v2.4.0.6

Condensed Balance Sheets (Unaudited) (USD $)	Sep. 30, 2012	Mar. 31, 2012
ASSETS
Cash	$ 62,050	$ 11,489
Investments in Local Limited Partnerships, net (Notes 2 and 3)
Other assets		2,100
Total Assets	62,050	13,589
Liabilities:
Accrued fees and expenses due to General Partner and affiliates (Note 3)	555,010	560,653
Total Liabilities	555,010	560,653
Partners Equity (Deficit):
General Partner	3,090,896	3,090,355
Limited Partners (25,000 Partnership Units authorized;18,000 Partnership Units issued and outstanding)	(3,583,856)	(3,637,419)
Total Partners Equity (Deficit)	(492,960)	(547,064)
Total Liabilities and Partners Equity (Deficit)	$ 62,050	$ 13,589

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

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Carrying amount as of the balance sheet date of obligations due all related parties.

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Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership.

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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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The amount of the limited partners' ownership interests.

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WNC HOUSING TAX CREDIT FUND V LP SERIES 3 10-Q/A