FORM 10-Q

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

(Mark One)

(X)   QUARTERLY REPORT PERSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended September 30, 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        0-19443



BOSTON CAPITAL TAX CREDIT FUND II LIMITED PARTNERSHIP.(Exact name of registrant as specified in its charter)



|Delaware                          | 04-3066791         
|--------------------------------- | -------------------
|(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)624-8900

(Former name, former address and former fiscal year, if changed since last report)

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 preceeding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.



|Yes | X |  | No | _
|--- | - |  | -- | -







BOSTON CAPITAL TAX CREDIT FUND II LIMITED PARTNERSHIP



QUARTERLY REPORT ON FORM 10-QFOR THE QUARTER ENDED September 30, 2001



TABLE OF CONTENTS

FOR THE QUARTER ENDED September 30, 2001

BALANCE SHEETS















Three Months Ended September 30,

Statement_of_Operations_Series_07Page 12

Statement_of_Operations_Series_09Page 13

Statement_of_Operations_Series_10Page 14

Statement_of_Operations_Series_11Page 15

Statement_of_Operations_Series_12Page 16

Statement_of_Operations_Series_14Page 17

THREE Months Ended September 30,

Partners_Capital_Series_7page 26

Partners_Capital_Series_9page 26

Partners_Capital_Series_10page 27

Partners_Capital_Series_11Page 27

Partners_Capital_Series_12Page 28

Partners_Capital_Series_14Page 28

Statement_of_Cash_Flows

THREE Months Ended September 30,

Cash_Flows_Series_7page 30

Cash_Flows_Series_9Page 31

Cash_Flows_Series_10Page 32

Cash_Flows_Series_11page 33

Cash_Flows_Series_12page 34

Cash_Flows_Series_14Page 35





























BOSTON CAPITAL TAX CREDIT FUND II LIMITED PARTNERSHIP

QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED September 30, 2001



Notes_to_Financial_Statements









Combined_Statements_of_Operations





















Part_II_Other_Information









Table_of_Contents



Boston Capital Tax Credit Fund II Limited Partnership
BALANCE SHEETS



|                                                 | September 30,
2001
(Unaudited)                                                                                                 | March 31,
2001
(Audited)
|------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------ | ------------------------
|ASSETS                                           |                                                                                                                                |                         
|INVESTMENTS IN OPERATING
   PARTNERSHIPS(Note D) | $ 37,530,380                                                                                                                   | $ 40,320,863            
|OTHER ASSETS                                     |                                                                                                                               
|                                                 | Cash and cash equivalents                                                                                                      | 1,489,656               
|                                                 | Notes receivable                                                                                                               | 543,584                 
|                                                 | Deferred acquisition costs (Note B)                                                                                            | 1,019,795               
|                                                 | Other assets                                                                                                                   | 980,993                 
|                                                 | $41,564,408                                                                                                                    | $44,443,818             
|                                                 |                                                                                                                                |                         
|LIABILITIES                                      |                                                                                                                                |                         
|                                                 | Accounts payable                                                                                                               | $     1,380             
|                                                 | Accounts payable affiliates (Note C)                                                                                           | 23,341,584              
|                                                 |                                                                                                                                |                         
|                                                 | Capital contributions payable (Note D)                                                                                         | 261,103                 
|                                                 | 23,604,067                                                                                                                     | 22,344,156              
|PARTNERS' CAPITAL                                |                                                                                                                                |                         
|                                                 |                                                                                                                                |                         
|Limited Partners                                 |                                                                                                                                |                         
|                                                 | Units of limited partnership 
interest, $10 stated value per
BAC; 20,000,000 authorized BACs;18,679,738 issued and outstanding | 19,397,452              
|General Partner                                  | (1,437,111)                                                                                                                    | (1,395,718)             
|                                                 | 17,960,341                                                                                                                     | 22,099,662              
|                                                 | $41,564,408                                                                                                                    | $44,443,818             







The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund II Limited Partnership
BALANCE SHEETS

Series7



|                                                 | September 30,
2001
(Unaudited)                                                                                                | March 31,
2001
(Audited)
|------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------- | ------------------------
|ASSETS                                           |                                                                                                                               |                         
|INVESTMENTS IN OPERATING
   PARTNERSHIPS(Note D) | $  375,155                                                                                                                    | $  478,143              
|OTHER ASSETS                                     |                                                                                                                              
|                                                 | Cash and cash equivalents                                                                                                     | 4,506                   
|                                                 | Notes receivable                                                                                                              | -                       
|                                                 | Deferred acquisition costs (Note B)                                                                                           | -                       
|                                                 | Other assets                                                                                                                  | 67,204                  
|                                                 | $446,865                                                                                                                      | $551,908                
|                                                 |                                                                                                                               |                         
|LIABILITIES                                      |                                                                                                                               |                         
|                                                 |                                                                                                                               |                         
|                                                 | Accounts payable                                                                                                              | $        -              
|                                                 | Accounts payable affiliates (Note C)                                                                                          | 1,356,083               
|                                                 |                                                                                                                               |                         
|                                                 | Capital contributions payable (Note D)                                                                                        | -                       
|                                                 | 1,356,083                                                                                                                     | 1,293,251               
|                                                 |                                                                                                                               |                         
|PARTNERS' CAPITAL                                |                                                                                                                               |                         
|                                                 |                                                                                                                               |                         
|Limited Partners                                 |                                                                                                                               |                         
|                                                 | Units of limited partnership 
interest, $10 stated value per
BAC; 20,000,000 authorized BACs;1,036,100 issued and outstanding | (810,199)               
|General Partner                                  | (99,019)                                                                                                                      | (97,340)                
|                                                 | (909,218)                                                                                                                     | (741,343)               
|                                                 | $446,865                                                                                                                      | $551,908                



The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund II Limited Partnership
BALANCE SHEETS

Series9



|                                                 | September 30,
2001
(Unaudited)                                                                                                | March 31,
2001
(Audited)
|------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------- | ------------------------
|ASSETS                                           |                                                                                                                               |                         
|INVESTMENTS IN OPERATING
   PARTNERSHIPS(Note D) | $5,521,753                                                                                                                    | $6,138,711              
|                                                 |                                                                                                                               |                         
|OTHER ASSETS                                     |                                                                                                                               |                         
|                                                 | Cash and cash equivalents                                                                                                     | 335,722                 
|                                                 | Notes receivable                                                                                                              | -                       
|                                                 | Deferred acquisition costs (Note B)                                                                                           | 18,268                  
|                                                 | Other assets                                                                                                                  | 209,976                 
|                                                 | $6,085,719                                                                                                                    | $6,712,006              
|                                                 |                                                                                                                               |                         
|LIABILITIES                                      |                                                                                                                               |                         
|                                                 |                                                                                                                               |                         
|                                                 | Accounts payable                                                                                                              | $        -              
|                                                 | Accounts payable affiliates (Note C)                                                                                          | 5,473,775               
|                                                 | Capital contributions payable (NoteD)                                                                                         | -                       
|                                                 | 5,473,775                                                                                                                     | 5,189,472               
|                                                 |                                                                                                                               |                         
|PARTNERS' CAPITAL                                |                                                                                                                               |                         
|Limited Partners                                 |                                                                                                                               |                         
|                                                 | Units of limited partnership 
Interest, $10 stated value per
BAC; 20,000,000 authorized BACs;4,178,029 issued and outstanding | 966,165                 
|General Partner                                  | (354,221)                                                                                                                     | (345,115)               
|                                                 |                                                                                                                               |                         
|                                                 | 611,944                                                                                                                       | 1,522,534               
|                                                 | $6,085,719                                                                                                                    | $6,712,006              



The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund II Limited Partnership
BALANCE SHEETSSeries 10



|                                                   | September 30,
2001
(Unaudited)                                                                                                 | March 31,
2001
(Audited)
|-------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------ | ------------------------
|ASSETS                                             |                                                                                                                                |                         
|INVESTMENTS IN OPERATING 
   PARTNERSHIPS (Note D) | $6,220,104                                                                                                                     | $6,416,705              
|OTHER ASSETS                                       |                                                                                                                                |                         
|                                                   | Cash and cash equivalents                                                                                                      | 127,543                 
|                                                   | Notes receivable                                                                                                               | -                       
|                                                   | Deferred acquisition costs (Note B)                                                                                            | 72,269                  
|                                                   | Other assets                                                                                                                   | 39,786                  
|                                                   | $6,459,702                                                                                                                     | $6,677,369              
|                                                   |                                                                                                                                |                         
|LIABILITIES                                        |                                                                                                                                |                         
|                                                   |                                                                                                                                |                         
|                                                   | Accounts payable                                                                                                               | $        -              
|                                                   | Accounts payable affiliates (Note C)                                                                                           | 3,583,764               
|                                                   | Capital contributions payable (Note D)                                                                                         | -                       
|                                                   | 3,583,764                                                                                                                      | 3,406,008               
|                                                   |                                                                                                                                |                         
|PARTNERS' CAPITAL                                  |                                                                                                                                |                         
|                                                   |                                                                                                                                |                         
|Limited Partners                                   |                                                                                                                                |                         
|                                                   | Units of limited partnership 
Interest, $10 stated value per
BAC; 20,000,000 authorized BACs;2,428,925  issued and outstanding | 3,057,991               
|General Partner                                    | (182,053)                                                                                                                      | (178,099)               
|                                                   | 2,875,938                                                                                                                      | 3,271,361               
|                                                   | $6,459,702                                                                                                                     | $6,677,369              



The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund II Limited Partnership
BALANCE SHEETSSeries 11



|                                               | September 30,
2001
(Unaudited)                                                                                               | March 31,
2001
(Audited)
|---------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------- | ------------------------
|ASSETS                                         |                                                                                                                              |                         
|INVESTMENTS IN OPERATING
PARTNERSHIPS (NOTE D) | $ 6,783,272                                                                                                                  | $ 7,209,128             
|OTHER ASSETS                                   |                                                                                                                              |                         
|                                               | Cash and cash equivalents                                                                                                    | 443,440                 
|                                               | Notes receivable                                                                                                             | -                       
|                                               | Deferred acquisition costs (Note B)                                                                                          | 36,630                  
|                                               | Other assets                                                                                                                 | 76,712                  
|                                               | $7,340,054                                                                                                                   | $7,775,601              
|                                               |                                                                                                                              |                         
|LIABILITIES                                    |                                                                                                                              |                         
|                                               | Accounts payable                                                                                                             | $         -             
|                                               | Accounts payable affiliates (Note C)                                                                                         | 2,766,034               
|                                               | Capital contributions payable (Note D)                                                                                       | 22,528                  
|                                               | 2,788,562                                                                                                                    | 2,625,722               
|                                               |                                                                                                                              |                         
|PARTNERS' CAPITAL                              |                                                                                                                              |                         
|                                               |                                                                                                                              |                         
|Limited Partners                               |                                                                                                                              |                         
|                                               | Units of limited partnership 
Interest, $10 stated value per
BAC; 20,000,000 authorized BACs;2,489,599 ssued and outstanding | 4,720,662               
|General Partner                                | (169,170)                                                                                                                    | (163,186)               
|                                               | 4,551,492                                                                                                                    | 5,149,879               
|                                               | $7,340,054                                                                                                                   | $7,775,601              



The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund II Limited Partnership
BALANCE SHEETSSeries 12



|                                                  | September 30,
2001
(Unaudited)                                                                                                | March 31,
2001
(Audited)
|------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------- | ------------------------
|ASSETS                                            |                                                                                                                               |                         
|INVESTMENTS IN OPERATING
   PARTNERSHIPS (NOTE D) | $ 6,654,617                                                                                                                   | $ 7,243,683             
|OTHER ASSETS                                      |                                                                                                                               |                         
|                                                  | Cash and cash equivalents                                                                                                     | 43,870                  
|                                                  | Notes receivable                                                                                                              | -                       
|                                                  | Deferred acquisition costs (Note B)                                                                                           | 279,653                 
|                                                  | Other assets                                                                                                                  | 116,366                 
|                                                  | $7,094,506                                                                                                                    | $7,707,777              
|                                                  |                                                                                                                               |                         
|LIABILITIES                                       |                                                                                                                               |                         
|                                                  |                                                                                                                               |                         
|                                                  | Accounts payable                                                                                                              | $         -             
|                                                  | Accounts payable affiliates (Note C)                                                                                          | 3,454,324               
|                                                  | Capital contributions payable (Note D)                                                                                        | 11,405                  
|                                                  | 3,465,729                                                                                                                     | 3,271,819               
|                                                  |                                                                                                                               |                         
|PARTNERS' CAPITAL                                 |                                                                                                                               |                         
|                                                  |                                                                                                                               |                         
|Limited Partners                                  |                                                                                                                               |                         
|                                                  | Units of limited partnership 
Interest, $10 stated value per
BAC; 20,000,000 authorized BACs;2,972,795 issued and outstanding | 3,849,749               
|General Partner                                   | (220,972)                                                                                                                     | (212,900)               
|                                                  | 3,628,777                                                                                                                     | 4,435,958               
|                                                  | $7,094,506                                                                                                                    | $7,707,777              



The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund II Limited Partnership
BALANCE SHEETSSeries 14



|                                                  | September 30,
2001
(Unaudited)                                                                                                | March 31,
2001
(Audited)
|------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------- | ------------------------
|ASSETS                                            |                                                                                                                               |                         
|INVESTMENTS IN OPERATING
   PARTNERSHIPS (NOTE D) | $ 11,975,479                                                                                                                  | $ 12,834,493            
|OTHER ASSETS                                      |                                                                                                                               |                         
|                                                  | Cash and cash equivalents                                                                                                     | 534,575                 
|                                                  | Notes receivable                                                                                                              | 543,584                 
|                                                  | Deferred acquisition costs (Note B)                                                                                           | 612,975                 
|                                                  | Other assets                                                                                                                  | 470,949                 
|                                                  | $14,137,562                                                                                                                   | $15,019,157             
|                                                  |                                                                                                                               |                         
|LIABILITIES                                       |                                                                                                                               |                         
|                                                  |                                                                                                                               |                         
|                                                  | Accounts payable                                                                                                              | $      1,380            
|                                                  | Accounts payable affiliates (Note C)                                                                                          | 6,707,604               
|                                                  | Capital contributions payable (Note D)                                                                                        | 227,170                 
|                                                  | 6,936,154                                                                                                                     | 6,557,884               
|                                                  |                                                                                                                               |                         
|PARTNERS' CAPITAL                                 |                                                                                                                               |                         
|                                                  |                                                                                                                               |                         
|Limited Partners                                  |                                                                                                                               |                         
|                                                  | Units of limited partnership 
Interest, $10 stated value per
BAC; 20,000,000 authorized BACs;5,574,290 issued and outstanding | 7,613,085               
|General Partner                                   | (411,677)                                                                                                                     | (399,078)               
|                                                  | 7,201,408                                                                                                                     | 8,461,273               
|                                                  | $14,317,562                                                                                                                   | $15,019,157             



The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund II Limited PartnershipSTATEMENTS OF OPERATIONS Three Months Ended September 30,
(Unaudited)





|                                                     | 2001                                   | 2000         
|---------------------------------------------------- | -------------------------------------- | -------------
|                                                     |                                        |              
|Income                                               |                                        |              
|                                                     | Interest income                        | $      12,342
|                                                     | Other income                           | 2,269        
|                                                     | 14,611                                 | 13,112       
|                                                     |                                        |              
|Share of loss from Operating 
  Partnerships(Note D) | (1,439,901)                            | (1,093,345)  
|                                                     |                                        |              
|Expenses                                             |                                        |              
|                                                     |                                        |              
|                                                     | Partnership management fee (Note C)    | 584,109      
|                                                     | Amortization                           | 12,139       
|                                                     | General and administrative expenses    | 147,900      
|                                                     | 744,148                                | 782,016      
|                                                     |                                        |              
|NET LOSS                                             | $(2,169,438)                           | $(1,862,249) 
|                                                     |                                        |              
|                                                     | Net loss allocated to limited partners | $(2,147,744) 
|                                                     |                                        |              
|                                                     | Net loss allocated general partner     | $(21,694)    
|                                                     |                                        |              
|                                                     | Net loss per BAC                       | $(.68)       
|                                                     |                                        |              



The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Three Months Ended September 30, 
(Unaudited)

Series7



|                                                     | 2001                                   | 2000      
|---------------------------------------------------- | -------------------------------------- | ----------
|                                                     |                                        |           
|Income                                               |                                        |           
|                                                     | Interest income                        | $       22
|                                                     | Other income                           | -         
|                                                     | 22                                     | 20        
|                                                     |                                        |           
|Share of loss from Operating 
  Partnerships(Note D) | (23,622)                               | (50,914)  
|                                                     |                                        |           
|Expenses                                             |                                        |           
|                                                     |                                        |           
|                                                     | Partnership management fee (Note C)    | 24,098    
|                                                     | Amortization                           | -         
|                                                     | General and administrative expenses    | 8,738     
|                                                     | 32,836                                 | 37,167    
|                                                     |                                        |           
|NET LOSS                                             | $(56,436)                              | $(88,061) 
|                                                     |                                        |           
|                                                     | Net loss allocated to limited partners | $(55,872) 
|                                                     |                                        |           
|                                                     | Net loss allocated general partner     | $(564)    
|                                                     |                                        |           
|                                                     | Net loss per BAC                       | $(.05)    
|                                                     |                                        |           





The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series9



|                                                     | 2001                                   | 2000       
|---------------------------------------------------- | -------------------------------------- | -----------
|                                                     |                                        |            
|Income                                               |                                        |            
|                                                     | Interest income                        | $     2,311
|                                                     | Other income                           | 2,269      
|                                                     | 4,580                                  | 2,810      
|                                                     |                                        |            
|Share of loss from Operating 
  Partnerships(Note D) | (318,010)                              | (245,687)  
|                                                     |                                        |            
|Expenses                                             |                                        |            
|                                                     |                                        |            
|                                                     | Partnership management fee (Note C)    | 128,320    
|                                                     | Amortization                           | 217        
|                                                     | General and administrative expenses    | 24,166     
|                                                     | 152,703                                | 163,349    
|                                                     |                                        |            
|NET LOSS                                             | $(466,133)                             | $(406,226) 
|                                                     |                                        |            
|                                                     | Net loss allocated to limited partners | $(461,472) 
|                                                     |                                        |            
|                                                     | Net loss allocated general partner     | $(4,661)   
|                                                     |                                        |            
|                                                     | Net loss per BAC                       | $(.11)     
|                                                     |                                        |            

The accompanying notes are an integral part of this statement



















Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)Series10



|                                                     | 2001                                   | 2000       
|---------------------------------------------------- | -------------------------------------- | -----------
|                                                     |                                        |            
|Income                                               |                                        |            
|                                                     | Interest income                        | $     1,231
|                                                     | Other income                           | -          
|                                                     | 1,231                                  | 1,370      
|                                                     |                                        |            
|Share of loss from Operating 
  Partnerships(Note D) | (102,211)                              | (89,466)   
|                                                     |                                        |            
|Expenses                                             |                                        |            
|                                                     |                                        |            
|                                                     | Partnership management fee (Note C)    | 85,378     
|                                                     | Amortization                           | 860        
|                                                     | General and administrative expenses    | 20,645     
|                                                     | 106,883                                | 103,217    
|                                                     |                                        |            
|NET LOSS                                             | $(207,863)                             | $(191,313) 
|                                                     |                                        |            
|                                                     | Net loss allocated to limited partners | $(205,784) 
|                                                     |                                        |            
|                                                     | Net loss allocated general partner     | $(2,079)   
|                                                     |                                        |            
|                                                     | Net loss per BAC                       | $(.09)     
|                                                     |                                        |            



The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)Series 11



|                                                     | 2001                                   | 2000       
|---------------------------------------------------- | -------------------------------------- | -----------
|                                                     |                                        |            
|Income                                               |                                        |            
|                                                     | Interest Income                        | $     3,249
|                                                     | Other income                           | -          
|                                                     | 3,249                                  | 2,929      
|                                                     |                                        |            
|Share of loss from Operating 
  Partnerships(Note D) | (212,915)                              | (198,643)  
|                                                     |                                        |            
|Expenses                                             |                                        |            
|                                                     |                                        |            
|                                                     | Partnership management fee (Note C)    | 80,420     
|                                                     | Amortization                           | 436        
|                                                     | General and administrative expenses    | 20,190     
|                                                     | 101,046                                | 102,169    
|                                                     |                                        |            
|NET LOSS                                             | $(310,712)                             | $(297,883) 
|                                                     |                                        |            
|                                                     | Net loss allocated to limited partners | $(307,605) 
|                                                     |                                        |            
|                                                     | Net loss allocated general partner     | $(3,107)   
|                                                     |                                        |            
|                                                     | Net loss per BAC                       | $(.12)     
|                                                     |                                        |            

The accompanying notes are an integral part of this statement















Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)Series 12



|                                                     | 2001                                   | 2000       
|---------------------------------------------------- | -------------------------------------- | -----------
|                                                     |                                        |            
|Income                                               |                                        |            
|                                                     | Interest Income                        | $       264
|                                                     | Other income                           | -          
|                                                     | 264                                    | 376        
|                                                     |                                        |            
|Share of loss from Operating 
  Partnerships(Note D) | (421,300)                              | (212,014)  
|                                                     |                                        |            
|Expenses                                             |                                        |            
|                                                     |                                        |            
|                                                     | Partnership management fee (Note C)    | 89,817     
|                                                     | Amortization                           | 3,329      
|                                                     | General and administrative expenses    | 23,153     
|                                                     | 116,299                                | 128,660    
|                                                     |                                        |            
|NET LOSS                                             | $(537,335)                             | $(340,298) 
|                                                     |                                        |            
|                                                     | Net loss allocated to limited partners | $(531,962) 
|                                                     |                                        |            
|                                                     | Net loss allocated general partner     | $(5,373)   
|                                                     |                                        |            
|                                                     | Net loss per BAC                       | $(.18)     
|                                                     |                                        |            























Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Three Months Ended June 30, 
(Unaudited)Series 14



|                                                     | 2001                                   | 2000       
|---------------------------------------------------- | -------------------------------------- | -----------
|                                                     |                                        |            
|Income                                               |                                        |            
|                                                     | Interest income                        | $     5,265
|                                                     | Other income                           | -          
|                                                     | 5,265                                  | 5,607      
|                                                     |                                        |            
|Share of loss from Operating 
  Partnerships(Note D) | (361,843)                              | (296,621)  
|                                                     |                                        |            
|Expenses                                             |                                        |            
|                                                     |                                        |            
|                                                     | Partnership management fee (Note C)    | 176,076    
|                                                     | Amortization                           | 7,297      
|                                                     | General and administrative expenses    | 51,008     
|                                                     | 234,381                                | 247,454    
|                                                     |                                        |            
|NET LOSS                                             | $(590,959)                             | $(538,468) 
|                                                     |                                        |            
|                                                     | Net loss allocated to limited partners | $(585,049) 
|                                                     |                                        |            
|                                                     | Net loss allocated general partner     | $(5,910)   
|                                                     |                                        |            
|                                                     | Net loss per BAC                       | $(.12)     
|                                                     |                                        |            

The accompanying notes are an integral part of this statement









Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS 
Six Months Ended September 30, 
(Unaudited)





|                                                     | 2001                                   | 2000         
|---------------------------------------------------- | -------------------------------------- | -------------
|                                                     |                                        |              
|Income                                               |                                        |              
|                                                     | Interest income                        | $      25,906
|                                                     | Other income                           | 4,403        
|                                                     | 30,309                                 | 29,549       
|                                                     |                                        |              
|Share of loss from Operating 
  Partnerships(Note D) | (2,784,448)                            | (2,824,440)  
|                                                     |                                        |              
|Expenses                                             |                                        |              
|                                                     |                                        |              
|                                                     | Partnership management fee (Note C)    | 1,146,961    
|                                                     | Amortization                           | 24,281       
|                                                     | General and administrative expenses    | 213,940      
|                                                     | 1,385,182                              | 1,386,500    
|                                                     |                                        |              
|NET LOSS                                             | $(4,139,321)                           | $(4,181,391) 
|                                                     |                                        |              
|                                                     | Net loss allocated to limited partners | $(4,097,928) 
|                                                     |                                        |              
|                                                     | Net loss allocated general partner     | $(41,393)    
|                                                     |                                        |              
|                                                     | Net loss per BAC                       | $(1.17)      
|                                                     |                                        |              

The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Six Months Ended September 30, 
(Unaudited)

Series 7



|                                                     | 2001                                   | 2000       
|---------------------------------------------------- | -------------------------------------- | -----------
|                                                     |                                        |            
|Income                                               |                                        |            
|                                                     | Interest income                        | $        51
|                                                     | Other income                           | -          
|                                                     | 51                                     | 60         
|                                                     |                                        |            
|Share of loss from Operating 
  Partnerships(Note D) | (102,990)                              | (100,608)  
|                                                     |                                        |            
|Expenses                                             |                                        |            
|                                                     |                                        |            
|                                                     | Partnership management fee (Note C)    | 52,385     
|                                                     | Amortization                           | -          
|                                                     | General and administrative expenses    | 12,551     
|                                                     | 64,936                                 | 68,532     
|                                                     |                                        |            
|NET LOSS                                             | $(167,875)                             | $(169,080) 
|                                                     |                                        |            
|                                                     | Net loss allocated to limited partners | $(166,196) 
|                                                     |                                        |            
|                                                     | Net loss allocated general partner     | $(1,679)   
|                                                     |                                        |            
|                                                     | Net loss per BAC                       | $(.16)     
|                                                     |                                        |            





The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 9



|                                                     | 2001                                   | 2000       
|---------------------------------------------------- | -------------------------------------- | -----------
|                                                     |                                        |            
|Income                                               |                                        |            
|                                                     | Interest income                        | $     4,881
|                                                     | Other income                           | 2,521      
|                                                     | 7,402                                  | 7,995      
|                                                     |                                        |            
|Share of loss from Operating 
  Partnerships(Note D) | (616,244)                              | (540,537)  
|                                                     |                                        |            
|Expenses                                             |                                        |            
|                                                     |                                        |            
|                                                     | Partnership management fee (Note C)    | 263,153    
|                                                     | Amortization                           | 435        
|                                                     | General and administrative expenses    | 38,160     
|                                                     | 301,748                                | 292,856    
|                                                     |                                        |            
|NET LOSS                                             | $(910,590)                             | $(825,398) 
|                                                     |                                        |            
|                                                     | Net loss allocated to limited partners | $(901,484) 
|                                                     |                                        |            
|                                                     | Net loss allocated general partner     | $(9,106)   
|                                                     |                                        |            
|                                                     | Net loss per BAC                       | $(.22)     
|                                                     |                                        |            

The accompanying notes are an integral part of this statement



















Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Six Months Ended September 30,    
(Unaudited)Series 10



|                                                     | 2001                                   | 2000       
|---------------------------------------------------- | -------------------------------------- | -----------
|                                                     |                                        |            
|Income                                               |                                        |            
|                                                     | Interest income                        | $     2,795
|                                                     | Other income                           | -          
|                                                     | 2,795                                  | 2,640      
|                                                     |                                        |            
|Share of loss from Operating 
  Partnerships(Note D) | (196,048)                              | (293,072)  
|                                                     |                                        |            
|Expenses                                             |                                        |            
|                                                     |                                        |            
|                                                     | Partnership management fee (Note C)    | 170,231    
|                                                     | Amortization                           | 1,721      
|                                                     | General and administrative expenses    | 30,218     
|                                                     | 202,170                                | 193,137    
|                                                     |                                        |            
|NET LOSS                                             | $(395,423)                             | $(483,569) 
|                                                     |                                        |            
|                                                     | Net loss allocated to limited partners | $(391,469) 
|                                                     |                                        |            
|                                                     | Net loss allocated general partner     | $(3,954)   
|                                                     |                                        |            
|                                                     | Net loss per BAC                       | $(.16)     
|                                                     |                                        |            



The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Six Months Ended September 30,    
(Unaudited)Series 11



|                                                     | 2001                                   | 2000       
|---------------------------------------------------- | -------------------------------------- | -----------
|                                                     |                                        |            
|Income                                               |                                        |            
|                                                     | Interest Income                        | $     6,893
|                                                     | Other income                           | 1,882      
|                                                     | 8,775                                  | 5,716      
|                                                     |                                        |            
|Share of loss from Operating 
  Partnerships(Note D) | (425,777)                              | (443,904)  
|                                                     |                                        |            
|Expenses                                             |                                        |            
|                                                     |                                        |            
|                                                     | Partnership management fee (Note C)    | 151,610    
|                                                     | Amortization                           | 872        
|                                                     | General and administrative expenses    | 28,903     
|                                                     | 181,385                                | 187,381    
|                                                     |                                        |            
|NET LOSS                                             | $(598,387)                             | $(625,569) 
|                                                     |                                        |            
|                                                     | Net loss allocated to limited partners | $(592,403) 
|                                                     |                                        |            
|                                                     | Net loss allocated general partner     | $(5,984)   
|                                                     |                                        |            
|                                                     | Net loss per BAC                       | $(.24)     
|                                                     |                                        |            

The accompanying notes are an integral part of this statement













Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)Series 12



|                                                     | 2001                                   | 2000       
|---------------------------------------------------- | -------------------------------------- | -----------
|                                                     |                                        |            
|Income                                               |                                        |            
|                                                     | Interest Income                        | $       571
|                                                     | Other income                           | -          
|                                                     | 571                                    | 775        
|                                                     |                                        |            
|Share of loss from Operating 
  Partnerships(Note D) | (588,414)                              | (557,659)  
|                                                     |                                        |            
|Expenses                                             |                                        |            
|                                                     |                                        |            
|                                                     | Partnership management fee (Note C)    | 178,675    
|                                                     | Amortization                           | 6,658      
|                                                     | General and administrative expenses    | 34,005     
|                                                     | 219,338                                | 226,188    
|                                                     |                                        |            
|NET LOSS                                             | $(807,181)                             | $(783,072) 
|                                                     |                                        |            
|                                                     | Net loss allocated to limited partners | $(799,109) 
|                                                     |                                        |            
|                                                     | Net loss allocated general partner     | $(8,072)   
|                                                     |                                        |            
|                                                     | Net loss per BAC                       | $(.27)     
|                                                     |                                        |            























Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF OPERATIONS
Six Months Ended September 30, 
(Unaudited)Series 14



|                                                     | 2001                                   | 2000        
|---------------------------------------------------- | -------------------------------------- | ------------
|                                                     |                                        |             
|Income                                               |                                        |             
|                                                     | Interest income                        | $    10,715 
|                                                     | Other income                           | -           
|                                                     | 10,715                                 | 12,363      
|                                                     |                                        |             
|Share of loss from Operating 
  Partnerships(Note D) | (854,975)                              | (888,660)   
|                                                     |                                        |             
|Expenses                                             |                                        |             
|                                                     |                                        |             
|                                                     | Partnership management fee (Note C)    | 330,907     
|                                                     | Amortization                           | 14,595      
|                                                     | General and administrative expenses    | 70,103      
|                                                     | 415,605                                | 418,406     
|                                                     |                                        |             
|NET LOSS                                             | $(1,259,865)                           | $(1,294,703)
|                                                     |                                        |             
|                                                     | Net loss allocated to limited partners | $(1,247,266)
|                                                     |                                        |             
|                                                     | Net loss allocated general partner     | $(12,599)   
|                                                     |                                        |             
|                                                     | Net loss per BAC                       | $(.12)      
|                                                     |                                        |             

The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
Six Months Ended September 30, 
(Unaudited)



|                                                    | Assignees    | GeneralPartner | Total       
|--------------------------------------------------- | ------------ | -------------- | ------------
|                                                    |              |                |             
|Partners' capital 
 (deficit)
  April 1, 2001       | $ 23,495,380 | $ (1,395,718)  | $ 22,099,662
|                                                    |              |                |             
|                                                    |              |                |             
|Net income (loss)                                   | (4,097,928)  | (41,393)       | (4,139,321) 
|                                                    |              |                |             
|Partners' capital 
 (deficit),
  September 30, 2001 | $19,397,452  | $(1,437,111)   | $17,960,341 
|                                                    |              |                |             

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30,
(Unaudited)



|                                                   | Assignees   | GeneralPartner | Total        
|-------------------------------------------------- | ----------- | -------------- | -------------
|Series7                                            |             |                |              
|Partners' capital 
 (deficit)
  April 1, 2001      | $ (644,003) | $ (97,340)     | $ (741,343)  
|                                                  
|Net income (loss)                                  | (166,196)   | (1,679)        | (167,875)    
|                                                   |             |                |              
|Partners' capital 
 (deficit)
  September 30, 2001 | $(810,199)  | $(99,019)      | $(909,218)   
|                                                   |            
|Series9                                            |             |                |              
|Partners' capital 
 (deficit)
  April 1, 2001      | $ 1,867,649 | $ (345,115)    | $   1,522,534
|                                                  
|Net income (loss)                                  | (901,484)   | (9,106)        | (910,590)    
|                                                   |             |                |              
|Partners' capital 
 (deficit)
  September 30, 2001 | $966,165    | $(354,221)     | $611,944     
|                                                   |             |                |              















The accompanying notes are an integral part of these statements.



























Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30,
(Unaudited)



|                                                   | Assignees   | GeneralPartner | Total      
|-------------------------------------------------- | ----------- | -------------- | -----------
|Series 10                                          |             |                |            
|Partners' capital 
 (deficit)
  April 1, 2001      | $ 3,449,460 | $ (178,099)    | $ 3,271,361
|                                                  
|Net income (loss)                                  | (391,469)   | (3,954)        | (395,423)  
|                                                   |             |                |            
|Partners' capital 
 (deficit)
  September 30, 2001 | $3,057,991  | $(182,053)     | $2,875,938 
|                                                  
|Series 11                                          |             |                |            
|Partners' capital 
 (deficit)
  April 1, 2001      | $ 5,313,065 | $ (163,186)    | $ 5,149,879
|                                                  
|Net income (loss)                                  | (592,403)   | (5,984)        | (598,387)  
|                                                   |             |                |            
|Partners' capital 
 (deficit)
  September 30, 2001 | $4,720,662  | $(169,170)     | $4,551,492 
|                                                   |             |                |            

The accompanying notes are an integral part of this statement















Boston Capital Tax Credit Fund II Limited Partnership
STATEMENTS OF CHANGES IN PARTNERS' CAPITAL 
Six Months Ended September 30, 
(Unaudited)



|                                                   | Assignees    | GeneralPartner | Total      
|-------------------------------------------------- | ------------ | -------------- | -----------
|Series 12                                          |              |                |            
|Partners' capital 
 (deficit)
  April 1, 2001      | $  4,648,858 | $  (212,900)   | $ 4,435,958
|                                                  
|Net income (loss)                                  | (799,109)    | (8,072)        | (807,181)  
|                                                   |              |                |            
|Partners' capital 
 (deficit)
  September 30, 2001 | $3,849,749   | $(220,972)     | $3,628,777 
|                                                   |              |                |            
|Series 14                                          |              |                |            
|Partners' capital 
 (deficit)
  April 1, 2001      | $  8,860,351 | $(399,078)     | $ 8,461,273
|                                                  
|Net income (loss)                                  | (1,247,266)  | (12,599)       | (1,259,865)
|                                                   |              |                |            
|Partners' capital 
 (deficit)
  September 30, 2001 | $7,613,085   | $(411,677)     | $7,201,408 
|                                                   |              |                |            

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS
Six Months Ended September 30, 
(Unaudited)



|                                                         | 2001                                                               | 2000                                     
|-------------------------------------------------------- | ------------------------------------------------------------------ | -----------------------------------------
|Cash Flows from operating activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|Net Loss                                                 | $(4,139,321)                                                       | $(4,181,391)                             
|Adjustments                                              |                                                                    |                                          
|                                                         |                                                                    | Distributions from Operating
Partnerships
|                                                         |                                                                    | Amortization                             
|                                                         |                                                                    | Share of Loss from Operating Partnerships
|                                                         | Changes in assets and liabilities                                  |                                          
|                                                         |                                                                    | (Decrease) Increase in accounts payable  
|                                                         |                                                                    | Decrease (Increase) in other assets      
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in) provided by
operating activities                | (56,162)                                 
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|Cash Flows from investing activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Capital Contributions paid to Operating
Partnerships               | -                                        
|                                                         | Advances (made to) repaid from Operating
Partnerships              | -                                        
|                                                         |                                                                    |                                          
|Net cash (used in) provided by
     investing activities | -                                                                  | -                                        
|                                                         |                                                                    |                                          
|Cash flows from financing activity:                      |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Credit adjusters received from
(refunded to)Operating Partnerships | -                                        
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in)provided by
financing activity                   | -                                        
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS                   | (56,162)                                 
|                                                         |                                                                    |                                          
|Cash and cash equivalents, beginning                     | 1,545,818                                                          | 1,512,272                                
|                                                         |                                                                    |                                          
|Cash and cash equivalents, ending                        | $1,489,656                                                         | $1,408,746                               
|                                                         |                                                                    |                                          

The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS
Six Months Ended September 30, 
(Unaudited)Series 7



|                                                         | 2001                                                               | 2000                                     
|-------------------------------------------------------- | ------------------------------------------------------------------ | -----------------------------------------
|Cash Flows from operating activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|Net Loss                                                 | $  (167,875)                                                       | $  (169,080)                             
|Adjustments                                              |                                                                    |                                          
|                                                         |                                                                    | Distributions from Operating
Partnerships
|                                                         |                                                                    | Amortization                             
|                                                         |                                                                    | Share of Loss from Operating Partnerships
|                                                         | Changes in assets and liabilities                                  |                                          
|                                                         |                                                                    | (Decrease) Increase in accounts payable  
|                                                         |                                                                    | Decrease (Increase) in other assets      
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in) provided by
operating activities                | (2,055)                                  
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|Cash Flows from investing activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Capital Contributions paid to Operating Partnerships               | -                                        
|                                                         | Advances (made to) repaid from Operating Partnerships              | -                                        
|                                                         |                                                                    |                                          
|Net cash (used in) provided by
     investing activities | -                                                                  | -                                        
|                                                         |                                                                    |                                          
|Cash flows from financing activity:                      |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Credit adjusters received from
(refunded to)Operating Partnerships | -                                        
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in)provided by
financing activity                   | -                                        
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS                   | (2,055)                                  
|                                                         |                                                                    |                                          
|Cash and cash equivalents, beginning                     | 6,561                                                              | 4,929                                    
|                                                         |                                                                    |                                          
|Cash and cash equivalents, ending                        | $4,506                                                             | $6,270                                   
|                                                         |                                                                    |                                          

The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS
Six Months Ended September 30, 
(Unaudited)Series 9



|                                                         | 2001                                                               | 2000                                     
|-------------------------------------------------------- | ------------------------------------------------------------------ | -----------------------------------------
|Cash Flows from operating activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|Net Loss                                                 | $  (910,590)                                                       | $  (825,398)                             
|Adjustments                                              |                                                                    |                                          
|                                                         |                                                                    | Distributions from Operating
Partnerships
|                                                         |                                                                    | Amortization                             
|                                                         |                                                                    | Share of Loss from Operating Partnerships
|                                                         | Changes in assets and liabilities                                  |                                          
|                                                         |                                                                    | (Decrease) Increase in accounts payable  
|                                                         |                                                                    | Decrease (Increase) in other assets      
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in) provided by
operating activities                | (3,020)                                  
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|Cash Flows from investing activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Capital Contributions paid to Operating Partnerships               | -                                        
|                                                         | Advances (made to) repaid from Operating Partnerships              | -                                        
|                                                         |                                                                    |                                          
|Net cash (used in) provided by
     investing activities | -                                                                  | -                                        
|                                                         |                                                                    |                                          
|Cash flows from financing activity:                      |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Credit adjusters received from
(refunded to)Operating Partnerships | -                                        
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in)provided by
financing activity                   | -                                        
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS                   | (3,020)                                  
|                                                         |                                                                    |                                          
|Cash and cash equivalents, beginning                     | 338,742                                                            | 335,866                                  
|                                                         |                                                                    |                                          
|Cash and cash equivalents, ending                        | $335,722                                                           | $341,756                                 
|                                                         |                                                                    |                                          

The accompanying notes are an integral part of this statement







Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS
Six Months Ended September 30, 
(Unaudited)Series 10



|                                                         | 2001                                                               | 2000                                     
|-------------------------------------------------------- | ------------------------------------------------------------------ | -----------------------------------------
|Cash Flows from operating activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|Net Loss                                                 | $  (395,423)                                                       | $  (483,569)                             
|Adjustments                                              |                                                                    |                                          
|                                                         |                                                                    | Distributions from Operating
Partnerships
|                                                         |                                                                    | Amortization                             
|                                                         |                                                                    | Share of Loss from Operating Partnerships
|                                                         | Changes in assets and liabilities                                  |                                          
|                                                         | (Decrease) Increase in accounts payable                            | 177,756                                  
|                                                         | Decrease (Increase) in other assets                                | 3,057                                    
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in) provided by
operating activities                | (16,288)                                 
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|Cash Flows from investing activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Capital Contributions paid to Operating Partnerships               | -                                        
|                                                         | Advances (made to) repaid from Operating Partnerships              | -                                        
|                                                         |                                                                    |                                          
|Net cash (used in) provided by
     investing activities | -                                                                  | -                                        
|                                                         |                                                                    |                                          
|Cash flows from financing activity:                      |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Credit adjusters received from
(refunded to)Operating Partnerships | -                                        
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in)provided by
financing activity                   | -                                        
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS                   | (16,288)                                 
|                                                         |                                                                    |                                          
|Cash and cash equivalents, beginning                     | 143,831                                                            | 121,866                                  
|                                                         |                                                                    |                                          
|Cash and cash equivalents, ending                        | $127,543                                                           | $113,261                                 
|                                                         |                                                                    |                                          

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS
Six Months Ended September 30, 
(Unaudited)Series 11



|                                                         | 2001                                                               | 2000                                     
|-------------------------------------------------------- | ------------------------------------------------------------------ | -----------------------------------------
|Cash Flows from operating activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|Net Loss                                                 | $  (598,387)                                                       | $  (625,569)                             
|Adjustments                                              |                                                                    |                                          
|                                                         |                                                                    | Distributions from Operating
Partnerships
|                                                         |                                                                    | Amortization                             
|                                                         |                                                                    | Share of Loss from Operating Partnerships
|                                                         | Changes in assets and liabilities                                  |                                          
|                                                         |                                                                    | (Decrease) Increase in accounts payable  
|                                                         |                                                                    | Decrease (Increase) in other assets      
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in) provided by
operating activities                | (4,171)                                  
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|Cash Flows from investing activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Capital Contributions paid to Operating Partnerships               | -                                        
|                                                         | Advances (made to) repaid from Operating Partnerships              | -                                        
|                                                         |                                                                    |                                          
|Net cash (used in) provided by
     investing activities | -                                                                  | -                                        
|                                                         |                                                                    |                                          
|Cash flows from financing activity:                      |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Credit adjusters received from
(refunded to)Operating Partnerships | -                                        
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in)provided by
financing activity                   | -                                        
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS                   | (4,171)                                  
|                                                         |                                                                    |                                          
|Cash and cash equivalents, beginning                     | 447,611                                                            | 389,019                                  
|                                                         |                                                                    |                                          
|Cash and cash equivalents, ending                        | $443,440                                                           | $374,403                                 
|                                                         |                                                                    |                                          

The accompanying notes are an integral part of this statement

















Boston Capital Tax Credit Fund II Limited Partnership



STATEMENTS OF CASH FLOWS
Six Months Ended September 30, 
(Unaudited)Series 12



|                                                         | 2001                                                               | 2000                                     
|-------------------------------------------------------- | ------------------------------------------------------------------ | -----------------------------------------
|Cash Flows from operating activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|Net Loss                                                 | $  (807,181)                                                       | $  (783,072)                             
|Adjustments                                              |                                                                    |                                          
|                                                         |                                                                    | Distributions from Operating
Partnerships
|                                                         |                                                                    | Amortization                             
|                                                         |                                                                    | Share of Loss from Operating Partnerships
|                                                         | Changes in assets and liabilities                                  |                                          
|                                                         |                                                                    | (Decrease) Increase in accounts payable  
|                                                         |                                                                    | Decrease (Increase) in other assets      
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in) provided by
operating activities                | (17,546)                                 
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|Cash Flows from investing activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Capital Contributions paid to Operating Partnerships               | -                                        
|                                                         | Advances (made to) repaid from Operating Partnerships              | -                                        
|                                                         |                                                                    |                                          
|Net cash (used in) provided by
     investing activities | -                                                                  | -                                        
|                                                         |                                                                    |                                          
|Cash flows from financing activity:                      |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Credit adjusters received from
(refunded to)Operating Partnerships | -                                        
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in)provided by
financing activity                   | -                                        
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS                   | (17,546)                                 
|                                                         |                                                                    |                                          
|Cash and cash equivalents, beginning                     | 61,416                                                             | 68,437                                   
|                                                         |                                                                    |                                          
|Cash and cash equivalents, ending                        | $43,870                                                            | $46,459                                  
|                                                         |                                                                    |                                          

The accompanying notes are an integral part of this statement





Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)Series 14



|                                                         | 2001                                                               | 2000                                     
|-------------------------------------------------------- | ------------------------------------------------------------------ | -----------------------------------------
|Cash Flows from operating activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|Net Loss                                                 | $(1,259,865)                                                       | $(1,294,703)                             
|Adjustments                                              |                                                                    |                                          
|                                                         |                                                                    | Distributions from Operating
Partnerships
|                                                         |                                                                    | Amortization                             
|                                                         |                                                                    | Share of Loss from Operating Partnerships
|                                                         | Changes in assets and liabilities                                  |                                          
|                                                         |                                                                    | (Decrease) Increase in accounts payable  
|                                                         |                                                                    | Decrease (Increase) in other assets      
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in) provided by
operating activities                | (13,082)                                 
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|Cash Flows from investing activities:                    |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Capital Contributions paid to Operating Partnerships               | -                                        
|                                                         | Advances (made to) repaid from Operating Partnerships              | -                                        
|                                                         |                                                                    |                                          
|Net cash (used in) provided by
     investing activities | -                                                                  | -                                        
|                                                         |                                                                    |                                          
|Cash flows from financing activity:                      |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | Credit adjusters received from
(refunded to)Operating Partnerships | -                                        
|                                                         |                                                                    |                                          
|                                                         | Net cash (used in)provided by
financing activity                   | -                                        
|                                                         |                                                                    |                                          
|                                                         |                                                                    |                                          
|                                                         | INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS                   | (13,082)                                 
|                                                         |                                                                    |                                          
|Cash and cash equivalents, beginning                     | 547,657                                                            | 592,155                                  
|                                                         |                                                                    |                                          
|Cash and cash equivalents, ending                        | $534,575                                                           | $526,597                                 
|                                                         |                                                                    |                                          

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO FINANCIAL STATEMENTS

September 30, 2001

(Unaudited)

NOTE A - ORGANIZATION

Boston Capital Tax Credit Fund II Limited Partnership (the "Partnership") was
formed under the laws of the State of Delaware as of June 28, 1989, for the
purpose of acquiring, holding, and disposing of limited partnership interests
in operating partnerships which will acquire, develop, rehabilitate, operate
and own newly constructed, existing or rehabilitated low-income apartment
complexes ("Operating Limited Partnerships"). 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 II Limited Partnership, a Delaware 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 II Assignor Corp., a Delaware corporation which is now wholly-owned by John P. Manning.

Pursuant to the Securities Act of 1933, the Partnership filed a Form S-11
Registration Statement with the Securities and Exchange Commission, effective
October 25, 1989, 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
20,000,000 BACs at $10 per BAC for sale to the public in six series.  The
Partnership sold 1,036,100 of Series 7 BACs, 4,178,029 of Series 9 BACs,
2,428,925 of Series 10 BACs, 2,489,599 of Series 11 BACs, 2,972,795 of Series
12 BACs, and 5,574,290 of Series 14 BACs. The Partnership issued the
last BACs in Series 14 on January 27, 1992.  This concluded the Public
Offering of the Partnership.

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements included herein as of September 30, 2001
and for the three and six months then ended have been prepared by the Partnership, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission.  No BACs with respect to Series 8 and Series 13 were offered.  The Partnership accounts for its investments in Operating Partnerships using the equity method, whereby the partnership adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.





Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO FINANCIAL STATEMENTS (CONTINUED)



September 30, 2001

(Unaudited)

NOTE - B ACCOUNTING AND FINANCIAL REPORTING POLICIES - CONTINUED

Costs incurred by the Partnership in acquiring the investments in 
Operating Partnerships are capitalized to the investment account.  The 
Partnership's accounting and financial reporting policies are in conformity with generally accepted accounting principles and include adjustments in interim periods considered necessary for a fair presentation of the results of 
operations.  Such adjustments are of a normal recurring nature.  Certain 
information and footnote disclosures normally included in financial statements 
prepared in accordance with generally accepted accounting principles have been 
condensed or omitted pursuant  to such rules and regulations.  It is suggested 
that these  condensed financial statements be read in conjunction with the
financial statements and the notes thereto included in the Partnership Annual
Report on Form 10-K.

On July 1, 1995, the Partnership began amortizing unallocated acquisition
costs over 330 months from April 1, 1995.  As of September 30, 2001, the
Partnership has accumulated unallocated acquisition amortization totaling
$315,650. The breakdown of accumulated unallocated acquisition amortization
within the Partnership as of september 30, 2001 for Series 9, Series 10,
Series 11, Series 12, and Series 14 is $5,654, $22,369, $11,338, $86,559, and
$189,730, respectively.



NOTE C - RELATED PARTY TRANSACTIONS

The Partnership has entered into several transactions with various affiliates of the general partner, including Boston Capital Hoildings, LP., and Boston Capital Asset Management Limited Partnership as follows:

An annual partnership management fee based on .5 percent of the aggregate
cost of all apartment complexes owned by the Operating Partnerships has been
accrued to Boston Capital Asset Management Limited Partnership.  The 
partnership management fee accrued for the quarters ended September 30, 2001 and 2000 are as follows:



|          | 2001        | 2000       
|--------- | ----------- | -----------
|Series 7  | $    24,098 | $    28,287
|Series 9  | 140,357     | 143,946    
|Series 10 | 88,878      | 88,878     
|Series 11 | 81,420      | 81,420     
|Series 12 | 95,817      | 95,817     
|Series 14 | 189,135     | 189,135    
|          |             |            
|          | $   619,705 | $   627,483















Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO FINANCIAL STATEMENTS (CONTINUED)

September 30, 2001

(Unaudited)

Accounts payable - affiliates at September 30, 2001 and 2000 represents
accrued general and administrative expenses, partnership management fees,
and advances from an affiliate of the general partner, which are payable to
Boston Capital Holdings, LP., and Boston Capital Asset Management Limited
Partnership.

As of September 30, 2001, an affiliate of the general partner advanced a
total of $397,216 to the Partnership to pay certain operating expenses and 
make advances and/or loans to Operating Partnerships.  Below is a table that breaks down the advances, by series as of September 30, 2001.



|          | 2001    
|--------- | --------
|Series 7  | $157,047
|Series 9  | 4,959   
|Series 12 | 62,550  
|Series 14 | 172,660 
|          |         
|          | $397,216



These advances are included in Accounts payable-affiliates.  These advances, and any additional advances, will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the Partnership's interests in Operating Partnerships.









Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO FINANCIAL STATEMENTS (CONTINUED)  
September 30, 2001

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING LIMITED PARTNERSHIPS

At September 30, 2001 and 2000 the Partnership had limited partnership
interests in 307 and 309, respectively in Operating Partnerships which own apartment complexes. The number of Operating Partnerships in which the Partnership had limited partnership interests at September 30, 2001 and 2000 by series is as follows:



|          | 2001 | 2000
|--------- | ---- | ----
|Series 7  | 14   | 15  
|Series 9  | 54   | 55  
|Series 10 | 45   | 45  
|Series 11 | 40   | 40  
|Series 12 | 53   | 53  
|Series 14 | 101  | 101 
|          |      |     
|          | 307  | 309 
|          |      |     



Under the terms of the Partnership's investment in each Operating
Partnership, the Partnership is required to make capital contributions to the
Operating Partnerships.  These contributions are payable in installments over
several years upon each Operating Partnership achieving specified levels of
construction and/or operations.

The contributions payable at September 30, 2001 and 2000 by series are as
follows:



|          | 2001     | 2000    
|--------- | -------- | --------
|Series 7  | $      - | $      -
|Series 9  | -        | -       
|Series 10 | -        | -       
|Series 11 | 22,528   | 22,528  
|Series 12 | 11,405   | 11,405  
|Series 14 | 227,170  | 227,170 
|          |          |         
|          | $261,103 | $261,103
|          |          |         



The Partnership's fiscal year ends March 31 of each year, while all the

Operating Partnerships' fiscal years are the calendar year. Pursuant to the provisions of each Operating Partnership Agreement, financial results for each of the Operating Partnerships are provided to the Partnership within 45 days after the close of each Operating Partnership's quarterly period Accordingly, he current financial results available for the Operating Partnerships are for the six months ended June 30, 2001.













Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO FINANCIAL STATEMENTS

September 30, 2001

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,

(Unaudited)

Series7



|         | 2001                                                                        | 2000        
|-------- | --------------------------------------------------------------------------- | ------------
|         |                                                                             |             
|Revenues |                                                                             |             
|         | Rental                                                                      | $  1,109,126
|         | Interest and other                                                          | 94,530      
|         | 1,203,656                                                                   | 1,091,490   
|         |                                                                             |             
|Expenses |                                                                             |             
|         | Interest                                                                    | 453,609     
|         | Depreciation and amortization                                               | 351,054     
|         | Operating expenses                                                          | 753,374     
|         | 1,558,037                                                                   | 1,438,166   
|         |                                                                             |             
|NET LOSS | $(354,381)                                                                  | $(346,676)  
|         |                                                                             |             
|         | Net loss allocated to Boston Capital Tax Credit Fund II Limited
Partnership | $(102,990)  
|         |                                                                             |             
|         |                                                                             |             
|         | Net loss allocated to other Partners                                        | $(3,545)    
|         |                                                                             |             
|         | Net loss suspended                                                          | $(247,846)  





The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.









Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series9



|         | 2001                                                                         | 2000        
|-------- | ---------------------------------------------------------------------------- | ------------
|         |                                                                              |             
|Revenues |                                                                              |             
|         | Rental                                                                       | $  5,268,821
|         | Interest and other                                                           | 222,180     
|         | 5,491,001                                                                    | 5,428,713   
|         |                                                                              |             
|Expenses |                                                                              |             
|         | Interest                                                                     | 1,558,654   
|         | Depreciation and amortization                                                | 1,767,754   
|         | Operating expenses                                                           | 3,481,844   
|         | 6,808,252                                                                    | 6,579,182   
|         |                                                                              |             
|NET LOSS | $(1,317,251)                                                                 | $(1,150,469)
|         |                                                                              |             
|         | Net loss allocated to Boston Capital Tax Credit Fund 
II Limited Partnership | $(616,244)  
|         |                                                                              |             
|         |                                                                              |             
|         | Net loss allocated to other Partners                                         | $(13,172)   
|         |                                                                              |             
|         | Net loss suspended                                                           | $(687,835)  





The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.











Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 10

|         | 2001                                                                         | 2000        
|-------- | ---------------------------------------------------------------------------- | ------------
|         |                                                                              |             
|Revenues |                                                                              |             
|         | Rental                                                                       | $  3,905,371
|         | Interest and other                                                           | 232,250     
|         | 4,137,621                                                                    | 4,033,595   
|         |                                                                              |             
|Expenses |                                                                              |             
|         | Interest                                                                     | 945,782     
|         | Depreciation and amortization                                                | 1,151,507   
|         | Operating expenses                                                           | 2,532,518   
|         | 4,629,807                                                                    | 4,621,375   
|         |                                                                              |             
|NET LOSS | $(492,186)                                                                   | $(587,780)  
|         |                                                                              |             
|         | Net loss allocated to Boston Capital Tax Credit Fund 
II Limited Partnership | $(196,048)  
|         |                                                                              |             
|         |                                                                              |             
|         | Net loss allocated to other Partners                                         | $(4,922)    
|         |                                                                              |             
|         | Net loss suspended                                                           | $(291,216)  



The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.





































Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 11



|         | 2001                                                                         | 2000        
|-------- | ---------------------------------------------------------------------------- | ------------
|         |                                                                              |             
|Revenues |                                                                              |             
|         | Rental                                                                       | $  3,259,947
|         | Interest and other                                                           | 305,624     
|         | 3,565,571                                                                    | 3,409,544   
|         |                                                                              |             
|Expenses |                                                                              |             
|         | Interest                                                                     | 943,569     
|         | Depreciation and amortization                                                | 1,199,801   
|         | Operating expenses                                                           | 2,288,990   
|         | 4,432,360                                                                    | 4,303,805   
|         |                                                                              |             
|NET LOSS | $(866,789)                                                                   | $(894,261)  
|         |                                                                              |             
|         | Net loss allocated to Boston Capital Tax Credit Fund 
II Limited Partnership | $(425,777)  
|         |                                                                              |             
|         |                                                                              |             
|         | Net loss allocated to other Partners                                         | $(8,668)    
|         |                                                                              |             
|         | Netloss suspended                                                            | $(432,344)  







The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.











Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 12

|         | 2001                                                                         | 2000        
|-------- | ---------------------------------------------------------------------------- | ------------
|         |                                                                              |             
|Revenues |                                                                              |             
|         | Rental                                                                       | $  7,815,314
|         | Interest and other                                                           | 408,835     
|         | 4,096,786                                                                    | 3,771,079   
|         |                                                                              |             
|Expenses |                                                                              |             
|         | Interest                                                                     | 1,002,392   
|         | Depreciation and amortization                                                | 1,236,100   
|         | Operating expenses                                                           | 2,755,025   
|         | 4,993,517                                                                    | 4,654,194   
|         |                                                                              |             
|NET LOSS | $(896,731)                                                                   | $(883,115)  
|         |                                                                              |             
|         | Net loss allocated to Boston Capital Tax Credit Fund 
II Limited Partnership | $(588,414)  
|         |                                                                              |             
|         |                                                                              |             
|         | Net loss allocated to other Partners                                         | $(8,967)    
|         |                                                                              |             
|         | Net loss suspended                                                           | $(299,350)  







The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.

































Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 14

|         | 2001                                                                         | 2000        
|-------- | ---------------------------------------------------------------------------- | ------------
|         |                                                                              |             
|Revenues |                                                                              |             
|         | Rental                                                                       | $  7,815,314
|         | Interest and other                                                           | 408,835     
|         | 8,224,149                                                                    | 8,008,669   
|         |                                                                              |             
|Expenses |                                                                              |             
|         | Interest                                                                     | 2,202,936   
|         | Depreciation and amortization                                                | 2,543,108   
|         | Operating expenses                                                           | 4,748,264   
|         | 9,494,308                                                                    | 9,498,748   
|         |                                                                              |             
|NET LOSS | $(1,270,159)                                                                 | $(1,490,079)
|         |                                                                              |             
|         | Net loss allocated to Boston Capital Tax Credit Fund 
II Limited Partnership | $(854,975)  
|         |                                                                              |             
|         |                                                                              |             
|         | Net loss allocated to other Partners                                         | $(12,702)   
|         |                                                                              |             
|         | Net loss suspended                                                           | $(402,482)  







The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.







Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 30, 2001
(Unaudited)

NOTE E - TAXABLE LOSS

The taxable loss for the fiscal year ended March 31, 2002 is expected to differ from its loss for financial reporting purposes. This is primarily due to accounting differences in depreciation incurred by the Operating Partnerships and also differences between the equity method of accounting and the IRS accounting methods. No 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 partners and assignees individually.























































































Item 2.   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 unpaid as of September 30, 2001 or on working capital reserves
and (ii) cash distributions from operations of the Operating Partnerships in
which the Partnership has invested in.  These sources of liquidity, along with
the Partnerships working capital reserve, are available to meet the
obligations of the Partnership.  The Partnership does not anticipate
significant cash distributions from operations of the Operating Partnerships. 
The Partnership currently is accruing the annual partnership management fee to
enable each series to meet current and future third party obligations.
Pursuant to the Partnership Agreement, such liabilities will be deferred until
the Partnership receives sales or refinancing proceeds from Operating
Partnerships, and at that time proceeds from such sales or refinancing will be
used to satisfy such liabilities.  The Partnership anticipates that there
will be sufficient cash to meet future third party obligations.

The Partnership has recognized other income as of September 30, 2001 in the amount of $4,403. This total represents distributions received from Operating 
Partnerships which the Partnership normally records as a decrease in the 
Investment in Operating Partnerships. Due to the equity method of accounting, 
the Partnership has recorded these distributions as other income.

The Partnership has recorded $451,743 as payable to affiliates, which 
represents advances to pay certain third party operating expenses,advances and/or loans to Operating Partnerships, and accrued overhead 
allocations.  The breakout between series is: $172,218 in Series 7, $4,959 in 
Series 9 and none in 10, $401 in Series 11, $101,234 in Series 12, and $172,660 in Series 14.  These and any future advances or accruals will be paid, without interest, from available cash flow, reporting fees, or proceeds of sales or refinancing of the Partnership's interest in Operating Partnerships.

Capital Resources

The Partnership offered BACs in a Public offering declared effective by the
Securities and Exchange Commission on October 25, 1989.  The Partnership
received and accepted subscriptions for $186,337,017 representing 18,679,738
BACs from investors admitted as BAC Holders in Series 7 through Series 14
of the Partnership.









Capital Resources (continued)

As of September 30, 2001 the Partnership had $728,874 in remaining net 
offering proceeds.  Below is a table, which provides, by series, the equity 
raised, number of BAC's sold, final date BAC's were offered, number of 
properties invested in, and remaining proceeds. All capital contributions have 
been paid by Series 7,9 and 10; proceeds remaining listed for these series 
represent current cash balance.



|Series | Equity       | BAC's      | Final Close Date | Number of
Properties | Proceeds
Remaining
|------ | ------------ | ---------- | ---------------- | -------------------- | ------------------
|7      | $ 10,361,000 | 1,036,100  | 12/29/89         | 14                   | $  4,506          
|9      | 41,574,018   | 4,178,029  | 05/04/90         | 54                   | 335,722           
|10     | 24,288,997   | 2,428,925  | 08/24/90         | 45                   | 127,543           
|11     | 24,735,002   | 2,489,599  | 12/27/90         | 40                   | 22,528            
|12     | 29,710,003   | 2,972,795  | 04/30/91         | 53                   | 11,405            
|14     | 55,728,997   | 5,574,290  | 01/27/92         | 101                  | 227,170           
|       |              |            |                  |                      |                   
|       | $186,398,017 | 18,679,738 |                  | 307                  | $728,874          
|       |              |            |                  |                      |                   



(Series 8)  No BAC's with respect to Series 8 were offered.

(Series 13)  No BAC's with respect to Series 13 were offered.















































Results of Operations

As of September 30, 2001 and 2000 the Partnership held limited partnership
interests in 307 and 309, respectively in Operating Partnerships.  The decrease in the number of operating partnerships is the result of the removal of one operating partnership in which both series 7 and 9 had invested. For more extensive disclosure on the removal of the operating partnership refer to the Investment Partnerships previously filed March 31, 2001 10-K 405. 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 or adequate casualty insurance on the properties.

The Partnership incurs a partnership management fee to Boston Capital
Asset Management Limited Partnership in an amount equal to 0.5% of the
aggregate cost of the apartment complexes owned by the Operating Partnerships,
less the amount of certain asset management and reporting fees paid by the
Operating Partnerships. The annual partnership management fee is currently
being accrued.  It is anticipated that all outstanding fees will be repaid
from sale or refinancing proceeds.  The partnership management fees incurred for the quarters ended September 30, 2001 and 2000 were $584,109 and
$615,801, respectively.

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.

The General Partner and its affiliate, Boston Capital Asset Management 
Limited Partnership, monitor the operations of all the properties in the 
Partnership.  The Operating Partnerships that are mentioned in the following 
discussion of each series' results of operations are being closely monitored 
so as to improve the overall results of each series' operations.

(Series 7)  As of September 30, 2001 and 2000, the average Qualified Occupancy
for the series was 100% for both years.  The series had a total of 14 
properties all of which were 100% at September 30, 2001.

For the six months being reported the series reflects a net loss from the 
Operating Partnerships of $354,381. When adjusted for depreciation, which is
a non-cash item, the Operating Partnerships reflect negative operations of 
$3,327. This is an interim period estimate; it is not necessarily indicative 
of the final year end results.

The General Partner has funded money and taken action to correct the code violations that was issued to Metropole Apartments Associated LP (Metropole Apartments) in the fourth quarter of 2000. Presently, approximately 80% of the issues have been satisfactorily addressed and the balance of the issues either continue to be evaluated or are in the process of being addressed.  Since the most serious of the code violations have already been resolved, the City of Miami is satisfied with the progress and is taking no further action at this time.  The Residential section of the property has achieved an occupancy rate

Results of Operations

of 93% and the leasing activity remains very strong.  The Investment General Partner will continue to monitor this partnership.

(Series 9)  As of September 30, 2001 and 2000, the average Qualified Occupancy
for the series was 99.7% and 99.6%, respectively. The series had a total of 54 
properties at September 30, 2001. Out of the total, 51 were at 100% Qualified 
Occupancy.

For the six months being reported the series reflects a net loss from the
Operating Partnerships of $1,317,251. When adjusted for depreciation, which is
a non-cash item, the Operating Partnerships reflect positive operations of
$450,503.  This is an interim period estimate; it is not necessarily
indicative of the final year end results.

Warrensberg Estates Limited Partnership. Located in Warrensberg, Missouri, operated significantly below breakeven in 2000 and has continued to operate below breakeven for the first nine months of 2001.  The main reason for the operating deficits is the low occupancy, which currently averages 50% for the first nine months of 2001.  The poor occupancy has been caused by the public's inaccurate perception that the property is a nursing home.  In addition, occupancy has been impacted by the lack of rental assistance and increased competition.  Current management, which took over at the beginning of 2001, is working with local civic organizations in an effort to change the image of the property.  The management company is also advertising in local newspapers and contacting churches and local senior organizations in an effort to increase occupancy.  The property has several problem tenants.  The management company is working with the police and local authorities to remove the problem tenants.  In addition, the management company has improved the tenant screening process.  Currently there are seven applications in the certification process, which would increase occupancy to 78% by the end of November if they are approved.  Payment of the management fee has been deferred in order to keep the taxes, insurance and mortgage for the property are current.

In April of 2000, School Street II Limited Partnership (School Street Apts. II) inserted Marshall School Street II, LLC. as the Operating General Partner and property management company. Since taking control, the management company has completed the capital improvements program and improved the tenant selection criteria. As a result, occupancy has increased and stabilized. During the first nine months of 2001 the averaged occupancy was 97%. The improved occupancy and tenant selection criteria increased cash flow significantly during the first nine months of 2001, but it still remains below breakeven. The Operating General Partner continues to fund any operating cash deficits. The mortgage taxes,insurance and accounts payable are current.

The Operating Partnership Glennwood Hotel Investors (Glennwood Hotel) operated with an average occupancy of 65% for the year 2000. Occupancy through the third quarter of 2001 was 62%. The area has an oversupply of affordable rental housing, including new Section 8 projects, which has negatively impacted the property.  Without significant structural improvements that are at this time physically and financially unfeasible, the property will not be able to compete effectively in the market. The management agent is presently waiving security deposits and working with the housing authority to increase the amount of rental assistance available at the property.  The Operating General

Partner continues to financially support the partnership. The Investment General Partner continues to monitor this situation.







Results of Operations-con't



(Series 10)  As of September 30, 2001 and 2000, the average Qualified
Occupancy for the series was 99.9% and 99.8%, respectively. The series had a 
total of 45 properties at September 30, 2001, Out of the total,44 were at 100%
Qualified Occupancy.

For the six months being reported the series reflects a net loss from the
Operating Partnerships of $492,186. When adjusted for depreciation which is
a non-cash item, the Operating Partnerships reflect positive operations of
$659,321.  This is an interim period estimate; it is not necessarily
indicative of the final year end results.

The 1999 and 2000 audited financial statements for Chuckatuck Square were repared assuming the partnership would continue as a Going Concern. Despite high occupancy, the property suffered from excessive bad debt expenses due to the seasonal nature of employment opportunities in the local economy. As a result, the property was delinquent in funding its replacement reserves. In January of 2000, the partnership entered a two-year workout plan with Rural Development that allowed for reduced debt service payments. The reduced debt service requirement, improved rental collection and controlled expenses have allowed the property to reduce the accounts payable from $12,383 as of December 31, 1999 to $250 as of September 30, 2001. The property currently operates above breakeven.  The Operating General Partner continues to work with Rural Development to permanently restructure the loan terms and/or extend the workout agreement as well as obtain additional rental assistance. In addition the Operating General Partner is actively seeking grant funds to be utilized for capital improvements to the property. During 2000, the operating General Partner advanced $15,707 to the partnership to help support the property.

Lawton Apartments Company Limited Partnership (Village Commons) has historically had occupancy problems which have resulted in delinquent taxes of $103,049 for the years 1998-2000.  Village Commons' occupancy problems are due to the lack of employment and the high level of affordable housing in the area.  Until the delinquent taxed are paid, the village and/or county will not be willing to discuss an abatement.  Michigan Property Tax Law changed in 2000, which now states that a foreclosure will commence if the property taxes are not paid by February 2002.  If the 1998 property taxes are not paid by February 2002, the property will go into foreclosure proceedings.  A workout plan was submitted to Rural Development and it was  rejected.  However,with the increase in occupancy to 100% as of August 31, 2001 and improved cash flow, the management company will work toward paying down the taxes and increasing the monthly replacement reserve funding until the required level is reached.

The management company (Lansing Management)of Centerville Apartments Company Limited (Hollow Apartments) has been attempting to increase the occupancy at this property.  Lansing Management believes the primary reason for low occupancy has been a lack of employment opportunities in the area and it is overbuilt with apartment communities.  The current occupancy is 96% due to aggressive outreach programs in an attempt to attract prospective tenants.  The partnership has 1997-1999 delinquent real estate taxes totaling $50,495.







Results of Operations-con't



(Series 11)  As of September 30, 2001 and 2000 the average Qualified
Occupancy for the series was 100% for both years.  The series had a 
total of 40 properties all of which were 100% at September 30, 2001.

For the six months being reported the series reflects a net loss from the 
Operating Partnerships of $866,789. When adjusted for depreciation, which is
a non-cash item, the Operating Partnerships reflect positive operations of 
$333,012.  This is an interim period estimate; it is not necessarily 
indicative of the final year end results.

In June of 2001,the Investment General Partner became aware that unauthorized distributions in excess of Rural Development's (mortgage) allowable limits were made to the Operating General Partner of Aspen Square Limited Partnership, Copper Creek Limited Partnership and Sierra Limited Partnership. These unauthorized distributions have been classified as receivables from the Operating General Partner on the partnerships audited financial statements. The Investment General Partner is actively seeking the immediate return of these funds through the Estate of the Operating General Partner. In addition, the Investment General Partner is weighing all available options to expedite the return of the unauthorized distributions.  The Investment General Partner continues to monitor and actively seek the return of unauthorized distributions.

The Operating General Partner of London Arms/Lyn Mar Limited (London Arms Apartments) commissioned a capital needs assessment during the first quarter of 2001.  Several deferred maintenance items were identified and targeted for completion.  The management company reports that this work is approximately 70% complete at this time and believes that the balance of the work will be completed within the next 90 to 120 days.  The residential section of the property has achieved an occupancy rate of 95% and the leasing activity remains very strong.  The Investment General Partner will continue to monitor this partnership.

(Series 12)  As of September 30, 2001 and 2000 the average Qualified
Occupancy for the series was 99.9% and 99.8%, respectively. The series had a 
total of 53 properties at September 30, 2001, 52 of which were at 100%
qualified occupancy.

For the six months being reported the series reflects a net loss from the
Operating Partnerships of $896,731. When adjusted for depreciation, which is
a non-cash item, the Operating Partnerships reflect positive operations of 
$339,369.  This is an interim period estimate; it is not necessarily 
indicative of the final year end results.

In June of 2001,the Investment General Partner became aware that unauthorized distributions in excess of Rural Development's (mortgage) allowable limits were made to the Operating General Partner of Cananche Creek Limited Partnership and Shawnee Ridge Limited Partnership. These unauthorized distributions have been classified as receivables from the Operating General Partner on the partnerships audited financial statements. The Investment General Partner is actively seeking the immediate return of these funds through the Estate of the Operating General Partner. In addition, the Investment General Partner is weighing all available options to expedite the return of the unauthorized distributions.  The Investment General Partner continues to monitor and actively seek the return of unauthorized distributions.









Results of Operations-con't





Union Baptist Plaza, Limited Partnership, located in Springfield, Illinois, suffers from below breakeven operations due to high operating expenses.  The 2000 audited financial statement was prepared assuming the partnership would continue as a Going Concern.  The Partnership has suffered recurring operating losses and its total liabilities exceed its total assets. The property has a history of high occupancy, however high operating expenses, particularly taxes and utilities, prevent the property from achieving breakeven operations.  Due to the lack of cash flow the 1999 and 2000 property taxes are delinquent and have accrued in the amount of $42,810 plus interest.  Although not yet delinquent it is unlikely that the partnership will have adequate cash to pay the 2001 taxes. The Operating General Partner is actively seeking to transfer its General Partner interest of this property.  Negotiations are ongoing with the Springfield Housing Authority as a potential replacement. The goal is to find a strategic partner, preferably a nonprofit organization, that is capable of operating the property more efficiently.  As part of any negotiated transfer, outstanding real estate taxes will be brought current.  In the short term, management is filing an application for a special adjustment to the rents, in the effort to increase cash flow.



On February 11, 2001, Jesup Limited Partnership (Fox Run Apartments) suffered from fire damage.  The fire resulted in a total loss of an eight unit building, which is 33% of the 24-unit property.  The insurance proceeds will cover all repairs and lost revenues except for a $2,500 deductible.  The repairs will be completed at the end of November 2001.  The partnership projects 96% occupancy by November 30, 2001.



(Series 14)  As of September 30, 2001 and 2000 the average Qualified
Occupancy for the series was 99.8% for both years. The series had a
total of 101 properties at September 30, 2001, 97 of which were at 100%
Qualified Occupancy.

For the three months being reported the series reflects a net loss from the
Operating Partnerships of $1,270,159. When adjusted for depreciation, which is
a non-cash item, the Operating Partnerships reflect positive operations of
$1,272,949.  This is an interim period estimate; it is not necessarily indicative of the final year end results.

The properties owned by Glenhaven Park Partners, A California LP (Glenhaven Estates) continues to suffer from excessive operating expenses compared to operating income. Effective October 4, 2000 San Mar Properties of Fresno, CA 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 and now is responsible for funding all future operating deficits. Occupancy decreased in the third quarter of 2001 averaging 81% for the quarter.  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 the assistance of the Investment General Partner worked with the mortgage holders to restructure the debt, however the mortgage holders were unwilling to do so.  Therefore, in an attempt to stay a relief from foreclosure, the partnership filed Chapter 11 on October 2, 2001.  The US Trustee has approved the cash collateral, which permits the partnership to remit a reduced monthly mortgage payment to the lender until January 15, 2001.  The Operating General Partner has until the January date to submit a Re-organization plan.







Results of Operations-con't



The properties owned by Haven Park Partners II, A California LP (Glenhaven Park II) continues to suffer from excessive operating expenses compared to operating income. Effective October 4, 2000 San Mar Properties of Fresno, CA 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 and now is responsible for funding all future operating deficits. 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.  The property has filed for welfare tax exemption, and is currently awaiting a decision by the state.  If granted, this will have a positive effect on tax flow.  Physical occupancy at Haven Park II was has stabilized at 98.52% through the third quarter of 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) continues to suffer from excessive operating expenses compared to operating income. Effective October 4, 2000 San Mar Properties of Fresno, CA 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 and now is responsible for funding all future operating deficits. It is anticipated that a localized management and ownership presence will allow the properties to operate in a more cost-effective manner. The property has filed for welfare tax exemption, and is currently awaiting a decision by the state.  If granted, this will have a positive effect on tax flow.  Occupancy at Both Haven Park III and Haven Park IV has stabilized as a result of the efforts of the new Management Company.  As of September 30, 2001 physical occupancy at Haven Park III was 100%.

Woodfield Commons Limited Partnership (Rainbow Commons Apartments) received 60-Day letters issued by the IRS stating that the Operating Partnership had not met certain IRC Section 42 requirements for the tax years 1993-1998.  The 60-Day letters, were the result of an IRS audit of the Operating Partnership's  tenant files.  As a result of their audit, the IRS has proposed an adjustment that would disallow 100% of past and future  tax credits.  The adjustment will also include interest and penalties on the past tax credit being disallowed. The Investment General Partner and its counsel are working with the Operating General Partner and its counsel to negotiate a more favorable settlement.



As a result of the Investment General Partner's expectation that certain past and future credits will be disallowed,  the auditor's have included a contingency footnote in the annual financial statement (Note H) which is a part of the most recently filed 10-K dated March 31, 2001.





































Results of Operations-con't



The occupancy for Summer Lane Limited Partnership (Summer Lane Apartments) averaged 85% through September 30, 2001.  The low occupancy is primarily due to lack of rental assistance at this property.  As a result, high payable balances and negative cash flow are ongoing problems at this property. As of September 30, 2001, the trade payables balance was $44,723.  The majority of the payables are owed to Boyd Mgmt for payroll, health insurance and management fees.  For the remainder of the payables, Boyd Management is working with vendors to delay payments.  The real estate taxes are current but were paid by Rural Development.  There were no deposits made to the replacement reserve account in 2000.  Currently, there is no workout agreement in place with Rural Development.

This partnership needs a rehabilitation loan and more rental assistance in order to make it viable; however, Rural Development does not have either to allocate to this partnership this year.  Boyd Management will continue to work with Rural Development to determine other alternatives to improve the operations at Summer Lane Apartments.











































































Table_of_Contents





PART II - OTHER INFORMATION





Item 1.   Legal Proceedings

None

Item 2.   Changes in Securities

None

Item 3.   Defaults upon Senior Securities

None

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

None

Item 5.   Other Information

None

Item 6.   Exhibits and Reports on Form 8-K

(a)  Exhibits

None
          (b) Reports on Form 8-K

None



















Table_of_Contents















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 II Limited Partnership
|----------------------- | -----------------------------------------------------
|                        | By:                                                  
|                        |                                                      
|                        | By:                                                  
|                        |                                                      
|                        | By:                                                  
|                        |                                                      
|Date: November 20, 2001 | By:                                                  
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