`<SUBMISSION-INFORMATION-FILE>


         <TYPE>                                 10-K405                                                     </TYPE>

         <CONFIRMING-COPY>                      NO                                                          </CONFIRMING-COPY>

         <SROS>                                 NONE                                                        </SROS>

         <FILER>

            <FILER-CIK>                       0000835095                                                  </FILER-CIK>

            <FILER-CCC>                       du@kk3kv                                                    </FILER-CCC>

         </FILER>

         <SUBMISSION-CONTACT>

            <CONTACT-NAME>                    EDGAR Advantage Service Team                                </CONTACT-NAME>

            <CONTACT-PHONE>                   800-688-1933                                                </CONTACT-PHONE>

         </SUBMISSION-CONTACT>

         <NOTIFY-INTERNET>                                                                                  </NOTIFY-INTERNET>

         <RETURN-COPY>                          YES                                                         </RETURN-COPY>

         <PERIOD>                               03/31/2001                                                  </PERIOD>


      </SUBMISSION-INFORMATION-FILE>`

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(X)   QUARTERLY REPORT PERSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES 
EXCHANGE ACT OF 1934.
                   For the fiscal year ended March 31, 2001
                                          
   or
( )   TRANSITION REPORT PERSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934
      For the transition period from _______ to _______
Commission file number        0-17679BOSTON CAPITAL TAX CREDIT FUND LIMITED PARTNERSHIP.(Exact name of registrant as specified in its charter)



|Delaware                          | 04-3006542         
|--------------------------------- | -------------------
|(State or other jurisdiction      | (I.R.S. Employer   
|of incorporation or organization) | Identification No.)

One Boston Place, Suite 2100, Boston, Massachusetts  02108(Address of principal executive offices)           (Zip Code)
Registrants telephone number, including area code (617)624-8900Securities registered pursuant to Section 12(b) of the Act:



|Title of each class | Name of each exchange
On which registered
|------------------- | -----------------------------------------
|None                | None                                     

Securities registered pursuant to Section 12(g) of the Act:Beneficial Assignee Certificates(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 twelve months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.

|YES | X     | NO |      
|--- | ----- | -- | -----
|    | ----- |    | -----

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K( 229.405 of this chapter) 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.DOCUMENTS INCORPORATED BY REFERENCE
The following documents of the Partnership are incorporated by reference:

|Form 10-K    |                                
|------------ | -------------------------------
|Parts        | Documents                      
|             |                                
|Parts I, III | October 14, 1988 Prospectus, as
|             | supplemented                   



BOSTON CAPITAL TAX CREDIT FUND LIMITED PARTNERSHIP
Form 10-K ANNUAL REPORT
FOR THE YEAR ENDED MARCH 31, 2001
TABLE OF CONTENTS
PART I

|Item 1. | Business
Properties
Legal Proceedings
Submission of Matters to a Vote
Of Security Holders
|------- | -----------------------------------------------------------------------------------------
|Item 2.
|Item 3.
|Item 4.

PART II

|Item 5. | Market for the Registrant's Class A Limited Partner
Interests and Related Security-Holder Matters 
Selected Financial Data
Management's Discussion and Analysis of
Financial Condition and Results of
Operations
Financial Statements and Supplementary Data
Changes in and Disagreements with Accountants on 
Accounting and Financial Disclosure
|------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|       
|Item 6.
|Item 7.
|       
|       
|Item 8.
|Item 9.
|       

PART III

|Item 10. | Directors and Executive Officers
of the Registrant 
Executive Compensation 
Security Ownership of Certain Beneficial
Owners and Management
Certain Relationships and Related Transactions
|-------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        
|Item 11.
|Item 12.
|        
|Item 13.

PART IV

|Item 14. | Exhibits, Financial Statement Schedules, and
Reports on Form 8-K
Signatures
|-------- | ---------------------------------------------------------------------------
|        
|        
|        

PART I

Item 1. BusinessOrganizationBoston Capital Tax Credit Fund Limited Partnership (the "Fund") is a limited 
partnership formed under the Delaware Revised Uniform Limited
Partnership Act as of June 1, 1988.  Effective as of June 1, 2001 there was a 
restructuring, and as a result, the Fund's general partner was reorganized as 
follows.  The General Partner of the Fund continues to be Boston Capital 
Associates Limited Partnership, a Massachusetts limited partnership.  The 
general partner of the General Partner is BCA Associates Limited Partnership, 
a Massachusetts limited partnership, whose sole general partner is C&M 
Management, Inc., a Massachusetts corporation and whose limited partners are 
Herbert F. Collins and John P. Manning.  Mr. Manning is the principal of 
Boston Capital Partners, Inc.  The limited partner of the General Partner is 
Capital Investment Holdings, a general partnership whose partners are certain 
officers and employees of Boston Capital Partners, Inc., and its affiliates. 
The Assignor Limited Partner is BCTC Assignor Corp., a Delaware corporation 
which is now wholly-owned by John P. Manning.
The Assignor Limited Partner was formed for the purpose of serving in 
that capacity for the Partnership and will not engage in any other business.  
Units of beneficial interest in the Limited Partnership Interest of the 
Assignor Limited Partner were assigned by the Assignor Limited Partner by 
means of beneficial assignee certificates ("BACs") to investors and investors 
are entitled to all the rights and economic benefits of a Limited Partner of 
the Partnership including rights to a percentage of the income, gains, losses,
deductions, credits and distributions of the Partnership.
A Registration Statement on Form S-11 and the related prospectus, as
supplemented (the "Prospectus") was filed with the Securities and Exchange
Commission and became effective August 29, 1988 in connection with a public
offering ("Offering") of Series 1 through 6. The Partnership raised
$97,746,940 representing a total of 9,800,600 BACs.  The offering of BACs in
all series ended on September 29, 1989.Description of Business
The Partnership's principal business is to invest as a limited partner 
in other limited partnerships (the "Operating Partnerships"), each of which 
was to own or lease and operate an Apartment Complex exclusively or partially 
for low- and moderate-income tenants.  Each Operating Partnership in which the
Partnership has invested owns an Apartment Complex which is completed,
newly-constructed, or newly-rehabilitated. Each Apartment Complex qualified
for the low-income housing tax credit under Section 42 of the Code (the
"Federal Housing Tax Credit"), thereby providing tax benefits over a period of
eleven years in the form of tax credits which investors may use to offset 
income, subject to certain strict limitations, from other sources.  Certain of 
the Apartment Complexes also qualified for the historic rehabilitation tax 
credit under Section 48 of the Code (the "Rehabilitation Tax Credit").  The 
Federal Housing Tax Credit and the Government Assistance programs are 
described on pages 53 to 73 of the Prospectus under the caption "Government 
Assistance

1

Programs," which is incorporated herein by reference.  Section 236 (f) (ii) of
the National Housing Act, as amended, in Section 101 of the Housing and Urban
Development Act of 1965, as amended, each provide for the making by HUD of
rent supplement payments to low income tenants in properties which receive
other forms of federal assistance such as Tax Credits.  The payments for each
tenant, which are made directly to the owner of their property, generally are
in such amounts as to enable the tenant to pay rent equal to 30% of the
adjusted family income.  Some of the Apartment Complexes in which the
Partnership has invested are receiving such rent supplements from HUD.  HUD
has been in the process of converting rent supplement assistance to assistance
paid not to the owner of the Apartment Complex, but directly to the
individuals.  At this time, the Partnership is unable to predict whether
Congress will continue rent supplement programs payable directly to owners of
the Apartment Complex.
At March 31, 2001, the Partnership had limited partnership equity
interests in one hundred three operating partnerships which own operating
apartment complexes as follows:  eighteen in Series 1; eight in Series 2;
thirty-three in Series 3; twenty-four in Series 4; five in Series 5; and
fifteen in Series 6.  A description of these Operating Partnerships is set
forth in Item 2 herein.
The business objectives of the Partnership are to:
     (1)  preserve and protect the Partnership's capital;
     (2)  provide current tax benefits to Investors in the form of (a) 
Federal Housing Tax Credits and Rehabilitation Tax Credits, which an Investor 
may apply, subject to certain strict limitations, against his federal income 
tax liability form active, portfolio and passive income, and (b) passive 
losses which an Investor may apply to offset his passive income (if any);
     (3)  Provide capital appreciation through increases in value of the
Partnership's investments and, to the extent applicable, equity buildup
through periodic payments on the mortgage indebtedness with respect to the
Apartment Complexes;
     (4)  provide cash distributions (except with respect to the 
Partnership's investment in certain Non-Profit Operating Partnerships) from a 
Capital Transaction as to the Partnership.  The Operating Partnerships intend 
to hold the Apartment Complexes for appreciation in value.  The Operating 
Partnerships may sell the Apartment Complexes after a period of time if 
financial conditions in the future make such sales desirable and if such sales 
are permitted by government restrictions.
The business objectives and investment policies of the Partnership are
described more fully on pages 44 to 52 of the Prospectus under the caption
"Business Objectives and Investment Policies," which is incorporated herein by
reference.

2

Employees
The Partnership does not have any employees.  Services are performed by the 
General Partner and its affiliates and agents retained by them.
Item 2. Properties
The Partnership has acquired a limited partnership interest in each of the one
hundred three Operating Partnerships identified in the following
tables.  In each instance the Apartment Complex owned by the applicable
Operating Partnership is eligible for the Federal Housing Tax Credit.
Occupancy of a unit in each Apartment Complex which initially complied with
the Minimum Set-Aside Test (i.e., occupancy by tenants with incomes equal to
no more than a certain percentage of area median income) and the Rent
Restriction Test (i.e., gross rent charged tenants does not exceed 30% of the
applicable income standards) is referred to hereinafter as "Qualified
Occupancy".  Each of the Operating Partnerships and each of the respective
Apartment Complexes are described more fully in the Prospectus, as
supplemented, or applicable Report on Form 8-K.  The General Partner believes
that there is adequate casualty insurance on the properties.
Please refer to Item 7. "Management's Discussion and Analysis of 
Financial Condition and Results of Operations" for a more detailed discussion 
of operational difficulties experienced by certain of the Operating 
Partnerships.
3

Boston Capital Tax Credit Fund Limited Partnership - Series 1
PROPERTY PROFILES AS OF MARCH 31, 2001

|PropertyName             | Location        | Units | Mortgage
Balance
As Of12/31/00 | ConstructionCompletion | Qualified
Occupancy3/31/01 | Capital
Contrib-uted
|------------------------ | --------------- | ----- | ------------------------------ | ---------------------- | -------------------------- | --------------------
|Apple Hill
Apartments    | West Newton,
NC | 44    | $1,474,251                     | 01/88                  | 100%                       | $ 317,660           
|                         |                 |       |                                |                        |                            |                     
|Bolivar
Manor
Apartments | Bolivar,
NY     | 24    | 873,955                        | 11/88                  | 100%                       | 180,498             
|                         |                 |       |                                |                        |                            |                     
|Briarwood
Apartments     | Vero Beach,
FL  | 45    | 1,466,733                      | 08/89                  | 100%                       | 386,368             
|                         |                 |       |                                |                        |                            |                     
|Broadway
East            | Kingston,
NY    | 122   | 5,184,279                      | 06/89                  | 100%                       | 952,500             
|                         |                 |       |                                |                        |                            |                     
|Country
Knoll            | Coldwater,
MI   | 32    | 930,650                        | 07/89                  | 100%                       | 202,610             
|                         |                 |       |                                |                        |                            |                     
|Country
Village Apts     | Warwick,
NY     | 64    | 3,151,486                      | 04/89                  | 100%                       | 845,000             
|                         |                 |       |                                |                        |                            |                     
|Elk Rapids II
Apartments | Elk Rapids,
MI  | 24    | 733,972                        | 02/89                  | 100%                       | 161,078             
|                         |                 |       |                                |                        |                            |                     
|Green Acres
Apartments   | Yulee,
FL       | 47    | 1,468,569                      | 08/89                  | 100%                       | 394,500             
|                         |                 |       |                                |                        |                            |                     
|Inglewood
Meadows        | St. Cloud,
FL   | 50    | 1,475,270                      | 11/88                  | 100%                       | 394,400             
|                         |                 |       |                                |                        |                            |                     
|Minnehaha
Court Apts.    | St. Paul,
MN    | 24    | 1,118,966                      | 11/88                  | 100%                       | 631,138             
|                         |                 |       |                                |                        |                            |                     
|Moss Creek
Apartments    | Wewahitchka,
FL | 23    | 705,787                        | 06/88                  | 100%                       | 207,592             
|                         |                 |       |                                |                        |                           
|River Park
Commons       | Rochester,
NY   | 402   | 9,888,323                      | 12/88                  | 100%                       | 2,315,400           
|                         |                 |       |                                |                        |                            |                     
|Sunset West
Apartments   | Conneaut,
OH    | 40    | 1,163,812                      | 04/88                  | 100%                       | 250,701             
|                         |                 |       |                                |                        |                            |                     

4

Boston Capital Tax Credit Fund Limited Partnership - Series 1
PROPERTY PROFILES AS OF MARCH 31, 2001

Continued

|PropertyName              | Location             | Units | Mortgage
Balance
As Of12/31/00 | ConstructionCompletion | Qualified
Occupancy3/31/01 | Capital
Contrib-uted
|------------------------- | -------------------- | ----- | ------------------------------ | ---------------------- | -------------------------- | --------------------
|Villas of
Geneva          | Geneva,
OH           | 40    | $1,179,246                     | 08/88                  | 100%                       | $ 254,967           
|                          |                      |       |                                |                        |                            |                     
|Virginia
Circle
Townhomes | St. Paul,
MN         | 16    | 660,647                        | 06/88                  | 100%                       | 395,000             
|                          |                      |       |                                |                        |                            |                     
|Westchase
Apartments      | Three Rivers,
MI     | 32    | 958,063                        | 07/89                  | 100%                       | 202,610             
|                          |                      |       |                                |                        |                            |                     
|Wood Creek
Manor          | Saulte St.
Marie, MI | 32    | 958,583                        | 07/89                  | 100%                       | 213,390             
|                          |                      |       |                                |                        |                            |                     
|Woodland
Terrace          | St. Cloud,
FL        | 50    | 1,475,270                      | 11/88                  | 100%                       | 394,500             

5

Boston Capital Tax Credit Fund Limited Partnership - Series 2
PROPERTY PROFILES AS OF MARCH 31, 2001

|PropertyName           | Location          | Units | Mortgage
Balance
As Of12/31/00 | ConstructionCompletion | Qualified
Occupancy3/31/01 | Capital
Contrib-uted
|---------------------- | ----------------- | ----- | ------------------------------ | ---------------------- | -------------------------- | --------------------
|Annadale
Apartments    | Fresno,
CA        | 222   | $8,480,788                     | 06/90                  | 100%                       | $1,736,542          
|                       |                   |       |                                |                        |                            |                     
|Calexico
Village Apts. | Calexico,
CA      | 36    | 1,557,831                      | 04/90                  | 100%                       | 464,896             
|                       |                   |       |                                |                        |                            |                     
|Glenhaven
Park III     | Merced,
CA        | 15    | 485,634                        | 12/89                  | 100%                       | 490,000             
|                       |                   |       |                                |                        |                            |                     
|Glenhaven
Park         | Merced,
CA        | 12    | 390,477                        | 06/90                  | 100%                       | 395,300             
|                       |                   |       |                                |                        |                            |                     
|Heber II
Village
Apts. | Heber,
CA         | 24    | 1,087,854                      | 04/89                  | 100%                       | 345,000             
|                       |                   |       |                                |                        |                            |                     
|Redondo II
Apts.       | Westmorland,
CA   | 32    | 1,428,637                      | 07/90                  | 100%                       | 580,000             
|                       |                   |       |                                |                        |                            |                     
|Redwood
Creek Apts.    | McKinleyville,
CA | 48    | 1,761,085                      | 12/89                  | 100%                       | 688,572             
|                       |                   |       |                                |                        |                            |                     
|Thunderbird
Apartments | Mecca,
CA         | 54    | 2,584,717                      | 07/90                  | 100%                       | 1,012,157           

6

Boston Capital Tax Credit Fund Limited Partnership - Series 3
PROPERTY PROFILES AS OF MARCH 31, 2001

|PropertyName                      | Location          | Units | Mortgage
Balance
As Of12/31/00 | ConstructionCompletion | Qualified
Occupancy3/31/01 | Capital
Contrib-uted
|--------------------------------- | ----------------- | ----- | ------------------------------ | ---------------------- | -------------------------- | --------------------
|The 128
Park Street
Lodging House | Dorchester,
MA    | 16    | $  508,552                     | 07/88                  | 100%                       | $ 340,000           
|                                  |                   |       |                                |                        |                            |                     
|Ashley Senior
Center Apts.        | Ashland,
OR       | 62    | 1,769,374                      | 05/89                  | 100%                       | 495,500             
|                                  |                   |       |                                |                        |                           
|Belfast
Birches                   | Belfast,
ME       | 24    | 1,079,694                      | 05/89                  | 100%                       | 245,000             
|                                  |                   |       |                                |                        |                            |                     
|The Bowditch
School
Lodging House | Jamaica Plain,
MA | 50    | 1,604,674                      | 12/89                  | 100%                       | 883,623             
|                                  |                   |       |                                |                        |                            |                     
|Carriage Gate
Apartments          | Palatka,
FL       | 48    | 1,462,292                      | 11/89                  | 100%                       | 385,000             
|                                  |                   |       |                                |                        |                            |                     
|Central
Parkway Towers            | Cincinnati,
OH    | 225   | 2,800,000                      | 12/89                  | 100%                       | 4,482,818           
|                                  |                   |       |                                |                        |                            |                     
|Colony Court
Apartments           | Eustis,
FL        | 46    | 1,481,894                      | 06/89                  | 100%                       | 384,200             
|                                  |                   |       |                                |                        |                            |                     
|Crane Street
Court                | Littleton,
NH     | 33    | 1,466,497                      | 12/88                  | 100%                       | 293,000             
|                                  |                   |       |                                |                        |                            |                     
|Cruz Bay
Apartments               | St. John,
USVI    | 20    | 1,478,222                      | 02/89                  | 100%                       | 285,820             
|                                  |                   |       |                                |                        |                            |                     
|Fiddler's Creek
Apartments        | Southport,
NC     | 24    | 956,354                        | 02/89                  | 100%                       | 200,397             
|                                  |                   |       |                                |                        |                            |                     
|Gilmore Court                     | Jaffrey,
NH       | 28    | 1,375,486                      | 06/89                  | 100%                       | 288,660             
|                                  |                   |       |                                |                        |                            |                     
|Greenwood
Apartments              | Owosso,
MI        | 48    | 1,425,449                      | 08/89                  | 100%                       | 312,090             
|                                  |                   |       |                                |                        |                            |                     
|Hidden Cove
Apartments            | W.Pittsburg
CA    | 88    | 2,845,289                      | 08/88                  | 100%                       | 1,761,650           
|                                  |                   |       |                                |                        |                            |                     
|Hillmont
Apartments               | Lake Park,
GA     | 42    | 1,127,960                      | 05/89                  | 100%                       | 265,218             

7

Boston Capital Tax Credit Fund Limited Partnership - Series 3
PROPERTY PROFILES AS OF MARCH 31, 2001

Continued

|PropertyName             | Location         | Units | Mortgage
Balance
As Of12/31/00 | ConstructionCompletion | Qualified
Occupancy3/31/01 | Capital
Contrib-uted
|------------------------ | ---------------- | ----- | ------------------------------ | ---------------------- | -------------------------- | --------------------
|Jackson
Apartments       | Jackson,
WY      | 28    | $1,182,659                     | 07/89                  | 100%                       | $ 225,000           
|                         |                  |       |                                |                        |                            |                     
|Lake North
Apartments    | Lady Lake,
FL    | 36    | 1,049,962                      | 01/89                  | 100%                       | 220,780             
|                         |                  |       |                                |                        |                           
|Lakewood Terr
Apartments | Lakeland,
FL     | 132   | 3,661,152                      | 08/89                  | 100%                       | 572,400             
|                         |                  |       |                                |                        |                            |                     
|Lincoln
Apartments       | Salem,
MA        | 63    | 2,986,908                      | 12/88                  | 100%                       | 520,000             
|                         |                  |       |                                |                        |                            |                     
|Mann Village
Apartments  | Indianapolis,
IN | 204   | 5,452,750                      | 05/89                  | 98%                        | 2,620,620           
|                         |                  |       |                                |                        |                            |                     
|Maplewood
Apartments     | Cloquet,
MN      | 24    | 750,793                        | 04/89                  | 100%                       | 150,800             
|                         |                  |       |                                |                        |                            |                     
|Mound Plaza
Apartments   | Moundville,
AL   | 24    | 618,281                        | 09/89                  | 100%                       | 129,465             
|                         |                  |       |                                |                        |                            |                     
|Oak Crest
Manor II       | Brainerd,
MN     | 30    | 901,999                        | 05/89                  | 100%                       | 168,130             
|                         |                  |       |                                |                        |                            |                     
|Orangewood
Villas        | Umatilla,
FL     | 45    | 1,465,252                      | 09/89                  | 98%                        | 358,350             
|                         |                  |       |                                |                        |                            |                     
|Orchard Park
Apartments  | Beaumont,
CA     | 144   | 3,754,107                      | 05/89                  | 100%                       | 2,950,000           
|                         |                  |       |                                |                        |                            |                     
|Paige Hall
Apartments    | Minneapolis,
MN  | 69    | 2,253,150                      | 04/89                  | 100%                       | 378,538             
|                         |                  |       |                                |                        |                            |                     
|Queens
Court Apts.       | Philadelphia,
PA | 32    | 968,862                        | 01/89                  | 100%                       | 759,500             
|                         |                  |       |                                |                        |                            |                     
|Rainbow
Apartments       | Yuma,
AZ         | 81    | 1,865,959                      | 01/89                  | 70%                        | 702,968             
|                         |                  |       |                                |                        |                            |                     
|Ripon
Apartments         | Ripon,
WI        | 24    | 845,311                        | 07/89                  | 100%                       | 176,260             

8

Boston Capital Tax Credit Fund Limited Partnership - Series 3
PROPERTY PROFILES AS OF MARCH 31, 2001

Continued

|PropertyName               | Location          | Units | Mortgage
Balance
As Of12/31/00 | ConstructionCompletion | Qualified
Occupancy3/31/01 | Capital
Contrib-uted
|-------------------------- | ----------------- | ----- | ------------------------------ | ---------------------- | -------------------------- | --------------------
|Sun Village
Apartments     | Groveland,
FL     | 34    | $1,040,437                     | 05/88                  | 100%                       | $ 211,880           
|                           |                   |       |                                |                        |                            |                     
|Taylor 
Terrace
Apartments | W. Pittsburgh,
PA | 30    | 1,046,358                      | 11/88                  | 100%                       | 227,103             
|                           |                   |       |                                |                        |                            |                     
|The Grove
Apartments       | Vidalia,
GA       | 54    | 1,473,491                      | 05/89                  | 100%                       | 345,621             
|                           |                   |       |                                |                        |                            |                     
|Trinidad
Apartments        | Trinidad,
CO      | 24    | 913,155                        | 06/89                  | 100%                       | 202,000             
|                           |                   |       |                                |                        |                           
|Vassar
Apartments          | Vassar,
MI        | 32    | 912,964                        | 11/89                  | 100%                       | 189,596             

9

Boston Capital Tax Credit Fund Limited Partnership - Series 4
PROPERTY PROFILES AS OF MARCH 31, 2001

|PropertyName                  | Location          | Units | Mortgage
Balance
As Of12/31/00 | ConstructionCompletion | Qualified
Occupancy3/31/01 | Capital
Contrib-uted
|----------------------------- | ----------------- | ----- | ------------------------------ | ---------------------- | -------------------------- | --------------------
|Amory Square
Apartments       | Windsor,
VT       | 74    | $2,072,693                     | 09/89                  | 100%                       | $1,644,338          
|                              |                   |       |                                |                        |                            |                     
|Auburn Trace                  | Delray Beach,
FL  | 256   | 9,749,058                      | 01/90                  | 100%                       | 2,849,298           
|                              |                   |       |                                |                        |                            |                     
|Ault
Apartments               | Ault,
CO          | 16    | 485,100                        | 07/89                  | 100%                       | 92,232              
|                              |                   |       |                                |                        |                            |                     
|Berkshire
Apartments          | Wichita,
KS       | 90    | 1,943,868                      | 09/89                  | 100%                       | 1,829,104           
|                              |                   |       |                                |                        |                            |                     
|Bowditch
School
Lodging House | Jamaica Plain,
MA | 50    | 1,604,674                      | 12/89                  | 100%                       | 619,300             
|                              |                   |       |                                |                        |                            |                     
|Burlwood
Apartments           | Cripple
Creek, CO | 10    | 367,946                        | 08/89                  | 100%                       | 45,600              
|                              |                   |       |                                |                        |                            |                     
|Cambria
Commons               | Cambria,
NY       | 24    | 1,034,192                      | 07/89                  | 100%                       | 367,600             
|                              |                   |       |                                |                        |                           
|Central
Parkway
Towers        | Cincinnati,
OH    | 225   | 2,800,000                      | 12/89                  | 100%                       | 944,322             
|                              |                   |       |                                |                        |                            |                     
|Clearview
Apartments          | Monte Vista,
CO   | 24    | 750,138                        | 11/89                  | 100%                       | 166,400             
|                              |                   |       |                                |                        |                            |                     
|Fuller
Townhomes              | St. Paul,
MN      | 9     | 483,132                        | 01/89                  | 100%                       | 254,671             
|                              |                   |       |                                |                        |                            |                     
|Glenhaven
Park II             | Merced,
CA        | 15    | 483,149                        | 06/89                  | 100%                       | 415,000             
|                              |                   |       |                                |                        |                           
|Greenwood
Terrace             | Quincy,
FL        | 36    | 1,070,897                      | 09/89                  | 100%                       | 282,000             
|                              |                   |       |                                |                        |                           
|Highland
Village
Duplexes     | Topeka,
KS        | 22    | 347,679                        | 12/88                  | 100%                       | 354,067             

10

Boston Capital Tax Credit Fund Limited Partnership - Series 4
PROPERTY PROFILES AS OF MARCH 31, 2001

Continued

|PropertyName               | Location           | Units | Mortgage
Balance
As Of12/31/00 | ConstructionCompletion | Qualified
Occupancy3/31/01 | Capital
Contrib-uted
|-------------------------- | ------------------ | ----- | ------------------------------ | ---------------------- | -------------------------- | --------------------
|Jefferson Pl
Apartments    | Monticello,
FL     | 38    | $1,096,701                     | 12/89                  | 100%                       | $  294,150          
|                           |                    |       |                                |                        |                            |                     
|Landmark
Apartments        | Chesapeake,
VA     | 120   | 1,681,237                      | 05/89                  | 100%                       | 1,470,835           
|                           |                    |       |                                |                        |                            |                     
|Meadowcrest
Apartments     | Southfield,
MI     | 83    | 2,855,916                      | 10/90                  | 100%                       | 1,055,404           
|                           |                    |       |                                |                        |                           
|Milliken
Apartments        | Milliken,
CO       | 28    | 853,353                        | 08/89                  | 100%                       | 135,000             
|                           |                    |       |                                |                        |                            |                     
|Montana Ave.
Townhomes     | St. Paul,
MN       | 13    | 639,003                        | 11/89                  | 100%                       | 430,167             
|                           |                    |       |                                |                        |                            |                     
|New Grand
Hotel            | Salt Lake
City,UT  | 80    | 2,795,886                      | 03/90                  | 100%                       | 2,823,370           
|                           |                    |       |                                |                        |                           
|Rosenberg
Hotel            | Santa Rosa,
CA     | 77    | 1,780,013                      | 01/92                  | 100%                       | 844,300             
|                           |                    |       |                                |                        |                            |                     
|Shockoe Hill
Apartments II | Richmond,
VA       | 64    | 1,845,899                      | 09/89                  | 100%                       | 1,110,590           
|                           |                    |       |                                |                        |                            |                     
|Sunnyview
Apartments       | Salem,
OR          | 60    | 2,200,000                      | 09/89                  | 100%                       | 775,000             
|                           |                    |       |                                |                        |                            |                     
|Thompson
Village Apts.     | Indian-apolis, 
IN | 240   | 5,337,022                      | 12/89                  | 100%                       | 2,098,660           
|                           |                    |       |                                |                        |                            |                     
|Van Dyke
Estates
XVI - A   | Sanger,
CA         | 16    | 626,941                        | 11/89                  | 100%                       | 474,360             

11

Boston Capital Tax Credit Fund Limited Partnership - Series 5
PROPERTY PROFILES AS OF MARCH 31, 2001

|Property Name               | Location        | Units | Mortgage
Balance
As Of12/31/00 | ConstructionCompletion | Qualified
Occupancy3/31/01 | Capital
Contrib-uted
|--------------------------- | --------------- | ----- | ------------------------------ | ---------------------- | -------------------------- | --------------------
|Annadale
Apartments         | Fresno,
CA      | 222   | $8,480,788                     | 06/90                  | 100%                       | $1,161,810          
|                            |                 |       |                                |                        |                            |                     
|Calexico
Village
Apartments | Calexico,
CA    | 36    | 1,557,831                      | 04/90                  | 100%                       | 128,174             
|                            |                 |       |                                |                        |                            |                     
|Glenhaven
Estates           | Merced,
CA      | 13    | 640,879                        | 06/89                  | 100%                       | 356,480             
|                            |                 |       |                                |                        |                           
|Heather Ridge
Apartments    | Redding,
CA     | 56    | 955,081                        | 09/89                  | 100%                       | 1,182,030           
|                            |                 |       |                                |                        |                            |                     
|Point Arena
Village         | Point Arena,
CA | 25    | 1,194,280                      | 02/90                  | 100%                       | 444,830             

12

Boston Capital Tax Credit Fund Limited Partnership - Series 6
PROPERTY PROFILES AS OF MARCH 31, 2001

|Property Name             | Location          | Units | Mortgage
Balance
As Of12/31/00 | ConstructionCompletion | Qualified
Occupancy3/31/01 | Capital
Contrib-uted
|------------------------- | ----------------- | ----- | ------------------------------ | ---------------------- | -------------------------- | --------------------
|Auburn Trace              | Delray Beach,
FL  | 256   | $9,749,058                     | 01/90                  | 100%                       | $1,971,457          
|                          |                   |       |                                |                        |                            |                     
|Briarwood
Estates         | Cameron,
MO       | 24    | 564,994                        | 09/88                  | 100%                       | 137,367             
|                          |                   |       |                                |                        |                            |                     
|Columbia
Park Apts.       | Richland,
WA      | 139   | 3,277,553                      | 02/90                  | 100%                       | 1,607,375           
|                          |                   |       |                                |                        |                            |                     
|Eldon Estates             | Eldon,
MO         | 24    | 549,021                        | 07/88                  | 100%                       | 139,221             
|                          |                   |       |                                |                        |                           
|Forty West
Apartments     | Holland,
MI       | 120   | 1,923,668                      | 02/90                  | 100%                       | 1,431,562           
|                          |                   |       |                                |                        |                            |                     
|Hacienda Villa
Apartments | Firebaugh,
CA     | 120   | 3,780,297                      | 01/90                  | 100%                       | 1,460,316           
|                          |                   |       |                                |                        |                            |                     
|Hillandale
Commons        | Lithonia,
GA      | 132   | 3,043,339                      | 01/90                  | 100%                       | 1,444,800           
|                          |                   |       |                                |                        |                            |                     
|Kearney
Properties II     | Kearney,
MO       | 16    | 360,102                        | 03/88                  | 100%                       | 99,334              
|                          |                   |       |                                |                        |                            |                     
|Los Pueblos
Apartments    | Socorro,
NM       | 32    | 1,240,059                      | 05/88                  | 100%                       | 414,851             
|                          |                   |       |                                |                        |                           
|Pleasant Hill             | Pleasant Hill,
MO | 24    | 556,676                        | 12/88                  | 100%                       | 141,624             
|                          |                   |       |                                |                        |                            |                     
|Rosenberg
Apartments      | Santa Rosa,
CA    | 77    | 1,780,013                      | 01/92                  | 100%                       | 555,700             
|                          |                   |       |                                |                        |                            |                     
|Sherburne
Senior Housing  | Sherburne,
NY     | 29    | 1,299,948                      | 10/89                  | 100%                       | 578,409             
|                          |                   |       |                                |                        |                            |                     
|Springridge
III           | Warrensburg,
MO   | 24    | 565,465                        | 02/88                  | 100%                       | 162,393             
|                          |                   |       |                                |                        |                            |                     
|Tall Pines
Apartments     | Charlestown,
NH   | 32    | 1,419,682                      | 11/89                  | 100%                       | 302,491             
|                          |                   |       |                                |                        |                           
|Woodcliff
Apartments      | Ishpeming,
MI     | 24    | 751,888                        | 11/89                  | 100%                       | 192,996             

13

|Item 3. | Legal Proceedings                                  
|------- | ---------------------------------------------------
|        |                                                    
|        | None.                                              
|        |                                                    
|Item 4. | Submission of Matters to a Vote of Security Holders
|        |                                                    
|        | None.                                              

14

PART II
Item 5.	Market for the Partnership's Limited Partnership Interests
		and Related Partnership Matters
	(a)	Market Information
	The Partnership is classified as a limited partnership and
	thus has no common stock.  There is no established public trading
	market for the BACs and it is not anticipated that any public
	market will develop.
	(b)	Approximate number of security holders.
	As of March 31, 2001, the Partnership has 7,388 registered
	BAC Holders for an aggregate of 9,800,600 BACs which were
	offered a subscription price of $10 per BAC.
	The BACs were issued in series.  Series 1 had 1,034
	investors holding 1,299,900 BACs; Series 2 had 727 investors
	holding 830,300 BACs; Series 3 had 2,330 investors holding
	2,882,200 BACs; Series 4 had 2,078 investors holding 2,995,300
	BACs; Series 5 had 387 investors holding 489,900 BACs; and Series
	6 had 832 investors holding 1,303,000 BACs.
	(c)	Dividend history and restriction.
	The Partnership has made no distributions of Net Cash Flow
	to its BAC Holders from its inception, June 1, 1988 through March
	31, 2001.
	The Partnership made a return of equity distribution to
	the Limited Partners in the amount of $350,003 during the year
	ended March 31, 1992.  The distribution was the result of
	certain Operating Partnerships not achieving their projected tax
	credits.
	The Partnership Agreement provides that Profits, Losses
	and Credits will be allocated each month to the holder of record
	of a BAC as of the last day of such month.  Allocation of
	Profits, and Credits among BAC Holders will be made in
	proportion to the number of BACs held by each BAC Holder.
	Any distributions of Net Cash Flow or Liquidation, Sale or
	Refinancing Proceeds will be made within 180 days of the end of
	the annual period to which they relate. Distributions will be
	made to the holders of record of a BAC as of the last day of each
	month in the ratio which (i) the BACs held by such Person on the
	last day of the calendar month bears to (ii) the aggregate number
	of BACs outstanding on the last day of such month.
	Partnership allocations and distributions are described on
	pages 99 to 103 of the Prospectus, as supplemented, which  are
	incorporated herein by reference.

15

Item 6.	Selected Financial Data
The information set forth below presents selected financial data
of the Partnership for each of the five years in the period ended March
31, 2001.  Additional detailed financial information is set forth in the
audited financial statements listed in Item 14 hereof.Operations

|                                                                                                                       | March 31,2001 | March 31,2000 | March 31,1999 | March 31,1998 | March 31,1997
|---------------------------------------------------------------------------------------------------------------------- | ------------- | ------------- | ------------- | ------------- | -------------
|                                                                                                                      
|                                                                                                                      
|                                                                                                                       |               |               |               |               |              
|Interest Income                                                                                                        | $     3,255   | $     3,362   | $     4,355   | $    16,039   | $     7,074  
|Other Income                                                                                                           | 1,266         | 888           | -             | 813           | 2,910        
|Share of Loss
of operating
Partnerships                                                                                | (1,691,359)   | (1,797,917)   | (4,256,419)   | (4,676,547)   | (1,453,320)  
|Operating Exp.                                                                                                         | (1,000,088)   | (1,058,874)   | (5,088,524)   | (1,096,282)   | (1,081,835)  
|                                                                                                                       |               |               |               |               |              
|Net Loss                                                                                                               | (2,686,926)   | (2,852,541)   | (9,340,588)   | (5,755,977)   | (2,525,171)  
|                                                                                                                       |               |               |               |               |              
|Net Loss
per BAC$                                                                                                      | $     (.27)   | $     (.29)   | $     (.94)   | $     (.58)   | $     (.26)  
|                                                                                                                       |               |               |               |               |              
|Balance Sheet                                                                                                          |               |               |               |               |              
|                                                                                                                       |               |               |               |               |              
|Total Assets                                                                                                           | $10,428,373   | $12,057,796   | $13,845,884   | $22,097,154   | $26,710,863  
|                                                                                                                       |               |               |               |               |              
|Total Liab.                                                                                                            | $9,091,047    | $8,033,544    | $6,969,091    | $5,879,773    | $4,737,505   
|Partners'
 Equity                                                                                                      | $1,337,326    | $4,024,252    | $6,876,793    | $16,217,381   | $21,973,358  
|                                                                                                                       |               |               |               |               |              
|Other Data                                                                                                             |               |               |               |               |              
|                                                                                                                       |               |               |               |               |              
|Tax Credits per BAC for
the Investors Tax Year,
the twelve months ended
December 31, 2000, 1999,
1998, 1997, and 1996* | $.15          | $.76          | $1.20         | $1.24         | $1.25        
|                                                                                                                       |               |               |               |               |              

*Credit per BAC is a weighted average of all the Series.  Since each Series has invested as a limited partner in different Operating Partnerships the Credit per BAC will vary slightly.  For more detailed information refer to Item 7. Results of Operations.

16

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

Liquidity
The Partnership's primary source of funds was the proceeds of its public
offering.  Other sources of liquidity include  (i) interest earned on capital
contributions held pending investment or held for working capital reserves and
(ii) cash distributions from operations of the Operating Partnerships in which
the Partnership has invested.  These sources of liquidity are available to
meet the obligations of the Partnership.  The Partnership is currently
accruing the annual partnership management fees, which allows each series the
ability to pay non-affiliated third party obligations.  During the fiscal year
ended March 31, 2001 the Partnership accrued $951,072 in annual partnership
management fees.  As of March 31, 2001, total partnership management fees
accrued were $8,351,254.  Pursuant to the Partnership Agreement, such
liabilities will be deferred until the Partnership receives sales or
refinancing proceeds from Operating Partnerships which will be used to satisfy
such liabilities.
An affiliate of the general partner has advanced $650,129 to the
Partnership to pay certain third party operating expenses and to make advances 
and/or loans to Operating Partnerships.  The amounts advanced to four of the 
six series are as follows: $84,810 to Series 1; $65,500 to Series 2; $166,829 
to Series 3; and $332,990 to Series 4.  These and any additional advances will 
be paid, without interest, from available cash flow, reporting fees, or the 
proceeds of sales or refinancing of the Partnership's interests in Operating 
Partnerships.  The Partnership anticipates that as the Operating Partnerships 
continue to mature, more cash flow and reporting fees will be generated.  Cash 
flow and reporting fees will be added to the Partnership's working capital and 
will be available to meet future third party obligations of the Partnership.  
The Partnership is currently pursuing, and will continue to pursue, available 
cash flow and reporting fees and anticipates that the amount collected will be 
sufficient to cover third party expenses.Capital Resources
The Partnership offered BACs in a public offering declared effective by
the Securities and Exchange Commission on August 29, 1988.  The Partnership
received and accepted subscriptions for $97,746,940 representing 9,800,600
BACs from investors admitted as BAC Holders in Series 1 through Series 6 of
the Partnership.
Offers and sales of BACs in Series 1 through Series 6 of the Partnership
were completed and the last of the BACs in Series 6 were issued by the
Partnership on September 29, 1989.
(Series 1).  The Partnership received and accepted subscriptions
for $12,999,000, representing 1,299,900 BACs from investors admitted as BAC
Holders in Series 1.  Offers and sales of BACs in Series 1 were completed and
the last of the BACs in Series 1 were issued on December 14, 1988.

17

As of March 31, 2001, the net proceeds from the offer and sale of BACs
in Series 1 had been used to invest in a total of 18 Operating Partnerships in
an aggregate amount of $9,407,952, and the Partnership had completed payment
of all installments of its capital contributions.  Series 1 had $6,094 in 
Working Capital at March 31, 2001.
(Series 2).  The Partnership received and accepted subscriptions for
$8,303,000, representing 830,300 BACs from investors admitted as BAC Holders
in Series 2.  Proceeds from the sale of BACs in Series 2 were invested in
Operating Partnerships owning apartment complexes located in California only,
which generate both California and Federal Housing Tax Credits.  Offers and
sales of BACs in Series 2 were completed and the last of the BACs in Series 2
were issued by the Partnership on March 30, 1989.
As of March 31, 2001, the net proceeds of the offer and sale of BACs in
Series 2 had been used to invest in a total of 8 Operating Partnerships in
an aggregate amount of $6,498,176, and the Partnership had completed payment
of all installments of its capital contributions.  Series 2 had $5,977 in 
Working Capital at March 31, 2001.
(Series 3).  The Partnership received and accepted subscriptions for
$28,822,000, representing 2,882,200 BACs from investors admitted as BAC
Holders in Series 3.  Offers and sales of BACs in Series 3 were completed
and the last of the BACs in Series 3 were issued by the Partnership on March
14, 1989.
As of March 31, 2001, the net proceeds from the offer and sale of BACs
in Series 3 had been used to invest in a total of 33 Operating Partnerships in
an aggregate amount of $21,738,797, and the Partnership had completed payment
of all installments of its capital contributions to all of its Operating
Partnerships.  Series 3 had $5,293 in Working Capital at March 31, 2001.
(Series 4).  The Partnership commenced offering BACs in Series 4 on
March 27, 1989.  The Partnership received and accepted subscriptions for
29,788,160, representing 2,995,300 BACs from investors admitted as BAC Holders
in Series 4.  Offers and sales of BACs in Series 4 were completed and the last
of the BACs in Series 4 were issued by the Partnership on July 7, 1989.
As of March 31, 2001, the net proceeds from the offer and sale of BACs
in Series 4 had been used to invest in a total of 24 Operating Partnerships in
an aggregate amount of $22,934,082, and the Partnership had completed payment
of all installments of its capital contributions to all of its Operating
Partnerships.  Series 4 had $27,998 in Working Capital at March 31, 2001.
(Series 5).  The Partnership commenced offering BACs in Series 5 on June
19, 1989.  The Partnership received and accepted subscriptions for $4,899,000,
representing 489,900 BACs from investors admitted as BAC Holders in Series 5.

18

Proceeds from the sale of BACs in Series 5 were invested in Operating
Partnerships owning apartment complexes located in California only, which
generate both California and Federal Housing Tax Credits.  Offers and sales of
BACs in Series 5 were completed and the last of the BACs in Series 5 were
issued by the Partnership on August 22, 1989.
As of March 31, 2001, the net proceeds of the offer and sale of BACs in
Series 5 had been used to invest in a total of 5 Operating Partnerships in
an aggregate amount of $3,431,044, and the Partnership had completed payment
of all installments of its capital contributions. Series 5 had $96,768 in 
Working Capital at March 31, 2001.
(Series 6).  The Partnership commenced offering BACs in Series 6 on July
18, 1989.  The Partnership received and accepted subscriptions for
$12,935,780, representing 1,303,000 BACs from investors admitted as BAC
Holders in Series 6.  Offers and sales of BACs in Series 6 were completed and
the last of the BACs in Series 6 were issued by the Partnership on September
29, 1989.
As of March 31, 2001 the net proceeds from the offer and sale of BACs in
Series 6 had been used to invest in a total of 15 Operating Partnerships in an
aggregate amount of $10,652,631, and the Partnership had completed payment of
all installments of its capital contributions to all of its Operating
Partnerships.  Series 6 had $52,745 in Working Capital at March 31, 2001.Results of Operations
The Partnership incurs an annual partnership management fee payable to
the General Partner and/or its affiliates in an amount equal to 0.375% of the
aggregate cost of the Apartment Complexes owned by the Operating Partnerships,
less the amount of certain partnership management and reporting fees paid or
payable by the Operating Partnerships.  The annual partnership management fee
incurred for the fiscal years ended March 31, 2001 and 2000 was $858,356 and
$914,669, respectively, an amount which is anticipated to be lower for
subsequent fiscal years as more of the Operating Partnerships begin to pay 
accrued and annual partnership management and reporting fees.  During 
the fiscal years ended March 31, 2001 and 2000, the Partnership received 
$92,716 and $40,039, respectively, in reporting fees from the Operating 
Partnerships.
The Partnership's investment objectives do not include receipt of significant 
cash distributions from the Operating Partnerships in which it has invested.  
The Partnership's investments in Operating Partnerships have been made 
principally with a view towards realization of Federal Housing Tax
Credits for allocation to its partners and BAC holders. 
All series in Boston Capital Tax Credit Fund Limited Partnership experienced a 
decrease in the tax credits generated per BAC from calendar year 1999 to 2000. 
The Operating Partnerships were allocated tax credits for 10 years.  Based on 
each Operating Partnership's lease-up, the total credits could be spread over 
as many as 13 years.  In cases where the actual number of years is more than 
10, the credits delivered in the early and later years will be less than the 
maximum allowable per year.  The decrease in credits for the year 2000 results 
from the fact that a large number of the Operating in their next to last

19

or final year of credit in 2000.  The decrease in tax credits generated per 
BAC is expected to continue into calendar year 2001, when the rest of the 
Operating Partnerships complete their respective credit periods.
(Series 1).  As of March 31, 2001 and 2000, the Qualified Occupancy for
the Series was 100%.  The Series had a total of 18 properties at March 31, 
2001, all of which were at 100% qualified occupancy.
For the tax years ended December 31, 2000 and 1999, the Series, in
total, generated $1,826,627 and $1,807,345 respectively, in passive income
tax losses that were passed through to the investors, and also provided $0.35 
and $0.11, respectively, in tax credits per BAC to the investors.
For the years ended December 31, 2000 and 1999 Series 1 reflects a net
loss from Operating Partnerships of $41,281 and $3,137,895, respectively,
when adjusted for depreciation which is a non-cash item.  In 1999, Kingston 
Property Associates (Broadway East Townhomes) recorded a non-cash impairment 
loss of $2,664,114.  When adjusted for the impairment losses in addition to 
depreciation, the series reflects a net loss for 1999 of $473,751.
Substantially all of the adjusted net loss for 2000 and 1999 is attributable 
to accrued mortgage interest not payable currently by Genesee Commons 
Associates (River Park Commons), Kingston Property Associates (Broadway East 
Townhomes), and for 1999 only Unity Park Associates (Unity Park Phase II). As 
mentioned in previous filings, the Operating General Partner of Unity Park 
Associates negotiated a Deed-in-lieu transfer of ownership with the state of 
New York.  In November of 2000, Unity Park Phase II was deeded to the state of 
New York.  As a result of transfer, the overall credit yield for 2000 was 
(1.45%) due to the recapture.  The other two partnerships have forbearance 
agreements in place allowing the properties to pay minimal mortgage payments 
while the properties continue to accrue all interest payments due. Both 
properties also received loans from the state housing agency, which were used 
to complete rehabilitation work.  Operations at both Genesse Commons 
Associates and Kingston Property Associates remain weak.  The current 
occupancy levels are 90% at Genesse and 77% at Kingston.  However, recently 
Kingston has begun receiving residents from the local social service agency 
and as a result, the property anticipates improved occupancy levels.  Although 
 forbearance agreements are in place, the properties have not made debt 
service payments for 1999 and 2000.  At this time, the mortgagee has not taken 
any adverse actions.  The Investment General Partner will continue to monitor 
the situation.
The properties owned by Townhomes of Minnehaha Court (Minnehaha Court 
Apartments) and Virginia Circle (Virginia Circle Townhomes) have shown 
improved operating results but continue to incur high operating expenses.  
During 2000, the properties were able to operate without financial assistance 
from the Operating General Partner and generated positive cash flow.  This 
improvement in operations is expected to continue.  Minnesota Housing Finance 
Agency has continued their commitment to support improved operations by 
granting interest free mortgage loans to Townhomes of Minnehaha and Virginia 
Circle to correct deferred maintenance issues.  All of the exterior items at 
each property have been completed and the remaining maintenance items will be 
completed as units turnover.

20

(Series 2).  As of March 31, 2001 and 2000, the Qualified Occupancy for
the series was 100%.  The Series had a total of 8 properties at March 31, 2001, 
all of which were at 100% qualified occupancy.
For the tax years ended December 31, 2000 and 1999, the Series, in
total, generated $798,406 and $895,002, respectively, in passive income tax 
losses that were passed through to the investors, and also provided $0.36 and 
$0.96, respectively, in tax credits per BAC to the investors.
For the years ended December 31, 2000 and 1999 Series 2 reflects a net
income (loss) from Operating Partnerships of $598,084 and ($1,046,210), 
respectively, when adjusted for depreciation which is a non-cash item. 
The improved operations were mainly the result of a debt restructure by one of 
the operating partnerships.
Annadale Housing Partners (Kingsview Manor & Estates) has previously reported 
net losses due to operational issues associated with the property.  Average 
occupancy for the year 2000 was 93.54%.  In order to reduce operating costs, a 
loan restructure was finalized with the first mortgage lender.  The monthly 
mortgage payments were reduced by 79%, thereby alleviating the property of a 
large monthly cash obligation.  The payment to the first mortgage holder was 
funded through the sale of a portion of the Operating Partnership's future 
credit stream.  With the additional cash available from a lower monthly debt 
service payment and increased rental rates, property operations are 
anticipated to improve significantly over prior years.  As of December 31, 
2000, the property maintained break-even operations.  Occupancy remains stable 
at 93% on March 31, 2001.  The Investment General Partner continues to monitor 
this situation closely.  Negotiations have been concluded with a third party 
to have them assume General Partner responsibilities and management for the 
partnership.  This transfer was effective January 1, 2001.
The properties owned by Haven Park Partners III, A California L.P. (Glenhaven 
Park III) and Haven Park Partners IV, A California L.P. (Glenhaven Park IV) 
continue to suffer from high operating expenses compared to operating income.  
Effective October 4th, San Mar Properties of Fresno, California assumed the 
role of management agent.  An affiliate of San Mar Properties, Central Valley 
Affordable Housing LLC, assumed the General Partner interest effective 
December 31, 2000.  It is anticipated that the localized management and 
ownership presence will allow the properties to operate in a more cost 
effective manner.  Occupancy at Haven Park III has stabilized as a result of 
the efforts of the new management company.  As of March 31, 2001 physical 
occupancy at Haven Park III was 100%.  Occupancy at Haven Park IV decreased to 
83% at March 31, 2001 due to an unexpected turnover of units.  Management is 
confident that occupancy will improve in the next quarter.  
(Series 3).  As of March 31, 2001 and 2000, the Qualified Occupancy for
the Series was 99.0% and 99.7%, respectively.  The Series had a total of 33
properties at March 31, 2001.  Out of the total, 30 were at 100% qualified
occupancy.
For the tax years ended December 31, 2000 and 1999, the Series, in
total, generated $1,792,279 and $2,532,433, respectively, in passive income
tax losses that were passed through to the investors, and also provided $0.05 
and $0.60, respectively, in tax credits per BAC to the investors.
For the years ended December 31, 2000 and 1999 Series 3 reflects a net
income from Operating Partnerships of $58,793 and $121,626, respectively, when 
adjusted for depreciation which is a non-cash item.

21

Lakewood Terrace Limited Partnership (Lakewood Terrace Apartments) operated at 
breakeven for the first quarter of 2001 and occupancy continues to be strong 
at 100%. The Operating General Partner has been successful in securing 
a four (4) year rental assistance contract with HUD and has also been granted 
a 2.2% rental increase.  The increase in rents and continued high occupancy 
has financially assisted the partnership.
The Investment General Partner continues to monitor the operations of Lincoln 
Hotel Associates (Lincoln Apartments) in an effort to improve the overall 
operations of the series.  As of March 31, 2001 the physical occupancy of 
the property was 97%.  The management company, with the assistance of area 
housing agencies and a more thorough screening process, has greatly improved 
the occupancy.  The improved occupancy, along with expense reductions, has 
resulted in an audited net income from operations of $108,039.  However after 
depreciation and interest expense the property overall has a net loss of 
($167,834) and expended cash of ($19,686)for the year ended December 31, 2000. 
During the first quarter of 2001, the property had unaudited net income of 
$5,531 and generated cash flow of approximately $11,000.  The improved cash 
position is a direct result of the property performing maintenance work during 
the latter part of 2000 which had been originally scheduled for 2001.  
The property owned by California Investors VI LP (Orchard Park) had an average 
occupancy of 96% for 2000. This stability has been the result of the 
management company's aggressive marketing efforts and the many capital 
improvements completed at the property, including office renovations and the 
addition of an activity center.  These improvements have been successful in 
attracting and retaining tenants.  The property's surrounding area is 
experiencing economic growth which includes a major public sports park which 
opened in September of 2000.  The park is essentially a complex of ball fields 
and soccer fields with a central concession area.  Attendance has been fairly 
good since the park opened and is expected to increase dramatically once 
leagues are formed for the children in the community.  In addition to the 
park, a high school is in the process of being built.  Work has continued on 
the new school that will be located across the street from the front entrance 
of the development.  Site preparation continues and the framing of the 
building structure is expected to begin in the next month or two. These types 
of public developments in the area should continue to increase the quantity of 
automobile traffic around Orchard Park and in turn should continue to assist 
with marketing efforts.  The community has experienced an increased level 
of interest over the last several months from prospective new tenants.  There 
is now a waiting list for units and this has enabled the property management 
staff to be much more aggressive in dealing with the problem tenants. 
Negotiations have concluded with a third party to have them assume General 
Partner responsibilities and management for the partnership.  This transfer 
was effective January 1, 2001.       
Operations continue to improve at Hidden Cove Apartments (Hidden Cove) as 
evidenced by stabilized occupancy and increased rental collections.  Occupancy 
for the first quarter of 2001 averaged 99%.  To date the property has been 
able to complete minor capital improvements and fund its replacement reserve 
account without financial assistance.  The property operated above breakeven 
for the year 2000.  The Operating General Partner has completed negotiations 
with the property's management company and has transferred the Operating 
General Partnership interest to that entity effective January 1, 2001.

22

It is anticipated that the addition of a local Operating General 
Partner will enhance the property's ability to refinance its permanent 
mortgage. 
Occupancy at Central Parkway Towers (Central Parkway Towers) improved 
slightly during the first four months of 2001 to 76% from 2000's average 
occupancy of %67.  The Management Company continues to work with city, state, 
federal, and non-profit agencies to expand tenant referrals and housing 
contracts. The Operating General Partner negotiated a restructure of 
the lease payments to the greater of monthly cash flow or $3,000/month, with 
the balance deferred.  The reduced lease payment agreement expired December of 
2000 with the deferred lease payments of $12,000 due June 30, 2001.  
Currently, the Operating General Partner is negotiating to defer payments 
through January 2002.  In addition, the Operating General Partner's operating 
deficit obligation has expired, however, it is currently participating in 
funding shortfalls.  The properties overall financial position remains 
relatively unchanged, and Accounts Payable and Accrued Expenses have been 
increased from previous levels.   
The Operating General Partner of Rainbow Housing Associates (Rainbow 
Apartments) has notified the Investment General Partner that the State Housing 
Credit Agency has filed Form 8823 with the Internal Revenue Service indicating 
certain instances of non-compliance with IRS Section 42 code and regulations. 
The Operating General Partner engaged legal counsel to respond to the content 
of Form 8823.  The General Partner submitted a formal response to the State 
Agency but has not received a reply to date.  The Investment Limited Partner 
engaged legal tax counsel to review Form 8823 and to provide a legal opinion 
to a potential recapture.  It was the opinion of the Investment Limited 
Partner's legal tax counsel that any potential recapture of tax credits, if 
that were to occur, would encompass only three prior years.  The investment 
Limited Partner is continuing to closely monitor the possible recapture of 
credits and is working closely with legal counsel to minimize the possible 
risk to the partnership.  At this time, the Operating General Partner, its 
counsel and counsel to the Investment Limited Partner do not anticipate an 
outcome that would have a material effect on the Partnership.
(Series 4).  As of March 31, 2001 and 2000, the Qualified Occupancy for
the series was 100%.  The Series had a total of 24 properties at March 31,
2001, all of which were at 100% qualified occupancy.
For the tax years ended December 31, 2000 and 1999, the Series, in
total, generated $2,331,820 and $2,360,937, respectively, in passive income
tax losses that were passed through to the investors, and also provided $0.04 
and $0.95, respectively, in tax credits per BAC to the investors.
For the years ended December 31, 2000 and 1999 Series 4 reflects a net
loss from Operating Partnerships of $61,506 and $733,438, respectively, when 
adjusted for depreciation which is a non-cash item.  The improved operations
were mainly a result of the removal of one of the Operating Partnerships.
As mentioned in previous filings, the Operating General Partner of Unity Park 
Associates (Unity Park Phase II) negotiated a Deed-in-lieu transfer of 
ownership with the state of New York.  In November of 2000, Unity Park II was 
deeded to the state of New York.  As a result of the transfer, the partnership 
incurred recapture and interest penalties.  The Investment General Partner has 
estimated the overall credit yield for 2000 to be .44% due to the recapture.  
Occupancy at Central Parkway Towers (Central Parkway Towers) improved 
slightly during the first four months of 2001 to 76% from 2000's average
occupancy of %67.  The Management Company continues to work with city, state,

23

federal, and non-profit agencies to expand tenant referrals and housing 
contracts. The Operating General Partner negotiated a restructure of 
the lease payments to the greater of monthly cash flow or $3,000/month, with 
the balance deferred.  The reduced lease payment agreement expired December of 
2000 with the deferred lease payments of $12,000 due June 30, 2001.  
Currently, the Operating General Partner is negotiating to defer payments 
through January 2002.  In addition, the Operating General Partner's operating 
deficit obligation has expired, however, it is currently participating in 
funding shortfalls.  The properties overall financial position remains 
relatively unchanged, and Accounts Payable and Accrued Expenses have been 
increased from previous levels.  
The property owned by Haven Park Partners II, A California L.P. (Glenhaven 
Park II) continues to suffer from excessive operating expenses compared to 
operating income.  Effective October 2000,  San Mar Properties of Fresno, 
California assumed the role of management agent.  An affiliate of San Mar 
Properties, Central Valley Affordable Housing LLC, assumed the General Partner 
interest effective December 31, 2000.  It is anticipated that a localized 
management presence will allow the property to operate in a more cost 
effective manner. As a result of the efforts of the new management company, 
occupancy levels are improving.  As of March 31, 2001 physical occupancy at 
Haven Park II was 100%.
The Operating Partnership Van Dyck Estates XVI A (Van Dyck Estates XVI A) has
improved operations while maintaining high occupancy.  Despite the improvement 
in operations, the 2000 audited financial statement was issued assuming the 
Partnership will continue as a Going Concern.   The liquidity of the 
Partnership was adversely affected by recurring losses from operations and the 
Partnership's current liabilities exceeding its total current assets.  During 
2000, expenses were brought down to a level that allowed the property to 
operate at breakeven.  Delinquent real estate taxes were brought current in 
1999, and the property was able to support its own operations in 2000.  
Effective January 1, 2001, the General Partner interest was transferred to the 
Central Valley Affordable Housing LLC, an affiliate of San Mar Properties, 
Inc.  San Mar continues in its capacity as managing agent.  Effective with the 
date of the transfer, San Mar will be responsible for funding all operating 
deficits.  Due to the improvements in operations demonstrated in the year 
2000, and the commitment from the new General Partner, we believe the Going 
Concern opinion will be removed when the 2001 audit is completed.
(Series 5).  As of March 31, 2001 and 2000, the Qualified Occupancy for
the Series was 100%.  The Series had a total of 5 properties at March 31, 
2001, all of which were at 100% qualified occupancy.
For the tax years ended December 31, 2000 and 1999, the Series, in
total, generated $273,549 and $413,094, respectively, in passive income tax
losses that were passed through to the investors, and also provided $0.19 and 
$0.96, respectively, in tax credits per BAC to the investors.
For the years ended December 31, 2000 and 1999 Series 5 reflects a net
income (loss) of $619,978 and ($980,928), respectively, from Operating 
Partnerships, when adjusted for depreciation which is a non-cash item.
The improved operations were mainly the result of a debt restructure by one of 
the operating partnerships.
Annadale Housing Partners (Kingsview Manor & Estates) has previously
reported net losses due to operational issues associated with the
property.  Average occupancy for the year 2000 was 93.54%.  In order to reduce

24

operating costs, a loan restructure was finalized with the first mortgage
lender.  The monthly mortgage payments were reduced by 79%, thereby
alleviating the property of a large monthly cash obligation.  The payment to
the first mortgage holder was funded through the sale of a portion of the
Operating Partnerships future credit stream.
With the additional cash available from a lower monthly debt service payment
and increased rental rates, property operations are anticipated to improve 
significantly over prior years.  As of December 31, 2000, the property 
maintained break-even operations.  Occupancy remains stable at 93% as of March 
31, 2001.  The Investment General Partner continues to monitor this situation 
closely.  Negotiations have been concluded with a third party to have them
assume General Partner responsibilities and management for the partnership. 
This transfer was effective January 1, 2001.
The property owned by Glenhaven Park Partners, A California L.P.
(Glenhaven Estates) continues to suffer from excessive operating expenses 
compared to operating income.  Effective October 2000, San Mar Properties of
Fresno, California assumed the role of management agent. An affiliate of San 
Mar Properties, Central Valley Affordable Housing LLC, assumed the General 
Partner interest effective December 31, 2000.  Occupancy for the first quarter 
of 2001 averaged 100%.  Despite improved occupancy, and new management, the 
property is no longer able to meet the mortgage obligation.  The last mortgage 
payment was made in February 2001.  The Operating General Partner with 
assistance from the Investment General Partner are working with the mortgage 
holders to restructure the debt.  However at this time the mortgage holders 
appear unwilling to do so.
(Series 6).  As of March 31, 2001 and 2000, the Qualified Occupancy for
the series was 100%.  The Series had a total of 15 properties at March 31, 
2001, all of which were at 100% qualified occupancy.
For the tax year ended December 31, 2000 and 1999, the Series, in total,
generated $474,552 and $403,169, respectively, in passive income tax losses
that were passed through to the investors, and also provided $0.28 and $1.13, 
respectively, in tax credits per BAC to the investors.
For the years ended December 31, 2000 and 1999 Series 6 reflects a net 
income from Operating Partnerships of $856,719 and $707,845 respectively, when 
adjusted for depreciation which is a non-cash item.

25

Recent Accounting Statements Not Yet Adopted
In June 2000, the Financial Accounting Standards Board (FASB) issued SFAS No.
 138,"Accounting for Certain Derivative Instruments and Certain Hedging 
Activities - an amendment of FSAB Statement No. 133," and SFAS No. 139, 
"Recission of FASB No. 53 and amendments to FASB Statements No. 63, 89, and 
121."  In September 2000, FASB isuued SFAS No. 140, "Accounting for Transfers 
and Servicing of Financial Assets and Extinguishments of Liabilities - a 
replacement of FASB Statement No. 125."
SFAS No. 138 is effective for all fiscal quarters of all fiscal years 
beginning after December 15, 2000.  SFAS No. 140 is generally effective for 
fiscal years beginning after December 15, 2000.
The Fund does not have any derivative or hedging activities and is not in the 
motion picture industry or the mortgage banking industry.  Consequently, these 
pronouncements are note expected to have any effect on the Fund's financial 
statements.

26

|Item 7a. | Quantitative and Qualitative Disclosure About Market Risk- Not
Applicable                                 
|-------- | ----------------------------------------------------------------------------------------------------------
|Item 8.  | Financial Statements and Supplementary Data                                                               
|         | The information required by this item is contained in Part IV,
Item 14 of this Annual Report on Form 10-K.
|Item 9.  | Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure                      
|        
|         |                                                                                                           
|         | None.                                                                                                     



27

PART III

|Item 10. | Directors and Executive Officers of the Registrant
|-------- | --------------------------------------------------
|         | (a), (b), (c), (d) and (e)                        

The Partnership has no directors or executives officers of its own.  The 
following biographical information is presented for the partners of the 
General Partners and affiliates of those partners (including Boston Capital 
Partners, Inc. ("Boston Capital")) with principal responsibility for the 
Partnership's affairs.John P. Manning, age 53, is co-founder, President and Chief Executive Officer 
of Boston Capital Corporation, where he is primarily responsible for strategic 
planning and business development.  In addition to his responsibilities at 
Boston Capital, Mr. Manning is a proactive leader in the industry.  He served 
in 1990 as a member of the Mitchell-Danforth Task Force, to review and reform 
the Low Income Housing Tax Credit.  He was the founding President of the 
Affordable Housing Tax Credit Coalition, is a former member of the board of 
the National Leased Housing Association and sits on the Advisory Board of the 
publication Housing and Development Reporter.  During the 1980s he served as a 
member of the Massachusetts Housing Policy Committee, as an appointee of the 
Governor of Massachusetts.  In addition, Mr. Manning has testified before the 
U.S. House Ways and Means Committee and the U.S. Senate Finance Committee, on 
the critical role of the private sector in the success of the Low Income 
Housing Tax Credit Program.  In 1996, President Clinton appointed him to the 
President's Advisory Committee on the Arts at the John F. Kennedy Center for 
the Performing Arts.  In 1998, President Clinton also appointed Mr. Manning to 
the President's Export Council, which is the premiere committee comprised of 
major corporate CEOs to advise the President in matters of foreign trade.  Mr. 
Manning is also a member of the Board of Directors of the John F. Kennedy 
Presidential Library in Boston. and is a member of the Advisory Board of the 
Woodrow Wilson Institute for International Scholars in Washington D.C..   Mr. 
Manning is a graduate of Boston College.Richard J. DeAgazio, age 56, is Executive Vice President of Boston Capital 
Corporation, Inc., and is President of Boston Capital Services, Inc., Boston 
Capital's NASD registered broker/dealer.  Mr. DeAgazio formerly served on the 
national Board of Governors of the National Association of Securities Dealers 
(NASD). He recently served as a member of the National Adjudicatory Council of 
the NASD. He was the Vice Chairman of the NASD's District 11 Committee, and 
served as Chairman of the NASD's Statutory Disqualification Subcommittee of 
the National Business Conduct Committee. He also served on the NASD State 
Liaison Committee and the Direct Participation Program Committee. He is a 
founder and past President of the National Real Estate Investment Association, 
past President of the Real Estate Securities and Syndication Institute 
(Massachusetts Chapter) and the Real Estate Investment Association. Prior to 
joining Boston Capital in 1981, Mr. DeAgazio was the Senior Vice President and 
Director of the Brokerage Division of Dresdner Securities (USA), Inc., an 
international investment banking firm owned by four major European banks, and 
was a Vice President of Burgess & Leith/Advest. He has been a member of the 
Boston Stock Exchange since 1967.  He is on the Board of Directors Cognistar 
Corporation. He is a leader in the community and serves on the Business 
Leaders Council of the Boston Symphony, Board of Trustees of Junior

28

Achievement of Northern New England, the Board of Advisors for the Ron Burton 
Training Village and is on the Board of Corporators of Northeastern 
University. He graduated from Northeastern University. Anthony A. Nickas, age 40, is Chief Operating Officer of Boston Capital 
Partners, Inc., and serves as Chairman of the firm's Operating Committee.  Mr. 
Nickas is responsible for all the financial, accounting and operational 
functions of Boston Capital and has spent the past thirteen years in the real 
estate syndication and investment business.  His prior responsibilities at 
Boston Capital included management of finance and accounting for the project 
development and property management affiliates.  Prior to joining Boston 
Capital in 1987, he was Assistant Director of Accounting and Financial 
Reporting for the Yankee Companies, Inc., and was an Audit Supervisor for Wolf 
& Company of Massachusetts, P.C., a regional certified public accounting firm 
based in Boston.  He graduated with honors from Norwich University. Jeffrey H. Goldstein, age 40, is Senior Vice President and Director of Real 
Estate for Boston Capital Partners, Inc. Mr. Goldstein is a former member of 
the Board of Directors of the Council for Affordable and Rural Housing and 
formerly served as Chairman of the Finance Committee. Prior to joining Boston 
Capital in 1990, Mr. Goldstein was Manager of Finance for A.J. Lane & Co., a 
real estate development firm, served as Manager for Homeowner 
Financial Services, a financial consulting firm, and was an analyst 
responsible for budgeting and forecasting for the New York City Counsel-
Finance Division. He graduated from the University of Colorado and received 
his MBA from Northeastern University.Kevin P. Costello, age 54, is Senior Vice President in charge of corporate 
investments for Boston Capital Partners, Inc., and is a member of the firm's 
Operating Committee.  He is responsible for all corporate investment activity 
and has spent twenty years in the real estate syndication and investment 
business. Mr. Costello's prior responsibilities at Boston Capital have 
involved the management of the Acquisitions Department and the structuring and 
distribution of conventional and tax credit private placements.  Prior to 
joining Boston Capital in 1987, he held management and executive positions in 
companies associated with real estate syndication as well as in the medical 
electronics industry.  Mr. Costello graduated from Stonehill College and 
received his MBA with honors from Rutgers' Graduate School of Business 
Administration.

29

|(f)      | Involvement in certain legal proceedings.
|-------- | -----------------------------------------
|         | None.                                    
|(g)      | Promoters and control persons.           
|         | None.                                    
|Item 11. | Executive Compensation                   
|         | (a), (b), (c), (d) and (e)               

The Partnership has no officers or directors.  However, under the
terms of the Amended and Restated Agreement and Certificate of Limited
Partnership of the Partnership, the Partnership has paid or accrued
obligations to the General Partner and its affiliates for the following
fees during the 2001 fiscal year:
	1.	An annual partnership management fee based on 0.375% of the
		aggregate cost of all apartment complexes acquired by the
		Operating Partnerships has been accrued as payable to Boston
		Capital Asset Management Limited Partnership.  The annual
		partnership management fees accrued during the year ended March
		31, 2001 was $951,072.  Accrued fees are payable without interest
		as sufficient funds become available.
	2.	The Partnership has reimbursed an affiliate of the General
		Partner a total of $24,020 for amounts charged to
		operations during the year ended March 31, 2001.  The
		reimbursement includes, but may not be limited to postage,
		printing, travel, and overhead allocations.

30

Item 12.	Security Ownership of Certain Beneficial Owners and
		Management
	(a)	Security ownership of certain beneficial owners.
		As of March 31, 2001, 9,800,600 BACs had been issued.  No person
		is known to own beneficially in excess of 5% of the outstanding
		BACs in any series.
	(b)	Security ownership of management.
		The General Partner has a 1% interest in all Profits, Losses,
		Credits and distributions of the Partnership.  The Partnership's
		response to Item 12(a) is incorporated herein by reference.
		
Effective June 1, 2001, there was a restructuring of the General Partner of 
the Fund and all of its affiliates.  Two individuals previously reported under 
Part III, Item 10 of this 10-K; namely Herbet F. Collins and Chris Collins, 
have effectively redeemed their ownership interests in the General Partner and 
all affiliates of the Fund.  The primary ownership of those affiliates is now 
made up of majority and managing owner John P. Manning and minority owner DMI 
Trust Group. For disclosure purposes we have included biographical information 
on two additional individuals who along with Messrs. Manning, DeAgazio, and 
Nickas make up the Executive Committee of Boston Capital Partners, Inc. 
("Boston Capital") with primary responsibility for the Funds affairs.
	(c)	Changes in control.
There exists no arrangement known to the Partnership the operation of which 
may at a subsequent date result in a change in control of the Partnership.  
There is a provision in the Limited Partnership Agreement which allows, under 
certain circumstances, the ability to change control.
Item 13.	Certain Relationships and Related Transactions
	(a)Transactions with management and others.

31

The Partnership has no officers or directors.  However, under the
	terms of the public offering, various kinds of compensation and
	fees are payable to the General Partner and its Affiliates during
	the organization and operation of the Partnership.  Additionally,
	the General Partner will receive distributions from the
	partnership if there is cash available for distribution or
	residual proceeds as defined in the Partnership Agreement.  The
	amounts and kinds of compensation and fees are described on pages
	32 to 33 of the Prospectus under the caption "Compensation and
	Fees", which is incorporated herein by reference.  See Note B of
	Notes to Financial Statements in Item 14 of this Annual Report on
	Form  10-K for amounts accrued or paid to the General Partner and
	its affiliates during the period from April 1, 1996 through
	March 31, 2001.
	(b)	Certain business relationships.
	The Partnership response to Item 13(a) is incorporated herein by
	reference.
	(c)	Indebtedness of management.
	None.
	(d)	Transactions with promoters.
	Not applicable.
32



PART IV

Item 14.	Exhibits, Financial Statement Schedules, and Reports on
		Form 8-K
	(a)	1. Financial Statements
		Independent Auditors' Report
		Balance Sheets, March 31, 2001 and 2000
Statements of Operations, Years ended March 31, 2001, 2000 and 1999
		Statements of Changes in Partners' Capital, Years ended
		March 31, 2001, 2000, and 1999
Statements of Cash Flows, Years ended March 31, 2001, 2000 and 1999
		Notes to Financial Statements, March 31, 2001, 2000, and
		1999
		(a)	2. Financial Statement Schedules
		Schedule III - Real Estate and Accumulated Depreciation
		Notes to Schedule III
		Schedules not listed are omitted because of the absence of
		the conditions under which they are required or because the
		information is included in the financial statements or the
		notes hereto.
		(a)	3. Exhibits (listed according to the number
		assigned in the table in Item 601 of Regulation S-K)
		Exhibit No. 3 - Organization Documents
		a.	Certificate of Limited Partnership of
			Boston Capital Tax Credit Fund Limited Partnership.
			(Incorporated by reference from Exhibit 3 to the
			Partnership's Registration Statement No. 33-22505
			on Form S-11 as filed with the Securities and
			Exchange Commission on June 20, 1988.)
			Exhibit No. 4 - Instruments defining the rights of
			security holders, including indentures.

33

a.	Agreement of Limited Partnership of Boston
Capital Tax Credit Fund Limited Partnership.
Incorporated by reference from Exhibit 4 to
Amendment No. 1 to the Partnership's Registration
Statement No. 33-22505 on Form S-11 as filed with
the Securities and Exchange Commission on August
25, 1988.)
Exhibit No. 10 - Material contracts.
a.	Beneficial Assignee Certificate.
(Incorporated by reference from Exhibit 10A to
Amendment No. 1 to the Partnership's Registration
Statement No. 33-22505 on Form S-11 as filed with
the Securities and Exchange Commission on August 25,
1988.)
(b)	Reports on Form 8-K
There were no reports on Form 8-K filed during the
quarter ended March 31, 2001.
(c)	Exhibits
The list of exhibits required by Item 601 of Regulation S-K
is included in Item 14(a)(3).
(d)	Financial Statement Schedules
See Item 14(a) 1 and 2 above.
(e)	Independent Auditors' Reports of Operating Limited
Partnerships

34



SIGNATURES

Pursuant to the requirements of Section 13 of the Securities
Exchange Act of 1934, the Partnership has duly caused this Report to be
signed on its behalf by the undersigned, thereunto duly authorized.

|                    |                                                    |                                                               
|------------------- | -------------------------------------------------- | --------------------------------------------------------------
|                    | Boston Capital Tax Credit Fund Limited Partnership
|                    |                                                    |                                                               
|                    | By:                                                | Boston Capital Associates Limited
Partnership, General Partner
|                   
|                    |                                                    |                                                               
|                    | By:                                                | BCA Associates Limited Partnership,
General Partner           
|                   
|                    |                                                    |                                                               
|                    | By:                                                | C&M Management, Inc.,
General Partner                         
|                   
|                    |                                                    |                                                               
|Date: July 13, 2001 | By:/s/ John P. Manning                            
|                    | John P. Manning                                   
|                    |                                                    |                                                               

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 Partnership and in the capacities and on the dates
indicated:

|DATE:         | SIGNATURE:                          | TITLE:                                                                                                                                       
|------------- | ----------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------
|              |                                     |                                                                                                                                              
|July 13, 2001 | /s/ John P. Manning
John P. Manning | Director, President
(Principal Executive
Officer), C&M Management
Inc.; Director, President
(Principal Executive
Officer) BCTC Assignor Corp.

35

FINANCIAL
STATEMENTS AND
INDEPENDENT AUDITORS REPORT BOSTON CAPITAL TAX CREDIT FUND
LIMITED PARTNERSHIP -
SERIES 1 THROUGH SERIES 6 MARCH
31, 2001 AND 2000 Boston
Capital Tax Credit Fund Limited Partnership
Series 1 through Series 6

TABLE
OF CONTENTS

INDEPENDENT
  AUDITORS REPORTFINANCIAL
  STATEMENTSBALANCE SHEETSSTATEMENTS OF OPERATIONSSTATEMENTS
  OF CHANGES IN PARTNERS CAPITALSTATEMENTS OF CASH FLOWSNOTES TO FINANCIAL STATEMENTSSCHEDULE
  III - REAL ESTATE AND ACCUMULATED DEPRECIATIONNOTES
  TO SCHEDULE III

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

Reznick
Fedder & SilvermanCertified Public Accountants * A Professional
Corporation

4520
East-West Highway * Suite 300 * Bethesda, MD 20814-3319(301) 652-9100 * Fax (301) 652-1848

INDEPENDENT AUDITORS
REPORT

To the PartnersBoston Capital Tax Credit FundLimited
Partnership

We have audited the accompanying
balance sheets of Boston Capital Tax Credit Fund Limited Partnership - Series 1
through Series 6, in total and for each series, as of March 31, 2001 and 2000,
and the related statements of operations, changes in partners capital and cash
flows for the total partnership and for each of the series for each of the
three years ended March 31, 2001.  These
financial statements are the responsibility of the partnerships
management.  Our responsibility is to
express an opinion on these financial statements based on our audits.  We did not audit the financial statements of
certain operating limited partnerships in which Boston Capital Tax Credit Fund
Limited Partnership owns a limited partnership interest.  Investments in such partnerships comprise
the following percentages of the assets as of March 31, 2001 and 2000, and the
limited partnership loss for each of the three years ended March 31, 2001:
Total, 9% and 30% of the assets and 25%, 26% and 12% of the partnership loss;
Series 1, 0% and 0% of the assets and 0%, 0% and 0% of the partnership loss;
Series 2, 0% and 6% of the assets and 25%, 30% and 10% of the partnership loss;
Series 3, 0% and 24% of the assets and 23%, 34% and 8% of the partnership loss;
Series 4, 14% and 45% of the assets and 32%, 27% and 20% of the partnership
loss; Series 5, 0% and 0% of the assets and 0%, 0% and 0% of the partnership
loss; and Series 6, 7% and 20% of the assets and 16%, 10% and 20% of the
partnership loss.  The financial
statements of these partnerships were audited by other auditors, whose reports
have been furnished to us, and our opinion, insofar as it relates to
information relating to these partnerships, is based solely on the reports of
the other auditors.

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

In our opinion, based on our
audits and the reports of other auditors, the financial statements referred to
above present fairly, in all material respects, the financial position of
Boston Capital Tax Credit Fund Limited Partnership - Series 1 through Series 6,
in total and for each series, as of March 31, 2001 and 2000, and the results of
their operations and their cash flows for the total partnership and for each of
the series for each of the three years ended March 31, 2001, in conformity with
accounting principles generally accepted in the United States of America.

We and other auditors have also
audited the information included in the related financial statement schedule
listed in Form 10-K item 14(a) of Boston Capital Tax Credit Fund Limited
Partnership - Series 1 through Series 6 as of March 31, 2001.  In our opinion, the schedule presents fairly
the information required to be set forth therein, in conformity with accounting
principles generally accepted in the United States of America.



Bethesda, MarylandJune 27, 2001

Boston
Capital Tax Credit Fund Limited PartnershipSeries 1 through Series 6



BALANCE
SHEETS



March
31, 2001 and 2000


Total2001
  2000ASSETSINVESTMENTS IN
  OPERATING LIMITED PARTNERSHIPS (notes A and C)
  $9,128,027
  $10,837,526OTHER ASSETSCash and cash equivalents (notes A and
  E)
  194,875
  149,652Other
  1,105,471
  1,070,618$10,428,373
  $12,057,796LIABILITIES
  AND PARTNERS CAPITALLIABILITIESAccounts payable - affiliates (note B)
  $9,091,047
  $8,033,544PARTNERS CAPITAL
  (note A)Assignor limited partnerUnits of limited partnership interest
  consisting of10,000,000 authorized
  beneficial assignee certificates(BAC), $10 stated value, 9,800,600 issued
  to theassignees at March 31,
  2001 and 2000
  -
  -AssigneesUnits of beneficial interest of the
  limited partnership interest of the assignor limited partner, 9,800,600
  issued andoutstanding at March
  31, 2001 and 2000
  2,173,864
  4,833,921General partner
  (836,538)
  (809,669)1,337,326
  4,024,252$10,428,373
  $12,057,796Series
  12001
  2000ASSETSINVESTMENTS IN
  OPERATING LIMITED PARTNERSHIPS (notes A and C)
  $-
  $-OTHER ASSETSCash and cash equivalents (notes A and
  E)
  6,094
  11,172Other
  68,113
  68,113$74,207
  $79,285LIABILITIES
  AND PARTNERS DEFICITLIABILITIESAccounts payable - affiliates (note B)
  $1,888,400
  $1,696,505PARTNERS DEFICIT
  (note A)Assignor limited partnerUnits of limited partnership interest
  consisting of 10,000,000 authorized beneficial assignee certificates(BAC), $10 stated value, 1,299,900 issued
  to theassignees at March 31,
  2001 and 2000
  -
  -AssigneesUnits of beneficial interest of the
  limited partnership interestof the assignor
  limited partner, 1,299,900 issued andoutstanding
  at March 31, 2001 and 2000
  (1,682,827)
  (1,487,824)General partner
  (131,366)
  (129,396)(1,814,193)
  (1,617,220)$74,207
  $79,285Series
  22001
  2000ASSETSINVESTMENTS IN
  OPERATING LIMITEDPARTNERSHIPS (notes A
  and C)
  $325,798
  $494,972OTHER ASSETSCash and cash equivalents (notes A and
  E)
  5,977
  4,403Other
  569,584
  569,584$901,359
  $1,068,959LIABILITIES
  AND PARTNERS CAPITALLIABILITIESAccounts payable - affiliates (note B)
  $643,921
  $562,376PARTNERS CAPITAL
  (note A)Assignor limited partnerUnits of limited partnership interest
  consisting of10,000,000 authorized
  beneficial assignee certificates(BAC), $10 stated
  value, 830,300 issued to theassignees at March 31,
  2001 and 2000
  -
  -AssigneesUnits of beneficial interest of
  the limited partnership interest of the assignor limited partner,
  830,300 issued andoutstanding at March
  31, 2001 and 2000
  324,206
  570,860General partner
  (66,768)
  (64,277)257,438
  506,583$901,359
  $1,068,959Series
  32001
  2000ASSETSINVESTMENTS IN
  OPERATING LIMITED PARTNERSHIPS (notes A and C)
  $206,629
  $582,673OTHER ASSETSCash and cash equivalents (notes A and
  E)
  5,293
  7,782Other
  70,240
  41,661$282,162
  $632,116LIABILITIES
  AND PARTNERS DEFICITLIABILITIESAccounts payable - affiliates (note B)
  $2,513,823
  $2,197,590PARTNERS DEFICIT
  (note A)Assignor limited partnerUnits of limited partnership interest
  consisting of 10,000,000 authorized beneficial assignee certificates(BAC), $10 stated
  value, 2,882,200 issued to theassignees
  at March 31, 2001 and 2000
  -
  -AssigneesUnits of beneficial interest of the
  limited partnership interestof the assignor
  limited partner, 2,882,200 issued andoutstanding
  at March 31, 2001 and 2000
  (1,957,431)
  (1,297,906)General partner
  (274,230)
  (267,568)(2,231,661)
  (1,565,474)$282,162
  $632,116Series
  42001
  2000ASSETSINVESTMENTS IN OPERATING
  LIMITEDPARTNERSHIPS (notes A
  and C)
  $4,593,447
  $5,684,221OTHER ASSETSCash and cash equivalents (notes A and
  E)
  27,998
  5,558Other
  247,635
  241,361$4,869,080
  $5,931,140LIABILITIES
  AND PARTNERS CAPITALLIABILITIESAccounts payable - affiliates (note B)
  $2,382,066
  $2,099,012PARTNERS CAPITAL
  (note A)Assignor limited partnerUnits of limited partnership interest
  consisting of 10,000,000 authorized beneficial assignee certificates(BAC), $10 stated value, 2,995,300 issued
  to theassignees at March 31,
  2001 and 2000
  -
  -AssigneesUnits of beneficial interest of the
  limited partnership interestof the assignor
  limited partner, 2,995,300 issued andoutstanding
  at March 31, 2001 and 2000
  2,722,248
  4,053,911General partner
  (235,234)
  (221,783)2,487,014
  3,832,128$4,869,080
  $5,931,140Series
  52001
  2000ASSETSINVESTMENTS IN
  OPERATING LIMITEDPARTNERSHIPS (notes A
  and C)
  $405,558
  $500,661OTHER ASSETSCash and cash equivalents (notes A and
  E)
  96,768
  105,507Other
  149,899
  149,899$652,225
  $756,067LIABILITIES
  AND PARTNERS CAPITALLIABILITIESAccounts payable - affiliates (note B)
  $223,908
  $186,192PARTNERS CAPITAL
  (note A)Assignor limited partnerUnits of limited partnership interest
  consisting of10,000,000 authorized
  beneficial assignee certificates(BAC), $10 stated value, 489,900 issued to
  theassignees
  at March 31, 2001 and 2000
  -
  -AssigneesUnits of beneficial interest of the
  limited partnership interest of the assignor limited partner, 489,900
  issued andoutstanding at March
  31, 2001 and 2000
  465,785
  605,927General partner
  (37,468)
  (36,052)428,317
  569,875$652,225
  $756,067Series
  62001
  2000ASSETSINVESTMENTS IN
  OPERATING LIMITEDPARTNERSHIPS (notes A
  and C)
  $3,596,595
  $3,574,999OTHER ASSETSCash and cash equivalents (notes A and E)
  52,745
  15,230Other
  -
  -$3,649,340
  $3,590,229LIABILITIES
  AND PARTNERS CAPITALLIABILITIESAccounts payable - affiliates (note B)
  $1,438,929
  $1,291,869PARTNERS CAPITAL
  (note A)Assignor limited partnerUnits of limited partnership interest
  consisting of 10,000,000 authorized beneficial assignee certificates(BAC), $10 stated
  value, 1,303,000 issued to theassignees
  at March 31, 2001 and 2000
  -
  -AssigneesUnits of beneficial interest of the
  limited partnership interestof the assignor
  limited partner, 1,303,000 issued andoutstanding
  at March 31, 2001 and 2000
  2,301,883
  2,388,953General partner
  (91,472)
  (90,593)2,210,411
  2,298,360$3,649,340
  $3,590,229See
notes to financial statements

Boston
Capital Tax Credit Fund Limited PartnershipSeries 1 through Series 6


STATEMENTS
OF OPERATIONS



Years
ended March 31, 2001, 2000 and 1999


Total2001
  2000
  
  1999IncomeInterest income
  $3,255
  $3,362
  
  $4,355Miscellaneous income
  1,266
  888
  
  -Total income
  4,521
  4,250
  
  4,355Share of losses from
  operating limited partnerships (note A)
  (1,691,359)
  (1,797,917)
  *
  (4,256,419)ExpensesProfessional fees
  79,580
  76,724
  
  87,427Partnership management fee (note B)
  858,356
  914,669
  
  919,866Impairment loss (note A)
  -
  -
  
  4,017,052General and administrative expenses
  (note B)
  62,152
  67,481
  
  64,1791,000,088
  1,058,874
  
  5,088,524NET LOSS (note A)
  $(2,686,926)
  $(2,852,541)
  
  $(9,340,588)Net loss allocated to
  general partner
  $(26,869)
  $(28,526)
  
  $(93,405)Net loss allocated to
  assignees
  $(2,660,057)
  $(2,824,015)
  
  $(9,247,183)Net loss per BAC
  $(0.27)
  $(0.29)
  
  $(0.94)*
Net of $325,793 gain from sale of a portion of an operating limited
partnership.


Series
  12001
  2000
  1999IncomeInterest income
  $171
  $190
  $266Miscellaneous income
  20
  842
  -Total income
  191
  1,032
  266Share of losses from
  operating limited partnerships (note A)
  -
  (24,367)
  (16,041)ExpensesProfessional fees
  13,924
  13,089
  16,459Partnership management fee (note B)
  174,931
  171,604
  175,604Impairment loss (note A)
  -
  -
  -General and administrative expenses
  (note B)
  8,309
  9,264
  8,047197,164
  193,957
  200,110NET LOSS (note A)
  $(196,973)
  $(217,292)
  $(215,885)Net loss allocated to
  general partner
  $(1,970)
  $(2,173)
  $(2,159)Net loss allocated to
  assignees
  $(195,003)
  $(215,119)
  $(213,726)Net loss per BAC
  $(0.15)
  $(0.17)
  $(0.17)Series
  22001
  2000
  
  1999IncomeInterest income
  $86
  $151
  
  $115Miscellaneous income
  -
  -
  
  -Total income
  86
  151
  
  115Share of losses from
  operating limitedpartnerships (note A)
  (169,174)
  (26,254)
  *
  (280,980)ExpensesProfessional fees
  10,048
  9,604
  
  10,797Partnership management fee (note B)
  62,446
  67,362
  
  67,362Impairment loss (note A)
  -
  -
  
  876,844General and administrative expenses
  (note B)
  7,563
  8,301
  
  8,66680,057
  85,267
  
  963,669NET LOSS (note A)
  $(249,145)
  $(111,370)
  
  $(1,244,534)Net loss allocated to
  general partner
  $(2,491)
  $(1,114)
  
  $(12,445)Net loss allocated to
  assignees
  $(246,654)
  $(110,256)
  
  $(1,232,089)Net loss per BAC
  $(0.30)
  $(0.13)
  
  $(1.48)*
Net of $209,299 gain from sale of a portion of an operating limited partnership.


Series
  32001
  2000
  1999IncomeInterest income
  $122
  $139
  $240Miscellaneous income
  46
  46
  -Total income
  168
  185
  240Share of losses from
  operating limitedpartnerships
  (note A)
  (375,991)
  (705,513)
  (2,166,577)ExpensesProfessional fees
  18,294
  16,229
  18,536Partnership management fee (note B)
  254,513
  260,113
  259,856Impairment loss (note A)
  -
  -
  1,402,374General and administrative expenses
  (note B)
  17,557
  18,557
  17,593290,364
  294,899
  1,698,359NET LOSS (note A)
  $(666,187)
  $(1,000,227)
  $(3,864,696)Net loss allocated to
  general partner
  $(6,662)
  $(10,002)
  $(38,647)Net loss allocated to
  assignees
  $(659,525)
  $(990,225)
  $(3,826,049)Net loss per BAC
  $(0.23)
  $(0.34)
  $(1.33)


Series
  42001
  2000
  1999IncomeInterest income
  $177
  $171
  $200Miscellaneous income
  -
  -
  -Total income
  177
  171
  200Share of losses from operating
  limited partnerships (note A)
  (1,090,774)
  (964,308)
  (1,449,290)ExpensesProfessional fees
  17,668
  15,909
  18,815Partnership management fee (note B)
  220,529
  244,630
  247,884Impairment loss (note A)
  -
  -
  654,684General and administrative expenses
  (note B)
  16,320
  17,906
  16,664254,517
  278,445
  938,047NET LOSS (note A)
  $(1,345,114)
  $(1,242,582)
  $(2,387,137)Net loss allocated to
  general partner
  $(13,451)
  $(12,426)
  $(23,871)Net loss allocated to
  assignees
  $(1,331,663)
  $(1,230,156)
  $(2,363,266)Net loss per BAC
  $(0.44)
  $(0.41)
  $(0.79)Series
  52001
  2000
  
  1999IncomeInterest income
  $2,060
  $2,304
  
  $3,065Miscellaneous income
  1,200
  -
  
  -Total income
  3,260
  2,304
  
  3,065Share of income
  (losses) from operating limitedpartnerships (note A)
  (95,103)
  19,012
  *
  (124,175)ExpensesProfessional fees
  6,763
  9,629
  
  9,236Partnership management fee (note B)
  37,656
  39,184
  
  39,184Impairment loss (note A)
  -
  -
  
  450,835General and administrative expenses
  (note B)
  5,296
  5,980
  
  6,22649,715
  54,793
  
  505,481NET LOSS (note A)
  $(141,558)
  $(33,477)
  
  $(626,591)Net loss allocated to
  general partner
  $(1,416)
  $(335)
  
  $(6,266)Net loss allocated to
  assignees
  $(140,142)
  $(33,142)
  
  $(620,325)Net loss per BAC
  $(0.29)
  $(0.07)
  
  $(1.27)*
Net of $116,494 gain from sale of a portion of an operating limited
partnership.


Series
  62001
  2000
  1999IncomeInterest income
  $639
  $407
  $469Miscellaneous income
  -
  -
  -Total income
  639
  407
  469Share of income
  (losses) from operating limitedpartnerships (note A)
  39,683
  (96,487)
  (219,356)ExpensesProfessional fees
  12,883
  12,264
  13,584Partnership management fee (note B)
  108,281
  131,776
  129,976Impairment loss (note A)
  -
  -
  632,315General and administrative expenses
  (note B)
  7,107
  7,473
  6,983128,271
  151,513
  782,858NET LOSS (note A)
  $(87,949)
  $(247,593)
  $(1,001,745)Net loss allocated to
  general partner
  $(879)
  $(2,476)
  $(10,017)Net loss allocated to
  assignees
  $(87,070)
  $(245,117)
  $(991,728)Net loss per BAC
  $(0.07)
  $(0.19)
  $(0.76)See
notes to financial statements


Boston Capital Tax
Credit Fund Limited PartnershipSeries 1 through Series 6



STATEMENTS
OF CHANGES IN PARTNERS CAPITAL



Years ended March 31, 2001, 2000 and 1999


Total
  Assignees
  General
  partner
  TotalPartners capital
  (deficit), March 31, 1998
  $16,905,119
  $(687,738)
  $16,217,381Net loss
  (9,247,183)
  (93,405)
  (9,340,588)Partners capital
  (deficit), March 31, 1999
  7,657,936
  (781,143)
  6,876,793Net loss
  (2,824,015)
  (28,526)
  (2,852,541)Partners capital
  (deficit), March 31, 2000
  4,833,921
  (809,669)
  4,024,252Net loss
  (2,660,057)
  (26,869)
  (2,686,926)Partners capital
  (deficit), March 31, 2001
  $2,173,864
  $(836,538)
  $1,337,326Series
  1
  Assignees
  General
  partner
  TotalPartners capital
  (deficit), March 31, 1998
  $(1,058,979)
  $(125,064)
  $(1,184,043)Net loss
  (213,726)
  (2,159)
  (215,885)Partners capital
  (deficit), March 31, 1999
  (1,272,705)
  (127,223)
  (1,399,928)Net loss
  (215,119)
  (2,173)
  (217,292)Partners capital
  (deficit), March 31, 2000
  (1,487,824)
  (129,396)
  (1,617,220)Net loss
  (195,003)
  (1,970)
  (196,973)Partners capital
  (deficit), March 31, 2001
  $(1,682,827)
  $(131,366)
  $(1,814,193)

Series
  2
  Assignees
  General
  partner
  TotalPartners capital
  (deficit), March 31, 1998
  $1,913,205
  $(50,718)
  $1,862,487Net loss
  (1,232,089)
  (12,445)
  (1,244,534)Partners capital
  (deficit), March 31, 1999
  681,116
  (63,163)
  617,953Net loss
  (110,256)
  (1,114)
  (111,370)Partners capital
  (deficit), March 31, 2000
  570,860
  (64,277)
  506,583Net loss
  (246,654)
  (2,491)
  (249,145)Partners capital
  (deficit), March 31, 2001
  $324,206
  $(66,768)
  $257,438Series
  3
  Assignees
  General
  partner
  TotalPartners capital
  (deficit), March 31, 1998
  $3,518,368
  $(218,919)
  $3,299,449Net loss
  (3,826,049)
  (38,647)
  (3,864,696)Partners capital
  (deficit), March 31, 1999
  (307,681)
  (257,566)
  (565,247)Net loss
  (990,225)
  (10,002)
  (1,000,227)Partners capital
  (deficit), March 31, 2000
  (1,297,906)
  (267,568)
  (1,565,474)Net loss
  (659,525)
  (6,662)
  (666,187)Partners capital
  (deficit), March 31, 2001
  $(1,957,431)
  $(274,230)
  $(2,231,661)

Series
  4
  Assignees
  General
  partner
  TotalPartners capital
  (deficit), March 31, 1998
  $7,647,333
  $(185,486)
  $7,461,847Net loss
  (2,363,266)
  (23,871)
  (2,387,137)Partners capital
  (deficit), March 31, 1999
  5,284,067
  (209,357)
  5,074,710Net loss
  (1,230,156)
  (12,426)
  (1,242,582)Partners capital
  (deficit), March 31, 2000
  4,053,911
  (221,783)
  3,832,128Net loss
  (1,331,663)
  (13,451)
  (1,345,114)Partners capital
  (deficit), March 31, 2001
  $2,722,248
  $(235,234)
  $2,487,014Series
  5
  Assignees
  General
  partner
  TotalPartners capital
  (deficit), March 31, 1998
  $1,259,394
  $(29,451)
  $1,229,943Net loss
  (620,325)
  (6,266)
  (626,591)Partners capital
  (deficit), March 31, 1999
  639,069
  (35,717)
  603,352Net loss
  (33,142)
  (335)
  (33,477)Partners capital
  (deficit), March 31, 2000
  605,927
  (36,052)
  569,875Net loss
  (140,142)
  (1,416)
  (141,558)Partners capital
  (deficit), March 31, 2001
  $465,785
  $(37,468)
  $428,317

Series
  6
  Assignees
  General
  partner
  TotalPartners capital
  (deficit), March 31, 1998
  $3,625,798
  $(78,100)
  $3,547,698Net loss
  (991,728)
  (10,017)
  (1,001,745)Partners capital
  (deficit), March 31, 1999
  2,634,070
  (88,117)
  2,545,953Net loss
  (245,117)
  (2,476)
  (247,593)Partners capital
  (deficit), March 31, 2000
  2,388,953
  (90,593)
  2,298,360Net loss
  (87,070)
  (879)
  (87,949)Partners capital
  (deficit), March 31, 2001
  $2,301,883
  $(91,472)
  $2,210,411See
notes to financial statements


Boston
Capital Tax Credit Fund Limited PartnershipSeries 1 through Series 6



STATEMENTS OF CASH FLOWS



Years ended March 31,
2001, 2000 and 1999


Total2001
  2000
  1999Cash flows from
  operating activitiesNet loss
  $(2,686,926)
  $(2,852,541)
  $(9,340,588)Adjustments to reconcile net loss to net
  cash provided by (used in) operating activitiesDistributions from operating limitedpartnerships
  18,140
  4,682
  9,839Share of losses from operating
  limitedpartnerships
  1,691,359
  2,123,710
  4,256,419Impairment loss
  -
  -
  4,017,052Other assets
  (34,853)
  (349,389)
  (48,790)Accounts payable and accrued expenses
  1,057,503
  1,064,453
  1,089,318Net cash provided by (used in)operating
  activities
  45,223
  (9,085)
  (16,750)Cash flows from
  investing activitiesCapital contributions paid to operating
  limited partnerships
  -
  (1,398)
  -Net cash used in investing
  activities
  -
  (1,398)
  -NET INCREASE (DECREASE) IN CASH
  AND CASH EQUIVALENTS
  45,223
  (10,483)
  (16,750)Cash and cash
  equivalents, beginning
  149,652
  160,135
  176,885Cash and cash
  equivalents, end
  $194,875
  $149,652
  $160,135Series
  12001
  2001
  1999Cash flows from
  operating activitiesNet loss
  $(196,973)
  $(217,292)
  $(215,885)Adjustments to reconcile net loss to net
  cashprovided
  by (used in) operating activitiesDistributions from operating limitedpartnerships
  -
  -
  -Share of losses from operating
  limitedpartnerships
  -
  24,367
  16,041Impairment loss
  -
  -
  -Other assets
  -
  -
  -Accounts payable and accrued expenses
  191,895
  198,855
  191,133Net cash provided by (used in)
  operating activities
  (5,078)
  5,930
  (8,711)Cash flows from
  investing activitiesCapital contributions paid to operating
  limited partnerships
  -
  (1,398)
  -Net cash used in investing
  activities
  -
  (1,398)
  -NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
  (5,078)
  4,532
  (8,711)Cash and cash
  equivalents, beginning
  11,172
  6,640
  15,351Cash and cash
  equivalents, end
  $6,094
  $11,172
  $6,640Series
  22001
  2000
  1999Cash flows from
  operating activitiesNet loss
  $(249,145)
  $(111,370)
  $(1,244,534)Adjustments to reconcile net loss to net
  cashprovided
  by (used in) operating activitiesDistributions from operating limitedpartnerships
  -
  800
  -Share of losses from operating
  limited  partnerships
  169,174
  235,553
  280,980Impairment loss
  -
  -
  876,844Other assets
  -
  (209,299)
  -Accounts payable and accrued expenses
  81,545
  83,222
  88,230Net cash provided by (used in)operating
  activities
  1,574
  (1,094)
  1,520Cash flows from
  investing activitiesCapital contributions paid to operating
  limited partnerships
  -
  -
  -Net cash used in investing
  activities
  -
  -
  -NET INCREASE (DECREASE) INCASH AND CASH EQUIVALENTS
  1,574
  (1,094)
  1,520Cash and cash
  equivalents, beginning
  4,403
  5,497
  3,977Cash and cash
  equivalents, end
  $5,977
  $4,403
  $5,497Series
  32001
  2000
  1999Cash flows from
  operating activitiesNet loss
  $(666,187)
  $(1,000,227)
  $(3,864,696)Adjustments to reconcile net loss to net
  cash provided by (used in) operating activitiesDistributions from operating limited
  partnerships
  53
  1,124
  52Share of losses from operating
  limited
  375,991
  705,513
  2,166,577Impairment loss
  -
  -
  1,402,374Other assets
  (28,579)
  200
  -Accounts payable and accrued expenses
  316,233
  298,841
  283,691Net cash provided by (used in)operating activities
  (2,489)
  5,451
  (12,002)Cash flows from
  investing activitiesCapital contributions paid to operating
  limited partnerships
  -
  -
  -Net cash used in investing
  activities
  -
  -
  -NET INCREASE (DECREASE) IN CASH
  AND CASH EQUIVALENTS
  (2,489)
  5,451
  (12,002)Cash and cash
  equivalents, beginning
  7,782
  2,331
  14,333Cash and cash
  equivalents, end
  $5,293
  $7,782
  $2,331Series
  42001
  2000
  1999Cash flows from
  operating activitiesNet loss
  $(1,345,114)
  $(1,242,582)
  $(2,387,137)Adjustments to reconcile net loss to net
  cashprovided
  by (used in) operating activitiesDistributions from operating limitedpartnerships
  -
  -
  -Share of losses from operating limitedpartnerships
  1,090,774
  964,308
  1,449,290Impairment loss
  -
  -
  654,684Other assets
  (6,274)
  (23,504)
  (48,790)Accounts payable and accrued expenses
  283,054
  297,016
  340,318Net cash provided by (used in)
  operating activities
  22,440
  (4,762)
  8,365Cash flows from
  investing activitiesCapital contributions paid to
  operating  limited partnerships
  -
  -
  -Net cash used in investing
  activities
  -
  -
  -NET INCREASE (DECREASE) IN CASH
  AND CASH EQUIVALENTS
  22,440
  (4,762)
  8,365Cash and cash
  equivalents, beginning
  5,558
  10,320
  1,955Cash and cash
  equivalents, end
  $27,998
  $5,558
  $10,320Series
  52001
  2000
  1999Cash flows from
  operating activitiesNet loss
  $(141,558)
  $(33,477)
  $(626,591)Adjustments to reconcile net loss to net
  cashused in operating activitiesDistributions from operating limited
  partnerships
  -
  -
  -Share of losses from operating
  limitedpartnerships
  95,103
  97,482
  124,175Impairment loss
  -
  -
  450,835Other assets
  -
  (116,786)
  -Accounts payable and accrued expenses
  37,716
  39,456
  39,456Net cash used in operating
  activities
  (8,739)
  (13,325)
  (12,125)Cash flows from
  investing activitiesCapital contributions paid to operating
  limited partnerships
  -
  -
  -Net cash used in investing
  activities
  -
  -
  -NET INCREASE (DECREASE) IN CASH
  AND CASH EQUIVALENTS
  (8,739)
  (13,325)
  (12,125)Cash and cash
  equivalents, beginning
  105,507
  118,832
  130,957Cash and cash
  equivalents, end
  $96,768
  $105,507
  $118,832Series
  62001
  2000
  1999Cash flows from
  operating activitiesNet loss
  $(87,949)
  $(247,593)
  $(1,001,745)Adjustments to reconcile net loss to net
  cashprovided by (used in) operating activitiesDistributions from operating limitedpartnerships
  18,087
  2,758
  9,787Share of (income) losses from
  operating limitedpartnerships
  (39,683)
  96,487
  219,356Impairment loss
  -
  -
  632,315Other assets
  -
  -
  -Accounts payable and accrued expenses
  147,060
  147,063
  146,490Net cash provided by (used in)operating activities
  37,515
  (1,285)
  6,203Cash flows from
  investing activitiesCapital contributions paid to operating
  limited partnerships
  -
  -
  -Net cash used in investing
  activities
  -
  -
  -NET INCREASE (DECREASE) INCASH AND CASH EQUIVALENTS
  37,515
  (1,285)
  6,203Cash and cash
  equivalents, beginning
  15,230
  16,515
  10,312Cash and cash
  equivalents, end
  $52,745
  $15,230
  $16,515See
notes to financial statements


NOTES TO FINANCIAL STATEMENTS

March 31, 2001, 2000 and 1999

NOTE
A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTINGPOLICIES

Boston
Capital Tax Credit Fund Limited Partnership (the partnership) (formerly
American Affordable Housing VI Limited Partnership) was formed under the laws
of the State of Delaware as of June 1, 1988, for the purpose of acquiring,
holding, and disposing of limited partnership interests in operating limited
partnerships which have acquired, developed, rehabilitated, operate and own
newly constructed, existing or rehabilitated apartment complexes which qualify
for the Low-Income Housing Tax Credit established by the Tax Reform Act of
1986.  Certain of the apartment
complexes may also qualify for the Historic Rehabilitation Tax Credit for the
rehabilitation of certified historic structures, accordingly, the apartment
complexes are restricted as to rent charges and operating methods and are
subject to the provisions of Section 42(g)(2) of the Internal Revenue Code
relating to the Rehabilitation Investment Credit.  The general partner of the partnership is Boston Capital
Associates Limited Partnership and the limited partner is BCTC Assignor Corp.
(the assignor limited partner).Pursuant
to the Securities Act of 1933, the partnership filed a Form S-11 Registration
Statement with the Securities and Exchange Commission, effective August 29,
1988, which covered the offering (the Public Offering) of the partnerships
beneficial assignee certificates (BACs) representing assignments of units of
the beneficial interest of the limited partnership interest of the assignor
limited partner.  The partnership
registered 10,000,000 BACs at $10 per BAC for sale to the public in six
series.  BACs sold in bulk were offered
to investors at a reduced cost per BAC.In
accordance with the limited partnership agreement, profits, losses, and cash
flow (subject to certain priority allocations and distributions) and tax
credits are allocated 99% to the assignees and 1% to the general partner.Investments
in Operating Limited PartnershipsThe
partnership accounts for its investments in operating limited partnerships
using the equity method of accounting. 
Under the equity method of accounting, the partnership adjusts its
investment cost for its share of each operating limited partnerships results
of operations and for any distributions received or accrued.  However, the partnership recognizes
individual operating limited partnership losses only to the extent that the
funds share of losses of the operating limited partnerships does not exceed
the carrying amount of its investment. 
Unrecognized losses will be suspended and offset against future
individual operating limited partnership income.A
loss in value of an investment in an operating 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 partnership and the estimated residual value of the
investment.Capital
contributions to operating limited partnerships are adjusted by tax credit
adjusters.  Tax credit adjusters are
defined as adjustments to operating limited partnership capital contributions
due to reductions in actual tax credits from those originally projected.  The partnership records tax credit adjusters
as a reduction in investment in operating limited partnerships and capital
contributions payable.The
operating limited partnerships maintain their financial statements based on a
calendar year and the partnership utilizes a March 31 year end.  The partnership records losses and income
from the operating limited partnerships on a calendar year basis which is not
materially different from losses and income generated if the operating limited
partnerships utilized a March 31 year end.The
partnership records capital contributions payable to the operating limited
partnerships once there is a binding obligation to the partnerships of a
specified amount.  The operating limited
partnerships record capital contributions from the partnership when received.The
partnership records acquisition costs as an increase in its investment in
operating limited partnerships.  Certain
operating limited partnerships have not recorded the acquisition costs as a
capital contribution from the partnership. 
These differences are shown as reconciling items in note C.Cash
EquivalentsCash equivalents include repurchase agreements and
money market accounts having original maturities at date of acquisition of
three months or less.  The carrying
amounts approximate fair value because of the short maturity of these
instruments.Income
TaxesNo
provision or benefit for income taxes has been included in these financial
statements since taxable income or loss passes through to, and is reportable
by, the general partner and assignees individually.Fiscal
YearFor
financial reporting purposes the partnership uses a March 31 year end, whereas
for income tax reporting purposes, the partnership uses a calendar year.  The operating limited partnerships use a
calendar year for both financial and income tax reporting.Net
Loss per Beneficial Assignee CertificateNet
loss per beneficial assignee certificate is calculated based upon the number of
units outstanding.  The number of units
outstanding in each series for each of the three years in the period ended
March 31, 2001 is as follows:Series 1
  1,299,900Series 2
  830,300Series 3
  2,882,200Series 4
  2,995,300Series 5
  489,900Series 6
  1,303,000Total
  9,800,600Use
of EstimatesThe
preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenue and expenses
during the reporting period.  Actual
results could differ from those estimates.

Recent
Accounting PronouncementsIn
June 2000, the Financial Accounting Standards Board (FASB) issued FASB No. 138,
Accounting for Certain Derivative Instruments and Certain Hedging Activities -
an amendment of FASB Statement No. 133, and SFAS No. 139, Rescission of FASB
No. 53 and amendments to FASB Statements No. 63, 89 and 121.  In September 2000, FASB issued SFAS No. 140,
Accounting for Transfers and Servicing of Financial Assets and Extinguishments
of Liabilities - a replacement of FASB Statement No. 125.SFAS
No. 138 is effective for all fiscal quarters of all fiscal years beginning
after June 15, 2000.  SFAS No. 139 is
effective for fiscal years beginning after December 15, 2000.  SFAS No. 140 is generally effective for
fiscal years after December 15, 2000.The
fund does not have any derivative or hedging activities and is not in the
motion picture industry or the mortgage bank industry.  Consequently, these pronouncements are not
expected to have any effect on the funds financial statements.NOTE B - RELATED PARTY TRANSACTIONS

During the years ended March 31, 2001, 2000 and 1999,
the partnership entered into several transactions with various affiliates of
the general partner, including Boston Capital Partners, Inc., Boston Capital
Services, Inc., Boston Capital Holdings Limited Partnership, and Boston Capital
Asset Management Limited Partnership, as follows:Boston Capital Asset Management Limited Partnership is
entitled to an annual partnership management fee based on .375% of the
aggregate cost of all apartment complexes acquired by the operating limited
partnerships, less the amount of certain partnership management and reporting
fees paid or payable by the operating limited partnerships. The aggregate cost
is comprised of the capital contributions made by each series to the operating
limited partnership and 99% of the permanent financing at the operating limited
partnership level.The annual partnership management fee charged to
operations net of reporting fees for the years ended March 31, 2001, 2000 and
1999 is as follows:2001
  2000
  1999Series
  1
  $174,931
  $171,604
  $175,604Series 2
  62,446
  67,362
  67,362Series 3
  254,513
  260,113
  259,856Series 4
  220,529
  244,630
  247,884Series 5
  37,656
  39,184
  39,184Series 6
  108,281
  131,776
  129,976$858,356
  $914,669
  $919,866General and administrative expenses incurred by Boston Capital
Partners, Inc., Boston Capital Holdings Limited Partnership, and Boston Capital
Asset Management Limited Partnership were charged to each series operations
for the years ended March 31, 2001, 2000 and 1999 as follows:

2001
  2000
  1999Series
  1
  $3,030
  $2,991
  $1,973Series 2
  3,700
  3,983
  3,784Series 3
  5,822
  5,697
  4,031Series 4
  5,751
  5,626
  4,442Series 5
  2,933
  739
  2,796Series 6
  2,784
  2,787
  1,973$24,020
  $21,823
  $18,999Accounts payable - affiliates at March 31, 2001 and 2000 represents
general and administrative expenses, partnership management fees, and may
include advances which are noninterest bearing and payable to Boston Capital
Partners, Inc., Boston Capital Services, Inc., Boston Capital Holdings Limited
Partnership and Boston Capital Asset Management Limited Partnership.  The carrying value of the accounts payable -
affiliates approximates fair value.

NOTE C - INVESTMENTS IN OPERATING LIMITED
PARTNERSHIPS

At March 31, 2001, 2000 and 1999, the partnership has
limited partnership interests in 103, 105 and 105 operating limited
partnerships, respectively, which own apartment complexes.  During the year ended March 31, 2001, the
partnership disposed of a portion of its interest in one of the operating
limited partnerships owned by Series 2 and Series 5.  During the year ended March 31, 2001, the partnership fully
disposed of its interest in one of the operating limited partnerships owned by
Series 1 and Series 4.  The number of
operating limited partnerships in which the partnership has limited partnership
interests at March 31, 2001, 2000 and 1999 by series are as follows:2001
  2000
  1999Series 1
  18
  19
  19Series 2
  8
  8
  8Series 3
  33
  33
  33Series 4
  24
  25
  25Series 5
  5
  5
  5Series 6
  15
  15
  15Total
  103
  105
  105The partnerships
investments in operating limited partnerships at March 31, 2001 are summarized
as follows:

TotalCapital contributions
  paid to operating limited partnerships, net of tax credit adjusters
  $69,626,749Acquisition costs of
  operating limited partnerships
  11,976,945Syndication costs from
  operating limited partnerships
  (45,526)Cumulative
  distributions from operating limited partnerships
  (121,684)Impairment loss in
  investment in operating limited partnerships
  (4,017,052)Cumulative losses from
  operating limited partnerships
  (68,291,405)Investment in
  operating limited partnerships per balance sheets
  9,128,027The partnership has
  recorded capital contributions to the operating limited partnerships during
  the year ended March 31, 2001, which have not been included in the
  partnerships capital account included in the operating limited partnerships
  financial statements as of December 31, 2000 (see note A).
  (479,273)The partnership has
  recorded acquisition costs at March 31, 2001, which have not been accounted
  for in the net assets of the operating limited partnerships (see note A).
  (852,435)The partnership has
  recorded a share of losses from operating limited partnerships for the three
  months ended March 31, 2001, which the operating limited partnerships have
  not included in their capital accounts as of December 31, 2000 due to
  different year ends (see note A).
  1,466,033The partnership has
  recorded low income housing tax credit adjusters not recorded by operating
  limited partnerships (see note A).
  182,949Equity in losses from
  operating limited partnerships not recognizable under the equity method of
  accounting (see note A).
  (45,141,707)Impairment loss in
  investment in operating limited partnerships
  4,017,052Other
  84,299Equity per operating
  limited partnerships combined financial statements
  $(31,595,055)The
partnerships investments in operating limited partnerships at March 31, 2001
are summarized as follows:Series
  1
  Series
  2
  Series
  3Capital contributions
  paid to operating limited partnerships, net of tax credit adjusters
  $9,037,551
  $5,565,026
  $20,710,406Acquisition costs of
  operating limited partnerships
  1,569,525
  1,005,656
  3,486,122Syndication costs from
  operating limited partnerships
  -
  -
  -Cumulative
  distributions from operating limited partnerships
  (4,140)
  (6,246)
  (48,128)Impairment loss in
  investment in operating limited partnerships
  -
  (876,844)
  (1,402,374)Cumulative losses from
  operating limited partnerships
  (10,602,936)
  (5,361,794)
  (22,539,397)Investment in
  operating limited partnerships per balance sheets
  -
  325,798
  206,629The partnership has
  recorded capital contributions to the operating limited partnerships during
  the year ended March 31, 2001, which have not been included in the
  partnerships capital account included in the operating limited partnerships
  financial statements as of December 31, 2000 (see note A).
  -
  (311,339)
  (133,349)The partnership has
  recorded acquisition costs at March 31, 2001, which have not been accounted
  for in the net assets of the operating limited partnerships (see note A).
  (581,787)
  (46,332)
  116,864The partnership has
  recorded a share of losses from operating limited partnerships for the three
  months ended March 31, 2001, which the operating limited partnerships have
  not included in their capital accounts as of December 31, 2000 due to
  different year ends (see note A).
  667,397
  -
  798,636The partnership has
  recorded low income housing tax credit adjusters not recorded by operating
  limited partnerships (see note A).
  31,815
  63,725
  47,192Equity in losses from
  operating limited partnerships not recognizable under the equity method of
  accounting (see note A).
  (22,081,031)
  (2,394,802)
  (14,412,617)Impairment loss in
  investment in operating limited partnerships
  -
  876,844
  1,402,374Other
  782
  (361,065)
  305,910Equity per operating
  limited partnerships combined financial statements
  $(21,962,824)
  $(1,847,171)
  $(11,668,361)The
partnerships investments in operating limited partnerships at March 31, 2001
are summarized as follows:Series
  4
  Series
  5
  Series
  6Capital contributions
  paid to operating limited partnerships, net of tax credit adjusters
  $21,719,700
  $3,273,323
  $9,320,743Acquisition costs of
  operating limited partnerships
  3,661,756
  599,776
  1,654,110Syndication costs from
  operating limited partnerships
  -
  (45,526)
  -Cumulative
  distributions from operating limited partnerships
  (12,414)
  -
  (50,756)Impairment loss in
  investment in operating limited partnerships
  (654,684)
  (450,835)
  (632,315)Cumulative losses from
  operating limited partnerships
  (20,120,911)
  (2,971,180)
  (6,695,187)Investment in operating
  limited partnerships per balance sheets
  4,593,447
  405,558
  3,596,595The partnership
  has  recorded capital contributions to
  the operating limited partnerships during the year ended March 31, 2001,
  which have not been included in the partnerships capital account included in
  the operating limited partnerships financial statements as of December 31,
  2000 (see note A).
  -
  (34,585)
  -The partnership has
  recorded acquisition costs at March 31, 2001, which have not been accounted
  for in the net assets of the operating limited partnerships (see note A).
  (667,777)
  8,269
  318,328The partnership has
  recorded a share of losses from operating limited partnerships for the three
  months ended March 31, 2001, which the operating limited partnerships have
  not included in their capital accounts as of December 31, 2000 due to
  different year ends (see note A).
  -
  -
  -The partnership has
  recorded low income housing tax credit adjusters not recorded by operating
  limited partnerships (see note A).
  14,643
  -
  25,574Equity in losses from
  operating limited partnerships not recognizable under the equity method of
  accounting (see note A).
  (3,726,452)
  (1,079,254)
  (1,447,551)Impairment loss in
  investment in operating limited partnerships
  654,684
  450,835
  632,315Other
  47,822
  (118,706)
  209,556Equity per operating
  limited partnerships combined financial statements
  $916,367
  $(367,883)
  $3,334,817The
partnerships investments in operating limited partnerships at March 31, 2000
are summarized as follows:TotalCapital contributions
  paid to operating limited partnerships, net of tax credit adjusters
  $69,626,749Acquisition costs of
  operating limited partnerships
  11,976,945Syndication costs from
  operating limited partnerships
  (45,526)Cumulative
  distributions from operating limited partnerships
  (103,544)Impairment loss in
  investment in operating limited partnerships
  (4,017,052)Cumulative losses from
  operating limited partnerships
  (66,600,046)Investment in operating
  limited partnerships per balance sheets
  10,837,526The partnership
  has  recorded capital contributions to
  the operating limited partnerships during the year ended March 31, 2000 which
  have not been included in the partnerships capital account included in the
  operating limited partnerships financial statements as of December 31, 1999
  (see note A).
  (479,273)The partnership has
  recorded acquisition costs at March 31, 2000, which have not been accounted
  for in the net assets of the operating limited partnerships (see note A).
  (829,599)The partnership has
  recorded a share of losses from operating limited partnerships for the three
  months ended March 31, 2000, which the operating limited partnerships have
  not included in their capital accounts as of December 31, 1999 due to
  different year ends (see note A).
  1,466,033The partnership has
  recorded low income housing tax credit adjusters not recorded by operating
  limited partnerships (see note A).
  182,948Equity in losses from
  operating limited partnerships not recognizable under the equity method of
  accounting (see note A).
  (56,332,250)Impairment loss in
  investment in operating limited partnerships
  4,017,052Other
  599,233Equity per operating
  limited partnerships combined financial statements
  $(40,538,330)The
partnerships investments in operating limited partnerships at March 31, 2000
are summarized as follows:Series
  1
  Series
  2
  Series
  3Capital contributions
  paid to operating limited partnerships, net of tax credit adjusters
  $9,037,551
  $5,565,026
  $20,710,406Acquisition costs of
  operating limited partnerships
  1,569,525
  1,005,656
  3,486,122Syndication costs from
  operating limited partnerships
  -
  -
  -Cumulative
  distributions from operating limited partnerships
  (4,140)
  (6,246)
  (48,075)Impairment loss in
  investment in operating limited partnerships
  -
  (876,844)
  (1,402,374)Cumulative losses from
  operating limited partnerships
  (10,602,936)
  (5,192,620)
  (22,163,406)Investment in operating
  limited partnerships per balance sheets
  -
  494,972
  582,673The partnership
  has  recorded capital contributions to
  the operating limited partnerships during the year ended March 31, 2000,
  which have not been included in the partnerships capital account included in
  the operating limited partnerships financial statements as of December 31,
  1999 (see note A).
  -
  (311,339)
  (133,349)The partnership has
  recorded acquisition costs at March 31, 2000, which have not been accounted
  for in the net assets of the operating limited partnerships (see note A).
  (578,746)
  (46,332)
  116,865The partnership has
  recorded a share of losses from operating limited partnerships for the three
  months ended March 31, 2000, which the operating limited partnerships have
  not included in their capital accounts as of December 31, 1999 due to
  different year ends (see note A).
  667,397
  -
  798,636The partnership has
  recorded low income housing tax credit adjusters not recorded by operating
  limited partnerships (see note A).
  31,815
  63,725
  47,191Equity in losses from
  operating limited partnerships not recognizable under the equity method of
  accounting (see note A).
  (25,494,010)
  (2,331,503)
  (12,771,703)Impairment loss in
  investment in operating limited partnerships
  -
  876,844
  1,402,374Other
  67,996
  (152,348)
  306,174Equity per operating
  limited partnerships combined financial statements
  $(25,305,548)
  $(1,405,981)
  $(9,651,139)The
partnerships investments in operating limited partnerships at March 31, 2000
are summarized as follows:Series
  4
  Series
  5
  Series
  6Capital contributions
  paid to operating limited partnerships, net of tax credit adjusters
  $21,719,700
  $3,273,323
  $9,320,743Acquisition costs of
  operating limited partnerships
  3,661,756
  599,776
  1,654,110Syndication costs from
  operating limited partnerships
  -
  (45,526)
  -Cumulative
  distributions from operating limited partnerships
  (12,414)
  -
  (32,669)Impairment loss in
  investment in operating limited partnerships
  (654,684)
  (450,835)
  (632,315)Cumulative losses from
  operating limited partnerships
  (19,030,137)
  (2,876,077)
  (6,734,870)Investment in
  operating limited partnerships per balance sheets
  5,684,221
  500,661
  3,574,999The partnership has  recorded capital contributions to the
  operating limited partnerships during the year ended March 31, 2000, which
  have not been included in the partnerships capital account included in the
  operating limited partnerships financial statements as of December 31, 1999
  (see note A).
  -
  (34,585)
  -The partnership has
  recorded acquisition costs at March 31, 2000, which have not been accounted
  for in the net assets of the operating limited partnerships (see note A).
  (647,983)
  8,269
  318,328The partnership has
  recorded a share of losses from operating limited partnerships for the three
  months ended March 31, 2000, which the operating limited partnerships have
  not included in their capital accounts as of December 31, 1999 due to
  different year ends (see note A).
  -
  -
  -The partnership has
  recorded low income housing tax credit adjusters not recorded by operating
  limited partnerships (see note A).
  14,643
  -
  25,574Equity in losses from
  operating limited partnerships not recognizable under the equity method of
  accounting (see note A).
  (13,694,874)
  (1,095,261)
  (944,899)Impairment loss in
  investment in operating limited partnerships
  654,684
  450,835
  632,315Other
  170,061
  (2,212)
  209,562Equity per operating
  limited partnerships combined financial statements
  $(7,819,248)
  $(172,293)
  $3,815,879The
combined summarized balance sheets of the operating limited partnerships at
December 31, 2000 are as follows:COMBINED
SUMMARIZED BALANCE SHEETS

Total
  Series
  1
  Series
  2
  Series
  3ASSETSBuildings and
  improvements, net of accumulated depreciation
  $176,877,753
  $16,205,390
  $19,475,031
  $44,946,252Land
  14,038,438
  1,487,098
  1,123,628
  3,788,603Other assets
  16,816,372
  3,547,841
  1,265,508
  4,075,295$207,732,563
  $21,240,329
  $21,864,167
  $52,810,150LIABILITIES
  AND
  PARTNERS CAPITALMortgages and
  construction loans payable
  $195,765,291
  $34,867,862
  $17,777,023
  $54,525,287Accounts payable and
  accrued expenses
  28,783,147
  6,684,823
  2,119,090
  7,291,059Other liabilities
  22,909,849
  1,775,184
  3,850,362
  4,829,999247,458,287
  43,327,869
  23,746,475
  66,646,345PARTNERS CAPITALBoston Capital Tax Credit Fund Limited
  Partnership
  (31,595,055)
  (21,962,824)
  (1,847,171)
  (11,668,361)Other partners
  (8,130,669)
  (124,716)
  (35,137)
  (2,167,834)(39,725,724)
  (22,087,540)
  (1,882,308)
  (13,836,195)$207,732,563
  $21,240,329
  $21,864,167
  $52,810,150The
combined summarized balance sheets of the operating limited partnerships at
December 31, 2000 are as follows:COMBINED
SUMMARIZED BALANCE SHEETS - CONTINUED

Series
  4
  Series
  5
  Series
  6ASSETSBuildings and
  improvements, net of accumulated depreciation
  $48,115,807
  $15,364,584
  $32,770,689Land
  3,990,985
  880,396
  2,767,728Other assets
  3,860,367
  392,350
  3,675,011$55,967,159
  $16,637,330
  $39,213,428LIABILITIES
  AND
  PARTNERS CAPITALMortgages and
  construction loans payable
  $44,904,497
  $12,828,859
  $30,861,763Accounts payable and
  accrued expenses
  7,248,162
  2,278,221
  3,161,792Other liabilities
  5,762,096
  3,055,429
  3,636,77957,914,755
  18,162,509
  37,660,334PARTNERS CAPITALBoston Capital Tax Credit Fund Limited
  Partnership
  916,367
  (367,883)
  3,334,817Other partners
  (2,863,963)
  (1,157,296)
  (1,781,723)(1,947,596)
  (1,525,179)
  1,553,094$55,967,159
  $16,637,330
  $39,213,428The
combined summarized balance sheets of the operating limited partnerships at
December 31, 1999 are as follows:COMBINED
SUMMARIZED BALANCE SHEETS

Total
  Series
  1
  Series
  2
  Series
  3ASSETSBuildings and
  improvements, net of accumulated depreciation
  $183,877,894
  $17,383,580
  $19,988,811
  $46,817,054Land
  14,208,150
  1,586,098
  1,123,628
  3,788,603Other assets
  17,105,400
  3,466,571
  1,279,853
  4,337,991$215,191,444
  $22,436,249
  $22,392,292
  $54,943,648LIABILITIES
  AND
  PARTNERS CAPITALMortgages and
  construction loans payable
  $218,997,833
  $44,732,966
  $19,082,646
  $54,891,236Accounts payable and
  accrued expenses
  37,725,502
  11,815,977
  2,134,488
  6,782,150Other liabilities
  21,851,163
  2,130,252
  3,208,121
  4,719,495278,574,498
  58,679,195
  24,425,255
  66,392,881PARTNERS CAPITALBoston Capital Tax Credit Fund Limited
  Partnership
  (40,538,330)
  (25,305,548)
  (1,405,981)
  (9,651,139)Other partners
  (22,844,724)
  (10,937,398)
  (626,982)
  (1,798,094)(63,383,054)
  (36,242,946)
  (2,032,963)
  (11,449,233)$215,191,444
  $22,436,249
  $22,392,292
  $54,943,648The
combined summarized balance sheets of the operating limited partnerships at
December 31, 1999 are as follows:COMBINED
SUMMARIZED BALANCE SHEETS - CONTINUED

Series
  4
  Series
  5
  Series
  6ASSETSBuildings and
  improvements, net of accumulated depreciation
  $50,413,319
  $15,767,075
  $33,508,055Land
  4,061,697
  880,396
  2,767,728Other assets
  3,899,520
  451,851
  3,669,614$58,374,536
  $17,099,322
  $39,945,397LIABILITIES
  AND
  PARTNERS CAPITALMortgages and
  construction loans payable
  $54,492,442
  $14,201,111
  $31,597,432Accounts payable and
  accrued expenses
  12,088,892
  2,217,998
  2,685,997Other liabilities
  6,353,082
  2,367,056
  3,073,15772,934,416
  18,786,165
  37,356,586PARTNERS CAPITALBoston Capital Tax Credit Fund Limited Partnership
  (7,819,248)
  (172,293)
  3,815,879Other partners
  (6,740,632)
  (1,514,550)
  (1,227,068)(14,559,880)
  (1,686,843)
  2,588,811$58,374,536
  $17,099,322
  $39,945,397The
combined summarized statements of operations of the operating limited
partnerships at December 31, 2000 are as follows:COMBINED
SUMMARIZED STATEMENTS OF OPERATIONS

Total
  Series
  1
  Series
  2
  Series
  3RevenueRental
  $33,025,913
  $5,018,260
  $2,011,045
  $8,052,625Interest and other
  4,202,461
  200,926
  1,027,326
  971,84437,228,374
  5,219,186
  3,038,371
  9,024,469ExpensesInterest
  11,107,477
  1,036,726
  774,714
  3,075,614Depreciation and amortization
  9,140,672
  1,059,179
  585,120
  2,516,423Taxes and insurance
  3,831,540
  685,423
  182,902
  879,076Repairs and maintenance
  6,727,661
  1,187,286
  501,663
  1,601,618Operating expenses
  12,153,829
  2,225,792
  945,543
  3,005,092Other expenses
  1,377,080
  125,240
  35,465
  404,276Impairment loss
  -
  -
  -
  -44,338,259
  6,319,646
  3,025,407
  11,482,099NET LOSS
  $(7,109,885)
  $(1,100,460)
  $12,964
  $(2,457,630)Net loss allocated to
  Boston Capital Tax Credit Fund Limited Partnership*
  $(5,891,022)
  $(1,090,707)
  $(305,905)
  $(2,016,905)Net loss allocated to
  other partners
  $(1,218,863)
  $(9,753)
  $318,869
  $(440,725)*           Amounts include $1,090,708, $136,731,
$1,640,914, $803,790, $24,868 and $502,652 for Series 1, Series 2, Series 3,
Series 4, Series 5 and Series 6, respectively, of loss not recognized under the
equity method of accounting as described in note A.The
combined summarized statements of operations of the operating limited
partnerships at December 31, 2000 are as follows:COMBINED
SUMMARIZED STATEMENTS OF OPERATIONS - CONTINUED

Series
  4
  Series
  5
  Series
  6RevenueRental
  $9,326,248
  $1,464,552
  $7,153,183Interest and other
  619,397
  965,460
  417,5089,945,645
  2,430,012
  7,570,691ExpensesInterest
  3,344,596
  513,003
  2,362,824Depreciation and amortization
  2,673,148
  458,314
  1,848,488Taxes and insurance
  1,141,428
  107,854
  834,857Repairs and maintenance
  1,861,483
  431,748
  1,143,863Operating expenses
  3,190,729
  683,634
  2,103,039Other expenses
  468,915
  73,795
  269,389Impairment loss
  -
  -
  -12,680,299
  2,268,348
  8,562,460NET LOSS
  $(2,734,654)
  $161,664
  $(991,769)Net loss allocated to
  Boston Capital Tax Credit Fund Limited Partnership*
  $(1,894,564)
  $(119,971)
  $(462,970)Net loss allocated to
  other partners
  $(840,090)
  $281,635
  $(528,799)*           Amounts include $1,090,708, $136,731,
$1,640,914, $803,790, $24,868 and $502,652 for Series 1, Series 2, Series 3,
Series 4, Series 5 and Series 6, respectively, of loss not recognized under the
equity method of accounting as described in note AThe
combined summarized statements of operations of the operating limited
partnerships at December 31, 1999 are as follows:COMBINED
SUMMARIZED STATEMENTS OF OPERATIONS

Total
  Series
  1
  Series
  2
  Series
  3RevenueRental
  $33,142,955
  $5,525,500
  $1,830,157
  $8,111,737Interest and other
  2,693,424
  218,484
  405,251
  1,093,77835,836,379
  5,743,984
  2,235,408
  9,205,515ExpensesInterest
  14,203,595
  1,488,722
  1,642,224
  3,410,197Depreciation and amortization
  9,884,058
  1,271,463
  573,077
  2,798,615Taxes and insurance
  3,815,051
  750,280
  186,841
  826,622Repairs and maintenance
  6,644,604
  1,276,601
  581,960
  1,426,796Operating expenses
  11,912,564
  2,445,291
  750,084
  2,922,873Other expenses
  1,665,421
  256,841
  120,509
  497,401Impairment loss
  2,664,144
  2,664,144
  -
  -50,789,437
  10,153,342
  3,854,695
  11,882,504NET LOSS
  $(14,953,058)
  $(4,409,358)
  $(1,619,287)
  $(2,676,989)Net loss allocated to
  Boston Capital Tax Credit Fund Limited Partnership*
  $(10,178,945)
  $(3,936,028)
  $(791,865)
  $(2,327,228)Net loss allocated to
  other partners
  $(4,774,113)
  $(473,330)
  $(827,422)
  $(349,761)*           Amounts include $3,911,661, $556,312,
$1,621,715, $1,274,231, $273,477 and $417,839 for Series 1, Series 2, Series 3,
Series 4, Series 5 and Series 6, respectively, of loss not recognized under the
equity method of accounting as described in note A.The
combined summarized statements of operations of the operating limited
partnerships at December 31, 1999 are as follows:COMBINED
SUMMARIZED STATEMENTS OF OPERATIONS - CONTINUED

Series
  4
  Series
  5
  Series
  6RevenueRental
  $9,333,223
  $1,380,711
  $6,961,627Interest and other
  313,477
  254,815
  407,6199,646,700
  1,635,526
  7,369,246ExpensesInterest
  3,768,339
  1,387,700
  2,506,413Depreciation and amortization
  2,947,249
  448,960
  1,844,694Taxes and insurance
  1,144,962
  107,287
  799,059Repairs and maintenance
  1,755,932
  463,878
  1,139,437Operating expenses
  3,241,347
  571,373
  1,981,596Other expenses
  469,558
  86,216
  234,896Impairment loss
  -
  -
  -13,327,387
  3,065,414
  8,506,095NET LOSS
  $(3,680,687)
  $(1,429,888)
  $(1,136,849)Net loss allocated to
  Boston Capital Tax Credit Fund Limited Partnership*
  $(2,238,539)
  $(370,959)
  $(514,326)Net loss allocated to
  other partners
  $(1,442,148)
  $(1,058,929)
  $(622,523)*           Amounts include $3,911,661, $556,312,
$1,621,715, $1,274,231, $273,477 and $417,839 for Series 1, Series 2, Series 3,
Series 4, Series 5 and Series 6, respectively, of loss not recognized under the
equity method of accounting as described in note A.The
combined summarized statements of operations of the operating limited
partnerships at December 31, 1998 are as follows:COMBINED
SUMMARIZED STATEMENTS OF OPERATIONS

Total
  Series
  1
  Series
  2
  Series
  3RevenueRental
  $32,611,065
  $5,476,338
  $1,813,038
  $7,793,254Interest and other
  1,955,128
  204,070
  379,897
  437,54234,566,193
  5,680,408
  2,192,935
  8,230,796ExpensesInterest
  13,745,034
  1,460,249
  1,319,051
  3,484,379Depreciation and amortization
  11,048,613
  2,033,421
  585,658
  2,778,169Taxes and insurance
  3,941,585
  793,154
  186,362
  903,295Repairs and maintenance
  6,396,684
  1,214,687
  468,981
  1,530,945Operating expenses
  11,414,287
  2,441,030
  708,748
  2,728,318Other expenses
  1,430,679
  260,448
  168,415
  217,327Impairment loss
  32,826,270
  16,100,127
  -
  4,330,00080,803,152
  24,303,116
  3,437,215
  15,972,433NET LOSS
  $(46,236,959)
  $(18,622,708)
  $(1,244,280)
  $(7,741,637)Net loss allocated to
  Boston Capital Tax Credit Fund Limited Partnership*
  $(28,696,904)
  $(12,160,235)
  $(635,601)
  $(6,114,066)Net loss allocated to
  other partners
  $(17,540,055)
  $(6,462,473)
  $(608,679)
  $(1,627,571)*           Amounts include $12,144,194,
$354,621, $3,947,489, $7,482,391, $199,040 and $312,750 for Series 1, Series 2,
Series 3, Series 4, Series 5 and Series 6, respectively, of loss not recognized
under the equity method of accounting as described in note A.The
combined summarized statements of operations of the operating limited
partnerships at December 31, 1998 are as follows:COMBINED
SUMMARIZED STATEMENTS OF OPERATIONS - CONTINUED

Series
  4
  Series
  5
  Series
  6RevenueRental
  $9,165,944
  $1,393,031
  $6,969,460Interest and other
  342,479
  251,970
  339,1709,508,423
  1,645,001
  7,308,630ExpensesInterest
  3,786,804
  1,131,728
  2,562,823Depreciation and amortization
  3,360,783
  456,647
  1,833,935Taxes and insurance
  1,173,513
  107,767
  777,494Repairs and maintenance
  1,607,399
  420,319
  1,154,353Operating expenses
  3,158,052
  547,024
  1,831,115Other expenses
  462,877
  111,824
  209,788Impairment loss
  12,396,143
  -
  -25,945,571
  2,775,309
  8,369,508NET LOSS
  $(16,437,148)
  $(1,130,308)
  $(1,060,878)Net loss allocated to
  Boston Capital Tax Credit Fund Limited Partnership*
  $(8,931,681)
  $(323,215)
  $(532,106)Net loss allocated to
  other partners
  $(7,505,467)
  $(807,093)
  $(528,772)*           Amounts include $12,144,194, $354,621, $3,947,489,
$7,482,391, $199,040 and $312,750 for Series 1, Series 2, Series 3, Series 4,
Series 5 and Series 6, respectively, of loss not recognized under the equity
method of accounting as described in note A.NOTE D - RECONCILIATION OF FINANCIAL
STATEMENT NET LOSS TO INCOME TAX RETURN

The
partnerships net loss for financial reporting purposes and net income (loss)
for income tax return purposes for the year ended March 31, 2001 is reconciled
as follows:Total
  Series
  1
  Series
  2
  Series
  3Net loss for financial
  reporting purposes
  $(2,686,926)
  $(196,973)
  $(249,145)
  $(666,187)Add:  Related party expenses
  -
  -
  -
  -Other
  7,504,210
  1,970,656
  -
  465,727Excess of book depreciation over
  tax depreciation on operating limited partnerships
  -
  -
  -
  -Less: Excess of tax
  depreciation over book depreciation on operating limited partnership assets
  (1,003,585)
  (473,740)
  (105,780)
  (242,642)Operating limited partnership loss
  not allowed for financial reporting under equity method of accounting
  (4,199,662)
  (1,090,707)
  (136,731)
  (1,640,914)Other
  (835,551)
  -
  (592,262)
  -Related party expenses
  -
  -
  -
  -Impairment loss not
  recognized for tax purposes
  -
  -
  -
  -Impairment loss in
  investment in operating limited partnerships
  -
  -
  -
  -Difference due to
  fiscal year for book purposes and calendar year for tax purposes
  333,991
  1,780
  210,104
  3,645Partnership management
  fees not deductible for tax purposes until paid
  951,072
  180,864
  67,344
  269,988Income (loss) for
  income tax return purposes, year ended December 31, 2000
  $63,549
  $391,880
  $(806,470)
  $(1,810,383)The
partnerships net loss for financial reporting purposes and net income (loss)
for income tax return purposes for the year ended March 31, 2001 is reconciled
as follows:Series
  4
  Series
  5
  Series
  6Net loss for financial
  reporting purposes
  $(1,345,114)
  $(141,558)
  $(87,949)Add:  Related party expenses
  -
  -
  -Other
  5,011,696
  -
  56,131Excess of book depreciation over
  tax depreciation on operating limited partnerships
  -
  -
  -Less: Excess of tax
  depreciation over book depreciation on operating limited partnership assets
  (73,645)
  (18,854)
  (88,924)Operating limited partnership loss
  not allowed for financial reporting under equity method of accounting
  (803,790)
  (24,868)
  (502,652)Other
  -
  (243,289)
  -Related party expenses
  -
  -
  -Impairment loss not
  recognized for tax purposes
  -
  -
  -Impairment loss in
  investment in operating limited partnerships
  -
  -
  -Difference due to
  fiscal year for book purposes and calendar year for tax purposes
  4,149
  114,541
  (228)Partnership management
  fees not deductible for tax purposes until paid
  250,884
  37,716
  144,276Income (loss) for
  income tax return purposes, year ended December 31, 2000
  $3,044,180
  $(276,312)
  $(479,346)The
partnerships net loss for financial reporting and income tax return purposes
for the year ended March 31, 2000 is reconciled as follows:Total
  Series
  1
  Series
  2
  Series
  3Net loss for financial
  reporting purposes
  $(2,852,541)
  $(217,292)
  $(111,370)
  $(1,000,227)Add:  Related party expenses
  218,699
  -
  -
  -Other
  359,803
  33,055
  89,927
  -Excess of book depreciation over
  tax depreciation on operating limited partnerships
  -
  -
  -
  -Less: Excess of tax
  depreciation over book depreciation on operating limited partnership assets
  (1,404,996)
  (574,281)
  (185,317)
  (154,491)Operating limited partnership loss
  not allowed for financial reporting under equity method of accounting
  (8,006,431)
  (3,911,661)
  (556,312)
  (1,608,911)Other
  (60,791)
  -
  -
  (60,791)Related party expenses
  -
  -
  -
  -Impairment loss not
  recognized for tax purposes
  2,664,144
  2,664,144
  -
  -Impairment loss in
  investment in operating limited partnerships
  -
  -
  -
  -Difference due to
  fiscal year for book purposes and calendar year for tax purposes
  (369,550)
  (428)
  (210,211)
  (3,583)Partnership management
  fees not deductible for tax purposes until paid
  954,708
  180,864
  69,240
  269,988Loss for income tax
  return purposes, year ended December 31, 1999
  $(8,496,955)
  $(1,825,599)
  $(904,043)
  $(2,558,015)The
partnerships net loss for financial reporting and income tax return purposes
for the year ended March 31, 2000 is reconciled as follows:Series
  4
  Series
  5
  Series
  6Net loss for financial
  reporting purposes
  $(1,242,582)
  $(33,477)
  $(247,593)Add:  Related party expenses
  -
  9,207
  209,492Other
  236,821
  -
  -Excess of book depreciation over
  tax depreciation on operating limited partnerships
  -
  -
  -Less: Excess of tax
  depreciation over book depreciation on operating limited partnership assets
  (350,332)
  (43,539)
  (97,036)Operating limited partnership loss
  not allowed for financial reporting under equity method of accounting
  (1,274,231)
  (237,477)
  (417,839)Other
  -
  -
  -Related party expenses
  -
  -
  -Impairment loss not
  recognized for tax purposes
  -
  -
  -Impairment loss in
  investment in operating limited partnerships
  -
  -
  -Difference due to
  fiscal year for book purposes and calendar year for tax purposes
  (5,348)
  (151,437)
  1,457Partnership management
  fees not deductible for tax purposes until paid
  250,884
  39,456
  144,276Loss for income tax
  return purposes, year ended December 31, 1999
  $(2,384,788)
  $(417,267)
  $(407,243)The
partnerships net loss for financial reporting and income tax return purposes
for the year ended March 31, 1999 is reconciled as follows:Total
  Series
  1
  Series
  2
  Series
  3Net loss for financial
  reporting purposes
  $(9,340,588)
  $(215,885)
  $(1,244,534)
  $(3,864,696)Add:  Related party expenses
  61,977
  444
  18,442
  5,243Other
  430,478
  -
  25,174
  222,141Excess of book depreciation over
  tax depreciation on operating limited partnerships
  65,077
  40,031
  -
  10,663Less: Excess of tax
  depreciation over book depreciation on operating limited partnership assets
  (289,982)
  -
  (139,232)
  -Operating limited partnership loss
  not allowed for financial reporting under equity method of accounting
  (24,440,485)
  (12,144,194)
  (354,621)
  (3,947,489)Other
  (56,251)
  (42,698)
  (13,553)
  -Related party expenses
  (89,665)
  -
  (36,004)
  -Impairment loss not
  recognized for tax purposes
  20,285,825
  10,352,825
  -
  3,539,775Impairment loss in
  investment in operating limited partnerships
  4,017,052
  -
  876,844
  1,402,374Difference due to
  fiscal year for book purposes and calendar year for tax purposes
  14,180
  495
  325
  12,778Partnership management
  fees not deductible for tax purposes until paid
  954,708
  180,864
  69,240
  269,988Loss for income tax
  return purposes, year ended December 31, 1998
  $(8,387,674)
  $(1,828,118)
  $(797,919)
  $(2,349,223)The
partnerships net loss for financial reporting and income tax return purposes
for the year ended March 31, 1999 is reconciled as follows:Series
  4
  Series
  5
  Series
  6Net loss for financial
  reporting purposes
  $(2,387,137)
  $(626,591)
  $(1,001,745)Add:  Related party expenses
  18,071
  16,783
  2,994Other
  183,163
  -
  -Excess of book depreciation over
  tax depreciation on operating limited partnerships
  14,383
  -
  -Less: Excess of tax
  depreciation over book depreciation on operating limited partnership assets
  -
  (43,246)
  (107,504)Operating limited partnership loss
  not allowed for financial reporting under equity method of accounting
  (7,482,391)
  (199,040)
  (312,750)Other
  -
  -
  -Related party expenses
  (2,304)
  (6,384)
  (44,973)Impairment loss not
  recognized for tax purposes
  6,393,225
  -
  -Impairment loss in
  investment in operating limited partnerships
  654,684
  450,835
  632,315Difference due to
  fiscal year for book purposes and calendar year for tax purposes
  2,245
  (271)
  (1,392)Partnership management
  fees not deductible for tax purposes until paid
  250,884
  39,456
  144,276Loss for income tax
  return purposes, year ended December 31, 1998
  $(2,355,177)
  $(368,458)
  $(688,779)The
differences between the investments in operating limited partnerships for tax
purposes and financial statements purposes are primarily due to the differences
in the losses not recognized under the equity method of accounting and the
historic tax credits taken for income tax purposes. At March 31, 2001, the
differences are as follows:Total
  Series
  1
  Series
  2
  Series
  3Investment in
  operating limited partnerships - tax return December 31, 2000
  $(16,366,191)
  $(11,509,000)
  $(1,484,768)
  $(6,134,723)Add back losses not
  recognized under the equity method
  45,141,707
  22,081,031
  2,394,802
  14,412,617Historic tax credits
  5,438,567
  -
  -
  1,754,704Less share of loss -
  three months ended March 31, 2001
  (1,466,033)
  (667,397)
  -
  (798,636)Impairment loss not
  recognized for tax purposes
  (14,964,488)
  (10,677,788)
  -
  (3,539,775)Impairment loss in
  investment in operating limited partnerships
  (4,017,052)
  -
  (876,844)
  (1,402,374)Other
  (4,638,483)
  773,154
  292,608
  (4,085,184)Investment in
  operating limited partnerships - as reported
  $9,128,027
  $-
  $325,798
  $206,629The
differences between the investments in operating limited partnerships for tax
purposes and financial statements purposes are primarily due to the differences
in the losses not recognized under the equity method of accounting and the
historic tax credits taken for income tax purposes. At March 31, 2001, the
differences are as follows:Series
  4
  Series
  5
  Series
  6Investment in
  operating limited partnerships - tax return December 31, 2000
  $756,551
  $277,679
  $1,728,070Add back losses not
  recognized under the equity method
  3,726,452
  1,079,254
  1,447,551Historic tax credits
  3,125,698
  -
  558,165Less share of loss -
  three months ended March 31, 2001
  -
  -
  -Impairment loss not
  recognized for tax purposes
  (746,925)
  -
  -Impairment loss in
  investment in operating limited partnerships
  (654,684)
  (450,835)
  (632,315)Other
  (1,613,645)
  (500,540)
  495,124Investment in
  operating limited partnerships - as reported
  $4,593,447
  $405,558
  $3,596,595The
differences between the investments in operating limited partnerships for tax
purposes and financial statements purposes are primarily due to the differences
in the losses not recognized under the equity method of accounting and the
historic tax credits taken for income tax purposes. At March 31, 2000, the
differences are as follows:Total
  Series
  1
  Series
  2
  Series
  3Investment in
  operating limited partnerships - tax return December 31, 1999
  $(16,122,067)
  $(11,915,208)
  $(480,821)
  $(4,340,812)Add back losses not
  recognized under the equity method
  56,332,250
  25,494,010
  2,331,503
  12,771,703Historic tax credits
  5,438,567
  -
  -
  1,754,704Less share of loss -
  three months ended March 31, 2000
  (1,466,033)
  (667,397)
  -
  (798,636)Impairment loss not
  recognized for tax purposes
  (22,949,969)
  (13,016,969)
  -
  (3,539,775)Impairment loss in
  investment in operating limited partnerships
  (4,017,052)
  -
  (876,844)
  (1,402,374)Other
  (6,378,170)
  105,564
  (478,866)
  (3,862,137)Investment in
  operating limited partnerships - as reported
  $10,837,526
  $-
  $494,972
  $582,673The
differences between the investments in operating limited partnerships for tax
purposes and financial statements purposes are primarily due to the differences
in the losses not recognized under the equity method of accounting and the
historic tax credits taken for income tax purposes. At March 31, 2000, the
differences are as follows:Series
  4
  Series
  5
  Series
  6Investment in
  operating limited partnerships - tax return December 31, 1999
  $(2,286,937)
  $659,792
  $2,241,919Add back losses not
  recognized under the equity method
  13,694,874
  1,095,261
  944,899Historic tax credits
  3,125,698
  -
  558,165Less share of loss -
  three months ended March 31, 2000
  -
  -
  -Impairment loss not
  recognized for tax purposes
  (6,393,225)
  -
  -Impairment loss in
  investment in operating limited partnerships
  (654,684)
  (450,835)
  (632,315)Other
  (1,801,505)
  (803,557)
  462,331Investment in
  operating limited partnerships - as reported
  $5,684,221
  $500,661
  $3,574,999NOTE E - CASH EQUIVALENTS

Cash equivalents of $194,624 and $149,448 as of March
31, 2001 and 2000, respectively, include a repurchase agreement and a money
market account with interest rates ranging from 2.00% to 2.07% per annum.


COLUMBIA PARK ASSOCIATES

A WASHINGTON LIMITED PARTNERSHIP



COLUMBIA PARK ASSOCIATES

PROJECT NO.  WA-19K065001

TABLE OF CONTENTS



_Page_



INDEPENDENT AUDITOR'S REPORT	1



FINANCIAL STATEMENTS



Balance Sheet	2 - 3



Statements of Income	4



Statement of Changes in Partners' Equity	5



Statements of Cash Flows	6



Notes to Financial Statements	7 - 11



Supplementary Information	12-14



CERTIFICATION OF PARTNERS	15



MANAGEMENT AGENT'S CERTIFICATION	16



INDEPENDENT AUDITOR'S REPORT



To the Partners

Columbia Park Apartments



We have audited the accompanying balance sheet of HUD Project No. WA-19K065001, of Columbia Park Apartments (Project), as of December 31, 2000 and 1999, and the related statements of operations, changes in partners' equity, and cash
flows for the years then ended.  These financial statements are the responsibility of the Projects' management.  Our responsibility is to express an opinion on these financial statements based on our audit.



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



In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Project as of December 31, 2000 and 1999, and the results of its operations, change in partners' equity,
and cash flows for the years then ended in conformity with generally accepted accounting principles.



Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole.  The accompanying supplemental information on pages 12 to 14 is presented for purposes of additional analysis and is
not a required part of the basic financial statements of the Project.  Such information has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated, in all material respects,
in relation to the basic financial statements taken as a whole.









Ogden, Utah

February 12, 2001	______________________________________

Kay L. Bowen, CPA, President

Kay L. Bowen & Associates, P.C.

Federal I.D. #87-0448933



BALANCE SHEET

DECEMBER 31, 2000 and 1999





ASSETS



CURRENT ASSETS



|                                        | 2000        |  | 1999       
|--------------------------------------- | ----------- |  | -----------
|Current Assets:                         |             |  |            
|Cash                                    | $	202,450   |  | $	240,913  
|Tenant account receivable               | 1,776       |  | 35         
|Accounts receivable - subsidy           | 6,430       |  | 10,064     
|Miscellaneous receivables               | -           |  | 1,916      
|Miscellaneous prepaid expense           | 35,872      |  | 44,241     
|Total Current Assets                    |             |  |            
|                                        |             |  |            
|RESTRICTED DEPOSITS AND FUNDED RESERVES |             |  |            
|                                        |             |  |            
|Tenant security deposits                | 24,276      |  | 22,898     
|Reserve for replacements                | 94,722      |  | 86,955     
|Reserve for bond retirement             | 406,405     |  | 393,851    
|Total deposits                          |             |  |            
|                                        |             |  |            
|FIXED ASSETS                            |             |  |            
|                                        |             |  |            
|Land                                    | 189,631     |  | 189,631    
|Buildings                               | 7,434,705   |  | 7,433,904  
|Building equipment                      | 71,604      |  | 66,176     
|Furnishings                             | 355,599     |  | 337,670    
|Office equipment                        | 11,187      |  | 11,187     
|Maintenance equipment                   | 43,655      |  | 42,921     
|Vehicles                                | 13,800      |  | 13,800     
|Total fixed assets                      |             |  |            
|Less Accumulated Depreciation           | (2,768,792) |  | (2,499,535)
|(Sub-total)                             |             |  |            
|                                        |             |  |            
|OTHER ASSETS                            |             |  |            
|                                        |             |  |            
|Organization, bond issuance,            |             |  |            
|refinancing costs                       | 450,303     |  | 450,303    
|Less Accumulated Amortization           | (290,927)   |  | (252,955)  
|                                        |             |  |            
|TOTAL OTHER ASSETS                      |             |  |            
|                                        |             |  |            
|TOTAL ASSETS                            | $           |  | $          



The accompanying notes and accountant's report should be read with these financial statements.

BALANCE SHEET

DECEMBER 31, 2000 and 1000





LIABILITIES





|                                       | 2000      |  | 1999     
|-------------------------------------- | --------- |  | ---------
|CURRENT LIABILITIES:                   |           |  |          
|                                       |           |  |          
|Accounts payable - Operations          | $	55,682  |  | $	58,869 
|Accounts payable - Other               | 31,032    |  | 31,032   
|Accrued expenses                       | 3,664     |  | 4,400    
|Accrued interest payable               | 340,311   |  | 392,305  
|Mortgage payable - Current portion     | 475,000   |  | 435,000  
|Prepaid revenue                        | 523       |  | 108      
|Total Current Liabilities              |           |  |          
|                                       |           |  |          
|DEPOSIT LIABILITIES:                   |           |  |          
|                                       |           |  |          
|Tenant Deposits held in Trust (Contra) | 24,276    |  | 22,898   
|                                       |           |  |          
|LONG-TERM LIABILITIES:                 |           |  |          
|                                       |           |  |          
|Notes payable (Long-Term)              | 752,553   |  | 752,553  
|Mortgage payable - First Mortgage      | 2,525,000 |  | 2,960,000
|Less Current Portion                   | (475,000) |  | (435,000)
|Total Long-Term Liabilities            |           |  |          
|                                       |           |  |          
|Total Liabilities                      |           |  |          
|                                       |           |  |          
|Partners' Equity                       | 2,549,655 |  | 2,371,810
|                                       |           |  |          
|TOTAL LIABILITIES AND PARTNERS' EQUITY | $         |  | $        



















The accompanying notes and accountant's report should be read with these financial statements.

STATEMENT OF INCOME

DECEMBER 21, 2000 and 1999



|                              | 2000        |  | 1999       
|----------------------------- | ----------- |  | -----------
|REVENUE:                      |             |  |            
|                              |             |  |            
|Rent                          | $	1,323,376 |  | $	1,302,621
|Financial                     | 6,133       |  | 7,621      
|Other                         | 23,373      |  | 13,821     
|                              |             |  |            
|TOTAL REVENUE                 |             |  |            
|                              |             |  |            
|EXPENSES:                     |             |  |            
|                              |             |  |            
|Administrative                | 135,396     |  | 135,291    
|Utilities                     | 61,731      |  | 62,603     
|Operating and maintenance     | 191,390     |  | 139,984    
|Taxes                         | 65,389      |  | 79,012     
|Insurance                     | 37,846      |  | 22,019     
|Financial                     | 345,024     |  | 384,120    
|Depreciation and Amortization | 307,229     |  | 301,094    
|                              |             |  |            
|TOTAL EXPENSES                |             |  |            
|                              |             |  |            
|Income from rental operations | 208,877     |  | 199,940    
|                              |             |  |            
|MORTGAGOR ENTITY EXPENSES:    |             |  |            
|                              |             |  |            
|Partnership management fees   | 26,032      |  | 26,032     
|Reporting fees                | 5,000       |  | 5,000      
|                              |             |  |            
|NET INCOME                    | $           |  | $          





























The accompanying notes and accountant's report should be read with these financial statements.

STATEMENT OF CHANGES IN PARTNERS' EQUITY

FOR THE YEAR ENDED DECEMBER 31, 2000 AND 1999







|Balance - January 1, 1999   |  |  | $	2,202,902
|--------------------------- |  |  | -----------
|                            |  |  |            
|Cash Distributions          |  |  | -          
|                            |  |  |            
|Net Income for 1999         |  |  | 168,908    
|                            |  |  |            
|Balance December 31, 1999   |  |  |            
|                            |  |  |            
|Cash Distributions          |  |  | -          
|                            |  |  |            
|Net Income for 2000         |  |  | 177,845    
|                            |  |  |            
|                            |  |  |            
|Balance - December 31, 2000 |  |  | $          























































The accompanying notes and accountant's report should be read with these financial statements.

STATEMENT OF CASH FLOWS

FOR THE TWO YEARS ENDED DECEMBER 31, 2000 AND 1999





|                                                     | 2000      |  | 1999     
|---------------------------------------------------- | --------- |  | ---------
|Cash Flows from Operating Activities                 |           |  |          
|Net Loss                                             | $	177,845 |  | $	168,908
|Adjustments to reconcile net income to net cash      |           |  |          
|provided by (used in) operating activities           |           |  |          
|Depreciation expenses                                | 269,257   |  | 270,610  
|Amortization expense                                 | 37,972    |  | 30,484   
|Decrease (Increase) in Accounts Receivable-Tenant    | (1,741)   |  | 2,714    
|Decrease (Increase) in Accounts Receivable-Subsidy   | 3,634     |  | (6,912)  
|Decrease (Increase) in Miscellaneous Receivable      | 1,916     |  | -        
|Decrease (Increase) in Prepaid Expenses              | 8,369     |  | (27,242) 
|Increase (Decrease) in Accounts Payable              | (3,187)   |  | 5,499    
|Increase (Decrease) in Accrued Liabilities           | (736)     |  | (8,962)  
|Increase (Decrease) in Accrued Interest Payable      | (51,994)  |  | (2,841)  
|Increase (Decrease) in Prepaid Revenue               | 415       |  | 42       
|                                                     |           |  |          
|Net Cash Provided by (Used in) Operating Activities  |           |  |          
|                                                     |           |  |          
|Cash Flows from Investing Activities                 |           |  |          
|Increase (Decrease)                                  |           |  |          
|Reserve for Replacement Account                      | (7,767)   |  | (59)     
|Reserve for Bond Retirement                          | (12,554)  |  | 141,850  
|Increase in Depreciable Assets                       | (24,892)  |  | (45,322) 
|Increase in Amortizable Assets                       | -         |  | (89,851) 
|                                                     |           |  |          
|Net Cash Provided by (Used in) Investing Activities  |           |  |          
|                                                     |           |  |          
|Cash Flows from Financing Activities                 |           |  |          
|Mortgage Principle Payments                          | (435,000) |  | (400,000)
|                                                     |           |  |          
|Net Cash Provided by (Used in) Financing Activities  |           |  |          
|                                                     |           |  |          
|Net Increase (Decrease) in Cash and Cash Equivalents |           |  |          
|                                                     |           |  |          
|Beginning of Period Cash                             | 240,913   |  | 201,995  
|                                                     |           |  |          
|End of Period Cash                                   | $         |  | $        
|                                                     |           |  |          
|Supplemental disclosure of cash flow information     |           |  |          
|Cash paid during the year for interest               | $	360,052 |  | $	342,349







The accompanying notes and accountant's report should be read with these financial statements.

Note 1 - Organization and Summary of Significant Accounting Policies:

Columbia Park Associates, A Washington Limited Partnership, was organized under the laws of the State of Washington on June 23, 1989, for the purpose of acquiring, rehabilitating and operating a low income residential apartment
project, known as Columbia Park Apartments.



The Project was completed January 1, 1990, in Richland, Washington, and is an apartment complex of 138 units.  The partnership agreement limits annual distributions of net operating receipts to "surplus cash" available at the
end of each year.  Surplus cash as of December 31, 2000 and 1999, amounted to $138,574 and $179,814, respectively.



The flowing significant accounting policies have been followed in the preparation of the financial statements:



Basis of Accounting



The financial statements of the partnership are prepared on the accrual basis of accounting and in accordance with generally accepted accounting principles.



Depreciation



Depreciation is generally provided using the straight-line method over the estimated useful lives of the assets.



Amortization



Bond issuance costs are amortized over the term of the bond period using the effective interest method.



Organizational cost are amortized over sixty months using the straight-line method.



Income Taxes



Income or loss of the Partnership is allocated to the general partners and to the limited partners.  No income tax provision has been included in the financial statements since income or loss of the Partnership is required to be
reported by the respective partners on their income tax returns.

Note 1 - Organization and Summary of Significant Accounting Policies, continued:

Use of Estimates



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



Cash and cash equivalents include:  petty cash, cash in bank, and escrow deposits.



Note 2 - Notes Payable and Due to General Partners:



Commission Developer Note Payable and Funds Held by Bond Trustee



Construction and permanent financing have been provided to the Partnership through the issuance of tax exempt bonds by the Washington State Housing Finance Commission, in the total amount of $5,685,000, which are evidenced by a
commission developer note.



The notes provides for interest only to be paid semi-annually on July 1 and January 1 at the weighted average rate of 7.28 percent, which rate is the average rate of the outstanding bonds, through December 31, 1990.  Beginning on
January 1, 1991, principal will be due along with the interest noted above on each semi-annual payment date.  Principal payments are made according to the bond amortization schedule, with final maturity on January 1, 2005.  The note, however, is subject
to certain prepayment provisions as discussed in the bond indenture.



Under the terms of the loan agreement, the mortgage lender has issued an irrevocable direct-pay letter of credit in the amount of $5,685,000 plus 198 days of interest on the bonds as additional security for the payment of the bonds.
Beginning on July 1, 1990, the Partnership was required to make monthly deposits with the mortgage lender into the "mortgage fund."  The amount charged for 2000 was $53,253 per month.  The monthly deposit amount charged for 1999 was $58,459 for
the first six months and $53,253 for the remaining six months.  The original letter of credit agreement expired on July 15, 1999.  A new letter of credit agreement has been established with Key Bank National Association.  The annual letter of credit fee
is 1.0 percent of the outstanding letter of credit balance and is due annually on the letter of credit anniversary date.



The liability of the Partnership under the note is limited to the underlying value of the real estate collateral, amounts deposited with the lender and an assignment of project rents and leases.



Note 2 - Notes Payable and Due to General Partners, continued:



Promissory Note Payable



The Partnership is obligated under the terms of an $800,000 promissory note, secured by a second deed of trust and subordinate to the note described in the previous paragraph.  The note bears interest at a rate of 15 percent and
provides for annual principal and interest payments to the extent of surplus cash flow, as defined in the agreement.  In the event that surplus cash flow is not sufficient to service the debt, the accrued interest will carry over, but will not bear
additional interest.  All unpaid principal and interest are due and payable on December 31, 2004.



The note is also secured by an unconditional and irrevocable letter of credit in the amount of $300,000 which letter of credit shall expire upon the payment of $300,000 of principal and/or interest.  If $300,000 has not been paid by
the earlier of December 31, 1995, or five years from commencement of the bond amortization, the lender may draw on the letter of credit up to the $300,000 total.  During 1991, the letter of credit was reduced by $228,269, the principal and interest
portion paid to Farr West Bank.  During 1993, the letter of credit was reduced by the remaining $71,371, the interest portion paid to Farr West Bank, leaving a zero balance.



The liability of the Partnership under the note is limited to the underlying value of the real estate collateral and an assignment of the project rents and leases.



Aggregate annual maturities of the notes described above for each of the next five years are as follows:





|December 31, |  | Amount  
|------------ |  | --------
|             |  |         
|2001         |  | $475,000
|2002         |  | $520,000
|2003         |  | $570,000
|2004         |  | $625,000
|2005         |  | $335,000











Note 3 - Transactions and Affiliates and Related Parties:



Management Fees



In accordance with the partnership agreement, the Partnership paid Kier Management Corporation, an affiliate of one of the general partners, management fees of $80,108 and $78,780, during 2000 and 1999, respectively, for services
rendered in connection with the leasing and operation of the Project.  The fee for its services is equal to 6 percent of the Project's rental income.



There are no notes payable to the management agent.



Reporting Fee



As of December 31, 2000, an annual reporting fee is payable to an affiliate of the investor limited partner, which holds a 99 percent interest in the Partnership, for services to be rendered in connection with the Partnership's
accounting matters relating to the investor limited partner.  The fee is based on the lessor of $5,000 or 0.375 percent of the aggregate cost of the project, as defined in the partnership agreement.  The fee is payable out of cash flow, as defined in the
partnership agreement.  The amount charged to operations during 2000 and 1999 was $5,000, resulting in a payable balance at December 31, 2000 and 1999, of $5,000.



Partners' Capital Contributions



The Partnership has two general partners - Landex Corporation and Kier Corporation, and one limited partner - Boston Capital Tax Credit Fund Limited Partnership.  Each general partner has made capital contributions of $100.00.



Annual Partnership Management Fee



An annual partnership management fee is due to the general partners for their services in connection with administering the day to day operations of the partnership.  The fee is equal to the excess of 0.375 percent of the aggregate
cost of the Project, as defined in the partnership agreement, over the reporting fee discussed above.  The fee is payable out of cash flow, as defined in the partnership agreement.  The amount charged to operations during 2000 and 1999 was $26,032,
resulting in a payable balance at December 31, 2000 and 1999, of $26,032.



Note 3 - Transactions and Affiliates and Related Parties, continued:



Contingent Fees Payable to the General Partner



The general partners are entitled to receive certain fees based on the results of the construction phase of the Project and in the event of a sale or refinancing of the Project.  Such fees are contingent upon certain results and
circumstances as defined in the partnership agreement.  No such fees were incurred by the Partnership during the period.



Housing Assistance Payment Contract Agreements



The Housing Authority of the City of Richland has contracted with the partnership, effective October 7, 1989 under Section 8 of Title II of the Housing and Community Development Act of 1974, to make housing assistance payments to the
partnership on behalf of qualified tenants.  The agreements are being entered into on a unit to unit basis and will expire fifteen years from their inception.  As of December 31, 2000 and 1999, all of the units have been contracted.  During 2000 and 1999,
rental assistance payments received under this contract were $1,089,584 and $1,077,973, respectively.

SUPPLEMENTAL INFORMATION



|                              | 2000   |  | 1999  
|----------------------------- | ------ |  | ------
|Administrative Expenses       |        |  |       
|                              |        |  |       
|Advertising                   | $	394  |  | $	384 
|Other administrative expenses | 2,036  |  | 1,794 
|Office expenses               | 3,132  |  | 2,879 
|Management fee                | 80,108 |  | 78,780
|Manager Salaries              | 34,624 |  | 20,408
|Legal                         | 840    |  | 5,826 
|Auditing                      | 6,355  |  | 6,080 
|Telephone                     | 3,020  |  | 2,764 
|Bad Debts                     | 2,122  |  | 2,725 
|Miscellaneous                 | 2,765  |  | 13,651
|                              |        |  |       
|Total Administrative Expenses |        |  |       
|                              |        |  |       
|Utilities:                    |        |  |       
|                              |        |  |       
|Electricity                   | 17,393 |  | 16,411
|Water                         | 33,621 |  | 35,567
|Gas                           | 374    |  | 277   
|Sewer                         | 10,343 |  | 10,348
|                              |        |  |       
|Total Utilities Expenses      |        |  |       





|                                         | 2000     |  | 1999    
|---------------------------------------- | -------- |  | --------
|Maintenance Expense                      |          |  |         
|                                         |          |  |         
|Grounds payroll                          | $	18,422 |  | $	15,238
|Grounds/pool supplies                    | 4,692    |  | 862     
|Grounds contract                         | 8,587    |  | 4,342   
|Repairs payroll                          | 52,388   |  | 47,695  
|Repairs material                         | 17,928   |  | 17,711  
|Repairs contract                         | 55,935   |  | 23,466  
|HVAC repairs and maintenance             | 427      |  | 476     
|Decorating contract                      | 2,224    |  | 1,382   
|Vehicle/maintenance equipment/leased     | 6,957    |  | 5,430   
|Janitor/cleaning payroll                 | 11,618   |  | 12,088  
|Janitor/cleaning supplies                | 2,415    |  | 2,671   
|Janitor/cleaning contract                | 7,142    |  | 5,517   
|Exterminating                            | 2,100    |  | 2,406   
|Garbage & trash                          | 315      |  | 460     
|Miscellaneous                            | 240      |  | 240     
|                                         |          |  |         
|Total Operating and Maintenance Expenses |          |  |         
|                                         |          |  |         
|Taxes                                    |          |  |         
|                                         |          |  |         
|Real estate taxes                        | 56,137   |  | 56,409  
|Payroll taxes                            | 8,753    |  | 22,028  
|Other taxes                              | 499      |  | 575     
|                                         |          |  |         
|Total Tax Expenses                       |          |  |         
|                                         |          |  |         
|Insurance                                |          |  |         
|                                         |          |  |         
|Property and liability insurance         | 26,237   |  | 17,292  
|Employee health                          | 11,609   |  | 4,727   
|                                         |          |  |         
|Total Insurance expense                  |          |  |         
|                                         |          |  |         
|Interest Expense:                        |          |  |         
|                                         |          |  |         
|Interest on mortgage payable             | 195,175  |  | 226,625 
|Interest on notes payable (Long-term)    | 112,883  |  | 112,883 
|Miscellaneous financial expenses         | 36,966   |  | 44,612  
|                                         |          |  |         
|Total Interest Expense                   |          |  |         





Reserve for Replacements:



In accordance with the provision of the regulatory agreement, restricted cash is held by Key Bank of Utah, account #9203456, to be used for replacement of property as follows:





|Balance - January 1, 2000         |  |  | $	86,955.44
|--------------------------------- |  |  | -----------
|Monthly Deposits ($2,565.00 x 12) |  |  | 30,780.00  
|Other deposits                    |  |  | -          
|Interest Earned                   |  |  | 1,730.14   
|                                  |  |  |            
|Less Withdrawals                  |  |  | 24,743.76  
|                                  |  |  |            
|Balance - December 31, 2000       |  |  |            
|confirmed by Key Bank of Utah     |  |  | $          



Schedule of Changes in Fixed Assets Accounts:



|                              | Balance     |  |           |  |            |  | Balance    
|----------------------------- | ----------- |  | --------- |  | ---------- |  | -----------
|Year Ended Dec 31, 2000       | 12/31/99    |  | Additions |  | Deductions |  | 12/31/00   
|                              |             |  |           |  |            |  |            
|Land                          | $	189,631   |  | $	-       |  | $	-        |  | $          
|                              |             |  |           |  |            |  |            
|Building                      | 7,433,904   |  | 801       |  | -          |  |            
|                              |             |  |           |  |            |  |            
|Building Equipment (Portable) | 66,176      |  | 5,428     |  | -          |  |            
|                              |             |  |           |  |            |  |            
|Office Furniture/Equipment    | 11,187      |  | -         |  | -          |  |            
|                              |             |  |           |  |            |  |            
|Furnishings                   | 337,670     |  | 17,929    |  | -          |  |            
|                              |             |  |           |  | 24,276     |  |            
|Vehicles                      | 13,800      |  | -         |  | -          |  |            
|                              |             |  |           |  | 406,405    |  |            
|Maintenance equipment         | 42,921      |  | 734       |  | -          |  |            
|                              |             |  |           |  |            |  |            
|                              | $           |  | $         |  | $    	-    |  | $          
|                              |             |  |           |  |            |  |            
|Accumulated Depreciation      | (2,499,535) |  | (269,257) |  | 189,631    |  | (2,768,792)
|                              |             |  |           |  | 7,434,705  |  |            
|Net Book Value                | $           |  |           |  | 71,604     |  | $          





We, hereby, certify that we have examined the accompanying financial statements and supplemental data of Columbia Park Apartments, and, to the best of our knowledge and belief, the same is complete and accurate.







_________________________

General Partner













_________________________

General Partner











Federal Identification Number 05-0447035.





We, hereby, certify that we have examined the accompanying financial statements and supplemental data of Columbia Park Apartments, and to the best of our knowledge and belief, the same is complete and accurate.







_________________________

Signature of Management

Agent's Representative







_________________________

Title







_________________________

Management Agent's Name







_________________________

Date







_________________________

Employer Identification No.













To the Partners

Apple Hill Limited Partnership

Winston-Salem, North Carolina



We have audited the accompanying balance sheets of Apple Hill Limited Partnership as of December 31, 2000 and 1999, and the related statements of income, partners' equity (deficit), and
cash flows for the years then ended. These financial statements are the responsibility of the Partnership's management. Our responsibility is to express all opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards,issued by the Comptroller General of the United
States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Apple Hill Limited Partnership as of December 31, 2000 and 1999, and the results of its operations and its
cash flows for the years then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards,we have also issued a report dated January 22, 2001 on our consideration of Apple Hill Limited Partnership's internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standardsand should be read in conjunction with this report in considering the results of our audit.

Greensboro, North Carolina January 22, 2001



INDEPENDENT AUDITOR'S REPORT

To the Partners

Redondo Associates, Ltd.

I have audited the accompanying balance sheets of Redondo Associates, Ltd. (a limited partnership), RD Case No. 04-013-953603409, as of December 31, 2000 and 1999, and the related statements of operations, changes in partners' equity
(deficit), and cash flows for the years then ended. These financial statements are the responsibility of the Partnership's management. My responsibility is to express an opinion on these financial statements based on my audits.

I conducted my audits in accordance with generally accepted auditing standards and Government Auditing Standardsissued by the Comptroller General of the United States. Those standards require that I plan and perform the audits
to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statements presentation. I believe that my audits provide a reasonable basis for my opinion.

In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Redondo Associates, Ltd. as of December 31, 2000 and 1999, and thc results of its operations and its cash
flows for the years then ended, in conformity with generally accepted .accounting principles.

In accordance with Government Auditing Standards,I have also issued a report dated January 22, 2001 on my consideration of Redondo Associates, Ltd.'s internal control over financial reporting and a report dated January 22, 2001
on tests of its compliance with certain provisions of laws, regulations, contracts, and grants. These reports are an integral part of an audit performed in accordance with Government Auditing Standardsand should be read in conjunction with this report in considering the results of my audits.







To the Partners of

Mecca Apartments

Independent Auditor's Report

We have audited the accompanying balance sheets of Mecca Apartments, a limited partnership, as of December 31, 2000, and 1999, and the related statements of income and changes in partners' capital and cash flows for the years then
ended. These financial statements are the responsibility of the project's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audits to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Mecca Apartments, a limited partnership, as of December 31, 2000, and 1999, and the results of its operations and for
changes in partners' capital and cash flows for the years then ended in conformity with generally accepted accounting principles.

Our audit was conducted for the purposes of forming an opinion on the basic financial statements taken as a whole. The supporting information included in the report are presented for the purposes of additional analysis and are not a required part of
the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements
taken as a whole.





To the Partners of

Fylex Housing Associates

(a Limited Partnership)

Independent Auditors' Report

We have audited the accompanying balance sheets of Fylex Housing Associates (a Limited Partnership) (Case No. 34-003-0020417485) as of December 31, 2000 and 1999 and the related statements of income and expense, partners' equity (deficit), and cash
flows for the years then ended. These financial statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and Government Auditing Standards,issued by the Comptroller General of the United States. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Fylex Housing Associates at December 31, 2000 and 1999 and the results of its operations, partners' equity (deficit) and its
cash flows for the years then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards,we have also issued our report dated January 23, 2001 on our consideration of Fylex Housing Associates' internal control over financial reporting and our tests of its compliance with laws and
regulations. That report is an integral part of an audit performed in accordance with Government Auditing Standardsand should be read in conjunction with this report in considering the results of our audit.



January 23, 2001



INDEPENDENT AUDITORS REPORT





To the Partners

Lake North Apartments II, Ltd.

We have audited the accompanying balance sheets of Lake North Apartments II, Ltd. (a Florida limited partnership), FmHA Project No. 09-035-0592821600, as of December 31, 2000 and 1999, and the related statements of operations, partners' equity and
cash flows for the years then ended. These financial statements are the responsibility of the partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and Government Auditing Standardsissued by the Comptroller General of the United States. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement. The audits include examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. The audits also include assessing
the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Lake North Apartments II, Ltd. as of December 31, 2000 and 1999, and the results of its operations and its cash flows for
the years then ended in conformity with generally accepted accounting principles.

Leesburg, Florida January 29, 2001







Independent Auditor's Report

To The Partners

Mound Plaza, LTD.

Moundville. Alabama

We have audited the accompanying balance sheets of Mound Plaza, LTD., Moundville., Alabama, as of December 31, 2000 and 1999, and the related statements of income, partnership capital (deficit), and cash flows for the years then ended.
These financial statements are the responsibility of the company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally accepted auditing standards, the USDA/Rural Development Audit Program, andGovernment Auditing Standardsissued by the Comptroller General of the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. Art audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis
for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Mound Plaza, LTD. as of December 31, 2000 and 1999, and the results of its operations and its cash flows for
the years then ended in conformity with generally accepted accounting principles.

Our reports were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental information on pages 14 and 15 is presented for purposes of additional analysis and is not a required part
of the basic financial statements. Such information has been subjected to the audit procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial
statements taken as a whole.





Independent Auditors' Report

To the Partners of

Pedcor Investments - 1988 - IV, L.P.

(An Indiana Limited Partnership)

We have audited the accompanying balance sheet of Pedcor Investments - 1988 - IV, L.P. (an Indiana Limited Partnership) as of December 31, 2000, and the related statements of profit and loss and changes in partners' equity (deficit)
and cash flows for the year then ended. These financial statements are the responsibility of management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

In our opinion, the financial statements referred to above present fairly in all material respects the financial position of Pedcor Investments - 1988 - IV, L.P. as of December 31, 2000, and the results of its operations and changes in
partners' equity (deficit) and cash flows for the year then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards,we have also issued a report dated January 24, 2001, on our consideration of the Partnership's internal controls and a report dated January 24, 2001, on its compliance with laws
and regulations.

The accompanying supplementary information is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the
audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.







Independent Auditor's Report



To The Partners

Queens Court Limited Partnership

Philadelphia, Pennsylvania

We have audited the accompanying balance sheets of Queens Court Limited Partnership as of December 31, 2000 and 1999 and the related statements of operations, partners' equity and cash flows for the years then ended. These financial statements are the
responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Queens Court Limited Partnership, as of December 31,2000 and 1999 and the results of its operations and its cash flows for
the years then ended in conformity with generally accepted accounting principles.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information on page 14 is presented for purposes of additional analysis and is not a required part of the basic financial
statements. Such information has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.





INDEPENDENT AUDITOR'S REPORT

To the Partners of

Rainbow Housing Associates, Ltd.

Yuma, Arizona

We have audited the accompanying Balance Sheet of Rainbow Housing Associates, Ltd., FI IA Project Number 123-94008 REF, as of December 31, 2000, and the related statements of profit and loss, changes in project equity and cash flows
for the year then ended. These financial statements are the responsibility of the Project's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally accepted auditing standards and Government  Auditing Standardsissued by the Comptroller General of the United States. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures ill the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Rainbow Housing Associates, Ltd., as of December 31, 2000, and the results of its operations and its cash
flows for the year then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards,we have also issued a report dated February 20, 2001, on our consideration of Rainbow Housing Associates, Ltd.'s internal control structure and a report dated February 20, 2001,
on its compliance with laws and regulations.

Our audit was made for the purpose of forming an opinion on the financial statements taken as a whole. The supporting data included in thc report on pages 13 through 21 is presented for the purposes of additional analysis and are not a
required part of thc financial statements of Rainbow Housing Associates, Ltd. Such information has been subjected to the same auditing procedures applied in the examination of the basic financial statements and, in our opinion, are presented fairly in all
material respects in relation to the financial statements taken as a whole.









INDEPENDENT AUDITORS ' REPORT

To the Partners

Sun Village Apartments, Ltd.

We have audited the accompanying balance sheets of Sun Village Apartments, Ltd. (a Florida limited partnership),FmHA Project No. 09035592798320, as of December 31, 2000 and 1999, and the related statements of operations, partners' equity and cash
flows for the years then ended. These financial statements are the responsibility of the partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and Government Auditing Standardsissued by the Comptroller General of the United States. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement. The audits include examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. The audits also include assessing
the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Sun Village Apartments, Ltd. as of December 31, 2000 and 1999, and the results of its operations, the changes in partners'
equity and cash flows for the years then ended in conformity with generally accepted accounting principles.





To the Partners of

Willow Street Associates

(a Limited Partnership)

Independent Auditors' Report

We have audited the accompanying balance sheets of Willow Street Associates (Case No. 34-012-0020413965) as of December 31, 2000 and 1999 and the related statements of income and expense, partners' equity (deficit), and cash flows for the years then
ended. These financial statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and Government Auditing Standards,issued by the Comptroller General of the United States. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation, we believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Willow Street Associates at December 31, 2000 and 1999 and the results of its operations, partners' equity (deficit) and its
cash flows for the years then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards,we have also issued our report dated January 11, 2001 on our consideration of Willow Street Associates' internal control over financial reporting and our tests of its compliance with laws and
regulations. That report is an integral part of an audit performed in accordance with Government Auditing Standardsand should be read in conjunction with this report in considering the results of our audit.







REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To the Partners of

Auburn Trace, Ltd.

We have audited the accompanying balance sheets of Auburn Trace, Ltd. (a Florida limited partnership) (the "Partnership") as of December 31, 2000 and 1999 and the related statements of operations, partners' equity (deficiency) and cash flows for the
years then ended. These financial statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Auburn Trace, Ltd. as of December 31, 2000 and 1999 and the results of its operations and its cash flows for
the years then ended in conformity with accounting principles generally accepted in the United States of America.







INDEPENDENT AUDITOR'S REPORT

To Partners of

Cambria Commons Limited Partnership



We have audited the accompanying balance sheet of Cambria Commons Limited Partnership as of December 31, 2000, and the related statements of operations, partners' deficit, and cash flows for the year then ended. These financial
statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audit. The financial statements and supplementary information of Cambria Commons Limited Partnership
for the year ended December 31, 1999, were audited by Freed Maxick Sachs & Murphy, P.C., independent accountants, whose directors merged with McGladrey & Pullen, LLP on November 1, 2000. Freed Maxick Sachs & Murphy, P.C.'s report dated January
27, 2000, expressed an unqualified opinion on those statements.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Cambria Commons Limited Partnership at December 31, 2000, and the results of its operations and its cash
flows for the year then ended, in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards,we have also issued reports dated January 24, 2001 on our consideration of Cambria Commons Limited Partnership's internal control over financial reporting and our tests of its
compliance with certain provisions of laws, regulations, contracts and grants. These reports are an integral part of an audit performed in accordance with Government Auditing Standardsand should be read in conjunction with this report in considering the results of our audit.

Our audit was made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplementary information on page 10 is presented for purposes of additional analysis and is not a required part of the
basic financial statements. The supplementary information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic
financial statements taken as a whole.

Buffalo, New York

January 24, 2001



Independent Auditor's Report

To the Partners

Landmark Limited Partnership

We have audited the accompanying balance sheet of Landmark Limited Partnership, VHDA Number 88-0144-HF, as of December 31, 2000, and the related statements of operations, and cash flows and changes in owners' equity for the year then
ended. These financial statements are the responsibility of Landmark Limited Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audits in accordance with generally accepted auditing standards and the Virginia Housing Development Authority's Mortgagor/Grantee's Audit Guide. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall financial statements' presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Landmark Limited Partnership as of December 31, 2000, and the results of its operations and its cash flows
and its changes in owners equity for the year then ended in conformity with generally accepted accounting principles.

Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as whole. The supplementary information and Schedule of Findings and Questioned Costs included in the report is presented for
purposes of additional analysis and is not a required part of the basic financial statements of Landmark Limited Partnership. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our
opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.





Independent Auditors' Report

To the Partners of

Pedcor Investments - 1988 - VI, L.P.

(An Indiana Limited Partnership)

We have audited the accompanying balance sheet of Pedcor Investments - 1988 - VI, L.P. (an Indiana Limited Partnership) as of December 31, 2000, and the related statements of profit and loss and changes in partners' equity (deficit)
and cash flows for the year then ended. These financial statements are the responsibility of management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

In our opinion, the financial statements referred to above present fairly in all material respects the financial position of Pedcor Investments - 1988 - VI, L.P. as of December 31, 2000, and the results of its operations and changes in
partners' equity (deficit) and cash flows for the year then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards,we have also issued a report dated January 24, 2001, on our consideration of the Partnership's internal controls and a report dated January 24, 2001, on its compliance with laws
and regulations.

The accompanying supplementary information is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the
audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.





INDEPENDENT AUDITORS' REPORT







To the Partners

Shockoe Hill Associates II, L.P.

Richmond, Virginia





We have audited the accompanying balance sheet of Shockoe Hill Associates II, L.P. as of December 31, 2000, and the related statements of income, changes in partners' capital, and cash flows for the year then ended. These financial statements are the
responsibility of Shockoe Hill Associates II, L.P.'s management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Shockoe Hill Associates II, L.P. as of December 31, 2000, and the results of its operations, changes in
partners' capital, and cash flows for the year then ended in conformity with generally accepted accounting principles.



Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying supplementary information shown on pages 14-22 and the accompanying Financial Data Templates are
presented for purposes of additional analysis and are not a required part of the basic financial statements of Shockoe Hill Associates II, L.P. Such information has been subjected to the auditing procedures applied in the audit of the basic financial
statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.



In accordance with Governmcnt Auditing Standards,we have also issued a report dated May 11, 2001 on our consideration of Shockoe Hill Associates II, L.P.'s internal controls and reports dated May 11, 2001 on its compliance with
specific requirements applicable to major HUD programs, specific requirements applicable to Affirmative Fair Housing, and specific requirements applicable to nonmajor HUD program transactions. Those reports are an integral part of an audit

performed in accordancewith Government Auditing Standardsand should be read in conjunction with this report in considering the results of our audit.









REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To the Partners of

Auburn Trace, Ltd.

We have audited the accompanying balance sheets of Auburn Trace, Ltd. (a Florida limited partnership) (the "Partnership") as of December 31, 2000 and 1999 and the related statements of operations, partners' equity (deficiency) and cash flows for the
years then ended. These financial statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Auburn Trace, Ltd. as of December 31, 2000 and 1999 and the results of its operations and its cash flows for
the years then ended in conformity with accounting principles generally accepted in the United States of America.









INDEPENDENT AUDITOR'S REPORT

To The Partners of

Holland West Limited Partnership

We have audited the accompanying balance sheet of HUD Project No. 047-44050/12001 of Holland West Limited Partnership (a Michigan Partnership) as of December 31, 2000, and the related statements of income, and cash flows, and changes
in partner's equity. These financial statements are the responsibility of the project's management. Our responsibility is to express an opinion on these financial statements based on our audit,

We conducted our audit in accordance with generally accepted auditing standards and Government Auditinq Standards,issued by the Comptroller General of the United States. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An Audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Holland West Limited Partnership as of December 31, 2000, and the results of its operations and its cash
flow and its changes in partners' equity for the year then ended in conformity with generally accepted accounting principles,

Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supporting information included in the report (shown on pages 11 to 16) are presented for the purposes of additional
analysis and are not a required part of the basic financial statements of Holland West Limited Partnership, Such information has been subject to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly
stated in all material respects in relation to the financial statements taken as a whole.

In accordance with Government Auditinq Standards,we have also issued a report dated January 25, 2001, on our consideration of Holland West Limited Partnership's internal controls and a report dated January 25, 2001, on its compliance with laws
and regulations.



INDEPENDENT AUDITORS' REPORT

To the Partners

Sherburne Housing Redevelopment Company

We have audited the accompanying balance sheets of Sherburne Housing Redevelopment Company as of December 31, 2000 and 1999, and the related statements of operations, partners' equity, and cash flows for the years then ended. These
financial statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on the financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and Government Auditinq Standardsissued by the Comptroller General of the United States. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by Management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Sherburne Housing Redevelopment Company as of December 31, 2000 and 1999, and the results of its operations
and its cash flows for the years then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditinq Standards,we have also issued reports dated January 30, 2001, on our consideration of Sherburne Housing Redevelopment Company's internal control structure and its compliance with laws and
regulations.



January 30, 2001

Albany, New York

To the Partners

Apple Hill Limited Partnership

Winston-Salem, North Carolina

We have audited the accompanying balance sheets of Apple Hill Limited Partnership as of December 31, 1999 and 1998, and the related statements of income, partners equity (deficit), and cash flows for the years then ended. These financial statements
are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis
for our opinion.

In accordance with Government Auditing Standards, we have also issued a report dated January 21, 2000 on our consideration of Apple Hill Limited Partnership1s internal control over financial reporting and on our tests of its compliance with certain
provisions of laws, regulations, contracts and grants.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Apple Hill Limited Partnership as of December 31, 1999 and 1998, and the results of its operations and its cash flows for
the years then ended in conformity with generally accepted accounting principles.









To the Partners of

Mecca Apartments Limited Partnership

Independent Auditor's Report

We have audited the accompanying balance sheets of Mecca Apartments Limited Partnership, as of December 31, 1999, and 1998, and the related statements of income, changes in capital and cash flows for the years then ended.  These financial statements
are the responsibility of the project's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards, and with Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Mecca Apartments Limited Partnership, at December 31 I 999, and 1998, and the results of its operations and changes in
partners' capital and cash flows for the years then ended in conformity with generally accepted accounting principles.

Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supporting information included in the report are presented for the purposes of additional analysis and are not a required part of
the basic financial statements.  Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements
taken as a whole.















To the Partners

Redondo Associates, Ltd.



I have audited the accompanying balance sheets of Redondo Associates, Ltd. (a limited partnership), RD Case No.04-013-953603409, as of December 31.1999 and 1998, and the related statements of operations, changes in partners' equity (deficit), and cash
flows for the years then ended. These financial statements are the responsibility of the Partnership's management. My responsibility is to express an opinion on these financial statements based on my audits.

I conducted my audits in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that I plan and perform the audits to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statements presentation. I believe that my audits provide a reasonable basis for my opinion.

In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Redondo Associates, Ltd. as of December 31, 1999 and 1998, and the results of its operations and its cash flows for the years
then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards and the U. S. Department of Agriculture, Farmers Home Administration "Audit Program", I have also issued a report dated January 24, 2000 on my consideration of Redondo Associates, Ltd.'s internal
control and a report dated January 24, 2000 on its compliance with laws and regulations applicable to the financial statements.















To the Partners of

Fylex Housing Associates

(a Limited Partnership)



Independent Auditors' Report



We have audited the accompanying balance sheets of Fylex Housing Associates (a Limited Partnership) (Case No. 34-003-0020417485) as of December 31, 1999 and 1998 and the related statements of income and expense, partners' equity (deficit), and cash
flows for the years then ended.  These financial statements are the responsibility of the Partnership's management.  Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States.  Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  An audit also includes assessing
the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Fylex Housing Associates at December 31, 1999 and 1998 and the results of its operations, partners' equity (deficit) and its
cash flows for the years then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards, we have also issued our report dated January 19, 2000 on our consideration of Fylex Housing Associates' internal control over financial reporting and our tests of its compliance with laws and regulations
 .











To the Partners

Lake North Apartments II, Ltd.



We have audited the accompanying balance sheets of Lake North Apartments II, Ltd. (a Florida limited partnership), FmHA Project No. 09-035-0592821600, as of December 31, 1999 and 1998, and the related statements of operations, partners' equity and
cash flows for the years then ended.  These financial statements are the responsibility of the partnership's management.  Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States.  Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement.  The audits include examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  The audits also include assessing
the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Lake North Apartments II, Ltd. as of December 31, 1999 and 1998, and the results of its operations and its cash flows for
the years then ended in conformity with generally accepted accounting principles.









To The Partners

Mound Plaza, LTD.

Moundville, Alabama

We have audited the accompanying balance sheet of Mound Plaza, LTD., Moundville, Alabama, as of December 31, 1999, and the related statements of income, partnership capital (deficit), and cash flows for the year then ended. These financial statements
are the responsibility of the company's management. Our responsibility is to express an opinion on these financial statements based on our audit. The financial statements of Mound Plaza, LTD. as of December 31, 1998, were audited by other auditors whose
report, dated January 27, 1999, on those statements was qualified because of lack of evidence regarding year 2000 disclosures.

We conducted our audit in accordance with generally accepted auditing standards, the USDA/Rural Development Audit Program, and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Mound Plaza, LTD. as of December 31, 1999, and the results of its operations and its cash flows for the year then ended in
conformity with generally accepted accounting principles.

Our reports were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental information on pages 14 and 15 is presented for purposes of additional analysis and is not a required part of the basic
financial statements. Such information has been subjected to the audit procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as
a whole.











To the Partners of

Pedcor Investments - 1988 - IV, L.P.

(An Indiana Limited Partnership)



We have audited the accompanying balance sheet of Pedcor Investments - 1988 - IV, L.P.  (an Indiana Limited Partnership) as of December 31, 1999, and the related statements of profit and loss and changes in partners' equity (deficit) and cash flows
for  the year then ended. These financial statements are the responsibility of management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

In our opinion, the financial statements referred to above present fairly in all material respects the financial position of Pedcor Investments - 1988 - IV, L.P. as of December 31, 1999, and the results of its operations and changes in partners'
equity (deficit) and cash flows for the year then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards, we have also issued a report dated January 21, 2000, on our consideration of the Partnership's internal controls and a report dated January 21, 2000, on its compliance with laws and regulations.

The accompanying supplementary information is presented for purposes of additional analysis and is not a required part of the basic financial statements.   Such information has been subjected to the auditing procedures applied in the audit of the
basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.













To the Partners of

Rainbow Housing Associates, Ltd.

Yuma, Arizona





We have audited the accompanying Balance Sheet of Rainbow Housing Associates, Ltd., FHA Project Number 123-94008 RFF, as of December 31, 1999, and the related statements of profit and loss, changes in project equity and cash flows for the year then
ended. These financial statements are the responsibility of the Project's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates

made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Rainbow Housing Associates, Ltd., as of December 31, 1999, and the results of its operations and its cash flows for the year
then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards, we have also issued a report dated March 8, 2000 on our consideration of Rainbow Housing Associates, Ltd.'s internal control structure and a report dated March 8, 2000, on its compliance with laws and
regulations.

Our audit was made for the purpose of forming an opinion on the financial statements taken as a whole. The supporting data included in the report on pages 13 through 21 is presented for the purposes of additional analysis and are not a required part
of the financial statements of Rainbow Housing Associates, Ltd. Such information has been subjected to the same auditing procedures applied in the examination of the basic financial statements and, in our opinion, are presented fairly in all material
respects in relation to the financial statements taken as a whole.

















To the Partners

Sun Village Apartments, Ltd.





We have audited the accompanying balance sheets of Sun Village Apartments, Ltd. (a Florida limited partnership),FMHA Project No. 09035592798320, as of December 31, 1999 and 1998, and the related statements of operations, partners' equity and cash
flows for the years then ended.  These financial statements are the responsibility of the partnership1s management.  Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States.  Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement.  The audits include examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  The audits also include assessing
the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Sun Village Apartments, Ltd. as of December 31, 1999 and 1998, and the results of its operations, the changes in partners'
equity and cash flows for the years then ended in conformity with generally accepted accounting principles.













To the Partners of

Willow Street Associates

(a Limited Partnership)



Independent Auditors' Report



We have audited the accompanying balance sheets of Willow Street Associates (case No. 34-012-0020413965) as of December 31, 1999 and 1998 and the related statements of income and expense, partners' equity (deficit), and cash flows for the years then
ended.  These financial statements are the responsibility of the Partnership's management.  Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States.  Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  An audit also includes assessing
the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Willow Street Associates at December 31, 1999 and 1998 and the results of its operations, partners' equity (deficit) and its
cash flows for the years then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards, we have also issued our report dated January 14, 2000 on our consideration of Willow Street Associates' internal control over financial reporting and our tests of its compliance with laws and regulations
 .



















To the Partners of

Armory Square Limited Partnership

Holyoke, Massachusetts



We have audited the accompanying balance sheets of Armory Square Limited Partnership as of December 31, 1999 and 1998, and the related statements of operations, partners' capital, and cash flows for the years then ended. These financial statements are
the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Armory Square Limited Partnership as of December 31, 1999 and 1998, and the results of its operations, changes in partners'
capital, and its cash flows for the years then ended in conformity with generally accepted accounting principles.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information included in this report (shown on pages 16 and 17) is presented for the purpose of additional analysis and is not
a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the
basic financial statements taken as a whole.

















To Partners of

Cambria Commons Limited Partnership



We have audited the accompanying balance sheets of Cambria Commons Limited Partnership as of December 31, 1999 and 1998, and the related statements of operations, partners' deficit, and cash flows for the years then ended.  These financial statements
are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Cambria Commons Limited Partnership at December 31,1999 and 1998, and the results of its operations and its cash flows for
the years then ended, in conformity with generally accepted accounting principles.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplementary information on page 10 is presented for purposes of additional analysis and is not a required part of the basic financial
statements. The supplementary information has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements
taken as a whole.

















To the Partners of

Pedcor Investments 1988-VI, L.P.



We have audited the accompanying balance sheets of Pedcor Investments 1988-VI, L.P. as of December 31, 1999 and 1998, and the related statements of loss, partners' equity (deficit), and cash flows for the years then ended.    These financial
statements are the responsibility of the partnership's management.  Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Pedcor Investments 1988-VI, L.P. as of December 31, 1999 and 1998, and the results of its operations and its cash flows for
the years then ended in conformity with generally accepted accounting principles.

The accompanying information is presented for additional analysis and is not a required part of the basic financial statements.   Such information has been subjected to the same auditing procedures applied in the audits of the basic financial
statements and, in our opinion, is presented fairly in all material respects in relation to the basic financial statements taken as a whole.















To the Partners of

Rosenberg Building Associates Limited Partnership

Boston, Massachusetts



We have audited the accompanying balance sheets of Rosenberg Building Associates Limited Partnership as of December 31, 1999 and 1998, and the related statements of operations, partners' capital, and cash flows for the years then ended. These
financial statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Rosenberg Building Associates Limited Partnership as of December 31, 1999 and 1998, and the results of its

operations, changes in partners' capital, and its cash flows for the years then ended in conformity with generally accepted accounting principles.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information included in this report (shown on pages 17 and 18) is presented for purposes of additional analysis and is not a
required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic
financial statements taken as a whole.













To the Partners

Shockoe Hill Associates II, L.P.

Richmond, Virginia



We have audited the accompanying balance sheet of Shockoe Hill Associates II,  L.P. as  of  December  31,  1999,  and  the  related statements of income, changes in partners' capital, and cash flows for  the  year  then  ended.    These financial
statements are the responsibility of Shockoe Hill Associates II,  L.P.'s management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Shockoe Hill Associates II, L.P. as of December 31, 1999, and the results of its operations, changes in partners' capital,
and cash flows for the year then ended in conformity with generally accepted accounting principles.

Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole.  The accompanying supplementary information is presented for purposes of additional analysis and is not a requited part of the basic
financial statements of Shockoe Hill Associates II,  L.P.   Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to
the financial statements taken as a whole.

In accordance with Government Auditing Standards, we have also issued a report dated March 23, 2000 on our consideration of Shockoe Hill Associates II, L.P.'s internal controls and reports dated March 23, 2Q00 on its compliance with specific
requirements applicable to major HUD programs, specific requirements applicable











To The Partners of

Holland West Limited Partnership

We have audited the accompanying balance sheet of HOD Project No. 047-44050/12001 of Holland West Limited Partnership (a Michigan Partnership) as of December 31. 1999, and the related statements of income, and cash flows, and changes in partner's
equity. These financial statements are the responsibility of the project's management.    Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An Audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements.    An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.   We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Holland West Limited Partnership as of December 31. 1999, and the results of its operations and its cash flow and its
changes in partners' equity for the year then ended in conformity with generally accepted accounting principles.

Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole.  The supporting information included in the report (Shown on pages 11 to 16) are presented for the purposes of additional analysis and
are not a required part of the basic financial statements of Holland West Limited Partnership. Such information has been subject to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all
material respects in relation to the financial statements taken as a whole.

In accordance with Government Auditing Standards, we have also issued a report dated January 27. 2000, on our consideration of Holland West Limited Partnership's internal controls and a report dated January 27, 2000, on it's compliance with laws and
regulations.

















To the Partners

Sherburne Housing Redevelopment Company

We have audited the accompanying balance sheets of Sherburne Housing Redevelopment Company as of December 31, 1999 and 1998, and the related statements of operations, partners' equity, and cash flows for the years then ended. These financial
statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on the financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by Management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Sherburne Housing Redevelopment Company as of December 31,1999 and 1998, and the results of its operations and its cash
flows for the years then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards, we have also issued reports dated February 1, 2000, on our consideration of Sherburne Housing Redevelopment Company's internal control structure and its compliance with laws and regulations.

EideBailly LLP

Consultants - Certified Public Accountants

INDEPENDENT AUDITOR'S REPORT

The Partners

Maplewood Apartments, A Limited Partnership

Fargo, North Dakota

We have audited the accompanying balance sheets of Maplewood Apartments, A Limited Partnership, RHS Project Number: 27-009-450408000, as of December 31, 1998 and 1997, and the related statements of operations, partners' equity, and cash flows for the
years then ended. These financial statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Maplewood Apartments, A Limited Partnership as of December 31, 1998 and 1997, and the results of its operations and its cash
flows for the years then ended in conformity With generally accepted accounting principles.





Fargo, North Dakota February 10, 1999

406 Main Avenue - Suite 3000 - PO Box 2545 - Fargo, North Dakota 58108-2545 - 701.239.8500 - Fax 701.239.8600

Offices in Arizona, Iowa, Minnesota, Montana, North Dakota and South Dakota - Equal Opportunity Employer

MORRISON & SMITH, LLP

CERTIFIED PUBLIC ACCOUNTANTS

1809 UNIVERSITY BOULEVARD

P.O. BOX 2064 7

TUSCALOOSA, ALABAMA 35402-0647

CERTIFIED PUBLIC ACCOUNTANTS

CLAUD A. MORRISON. C.P.A.

G. ALAN HARTLEY, C.P.A.

BARRETT A. BURNS, C.P.A.

DIVISION FOR CPA FIRMS

DAVID M.TUNSTALL. C.P.A.

PRACTICE SECTION

TIMOTHY D. CROWE. C.P.A.

R. DANIEL SUTTER. CPA.

PAMELA G. SANDERS, C.P.A.



CERTIFIED PUBLIC ACCOUNTANTS

INDEPENDENT AUDITOR'S REPORT

To The Partners

Mound Plaza, LTD.

Moundville, Alabama

We have audited the accompanying balance sheets of Mound Plaza, LTD. an Alabama limited partnership), FmHA-Project No. 01-33-630973608 as of December 31, 1998 and 1997 and the related statements of income, partners' equity (deficit) and cash flows for
the years then ended. These Financial statements are the responsibility of the partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

Except as discussed in the following paragraph, we conducted our audits in accordance with generally accepted auditing standards, the USDA/FmHA Audit Program and Government AuditingStandards issued by the Comptroller General of the United
States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

Governmental Accounting Standards Board Technical Bulletin 98-1, Disclosures about Year2000 Issues, requires disclosure of certain matters regarding the year issue. Mound Plaza, LTD. has included such disclosure in Note 9. Because of the
unprecedented nature of the year 2000 issue, its effects and the success of related remediation efforts will not be fully det6rminable until the year 2000 and thereafter. Accordingly, insufficient audit evidence exists to support Mound Plaza, LTD's,
disclosures with respect to the year 2000 issue made in Note 9. Further, we do not provide assurance that Mound Plaza, LTD., is or will be successful in whole or in Tart, or that parties with which Mound Plaza, LTD., does business will be year 200 ready.

In our opinion, except for the effects on the 1998 financial statements of such adjustments, if any, have been determined to be necessary had we been able to examine evidence regarding year 2000 disclosures, the financial statements referred to
above-present fairly, in all material respects, the financial position of Mound Plaza, LTD., as of December 31, 1998 and 1997, and the results of its operations and its cash flows for the years then ended in conformity with generally accepted accounting
principles.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental information on pages 14 through 15 is presented for purposes of additional analysis and is not a required part of the basic
financial statements. The supplementary information presented in the Year End Report/Analysis (Form FmHA 1930-8) Parts I through III for the years ended December 31, 1998 and 1997 is presented for purposes of complying with the requirements of the Farmers
Home Administration and is also not a required part of the basic financial statements. Such information has been subjected to the audit procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material
respects in relation to the basic financial statements taken as a whole.

MORRISON & SMITH, LLP Certified Public Accountants Tuscaloosa Alabama January 27: 1999

EideBailly,LLP

Consultants - Certified Public Accountants

INDEPENDENT AUDITOR'S REPORT

The Partners

Oak Crest Manor 11, A Limited Partnership

Fargo, North Dakota

We have audited the accompanying balance sheets of Oak Crest Manor H, A Limited Partnership RHS Project Number: 27-018-450407999, as of December 31, 1998 and 1997, and the related statements of operations, partners' equity, and cash flows for the
years then ended. These financial statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

,We conducted our audits in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Oak Crest Manor 11, A Limited Partnership as of December 31, 1998 and 1997 and the results of its operations and its cash
flows for the years then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards, we have also issued a report dated February 12, 1998 on our consideration of Oak Crest Manor 11, A Limited Partnership's internal control and a report dated February 12, 1999 on its compliance with
laws and regulations.

Fargo, North Dakota

February 12, 1999

406 Main Avenue - Suite 3000 0 PO Box 2545 o Fargo, North Dakota 58108-2545 - 701.239-8500Fax 701,239.8600

Offices in Arizona, Iowa, Minnesota, Montana, North Dakota and South Dakota - Equal Opportunity Employer

MAHONEY

CHRISTIANSEN

RUSS P A.

The Partners

Paige Hall Limited Partnership

Minneapolis, Minnesota

INDEPENDENT AUDITORS'REPORT

We have audited the accompanying balance sheets of Paige Hall Limited Partnership as of December 31, 1998 and 1997, and the related statements of operations, partners' capital and cash flows for the years then ended. These financial statements are the
responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Paige Hall Limited Partnership as of December 31, 1998 and 1997, and the results of its operations and its cash flows for
the years then ended in conformity with generally accepted accounting principles.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental information on page 9 is presented for the purposes of additional analysis and is not a required part of the basic
financial statements. Such information has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken
as a whole.

Saint Paul, Minnesota

January 22, 1999

I

Dauby O'Connor & Zaleski

A Limited Liability Company

Certified Public Accountants

Independent Auditors' Report

To the Partners Pedcor Investments 1988-IV, L.P.

We have audited the accompanying balance sheets of Pedcor Investments 1988-IV, L.P. as of December 31, 1998 and 1997, and the related statements of loss, partners, equity (deficit), and cash flows for the years then ended. These financial statements
are the responsibility of the partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Pedcor Investments 1988-IV, L.P. as of December 31, 1998 and 1997, and the results of its operations and its cash flows for
the years then ended in conformity with generally accepted accounting principles.

The accompanying information is presented for additional analysis and is not a required part of the basic financial statements. Such information has been subjected to the same auditing procedures applied in the audits of the basic financial statements
and, in our opinion, is presented fairly in all material respects in relation to the basic financial statements taken as a whole.

January 22, 1999

Dauby O'Connor & Zaleski, LLC

Carmel, Indiana

Certified Public Accountants

698 Pro Med Lane

Carmel, Indiana 46032

317-848-5700

Fax: 317-815-6140

Michael Sczekan & CO., P.C.

7936 East Arapahoe Court, Suite 2800

Englewood, Colorado 80112

CERTIFIED PUBLIC ACCOUNTANTS

Telephone (303) 770-3356

Facsimile (303) 770-3357

INDEFENDENT AUDITOR'S REFORT

To the Partners of Government National Mortgage Association

Rainbow Housing Associates, Ltd.

Care of- Midland Loan Services, L.P.

Yuma, Arizona

Kansas City, MO

We have audited the accompanying Balance Sheet of Rainbow Housing Associates, Ltd., FHA Project Number 123-94008 REF, as of December 31, 1998, and the related statements of profit and loss, changes in project equity and cash flows for the year then
ended. These financial statements are the responsibility of the Project's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Rainbow Housing Associates, Ltd., as of December 31, 1998, and the results of its operations and its cash flows for the year
then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing Standards, we have also issued a report dated February 23, 1999, on our consideration of Rainbow Housing Associates, Ltd.'s internal control structure and a report dated February 23, 1999, on its compliance with
laws and regulations.

Our audit was made for the purpose of forming an opinion on the financial statements taken as a whole. The supporting data included in the report on pages 13 through 21 is presented for the purposes of additional analysis and are not a required part
of the financial statements of Rainbow Housing Associates, Ltd. Such information has been subjected to the same auditing procedures applied in the examination of the basic financial statements and, in our opinion resented fairly in all material respects
in relation to the financial statements taken as a whole.

Michael Sczekan & Co., P.C

Certified Public Accountants

Englewood, Colorado

February 23, 1999



Damratoski & Company

Corporate One West

Suite 350

1195 Washington Pike

Bridgeville, Pa. 15017

(412) 257.2882

(412) 257.2888 Fax

Independent Auditor's Report

To The Partners

Queens Court Limited Partnership

Philadelphia, Pennsylvania

We have audited the accompanying balance sheets of Queens Court Limited Partnership as of December 31, 1998 and 1997 and the related statements of operations, partners' equity and cash flows for the years then ended. These financial statements are the
responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Queens Court Limited Partnership, as of December 31, 1998 and 1997 and the results of its operations and its cash flows for
the years then ended in conformity with generally accepted accounting principles.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information on page 14 is presented for purposes of additional analysis and is not a required part of the basic financial
statements. Such information has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

Damratoski & Company

Certified Public Accountants

January 29, 1999

Page I



MAHONEY

ULBRICH

CHRISTIANSEN

Minnesota Society

Russ P. A.

The Partners

Fuller Homes Limited Partnership

Saint Paul, Minnesota

INDEPENDENT AUDITORS' REPORT

We have audited the accompanying balance sheet of Fuller Homes Limited Partnership as of December 31, 1998, and the related statements of operations, partners' capital and cash flows for the year then ended. These financial statements are the
responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audit. The financial statements and supplemental information of Fuller Homes Limited Partnership as of December 31,
1997, were audited by other auditors whose report dated January 21, 1998, expressed an unqualified opinion on those financial statements and supplemental information.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Fuller Homes Limited Partnership as of December 31, 1998, and the results of its operations and its cash flows for the year
then ended in conformity with generally accepted accounting principles.

Our audit was made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental information on pages 10 through 16 is presented for the purposes of additional analysis and is not a required part of the
basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements
taken as a whole.

Saint Paul, Minnesota

January 15, 1999







Randall Patterson, CPA, P.C.

12913 Alton Square, #101

Herndon, Virginia 20170

Phone: (703) 834-3804

Fax: 	(703) 834-1908



Independent Auditor's Report

To the Partners

Landmark Limited Partnership

We have audited the accompanying balance sheet of Landmark Limited Partnership, VHDA Number 88-0144-HF, as of December 31, 1998 and 1997, and the related statements of operations, and cash flows and changes in owners' equity for the years then ended.
These financial statements are the responsibility of Landmark Limited Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audits in accordance with generally accepted auditing standards and the Virginia Housing Development Authority's Mortgagor/Grantee's Audit Guide. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statements' presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Landmark Limited Partnership as of December 31, 1998 and 1997, and the results of its operations and its cash flows and its
changes in owners equity for the years then ended in conformity with generally accepted accounting principles.

Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as whole. The supplementary information and Schedule of Findings and Questioned Costs included in the report is presented for purposes of additional
analysis and is not a required part of the basic financial statements of Landmark Limited Partnership. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly
stated in all material respects in relation to the financial statements taken as a whole.



Randall Patterson, CPA, P.C.

March 4, 1999

MAHONEY ULBRICH CHRISTIANSEN RUSS P.A.



386 North Wabasha	Saint Paul, Minnesota 55102

American Institute of Certified Public Accountants

Telephone 651-227-669

Facsimile 651-227-9090

Minnesota Society

of Certified Public Accountants

The Partners

Montana Avenue Townhomes Limited Partnership

Saint Paul, Minnesota

INDEPENDENT AUDITORS' REPORT

We have audited the accompanying balance sheet of Montana Avenue Townhomes Limited Partnership as of December 31, 1998, and the related statements of operations, partners' capital and cash flows for the year then ended. These financial statements are
the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audit. The financial statement and supplemental information of Montana Avenue Townhomes Limited Partnership as of
December 31, 1997, were audited by other auditors whose report dated January 16, 1998, expressed an unqualified opinion on those financial statements and supplemental information.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Montana Avenue Townhomes Limited Partnership as of December 31, 1998, and the results of its operations and its cash flows
for the year then ended in conformity with generally accepted accounting principles.

Our audit was made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental information on pages 10 through 16 is presented for the purposes of additional analysis and is not a required part of the
basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to-the basic financial statements
taken as a whole.

Saint Paul, Minnesota

January 26, 1999



DOUGLAS A. HOLLOWELL, P.C.

CERTIFIED PUBLIC ACCOUNTANTS

A PROFESSIONAL CORPORATION

DOUGLAS A. HOLLOWELL, C.P.A.

DONNA L. HOLLOWELL, C.P.A.

INDEPENDENT AUDITORS' REPORT

To the Partners

Shockoe Hill Associates II, L.P.

Richmond, Virginia

We have audited the accompanying balance sheet of Shockoe Hill Associates II, L.P. as of December 31, 1998, and the related statements of income, changes in partners' capital, and cash flows for the year then ended. These financial statements are the
responsibility of Shockoe Hill Associates II, L.P.'s management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Shockoe Hill Associates II, L.P.. As of December 31, 1998, and the results of its operations, changes in partners' capital,
and cash flows for the year then ended in conformity with generally accepted accounting principles.

our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying supplementary information is presented for purposes of additional analysis and is not a required part of the basic
financial statements of Shockoe Hill Associates II, L.P. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to
the financial statements taken as a whole.

In accordance with Government Auditing Standards, we have also issued a report dated March 2, 1999 on our consideration of Shockoe Hill Associates II, L.P.'s internal controls and reports dated March 2, 1999 on its compliance with specific
requirements applicable to major HUD programs, specific requirements applicable to Affirmative Fair Housing, and specific requirements applicable to non major HUD program transactions.

MEMBERS OF:

THE AMERICAN INSTITUTE OF

CERTIFIED PUBLIC ACCOUNTANTS	Portsmouth, Virginia

THE VIRGINIA SOCIETY OF	March 2, 1999

CERTIFIED PUBLIC ACCOUNTANTS

THE NORTH CAROLINA

ASSOCIATION OF CERTIFIED

PUBLIC ACCOUNTANTS









LOUIS YOUNG C.P.A. INC.

2630 E. ASHLAN - FRESNO, CALIFORNIA 93726

LOUIS YOUNG C.P.A. INC.

LOUIS YOUNG, CPA	3142 WILLOW AVENUE #101 -CLOVIS, CA 93612

JASON LIAO, CPA	(559) 291-1668 - FAX (559) 291-1692

INDEPENDENT AUDITOR'S REPORT

The Partners Hacienda Villa Associates

Firebaugh, California

We have audited the accompanying balance sheet of Hacienda Villa Associates (A Limited Partnership) as of December 31, 1998, and the related statements of operations, partners' capital and cash flows f or the year then ended. These financial
statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Hacienda Villa Associates (a Limited Partnership) as of December 31, 1998, and the results of its operations and its cash
flows for the year then ended, in conformity with generally accepted accounting principles.

Our audit was made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental information on pages 14 and 15 is presented for purposes of additional analysis and is not a required part of the basic
financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken
as a whole.





Louis Young CPA Inc.

Fresno, California

February 23, 1999



Boardman & Winnick

CERTIFIED PUBLIC ACCOUNTANTS

Myron H. Bordman, C.P.A. 7439 Middlebelt Road, Suite 3

Robert F. Winnick, C.P.A. West Bloomfield, Michigan 48322

(248) 851-5350

Facsimile (248) 851-9148

Hedda Panzer, C.P.A.

Sharon Lin, C.P.A.



INDEPENDENT AUDITOR'S REPORT

To The Partners of Holland West Limited Partnership

We have audited the accompanying balance sheet of HUD Project No. 047-44050/12001 of Holland West Limited Partnership (a Michigan Partnership) as of December 31, 1998, and the related statements of income, and cash flows, and changes in partner's
equity. These financial statements are the responsibility of the project's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An Audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Holland West Limited Partnership as of December 31, 1998, and the results of its operations and its cash flow and its
changes in partners' equity for the year then ended in conformity with generally accepted accounting principles.

Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supporting information included in the report (shown on pages 11 to 16) are presented for the purposes of additional analysis and are
not a required part of the basic financial statements of Holland West Limited Partnership. Such information has been subject to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all
material respects in relation to the financial statements taken as a whole.

In accordance with Government Auditing Standards, we have also issued a report dated January 24, 1999, on our consideration of Holland West Limited Partnership's internal controls and a report dated January 24, 1999, on its compliance with laws and
regulations.

West Bloomfield, MI

BORDMAN & WINNICK

January 24, 1999

Certified Public Accountants

ROBERT ERCOLINI & COMPANY LLP

Certified Public Accountants * Business Consultants

INDEPENDENT AUDITOR'S REPORT

To the Partners of

Rosenberg Building Associates Limited Partnership

Boston, Massachusetts

We have audited the accompanying balance sheets of Rosenberg Building Associates Limited Partnership as of December 31, 1998 and 1997, and the related statements Of Operations, partners' capital, and cash flows for the years then ended. These
financial statements are the responsibility of the Partnership's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An
audit includes examining, m a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position Rosenberg Building Associates Limited Partnership as of December 31, 1998 and 1997, and the results of its operations, changes
in partners' capital, and its cash flows for the years then ended in conformity with generally accepted accounting principles.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information included in this report (shown on pages 18 and 19) is presented for purposes of additional analysis and is not a
required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic
financial statements taken as a whole.

March 10, 1999



Boston Capital Tax Credit Fund Limited Partnership - Series 1

Schedule III - Real Estate and Accumulated Depreciation

March 31, 2001



|                                 |  |               |                         |                                            |              |   |                                                  |                            |            |                          |                      |               |                                       
|-------------------------------- |  | ------------- | ----------------------- | ------------------------------------------ | ------------ | - | ------------------------------------------------ | -------------------------- | ---------- | ------------------------ | -------------------- | ------------- | --------------------------------------
|COL A.                           |  | COL B.        | COL C.                  |                                            | COL D.       |   |                                                  | COL E.                     |            | COL F.                   | COL G.               | COL H.        | COL I.                                
|                                 |  |               |                         |                                            |              |   |                                                  |                            |            |                          |                      |               |                                       
|                                 |  |               | Initial cost to company | Cost capitalized subsequent to acquisition |              |   | Gross amount at which carried at close of period |                            |            |                          |                      |              
|Description                      |  | Encum-brances | Land                    | Buildings and improvements                 | Improvements |   | Land                                             | Buildings and
improvements | Total      | Accumulated depreciation | Date of construction | Date
acquired | Life on which depreciation is computed
|APPLE HILL, L.P.                 |  | 1,474,251     | 56,000                  | 1,857,492                                  | 12,061       |   | 56,000                                           | 1,869,553                  | 1,925,553  | 869,293                  | 1/88                 | 2/89          | 7-27.5 yrs                            
|BOLIVAR MANOR L.P.               |  | 873,955       | 111,316                 | 999,415                                    | 105,434      |   | 111,316                                          | 1,104,849                  | 1,216,165  | 549,122                  | 11/88                | 1/89          | 27.5 yrs                              
|BRIARWOOD -
VERO BEACH           |  | 1,466,733     | 96,546                  | 1,866,664                                  | 4,059        |   | 96,546                                           | 1,870,723                  | 1,967,269  | 589,832                  | 8/89                 | 1/89          | 40 yrs                                
|COLDWATER LTD DIVIDEND HOUSING   |  | 930,650       | 35,750                  | 1,203,836                                  | 19,751       | * | 35,750                                           | 1,223,587                  | 1,259,337  | 583,941                  | 7/89                 | 12/88         | 5-27.5 yrs                            
|CONNEAUT, LTD.                   |  | 1,163,812     | 50,000                  | 1,439,961                                  | 114,448      |   | 50,000                                           | 1,554,409                  | 1,604,409  | 807,597                  | 4/88                 | 1/89          | 27.5 yrs                              
|COUNTRY VILLAGE ASSOCIATES       |  | 3,151,486     | 179,385                 | 3,843,452                                  | 19,424       |   | 192,794                                          | 3,862,876                  | 4,055,670  | 1,661,142                | 4/89                 | 1/89          | 5-27.5 yrs                            
|ELK RAPIDS II APTS COMPANY       |  | 733,972       | 37,000                  | 929,264                                    | 13,190       |   | 37,000                                           | 942,454                    | 979,454    | 467,503                  | 2/89                 | 12/88         | 5-27.5 yrs                            
|GENESEE COMMONS ASSOC LP         |  | 9,888,323     | 250,000                 | 11,622,137                                 | (6,447,538)  |   | 250,000                                          | 5,174,599                  | 5,424,599  | 4,325,076                | 12/88                | 11/88         | 5-27.5 yrs                            
|GENEVA, LTD.                     |  | 1,179,246     | 60,300                  | 1,450,936                                  | 133,099      |   | 60,300                                           | 1,584,035                  | 1,644,335  | 832,557                  | 8/88                 | 1/89          | 7-27.5 yrs                            
|GREEN ACRES OF YULEE             |  | 1,468,569     | 90,650                  | 1,908,145                                  | (353,722)    |   | 90,650                                           | 1,554,423                  | 1,645,073  | 695,538                  | 8/89                 | 1/89          | 5-27.5 yrs                            
|INGLEWOOD MEADOWS                |  | 1,475,270     | 123,200                 | 1,886,119                                  | 12,086       |   | 123,200                                          | 1,898,205                  | 2,021,405  | 863,518                  | 11/88                | 12/88         | 27.5 yrs                              
|KINGSTON PROPERTY ASSOC          |  | 5,184,279     | 50,000                  | 6,024,746                                  | (1,769,733)  |   | 50,000                                           | 4,255,013                  | 4,305,013  | 2,823,652                | 6/89                 | 12/88         | 27.5 yrs                              
|RIVERSIDE PLACE DIVIDEND HOUSING |  | 958,063       | 65,200                  | 1,202,452                                  | 30,074       |   | 65,200                                           | 1,232,526                  | 1,297,726  | 597,713                  | 7/89                 | 12/88         | 5-27.5 yrs                            
|TOWNHOMES MINNEHAHA COURT        |  | 1,118,966     | 64,827                  | 1,766,883                                  | 3,256        | * | 64,827                                           | 1,770,139                  | 1,834,966  | 802,457                  | 11/88                | 11/88         | 5-27.5 yrs                            
|UNITY PARK                       |  | 0             | 99,000                  | 11,179,460                                 | (11,179,460) |   | 0                                                | 0                          | 0          | 0                        | 12/90                | 4/89          | 5-27.5 yrs                            
|VIRGINIA CIRCLE LP               |  | 660,647       | 44,936                  | 1,096,944                                  | (32,145)     | * | 44,936                                           | 1,064,799                  | 1,109,735  | 481,985                  | 6/88                 | 11/88         | 5-27.5 yrs                            
|WEWAHITCHKA, LTD.                |  | 705,787       | 28,179                  | 950,637                                    | 1            |   | 28,179                                           | 950,638                    | 978,817    | 450,062                  | 6/88                 | 12/88         | 5-27.5 yrs                            
|WOOD CREEK MANOR LTD DIVIDEND    |  | 958,583       | 10,000                  | 1,274,577                                  | 24,711       |   | 10,000                                           | 1,299,288                  | 1,309,288  | 630,198                  | 7/89                 | 12/88         | 5-27.5 yrs                            
|WOODLAND TERRACE                 |  | 1,475,270     | 120,400                 | 1,885,256                                  | 12,261       |   | 120,400                                          | 1,897,517                  | 2,017,917  | 873,057                  | 11/88                | 12/88         | 5-27.5 yrs                            
|                                 |  |               |                         |                                            |              |   |                                                  |                            |            |                          |                      |               |                                       
|                                 |  | 34,867,862    | 1,572,689               | 54,388,376                                 | (19,278,743) |   | 1,487,098                                        | 35,109,633                 | 36,596,731 | 18,904,243               |                      |               |                                       



Since the Operating Partnerships maintain a calendar year end the information reported on this schedule is as of December 31, 2000. a   - Decrease due to impairment in year ended December 31, 1997.

b  -  Property deemed to have no value as of March 31, 1999.

**There were no carrying costs as of December 31, 2000.  The column has been omitted for presentation purposes.

F-67



|Notes to Schedule III                                               
|--------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 1       
|                                                                    
|Reconciliation of Land, Building & Improvements current year changes
|                                                                    
|Balance at beginning of period - 4/1/92                             
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other*                                                              
|                                                                    
|Balance at close of period - 3/31/93                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other*                                                              
|                                                                    
|Balance at close of period - 3/31/94                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other                                                               
|                                                                    
|Balance at close of period - 3/31/95                                



F-68



|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 1 (continued)
|                                                                         
|Balance at close of period - 3/31/95                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/96                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other  *                                                                 
|                                                                         
|Balance at close of period - 3/31/97                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/98                                     

F-69







|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 1 (continued)
|                                                                         
|Balance at close of period - 3/31/98                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other **                                                                 
|                                                                         
|Balance at close of period - 3/31/99                                     
|                                                                         
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other **                                                                 
|                                                                         
|Balance at close of period - 3/31/00                                     
|                                                                         
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other **                                                                 
|                                                                         
|Balance at close of period - 3/31/01                                     
|                                                                         



F-70



|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 1 (continued)
|                                                                         
|Reconciliation of Accumulated Depreciation current year changes          
|                                                                         
|Balance at beginning of period - 4/1/92                                  
|Current year expense                                                     
|Balance at close of period - 3/31/93                                     
|Current year expense                                                     
|Balance at close of period - 3/31/94                                     
|Current year expense                                                     
|Balance at close of period - 3/31/95                                     
|Current year expense                                                     
|Balance at close of period - 3/31/96                                     
|Current year expense                                                     
|Balance at close of period - 3/31/97                                     
|Current year expense                                                     
|Balance at close of period - 3/31/98                                     
|Current year expense                                                     
|Balance at close of period - 3/31/99                                     
|Current year expense                                                     
|Balance at close of period - 3/31/00                                     
|Current year expense                                                     
|Balance at close of period - 3/31/01                                     
|                                                                         





F-71

Boston Capital Tax Credit Fund Limited Partnership - Series 2

Schedule III - Real Estate and Accumulated Depreciation

March 31, 2001



|                        |  |               |                         |                                            |              |   |                                                  |                            |            |                          |                      |               |                                       
|----------------------- |  | ------------- | ----------------------- | ------------------------------------------ | ------------ | - | ------------------------------------------------ | -------------------------- | ---------- | ------------------------ | -------------------- | ------------- | --------------------------------------
|COL A.                  |  | COL B.        | COL C.                  |                                            | COL D.       |   |                                                  | COL E.                     |            | COL F.                   | COL G.               | COL H.        | COL I.                                
|                        |  |               |                         |                                            |              |   |                                                  |                            |            |                          |                      |               |                                       
|                        |  |               | Initial cost to company | Cost capitalized subsequent to acquisition |              |   | Gross amount at which carried at close of period |                            |            |                          |                      |              
|Description             |  | Encum-brances | Land                    | Buildings and improvements                 | Improvements |   | Land                                             | Buildings and
Improvements | Total      | Accumulated depreciation | Date of construction | Date
acquired | Life on which depreciation is computed
|ANNADALE APARTMENTS     |  | 8,480,788     | 794,249                 | 3,448,985                                  | 8,782,665    |   | 226,000                                          | 12,231,650                 | 12,457,650 | 2,385,748                | 6/90                 | 9/90          | 5-50 yrs                              
|CALEXICO VILLAGE APTS.  |  | 1,557,831     | 189,545                 | 2,140,711                                  | 4,211        |   | 189,545                                          | 2,144,922                  | 2,334,467  | 461,882                  | 4/90                 | 2/90          | 5-50 yrs                              
|GLENHAVEN PARK III      |  | 485,634       | 225,000                 | 599,444                                    | 578,387      |   | 225,000                                          | 1,177,831                  | 1,402,831  | 316,482                  | 12/89                | 11/89         | 40 yrs                                
|GLENHAVEN PARK IV       |  | 390,477       | 180,000                 | 254,783                                    | 620,372      |   | 180,000                                          | 875,155                    | 1,055,155  | 226,755                  | 6/90                 | 11/89         | 40 yrs                                
|HERBER II VILLAGE APTS. |  | 1,087,854     | 135,000                 | 1,374,347                                  | (4,711)      | * | 135,000                                          | 1,369,636                  | 1,504,636  | 375,498                  | 4/89                 | 5/89          | 5-50 yrs                              
|MECCA APARTMENTS        |  | 2,584,717     | 55,580                  | 2,377,218                                  | 1,106,178    |   | 56,283                                           | 3,483,396                  | 3,539,679  | 816,526                  | 7/90                 | 11/89         | 5-40 yrs                              
|REDWOOD CREEK APTS.     |  | 1,761,085     | 100,000                 | 2,479,092                                  | (1,325)      | * | 100,000                                          | 2,477,767                  | 2,577,767  | 744,770                  | 12/89                | 7/89          | 5-50 yrs                              
|REDONDO APTS. I         |  | 1,428,637     | 11,800                  | 1,145,806                                  | 749,274      |   | 11,800                                           | 1,895,080                  | 1,906,880  | 852,745                  | 7/90                 | 12/89         | 5-27.5 yrs                            
|                        |  |               |                         |                                            |              |   |                                                  |                            |            |                          |                      |               |                                       
|                        |  | 17,777,023    | 1,691,174               | 13,820,386                                 | 11,835,051   |   | 1,123,628                                        | 25,655,437                 | 26,779,065 | 6,180,406                |                      |               |                                       
|                        |  |               |                         |                                            |              |   |                                                  |                            |            |                          |                      |               |                                       

Since the Operating Partnerships maintain a calendar year end the information reported on this schedule is as of December 31, 2000 a   - Decrease due to impairment in year ended December 31, 1997.

b  -  Property deemed to have no value as of March 31, 1999.

**There were no carrying costs as of December 31, 2000.  The column has been omitted for presentation purposes.





























F-72



|Notes to Schedule III                                               
|--------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 2       
|                                                                    
|Reconciliation of Land, Building & Improvements current year changes
|                                                                    
|Balance at beginning of period - 4/1/92                             
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other*                                                              
|                                                                    
|Balance at close of period - 3/31/93                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other*                                                              
|                                                                    
|Balance at close of period - 3/31/94                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other                                                               
|                                                                    
|Balance at close of period - 3/31/95                                





F-73



|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 2 (continued)
|                                                                         
|Balance at close of period - 3/31/95                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/96                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other  *                                                                 
|                                                                         
|Balance at close of period - 3/31/97                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/98                                     



F-74





|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 2 (continued)
|                                                                         
|Balance at close of period - 3/31/98                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other **                                                                 
|                                                                         
|Balance at close of period - 3/31/99                                     
|                                                                         
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other **                                                                 
|                                                                         
|Balance at close of period - 3/31/00                                     
|                                                                         
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other **                                                                 
|                                                                         
|Balance at close of period - 3/31/01                                     
|                                                                         
|                                                                         
|                                                                         
|                                                                         
|                                                                         
|                                                                         



F-75



|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 2 (continued)
|                                                                         
|Reconciliation of Accumulated Depreciation current year changes          
|                                                                         
|Balance at beginning of period - 4/1/92                                  
|Current year expense                                                     
|Balance at close of period - 3/31/93                                     
|Current year expense                                                     
|Balance at close of period - 3/31/94                                     
|Current year expense                                                     
|Balance at close of period - 3/31/95                                     
|Current year expense                                                     
|Balance at close of period - 3/31/96                                     
|Current year expense                                                     
|Balance at close of period - 3/31/97                                     
|Current year expense                                                     
|Balance at close of period - 3/31/98                                     
|Current year expense                                                     
|Balance at close of period - 3/31/99                                     
|Current year expense                                                     
|Balance at close of period - 3/31/00                                     
|Current year expense                                                     
|Balance at close of period - 3/31/01                                     
|                                                                         





F-76



|Boston Capital Tax Credit Fund Limited Partnership - Series 3
Schedule III - Real Estate and Accumulated Depreciation
March 31, 2001
|------------------------------------------------------------------------------------------------------------------------------------
|COL A.                                                                                                                              
|                                                                                                                                    
|Description                                                                                                                         
|128 PARK STREET                                                                                                                     
|ASHLAND INVESTMENT GRP II                                                                                                           
|BELFAST BIRCHES ASSOCIATES                                                                                                          
|BOWDITCH SCHOOL LODGING                                                                                                             
|CALIFORNIA INVESTORS VI                                                                                                             
|CARRIAGE GATE APTS.                                                                                                                 
|CENTRAL PARKWAY TOWERS                                                                                                              
|COLONY COURT APTS.                                                                                                                  
|CRUZ BAY, LTD.                                                                                                                      
|FYLEX HOUSING                                                                                                                       
|GREENWOOD APTS.                                                                                                                     
|HIDDEN COVE APTS.                                                                                                                   
|JACKSON APARTMENTS                                                                                                                  
|LAKE NORTH APTS. II                                                                                                                 
|LAKE PARK L.P.                                                                                                                      
|LAKEWOOD TERRACE LTD.                                                                                                               
|LINCOLN APARTMENTS                                                                                                                  
|MAPLEWOOD APTS.                                                                                                                     
|MOUND PLAZA LTD                                                                                                                     
|OAK CREST MANOR II                                                                                                                  
|                                                                                                                                    

F-77





|Boston Capital Tax Credit Fund II Limited Partnership - Series 3
Schedule III - Real Estate and Accumulated Depreciation
March 31, 2001
|---------------------------------------------------------------------------------------------------------------------------------------
|COL A.                                                                                                                                 
|                                                                                                                                       
|Description                                                                                                                            
|ORANGEWOOD VILLAS                                                                                                                      
|PAIGE HALL                                                                                                                             
|PEDCOR INVESTMENTS                                                                                                                     
|QUEENS COURT APTS.                                                                                                                     
|RAINBOW APARTMENTS                                                                                                                     
|RIPON APARTMENTS                                                                                                                       
|SOUTHPORT, LTD                                                                                                                         
|SUN VILLAGE APTS.                                                                                                                      
|TAYLOR TERRACE APTS.                                                                                                                   
|TRINIDAD APARTMENTS                                                                                                                    
|VASSAR APARTMENTS                                                                                                                      
|VIDALIA L.P.                                                                                                                           
|WILLOW STREET ASSOC.                                                                                                                   
|                                                                                                                                       
|                                                                                                                                       

Since the Operating Partnerships maintain a calendar year end, the information reported on this schedule is as of December 31, 2000.

a    - Decrease due to the reallocation of acquisition costs

b    - Property was disposed of during f/y ending March 31, 1999.

There we no carrying costs as of December 31, 2000. The Column has been omitted for presentation purposes.









F-78



|Notes to Schedule III                                               
|--------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 3       
|                                                                    
|Reconciliation of Land, Building & Improvements current year changes
|                                                                    
|Balance at beginning of period - 4/1/92                             
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other*                                                              
|                                                                    
|Balance at close of period - 3/31/93                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other                                                               
|                                                                    
|Balance at close of period - 3/31/94                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other                                                               
|                                                                    
|Balance at close of period - 3/31/95                                

F-79



|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 3 (continued)
|                                                                         
|Balance at close of period - 3/31/95                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/96                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/97                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/98                                     

F-80



|Notes to Schedule III                                                       
|----------------------------------------------------------------------------
|Boston Capital Tax Credit Fund II Limited Partnership - Series 3 (continued)
|                                                                            
|Balance at close of period - 3/31/98                                        
|Additions during period:                                                    
|Acquisitions through foreclosure                                            
|Other acquisitions                                                          
|Improvements, etc                                                           
|Other                                                                       
|                                                                            
|Deductions during period:                                                   
|Cost of real estate sold                                                    
|Other                                                                       
|                                                                            
|Balance at close of period - 3/31/99                                        
|Additions during period:                                                    
|Acquisitions through foreclosure                                            
|Other acquisitions                                                          
|Improvements, etc                                                           
|Other                                                                       
|                                                                            
|Deductions during period:                                                   
|Cost of real estate sold                                                    
|Other                                                                       
|                                                                            
|Balance at close of period - 3/31/00                                        
|Additions during period:                                                    
|Acquisitions through foreclosure                                            
|Other acquisitions                                                          
|Improvements, etc                                                           
|Other                                                                       
|                                                                            
|Deductions during period:                                                   
|Cost of real estate sold                                                    
|Other                                                                       
|                                                                            
|Balance at close of period - 3/31/01                                        
|                                                                            

F-81



|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 3 (continued)
|                                                                         
|Reconciliation of Accumulated Depreciation current year changes          
|                                                                         
|Balance at beginning of period - 4/1/92                                  
|Current year expense                                                     
|Balance at close of period - 3/31/93                                     
|Current year expense                                                     
|Balance at close of period - 3/31/94                                     
|Current year expense                                                     
|Balance at close of period - 3/31/95                                     
|Current year expense                                                     
|Balance at close of period - 3/31/96                                     
|Current year expense                                                     
|Balance at close of period - 3/31/97                                     
|Current year expense                                                     
|Balance at close of period - 3/31/98                                     
|Current year expense                                                     
|Balance at close of period - 3/31/99                                     
|Current year expense                                                     
|Balance at close of period - 3/31/00                                     
|Current year expense                                                     
|Balance at close of period - 3/31/01                                     
|                                                                         

F-82



|Boston Capital Tax Credit Fund Limited Partnership - Series 4
Schedule III - Real Estate and Accumulated Depreciation
March 31, 2001
|------------------------------------------------------------------------------------------------------------------------------------
|COL A.                                                                                                                              
|                                                                                                                                    
|Description                                                                                                                         
|ARMORY SQUARE LIMITED                                                                                                               
|AUBURN TRACE LTD                                                                                                                    
|AULT APARTMENTS                                                                                                                     
|BOWDITCH SCHOOL LODGING                                                                                                             
|BURLWOOD APARTMENTS                                                                                                                 
|CAMBRIA COMMONS                                                                                                                     
|CENTRAL PARKWAY TOWERS                                                                                                              
|CLEAR VIEW APARTMENTS                                                                                                               
|FULLER TOWNHOMES                                                                                                                    
|GREENWOOD TERRACE LTD                                                                                                               
|HAVEN PARK II                                                                                                                       
|LANDMARK LIMITED PARTNERSHIP                                                                                                        
|MEADOWCREST APARTMENTS                                                                                                              
|MILLIKEN APARTMENTS                                                                                                                 
|MONTANA AVE. APARTMENTS                                                                                                             
|MONTICELLO LTD                                                                                                                      
|NEW GRAND HOTEL                                                                                                                     
|PEDCOR INVESTMENTS 1988-VI                                                                                                          
|                                                                                                                                    
|                                                                                                                                    

F-83





|Boston Capital Tax Credit Fund II Limited Partnership - Series 4
Schedule III - Real Estate and Accumulated Depreciation
March 31, 2001
|---------------------------------------------------------------------------------------------------------------------------------------
|COL A.                                                                                                                                 
|                                                                                                                                       
|Description                                                                                                                            
|ROSENBURG HOTEL                                                                                                                        
|SHOCKOE HILL II APTS.                                                                                                                  
|SUNNYVIEW APARTMENTS                                                                                                                   
|TOPEKA PARK PHASE II                                                                                                                   
|UNITY PARK APTS.                                                                                                                       
|VAN DYCK ESTATES XVI                                                                                                                   
|WICHITA WEST HOUSING                                                                                                                   
|                                                                                                                                       
|                                                                                                                                       
|                                                                                                                                       

Since the Operating Partnerships maintain a calendar year end, the information reported on this schedule is as of December 31, 2000.

a    - Decrease due to the reallocation of acquisition costs

b    - Property was disposed of during f/y ending March 31, 1999.

There we no carrying costs as of December 31, 2000. The Column has been omitted for presentation purposes.



















F-84



|Notes to Schedule III                                               
|--------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 4       
|                                                                    
|Reconciliation of Land, Building & Improvements current year changes
|                                                                    
|Balance at beginning of period - 4/1/92                             
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other*                                                              
|                                                                    
|Balance at close of period - 3/31/93                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other                                                               
|                                                                    
|Balance at close of period - 3/31/94                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other                                                               
|                                                                    
|Balance at close of period - 3/31/95                                

F-85



|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 4 (continued)
|                                                                         
|Balance at close of period - 3/31/95                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/96                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/97                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/98                                     

F-86



|Notes to Schedule III                                                       
|----------------------------------------------------------------------------
|Boston Capital Tax Credit Fund II Limited Partnership - Series 4 (continued)
|                                                                            
|Balance at close of period - 3/31/98                                        
|Additions during period:                                                    
|Acquisitions through foreclosure                                            
|Other acquisitions                                                          
|Improvements, etc                                                           
|Other                                                                       
|                                                                            
|Deductions during period:                                                   
|Cost of real estate sold                                                    
|Other                                                                       
|                                                                            
|Balance at close of period - 3/31/99                                        
|Additions during period:                                                    
|Acquisitions through foreclosure                                            
|Other acquisitions                                                          
|Improvements, etc                                                           
|Other                                                                       
|                                                                            
|Deductions during period:                                                   
|Cost of real estate sold                                                    
|Other                                                                       
|                                                                            
|Balance at close of period - 3/31/00                                        
|Additions during period:                                                    
|Acquisitions through foreclosure                                            
|Other acquisitions                                                          
|Improvements, etc                                                           
|Other                                                                       
|                                                                            
|Deductions during period:                                                   
|Cost of real estate sold                                                    
|Other                                                                       
|                                                                            
|Balance at close of period - 3/31/01                                        
|                                                                            

F-87



|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 4 (continued)
|                                                                         
|Reconciliation of Accumulated Depreciation current year changes          
|                                                                         
|Balance at beginning of period - 4/1/92                                  
|Current year expense                                                     
|Balance at close of period - 3/31/93                                     
|Current year expense                                                     
|Balance at close of period - 3/31/94                                     
|Current year expense                                                     
|Balance at close of period - 3/31/95                                     
|Current year expense                                                     
|Balance at close of period - 3/31/96                                     
|Current year expense                                                     
|Balance at close of period - 3/31/97                                     
|Current year expense                                                     
|Balance at close of period - 3/31/98                                     
|Current year expense                                                     
|Balance at close of period - 3/31/99                                     
|Current year expense                                                     
|Balance at close of period - 3/31/00                                     
|Current year expense                                                     
|Balance at close of period - 3/31/01                                     
|                                                                         

F-88



Boston Capital Tax Credit Fund Limited Partnership - Series 5

Schedule III - Real Estate and Accumulated Depreciation

March 31, 2001



|                        |  |               |                         |                                            |              |  |                                                  |                            |            |                          |                      |               |                                       
|----------------------- |  | ------------- | ----------------------- | ------------------------------------------ | ------------ |  | ------------------------------------------------ | -------------------------- | ---------- | ------------------------ | -------------------- | ------------- | --------------------------------------
|COL A.                  |  | COL B.        | COL C.                  |                                            | COL D.       |  |                                                  | COL E.                     |            | COL F.                   | COL G.               | COL H.        | COL I.                                
|                        |  |               |                         |                                            |              |  |                                                  |                            |            |                          |                      |               |                                       
|                        |  |               | Initial cost to company | Cost capitalized subsequent to acquisition |              |  | Gross amount at which carried at close of period |                            |            |                          |                      |              
|Description             |  | Encum-brances | Land                    | Buildings and improvements                 | Improvements |  | Land                                             | Buildings and
improvements | Total      | Accumulated depreciation | Date of construction | Date
acquired | Life on which depreciation is computed
|ANNADALE                |  | 8,480,788     | 794,249                 | 3,448,985                                  | 8,782,665    |  | 226,000                                          | 12,231,650                 | 12,457,650 | 2,385,748                | 6/90                 | 10/90         | 5-50 yrs                              
|CALEXICO                |  | 1,557,831     | 189,545                 | 2,140,711                                  | 4,211        |  | 189,545                                          | 2,144,922                  | 2,334,467  | 461,882                  | 4/90                 | 2/90          | 5-50 yrs.                             
|GLENHAVEN PARK          |  | 640,879       | 225,000                 | 991,586                                    | (222,373)    |  | 195,000                                          | 769,213                    | 964,213    | 229,311                  | 6/89                 | 6/89          | 40 yrs.                               
|POINT ARENA             |  | 1,194,280     | 79,160                  | 1,715,209                                  | 81,167       |  | 79,160                                           | 1,796,376                  | 1,875,536  | 390,585                  | 2/90                 | 2/90          | 5-50 yrs.                             
|TKO INVESTMENT PROPS. V |  | 955,081       | 192,656                 | 2,991,964                                  | 23,665       |  | 190,691                                          | 3,015,629                  | 3,206,320  | 1,125,680                | 9/89                 | 10/89         | 5-30 yrs.                             
|                        |  | 12,828,859    | 1,480,610               | 11,288,455                                 | 8,669,335    |  | 880,396                                          | 19,957,790                 | 20,838,186 | 4,593,206                |                      |               |                                       
|                        |  |               |                         |                                            |              |  |                                                  |                            |            |                          |                      |               |                                       
|                        |  |               |                         |                                            |              |  |                                                  |                            |            |                          |                      |               |                                       
|                        |  |               |                         |                                            |              |  |                                                  |                            |            |                          |                      |               |                                       
|                        |  |               |                         |                                            |              |  |                                                  |                            |            |                          |                      |               |                                       

Since the Operating Partnerships maintain a calendar year end the information reported on this schedule is as of December 31, 2000.

a   - Decrease due to impairment in year ended December 31, 1997.

b  -  Property deemed to have no value as of March 31, 1999.

**There were no carrying costs as of December 31, 2000.  The column has been omitted for presentation purposes.

F-89



|Notes to Schedule III                                               
|--------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 5       
|                                                                    
|Reconciliation of Land, Building & Improvements current year changes
|                                                                    
|Balance at beginning of period - 4/1/92                             
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other*                                                              
|                                                                    
|Balance at close of period - 3/31/93                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other*                                                              
|                                                                    
|Balance at close of period - 3/31/94                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other                                                               
|                                                                    
|Balance at close of period - 3/31/95                                

F-90



|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 5 (continued)
|Balance at close of period - 3/31/95                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/96                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other  *                                                                 
|                                                                         
|Balance at close of period - 3/31/97                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/98                                     

F-91





|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 5 (continued)
|                                                                         
|Reconciliation of Accumulated Depreciation current year changes          
|                                                                         
|Balance at beginning of period - 4/1/92                                  
|Current year expense                                                     
|Balance at close of period - 3/31/93                                     
|Current year expense                                                     
|Balance at close of period - 3/31/94                                     
|Current year expense                                                     
|Balance at close of period - 3/31/95                                     
|Current year expense                                                     
|Balance at close of period - 3/31/96                                     
|Current year expense                                                     
|Balance at close of period - 3/31/97                                     
|Current year expense                                                     
|Balance at close of period - 3/31/98                                     
|Current year expense                                                     
|Balance at close of period - 3/31/99                                     
|Current year expense                                                     
|Balance at close of period - 3/31/00                                     
|Current year expense                                                     
|Balance at close of period - 3/31/01                                     
|                                                                         

F-92

Boston Capital Tax Credit Fund Limited Partnership - Series 6

Schedule III - Real Estate and Accumulated Depreciation

March 31, 2001



|                         |  |               |                         |                                            |              |  |                                                  |                            |            |                          |                      |               |                                       
|------------------------ |  | ------------- | ----------------------- | ------------------------------------------ | ------------ |  | ------------------------------------------------ | -------------------------- | ---------- | ------------------------ | -------------------- | ------------- | --------------------------------------
|COL A.                   |  | COL B.        | COL C.                  |                                            | COL D.       |  |                                                  | COL E.                     |            | COL F.                   | COL G.               | COL H.        | COL I.                                
|                         |  |               |                         |                                            |              |  |                                                  |                            |            |                          |                      |               |                                       
|                         |  |               | Initial cost to company | Cost capitalized subsequent to acquisition |              |  | Gross amount at which carried at close of period |                            |            |                          |                      |              
|Description              |  | Encum-brances | Land                    | Buildings and improvements                 | Improvements |  | Land                                             | Buildings and
improvements | Total      | Accumulated depreciation | Date of construction | Date
acquired | Life on which depreciation is computed
|AUBURN TRACE             |  | 9,749,058     | 730,000                 | 5,564,052                                  | 9,272,611    |  | 730,000                                          | 14,836,663                 | 15,566,663 | 6,621,999                | Jan-90               | Jun-89        | 5-27.5 yrs.                           
|BRIARWOOD ESTATES        |  | 564,994       | 45,000                  | 694,093                                    | 8,803        |  | 45,000                                           | 702,896                    | 747,896    | 334,812                  | Sep-88               | Sep-89        | 5-27.5 yrs.                           
|COLUMBIA PARK APTS.      |  | 3,277,553     | 189,631                 | 7,194,885                                  | 735,665      |  | 189,631                                          | 7,930,550                  | 8,120,181  | 2,768,792                | Feb-90               | Nov-89        | 5-27.5 yrs.                           
|ELDON ESTATES            |  | 549,021       | 28,000                  | 709,320                                    | 24,291       |  | 28,000                                           | 733,611                    | 761,611    | 350,309                  | Jul-88               | Sep-89        | 5-27.5 yrs.                           
|GREEN PINES APTS.        |  | 1,419,682     | 106,484                 | 1,750,831                                  | 59,257       |  | 106,484                                          | 1,810,088                  | 1,916,572  | 553,575                  | Nov-89               | Oct-89        | 5-27.5 yrs.                           
|HACIENDA VILLA APTS.     |  | 3,780,297     | 233,165                 | 4,135,079                                  | 3,377,947    |  | 233,165                                          | 7,513,026                  | 7,746,191  | 2,093,024                | Jan-90               | Dec-89        | 40 yrs.                               
|HILLANDALE COMMONS       |  | 3,043,339     | 601,653                 | 4,198,973                                  | 2,692,613    |  | 601,653                                          | 6,891,586                  | 7,493,239  | 2,546,750                | Jan-90               | Nov-89        | 5-27.5 yrs.                           
|HOLLAND WEST APTS.       |  | 1,923,668     | 175,000                 | 2,301,607                                  | 905,629      |  | 175,000                                          | 3,207,236                  | 3,382,236  | 1,171,345                | Feb-90               | Dec-89        | 5-27.5 yrs.                           
|KEARNEY PROPERTIES II    |  | 360,102       | 34,000                  | 460,385                                    | 3,721        |  | 34,000                                           | 464,106                    | 498,106    | 228,660                  | Mar-88               | Sep-89        | 5-27.5 yrs.                           
|PLEASANT HILL PROPERTIES |  | 556,676       | 25,000                  | 703,690                                    | 19,675       |  | 25,000                                           | 723,365                    | 748,365    | 331,584                  | May-88               | Sep-89        | 5-27.5 yrs.                           
|ROSENBERG HOTEL          |  | 1,780,013     | 452,000                 | 4,948,372                                  | (2,749,189)  |  | 415,000                                          | 2,199,183                  | 2,614,183  | 257,127                  | Dec-88               | Sep-89        | 5-27.5 yrs.                           
|SHERBURNE SR. HOUSING    |  | 1,299,948     | 43,000                  | 1,786,132                                  | 136,574      |  | 43,000                                           | 1,922,706                  | 1,965,706  | 721,982                  | Jan-92               | Nov-89        | 5-27.5 yrs.                           
|SOCORRO PROPERTIES       |  | 1,240,059     | 85,000                  | 1,652,129                                  | 94,564       |  | 85,000                                           | 1,746,693                  | 1,831,693  | 820,457                  | Oct-89               | Nov-89        | 27.5 yrs.                             
|WARRENSBURG PROPERTIES   |  | 565,465       | 30,000                  | 743,401                                    | 38,997       |  | 30,000                                           | 782,398                    | 812,398    | 386,754                  | Feb-88               | Sep-89        | 5-27.5 yrs.                           
|WOODCLIFF APARTMENTS     |  | 751,888       | 26,795                  | 919,806                                    | 15,401       |  | 26,795                                           | 935,207                    | 962,002    | 441,455                  | Nov-89               | Oct-89        | 5-27.5 yrs.                           
|                         |  |               |                         |                                            |              |  |                                                  |                            |            |                          |                      |               |                                       
|                         |  | 30,861,763    | 2,804,728               | 37,762,755                                 | 14,636,559   |  | 2,767,728                                        | 52,399,314                 | 55,167,042 | 19,628,625               |                      |               |                                       
|                         |  |               |                         |                                            |              |  |                                                  |                            |            |                          |                      |               |                                       
|                         |  |               |                         |                                            |              |  |                                                  |                            |            |                          |                      |               |                                       

Since the Operating Partnerships maintain a calendar year end the information reported on this schedule is as of December 31, 2000.

a   - Decrease due to impairment in year ended December 31, 1997.

b  -  Property deemed to have no value as of March 31, 1999.

**There were no carrying costs as of December 31, 2000.  The column has been omitted for presentation purposes.

F-93







|Notes to Schedule III                                               
|--------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 6       
|                                                                    
|Reconciliation of Land, Building & Improvements current year changes
|                                                                    
|Balance at beginning of period - 4/1/92                             
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other*                                                              
|                                                                    
|Balance at close of period - 3/31/93                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other*                                                              
|                                                                    
|Balance at close of period - 3/31/94                                
|Additions during period:                                            
|Acquisitions through foreclosure                                    
|Other acquisitions                                                  
|Improvements, etc                                                   
|Other                                                               
|                                                                    
|Deductions during period:                                           
|Cost of real estate sold                                            
|Other                                                               
|                                                                    
|Balance at close of period - 3/31/95                                

F-94



|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 6 (continued)
|                                                                         
|Balance at close of period - 3/31/95                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/96                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other  *                                                                 
|                                                                         
|Balance at close of period - 3/31/97                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other                                                                    
|                                                                         
|Balance at close of period - 3/31/98                                     

F-95





|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 6 (continued)
|                                                                         
|Balance at close of period - 3/31/98                                     
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other **                                                                 
|                                                                         
|Balance at close of period - 3/31/99                                     
|                                                                         
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other **                                                                 
|                                                                         
|Balance at close of period - 3/31/00                                     
|                                                                         
|Additions during period:                                                 
|Acquisitions through foreclosure                                         
|Other acquisitions                                                       
|Improvements, etc                                                        
|Other                                                                    
|                                                                         
|Deductions during period:                                                
|Cost of real estate sold                                                 
|Other **                                                                 
|                                                                         
|Balance at close of period - 3/31/01                                     
|                                                                         
|                                                                         
|                                                                         
|                                                                         
|                                                                         
|                                                                         





F-96



|Notes to Schedule III                                                    
|-------------------------------------------------------------------------
|Boston Capital Tax Credit Fund Limited Partnership - Series 6 (continued)
|                                                                         
|Reconciliation of Accumulated Depreciation current year changes          
|                                                                         
|Balance at beginning of period - 4/1/92                                  
|Current year expense                                                     
|Balance at close of period - 3/31/93                                     
|Current year expense                                                     
|Balance at close of period - 3/31/94                                     
|Current year expense                                                     
|Balance at close of period - 3/31/95                                     
|Current year expense                                                     
|Balance at close of period - 3/31/96                                     
|Current year expense                                                     
|Balance at close of period - 3/31/97                                     
|Current year expense                                                     
|Balance at close of period - 3/31/98                                     
|Current year expense                                                     
|Balance at close of period - 3/31/99                                     
|Current year expense                                                     
|Balance at close of period - 3/31/00                                     
|Current year expense                                                     
|Balance at close of period - 3/31/01                                     
|                                                                         



































F-97