SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-K
(Mark One)

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

                    For the fiscal year ended March 31, 2004

                                       OR

|_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                                  ACT OF 1934

             For the transition period from __________ to __________

                        Commission file number: 333-67682


                 WNC HOUSING TAX CREDIT FUND VI, L.P., Series 10
             (Exact name of registrant as specified in its charter)

                  California                                      33-0974362
                (State or other jurisdiction of                (I.R.S. Employer
               incorporation or organization)                Identification No.)

               17782 Sky Park Circle                              92614-6404
               Irvine, CA                                         (Zip Code)
                    (Address of principal executive offices)

                                 (714) 662-5565
                               (Telephone number)

           Securities registered pursuant to Section 12(b) of the Act:

                                      NONE

           Securities registered pursuant to section 12(g) of the Act:

                      UNITS OF LIMITED PARTNERSHIP INTEREST
                                (Title of Class)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.
Yes     X     No
    ---------    ----------




<PAGE>



Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.

Indicate by check mark whether the registrant is an accelerated filer.
Yes               No      X
    -----------      ---------------


State the aggregate market value of the voting and non-voting common equity held
by non-affiliates  computed by reference to the price at which the common equity
was last sold, or the average bid and asked price of such common  equity,  as of
the last business day of the registrant's most recently  completed second fiscal
quarter.

                                  INAPPLICABLE


                       DOCUMENTS INCORPORATED BY REFERENCE

List hereunder the following documents if incorporated by reference and the Part
of the Form 10-K  (e.g.,  Part I, Part II,  etc.)  into  which the  document  is
incorporated:  (1) Any  annual  report  to  security  holders;  (2) Any proxy or
information  statement;  and (3) Any prospectus filed pursuant to Rule 424(b) or
(c) under the  Securities Act of 1933.  The listed  documents  should be clearly
described for identification  purposes (e.g.,  annual report to security holders
for fiscal year ended December 24, 1980).



                                       2
<PAGE>


PART 1.

Item 1.  Business

Organization

WNC Housing Tax Credit Fund, VI, L.P., Series 10 (the  "Partnership") was formed
under the  California  Revised  Limited  Partnership  Act on July 17, 2001,  and
commenced  operations on February 28, 2003. The Partnership was formed to invest
primarily in other limited  partnerships  or limited  liability  companies  (the
"Local Limited  Partnerships")  which will own and operate  multi-family housing
complexes  that are  eligible  for Federal  low-income  housing  and, in certain
cases, California low-income housing tax credits ("Low-Income Housing Credit").

The general partner of the Partnership is WNC & Associates,  Inc.  ("Associates"
or the "General  Partner").  The chairman and the  president of  Associates  own
substantially  all of the outstanding  stock of Associates.  The business of the
Partnership is conducted primarily through Associates, as the Partnership has no
employees of its own.

Pursuant  to a  supplement  dated  February  28, 2003 to the  prospectus  of the
Partnership dated November 14, 2001, on March 6, 2003, the Partnership commenced
a public offering of 25,000 units of Limited Partnership Interest ("Units"),  at
a price of $1,000 per Unit.  Such offering is closed.  A total of 13,153 Limited
Partnership  Interests  representing  $13,119,270,  net of dealer  discounts  of
$31,220  and  volume  discounts  of $2,510  had been  sold.  Holders  of Limited
Partnership Interests are referred to herein as "Limited Partners."

The Partnership shall continue in full force and effect until December 31, 2062,
unless terminated prior to that date,  pursuant to the partnership  agreement or
law.

Description of Business

The  Partnership's  principal  business  objective  is to  provide  its  Limited
Partners with Low-Income Housing Credits.  The Partnership's  principal business
therefore  consists of investing as a limited partner or non-managing  member in
Local  Limited  Partnerships  each of which  owns and  operates  a  multi-family
housing  complex (the  "Housing  Complexes")  which  qualify for the  Low-Income
Housing Credits.  In general,  under Section 42 of the Internal Revenue Code, an
owner of low-income housing can receive the Low-Income Housing Credit to be used
to reduce  Federal  taxes  otherwise due in each year of a ten-year  period.  In
general,  under Section 17058 of the  California  Revenue and Taxation  Code, an
owner of low-income housing can receive the California Low-Income Housing Credit
to be used against  California  taxes  otherwise due in each year of a four-year
period. Each Housing Complex is subject to a fifteen-year compliance period (the
"Compliance  Period"),  and  under  state  law  may  have  to be  maintained  as
low-income housing for 30 or more years.

In general,  in order to avoid  recapture of  Low-Income  Housing  Credits,  the
Partnership  does not  expect  that it will  dispose of its  interests  in Local
Limited Partnerships ("Local Limited Partnership Interests") or approve the sale
by any Local Limited  Partnership of its Housing Complex prior to the end of the
applicable  Compliance  Period.  Because  of  (i)  the  nature  of  the  Housing
Complexes,  (ii) the  difficulty of predicting  the resale market for low-income
housing  15 or more years in the  future,  and (iii) the  ability of  government
lenders to  disapprove  of transfer,  it is not possible at this time to predict
whether the liquidation of the  Partnership's  assets and the disposition of the
proceeds,  if any, in  accordance  with the  Partnership's  Agreement of Limited
Partnership,  as amended "by Supplements thereto" (the "Partnership Agreement"),
will be able to be accomplished  promptly at the end of the 15-year period. If a
Local  Limited  Partnership  is  unable  to  sell  its  Housing  Complex,  it is
anticipated that the local general partner ("Local General Partner") will either
continue to operate such Housing Complex or take such other actions as the Local
General  Partner  believes  to be in the  best  interest  of the  Local  Limited
Partnership.  Notwithstanding the preceding, circumstances beyond the control of
the  General  Partner  or the  Local  General  Partners  may  occur  during  the
Compliance   Period,   which  would  require  the  Partnership  to  approve  the
disposition of a Housing Complex prior to the end thereof, possibly resulting in
recapture of Low-Income Housing Credits.


                                       3
<PAGE>



As of March  31,  2004 the  Partnership  had  invested  in three  Local  Limited
Partnerships.  Each of these Local Limited  Partnerships  owns a Housing Complex
that is eligible  for the  federal  Low Income  Housing  Credit.  Certain  Local
Limited Partnerships may also benefit from government programs promoting low- or
moderate-income housing.

Certain Risks and Uncertainties

An investment in the  Partnership  and the  Partnership's  investments  in Local
Limited  Partnerships  and their Housing  Complexes are subject to risks.  These
risks may impact the tax benefits of an investment in the  Partnership,  and the
amount of proceeds  available for distribution to the Limited Partners,  if any,
on liquidation of the Partnership's investments. Some of those risks include the
following:

The  Low-Income  Housing Credit rules are extremely  complicated.  Noncompliance
with these rules results in the loss of future  Low-Income  Housing  Credits and
the  fractional  recapture of  Low-Income  Housing  Credits  already  taken.  An
individual  Limited  Partner's  ability to use tax credits is  limited.  In most
cases,  the  annual  amount of Low Income  Housing  Credits  that an  individual
Limited Partner can use is limited to the tax liability due on the person's last
$25,000 of taxable  income.  Low Income Housing Credits may be the only material
benefit from the  Partnership  because  Limited  Partners may not get back their
capital.  Any  transactions  between  the  Partnership  and  Associates  and its
affiliates will entail conflicts of interest.

The Partnership has invested in a limited number of Local Limited  Partnerships.
Such  limited  diversity  means that the  results of  operation  of each  single
Housing  Complex  will have a greater  impact on the  Partnership.  With limited
diversity,   poor   performance   of  one  Housing   Complex  could  impair  the
Partnership's ability to satisfy its investment objectives. Each Housing Complex
is subject to mortgage  indebtedness.  If a Local Limited  Partnership failed to
pay its  mortgage,  it  could  lose  its  Housing  Complex  in  foreclosure.  If
foreclosure  were to occur during the first 15 years,  the loss of any remaining
future  Low-Income  Housing  Credits,   and  a  fractional  recapture  of  prior
Low-Income  Housing Credits would occur. At any time, a foreclosure would result
in  a  loss  of  the  Partnership's  investment  in  the  Housing  Complex.  The
Partnership is a limited  partner or  non-managing  member of each Local Limited
Partnership.  Accordingly,  the Partnership has very limited rights with respect
to management  of the Local  Limited  Partnerships.  The  Partnership  will rely
totally on the Local General Partners.  Neither the Partnership's investments in
Local Limited Partnerships,  nor the Local Limited Partnerships'  investments in
Housing  Complexes,  will be  readily  marketable.  To the  extent  the  Housing
Complexes  receive  government  financing  or operating  subsidies,  they may be
subject to one or more of the following risks: difficulties in obtaining tenants
for the Housing Complexes; difficulties in obtaining rent increases; limitations
on cash distributions; limitations on sales or refinancing of Housing Complexes;
limitations on transfers of interests in Local Limited Partnerships; limitations
on removal of Local  General  Partners;  limitations  on subsidy  programs;  and
possible changes in applicable regulations. Uninsured casualties could result in
loss of property and  Low-Income  Housing  Credits and  recapture of  Low-Income
Housing Credits  previously  taken. The value of real estate is subject to risks
from fluctuating  economic conditions,  including  employment rates,  inflation,
tax, environmental,  land use and zoning policies,  supply and demand of similar
properties, and neighborhood conditions, among others.

The  ability of Limited  Partners to claim tax losses  from the  Partnership  is
limited.  The IRS may audit the  Partnership or a Local Limited  Partnership and
challenge  the tax  treatment  of tax items.  The amount of  Low-Income  Housing
Credits and tax losses allocable to the limited partners could be reduced if the
IRS were  successful  in such a  challenge.  The  alternative  minimum tax could
reduce tax benefits from an investment in the  Partnership.  Changes in tax laws
could also impact the tax benefits from an investment in the Partnership  and/or
the value of the Housing Complexes.

There are limits on the transferability of units, including a prohibition on the
transfer of more than 50% of the Units in a 12-month  period.  No trading market
for the Units exists or is expected to develop.  Limited  Partners may be unable
to sell their Units except at a discount and should consider their Units to be a
long-term investment.  Individual Limited Partners will have no recourse if they
disagree with actions authorized by a vote of the majority of Limited Partners.


                                       4

<PAGE>

Exit Strategy

The IRS  compliance  period for  low-income  housing  tax credit  properties  is
generally  15  years  following   construction  or  rehabilitation   completion.
Associates was one of the first in the industry to offer syndicated  investments
in Low Income  Housing  Credits.  The  initial  programs  are  completing  their
compliance periods.

With that in mind, the Partnership is continuing its review of the Partnership's
holdings,  with special emphasis on the more mature  properties such as any that
have  satisfied  the IRS  compliance  requirements.  The review  considers  many
factors,  including extended use requirements on the property (such as those due
to mortgage restrictions or state compliance  agreements),  the condition of the
property,  and the tax consequences to the Limited Partners from the sale of the
property.

Upon identifying  those  properties with the highest  potential for a successful
sale,  refinancing  or  syndication,  the  Partnership  expects to proceed  with
efforts to liquidate those properties.  The objective is to maximize the Limited
Partners' return wherever possible and, ultimately, to wind down the Partnership
when it no longer  provides tax  benefits to Limited  Partners.  However,  Local
Limited  Partnership  interests may be disposed at any time by Associates in its
discretion.  To date no  properties  in the  Partnership  have been selected for
disposition.

Item 2. Properties

Through its investments in Local Limited  Partnerships,  the  Partnership  holds
indirect  ownership  interests in the Housing  Complexes.  The  following  table
reflects the status of the three  Housing  Complexes as of the dates and for the
periods indicated:




                                       5

<PAGE>



<TABLE>
<CAPTION>
                                                        ----------------------------  ----------------------------------------------
                                                           As of March 31, 2004                   As of December 31, 2003
                                                        ----------------------------  ----------------------------------------------
                                                          Partnership's    Amount of                      Estimated         Mortgage
                                                         Total Investment  Investment                   Aggregate Low    Balances of
   Local Limited                       General Partner   in Local Limited  Paid to     Number          Income Housing  Local Limited
  Partnership Name        Location       Name               Partnership     Date     of Units  Occupancy   Credits (1)  Partnerships
------------------------------------------------------------------------------------------------------------------------------------
<S>                       <C>           <C>             <C>            <C>              <C>      <C>     <C>             <C>
Catoosa Senior            Calhoun,       BC Holdings,
Village, L.P.             Georgia        LLC            $   1,997,000  $   1,579,000     60      100%    $ 2,663,000     $ 2,382,000

Humboldt                  Winnemucca,    Humboldt
Village, L.P.             Nevada         Village, LLC       1,754,000        350,000     38       **              **              **

Melodie Meadows           Glencoe,       Eagle Creek
Associates, Ltd.          Alabama        Partners           1,569,000      1,568,000     40      100%      2,135,000       1,243,000
                                                        -------------  -------------    ----     ----    -----------     -----------

                                                        $   5,320,000  $   3,497,000    138      100%    $ 4,798,000     $ 3,625,000
                                                        =============  =============    ====     ====    ===========     ===========
</TABLE>


(1)  Represents aggregate  anticipated Low Income Housing Credits to be received
     over the 10 year credit period if Housing Complexes are retained and rented
     in compliance with credit rules for the 15-year compliance period.

** The Local Limited Partnership was not acquired until February 2004.


                                       6
<PAGE>

<TABLE>
<CAPTION>


                                       -------------------------------------------------------------
                                                  For the year ended December 31, 2003
                                       -------------------------------------------------------------
                                                                                  Low Income
                                                                                 Housing Credits
                                                                                  Allocated to
           Partnership Name                Rental Income          Net Loss         Partnership
----------------------------------------------------------------------------------------------------
<S>                                                <C>            <C>                      <C>
Catoosa Senior Village, L.P.                       $  89,000      $   (39,000)             99.98%

Humboldt Village, L.P.                                    **               **              99.98%

Melodie Meadows Associates, Ltd.                      89,000          (64,000)             99.98%
                                                   ----------     -----------

                                                   $ 178,000      $  (103,000)
                                                   ==========     ===========
</TABLE>

** The Local Limited Partnership was not acquired until February 2004.






                                       7
<PAGE>




Item 3.  Legal Proceedings

None

Item 4.  Submission of Matters to a Vote of Security Holders

None

PART II.

Item 5. Market for Registrant's  Common Equity,  Related Stockholder Matters and
Issuer Purchases of Equity Securities

Item 5a.

(a)  The  Units  are not  traded on a public  exchange  but were sold  through a
     public offering.  It is not anticipated that any public market will develop
     for the  purchase  and  sale of any  Unit and  none  exists.  Units  can be
     assigned  only if certain  requirements  in the  Partnership  Agreement are
     satisfied.

(b)  At March 31, 2004, there were 628 Limited Partners and 2 assignees of Units
     who were not admitted as Limited Partners.

(c)  The  Partnership is not designed to provide cash  distributions  to Limited
     Partners in  circumstances  other than  refinancing  or  disposition of its
     investments in Local Limited Partnerships.  Any such distributions would be
     made in accordance with the terms of the Partnership Agreement

(d)  No securities are authorized for issuance by the  Partnership  under equity
     compensation plans.

(e)  No unregistered  securities  were sold by the  Partnership  during the year
     ended March 31, 2004.

Item 5b. Use of Proceeds

The  Partnership  conducted  an offering  pursuant to a  registration  statement
(Commission File No.  333-67670),  which was declared  effective on November 14,
2001.  As of March 31, 2004,  the  Partnership  had received  subscriptions  for
15,325 Units, for an aggregate  amount of capital  contributions of $13,119,270,
net of dealer discounts of $31,220 and volume discounts of $2,510.  At March 31,
2004,  approximately  $1,673,000  was paid or due to  Associates  or WNC Capital
Corporation,  the  dealer-manager  for the  offering,  for selling  commissions,
wholesaling  activites and in reimbursement  of other  organization and offering
expenses.  Included therein are selling  commissions of  approximately  $883,000
which  were  paid  or were to be paid to  non-affiliates.  At  March  31,  2004,
approximately  $10,263,000  is  invested  or  available  to be invested in Local
Limited Partnership Interests or Reserves as follows:
<TABLE>
<CAPTION>


                                                            Paid or to be
                                                               Paid to         Paid or to be
                                                              Affiliates       Paid to Others          Total
                                                            ---------------    ---------------     ---------------

<S>                                                       <C>                <C>                 <C>
Acquisition Fees through 3/31/2004                        $        921,000   $              -    $        921,000
Acquisition Costs through 3/31/2004                                263,000                  -             263,000
Cash invested or available to be invested or revenues                    -         10,263,000          10,263,000
                                                            ---------------    ---------------     ---------------

Total                                                     $      1,184,000   $     10,263,000    $     11,447,000
                                                            ===============    ===============     ===============
</TABLE>



                                       8
<PAGE>



Item 5c. Purchases of Equity Securities by the Issuer and Affiliated Purchasers

NONE

Item 6.  Selected Financial Data

Selected balance sheet information for the Partnership is as follows:
<TABLE>
<CAPTION>

                                                                                       March 31
                                                                          -----------------------------------
                                                                               2004                2003
                                                                          ---------------     ---------------

<S>                                                                     <C>                 <C>
ASSETS

Cash and cash equivalents                                               $      6,649,763    $          1,100
Interest receivable                                                                  108                   -
Investments in limited partnerships, net                                       6,425,082                   -
                                                                          ---------------     ---------------

                                                                        $     13,074,953    $          1,100
                                                                          ===============     ===============
LIABILITIES

Payables to limited partnerships                                        $      1,822,497    $              -
Accrued fees and expenses due to
  general partner and affiliates                                                  29,535                   -

PARTNERS' EQUITY                                                              11,222,921               1,100
                                                                          ---------------     ---------------

                                                                        $     13,074,953    $          1,100
                                                                          ===============     ===============
</TABLE>
<TABLE>
<CAPTION>
Selected  results of  operations,  cash  flows,  and other  information  for the Partnership are as follows:

                                                                                              For the period
                                                                                                   from
                                                                                               February 28,
                                                                                                2003 (date
                                                                         For the Year           operations
                                                                            Ended             commenced) to
                                                                        March 31, 2004        March 31, 2003
                                                                       -----------------     -----------------
<S>                                                                  <C>                   <C>
Loss from operations                                                 $          (60,828)   $                -
Equity in losses of limited partnerships                                       (128,146)                    -
                                                                       -----------------     -----------------

Net loss                                                                       (188,974)                    -
                                                                       =================     =================

Net loss allocated to:
  General partner                                                    $             (189)   $                -
                                                                       =================     =================

  Limited partners                                                   $         (188,785)   $                -
                                                                       =================     =================

Net loss  per limited partner
  unit                                                               $           (22.97)   $                -
                                                                       =================     =================

Outstanding weighted limited
  partner units                                                                   8,220                     -
                                                                       =================     =================
</TABLE>

                                       9
<PAGE>

<TABLE>
<CAPTION>
                                                                                                      For the period
                                                                                                    from February 28,
                                                                                                        2003 (date
                                                                                   For the              operations
                                                                                 Year Ended           commenced) to
                                                                                March 31, 2004        March 31, 2003
                                                                                ---------------      ------------------

<S>                                                                             <C>                  <C>
Net cash provided by (used in):
  Operating activities                                                          $       (7,273)      $               -
  Investing activities                                                              (4,754,859)                      -
  Financing activities                                                              11,410,795                       -
                                                                                  -------------        ----------------

Net increase/(decrease) in cash and cash
  equivalents                                                                        6,648,663                       -

Cash and cash equivalents,
  beginning of period                                                                    1,100                   1,100
                                                                                  -------------        ----------------

Cash and cash equivalents, end
  of period                                                                     $    6,649,763       $           1,100
                                                                                  =============        ================

Low Income Housing Credits per Unit were as follows for the year and period ended December 31:

                                                                                       2003                2002
                                                                                  ---------------     ----------------

Federal                                                                         $             20    $               -
State                                                                                          -                    -
                                                                                  ---------------     ----------------

Total                                                                           $             20    $               -
                                                                                  ===============     ================
</TABLE>

Item 7. Management's  Discussion and Analysis of Financial Condition and Results
        of Operations

Forward Looking Statements

With  the  exception  of  the  discussion  regarding   historical   information,
"Management's  Discussion  and  Analysis of Financial  Condition  and Results of
Operations"  and other  discussions  elsewhere in this Form 10-K contain forward
looking statements. Such statements are based on current expectations subject to
uncertainties  and other  factors which may involve known and unknown risks that
could  cause  actual  results  of  operations  to differ  materially  from those
projected or implied. Further, certain forward-looking statements are based upon
assumptions about future events which may not prove to be accurate.

Risks and uncertainties  inherent in forward looking statements include, but are
not  limited  to,  our  future  cash  flows and  ability  to  obtain  sufficient
financing, level of operating expenses, conditions in the low-income housing tax
credit property market and the economy in general, as well as legal proceedings.
Historical  results are not necessarily  indicative of the operating results for
any future period.

Subsequent  written and oral forward  looking  statements  attributable to us or
persons  acting on our behalf  are  expressly  qualified  in their  entirety  by
cautionary  statements  in this Form 10-K and in other reports we filed with the
Securities and Exchange  Commission.  The following discussion should be read in
conjunction  with  the  Financial  Statements  and the  Notes  thereto  included
elsewhere in this filing.



                                       10
<PAGE>



Critical Accounting Policies and Certain Risks and Uncertainties

The  Partnership  believes  that the  following  discussion  addresses  its most
significant  accounting  policies,  which are the most  critical to aid in fully
understanding and evaluating the Partnership's  reported financial results,  and
certain of the Partnership's risks and uncertainties.

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 revenues and expenses
during the reporting  period.  Actual results could materially differ from those
estimates.

Method of Accounting for Investments in Limited Partnerships

The Partnership  accounts for its investments in limited  partnerships using the
equity method of  accounting,  whereby the  Partnership  adjusts its  investment
balance for its share of the Local Limited  Partnerships'  results of operations
and for any  contributions  made and  distributions  received.  The  Partnership
reviews the  carrying  amount of an  individual  investment  in a Local  Limited
Partnership for possible  impairment whenever events or changes in circumstances
indicate that the carrying  amount of such  investment  may not be  recoverable.
Recoverability  of such investment is measured by the estimated value derived by
management,  generally  consisting  of  the  product  of  the  remaining  future
Low-Income  Housing Credits estimated to be allocable to the Partnership and the
estimated  residual value to the Partnership.  If an investment is considered to
be impaired, the Partnership reduces the carrying value of its investment in any
such Local Limited  Partnership.  The  accounting  policies of the Local Limited
Partnerships,  generally,  are  expected  to be  consistent  with  those  of the
Partnership.  Costs incurred by the Partnership in acquiring the investments are
capitalized  as part of the investment  account and are being  amortized over 30
years (Notes 2 and 3).

Equity in losses of limited  partnerships for each year ended March 31 have been
recorded by the Partnership based on nine months of reported results provided by
the Local  Limited  Partnerships  for each year ended  December  31 and on three
months of results  estimated  by  management  of the  Partnership.  Management's
estimate for the three-month  period is based on either actual unaudited results
reported  by  the  Local  Limited  Partnerships  or  historical  trends  in  the
operations  of the Local Limited  Partnerships.  Equity in losses from the Local
Limited  Partnerships  allocated to the  Partnership  are not  recognized to the
extent that the investment  balance would be adjusted below zero. As soon as the
investment balance reaches zero,  amortization of the related costs of acquiring
the investment are accelerated to the extent of losses available.

Distributions  received from the Local Limited Partnerships are accounted for as
a  reduction  of  the  investment  balance.  Distributions  received  after  the
investment  has reached  zero are  recognized  as income.  If the Local  Limited
Partnerships  report net income in future  year,  the  Partnership  will  resume
applying  the equity  method only after its share of such net income  equals the
share of net losses not  recognized  during the  period(s) the equity method was
suspended.

Income Taxes

No provision for income taxes has been  recorded in the financial  statements as
any  liability  and/or  benefits  for income  taxes flows to the partners of the
Partnership and is their obligation and/or benefit.  For income tax purposes the
Partnership reports on a calendar year basis.

Certain Risks and Uncertainties

An investment in the  Partnership  and the  Partnership's  investments  in Local
Limited  Partnerships  and their Housing  Complexes are subject to risks.  These
risks may impact the tax benefits of an investment in the  Partnership,  and the
amount of proceeds  available for distribution to the Limited Partners,  if any,
on liquidation of the Partnership's investments. Some of those risks include the
following:


                                       11
<PAGE>

The  Low-Income  Housing Credit rules are extremely  complicated.  Noncompliance
with these rules results in the loss of future  Low-Income  Housing  Credits and
the fractional  recapture of Low-Income  Housing  Credits already taken. In most
cases the annual amount of Low-Income Housing Credits that an individual can use
is limited to the tax  liability  due on the  person's  last  $25,000 of taxable
income.  The  Local  Limited  Partnerships  may be  unable  to sell the  Housing
Complexes at a profit. Accordingly,  the Partnership may be unable to distribute
any cash to its limited  partners.  Low-Income  Housing  Credits may be the only
benefit from an investment in the Partnership.

The Partnership has invested in a limited number of Local Limited  Partnerships.
Such  limited  diversity  means that the  results of  operation  of each  single
Housing  Complex  will have a greater  impact on the  Partnership.  With limited
diversity,   poor   performance   of  one  Housing   Complex  could  impair  the
Partnership's ability to satisfy its investment objectives. Each Housing Complex
is subject to mortgage  indebtedness.  If a Local Limited  Partnership failed to
pay its  mortgage,  it  could  lose  its  Housing  Complex  in  foreclosure.  If
foreclosure  were to occur during the first 15 years,  the loss of any remaining
Low-Income Housing Credits,  a fractional  recapture of prior Low-Income Housing
Credits, and a loss of the Partnership's investment in the Housing Complex would
occur. The Partnership is a limited partner or non-managing member of each Local
Limited Partnership.  Accordingly,  the Partnership has very limited rights with
respect to management of the Local Limited  Partnerships.  The Partnership  will
rely  totally  on  the  Local  General   Partners.   Neither  the  Partnership's
investments in Local Limited  Partnerships,  nor the Local Limited Partnerships'
investments  in Housing  Complexes,  are readily  marketable.  To the extent the
Housing Complexes receive government financing or operating subsidies,  they may
be subject to one or more of the  following  risks:  difficulties  in  obtaining
tenants for the Housing  Complexes;  difficulties  in obtaining rent  increases;
limitations  on cash  distributions;  limitations  on  sales or  refinancing  of
Housing  Complexes;  limitations  on transfers  of  interests  in Local  Limited
Partnerships;  limitations on removal of Local General Partners;  limitations on
subsidy  programs;  and possible  changes in applicable  regulations.  Uninsured
casualties  could result in loss of property and Low-Income  Housing Credits and
recapture of Low-Income  Housing  Credits  previously  taken.  The value of real
estate is subject  to risks  from  fluctuating  economic  conditions,  including
employment rates, inflation,  tax, environmental,  land use and zoning policies,
supply and demand of similar  properties,  and  neighborhood  conditions,  among
others.

The  ability of Limited  Partners to claim tax losses  from the  Partnership  is
limited.  The IRS may audit the  Partnership or a Local Limited  Partnership and
challenge  the tax  treatment  of tax items.  The amount of  Low-Income  Housing
Credits and tax losses allocable to the limited partners could be reduced if the
IRS were  successful  in such a  challenge.  The  alternative  minimum tax could
reduce tax benefits from an investment in the  Partnership.  Changes in tax laws
could also impact the tax benefits from an investment in the Partnership  and/or
the value of the Housing Complexes.

No trading  market  for the Units  exists or is  expected  to  develop.  Limited
partners  may be unable to sell  their  Units  except at a  discount  and should
consider their Units to be a long-term  investment.  Individual limited partners
will have no recourse if they disagree with actions  authorized by a vote of the
majority of Limited Partners.

To date, certain Local Limited Partnerships have incurred significant  operating
losses and have working capital  deficiencies.  In the event these Local Limited
Partnerships continue to incur significant operating losses,  additional capital
contributions  by the  Partnership  and/or  the  Local  General  Partner  may be
required  to sustain  the  operations  of such Local  Limited  Partnerships.  If
additional  capital  contributions  are not made  when  they are  required,  the
Partnership's  investment in certain of such Local Limited Partnerships could be
impaired, and the loss and recapture of the related tax credits could occur.

Financial Condition

The Partnership's  assets at March 31, 2004 consisted primarily of $6,650,000 in
cash,  $100 in interest  receivable,  aggregate  investments  in the three Local
Limited  Partnerships of $6,425,000.  Liabilities at March 31, 2004 consisted of
$30,000 in advances and other payables due to the General  Partner or affiliates
and $1,822,000 in contributions payable to limited partnerships.

The Partnership  offered Units for sale to the public until November 11, 2003 at
which time total limited partner capital of $13,119,270 net of dealer and volume
discounts of $33,730 was raised.


                                       12
<PAGE>


Results of Operations

Year  Ended  March 31,  2004  Compared  to Period  Ended  March  31,  2003.  The
Partnership  commenced operations on February 28, 2003.  Therefore,  as of March
31, 2003, the Partnership had not accepted  subscriptions for any Units nor made
any  investments  in  Local  Limited  Partnerships.  As a result  there  were no
operations  for the period  ended March 31,  2003.  In  addition,  there were no
Low-Income Housing Credits available for allocation to the partners.

The two periods are not comparable, as there was no operations during the period
ended March 31, 2003.

Liquidity and Capital Resources

Year  Ended  March 31,  2004  Compared  to Period  Ended  March  31,  2003.  The
Partnership  had no cash flows from  operating or investing  activities  for the
period ended March 31, 2003. As such, the two periods are not comparable.

The Partnership  expects its future cash flows,  together with its net available
assets at March 31, 2004, to be  sufficient  to meet all  currently  foreseeable
future cash  requirements.  This  excludes  amounts  owed to  Associates  by the
Partnership disclosed below.

<TABLE>
<CAPTION>
Future Contractual Cash Obligations

The following table  summarizes our future  contractual  cash  obligations as of March 31, 2004:

                                    2005         2006        2007        2008        2009      Thereafter     Total

                                  ----------   ----------  ----------  ----------  ---------  ------------  -----------

<S>                             <C>          <C>         <C>         <C>         <C>        <C>           <C>
Asset Management Fees           $   107,325  $    80,108 $    80,108 $    80,108 $   80,108 $   4,245,724 $  4,673,481
Capital Contributions Payable
   to Lower Tier Partnerships     1,822,497            -           -           -          -             -    1,822,497
                                  ----------   ----------  ----------  ----------  ---------  ------------  -----------
Total contractual cash
   obligations                  $ 1,929,822  $    80,108 $    80,108 $    80,108 $   80,108 $   4,245,724 $  6,495,978
                                  ==========   ==========  ==========  ==========  =========  ============  ===========
</TABLE>
(1)  Asset  Management  Fees  are  payable  annually  until  termination  of the
     Partnership, which is to occur no later than 2062. The estimate of the fees
     payable included herein assumes the retention of the Partnership's interest
     in all Housing Complexes until 2062.  Amounts due to the General Partner as
     of March 31, 2004 have been included in the 2005 column.

For   additional   information  on  our  Asset   Management   Fees  and  Capital
Contributions  Payable  to Lower  Tier  Partnerships,  see  Notes 3 and 5 to the
financial statements included elsewhere herein.

Off-Balance Sheet Arrangements

The Partnership has no off-balance sheet arrangements.

Exit Strategy

The IRS  compliance  period for  low-income  housing  tax credit  properties  is
generally  15 years from  occupancy  following  construction  or  rehabilitation
completion.  WNC was one of the first in the industry to offer investments using
the tax credit.  Now these very first programs are completing  their  compliance
period.


                                       13
<PAGE>

With that in mind,  we will  review the  Partnership's  holdings,  with  special
emphasis on the more mature  properties  including those that have satisfied the
IRS  compliance  requirements.  Our review will consider many factors  including
extended  use  requirements  on the  property  (such  as those  due to  mortgage
restrictions or state compliance agreements), the condition of the property, and
the tax consequences to the limited partners from the sale of the property.

Upon identifying  those  properties with the highest  potential for a successful
sale, refinancing or syndication, we expect to proceed with efforts to liquidate
those  properties.  Our  objective is to maximize the limited  partners'  return
wherever  possible  and,  ultimately,  to wind down  those  funds that no longer
provide  tax  benefits  to  limited  partners.  To  date  no  properties  in the
Partnership have been selected.

Impact of New Accounting Pronouncements

In January 2003, the FASB issued Interpretation No. 46 ("FIN46"), "Consolidation
of  Variable  Interest  Entities."  FIN 46  provides  guidance on when a company
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 absorbs the  majority of the entity's
expected losses, the majority of the expected returns, or both.

In  December  2003,  the FASB issued a revision of FIN 46 ("FIN 46R") to clarify
some of its provisions.  The revision results in multiple  effective dates based
on the  nature  as well as the  creation  date of the VIE.  VIEs  created  after
January 31,  2003,  but prior to January 1, 2004,  may be  accounted  for either
based on the original interpretations or the revised  interpretations.  However,
all VIEs must be accounted for under the revised interpretations as of March 31,
2004, when FIN 46R is effective for the Partnership.

This  Interpretation  would require  consolidation by the Partnership of certain
Local Limited  Partnerships' assets and liabilities and results of operations if
the Partnership determined that the Local Limited Partnership was a VIE and that
the  Partnership  was  the  "Primary  Beneficiary."  Minority  interests  may be
recorded for the Local Limited  Partnerships'  ownership  share  attributable to
other Limited Partners. Where consolidation of Local Limited Partnerships is not
required,   additional  financial  information   disclosures  of  Local  Limited
Partnerships  may be  required.  The  Partnership  has  assessed  the  potential
consolidation effects of the Interpretation and preliminarily concluded that the
adoption of the Interpretation  will not have a material impact on the financial
statements of the Partnership.

Item 7A.  Quantitative and Qualitative Disclosures About Market Risk

NONE.

Item 8.  Financial Statements and Supplementary Data




                                       14
<PAGE>


             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Partners
WNC Housing Tax Credit Fund VI, L.P., Series 10

     We have audited the  accompanying  balance  sheet of WNC Housing Tax Credit
Fund VI, L.P., Series 10 (a California Limited  Partnership) (the "Partnership")
as of March 31, 2004 and the related statements of operations,  partners' equity
and cash  flows for the year then  ended.  These  financial  statements  are the
responsibility of the Partnership's management. Our responsibility is to express
an opinion on these  financial  statements  based on our  audit.  A  significant
portion of the  financial  statements of the limited  partnerships  in which the
Partnership  is a limited  partner were audited by other  auditors whose reports
have been  furnished to us. As discussed in note 2 to the financial  statements,
the Partnership  accounts for its investments in limited  partnerships using the
equity  method.   The  portion  of  the  Partnership's   investment  in  limited
partnerships  audited  by other  auditors  represented  $3,045,804  of the total
assets of the  Partnership  at March 31, 2004 and $102,514 of the  Partnership's
equity in losses of limited  partnerships for the year ended March 31, 2004. Our
opinion,  insofar  as it  relates  to the  amounts  included  in  the  financial
statements for the limited  partnerships  which were audited by others, is based
solely on the reports of the other auditors.

     We  conducted  our audit in  accordance  with the  standards  of the Public
Company Accounting Oversight Board (United States). Those standards require that
we plan and perform the audit to obtain  reasonable  assurance about whether the
financial  statements  are free of  material  misstatement.  An  audit  includes
examining,  on a test basis,  evidence supporting the amounts and disclosures in
the  financial  statements.  An audit also  includes  assessing  the  accounting
principles  used  and  significant  estimates  made  by  management,  as well as
evaluating the overall  financial  statement  presentation.  We believe that our
audit and the reports of the other auditors  provide a reasonable  basis for our
opinion.

     In our opinion,  based on our audit and the reports of the other  auditors,
the  financial  statements  referred to above  present  fairly,  in all material
respects, the financial position of WNC Housing Tax Credit Fund VI, L.P., Series
10 (a California  Limited  Partnership) as of March 31, 2004, and the results of
its  operations  and its cash flows for the year then ended in  conformity  with
accounting principles generally accepted in the United States of America.



/s/ Reznick, Fedder & Silverman

Bethesda, Maryland
June 23, 2004




                                       15
<PAGE>





             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
             -------------------------------------------------------


To the Partners
WNC Housing Tax Credit Fund VI, L.P., Series 10


We have audited the  accompanying  balance  sheet of WNC Housing Tax Credit Fund
VI, L.P., Series 10 (a California Limited Partnership) (the "Partnership") as of
March 31, 2003, and the related  statements of operations,  partners' equity and
cash flows for the period February 28, 2003 (date operations  commenced) through
March  31,  2003.  These  financial  statements  are the  responsibility  of the
Partnership's  management.  Our responsibility is to express an opinion on these
financial statements based on our audit.

We conducted  our audit in accordance  with the standards of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audit  provides  a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly in all
material  respects,  the  financial  position of WNC Housing Tax Credit Fund VI,
L.P., Series 10 (a California Limited Partnership) as of March 31, 2003, and the
results of its  operations  and its cash flows for the period  February 28, 2003
(date operations commenced) through March 31, 2003 in conformity with accounting
principles generally accepted in the United States of America.





                                              /S/ BDO SEIDMAN, LLP


Costa Mesa, California
May 20, 2003




                                       16
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                                 BALANCE SHEETS




<TABLE>
<CAPTION>

                                                                                            March 31,
                                                                                   -----------------------------
                                                                                       2004           2003
                                                                                   -------------  --------------
<S>                                                                              <C>            <C>
ASSETS

Cash and cash equivalents                                                        $    6,649,763 $         1,100
Interest receivable                                                                         108               -
Investments in limited partnerships (Notes 2 and 3)                                   6,425,082               -
                                                                                   -------------  --------------

                                                                                 $   13,074,953 $         1,100
                                                                                   =============  ==============

LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Liabilities:
   Payables to limited partnerships  (Note 5)                                    $    1,822,497 $             -
   Accrued fees and expenses due to General Partner
      and affiliates (Note 3)                                                            29,535               -
                                                                                   -------------  --------------

       Total liabilities                                                              1,852,032               -
                                                                                   -------------  --------------

Commitments and contingencies

Partners' equity (deficit)
   General partner                                                                          (89)            100
   Limited partners (25,000 units authorized, 13,153 and 0 units
       Outstanding at March 31, 2004 and 2003, respectively)                         11,223,010           1,000
                                                                                   -------------  --------------

     Total partners' equity                                                          11,222,921           1,100
                                                                                   -------------  --------------

                                                                                 $   13,074,953 $         1,100
                                                                                   =============  ==============
</TABLE>

                 See accompanying notes to financial statements
                                       17
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                            STATEMENTS OF OPERATIONS

                      For the Year Ended March 31, 2004 and
          For the Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

<TABLE>
<CAPTION>



                                                                                                      For The Period
                                                                                                       February 28,
                                                                                                        2003 (Date
                                                                                                        Operations
                                                                                   For the Year         Commenced)
                                                                                   Ended March          through
                                                                                     31, 2004           March 31, 2003
                                                                                 -----------------   -----------------

<S>                                                                            <C>                 <C>
Interest income                                                                $            6,203  $                 -
                                                                                 -----------------   -----------------
Operating expenses:
    Amortization (Notes 2 and 3)                                                           24,128                   -
    Asset management fees (Note 3)                                                         27,168                   -
    Legal and accounting                                                                   10,445                   -
    Other                                                                                   5,290                   -
                                                                                 -----------------   -----------------

      Total operating expenses                                                             67,031                   -
                                                                                 -----------------   -----------------

Loss from operations                                                                      (60,828)                  -
                                                                                 -----------------   -----------------

Equity in losses of limited partnerships (Note 2)                                        (128,146)                  -
                                                                                 -----------------   -----------------

Net loss                                                                       $         (188,974) $                -
                                                                                 =================   =================

Net income (loss) allocated to:
   General partner                                                             $             (189) $                -
                                                                                 =================   =================
   Limited partners                                                            $         (188,785) $                -
                                                                                 =================   =================
Net loss per limited partner unit                                              $           (22.97) $                -
                                                                                 =================   =================

Outstanding weighted limited partner units                                                  8,220                   0
                                                                                 =================   =================
</TABLE>

                 See accompanying notes to financial statements
                                       18
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    STATEMENTS OF PARTNERS' EQUITY (DEFICIT)

                        For The Year Ended March 31, 2004
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

<TABLE>
<CAPTION>

                                                               General            Limited
                                                               Partner            Partners             Total
                                                            ---------------    ---------------     ---------------

<S>                                                       <C>                <C>                <C>
Contribution from General Partner and initial
   limited partner                                        $            100   $         1,000    $          1,100
                                                            ---------------    ---------------     ---------------

Partners' equity at March 31, 2003                                     100             1,000               1,100

Sale of limited partnership units (net of discounts
   of $33,730)                                                           -        13,083,455          13,083,455

Offering expenses                                                        -        (1,672,660)         (1,672,660)

Net loss                                                              (189)         (188,785)           (188,974)
                                                            ---------------     --------------     ---------------

Partners' equity (deficit) at March 31, 2004              $            (89)  $    11,223,010    $     11,222,921
                                                            ===============     ==============     ===============
</TABLE>


                 See accompanying notes to financial statements
                                       19
<PAGE>






                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                      For the Year Ended March 31, 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003


<TABLE>
<CAPTION>

                                                                                                      For The Period
                                                                                                       February 28,
                                                                                                        2003 (Date
                                                                                                        Operations
                                                                                   For the Year         Commenced)
                                                                                   Ended March 31,      through
                                                                                        2004            March 31, 2003
                                                                               ------------------     -----------------
<S>                                                                          <C>                   <C>
Cash flows from operating activities:
    Net loss                                                                 $          (188,974)  $                 -
    Adjustments to reconcile net income (loss) to
     net cash provided by (used in) operating activities:
     Amortization                                                                         24,128                     -
     Equity in losses of limited partnerships                                            128,146                     -
     Change in interest receivable                                                          (108)                    -
     Change in due to general partner and affiliates                                      29,535                     -
                                                                               ------------------     -----------------

Net cash used in operating activities                                                     (7,273)                    -
                                                                               ------------------     -----------------

Cash flows from investing activities:
   Investments in limited partnerships, net                                           (3,498,014)                    -
   Capitalized acquisition costs and fees                                             (1,256,845)                    -
                                                                               ------------------     -----------------

Net cash used in investing activities                                                 (4,754,859)                    -
                                                                               ------------------     -----------------

Cash flows from financing activities:
   Capital contributions received                                                     13,083,455                     -
   Offering expenses                                                                  (1,672,660)                    -
                                                                               ------------------     -----------------

Net cash provided by financing activities                                             11,410,795                     -
                                                                               ------------------     -----------------

Net increase in cash and cash
  equivalents                                                                          6,648,663                     -

Cash and cash equivalents, beginning of period                                             1,100                 1,100
                                                                               ------------------     -----------------

Cash and cash equivalents, end of period                                     $         6,649,763   $             1,100
                                                                               ==================     =================

SUPPLEMENTAL DISCLOSURE OF
   CASH FLOW INFORMATION
   Taxes paid                                                                $               800    $                -
                                                                               ==================     =================
</TABLE>

                 See accompanying notes to financial statements
                                       20
<PAGE>


                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                      For the Year Ended March 31, 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003


NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
--------------------------------------------------------------------

Organization
------------

WNC  Housing  Tax  Credit  Fund  VI,  L.P.,  Series  10,  a  California  Limited
Partnership (the  "Partnership"),  was formed on July 17, 2001 under the laws of
the state of  California,  and commenced  operations  on February 28, 2003.  The
Partnership  was formed to invest  primarily in other limited  partnerships  and
limited  liability  companies (the "Local Limited  Partnerships")  which own and
operate multi-family housing complexes (the "Housing Complex") that are eligible
for  low-income  housing tax credits.  The local  general  partners  (the "Local
General Partners") of each Local Limited  Partnership retain  responsibility for
maintaining, operating and managing the Housing Complex.

The general partner of the Partnership is WNC & Associates,  Inc.  ("Associates"
or the "General  Partner".)  The chairman and the  president of  Associates  own
substantially  all of the outstanding  stock of Associates.  The initial limited
partner is an  affiliate  of  Associates.  The  business of the  Partnership  is
conducted primarily through  Associates,  as the Partnership has no employees of
its own.

The Partnership shall continue in full force and effect until December 31, 2062,
unless terminated prior to that date,  pursuant to the partnership  agreement or
law.

The financial  statements  include only activity relating to the business of the
Partnership,  and do not give  effect to any assets that the  partners  may have
outside of their interests in the Partnership, or to any obligations,  including
income taxes, of the partners.

The  Partnership  agreement  authorized the sale of up to 25,000 units at $1,000
per  Unit  ("Units").   As  of  March  31,  2004,  13,153  Units,   representing
subscriptions  in the amount of $13,119,270,  net of dealer discounts of $31,220
and volume  discounts of $2,510,  had been accepted.  The General  Partner has a
0.1% interest in operating  profits and losses,  taxable  income and losses,  in
cash  available  for  distribution  from the  Partnership  and tax credits.  The
limited partners will be allocated the remaining 99.9% interest in proportion to
their respective investments.

After the Limited  Partners  have received  proceeds from a sale or  refinancing
equal to their capital  contributions and their return on investment (as defined
in the  Partnership  Agreement)  and the General  Partner has received  proceeds
equal  to its  capital  contribution  and a  subordinated  disposition  fee  (as
described in Note 3) from the  remainder,  any  additional  sale or  refinancing
proceeds will be distributed 90% to the Limited Partners (in proportion to their
respective investments) and 10% to the General Partner.

Risks and Uncertainties
-----------------------

An investment in the  Partnership  and the  Partnership's  investments  in Local
Limited  Partnerships  and their Housing  Complexes are subject to risks.  These
risks may impact the tax benefits of an investment in the  Partnership,  and the
amount of proceeds  available for distribution to the Limited Partners,  if any,
on liquidation of the Partnership's investments. Some of those risks include the
following:

The Low Income  Housing  Credit rules are extremely  complicated.  Noncompliance
with these rules  results in the loss of future Low Income  Housing  Credits and
the fractional  recapture of Low Income Housing  Credits  already taken. In most
cases the annual amount of Low Income Housing Credits that an individual can use
is limited to the tax  liability  due on the  person's  last  $25,000 of taxable
income.  The  Local  Limited  Partnerships  may be  unable  to sell the  Housing
Complexes  at a price  which  would  result in the  Partnership  realizing  cash
distributions or proceeds from the transaction. Accordingly, the Partnership may
be unable to distribute  any cash to its limited  partners.  Low Income  Housing
Credits may be the only benefit from an investment in the Partnership.



                                       21
<PAGE>


                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                      For the Year Ended March 31, 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003


NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
-------------------------------------------------------------------------------

The Partnership has invested in a limited number of Local Limited  Partnerships.
Such  limited  diversity  means that the  results of  operation  of each  single
Housing  Complex  will have a greater  impact on the  Partnership.  With limited
diversity,   poor   performance   of  one  Housing   Complex  could  impair  the
Partnership's ability to satisfy its investment objectives. Each Housing Complex
is subject to mortgage  indebtedness.  If a Local Limited  Partnership failed to
pay its  mortgage,  it  could  lose  its  Housing  Complex  in  foreclosure.  If
foreclosure  were to occur during the first 15 years,  the loss of any remaining
Low Income Housing Credits,  a fractional  recapture of prior Low Income Housing
Credits, and a loss of the Partnership's investment in the Housing Complex would
occur. The Partnership is a limited partner or non-managing member of each Local
Limited Partnership.  Accordingly, the Partnership will have very limited rights
with respect to management of the Local Limited  Partnerships.  The  Partnership
will rely  totally on the Local  General  Partners.  Neither  the  Partnership's
investments in Local Limited  Partnerships,  nor the Local Limited Partnerships'
investments  in Housing  Complexes,  are readily  marketable.  To the extent the
Housing Complexes receive government financing or operating subsidies,  they may
be subject to one or more of the  following  risks:  difficulties  in  obtaining
tenants for the Housing  Complexes;  difficulties  in obtaining rent  increases;
limitations  on cash  distributions;  limitations  on  sales or  refinancing  of
Housing  Complexes;  limitations  on transfers  of  interests  in Local  Limited
Partnerships;  limitations on removal of Local General Partners;  limitations on
subsidy  programs;  and possible  changes in applicable  regulations.  Uninsured
casualties  could result in loss of property and Low Income Housing  Credits and
recapture of Low Income  Housing  Credits  previously  taken.  The value of real
estate is subject  to risks  from  fluctuating  economic  conditions,  including
employment rates, inflation,  tax, environmental,  land use and zoning policies,
supply and demand of similar  properties,  and  neighborhood  conditions,  among
others.

The  ability of Limited  Partners to claim tax losses  from the  Partnership  is
limited.  The IRS may audit the  Partnership or a Local Limited  Partnership and
challenge  the tax  treatment  of tax items.  The  amount of Low Income  Housing
Credits and tax losses allocable to the Limited Partners could be reduced if the
IRS were  successful  in such a  challenge.  The  alternative  minimum tax could
reduce tax benefits from an investment in the  Partnership.  Changes in tax laws
could also impact the tax benefits from an investment in the Partnership  and/or
the value of the Housing Complexes.

No trading  market  for the Units  exists or is  expected  to  develop.  Limited
Partners  may be unable to sell  their  Units  except at a  discount  and should
consider their Units to be a long-term  investment.  Individual  Limited Partnes
will have no recourse if they disagree with actions  authorized by a vote of the
majority of Limited Partners.

Exit Strategy
-------------

The IRS  compliance  period for  low-income  housing  tax credit  properties  is
generally  15 years from  occupancy  following  construction  or  rehabilitation
completion.  WNC was one of the first in the industry to offer investments using
the tax credit.  Now these very first programs are completing  their  compliance
period.

With that in mind, the Partnership will review the Partnership's  holdings, with
special  emphasis  on the more  mature  properties  including  those  that  have
satisfied  the  IRS  compliance  requirements.  The  Partnership's  review  will
consider many factors including  extended use requirements on the property (such
as those due to  mortgage  restrictions  or state  compliance  agreements),  the
condition of the property, and the tax consequences to the limited partners from
the sale of the property.

Upon identifying  those  properties with the highest  potential for a successful
sale,  refinancing  or  syndication,  the  Partnership  expects to proceed  with
efforts  to  liquidate  those  properties.  The  Partnership's  objective  is to
maximize the limited partners' return wherever possible and, ultimately, to wind
down those funds that no longer  provide tax  benefits to limited  partners.  To
date no properties in the Partnership have been selected.



                                       22
<PAGE>


                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                      For the Year Ended March 31, 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003



NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
-------------------------------------------------------------------------------

Method of Accounting for Investments in Limited Partnerships
------------------------------------------------------------

The Partnership  accounts for its investments in limited  partnerships using the
equity method of  accounting,  whereby the  Partnership  adjusts its  investment
balance for its share of the Local Limited  Partnerships'  results of operations
and for any  contributions  made and  distributions  received.  The  Partnership
reviews the  carrying  amount of an  individual  investment  in a Local  Limited
Partnership for possible  impairment whenever events or changes in circumstances
indicate that the carrying  amount of such  investment  may not be  recoverable.
Recoverability  of such investment is measured by the estimated value derived by
management,  generally  consisting  of  the  product  of  the  remaining  future
Low-Income  Housing Credits estimated to be allocable to the Partnership and the
estimated  residual value to the Partnership.  If an investment is considered to
be impaired, the Partnership reduces the carrying value of its investment in any
such Local Limited  Partnership.  The  accounting  policies of the Local Limited
Partnerships,  generally,  are  expected  to be  consistent  with  those  of the
Partnership.  Costs incurred by the Partnership in acquiring the investments are
capitalized  as part of the investment  account and are being  amortized over 30
years (see Notes 2 and 3).

Equity in losses of limited  partnerships for each year ended March 31 have been
recorded by the Partnership based on nine months of reported results provided by
the Local  Limited  Partnerships  for each year ended  December  31 and on three
months of results  estimated  by  management  of the  Partnership.  Management's
estimate for the three-month  period is based on either actual unaudited results
reported  by  the  Local  Limited  Partnerships  or  historical  trends  in  the
operations  of the Local Limited  Partnerships.  Equity in losses from the Local
Limited  Partnerships  allocated to the Partnership  are not recognized,  to the
extent that the investment  balance would be adjusted below zero. As soon as the
investment balance reaches zero,  amortization of the related costs of acquiring
the investment are  accelerated to the extent of losses  available (see Note 3).
If the Local  Limited  Partnerships  report  net  income in  future  years,  the
Partnership  will resume applying the equity method only after its share of such
net income  equals the share of net losses not  recognized  during the period(s)
the equity method was suspended

Distributions  received from the Local Limited Partnerships are accounted for as
a  reduction  of  the  investment  balance.  Distributions  received  after  the
investment balance has reached zero are recognized as income.

Offering Expenses
-----------------

Offering  expenses consist of underwriting  commissions,  legal fees,  printing,
filing and recordation fees, and other costs incurred in connection with selling
limited  partnership  interests  in the  Partnership.  The  General  Partner  is
obligated to pay all offering and organization costs in excess of 13% (excluding
sales  commissions  and the dealer manager fee) of the total offering  proceeds.
Offering expenses are reflected as a reduction of partners' capital and amounted
to $1,672,660 and $0 as of March 31, 2004 and 2003, respectively.

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 revenues and expenses
during the reporting  period.  Actual results could materially differ from those
estimates.

Cash and Cash Equivalents
-------------------------

The Partnership considers all highly liquid investments with original maturities
of three months or less when purchased to be cash  equivalents.  As of March 31,
2004 and 2003, the Partnership had no cash equivalents.



                                       23
<PAGE>


                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                      For the Year Ended March 31, 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003


NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
-------------------------------------------------------------------------------

Concentration of Credit Risk
----------------------------

At March 31, 2004, the Partnership maintained cash balances at certain financial
institutions in excess of the federally insured maximum.  The Partnership
believes that it is not exposed to any significant risk on cash.

Net Income Per Limited Partner Unit
-----------------------------------

Net income per limited  partner  unit is  calculated  pursuant to  Statement  of
Financial  Accounting Standards No. 128, Earnings Per Share. Net income per unit
includes no dilution  and is computed  by  dividing  loss  available  to limited
partners by the weighted average number of units outstanding  during the period.
Calculation of diluted net loss per unit is not required.

Income Taxes
------------

No provision  for income taxes has been recorded in the  accompanying  financial
statements as any liability and/or benefits for income tax purposes flows to the
partners of the Partnership and is their obligation  and/or benefit.  For income
tax purposes the Partnership reports on a calendar year basis.

Impact of New Accounting Pronouncements
---------------------------------------

In January 2003, the FASB issued Interpretation No. 46 ("FIN46"), "Consolidation
of  Variable  Interest  Entities."  FIN 46  provides  guidance on when a company
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 absorbs the  majority of the entity's
expected losses, the majority of the expected returns, or both.

In  December  2003,  the FASB issued a revision of FIN 46 ("FIN 46R") to clarify
some of its provisions.  The revision results in multiple  effective dates based
on the  nature  as well as the  creation  date of the VIE.  VIEs  created  after
January 31,  2003,  but prior to January 1, 2004,  may be  accounted  for either
based on the original interpretations or the revised  interpretations.  However,
all VIEs must be accounted for under the revised interpretations as of March 31,
2004, when FIN 46R is effective for the Partnership.

This  Interpretation  would require  consolidation by the Partnership of certain
Local Limited  Partnerships' assets and liabilities and results of operations if
the Partnership determined that the Local Limited Partnership was a VIE and that
the  Partnership  was  the  "Primary  Beneficiary."  Minority  interests  may be
recorded for the Local Limited  Partnerships'  ownership  share  attributable to
other Limited Partners. Where consolidation of Local Limited Partnerships is not
required,   additional  financial  information   disclosures  of  Local  Limited
Partnerships  may be  required.  The  Partnership  has  assessed  the  potential
consolidation effects of the Interpretation and preliminarily concluded that the
adoption of the Interpretation  will not have a material impact on the financial
statements of the Partnership.



                                       24
<PAGE>



                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                      For the Year Ended March 31, 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003


NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIPS
--------------------------------------------

As of the periods  presented,  the Partnership has acquired limited  partnership
interests in three Local  Limited  Partnerships,  each of which owns one Housing
Complex,  except for one that owns three  Housing  Complexes,  consisting  of an
aggregate  of 138  apartment  units.  As of March 31,  2004,  one of the Housing
Complexes  were under  construction  or  rehabilitation.  The  respective  Local
General  Partners  of the  Local  Limited  Partnerships  manage  the  day-to-day
operations  of the entities.  Significant  Local  Limited  Partnership  business
decisions require approval from the Partnership.  The Partnership,  as a limited
partner,  is generally  entitled to approximately 99%, as specified in the Local
Limited  Partnership  agreements,  of the operating profits and losses,  taxable
income and losses and tax credits of the Local Limited Partnerships.

The  Partnership's  investments  in limited  partnerships  as  reflected  in the
balance sheets at March 31, 2004 and 2003 are  approximately  $3,379,000 and $0,
respectively, greater than the Partnership's equity at the preceding December 31
as  shown in the  Local  Limited  Partnerships'  combined  financial  statements
presented below. This difference is primarily due to acquisition, selection, and
other  costs  related  to the  acquisition  of the  investments  which have been
capitalized in the Partnership's investment account and to capital contributions
payable to the limited partnerships which were netted against partner capital in
the  Local  Limited  Partnerships'   financial  statements  (see  Note  6).  The
Partnership's investment is also lower than the Partnership's equity as shown in
the  Local  Limited  Partnership's  combined  financial  statements  due  to the
estimated  losses  recorded by the  Partnership for the three month period ended
March 31.

Equity  in  losses  of the  Local  Limited  Partnerships  is  recognized  in the
financial  statements until the related  investment account is reduced to a zero
balance. Losses incurred after the investment account is reduced to zero are not
recognized. If the Local Limited Partnerships report net income in future years,
the  Partnership  will resume applying the equity method only after its share of
such net  income  equals  the share of net  losses  not  recognized  during  the
period(s) the equity method was suspended.

A loss in value from a Local Limited  Partnership other than a temporary decline
would be recorded as an impairment loss. Impairment is measured by comparing the
investment  carrying  amount to the sum of the total amount of the remaining tax
credits  allocated  to  the  fund  and  the  estimated  residual  value  of  the
investment.  The Partnership  recorded no impairment loss during the years ended
March 31, 2004 and 2003, respectively.

Distributions  received from Local Limited  Partnerships  are accounted for as a
reduction of the investment balance. Distributions received after the investment
has reached zero are  recognized as income.  As of March 31, 2004, no investment
accounts in Local Limited Partnerships had reached a zero balance.



                                       25
<PAGE>



                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                      For the Year Ended March 31, 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003
<TABLE>
<CAPTION>


NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIPS, continued
-------------------------------------------------------

The following is a summary of the equity method  activity of the  investments in
limited partnerships for the periods presented:

                                                                                        For the Years Ended
                                                                                             March 31
                                                                                   ------------------------------

                                                                                       2004            2003
                                                                                   -------------   --------------

<S>                                                                              <C>             <C>
Investments per balance sheet, beginning of period                               $            -  $             -
Capital contributions paid, net                                                       3,498,014                -
Capital contributions payable                                                         1,822,497                -
Equity in losses of limited partnerships                                               (128,146)               -
Capitalized acquisition fees and costs                                                1,183,770                -
Amortization of capitalized acquisition fees and costs                                  (22,301)               -
Capitalized warehouse interest and fees                                                  73,075
Amortization of capitalized warehouse interest and fees                                  (1,827)
                                                                                   -------------   --------------

Investments per balance sheet, end of period                                     $    6,425,082  $             -
                                                                                   =============   ==============
</TABLE>




                                       26
<PAGE>



                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                      For the Year Ended March 31, 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003


NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIPS, continued
-------------------------------------------------------

The financial  information from the individual financial statements of the Local
Limited Partnerships include rental and interest subsidies. Rental subsidies are
included in total revenues and interest  subsidies are generally  netted against
interest expense.  Approximate combined condensed financial information from the
individual financial statements of the Local Limited Partnerships as of December
31 and for the year then ended is as follows:

                        COMBINED CONDENSED BALANCE SHEETS
<TABLE>
<CAPTION>

                                                                                                       2003
                                                                                                  ---------------

<S>                                                                                             <C>
ASSETS

Land                                                                                            $      1,247,000
Buildings and improvements, net of accumulated depreciation of $115,000                                6,348,000
Other assets                                                                                             292,000
                                                                                                  ---------------

                                                                                                $      7,887,000
                                                                                                  ===============

LIABILITIES AND PARTNERS' EQUITY

Mortgage and construction loans payable                                                         $      3,625,000
Due to related parties                                                                                   728,000
Other liabilities                                                                                         67,000
                                                                                                  ---------------

                                                                                                       4,420,000
                                                                                                  ---------------

PARTNERS' CAPITAL

WNC Housing Tax Credit Fund VI, L.P., Series 10                                                        3,046,000
Other partners                                                                                           421,000
                                                                                                  ---------------

                                                                                                       3,467,000
                                                                                                  ---------------

                                                                                                $      7,887,000
                                                                                                  ===============
</TABLE>


                                       27
<PAGE>


                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                      For the Year Ended March 31, 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003



NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIPS, continued
-------------------------------------------------------

                   COMBINED CONDENSED STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>

                                                                                                        2003
                                                                                                   ---------------

<S>                                                                                              <C>
Revenues                                                                                         $        183,000
                                                                                                   ---------------

Expenses:
  Operating expenses                                                                                      151,000
  Interest expense                                                                                         18,000
  Depreciation and amortization                                                                           117,000
                                                                                                   ---------------

Total expenses                                                                                            286,000
                                                                                                   ---------------

Net loss                                                                                         $       (103,000)
                                                                                                   ===============

Net loss allocable to the Partnership                                                            $       (103,000)
                                                                                                   ===============

Net loss recorded by the Partnership                                                             $       (128,000)
                                                                                                   ===============
</TABLE>

Certain Local Limited  Partnerships have incurred  significant  operating losses
and/or have  working  capital  deficiencies.  In the event  these Local  Limited
Partnerships continue to incur significant operating losses,  additional capital
contributions  by the  Partnership  and/or  the  Local  General  Partner  may be
required  to sustain  the  operations  of such Local  Limited  Partnerships.  If
additional  capital  contributions  are not made  when  they are  required,  the
Partnership's  investment in certain of such Local Limited Partnerships could be
impaired,  and the loss of future  and  recapture  of prior Low  Income  Housing
Credits could occur.

NOTE 3 - RELATED PARTY TRANSACTIONS
-----------------------------------

Under the terms of the  Partnership  Agreement,  the  Partnership has paid or is
obligated to the General Partner or its affiliates for the following items:

          Acquisition fees of 7% of the gross proceeds from the sale of Units as
          compensation for services  rendered in connection with the acquisition
          of Local Limited Partnerships. For the period ended March 31, 2004 and
          2003, the  Partnership  incurred  acquisition  fees of $920,710 and $0
          respectively,   which  are   included   in   investments   in  limited
          partnerships.  Accumulated amortization of these capitalized costs was
          $17,309 and $0, as of March 31, 2004 and 2003, respectively.

          Acquisition  costs of 2% of the gross  proceeds from the sale of Units
          as a  non-accountable  expense  reimbursement  in connection  with the
          acquisition of Local Limited Partnerships.  For the period ended March
          31,  2004 and 2003,  the  Partnership  incurred  acquisition  costs of
          $263,060 and $0,  respectively,  which is included in  investments  in
          limited partnerships. Accumulated amortization was $4,992 and $0 as of
          March 31, 2004 and 2003, respectively.



                                       28
<PAGE>


                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                      For the Year Ended March 31, 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003


NOTE 3 - RELATED PARTY TRANSACTIONS, continued
----------------------------------------------

          A  non-accountable  organization  and offering  expense  reimbursement
          equal to 4% of the gross proceeds from the sale of the Units, a dealer
          manager  fee  equal to 2% of the gross  proceeds  from the sale of the
          Units, and  reimbursement for retail selling  commissions  advanced by
          the General Partner or affiliates on behalf of the  Partnership.  This
          reimbursement  plus all other  organizational  and offering  expenses,
          inclusive of the  non-accountable  organization  and offering  expense
          reimbursement,  and the dealer  manager fees, are not to exceed 13% of
          the  gross  proceeds  from  the  sale  of the  Units.  Non-accountable
          organizational  offering expense reimbursement and dealer manager fees
          totaled $526,120 and $263,060,  respectively, for the year ended March
          31, 2004

          An annual  asset  management  fee not to exceed  0.5% of the  invested
          assets  (defined as the sum of the  Partnership's  investment in Local
          Limited Partnerships, plus the revenues of the Partnership of up to 5%
          of gross Unit sales proceeds, and the Partnership's allocable share of
          the amount of the mortgage  loans on, and other debts  related to, the
          Housing Complexes) of the Local Limited Partnerships.  Management fees
          of $27,168 and $0 were incurred during the year and period ended March
          31, 2004 and 2003, respectively,  of which $0 was paid during the year
          ended March 31, 2004.

          The  Partnership  reimburses the General Partner or its affiliates for
          operating  expenses  incurred in behalf of the Partnership.  Operating
          expense  reimbursements  were  approximately  $13,400  during the year
          ended March 31, 2004.

          A subordinated  disposition  fee in an amount equal to 1% of the sales
          price of real estate sold.  Payment of this fee is subordinated to the
          Limited  Partners  receiving a return on investment (as defined in the
          Partnership  Agreement) and is payable only if the General  Partner or
          its affiliates  render services in the sales effort. No such fees were
          incurred in the year ended March 31, 2004.

The accrued fees and expenses due to General  Partner and affiliates  consist of
the following at:
<TABLE>
<CAPTION>

                                                                                            March 31
                                                                                ----------------------------------

                                                                                     2004               2003
                                                                                ---------------    ---------------

<S>                                                                           <C>                <C>
Advances from WNC                                                             $          2,326   $              -
Asset management fees payable                                                           27,209                  -
                                                                                ---------------    ---------------

                                                                              $         29,535   $              -
                                                                                ===============    ===============
</TABLE>





                                       29
<PAGE>


                WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                      For the Year Ended March 31, 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

<TABLE>
<CAPTION>

NOTE 4 - QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
----------------------------------------------------

The following is a summary of the quarterly operations for the year ended March 31:

                                           June 30           September 30       December 31           March 31
                                        ---------------     ---------------    ---------------     ---------------

               2004
               ----

<S>                                   <C>                 <C>                <C>                 <C>
Income                                $              -    $          1,000   $          1,000    $          4,000

Operating expenses                              (4,000)            (21,000)           (20,000)            (22,000)

Equity in income (losses) of
     limited partnerships                            -             (64,000)           (94,000)             30,000

Net income (loss)                               (4,000)            (84,000)          (113,000)             12,000

Net income (loss) available to
     limited partners                           (4,000)            (84,000)          (113,000)             12,000

Net income (loss) available per
     limited partnership unit -
     weighted average                               (2)                (13)               (10)                  2
</TABLE>


NOTE 5 - PAYABLES TO LIMITED PARTNERSHIPS
-----------------------------------------

Payables  to limited  partnerships  represent  amounts  which are due at various
times  based on  conditions  specified  in the  respective  limited  partnership
agreements.  These  contributions  are payable in installments and are generally
due upon the limited  partnerships  achieving certain  development and operating
benchmarks (generally within two years of the Partnership's initial investment).

NOTE 6 - SUBSCRIPTIONS RECEIVABLE
-------------------------------------------

As of March 31, 2003, the Partnership had accepted no  subscriptions  for Units.
Holders of Units are referred to herein as "Limited Partners." Effective May 15,
2003, the Partnership had received the minimum  subscriptions for units required
to break escrow.

From April 1, 2003 through  November 11, 2003, the date of closing the fund, the
Partnership  received  subscriptions for 13,153 units, which included promissory
notes of  $35,815  for  which it has  received  net cash  totaling  $13,083,455.
Promissory notes in the amount of $35,815 were outstanding at March 31, 2004.

NOTE  7- SUBSEQUENT EVENT (UNAUDITED)
-------------------------------------

In April 2004, the Partnership  acquired  limited  partnership  interests in one
Local Limited  Partnership  and in June 2004, the Partnership  acquired  limited
partnership  interests in two Local Limited Partnerships for an aggregare amount
of  $4,561,702.  Payments  in the amount of  $720,463  were made to these  Local
Limited Partnerships by the Partnership subsequent to year-end.


                                       30
<PAGE>

<TABLE>
<CAPTION>


Item  9.  Changes  in and  Disagreements  With  Accountants  on  Accounting  and
          Financial Disclosure

NOT APPLICABLE

Item 9a. Controls and Procedures

As of the end of the period covered by this report,  the  Partnership's  General
Partner, under the supervision and with the participation of the Chief Executive
Officer and Chief Financial  Officer of Associates  carried out an evaluation of
the effectiveness of the Fund's "disclosure  controls and procedures" as defined
in  Securities  Exchange  Act of 1934  Rule  13a-15  and  15d-15.  Based on that
evaluation,  the Chief Executive  Officer and Principal  Financial  Officer have
concluded  that  as of  the  end of the  period  covered  by  this  report,  the
Partnership's  disclosure controls and procedures were adequate and effective in
timely  alerting  them  to  material  information  relating  to the  Partnership
required to be included in the Partnership's periodic SEC filings.

Changes  in  internal  controls.  There  were no  changes  in the  Partnership's
internal control over financial reporting that occurred during the quarter ended
March 31, 2004 that materially affected,  or are reasonably likely to materially
affect, the Partnership's internal control over financial reporting.

PART III

Item 10. Directors and Executive Officers of the Registrant

(a)  Identification of Directors,  (b) Identification of Executive Officers, (c)
     ---------------------------------------------------------------------------
     Identification of Certain Significant Employees,  (d) Family Relationships,
     ---------------------------------------------------------------------------
     and (e) Business Experience
     ---------------------------

The  Partnership has no directors,  executive  officers or employees of its own.
The following biographical information is presented for the directors, executive
officers  and   significant   employees  of  Associates,   which  has  principal
responsibility for the Partnership's affairs.

Associates is a California corporation which was organized in 1971. Its officers
and significant employees are:

<S>                                   <C>
Wilfred N. Cooper, Sr.                Chairman of the Board
Wilfred N. Cooper, Jr.                President and Chief Executive Officer
David N. Shafer, Esq.                 Executive Vice President and Director of Asset Management
Sylvester P. Garban                   Senior Vice President - Institutional Investments
Thomas J. Riha, CPA                   Senior Vice President - Chief Financial Officer
David C. Turek                        Senior Vice President - Originations
Michael J. Gaber                      Senior Vice President - Acquisitions
Diemmy T. Tran                        Vice President - Portfolio Management
</TABLE>

In addition to Wilfred N. Cooper,  Sr., the directors of Associates  are Wilfred
N. Cooper, Jr., David N. Shafer, and Kay L. Cooper. The principal shareholder of
Associates is a trust established by Wilfred N. Cooper, Sr. and Kay L. Cooper.

Wilfred N.  Cooper,  Sr.,  age 73, is the founder  and  Chairman of the Board of
Directors of Associates,  a Director of WNC Capital  Corporation,  and a general
partner in some of the  partnerships  previously  sponsored by  Associates.  Mr.
Cooper has been actively involved in the affordable housing industry since 1968.
Previously,  during 1970 and 1971,  he was  founder and a principal  of Creative
Equity  Development  Corporation,  a predecessor of Associates,  and of Creative
Equity Corporation, a real estate investment firm. For 12 years before that, Mr.
Cooper was employed by Rockwell International  Corporation,  last serving as its
manager  of  housing  and urban  developments  where he had  responsibility  for
factory-built  housing  evaluation and project  management in urban planning and
development.  He has testified before committees of the U.S. Senate and the U.S.
House  of  Representatives.  Mr.  Cooper  is a Life  Director  of  the  National
Association of Home Builders and a National  Trustee for NAHB's Political Action
Committee,  and the Chairman of NAHB's Multifamily  Council. He is a Director of
the National Housing Conference and a member of NHC's Executive Committee, and a
founder and Director of the California Housing Consortium.  He is the husband of
Kay Cooper and the father of Wilfred N. Cooper,  Jr. Mr. Cooper  graduated  from
Pomona College in 1956 with a Bachelor of Arts degree.


                                       31
<PAGE>


Wilfred  N.  Cooper,  Jr.,  age  41,  is  President,  Chief  Executive  Officer,
Secretary,  a Director and a member of the Acquisition  Committee of Associates.
He is President of, and a registered  principal  with, WNC Capital  Corporation,
and is a Director of WNC  Management,  Inc. He has been  involved in real estate
investment  and  acquisition  activities  since 1988 when he joined  Associates.
Previously, he served as a Government Affairs Assistant with Honda North America
in Washington,  D.C. Mr. Cooper is a member of the Editorial  Advisory Boards of
Affordable  Housing  Finance and LIHC Monthly  Report,  a Steering Member of the
----------------------------     --------------------
Housing Credit Group of the National Association of Home Builders,  an Alternate
Director  of  NAHB,  a  member  of the  Advisory  Board  of the New  York  State
Association for Affordable Housing and a member of the Urban Land Institute.  He
is the son of Wilfred Cooper,  Sr. and Kay Cooper. Mr. Cooper graduated from The
American University in 1985 with a Bachelor of Arts degree.

David N. Shafer,  age 51, is Executive Vice President,  a Director,  Director of
Asset Management and a member of the Acquisition Committee of Associates,  and a
Director and Secretary of WNC Management, Inc. Mr. Shafer has been active in the
real estate  industry  since 1984.  Before  joining  Associates  in 1990, he was
engaged as an attorney in the private  practice of law with a specialty  in real
estate and taxation.  Mr.  Shafer is a Director and President of the  California
Council of Affordable Housing, and a member of the State Bar of California.  Mr.
Shafer graduated from the University of California at Santa Barbara in 1978 with
a Bachelor of Arts  degree,  from the New  England  School of Law in 1983 with a
Juris Doctor degree cum laude and from the  University of San Diego in 1986 with
a Master of Law degree in Taxation.

Sylvester  P.  Garban,   age  58,  is  Senior  Vice  President  -  Institutional
Investments of Associates Mr. Garban has been involved in real estate investment
activities since 1978. Before joining Associates in 1989, he served as Executive
Vice President with MRW, Inc., a real estate  development  and management  firm.
Mr. Garban is a member of the National Association of Affordable Housing Lenders
and the  Financial  Planning  Association.  He  graduated  from  Michigan  State
University in 1967 with a Bachelor of Science degree in Business Administration.

Thomas J. Riha, age 48, is Senior Vice President - Chief Financial Officer and a
member of the Acquisition Committee of Associates and President, Treasurer and a
Director of WNC Management, Inc. He has been involved in real estate acquisition
and investment  activities  since 1979.  Before joining  Associates in 1994, Mr.
Riha was  employed  by Trust  Realty  Advisor,  a real  estate  acquisition  and
management  company,  last  serving  as Vice  President  -  Operations.  He is a
Director  of the Task  Force on Housing  Credit  Certification  of the  National
Association  of Home Builders.  Mr. Riha  graduated  from the  California  State
University,  Fullerton  in 1977  with a  Bachelor  of Arts  degree  cum laude in
Business  Administration  with a concentration  in Accounting and is a Certified
Public  Accountant  and a member of the American  Institute of Certified  Public
Accountants.

David C. Turek,  age 49, is Senior Vice President - Originations  of Associates.
His  experience  with real estate  investments  and finance has continued  since
1976, and he has been employed by Associates since 1996.  Previously,  from 1995
to 1996,  Mr.  Turek served as a  consultant  for a national tax credit  sponsor
where he was  responsible  for on-site  feasibility  studies  and due  diligence
analyses of tax credit properties. From 1992 to 1995 he served as Executive Vice
President for Levcor, Inc., a multi-family development company, and from 1990 to
1992 he served as Vice President for the Paragon Group where he was  responsible
for tax credit development activities.  He is a Director of the National Housing
and Rehabilitation  Association,  the Rural Rental Housing Association of Texas,
and the Alabama Council of Affordable  Rental Housing.  Mr. Turek graduated from
Southern Methodist University in 1976 with a Bachelor of Business Administration
degree.

Michael J. Gaber,  age 38, is Senior Vice President - Acquisitions  and a member
of the Acquisition Committee of Associates.  Mr. Gaber has been involved in real
estate acquisition,  valuation and investment activities since 1989 and has been
associated  with  Associates  since 1997.  Prior to joining  Associates,  he was
involved in the valuation and  classification of major assets,  restructuring of
debt and analysis of real estate taxes with H.F.  Ahmanson & Company,  parent of
Home  Savings  of  America.  Mr.  Gaber  graduated  from  the  California  State
University,  Fullerton  in 1991 with a Bachelor  of Science  degree in  Business
Administration - Finance.

Diemmy T. Tran, age 38, is Vice President - Portfolio  Management of Associates.
She is responsible for overseeing  portfolio  management and investor  reporting
for  all  WNC  funds,  and  for  monitoring   investment  returns  for  all  WNC
institutional  funds. Ms. Tran has been involved in real estate asset management
and finance  activities for 12 years.  Prior to joining  Associates in 1998, Ms.
Tran served as senior asset manager for a national Tax Credit  sponsor and as an
asset specialist for the Resolution Trust  Corporation where she was responsible
for the disposition  and management of commercial  loan and REO portfolios.  Ms.
Tran is  licensed  as a  California  real  estate  broker.  She  graduated  from
California  State  University,  Northridge  in 1989 with a  Bachelor  of Science
degree in finance and a minor in real estate.



                                       32
<PAGE>

Kay L. Cooper,  age 67, is a Director of  Associates.  Mrs.  Cooper was the sole
proprietor of Agate 108, a manufacturer and retailer of home accessory products,
from 1975 until its sale in 1998. She is the wife of Wilfred Cooper, Sr. and the
mother of Wilfred  Cooper,  Jr. Ms.  Cooper  graduated  from the  University  of
Southern California in 1958 with a Bachelor of Science degree.

(f)  Involvement in Certain Legal Proceedings
     ----------------------------------------

     Inapplicable.

(g)  Promoters and Control Persons
     -----------------------------

     Inapplicable

(h)  Audit  Committee  Financial  Expert,  and (i)  Identification  of the Audit
     ---------------------------------------------------------------------------
     Committee
     ---------

     Neither the Partnership nor Associates has an audit committee.

(j)  Changes to Nominating Procedures
     --------------------------------

     Inapplicable

(k)  Code of Ethics
     --------------

     WNC & Associates  has adopted a Code of Ethics  which  applies to the Chief
     Executive Officer and Chief Financial Officer of WNC & Associates. The Code
     of Ethics will be provided  without  charge to any person who  requests it.
     Such requests  should be directed to: Investor  Relations at  (714)662-5565
     extension 118.

Item 11.  Executive Compensation

The Partnership has no officers,  employees,  or directors.  However,  under the
terms of the  Partnership  Agreement the Partnership is obligated to the General
Partner or its affiliates for the following fees:

(a)  Organization  and  Offering  Expenses.  The  Partnership  paid the  General
     Partner  or its  affiliates  as of March  31,  2004 and 2003  approximately
     $1,672,660  and $0 for selling  commissions  and other fees and expenses of
     the  Partnership's  offering  of Units.  Of the total  paid,  approximately
     $883,500  and $0 as of March 31, 2004 and 2003,  respectively,  was paid to
     unaffiliated person participating in the Partnership's offering.

(b)  Acquisition Fees.  Acquisition fees in an amount equal to 7.0% of the gross
     proceeds of the Partnership's Offering ("Gross Proceeds").  As of March 31,
     2004 and 2003 the aggregate  amount of acquisition fees paid or accrued was
     approximately $920,710 and $0, respectively.

(c)  Acquisition  Expense.  The  Partnership  reimbursed the General Partner for
     acquisition expenses, on a non-accountable  basis, in an amount equal to 2%
     of the Gross Proceeds,  pursuant to the terms of the partnership agreement.
     As of March 31, 2004 and 2003,  the aggregate  amount of  acquisition  fees
     paid or accrued was approximately $263,060 and $0, respectively.

(d)  Annual Asset  Management Fee. An annual asset  management fee accrues in an
     amount equal to 0.5% of the Invested Assets of the Partnership, as defined.
     "Invested Assets" is defined as the sum of the Partnership's  Investment in
     Local Limited  Partnerships,  plus the reserves of the Partnership of up to
     5% of gross Unit sales proceeds,  and the Partnership's  allocable share of
     the amount of the  mortgage  loans and other  debts  related to the Housing
     Complexes  owned by such Local Limited  Partnerships.  Fees of $27,168 were
     incurred for the year ended March 31, 2004,  and no fees were  incurred for
     the period February 28, 2003 (date operations  commenced) through March 31,
     2003.


                                       33
<PAGE>

(e)  Operating Expenses.  The Partnership  reimbursed the General Partner or its
     affiliates for operating  expenses of approximately  $13,400 and $0 for the
     year  ended  March 31,  2004 and for the  period  February  28,  2003 (date
     operations  commenced)  through March 31, 2003,  respectively,  expended by
     such persons on behalf of the Partnership.

(f)  Subordinated  Disposition Fee. A subordinated  disposition fee in an amount
     equal to 1% of the sale price may be received in  connection  with the sale
     or  disposition  of an  Apartment  Complex  or  Local  Limited  Partnership
     Interest.  Subordinated  disposition fees will be subordinated to the prior
     return of the Limited  Partners'  capital  contributions and payment of the
     Return on Investment to the Limited Partners.  "Return on Investment" means
     an annual, cumulative but not compounded,  "return" to the Limited Partners
     (including Low-Income Housing Credits) as a class on their adjusted capital
     contributions  commencing  for each Limited  Partner on the last day of the
     calendar quarter during which the Limited Partner's capital contribution is
     received by the  Partnership,  calculated at the following  rates:  (i) 11%
     through  December 31, 2010, and (ii) 6% for the balance of the Partnerships
     term. No disposition fees have been incurred.

(g)  Interest in  Partnership.  The General  Partner  will  receive  0.1% of the
     Low-Income  Housing Credits.  No Low-Income  Housing Credits were allocated
     for the period  ended  December  31,  2002.  The  General  Partners is also
     entitled  to  receive a  percentage  of cash  distributions.  There were no
     distributions  of cash owed to the  General  Partner  during the year ended
     March 31, 2004 and during the period  February  28,  2003 (date  operations
     commenced) through March 31, 2003.

Item 12.  Security  Ownership of Certain  Beneficial  Owners and  Management and
          Related Stockholder Matters

(a)  Securities Authorized for Issuance Under Equity Compensation Plans
     ------------------------------------------------------------------

     The  Partnership  has no  compensation  plans under which  interests in the
     Partnership are authorized for issuance.

(b)  Security Ownership of Certain Beneficial Owners
     -----------------------------------------------

     No person is known to own  beneficially  in excess of 5% of the outstanding
     Units.

(c)  Security Ownership of Management
     --------------------------------

     Neither the General  Partner,  its  affiliates,  nor any of the officers or
     directors  of  the  General  Partner  or its  affiliates  own  directly  or
     beneficially any Units in the Partnership.

(d)  Changes in Control
     ------------------

     The  management  and control of the General  Partner and of Associates  and
     their  affiliates  may be  changed  at any time in  accordance  with  their
     respective organizational documents, without the consent or approval of the
     Limited Partners.  In addition,  the Partnership Agreement provides for the
     admission  of one or more  additional  and  successor  General  Partners in
     certain circumstances.

     First,   with  the   consent   of  any  other   General   Partners   and  a
     majority-in-interest  of the  Limited  Partners,  any  General  Partner may
     designate  one or  more  persons  to be  successor  or  additional  General
     Partners. In addition,  any General Partner may, without the consent of any
     other General Partner or the Limited Partners,  (i) substitute in its stead
     as General  Partner  any  entity  which has,  by merger,  consolidation  or
     otherwise,  acquired  substantially  all  of its  assets,  stock  or  other
     evidence of equity interest and continued its business, or (ii) cause to be
     admitted to the Partnership an additional General Partner or Partners if it
     deems such  admission to be necessary or desirable so that the  Partnership
     will be classified a partnership for Federal income tax purposes.  Finally,
     a  majority-in-interest  of the Limited Partners may at any time remove the
     General Partner of the Partnership and elect a successor General Partner.


                                       34
<PAGE>

Item 13.  Certain Relationships and Related Transactions

The General Partner manages all of the Partnership's  affairs.  The transactions
with  the  General  Partner  are  primarily  in the  form  of  fees  paid by the
Partnership for services rendered to the Partnership, reimbursement of expenses,
and the General Partner's  interest in the Partnership,  as discussed in Item 11
and in the notes to the Partnership's financial statements.

Item 14.  Principal Accountant Fees and Services

The following is a summary of fees paid to the Fund's  independent  auditors for
the years ended March 31:
                                             2004                2003
                                        ---------------     ---------------

Audit Fees                            $         16,925    $         17,780
Audit-related Fees                                   -                   -
Tax Fees                                         1,050                   -
All Other Fees                                       -                   -
                                        ---------------     ---------------
TOTAL                                 $         17,975    $         17,780
                                        ===============     ===============


The  Partnership  has no Audit  Committee.  All audit services and any permitted
non-audit services performed by the Fund's independent  auditors are preapproved
by the General Partner.

PART IV.

Item 15.  Exhibits, Financial Statement Schedules, and Reports on Form 8-K

(a)(1)    Financial statements included in Part II hereof:
          ------------------------------------------------

          Report of  Independent  Registered  Public Accounting  Firm  - Reznick
            Fedder & Silverman
          Report of Independent Registered Public Accounting Firm - BDO Seidman,
            LLP
          Balance Sheets March 31, 2004 and 2003
          Statements of Operations for the year ended March 31, 2004 and for the
          period February 28, 2003 (Date Operations Commenced) through March 31,
            2003
          Statements  of Partners'  Equity for the year ended March 31, 2004 and
          for the period February 28, 2003 (Date Operations  Commenced)  through
            March 31, 2003
          Statements of Cash Flows for the year ended March 31, 2004 and for the
            period February 28, 2003 (Date Operations Commenced) through March
            31, 2003
          Notes to Financial Statements

(a)(2)    Financial statement schedules:
          ------------------------------

          Report of Independent  Registered  Public Accounting Firm on Financial
          Statement  Schedules - Reznick Fedder & Silverman  Schedule III - Real
          Estate Owned by Local Limited Partnerships

(b)       Reports on Form 8-K.
          --------------------

          NONE




                                       35
<PAGE>



(c)       Exhibits.
          ---------

31.1      Certification  of the  Principal  Executive  Officer  pursuant to Rule
          13a-14  and  15d-14,  as  adopted  pursuant  to  section  302  of  the
          Sarbanes-Oxley Act of 2002. (filed herewith)

31.2      Certification  of the  Principal  Financial  Officer  pursuant to Rule
          13a-14  and  15d-14,  as  adopted  pursuant  to  section  302  of  the
          Sarbanes-Oxley Act of 2002. (filed herewith)

32.1      Section 1350  Certification  of the Chief  Executive  Officer.  (filed
          herewith)

32.2      Section 1350  Certification  of the Chief  Financial  Officer.  (filed
          herewith)

99.1      Second  Amendment  to the Amended and  Restated  Agreement  of Limited
          Partnership  of Catoosa Senior  Village,  L.P. as exhibit 10.3 to Form
          8-K/A Current Report dated September 5, 2203 is herein incorporated by
          reference as exhibit 99.1.

99.2      Amended and  Restated  Agreement  of Limited  Partnership  of Humboldt
          Village, L.P. as exhibit 99.1 to Form 8-K Current Report dated June 8,
          2004 is herein incorporated by reference as exhibit 99.2.

99.3      Amended and  Restated  Agreement of Limited  Partnership  of Starlight
          Place,  L.P. as exhibit 99.2 to Form 8-K Current  Report dated June 8,
          2004 is herein incorporated by reference as exhibit 99.3.

99.4      Financial Statements of Melodie Meadows Associates, Ltd. for the years
          ended December 31, 2003 and 2002 together with  Independent  Auditors'
          Report thereon; a significant suvsidiary of the Partnership.

99.5      Financial  Statements of Catoosa  Senior  Village,  L.P. for the years
          ended December 31, 2003 and 2002 together with  Independent  Auditors'
          Report thereon; a significant suvsidiary of the Partnership.


                                       36
<PAGE>


      REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON FINANCIAL
                               STATEMENT SCHEDULES


To the Partners
WNC Housing Tax Credit Fund VI, L.P., Series 10

     The audit  referred to in our report  dated June 23,  2004  relating to the
2004 financial  statements of WNC Housing Tax Credit Fund VI, L.P., Series 10 (a
California Limited Partnership) (the "Partnership"), which are contained in Item
8 of this Form 10-K, included the audit of the accompanying  financial statement
schedule "Real Estate Owned by Local Limited  Partnerships March 31, 2004." This
financial   statement  schedule  is  the  responsibility  of  the  Partnership's
management.  Our  responsibility  is to express  an  opinion  on this  financial
statement schedule based upon our audit.

     In our opinion,  based on our audit and the reports of the other  auditors,
such financial  statement  schedule  referred to above presents  fairly,  in all
material respects, the information set forth therein.



/s/ Reznick, Fedder & Silverman

Bethesda, Maryland
June 23, 2004







                                       37
<PAGE>


WNC Housing Tax Credit Fund VI, L.P., Series 10
Schedule III
Real Estate Owned by Local Limited Partnerships
March 31, 2004
<TABLE>
<CAPTION>
                                                -------------------------------  ---------------------------------------------------
                                                   As of March 31, 2004                          As of December 31, 2003
                                                ------------------------------------------------------------------------------------
                                                                                   Mortgage
                                             Total Investment      Amount of      Balances of
                                             in Local Limited    Investment Paid Local Limited   Property and  Accumulated  Net Book
      Partnership Name            Location       Partnerships        to Date      Partnerships    Equipment    Depreciation   Value
------------------------------------------------------------------------------------------------------------------------------------
<S>                               <C>           <C>              <C>            <C>           <C>          <C>           <C>
Catoosa Senior                    Calhoun,
Village, L.P.                     Georgia       $  1,997,000     $  1,579,000   $ 2,382,000   $ 4,808,000   $  50,000    $ 4,758,000

Humboldt                          Winnemucca,
Village, L.P.                     Nevada           1,754,000          350,000            **            **          **             **

Melodie Meadows                   Glencoe,
Associates, Ltd.                  Alabama          1,569,000        1,568,000     1,243,000     2,902,000      65,000      2,837,000
                                                ------------     ------------   -----------   -----------   ---------   -- ---------

                                                $  5,320,000     $  3,497,000   $ 3,625,000   $ 7,710,000   $ 115,000    $ 7,595,000
                                                ============     ============   ===========   ===========   =========    ===========
</TABLE>

** The Local Limited Partnership was not acquired until February 2004.



                                       38
<PAGE>


WNC Housing Tax Credit Fund VI, L.P., Series 10
Schedule III
Real Estate Owned by Local Limited Partnerships
March 31, 2004
<TABLE>
<CAPTION>
                              --------------------------------------------------------------------------------------
                                                      For the year ended December 31, 2003
                              --------------------------------------------------------------------------------------
                                                                     Year Investment                Estimated Useful
      Partnership Name        Rental Income           Net Loss          Acquired         Status       Life (Years)
--------------------------------------------------------------------------------------------------------------------

<S>                                     <C>            <C>              <C>                                      <C>
Catoosa Senior Village, L.P.            $ 89,000       $ (39,000)       2003           Completed                 40

Humbolt Village, L.P.                         **               **       2004                  **                 **

Melodie Meadows Associates,
Ltd.                                      89,000         (64,000)       2003           Completed                 40
                                       ---------       ----------
                                       $ 178,000       $(103,000)
                                       =========       ==========
</TABLE>


** The Local Limited Partnership was not acquired until February 2004.




                                       39
<PAGE>



                                   SIGNATURES


Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  registrant  has duly  caused  this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10

By:      WNC & Associates, Inc.,
         General Partner



         By:      /s/ Wilfred N. Cooper, Jr.
                  --------------------------
                  Wilfred N. Cooper, Jr.,
                  President of WNC & Associates, Inc.

Date:  Septemer 20, 2004

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following  persons on behalf of the  registrant and
in the capacities and on the dates indicated.




By:      /s/ Wilfred N. Cooper, Jr.
         --------------------------
         Wilfred N. Cooper, Jr.,
         Chief Executive Officer, President and Director of
         WNC & Associates, Inc. (principal executive officer)

Date:  September 20, 2004




By:      /s/ Thomas J. Riha
         ------------------
         Thomas J. Riha,
         Senior Vice-President - Chief Financial Officer of
         WNC & Associates, Inc. (principal financial officer and principal
         accounting officer)

Date:  September 20, 2004




By:      /s/ Wilfred N. Cooper, Sr.
         --------------------------
         Wilfred N. Cooper, Sr.,
         Chairman of the Board of WNC & Associates, Inc.

Date:  September 20, 2004




By:      /s/ David N. Shafer
         -------------------
         David N Shafer,
         Director of WNC & Associates, Inc.

Date:  September 20, 2004




                                       40
<PAGE>