WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 10
                                   Exceptions
                                   ----------
The financial statements are presented as unaudited in the Form 10-K as of March
31,  2005 and 2004 and for the three years ended March 31, 2005 as the Report of
the Independent  Registered Public Accounting Firm could not be filed within the
prescribed  time period because the issuer was not able to obtain audit opinions
which refer to the auditing standards of the Public Company Accounting Oversight
Board  (United  States)  (PCAOB) of property  partnerships,  in which the issuer
holds  noncontrolling  limited  partner  interests.   The  non-affiliated  local
operating  partnership  general  partners engage the  accountants  auditing each
local operating partnership.

Historically,  the  audits,  and the  reports  thereon,  of the local  operating
partnerships  were  performed in accordance  with  Generally  Accepted  Auditing
Standards (GAAS).

On May 11,  2005 draft  guidance  was issued by the  Public  Company  Accounting
Oversight  Board which was  confirmed  on June 24, 2005 by the AICPA  Center for
Public Company Audit Firms,  that clearly  establishes  the  requirement for the
audit  reports of the  operating  partnerships  of a Public Fund to refer to the
auditing standards of the PCAOB.

The audits of the operating  partnerships  were performed  primarily  during the
months of January,  February and March and refer to Generally  Accepted Auditing
Standards. We have all appropriate originally signed opinions from the operating
partnerships; however, they do not refer to the auditing standards of the Public
Company Accounting Oversight Board.

Our independent  registered public accounting firm has performed an audit of the
registrant  but cannot issue an opinion in accordance  with the standards of the
Public Company  Accounting  Oversight Board (United States).  Therefore,  we are
filing our 10-K as "UNAUDITED" as it is without an audit opinion.



<PAGE>



                       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, 2005

                                       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: 000-50837


                 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
                              Irvine, CA 92614-6404
                   (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      No   X
  ------   ------

                                       2

<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. |X|

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).

                                      NONE

                                       3

<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.

                                       4
<PAGE>

As of  March  31,  2005  the  Partnership  had  invested  in six  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.

                                       5

<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  including those
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 six  Housing  Complexes  as of the dates and for the
periods indicated:
                                        6
<PAGE>
<TABLE>
<CAPTION>
                                                    ------------------------------------     ---------------------------------------
                                                           As of March 31, 2005                       As of December 31, 2004
                                                    ------------------------------------     ---------------------------------------
                                                                                                     OriginaL
                                                      Partnership's                                  Aggregate        Mortgage Loans
                                                      Total Original  Amount of                      Estimated Low      of Local
Local Limited                                         Investment in   Investment  Number of          Income Housing      Limited
Partnership Name   Location    General Partner Name   Local Limited  Paid to Date   Units  Occupancy Credits (1)        Partnership
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                          <C>           <C>                              <C>         <C>
Catoosa Senior     Calhoun,      BC Holdings, LLC      $ 1,997,000  $ 1,997,000     60     100%  $  2,663,000        $ 2,366,000
Village, L.P.      Georgia

FDI-Green Manor    Hempstead,    Fieser Holding, Inc.      617,000      408,000     40      90%       845,000          1,179,000
2003, Ltd.         Texas

FDI-Pine Meadows   Prairie View, Fieser Holdings, Inc.     687,000      567,000     60      97%       941,000          1,112,000
2003, Ltd.         Texas

Humboldt Village,  Winnemucca,   Humboldt Village, LLC   1,739,000    1,579,000     66      89%     2,351,000          2,414,000
L.P.               Nevada

Melodie Meadows    Glencoe,      Eagle Creek Partners    1,569,000    1,569,000     40      98%     2,135,000          1,244,000
Associates, Ltd.   Alabama

Starlight Place,   Americus,     BC Holdings, LLC        3,258,000    3,114,000     52      **      4,402,000                  -
L.P.               Georgia                             -----------     ---------   ----     ---    ----------         ----------
                                                       $ 9,867,000  $ 9,234,000    318      94%  $ 13,337,000        $ 8,315,000
                                                       ===========   ===========   ===      ===   ===========         ===========
</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.
    Approximately 10% of the  anticipated  Low Income Housing  Credits have been
    received from the Local Limited Partnerships and are no longer  available to
    the Partnership's Limited Partners.

**As of December 31, 2004 the Local Limited Partnership was under construction.

                                       7

<PAGE>

<TABLE>
<CAPTION>
                                       -------------------------------------------------------------------------
                                                   For the year ended December 31, 2004
                                       -------------------------------------------------------------------------
                                                                                          Low Income Housing
                                                                                         Credits Allocated to
           Partnership Name                  Rental Income                  Net Loss          Partnership
----------------------------------------------------------------------------------------------------------------
<S>                                                   <C>                <C>                    <C>
Catoosa Senior Village, L.P.                           $  215,000         $   (115,000)                 99.97%

FDI- Green Manor 2003, Ltd.                                83,000              (11,000)                 99.98%

FDI- Pine Meadows 2003, Ltd.                              126,000               (9,000)                 99.98%

Humbolt Village, L.P.                                     198,000              (14,000)                 92.06%

Melodie Meadows Associates, Ltd.                          117,000              (66,000)                 99.98%

Starlight Place, L.P.                                          **                   **                  99.97%
                                                        ---------              --------                -------
                                                       $  739,000         $   (215,000)
                                                        =========             =========
</TABLE>



** As of December 31, 2004 the Local Limited Partnership was under construction.


                                       8
<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  or  otherwise  transferred  only if certain  requirements  in the
     Partnership Agreement are satisfied.

(b)  At March 31, 2005, there were 628 Limited Partners and 5 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)  Except as may have  otherwise been  previously  reported,  no  unregistered
     securities were sold by the Partnership  during the three years ended March
     31, 2005, 2004 and 2003.


Item 5b. Use of Proceeds

NOT APPLICABLE

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

NONE

                                       9

<PAGE>


Item 6.  Selected Financial Data

Selected balance sheet information for the Partnership is as follows:
<TABLE>
<CAPTION>
                                                                                       March 31
                                                                ------------------------------------------------------
                                                                     2005                2004               2003
                                                                ---------------     ---------------    ---------------
                                                                  (unaudited)
ASSETS
<S>                                                          <C>                 <C>                <C>
Cash and cash equivalents                                     $        913,526    $      6,649,763   $          1,100
Interest receivable                                                          -                 108                  -
Investments in limited partnerships, net                            10,678,095           6,425,082                  -
Other assets                                                             6,300                   -                  -
                                                                ---------------     ---------------    --------------
                                                              $     11,597,921    $     13,074,953   $          1,100
                                                                ===============     ===============    ===============
LIABILITIES

Payables to limited partnerships                              $        633,165    $      1,822,497   $              -
Accrued fees and expenses due to
  general partner and affiliates                                        98,701              29,535                  -

PARTNERS' EQUITY                                                    10,866,055          11,222,921              1,100
                                                                ---------------     ---------------    ---------------

                                                              $     11,597,921    $     13,074,953   $          1,100
                                                                ===============     ===============    ===============
</TABLE>
Selected  results of  operations,  cash  flows,  and other  information  for the
Partnership are as follows:
<TABLE>
<CAPTION>
                                                                                                      For the Period
                                                                                                      from February
                                                                                                      28, 2003 (date
                                                                     For the Years Ended                operations
                                                                            March 31                  commenced) to
                                                              ---------------------------------
                                                                     2005               2004          March 31, 2003
                                                                 (unaudited)
                                                              ---------------------------------      ----------------
<S>                                                        <C>                    <C>             <C>
Loss from operations
Equity in losses of limited partnerships                    $           (137,978)  $    (60,828)   $                  -
                                                                        (251,203)      (128,146)                      -
                                                              -------------------     ---------     -------------------
Net loss
                                                            $          (389, 181)  $   (188,974)   $                  -
                                                              ===================     =========     ===================
Net loss allocated to:
  General partner
                                                            $               (389)          (189)   $                  -
                                                              ===================      =========    ===================
  Limited partners
                                                            $           (388,792)      (188,785)   $                  -
                                                              ===================      =========    ===================
Net loss  per limited partner
  unit
                                                            $             (29.56)        (22.97)   $                  -
                                                              ===================     =========     ===================
Outstanding weighted limited
  partner units
                                                                          13,153         8,220                        -
                                                              ===================     =========     ===================
</TABLE>

                                       10

<PAGE>
<TABLE>
<CAPTION>
                                                                For the year ended March 31       For the period from
                                                                                                   February 28, 2003
                                                                                                    (date operation
                                                                                                  commenced) to March
                                                                                                        31, 2003
                                                              ---------------------------------   ---------------------
                                                                   2005               2004
                                                              ---------------     -------------
                                                               (unaudited)
<S>                                                        <C>                 <C>               <C>
Net cash provided by (used in):
  Operating activities                                      $        (33,108)   $      (7,273)    $                -
  Investing activities                                            (5,735,444)      (4,754,859)                     -
  Financing activities                                                32,315       11,410,795                      -
                                                              ---------------     -------------        ----------------
Net increase (decrease) in cash and cash
  equivalents                                                     (5,736,237)       6,648,663                      -

Cash and cash equivalents,
  beginning of period                                              6,649,763            1,100                  1,100
                                                              ---------------     -------------        ----------------
Cash and cash equivalents, end
  of period                                                 $        913,526    $   6,649,763       $          1,100
                                                              ===============     =============        ================
</TABLE>
Low Income  Housing  Credits  per Unit were as  follows  for the year and period
ended December 31:
<TABLE>
<CAPTION>
                                                                   2004                2003                2002
                                                              ---------------     ---------------     ----------------
<S>                                                        <C>                 <C>                 <C>
Federal                                                     $             54    $             20    $               -
State                                                                      -                   -                    -
                                                              ---------------     ---------------     ----------------

Total                                                       $             54    $             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.


                                       11

<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 sum 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 to the financial statements).

Equity in losses of limited  partnerships  for each year ended March 31 has 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.  In subsequent  annual  financial
statements,  upon  receiving  the actual  annual  results  reported by the Local
Limited  Partnerships,  management  reverses its prior  estimate and records the
actual results reported by 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

                                       12

<PAGE>

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 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
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  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 Partners
will have no recourse if they disagree with actions  authorized by a vote of the
majority of Limited Partners.


Financial Condition

The  Partnership's  assets at March 31, 2005 consisted  primarily of $914,000 in
cash,   aggregate   investments  in  the  six  Local  Limited   Partnerships  of
$10,678,000. Liabilities at March 31, 2005 consisted of $90,000 in accrued asset
management  fees,  $9,000 in  reimbursements  for  expenses  paid by the General
Partner and/or its affiliates and $633,000 in  contributions  payable to limited
partnerships.

                                       13

<PAGE>

Results of Operations

Year  Ended  March  31,  2005  Compared  to  Period  Ended  March  31,  2004 The
Partnership's  net  loss for the  year  ended  March  31,  2005 was  $(389,000),
reflecting an increase of $(200,000) from the net loss of $(189,000) experienced
for the year ended March 31, 2004. The increase in net loss is largely due to an
increase in equity in loss from  partnerships  of $(123,000)  and an increase of
(77,000) in loss from  operations  for the year ended March 31, 2005 compared to
the year  ended  March  31,  2004.  The  increase  in loss from  operations  was
primarily  caused by a $(50,000)  increase in asset  management fee, a $(18,000)
increase in amortization of acquisition  fees and costs,  $(21,000)  increase in
accounting and legal expenses,  $(8,000)  increase in asset management  expense,
$(1,000)  increase  in other  expenses,  offset by $21,000  increase in interest
income.

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, 2005  Compared to Period Ended March 31, 2004 Net cash used
during the year ended  March 31,  2005 was  $(5,736,000),  compared  to net cash
provided for the year ended March 31, 2004 of $6,649,000. The change was largely
due to a decrease of net cash provided by financing activities by $(11,379,000),
an increase in cash used in investing  activities  by  $(980,000),  along with a
$(26,000) increase in net cash used in operating activities.

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, 2005, to be  sufficient  to meet all  currently  foreseeable
future cash  requirements.  This  excludes  amounts  owed to  Associates  by the
Partnership disclosed below.

Future Contractual Cash Obligations

The following table  summarizes our future  contractual  cash  obligations as of
March 31, 2005:
<TABLE>
<CAPTION>
                                    2006         2007        2008        2009        2010      Thereafter     Total
                                  ----------   ----------  ----------  ----------  ---------  ------------  -----------
<S>                            <C>          <C>         <C>         <C>         <C>        <C>           <C>
Asset Management Fees (1)       $   182,355  $    92,852 $    92,852 $    92,852 $   92,852 $   4,828,304 $  5,382,067
Capital Contributions Payable
   to Lower Tier Partnerships       633,165            -           -           -          -             -      633,165
                                  ----------   ----------  ----------  ----------  ---------  ------------  -----------
Total contractual cash
   obligations                  $   815,520  $    92,852 $    92,852 $    92,852 $   92,852 $   4,828,304 $  6,015,232
                                  ==========   ==========  ==========  ==========  =========  ============  ===========
</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, 2005 have been  included in the 2006 column.  The  Partnership
     does not anticipate that these fees will be paid until such time as capital
     reserves  are in  excess  of the  aggregate  of  the  existing  contractual
     obligations  and the  anticipated  future  foreseeable  obligations  of the
     Partnership.

For  additional   information   regarding  asset  management  fees  and  capital
contributions  payable to Local Limited  Partnerships,  see Notes 3 and 5 to the
financial statements included elsewhere herein.

                                       14

<PAGE>

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.

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.  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.

Impact of New Accounting Pronouncements

As of March 31,  2004,  the  Partnership  adopted FASB  Interpretation  No. 46 -
Revised,  Consolidation  of  Variable  Interest  Entities  ("FIN46R").  FIN  46R
provides  guidance as to when a company should include the assets,  liabilities,
and  activities  of  a  variable   interest  entity  ("VIE")  in  its  financial
statements,   and  when  a  company  should  disclose   information   about  its
relationship  with a VIE. A VIE is a legal structure used to conduct  activities
or hold assets, and a VIE must be consolidated by a company if it is the primary
beneficiary  because a primary  beneficiary absorbs the majority of the entity's
expected losses, the majority of the expected residual returns, or both.

Under FIN 46R, the Local Limited  Partnerships in which the Partnership  invests
are VIEs. However,  management does not consolidate the Partnership's  interests
in these VIE's under FIN46R,  as the  Partnership  is not considered the primary
beneficiary.  Rather,  the  Partnership  currently  records  the  amount  of the
investment in the Local Limited  Partnerships  as an asset in the balance sheet,
and  recognizes  its share of Local  Limited  Partnership  income or loss in the
statement of operations.

The Partnership's balance in its investment in Local Limited Partnerships,  plus
the risk of recapture of tax credits previously recognized on these investments,
represents its maximum exposure to loss. The  Partnership's  exposure to loss is
mitigated  by  the  condition  and  financial   performance  of  the  underlying
properties,  as well as the  strength of the Local  General  Partners  and their
guarantee against credit recapture.

In May 2005, the FASB issued Statement of Financial Accounting Standards No. 154
(SFAS 154),  "Accounting Changes and Error Corrections" which provides guidance
on the  accounting  for and  reporting of accounting  changes and  correction of
errors.  This  statement  changes the  requirements  for the  accounting for and
reporting  of a change in  accounting  principle  and  applies to all  voluntary
changes in  accounting  principle.  It also  applies to changes  required  by an
accounting pronouncement in the unusual instance that the pronouncement does not
include  specific  transition  provisions.   This  statement  is  effective  for
accounting  changes and  corrections  of errors made in fiscal  years  beginning
after December 15, 2005. The  Partnership  does not anticipate a material effect
upon the adoption of this statement.

                                       15

<PAGE>

Item 7A.  Quantitative and Qualitative Disclosures About Market Risk

NOT APPLICABLE

Item 8.  Financial Statements and Supplementary Data


                                       16





























<PAGE>


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

                                 BALANCE SHEETS

 Unaudited - These financial statements are being filed without an opinion from
               our independent registered public accounting firm.
<TABLE>
<CAPTION>
                                                                                              March 31,
                                                                                   -----------------------------
                                                                                       2005            2004
                                                                                   -------------  --------------
ASSETS
<S>                                                                             <C>            <C>
Cash and cash equivalents                                                        $      913,526 $     6,649,763
Interest receivable                                                                           -             108
Investments in limited partnerships (Notes 2 and 3)                                  10,678,095       6,425,082
Other assets                                                                              6,300               -
                                                                                   -------------  --------------

                                                                                 $   11,597,921 $    13,074,953
                                                                                   =============  ==============
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Liabilities:
   Payables to limited partnerships  (Note 5)                                    $      633,165 $     1,822,497
   Accrued fees and expenses due to General Partner
      and affiliates (Note 3)                                                            98,701          29,535
                                                                                   -------------  --------------
       Total liabilities                                                                731,866       1,852,032
                                                                                   -------------  --------------

Commitments and contingencies

Partners' equity (deficit)
   General partner                                                                         (478)            (89)
   Limited partners (25,000 units authorized, 13,153 units
       Outstanding at March 31, 2005 and 2004)                                       10,866,533      11,223,010
                                                                                   -------------  --------------

     Total partners' equity                                                          10,866,055      11,222,921
                                                                                   -------------  --------------

                                                                                 $   11,597,921 $    13,074,953
                                                                                   =============  ==============
</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 Years Ended March 31, 2005, 2004 and
          For the Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.
<TABLE>
<CAPTION>
                                                                                                             For The Period
                                                                                                              February 28,
                                                                                                               2003 (Date
                                                                                                               Operations
                                                                                                               Commenced)
                                                                       For the Years Ended March 31             through
                                                                 ----------------------------------------
                                                                        2005                 2004            March 31, 2003
                                                                 -------------------   ------------------   -----------------
<S>                                                           <C>                     <C>                 <C>
Interest income                                                $             26,776    $           6,203   $               -

Operating expenses:
    Amortization (Notes 2 and 3)                                             41,896               24,128                   -
    Asset management fees (Note 3)                                           77,335               27,168                   -
    Legal and accounting                                                     31,182               10,445                   -
    Asset management expenses                                                 9,382                2,094
    Other                                                                     4,959                3,196                   -
                                                                 -------------------   ------------------   -----------------

      Total operating expenses                                              164,754               67,031                   -
                                                                 -------------------   ------------------   -----------------

Loss from operations                                                       (137,978)             (60,828)                  -
                                                                 -------------------   ------------------   -----------------

Equity in losses of limited partnerships (Note 2)                          (251,203)            (128,146)                  -
                                                                 -------------------   ------------------   -----------------

Net loss                                                       $           (389,181)   $        (188,974)  $               -
                                                                 ===================   ==================   =================

Net loss allocated to:
   General partner                                             $               (389)   $            (189)  $               -
                                                                 ===================   ==================   =================

   Limited partners                                            $           (388,792)   $        (188,785)  $               -
                                                                 ===================   ==================   =================

Net loss per limited partner unit                              $             (29.56)   $          (22.97)  $               -
                                                                 ===================   ==================   =================

Outstanding weighted limited partner units                                   13,153                8,220                   -
                                                                 ===================   ==================   =================
</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, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.
<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

Collection of promissory notes receivable                                -             35,815              35,815

Offering expenses                                                        -             (3,500)             (3,500)

Net loss                                                              (389)          (388,792)           (389,181)
                                                            ---------------     --------------     ---------------

Partners' equity (deficit) at March 31, 2005              $           (478)   $    10,866,533    $     10,866,055
                                                            ===============     ==============     ===============
</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 Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.
<TABLE>
<CAPTION>
                                                                                                             For The Period
                                                                                                              February 28,
                                                                                                               2003 (Date
                                                                                                               Operations
                                                                                                               Commenced)
                                                                                                                 through
                                                                       For the Years Ended March 31          March 31, 2003
                                                                    ------------------------------------    ------------------
                                                                        2005                2004
                                                                    --------------   -------------------
<S>                                                               <C>               <C>                 <C>
Cash flows from operating activities:
   Net loss                                                         $   (389,181)    $        (188,974)  $                -
   Adjustments to reconcile net loss to
     net cash provided by (used in) operating activities:
    Amortization                                                          41,896                24,128                    -
    Equity in losses of limited partnerships                             251,203               128,146                    -
    Change in interest receivable                                            108                  (108)                   -
    Change in due to general partner and affiliates                       69,166                29,535                    -
      Change in other assets                                              (6,300)                    -                    -
                                                                    --------------   -------------------    ------------------

Net cash used in operating activities                                    (33,108)               (7,273)                   -
                                                                    --------------   -------------------    ------------------

Cash flows from investing activities:
   Investments in limited partnerships, net                           (5,735,444)           (3,498,014)                   -
   Capitalized acquisition costs and fees                                      -            (1,256,845)                   -
                                                                    --------------   -------------------    ------------------

Net cash used in investing activities                                 (5,735,444)           (4,754,859)                   -
                                                                    --------------   -------------------    ------------------

Cash flows from financing activities:
   Capital contributions received                                         35,815            13,083,455                    -
   Offering expenses                                                      (3,500)           (1,672,660)                   -
                                                                    --------------   -------------------    ------------------

Net cash provided by financing activities                                 32,315            11,410,795                    -
                                                                    --------------   -------------------    ------------------

Net increase (decrease) in cash and cash
  equivalents                                                         (5,736,237)            6,648,663                    -

Cash and cash equivalents, beginning of period                         6,649,763                 1,100                1,100
                                                                    --------------   -------------------    ------------------

Cash and cash equivalents, end of period                            $    913,526     $       6,649,763   $            1,100
                                                                    ==============   ===================    ==================

SUPPLEMENTAL DISCLOSURE OF
   CASH FLOW INFORMATION:
   Taxes paid                                                       $        800     $             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 Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003


Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.

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 Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.

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.
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.

                                       22

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

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                 For the Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.

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 sum 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.  In subsequent  annual  financial
statements,  upon  receiving  the actual  annual  results  reported by the Local
Limited  Partnerships,  management  reverses its prior  estimate and records the
actual results reported by 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.  As of March 31,
2005, no investment  accounts in Local Limited  Partnerships  had reached a zero
balance.

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 as of March 31, 2005 and 2004.

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.

                                       23

<PAGE>

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

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                 For the Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.

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

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,
2005 and 2004, the Partnership had no cash equivalents.

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

At March 31, 2005, 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 Loss Per Limited Partner Unit
---------------------------------

Net loss per  limited  partner  unit is  calculated  pursuant  to  Statement  of
Financial  Accounting  Standards No. 128,  Earnings Per Share. Net loss 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
---------------------------------------

As of March 31,  2004,  the  Partnership  adopted FASB  Interpretation  No. 46 -
Revised,  Consolidation  of  Variable  Interest  Entities  ("FIN46R").  FIN  46R
provides  guidance as to when a company should include the assets,  liabilities,
and  activities  of  a  variable   interest  entity  ("VIE")  in  its  financial
statements,   and  when  a  company  should  disclose   information   about  its
relationship  with a VIE. A VIE is a legal structure used to conduct  activities
or hold assets, and a VIE must be consolidated by a company if it is the primary
beneficiary  because a primary  beneficiary absorbs the majority of the entity's
expected losses, the majority of the expected residual returns, or both.

Under FIN 46R, the Local Limited  Partnerships in which the Partnership  invests
are VIEs. However,  management does not consolidate the Partnership's  interests
in these VIE's under FIN46R,  as the  Partnership  is not considered the primary
beneficiary.  Rather,  the  Partnership  currently  records  the  amount  of the
investment in the Local Limited  Partnerships  as an asset in the balance sheet,
and  recognizes  its share of Local  Limited  Partnership  income or loss in the
statement of operations.

The Partnership's balance in its investment in Local Limited Partnerships,  plus
the risk of recapture of tax credits previously recognized on these investments,
represents its maximum exposure to loss. The  Partnership's  exposure to loss is
mitigated  by  the  condition  and  financial   performance  of  the  underlying
properties,  as well as the  strength of the Local  General  Partners  and their
guarantee against credit recapture.

                                       24

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

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                 For the Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.

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

In May 2005, the FASB issued Statement of Financial Accounting Standards No. 154
(SFAS 154),  "Accounting  Changes and Error Corrections" which provides guidance
on the  accounting  for and  reporting of accounting  changes and  correction of
errors.  This  statement  changes the  requirements  for the  accounting for and
reporting  of a change in  accounting  principle  and  applies to all  voluntary
changes in  accounting  principle.  It also  applies to changes  required  by an
accounting pronouncement in the unusual instance that the pronouncement does not
include  specific  transition  provisions.   This  statement  is  effective  for
accounting  changes and  corrections  of errors made in fiscal  years  beginning
after December 15, 2005. The  Partnership  does not anticipate a material effect
upon the adoption of this statement.

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

As of March 31, 2005, the Partnership has acquired limited partnership interests
in six Local  Limited  Partnerships,  each of which  owns one  Housing  Complex,
except for one that owns three Housing Complexes,  consisting of an aggregate of
318  apartment  units.  As of March 31, 2005,  one of the Housing  Complexes was
under  construction.  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, 2005 and 2004 are  approximately  $  2,591,000  and
$3,379,000, 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 5). 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.

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, 2005 and 2004.

                                       25

<PAGE>

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

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                 For the Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.

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:
<TABLE>
<CAPTION>
                                                                                      For the Years Ended
                                                                                           March 31
                                                                         ----------------------------------------------
                                                                             2005            2004             2003
                                                                         -------------   --------------   -------------
<S>                                                                   <C>             <C>              <C>
Investments per balance sheet, beginning of period                     $    6,425,082  $             -  $            -
Capital contributions paid, net                                             3,912,947        3,498,014               -
Capital contributions payable                                                 633,165        1,822,497               -
Equity in losses of limited partnerships                                     (251,203)        (128,146)              -
Capitalized acquisition fees and costs                                              -        1,183,770               -
Amortization of capitalized acquisition fees and costs                        (39,460)         (22,301)              -
Capitalized warehouse interest and fees                                             -           73,075               -
Amortization of capitalized warehouse interest and fees                        (2,436)          (1,827)              -
                                                                         -------------   --------------   -------------

Investments per balance sheet, end of period                           $   10,678,095  $     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 Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.

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>
                                                                                   2004                2003
                                                                              ---------------     ---------------
ASSETS
<S>                                                                        <C>                 <C>
Land                                                                        $      1,695,000    $      1,247,000
Buildings and improvements, ( net of accumulated depreciation of
  $414,000 and $115,000 as of December 31, 2004 and 2003, respectively)           16,266,000           6,348,000
Other assets                                                                         750,000             292,000
                                                                              ---------------     ---------------

                                                                            $     18,711,000    $      7,887,000
                                                                              ===============     ===============

LIABILITIES AND PARTNERS' EQUITY

Mortgage and construction loans payable                                     $      8,315,000    $      3,625,000
Due to related parties                                                             1,208,000             728,000
Other liabilities                                                                    539,000              67,000
                                                                              ---------------     ---------------

                                                                                  10,062,000           4,420,000
                                                                              ---------------     ---------------

PARTNERS' CAPITAL

WNC Housing Tax Credit Fund VI, L.P., Series 10                                    8,070,000           3,046,000
Other partners                                                                       579,000             421,000
                                                                              ---------------     ---------------

                                                                                   8,649,000           3,467,000
                                                                              ---------------     ---------------

                                                                            $     18,711,000    $      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 Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.

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

                   COMBINED CONDENSED STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
                                                                                      2004               2003
                                                                                ---------------    ---------------
<S>                                                                          <C>                <C>
Revenues                                                                      $        751,000   $        183,000
                                                                                ---------------    ---------------

Expenses:
  Operating expenses                                                                   552,000            151,000
  Interest expense                                                                     112,000             18,000
  Depreciation and amortization                                                        302,000            117,000
                                                                                ---------------    ---------------

Total expenses                                                                         966,000            286,000
                                                                                ---------------    ---------------

Net loss                                                                      $       (215,000)   $      (103,000)
                                                                                ===============    ===============

Net loss allocable to the Partnership                                         $       (213,000)   $      (103,000)
                                                                                ===============    ===============

Net loss recorded by the Partnership                                          $       (251,000)   $      (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 all the periods presented, the Partnership
     incurred acquisition fees of $920,710, which are included in investments in
     limited partnerships.  Accumulated  amortization of these capitalized costs
     was $48,001 and $17,309, as of March 31, 2005 and 2004, 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 all periods  presented,  the  Partnership
     incurred acquisition costs of $263,060, which is included in investments in
     limited partnerships. Accumulated amortization was $13,760 and $4,992 as of
     March 31, 2005 and 2004, respectively.

                                       28

<PAGE>

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

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                 For the Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.

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 years ended March 31, 2005 and 2004, respectively.

     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 $77,335 and $27,168
     were incurred during the years ended March 31, 2005 and 2004, respectively,
     of which  $15,000 and $0 was paid during the years ended March 31, 2005 and
     2004, respectively.

     The  Partnership  reimburses  the  General  Partner or its  affiliates  for
     operating expenses incurred in behalf of the Partnership. Operating expense
     reimbursements  were  approximately  $45,000 and  $13,400  during the years
     ended March 31, 2005 and 2004, respectively.

     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, 2005.

The accrued fees and expenses due to General Partner and  affiliates  consist of
the following at:
<TABLE>
<CAPTION>
                                                                                            March 31
                                                                                ----------------------------------
                                                                                     2005               2004
                                                                                ---------------    ---------------
<S>                                                                          <C>                <C>
Reimbursement for expenses paid by the General Partner and/or
  its affiliates                                                              $          9,157   $          2,326
Asset management fees payable                                                           89,503             27,209
Payable to Limited Partner                                                                  41                  -
                                                                                ---------------    ---------------

                                                                              $         98,701   $         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 Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.

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

The following is a summary of the quarterly operations for the year ended  March
31:
<TABLE>
<CAPTION>
                                           June 30           September 30       December 31          March 31
                                        ---------------     ---------------   ----------------     --------------
               2005
               ----
<S>                                    <C>                  <C>               <C>                  <C>
Income                                  $       11,000       $      8,000      $       4,000        $     4,000

Operating expenses                              33,000             48,000             55,000             29,000

Equity in losses of limited
     partnerships                              (31,000)           (63,000)           (35,000)          (122,000)

Net loss                                       (53,000)          (103,000)           (86,000)          (147,000)

Net loss available to limited
     partners                                  (53,000)          (103,000)           (86,000)          (147,000)

Net loss available per limited
     partnership unit - weighted
     average                                        (4)                (8)                (7)               (11)
</TABLE>

<TABLE>
<CAPTION>
                                            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>

                                       30

<PAGE>

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

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                 For the Years Ended March 31, 2005 and 2004 and
          For The Period February 28, 2003 (Date Operations Commenced)
                             through March 31, 2003

Unaudited - These  financial  statements are being filed without an opinion from
               our independent registered public accounting firm.

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).

                                       31

<PAGE>

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 Partnership'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  Chief  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, 2005 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:

Wilfred N. Cooper, Sr.         Chairman of the Board
Wilfred N. Cooper, Jr.         President and Chief Executive Officer
David N. Shafer, Esq.          Executive Vice President
Sylvester P. Garban            Senior Vice President - Institutional Investments
Thomas J. Riha, CPA            Senior Vice President - Chief Financial Officer
Michael J. Gaber               Senior Vice President - Acquisitions
Edward W. Peters               President of WNC Management, Inc.

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,  a National  Trustee for NAHB's  Political  Action
Committee,  and a past Chairman of NAHB's Multifamily  Council. He is a Director
of the National Housing Conference and a member of NHC's Board of Governors, 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.

                                       32

<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 and a Director of, and a registered  principal with, WNC Capital
Corporation, and is a Director and Vice President 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,  a  member  of the Tax  Policy  Council  for the
National Trust for Historic Preservation,  a member of the Advisory Board of the
New York State  Association for Affordable  Housing,  a member of the Urban Land
Institute and a member of TEC  International.  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 52, is Executive Vice President, a Director and a member of
the  Acquisition  Committee of  Associates,  and a Director,  Vice President 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 past 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   and  a  registered   principal  with  WNC  Capital
Corporation.  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 49, is Senior Vice President - Chief Financial Officer and a
member of the  Acquisition  Committee  and the  Commercial  Real Estate Group of
Associates and Vice 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. 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.

Michael J. Gaber,  age 38, is Senior Vice President - Acquisitions  and a member
of the Acquisition  Committee and the Commercial Real Estate Group of Associates
and a Vice President of WNC Management, Inc. 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.

Edward W. Peters, age 52, is President of WNC Management,  Inc. He has more than
12 years of  experience in all facets of property  management.  Prior to joining
WNC in 2003,  Mr.  Peters  served as Vice  President  and  Director  of Property
Management  at Design  Center  Housing  Services,  Inc.  and as Director at John
Stewart Company. He is a licensed real estate broker in the State of California,
a  certified  occupancy   specialist  (COS),  and  holds  two  national  housing
compliance  certificates:  the housing credit compliance professional (HCCP) and
the national credit compliance  professional-executive  (NCP-e). Mr. Peters is a
Director of the Affordable  Housing  Management  Association  and graduated from
Rutgers University in 1990 with a Master of Science degree in social work and in
1983 from Antioch University with a Master of Science degree in education.

Kay L. Cooper,  age 68, 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.
                                       33

<PAGE>
(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,  2005 and 2004  approximately
     $1,672,660  for  selling  commissions  and other fees and  expenses  of the
     Partnership's offering of Units. Of the total paid,  approximately $886,980
     and $883,480 as of March 31, 2005 and 2004, 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,
     2005 and 2004 the aggregate  amount of acquisition fees paid or accrued was
     approximately $920,710.

(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, 2005 and 2004,  the aggregate  amount of  acquisition  fees
     paid or accrued was approximately $263,060.

(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 $ 77,535 and
     $27,168  were  incurred  for the  years  ended  March  31,  2005 and  2004,
     respectively,  and no fees were  incurred for the period  February 28, 2003
     (date operations commenced) through March 31, 2003.

(e)  Operating Expenses.  The Partnership  reimbursed the General Partner or its
     affiliates for operating expenses of approximately $45,000,  $13,400 and $0
     for the years ended March 31, 2005 and 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.

                                       34

<PAGE>

(g)  Interest  in  Partnership.   The  General  Partner  receives  0.1%  of  the
     Partnership's  allocated Low Income  Housing  Credits,  which  approximated
     $706,  $262,  and $0 for the  General  Partner  for the  tax  years  ending
     Decemeber 31, 2004, 2003 and 2002,  respectively.  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 years ended
     March 31,  2005 and 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.

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.

                                       35

<PAGE>

Item 14.  Principal Accountant Fees and Services

The  following  is a  summary  of  fees  paid to the  Partnership's  independent
registered public accounting firm for the years ended March 31:
<TABLE>
<CAPTION>
                                             2005                2004
                                        ---------------     ---------------
<S>                                  <C>                 <C>
Audit Fees                            $         17,150    $         16,925
Audit-related Fees                                   -                   -
Tax Fees                                         3,000               1,050
All Other Fees                                       -                   -
                                        ---------------     ---------------
TOTAL                                 $         20,150    $         17,975
                                        ===============     ===============
</TABLE>
The  Partnership  has no Audit  Committee.  All audit services and any permitted
non-audit services performed by the Partnership's  independent registered public
accounting firm are preapproved by the General Partner.

PART IV.

Item 15.Exhibits and Financial Statement Schedules

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

          Unaudited Balance  Sheets March 31, 2005 and 2004
          Unaudited Statements of Operations for the years ended March 31, 2005,
           2004 and for the period February 28, 2003 (Date Operations Commenced)
           through March 31, 2003
          Unaudited Statements of Partners' Equity for the years ended March 31,
           2005,  2004 and for the period February  28,  2003  (Date  Operations
           Commenced)  through March 31, 2003
          Unaudited  Statements of Cash Flows
          for the years ended March 31, 2005,  2004 and for the period  February
          28, 2003 (Date Operations  Commenced) through March 31, 2003
          Unaudited Notes to Financial Statements

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

      Unaudited Schedule III-Real Estate Owned  by  Local  Limited  Partnerships

(a)(3)List of Exhibits.
      -----------------

31.1  Certification  of  the  Chief  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  Chief  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 Catoosa  Senior  Village,  L.P., as of and for the
     years ended December 31, 2003 and 2002 together with Independent  Auditors'
     Report thereon;  filed as exhibit 99.4 on Form 10-K dated March 31, 2004; a
     significant subsidiary of the Partnership.

99.5 Financial  Statements of Melodie Meadow Associates,  Ltd. as of and for the
     years ended December 31, 2003 and 2002 together with Independent  Auditors'
     Report thereon;  filed as exhibit 99.5 on Form 10-K dated March 31, 2004; a
     significant subsidiary of the Partnership.

99.6  Financial Statements of Melodie Meadow Associates,  Ltd. as of and for the
      years ended December 31, 2004 and 2003 together with Independent Auditors'
      Report  thereon;  a  significant  subsidiary  of  the  Partnership. (filed
      herewith)

99.7 Financial Statements of Starlight Place Limited Partnership,  as of and for
     the year ended December 31, 2004 together with Independent Auditors' Report
     thereon; a significant subsidiary of the Partnership. (filed herewith)

                                       36

<PAGE>

WNC Housing Tax Credit Fund VI, L.P., Series 10
Schedule III
Real Estate Owned by Local Limited Partnerships
March 31, 2005
<TABLE>
<CAPTION>
                                --------------------------------                ----------------------------------------------------
                                  Initial Cost to Partnership                               As of December 31, 2004
                                --------------------------------                ----------------------------------------------------
                                                                                  Mortgage
                          Total                                                   Balances
                        Investment   Amount of                          Cost         of
                        in Local     Investment                      Capitalized    Local                                        Net
Partnership             Limited       Paid              Building &  Subsequent to  Limited            Building &   Accumulated  Book
  Name       Location  Partnership   to Date    Land   Improvements  Acquisition  Partnerships Land  Improvements Depreciation Value
------------------------------------------------------------------------------------------------------------------------------------
<S>                      <C>        <C>        <C>         <C>        <C>    <C>        <C>        <C>        <C>        <C>
Catoosa Senior  Calhoun,  $1,997,000 $1,997,000 $1,039,000  $3,769,000 $1,000 $2,366,000 $1,039,000 $3,770,000  $201,000  $4,608,000
Senior Village  Georgia
L.P

FDI - GM 2003   Hempstead,   617,000    408,000     30,000   1,731,000      -  1,179,000     30,000  1,731,000    18,000   1,743,000
                Texas

FDI - PM 2003   Prairie      687,000    567,000     90,000   1,650,000      -  1,112,000     90,000  1,650,000    15,000   1,725,000
                View,
                Texas

Humboldt        Winnemucca,1,739,000  1,579,000     79,000   4,223,000      -  2,414,000     79,000  4,223,000    35,000   4,267,000
Village         Nevada

Melodie         Glencoe,   1,569,000  1,569,000    209,000   2,693,000  1,000  1,244,000    209,000  2,694,000   145,000   2,758,000
Meadows         Alabama
Associates,
Ltd.

Starlight       Americus,  3,258,000  3,114,000    249,000   2,611,000      -          -    249,000  2,611,000         -   2,860,000
Place           Georgia    ---------  ---------    -------   ---------  -----  ---------    -------   ---------  -------   ---------

                          $9,867,000 $9,234,000  1,696,000 $16,677,000 $2,000  8,315,000 $1,696,000 $16,679,000 $414,000 $17,961,000
                          ========== ==========  ========= =========== ======  =========  ========== ==========  ======== ==========
</TABLE>

                                       37

<PAGE>

WNC Housing Tax Credit Fund VI, L.P., Series 10
Schedule III
Real Estate Owned by Local Limited Partnerships
March 31, 2005
<TABLE>
<CAPTION>
                              --------------------------------------------------------------------------------------
                                                      For the year ended December 31, 2004
                              --------------------------------------------------------------------------------------
                                                                   Year Investment                Estimated Useful
      Partnership Name          Rental Income        Net Loss         Acquired         Status       Life (Years)
--------------------------------------------------------------------------------------------------------------------
<S>                                   <C>            <C>           <C>          <C>                   <C>
Catoosa Senior Village, L.P.           $ 215,000      $ (115,000)       2003           Completed          40

FDI - GM 2003                             82,000         (11,000)       2004           Completed          40

FDI - PM 2003                            126,000          (9,000)       2004           Completed          40

Humboldt Village, L.P.                   199,000         (14,000)       2004           Completed          40

Melodie Meadows Associates,
Ltd.                                     117,000         (66,000)       2003           Completed          40

                                                                                          Not
Starlight Place                               **              **        2004           Completed          40
                                       ---------       ----------
                                       $ 739,000       $(215,000)
                                      ==========       ==========
</TABLE>

**As of December 31, 2004 the Local Limited Partnership was under construction.

                                       38

<PAGE>

WNC Housing Tax Credit Fund VI, L.P., Series 10
Schedule III
Real Estate Owned by Local Limited Partnerships
<TABLE>
<CAPTION>
March 31, 2004
          ------------------------------------------   -----------------------------------------------------------------------------
                   Initial Cost to Partnership                             As of December 31, 2003
          ------------------------------------------   -----------------------------------------------------------------------------
                         Total Investment Amount of     Mortgage
                               in         Investment    Loans of
Partnership               Local Limited     Paid     Local Limited             Property &       Accumulated
 Name          Location    Partnership     to Date    Partnerships    Land      Equipment      Depreciation    Net Book Value
------------------------------------------------------------------------------------------------------------------------------------
<S>                        <C>         <C>        <C>            <C>           <C>               <C>          <C>
Catoosa Senior   Calhoun    $1,997,000  $1,579,000 $2,382,000     $ 1,039,000  $3,769,000         $ 50,000     $4,758,000
Village, L.P.    Georgia

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

Melodie Meadows  Glencoe     1,569,000   1,568,000  1,243,000         209,000   2,693,000           65,000      2,837,000
Associates, Ltd. Alabama     ---------   ---------  ---------         -------   ---------           -------     ---------

                           $ 5,320,000 $ 3,497,000 $3,625,000     $ 1,248,000  $6,462,000        $ 115,000    $ 7,595,000
                            ==========   =========  =========      ==========   =========        =========     ==========
</TABLE>

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

                                       39

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

Humboldt Village,               **              **        2004                  **                 **
L.P.

Melodie Meadows              89,000        (64,000)       2003           Completed                 40
Associates, Ltd.            -------       ---------      ------          ----------                --

                          $ 178,000      $(103,000)
                           ========       =========
</TABLE>
**  The Local Limited Partnership was not acquired until February 2004.


                                       40

<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:  December 9, 2005

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.(chief executive officer)

Date:  December 9, 2005




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

Date:  December 9, 2005




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

Date:  December 9, 2005




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

Date:  December 9, 2005
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