213,351	)		(1,151,381	)
Cumulative losses from operating limited partnerships		(507,274	)		(1,572,642	)		(2,003,806	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-133

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 22				Series 23			Series 24
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-				-			(30,158	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(39,009	)			(62,597	)		(91,548	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		7,927				(5,691	)		841
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(856,165	)			(970,072	)		(2,267,378	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-				34,901			6,688
Cumulative impairment loss in investments in operating limited partnerships		325,787				2,213,351			1,151,381
				��
Other		1,125				(97,940	)		107,836
Equity per operating limited partnerships’ combined financial statements	$	(560,335	)		$	1,111,952		$	(1,122,338	)

F-134

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 25			Series 26			Series 27
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	1,438,868		$	5,164,819		$	5,994,660
Acquisition costs of operating limited partnerships		167,460			772,454			813,797
Cumulative distributions from operating limited partnerships		(57,503	)		(30,449	)		(1,096	)
Cumulative impairment loss in investments in operating limited partnerships		(1,430,062	)		(1,350,275	)		(3,487,976	)
Cumulative losses from operating limited partnerships		(118,763	)		(4,556,549	)		(3,319,385	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-135

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 25			Series 26			Series 27
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-			(51,000	)		-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			(59,837	)		(222,527	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		31,239			45,732			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(456,606	)		(4,815,872	)		(1,317,831	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			171,816			-
Cumulative impairment loss in investments in operating limited partnerships		1,430,062			1,350,275			3,487,976
Other		(78,352	)		(94,916	)		(84,291	)
Equity per operating limited partnerships’ combined financial statements	$	926,343		$	(3,453,802	)	$	1,863,327

F-136

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 28			Series 29			Series 30
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	2,736,848		$	9,231,659		$	5,493,284
Acquisition costs of operating limited partnerships		388,894			1,333,588			667,262
Cumulative distributions from operating limited partnerships		(5,079	)		(14,324	)		(29,318	)
Cumulative impairment loss in investments in operating limited partnerships		(930,910	)		(5,444,545	)		(2,194,151	)
Cumulative losses from operating limited partnerships		(2,189,753	)		(5,106,378	)		(3,937,077	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-137

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 28			Series 29			Series 30
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(12,030	)		-			(112,197	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(62,189	)		(596,128	)		(235,701	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		33,990			39,537			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,819,446	)		(3,478,199	)		(2,083,473	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			7,039			1,092
Cumulative impairment loss in investments in operating limited partnerships		930,910			5,444,545			2,194,151
Other		(45,965	)		(30,529	)		(21,265	)
Equity per operating limited partnerships’ combined financial statements	$	(974,730	)	$	1,386,265		$	(257,393	)

F-138

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 31			Series 32			Series 33
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	5,898,003		$	14,149,131		$	8,367,365
Acquisition costs of operating limited partnerships		826,360			1,645,450			950,957
Cumulative distributions from operating limited partnerships		(31,355	)		(45,614	)		(3,170	)
Cumulative impairment loss in investments in operating limited partnerships		(3,574,025	)		(9,175,569	)		(6,568,884	)
Cumulative losses from operating limited partnerships		(3,118,983	)		(6,573,398	)		(2,746,268	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-139

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 31			Series 32			Series 33
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(47,462	)		(172,318	)		(179,468	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(77,600	)		-			(167,193	)
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		6,859			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(3,188,582	)		(3,395,101	)		(1,876,329	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			29,991			9,684
Cumulative impairment loss in investments in operating limited partnerships		3,574,025			9,175,569			6,568,884
Other		(50,995	)		251,165			(13,716	)
Equity per operating limited partnerships’ combined financial statements	$	216,245		$	5,889,306		$	4,341,862

F-140

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 34			Series 35			Series 36
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	6,257,458		$	5,386,247		$	4,276,900
Acquisition costs of operating limited partnerships		411,337			-			-
Cumulative distributions from operating limited partnerships		(20,308	)		(2,459	)		(27,291	)
Cumulative impairment loss in investments in operating limited partnerships		(3,951,725	)		(2,462,259	)		(2,406,542	)
Cumulative losses from operating limited partnerships		(2,696,762	)		(2,921,529	)		(1,843,067	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-141

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 34			Series 35			Series 36
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		-			-			-
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		(288,550	)		-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,354,867	)		(2,237,121	)		(984,727	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			3,300			-
Cumulative impairment loss in investments in operating limited partnerships		3,951,725			2,462,259			2,406,542
Other		(139,920	)		2,467			(33,040	)
Equity per operating limited partnerships’ combined financial statements	$	2,168,388		$	230,905		$	1,388,775

F-142

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 37			Series 38			Series 39
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	7,549,550		$	9,815,140		$	671,150
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(65,908	)		(359,635	)		-
Cumulative impairment loss in investments in operating limited partnerships		(3,922,795	)		(7,194,962	)		(233,531	)
Cumulative losses from operating limited partnerships		(3,560,847	)		(2,260,543	)		(437,619	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-143

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

F-144

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 40			Series 41			Series 42
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	11,579,898		$	15,436,181		$	16,067,004
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(22,466	)		(38,570	)		(20,956	)
Cumulative impairment loss in investments in operating limited partnerships		(5,441,719	)		(5,854,800	)		(7,195,970	)
Cumulative losses from operating limited partnerships		(6,115,713	)		(9,542,811	)		(8,850,078	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-145

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

F-146

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 43			Series 44			Series 45
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	23,300,481		$	13,739,925		$	25,600,776
Acquisition costs of operating limited partnerships		-			-			-
Cumulative distributions from operating limited partnerships		(271,984	)		(49,115	)		(320,688	)
Cumulative impairment loss in investments in operating limited partnerships		(11,001,252	)		(5,442,013	)		(16,541,124	)
Cumulative losses from operating limited partnerships		(12,027,245	)		(8,248,797	)		(8,738,964	)
Investments in operating limited partnerships per balance sheet		-			-			-

F-147

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 43			Series 44			Series 45
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(121,319	)		-			(129,725	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-			-			-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-			-			-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(4,434,039	)		(4,416,600	)		(2,226,331	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		-			-			23,309
Cumulative impairment loss in investments in operating limited partnerships		11,001,252			5,442,013			16,541,124
Other		(50,452	)		(90,418	)		(164,622	)
Equity per operating limited partnerships’ combined financial statements	$	6,395,442		$	934,995		$	14,043,755

F-148

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The Fund’s investments in operating limited partnerships at March 31, 2017 are summarized as follows:

	Series 46
Capital contributions paid and to be paid to operating limited partnerships, net of tax credit adjusters and impairment of capitalized costs	$	19,944,593
Acquisition costs of operating limited partnerships		-
Cumulative distributions from operating limited partnerships		(200,379	)
Cumulative impairment loss in investments in operating limited partnerships		(13,001,121	)
Cumulative losses from operating limited partnerships		(6,743,093	)
Investments in operating limited partnerships per balance sheet		-

F-149

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

	Series 46
The Fund has recorded capital contributions to the operating limited partnerships during the year ended March 31, 2017 which have not been included in the partnership’s capital account included in the operating limited partnerships’ financial statements as of December 31, 2016 (see note A).		(7,089	)
The Fund has recorded acquisition costs at March 31, 2017 which have not been recorded in the net assets of the operating limited partnerships (see note A).		-
Cumulative losses from operating limited partnerships for the three months ended March 31, which the operating limited partnerships have not included in their capital as of December 31, due to different year ends (see note A).		-
Equity in loss of operating limited partnerships not recognizable under the equity method of accounting (see note A).		(1,244,503	)
The Fund has recorded low-income housing tax credit adjusters not recorded by operating limited partnerships (see note A).		4,594
Cumulative impairment loss in investments in operating limited partnerships		13,001,121
Other		(37,443	)
Equity per operating limited partnerships’ combined financial statements	$	11,716,680

F-150

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS

	Total			Series 20			Series 21
ASSETS
Buildings and improvements, net of accumulated depreciation	$	249,209,773		$	1,460,271		$	-
Land		27,147,517			121,238			-
Other assets		39,106,718			541,654			-
	$	315,464,008		$	2,123,163		$	-
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	234,642,083		$	1,827,138		$	-
Accounts payable and accrued expenses		12,444,674			82,131			-
Other liabilities		29,381,746			44,740			-
		276,468,503			1,954,009			-
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		44,675,127			(12,129	)		-
Other partners		(5,679,622	)		181,283			-
		38,995,505			169,154			-
	$	315,464,008		$	2,123,163		$	-

F-151

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	��	Series 22			Series 23			Series 24
ASSETS
Buildings and improvements, net of accumulated depreciation		$	1,793,608		$	2,046,782		$	2,369,663
Land			426,603			389,075			527,938
Other assets			1,033,547			991,609			447,400
		$	3,253,758		$	3,427,466		$	3,345,001
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable		$	3,791,955		$	3,088,788		$	4,032,540
Accounts payable and accrued expenses			112,473			99,536			132,642
Other liabilities			51,431			38,141			408,586
			3,955,859			3,226,465			4,573,768
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.			(621,365	)		237,888			(1,210,298	)
Other partners			(80,736	)		(36,887	)		(18,469	)
			(702,101	)		201,001			(1,228,767	)
		$	3,253,758		$	3,427,466		$	3,345,001

F-152

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 25		Series 26			Series 27
ASSETS
Buildings and improvements, net of accumulated depreciation	$	-	$	4,879,803		$	4,254,056
Land		-		462,610			410,981
Other assets		-		772,068			400,890
	$	-	$	6,114,481		$	5,065,927
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	-	$	6,904,332		$	2,409,239
Accounts payable and accrued expenses		-		1,486,077			235,966
Other liabilities		-		1,095,335			460,815
		-		9,485,744			3,106,020
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		-		(3,040,131	)		1,373,166
Other partners		-		(331,132	)		586,741
		-		(3,371,263	)		1,959,907
	$	-	$	6,114,481		$	5,065,927

F-153

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 28			Series 29			Series 30
ASSETS
Buildings and improvements, net of accumulated depreciation	$	3,755,398		$	6,106,858		$	4,315,605
Land		251,300			414,245			305,500
Other assets		482,629			1,056,737			671,879
	$	4,489,327		$	7,577,840		$	5,292,984
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	4,478,673		$	5,671,239		$	4,454,001
Accounts payable and accrued expenses		169,655			874,253			236,951
Other liabilities		1,115,613			1,747,302			413,484
		5,763,941			8,292,794			5,104,436
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(1,127,380	)		(425,980	)		40,841
Other partners		(147,234	)		(288,974	)		147,707
		(1,274,614	)		(714,954	)		188,548
	$	4,489,327		$	7,577,840		$	5,292,984

F-154

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 31			Series 32		Series 33
ASSETS
Buildings and improvements, net of accumulated depreciation	$	6,411,391		$	12,082,984	$	9,945,410
Land		679,013			1,039,323		1,048,536
Other assets		1,227,670			1,704,002		819,007
	$	8,318,074		$	14,826,309	$	11,812,953
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	8,155,638		$	6,305,907	$	5,038,209
Accounts payable and accrued expenses		562,436			1,134,284		94,290
Other liabilities		347,897			900,912		202,248
		9,065,971			8,341,103		5,334,747
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		(399,999	)		4,419,767		3,705,767
Other partners		(347,898	)		2,065,439		2,772,439
		(747,897	)		6,485,206		6,478,206
	$	8,318,074		$	14,826,309	$	11,812,953

F-155

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 34			Series 35			Series 36
ASSETS
Buildings and improvements, net of accumulated depreciation	$	4,664,921		$	3,402,696		$	5,018,234
Land		230,576			424,178			655,300
Other assets		1,160,601			774,344			692,934
	$	6,056,098		$	4,601,218		$	6,366,468
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	3,222,586		$	3,914,272		$	3,390,303
Accounts payable and accrued expenses		236,580			105,814			642,979
Other liabilities		777,336			2,530,084			319,267
		4,236,502			6,550,170			4,352,549
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,073,648			(1,362,139	)		1,293,107
Other partners		(254,052	)		(586,813	)		720,812
		1,819,596			(1,948,952	)		2,013,919
	$	6,056,098		$	4,601,218		$	6,366,468

F-156

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 37			Series 38			Series 39
ASSETS
Buildings and improvements, net of accumulated depreciation	$	2,938,976		$	7,232,837		$	-
Land		300,500			670,346			-
Other assets		363,761			1,069,314			-
	$	3,603,237		$	8,972,497		$	-
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	2,226,066		$	4,372,730		$	-
Accounts payable and accrued expenses		113,657			110,235			-
Other liabilities		75,800			570,658			-
		2,415,523			5,053,623			-
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		1,662,486			6,088,329			-
Other partners		(474,772	)		(2,169,455	)		-
		1,187,714			3,918,874			-
	$	3,603,237		$	8,972,497		$	-

F-157

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 40		Series 41			Series 42
ASSETS
Buildings and improvements, net of accumulated depreciation	$	11,886,926	$	15,806,500		$	18,204,788
Land		533,804		2,809,784			4,017,885
Other assets		1,262,627		3,213,204			3,343,171
	$	13,683,357	$	21,829,488		$	25,565,844
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	8,860,117	$	20,947,647		$	22,140,649
Accounts payable and accrued expenses		950,497		949,825			2,232,722
Other liabilities		1,304,968		1,063,816			1,866,089
		11,115,582		22,961,288			26,239,460
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		2,479,283		(171,386	)		39,384
Other partners		88,492		(960,414	)		(713,000	)
		2,567,775		(1,131,800	)		(673,616	)
	$	13,683,357	$	21,829,488		$	25,565,844

F-158

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 43			Series 44			Series 45
ASSETS
Buildings and improvements, net of accumulated depreciation	$	24,334,517		$	30,064,552		$	36,333,189
Land		2,922,696			3,008,317			3,549,710
Other assets		3,682,350			3,564,066			6,347,963
	$	30,939,563		$	36,636,935		$	46,230,862
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	25,879,896		$	36,344,684		$	28,098,216
Accounts payable and accrued expenses		469,666			307,798			766,948
Other liabilities		3,952,081			4,931,290			2,521,398
		30,301,643			41,583,772			31,386,562
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		4,296,724			784,745			13,184,239
Other partners		(3,658,804	)		(5,731,582	)		1,660,061
		637,920			(4,946,837	)		14,844,300
	$	30,939,563		$	36,636,935		$	46,230,862

F-159

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized balance sheets of the operating limited partnerships in which Series 20 through 46 hold an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

	Series 46
ASSETS
Buildings and improvements, net of accumulated depreciation	$	29,899,808
Land		1,948,059
Other assets		3,483,291
	$	35,331,158
LIABILITIES AND PARTNERS’ CAPITAL (DEFICIT)
Mortgages and construction loans payable	$	19,087,258
Accounts payable and accrued expenses		337,259
Other liabilities		2,642,455
		22,066,972
PARTNERS’ CAPITAL (DEFICIT)
Boston Capital Tax Credit Fund IV L.P.		11,366,560
Other partners		1,897,626
		13,264,186
	$	35,331,158

F-160

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED BALANCE SHEETS

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

F-161

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

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

F-162

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

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

F-163

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

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

F-164

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

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

F-165

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

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

F-166

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

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

F-167

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

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

F-168

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

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

F-169

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED BALANCE SHEETS - CONTINUED

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

F-170

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Total			Series 20			Series 21
Revenue
Rent	$	59,398,750		$	701,243		$	-
Interest and other		2,081,320			34,131			-
		61,480,070			735,374			-
Expenses
Interest		9,976,398			40,916			-
Depreciation and amortization		15,520,004			190,051			-
Taxes and insurance		7,048,627			84,929			-
Repairs and maintenance		13,245,533			223,413			-
Operating expenses		20,924,826			280,254			-
Impairment loss		-			-			-
Other expenses		1,657,987			15,151			-
		68,373,375			834,714			-
NET INCOME (LOSS)	$	(6,893,305	)	$	(99,340	)	$	-
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(6,894,299	)	$	(41,124	)	$	-
Net income (loss) allocated to other partners	$	994		$	(58,216	)	$	-

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-171

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 22			Series 23			Series 24
Revenue
Rent	$	777,464		$	676,191		$	1,046,817
Interest and other		25,569			29,562			33,804
		803,033			705,753			1,080,621
Expenses
Interest		67,480			53,752			114,978
Depreciation and amortization		166,676			147,788			327,920
Taxes and insurance		109,531			114,432			105,929
Repairs and maintenance		246,890			195,543			312,137
Operating expenses		284,562			241,378			425,363
Impairment loss		-			-			-
Other expenses		26,664			23,314			11,000
		901,803			776,207			1,297,327
NET INCOME (LOSS)	$	(98,770	)	$	(70,454	)	$	(216,706	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(61,031	)	$	(36,752	)	$	(164,872	)
Net income (loss) allocated to other partners	$	(37,739	)	$	(33,702	)	$	(51,834	)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-172

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 25		Series 26			Series 27
Revenue
Rent	$	-	$	1,404,161		$	1,102,641
Interest and other		-		19,444			33,171
		-		1,423,605			1,135,812
Expenses
Interest		-		253,767			70,722
Depreciation and amortization		-		358,807			255,283
Taxes and insurance		-		199,939			155,332
Repairs and maintenance		-		352,166			264,890
Operating expenses		-		612,472			409,198
Impairment loss		-		-			-
Other expenses		-		15,500			3,738
		-		1,792,651			1,159,163
NET INCOME (LOSS)	$	-	$	(369,046	)	$	(23,351	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	-	$	(366,786	)	$	(122,997	)
Net income (loss) allocated to other partners	$	-	$	(2,260	)	$	99,646

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-173

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 28			Series 29			Series 30
Revenue
Rent	$	975,117		$	1,634,250		$	939,076
Interest and other		47,573			51,201			23,518
		1,022,690			1,685,451			962,594
Expenses
Interest		159,861			373,340			84,542
Depreciation and amortization		228,061			354,571			242,960
Taxes and insurance		128,754			222,567			121,506
Repairs and maintenance		210,652			369,821			208,871
Operating expenses		447,746			607,139			418,238
Impairment loss		-			-			-
Other expenses		-			22,800			35,405
		1,175,074			1,950,238			1,111,522
NET INCOME (LOSS)	$	(152,384	)	$	(264,787	)	$	(148,928	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(195,312	)	$	(282,525	)	$	(144,991	)
Net income (loss) allocated to other partners	$	42,928		$	17,738		$	(3,937	)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-174

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 31			Series 32			Series 33
Revenue
Rent	$	1,348,492		$	2,428,492		$	2,100,839
Interest and other		43,915			52,192			69,087
		1,392,407			2,480,684			2,169,926
Expenses
Interest		105,031			417,115			332,490
Depreciation and amortization		484,843			718,635			464,936
Taxes and insurance		235,144			307,332			245,656
Repairs and maintenance		271,520			585,210			471,398
Operating expenses		801,235			818,716			731,323
Impairment loss		-			-			-
Other expenses		6,100			280,402			109,922
		1,903,873			3,127,410			2,355,725
NET INCOME (LOSS)	$	(511,466	)	$	(646,726	)	$	(185,799	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(508,072	)	$	(529,903	)	$	(166,677	)
Net income (loss) allocated to other partners	$	(3,394	)	$	(116,823	)	$	(19,122	)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-175

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 34			Series 35			Series 36
Revenue
Rent	$	990,022		$	1,109,868		$	1,404,270
Interest and other		50,401			56,608			96,136
		1,040,423			1,166,476			1,500,406
Expenses
Interest		115,831			166,488			245,431
Depreciation and amortization		274,190			322,312			400,320
Taxes and insurance		142,435			125,565			207,765
Repairs and maintenance		271,381			146,852			240,660
Operating expenses		328,145			315,137			536,516
Impairment loss		-			-			-
Other expenses		-			20,000			33,240
		1,131,982			1,096,354			1,663,932
NET INCOME (LOSS)	$	(91,559	)	$	70,122		$	(163,526	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(131,700	)	$	(28,464	)	$	(105,544	)
Net income (loss) allocated to other partners	$	40,141		$	98,586		$	(57,982	)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-176

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 37			Series 38			Series 39
Revenue
Rent	$	926,321		$	1,815,067		$	-
Interest and other		94,968			32,993			-
		1,021,289			1,848,060			-
Expenses
Interest		154,787			237,109			-
Depreciation and amortization		288,474			351,840			-
Taxes and insurance		123,765			208,711			-
Repairs and maintenance		126,872			340,146			-
Operating expenses		394,926			663,366			-
Impairment loss		-			-			-
Other expenses		21,240			18,000			-
		1,110,064			1,819,172			-
NET INCOME (LOSS)	$	(88,775	)	$	28,888		$	-
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(71,171	)	$	(60,830	)	$	-
Net income (loss) allocated to other partners	$	(17,604	)	$	89,718		$	-

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-177

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 40			Series 41			Series 42
Revenue
Rent	$	2,283,836		$	4,412,627		$	5,090,021
Interest and other		62,781			84,421			137,483
		2,346,617			4,497,048			5,227,504
Expenses
Interest		409,713			839,230			1,054,603
Depreciation and amortization		658,520			959,310			1,250,104
Taxes and insurance		265,802			594,085			660,648
Repairs and maintenance		648,664			908,083			1,189,295
Operating expenses		907,664			1,295,534			1,375,366
Impairment loss		-			-			-
Other expenses		40,662			285,669			293,209
		2,931,025			4,881,911			5,823,225
NET INCOME (LOSS)	$	(584,408	)	$	(384,863	)	$	(595,721	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(529,771	)	$	(453,901	)	$	(579,351	)
Net income (loss) allocated to other partners	$	(54,637	)	$	69,038		$	(16,370	)

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-178

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2017 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2017 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 43			Series 44			Series 45
Revenue
Rent	$	5,672,841		$	7,803,146		$	7,720,272
Interest and other		322,373			299,178			181,028
		5,995,214			8,102,324			7,901,300
Expenses
Interest		859,783			1,856,141			969,028
Depreciation and amortization		1,864,267			1,852,534			2,091,134
Taxes and insurance		680,940			516,078			759,561
Repairs and maintenance		1,397,953			1,519,781			1,901,521
Operating expenses		2,113,375			2,512,418			2,804,275
Impairment loss		-			-			-
Other expenses		45,619			68,979			237,099
		6,961,937			8,325,931			8,762,618
NET INCOME (LOSS)	$	(966,723	)	$	(223,607	)	$	(861,318	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(638,082	)	$	(407,845	)	$	(897,088	)
Net income (loss) allocated to other partners	$	(328,641	)	$	184,238		$	35,770

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-179

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

The combined summarized statements of operations of the operating limited partnerships for the year ended December 31, 2018 for operating limited partnerships in which Series 20 through Series 46 had an interest as of December 31, 2018 are as follows:

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

	Series 46
Revenue
Rent	$	5,035,676
Interest and other		199,783
		5,235,459
Expenses
Interest		994,260
Depreciation and amortization		1,266,468
Taxes and insurance		732,221
Repairs and maintenance		841,814
Operating expenses		1,600,480
Impairment loss		-
Other expenses		44,274
		5,479,517
NET INCOME (LOSS)	$	(244,058	)
Net income (loss) allocated to Boston Capital Tax Credit Fund IV L.P.  *	$	(369,510	)
Net income (loss) allocated to other partners	$	125,452

* Amounts include $41,124, $61,031, $36,752, $164,872, $366,786, $122,997, $195,312, $282,525, $144,991, $508,072, $529,903, $166,677, $131,700, $28,464, $105,544, $71,171, $60,830,  $529,771, $453,901, $579,351, $638,082, $407,845, $897,088 and $369,510 for Series 20, 22, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 40, 41, 42, 43, 44, 45 and 46, respectively, of loss not recognized under the equity method of accounting as described in note A.

F-180

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

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

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

F-181

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

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

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

F-182

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

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

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

F-183

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

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

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

F-184

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

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

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

F-185

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

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

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

F-186

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

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

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

F-187

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

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

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

F-188

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

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

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

F-189

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE C - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS (Continued)

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

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS

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

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

F-190

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE D - NOTES RECEIVABLE

Notes receivable at March 31, 2018 and 2017 consist of advance installments of $0 and $22,790, respectively, of capital contributions to operating limited partnerships. The notes are comprised of interest bearing notes at prime + 1.75%. Prime was 3.25% as of March 31, 2018 and 2017. These notes are secured by future installments of capital contributions or paid upon demand. The notes at March 31, 2018 and 2017 by series are as follows:

	2018		2017
Series 20	$	-	$	-
Series 21		-		-
Series 22		-		-
Series 23		-		-
Series 24		-		-
Series 25		-		-
Series 26		-		-
Series 27		-		-
Series 28		-		-
Series 29		-		-
Series 30		-		-
Series 31		-		-
Series 32		-		-
Series 33		-		-
Series 34		-		-
Series 35		-		-
Series 36		-		-
Series 37		-		-
Series 38		-		-
Series 39		-		-
Series 40		-		-
Series 41		-		-
Series 42		-		22,790
Series 43		-		-
Series 44		-		-
Series 45		-		-
Series 46		-		-
	$	-	$	22,790

F-191

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Total			Series 20			Series 21
Net income (loss) for financial reporting purposes	$	9,787,196		$	(6,894	)	$	9,244
Operating limited partnership rents received in advance		13,134			50			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(8,810,810	)		(22,179	)		(250,346	)
Other		14,169,885			733,304			-
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(6,894,299	)		(41,124	)		-
Excess of tax depreciation over book depreciation on operating limited partnership assets		(2,514,249	)		401			-
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(13,573,039	)		(17,657	)		951,647
Income (loss) for tax return purposes, December 31, 2017	$	(7,822,182	)	$	645,901		$	710,545

F-192

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 22			Series 23			Series 24
Net income (loss) for financial reporting purposes	$	(59,412	)	$	943,256		$	21,331
Operating limited partnership rents received in advance		-			-			777
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		29,212			(1,156,287	)		-
Other		2			(225,288	)		(18,366	)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(61,031	)		(36,752	)		(164,872	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(21,871	)		(29,857	)		(35,635	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(13,333	)		(320,484	)		(109,573	)
Income (loss) for tax return purposes, December 31, 2017	$	(126,433	)	$	(825,412	)	$	(306,338	)

F-193

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 25		Series 26			Series 27
Net income (loss) for financial reporting purposes	$	34,406	$	(35,421	)	$	3,225,133
Operating limited partnership rents received in advance		-		-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-		-			-
Other		-		1,333,631			5,285,281
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		-		(366,786	)		(122,997	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		-		(91,645	)		(35,980	)
Impairment loss not recognized for tax purposes		-		-			-
Operating limited partnership impairment loss not recognized for tax purposes		-		-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		151,588		(113,791	)		(3,477,575	)
Income (loss) for tax return purposes, December 31, 2017	$	185,994	$	725,988		$	4,873,862

F-194

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 28			Series 29			Series 30
Net income (loss) for financial reporting purposes	$	(69,919	)	$	203,747		$	240,789
Operating limited partnership rents received in advance		-			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			80,369			(21,019	)
Other		194,238			(129,500	)		782,386
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(195,312	)		(282,525	)		(144,991	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(74,586	)		(84,435	)		(84,171	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(12,139	)		(361,500	)		(228,100	)
Income (loss) for tax return purposes, December 31, 2017	$	(157,718	)	$	(573,844	)	$	544,894

F-195

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 31			Series 32			Series 33
Net income (loss) for financial reporting purposes	$	(75,968	)	$	1,576,107		$	121,295
Operating limited partnership rents received in advance		-			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			(1,847,595	)		62,127
Other		452,761			(189,392	)		(59,893	)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(508,072	)		(529,903	)		(166,677	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(104,750	)		(113,242	)		(106,881	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(50,514	)		(971,004	)		(215,225	)
Income (loss) for tax return purposes, December 31, 2017	$	(286,543	)	$	(2,075,029	)	$	(365,254	)

F-196

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 34			Series 35			Series 36
Net income (loss) for financial reporting purposes	$	(73,012	)	$	2,587,521		$	(60,762	)
Operating limited partnership rents received in advance		-			-			2,778
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(381,229	)		(551,982	)		(767,505	)
Other		40,711			2,508,317			21,740
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(131,700	)		(28,464	)		(105,544	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(67,604	)		(20,415	)		(29,474	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(83,107	)		(3,352,191	)		(64,237	)
Income (loss) for tax return purposes, December 31, 2017	$	(695,941	)	$	1,142,786		$	(1,003,004	)

F-197

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 37			Series 38			Series 39
Net income (loss) for financial reporting purposes	$	90,852		$	(46,425	)	$	(48,069	)
Operating limited partnership rents received in advance		11,662			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(1,530,566	)		(1,497,751	)		(933,785	)
Other		1,023,999			1,088,875			-
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(71,171	)		(60,830	)		-
Excess of tax depreciation over book depreciation on operating limited partnership assets		-			(115,819	)		-
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(812,963	)		(709,313	)		(918,718	)
Income (loss) for tax return purposes, December 31, 2017	$	(1,288,187	)	$	(1,341,263	)	$	(1,900,572	)

F-198

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 40			Series 41			Series 42
Net income (loss) for financial reporting purposes	$	454,012		$	814,281		$	265,175
Operating limited partnership rents received in advance		(171	)		-			(1,477	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(270,989	)		(392,649	)		-
Other		196,272			278,963			(15,484	)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(529,771	)		(453,901	)		(579,351	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(137,534	)		(141,798	)		(119,125	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(444,218	)		(593,397	)		(547,917	)
Income (loss) for tax return purposes, December 31, 2017	$	(732,399	)	$	(488,501	)	$	(998,179	)

F-199

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 43			Series 44			Series 45
Net income (loss) for financial reporting purposes	$	349,598		$	(227,804	)	$	(276,116	)
Operating limited partnership rents received in advance		(485	)		-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		143,797			231,224			281,324
Other		239,450			491,352			85,888
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(638,082	)		(407,845	)		(897,088	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(139,389	)		(294,302	)		(260,708	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(961,052	)		(87,589	)		(156,431	)
Income (loss) for tax return purposes, December 31, 2017	$	(1,006,163	)	$	(294,964	)	$	(1,223,131	)

F-200

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The Fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2018 is reconciled as follows:

	Series 46
Net income (loss) for financial reporting purposes	$	(169,749	)
Operating limited partnership rents received in advance		-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(14,981	)
Other		50,638
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(369,510	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(405,429	)
Impairment loss not recognized for tax purposes		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(54,246	)
Income (loss) for tax return purposes, December 31, 2017	$	(963,277	)

F-201

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Total			Series 20			Series 21
Net income (loss) for financial reporting purposes	$	15,103,290		$	65,321		$	(44,938	)
Operating limited partnership rents received in advance		155			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(9,530,240	)		24,843			(139,128	)
Other		8,210,250			522,385			18,446
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(8,901,790	)		(106,474	)		(39,102	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(2,914,770	)		(17,784	)		(33,177	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(17,518,111	)		(131,295	)		1,060
Income (loss) for tax return purposes, December 31, 2016	$	(15,551,216	)	$	356,996		$	(236,839	)

F-202

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 22			Series 23			Series 24
Net income (loss) for financial reporting purposes	$	(72,794	)	$	402,128		$	(75,371	)
Operating limited partnership rents received in advance		-			-			(358	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		29,208			37,362			-
Other		547,008			60,716			30,366
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(45,959	)		(159,714	)		(185,148	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(19,546	)		(28,172	)		(52,400	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(31,291	)		(703,528	)		(10,228	)
Income (loss) for tax return purposes, December 31, 2016	$	406,626		$	(391,208	)	$	(293,139	)

F-203

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 25			Series 26			Series 27
Net income (loss) for financial reporting purposes	$	(51,336	)	$	(126,723	)	$	2,675,164
Operating limited partnership rents received in advance		-			-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			-			-
Other		65,984			708			3,509,504
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(112,755	)		(500,992	)		(164,034	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(61,003	)		(102,807	)		106,695
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(6,578	)		(11,559	)		(2,896,130	)
Income (loss) for tax return purposes, December 31, 2016	$	(165,688	)	$	(741,373	)	$	3,231,199

F-204

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 28			Series 29			Series 30
Net income (loss) for financial reporting purposes	$	(64,444	)	$	(173,797	)	$	(103,851	)
Operating limited partnership rents received in advance		-			8,486			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			(99,313	)		69,684
Other		87,980			97,387			21,360
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(198,898	)		(531,118	)		(187,074	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(70,559	)		(111,292	)		(104,590	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(10,783	)		217,422			(285,411	)
Income (loss) for tax return purposes, December 31, 2016	$	(256,704	)	$	(592,225	)	$	(589,882	)

F-205

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 31			Series 32			Series 33
Net income (loss) for financial reporting purposes	$	698,887		$	374,024		$	(94,282	)
Operating limited partnership rents received in advance		-			(1,053	)		3,591
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		-			(593,524	)		(834,408	)
Other		1,772,400			76,514			116,153
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(497,487	)		(529,907	)		(297,842	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(120,866	)		(148,783	)		(122,731	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(879,687	)		(580,023	)		(5,328	)
Income (loss) for tax return purposes, December 31, 2016	$	973,247		$	(1,402,752	)	$	(1,234,847	)

F-206

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 34			Series 35			Series 36
Net income (loss) for financial reporting purposes	$	556,742		$	2,641,797		$	2,482,508
Operating limited partnership rents received in advance		-			2,642			(1,519	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(248,259	)		(1,942,253	)		(525,031	)
Other		(1,066,168	)		1,264,928			889,821
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(136,875	)		(40,749	)		(131,250	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(70,296	)		(79,294	)		(29,683	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(647,142	)		(2,304,632	)		(2,582,560	)
Income (loss) for tax return purposes, December 31, 2016	$	(1,611,998	)	$	(457,561	)	$	102,286

F-207

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 37			Series 38			Series 39
Net income (loss) for financial reporting purposes	$	2,213,042		$	3,212,273		$	1,554,531
Operating limited partnership rents received in advance		(6,374	)		-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(457,692	)		(504,647	)		(620,973	)
Other		1,380,551			2,040,553			(1,571,550	)
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(141,806	)		(144,427	)		(13,393	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(20,612	)		(112,811	)		(13,019	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(1,854,291	)		(2,730,241	)		(1,069,742	)
Income (loss) for tax return purposes, December 31, 2016	$	1,112,818		$	1,760,700		$	(1,734,146	)

F-208

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 40			Series 41			Series 42
Net income (loss) for financial reporting purposes	$	(79,129	)	$	(137,219	)	$	(199,189	)
Operating limited partnership rents received in advance		(2,549	)		-			240
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(178,258	)		124,592			(2,141,040	)
Other		(2,082,251	)		(176,849	)		124,991
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(695,283	)		(535,125	)		(678,898	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(115,566	)		(207,789	)		(215,303	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(158,655	)		(202,362	)		(67,226	)
Income (loss) for tax return purposes, December 31, 2016	$	(3,311,691	)	$	(1,134,752	)	$	(3,176,425	)

F-209

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 43			Series 44			Series 45
Net income (loss) for financial reporting purposes	$	(246,031	)	$	(231,517	)	$	(244,274	)
Operating limited partnership rents received in advance		(323	)		-			-
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		(2,289,322	)		239,076			282,759
Other		(137,271	)		(62,471	)		239,056
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(749,824	)		(596,043	)		(915,282	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(195,524	)		(295,249	)		(274,370	)
Impairment loss not recognized for tax purposes		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Difference due to fiscal year for book purposes and calendar year for tax purposes		186,238			(128,192	)		(137,774	)
Income (loss) for tax return purposes, December 31, 2016	$	(3,432,057	)	$	(1,074,396	)	$	(1,049,885	)

F-210

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

For income tax purposes, the Fund reports using a December 31 year end. The fund’s net income (loss) for financial reporting and tax return purposes for the year ended March 31, 2017 is reconciled as follows:

	Series 46
Net income (loss) for financial reporting purposes	$	171,768
Operating limited partnership rents received in advance		(2,628	)
Accrued partnership fund management fee not deducted (deducted) for income tax purposes		236,084
Other		439,999
Operating limited partnership losses not recognized for financial reporting purposes under equity method of accounting		(566,331	)
Excess of tax depreciation over book depreciation on operating limited partnership assets		(398,239	)
Impairment loss not recognized for tax purposes		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Difference due to fiscal year for book purposes and calendar year for tax purposes		(488,173	)
Income (loss) for tax return purposes, December 31, 2016	$	(607,520	)

F-211

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Total			Series 20			Series 21
Investments in operating limited partnerships - tax return December 31, 2017	$	14,372,703		$	(499,918	)	$	-
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		54,135,331			346,427			-
Impairment loss in investment in operating limited partnerships		(101,705,964	)		(337,192	)		-
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		(110,689	)		(144	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		33,308,619			490,827			-
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-212

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 22			Series 23			Series 24
Investments in operating limited partnerships - tax return December 31, 2017	$	(959,438	)	$	(374,542	)	$	(1,497,270	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		917,196			278,856			2,244,208
Impairment loss in investment in operating limited partnerships		(325,787	)		(554,366	)		(1,018,072	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		(7,927	)		5,691			(5,141	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		375,956			644,361			276,275
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-213

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 25		Series 26			Series 27
Investments in operating limited partnerships - tax return December 31, 2017	$	-	$	(4,269,725	)	$	337,039
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		-		3,965,540			925,221
Impairment loss in investment in operating limited partnerships		-		(902,540	)		(2,626,423	)
Historic tax credits - cumulative		-		-			-
Less share of loss - three months ended March 31, 2018		-		(28,901	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-		-			-
Other		-		1,235,626			1,364,163
Investments in operating limited partnerships - as reported	$	-	$	-		$	-

F-214

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 28			Series 29			Series 30
Investments in operating limited partnerships - tax return December 31, 2017	$	(1,677,298	)	$	(809,909	)	$	(797,391	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,012,890			2,943,963			1,447,713
Impairment loss in investment in operating limited partnerships		(973,150	)		(2,645,150	)		(1,571,164	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		(33,990	)		(39,537	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		671,548			550,633			920,842
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-215

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 31			Series 32			Series 33
Investments in operating limited partnerships - tax return December 31, 2017	$	(1,472,975	)	$	2,314,568		$	2,108,030
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		3,336,809			3,691,664			1,423,036
Impairment loss in investment in operating limited partnerships		(3,106,050	)		(8,016,312	)		(5,228,587	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		(740	)		-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,242,956			2,010,080			1,697,521
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-216

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 34			Series 35			Series 36
Investments in operating limited partnerships - tax return December 31, 2017	$	1,329,228		$	(1,262,041	)	$	1,059,543
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,445,856			2,119,964			1,076,427
Impairment loss in investment in operating limited partnerships		(3,951,725	)		(754,520	)		(2,406,542	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,176,641			(103,403	)		270,572
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-217

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 37			Series 38			Series 39
Investments in operating limited partnerships - tax return December 31, 2017	$	1,720,746		$	4,598,836		$	-
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,295,610			890,820			-
Impairment loss in investment in operating limited partnerships		(3,023,930	)		(7,249,126	)		-
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		7,574			1,759,470			-
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-218

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 40			Series 41			Series 42
Investments in operating limited partnerships - tax return December 31, 2017	$	706,370		$	(2,432,159	)	$	(576,343	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,760,624			3,298,857			3,931,656
Impairment loss in investment in operating limited partnerships		(5,308,127	)		(3,548,252	)		(4,092,870	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,841,133			2,681,554			737,557
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-219

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 43			Series 44			Series 45
Investments in operating limited partnerships - tax return December 31, 2017	$	3,032,936		$	(1,629,402	)	$	9,271,463
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		4,470,306			4,653,305			3,073,662
Impairment loss in investment in operating limited partnerships		(8,893,106	)		(5,557,696	)		(16,583,879	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2018		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,389,864			2,533,793			4,238,754
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-220

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2018 are as follows:

	Series 46
Investments in operating limited partnerships - tax return December 31, 2017	$	6,152,355
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,584,721
Impairment loss in investment in operating limited partnerships		(13,031,398	)
Historic tax credits - cumulative		-
Less share of loss - three months ended March 31, 2018		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Other		5,294,322
Investments in operating limited partnerships - as reported	$	-

F-221

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Total			Series 20			Series 21
Investments in operating limited partnerships - tax return December 31, 2016	$	23,526,808		$	(1,140,956	)	$	(984,278	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		57,696,047			1,066,850			325,745
Impairment loss in investment in operating limited partnerships		(122,872,037	)		(337,192	)		(38,116	)
Historic tax credits - cumulative		978,267			570,617			-
Less share of loss - three months ended March 31, 2017		(183,255	)		(7,136	)		(15,685	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		40,854,170			(152,183	)		712,334
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-222

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 22			Series 23			Series 24
Investments in operating limited partnerships - tax return December 31, 2016	$	(876,538	)	$	1,392,317		$	(1,278,780	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		856,165			970,072			2,267,378
Impairment loss in investment in operating limited partnerships		(325,787	)		(2,213,351	)		(1,151,381	)
Historic tax credits - cumulative		223,537			-			-
Less share of loss - three months ended March 31, 2017		(7,927	)		5,691			(841	)
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		130,550			(154,729	)		163,624
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-223

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 25			Series 26			Series 27
Investments in operating limited partnerships - tax return December 31, 2016	$	(268,984	)	$	(5,065,008	)	$	(1,594,442	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		456,606			4,815,872			1,317,831
Impairment loss in investment in operating limited partnerships		(1,430,062	)		(1,350,275	)		(3,487,976	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		(31,239	)		(45,732	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,273,679			1,645,143			3,764,587
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-224

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 28			Series 29			Series 30
Investments in operating limited partnerships - tax return December 31, 2016	$	(1,601,638	)	$	(313,449	)	$	(1,084,631	)
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,819,446			3,478,199			2,083,473
Impairment loss in investment in operating limited partnerships		(930,910	)		(5,444,545	)		(2,194,151	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		(33,990	)		(39,537	)		-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		747,092			2,319,332			1,195,309
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-225

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 31			Series 32			Series 33
Investments in operating limited partnerships - tax return December 31, 2016	$	(1,182,450	)	$	5,351,336		$	2,508,935
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		3,188,582			3,395,101			1,876,329
Impairment loss in investment in operating limited partnerships		(3,574,025	)		(9,175,569	)		(6,568,884	)
Historic tax credits - cumulative		-			184,113			-
Less share of loss - three months ended March 31, 2017		(6,859	)		-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,574,752			245,019			2,183,620
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-226

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 34			Series 35			Series 36
Investments in operating limited partnerships - tax return December 31, 2016	$	1,488,403		$	(884,003	)	$	1,174,145
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,354,867			2,237,121			984,727
Impairment loss in investment in operating limited partnerships		(3,951,725	)		(2,462,259	)		(2,406,542	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,108,455			1,109,141			247,670
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-227

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 37			Series 38			Series 39
Investments in operating limited partnerships - tax return December 31, 2016	$	1,316,599		$	5,168,309		$	767,711
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,916,369			866,648			97,796
Impairment loss in investment in operating limited partnerships		(3,922,795	)		(7,194,962	)		(233,531	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		689,827			1,160,005			(631,976	)
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-228

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 40			Series 41			Series 42
Investments in operating limited partnerships - tax return December 31, 2016	$	1,822,558		$	(1,243,644	)	$	388,430
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		2,230,853			3,483,277			4,285,267
Impairment loss in investment in operating limited partnerships		(5,441,719	)		(5,854,800	)		(7,195,970	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		1,388,308			3,615,167			2,522,273
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-229

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 43			Series 44			Series 45
Investments in operating limited partnerships - tax return December 31, 2016	$	3,816,055		$	(1,407,277	)	$	10,366,187
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		4,434,039			4,416,600			2,226,331
Impairment loss in investment in operating limited partnerships		(11,001,252	)		(5,442,013	)		(16,541,124	)
Historic tax credits - cumulative		-			-			-
Less share of loss - three months ended March 31, 2017		-			-			-
Operating limited partnership impairment loss not recognized for tax purposes		-			-			-
Other		2,751,158			2,432,690			3,948,606
Investments in operating limited partnerships - as reported	$	-		$	-		$	-

F-230

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

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

The differences between the investments in operating limited partnerships for tax purposes and financial statement purposes at March 31, 2017 are as follows:

	Series 46
Investments in operating limited partnerships - tax return December 31, 2016	$	6,891,901
Operating limited partnership losses not recognized for financial reporting purposes under the equity method		1,244,503
Impairment loss in investment in operating limited partnerships		(13,001,121	)
Historic tax credits - cumulative		-
Less share of loss - three months ended March 31, 2017		-
Operating limited partnership impairment loss not recognized for tax purposes		-
Other		4,864,717
Investments in operating limited partnerships - as reported	$	-

F-231

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS - CONTINUED

March 31, 2018 and 2017

NOTE F - CASH EQUIVALENTS

Cash equivalents of $27,108,889 and $27,084,576 as of March 31, 2018 and 2017, respectively, include money market accounts with interest rates ranging from 0.10% to 0.35% per annum.

NOTE G - CONCENTRATION OF CREDIT RISK

The Fund maintains its cash and cash equivalent balances in several accounts in various financial institutions. The balances are generally insured by the Federal Deposit Insurance Corporation (FDIC) up to specified limits by each institution. At times, the balances may exceed these insurance limits; however, the Fund has not experienced any losses with respect to its balances in excess of FDIC insurance. Management believes that no significant concentration of credit risk with respect to these cash and cash equivalent balances exists as of March 31, 2018.

NOTE H - SUBSEQUENT EVENTS

Subsequent to March 31, 2018, the Fund has entered into agreements to either sell or transfer its interests in three operating limited partnerships, all of which closed by June 2018. The sales price and other terms for the disposition of the operating limited partnerships has been determined. The proceeds received for the operating limited partnerships were $664,657. The gain on the dispositions of these operating limited partnerships was $652,217 and was recognized in the first quarter of the fiscal year ended 2019.

NOTE I - FAIR VALUE OF FINANCIAL INSTRUMENTS

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

F-232