August 14, 2003




Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC  20549

Re:    Boston Financial Tax Credit Fund VII, A Limited Partnership
       Report on Form 10-QSB for the Quarter Ended June 30, 2003
       File Number 0-24584


Dear Sir/Madam:

Pursuant to the requirements of Section 15(d) of the Securities Exchange Act of
1934, filed herewith one copy of subject report.


Very truly yours,


/s/Stephen Guilmette
Stephen Guilmette
Assistant Controller





TC7-Q1.DOC


<PAGE>


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB


(Mark One)

[ X ]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

For the quarterly period ended                 June 30, 2003
                                       OR

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

For the transition period from            to


                         Commission file number 0-24584

      Boston Financial Tax Credit Fund VII, A Limited Partnership
         (Exact name of registrant as specified in its charter)


                   Massachusetts                          04-3166203
      (State or other jurisdiction of      (I.R.S. Employer Identification No.)
       incorporation or organization)


   101 Arch Street, Boston, Massachusetts                 02110-1106
  (Address of principal executive offices)                (Zip Code)


Registrant's telephone number, including area code           (617) 439-3911

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


<PAGE>


           BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP
                                TABLE OF CONTENTS


<TABLE>
<CAPTION>


PART I - FINANCIAL INFORMATION                                                        Page No.

Item 1.   Financial Statements

<S>                                                                                       <C>
          Balance Sheet (Unaudited) - June 30, 2003                                       1

          Statements of Operations (Unaudited) -
               For the Three Months Ended June 30, 2003 and 2002                          2

          Statement of Changes in Partners' Equity (Deficiency)
               (Unaudited) - For the Three Months Ended June 30, 2003                     3

          Statements of Cash Flows (Unaudited) -
               For the Three Months Ended June 30, 2003 and 2002                          4

          Notes to the Financial Statements (Unaudited)                                   5

Item 2.   Management's Discussion and Analysis of
               Financial Condition and Results of Operations                              7

Item 3.    Controls and Procedures                                                       11

PART II - OTHER INFORMATION

Items 1-6                                                                                12

SIGNATURE                                                                                13


</TABLE>


<PAGE>


           BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP


                                  BALANCE SHEET
                                  June 30, 2003
                                   (Unaudited)
<TABLE>
<CAPTION>


Assets

<S>                                                                                       <C>
Cash and cash equivalents                                                                 $    1,279,893
Restricted cash                                                                                  243,995
Marketable securities, at fair value                                                             629,004
Investments in Local Limited Partnerships (Note 1)                                            14,516,188
Other assets                                                                                       8,029
     Total Assets                                                                         $   16,677,109

Liabilities and Partners' Equity

Due to affiliates                                                                         $      106,188
Accrued expenses                                                                                  28,736
     Total Liabilities                                                                           134,924

Commitments (Note 2)

General, Initial and Investor Limited Partners' Equity                                        16,526,744
Net unrealized gains on marketable securities                                                     15,441
     Total Partners' Equity                                                                   16,542,185
     Total Liabilities and Partners' Equity                                               $   16,677,109

</TABLE>

The accompanying notes are an integral part of these financial statements.

<PAGE>


           BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP

                            STATEMENTS OF OPERATIONS
                For the Three Months Ended June 30, 2003 and 2002
                                   (Unaudited)


<TABLE>
<CAPTION>

                                                                                       2003             2002
Revenue:
<S>                                                                               <C>              <C>
   Investment                                                                     $      11,813    $      20,915
   Other                                                                                 30,000           32,570
Total Revenue                                                                            41,813           53,485

Expenses:
   Asset management fees, affiliate                                                      81,183           79,280
   Provision for valuation of advances to
     Local Limited Partnerships                                                         140,938          123,436
   General and administrative expenses (includes
     reimbursements to an affiliate in the amounts of
     $30,199 and  $37,916, in 2003 and 2002, respectively)                               61,358           64,961
   Amortization                                                                           7,656            7,656
       Total Expenses                                                                   291,135          275,333

Loss before equity in losses of Local Limited Partnerships                             (249,322)        (221,848)

Equity in losses of  Local Limited Partnerships (Note 1)                               (536,148)        (668,982)

Net Loss                                                                          $    (785,470)   $    (890,830)

Net Loss allocated:
   General Partners                                                               $      (7,855)   $      (8,908)
   Limited Partners                                                                    (777,615)        (881,922)
                                                                                  $    (785,470)   $    (890,830)
Net Loss per Limited Partner Unit
   (50,930 Units)                                                                 $      (15.27)   $     (17.32)

</TABLE>

The accompanying notes are an integral part of these financial statements.

<PAGE>

          BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP

              STATEMENT OF CHANGES IN PARTNERS' EQUITY (DEFICIENCY)
                    For the Three Months Ended June 30, 2003
                                   (Unaudited)

<TABLE>
<CAPTION>


                                                       Initial       Investor           Net
                                       General         Limited        Limited       Unrealized
                                       Partners        Partner       Partners         Gains            Total

<S>                                   <C>            <C>          <C>               <C>            <C>
Balance at March 31, 2003             $  (271,199)   $   5,000    $   17,578,413    $    20,615    $  17,332,829

Comprehensive Loss:
   Change in net unrealized gains
     on marketable securities
     available for sale                         -            -                 -         (5,174)          (5,174)
   Net Loss                                (7,855)           -          (777,615)             -         (785,470)
Comprehensive Loss                         (7,855)           -          (777,615)        (5,174)        (790,644)

Balance at June 30, 2003              $  (279,054)   $   5,000    $   16,800,798    $    15,441    $  16,542,185

</TABLE>

The accompanying notes are an integral part of these financial statements.

<PAGE>


                            STATEMENTS OF CASH FLOWS
                For the Three Months Ended June 30, 2003 and 2002
                                   (Unaudited)


<TABLE>
<CAPTION>

                                                                                      2003               2002

<S>                                                                               <C>              <C>
Net cash used for operating activities                                            $    (233,157)   $    (176,874)

Net cash provided by (used for) investing activities                                    (22,616)         272,732
Net increase (decrease) in cash and cash equivalents                                   (255,773)          95,858

Cash and cash equivalents, beginning                                                  1,535,666        1,193,303

Cash and cash equivalents, ending                                                 $   1,279,893    $   1,289,161


</TABLE>


The accompanying notes are an integral part of these financial statements.

<PAGE>


          BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP


                        NOTES TO THE FINANCIAL STATEMENTS
                                   (Unaudited)


The unaudited financial statements presented herein have been prepared in
accordance with the instructions to Form 10-QSB and do not include all of the
information and note disclosures required by accounting principles generally
accepted in the United States of America. These statements should be read in
conjunction with the financial statements and notes thereto included with the
Fund's Form 10-KSB for the year ended March 31, 2003. In the opinion of the
Managing General Partner, these financial statements include all adjustments,
consisting only of normal recurring adjustments, necessary to present fairly the
Fund's financial position and results of operations. The results of operations
for the period may not be indicative of the results to be expected for the year.

The Managing General Partner of the Fund has elected to report results of the
Local Limited Partnerships in which the Fund has a limited partnership interest
on a 90 day lag basis because the Local Limited Partnerships report their
results on a calendar year basis. Accordingly, the financial information about
the Local Limited Partnerships that is included in the accompanying financial
statements is as of March 31, 2003 and 2002.

1.   Investments in Local Limited Partnerships

The Fund has limited partnership interests in nineteen Local Limited
Partnerships which were organized for the purpose of owning and operating
multi-family housing complexes, all of which are government-assisted. Upon
dissolution of the Local Limited Partnerships, proceeds will be distributed
according to the respective Local Limited Partnership agreements.

The following is a summary of investments in Local Limited Partnerships at June
30, 2003:
<TABLE>
<CAPTION>

Capital contributions and advances paid to Local Limited
     Partnerships and purchase price paid to withdrawing
<S>                                                                                            <C>
     partners of Local Limited Partnerships                                                    $  40,192,863

Cumulative equity in losses of Local Limited Partnerships
     (excluding cumulative unrecognized losses of $6,759,070)                                    (24,441,001)
Cumulative cash distributions received from Local Limited Partnerships                            (1,765,848)

Investments in Local Limited Partnerships before adjustments                                      13,986,014

Excess investment costs over the underlying assets acquired:

     Acquisition fees and expenses                                                                 1,252,338

     Cumulative amortization of acquisition fees and expenses                                       (287,171)

Investments in Local Limited Partnerships before reserve for valuation                            14,951,181

Reserve for valuation of investments in Local Limited Partnerships                                  (434,993)

Investments in Local Limited Partnerships                                                      $  14,516,188

</TABLE>

For the period ended June 30, 2003, the Fund advanced $140,938 to two of the
Local Limited Partnerships, all of which was reserved. The Fund has recorded a
reserve for valuation for its investments in certain Local Limited Partnerships
in order to appropriately reflect the estimated net realizable value of these
investments.



<PAGE>

         BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP

                  NOTES TO THE FINANCIAL STATEMENTS (continued)
                                   (Unaudited)



1. Investments in Local Limited Partnerships (continued)

The Fund's share of the net losses of the Local Limited Partnerships for the
three months ended June 30, 2003 is $697,287. For the three months ended June
30, 2003, the Fund has not recognized $161,139 of equity in losses relating to
certain Local Limited Partnerships in which cumulative equity in losses and
distributions exceeded its total investments in these Local Limited
Partnerships.

2.   Commitments

At June 30, 2003, the Fund has committed to make future capital contributions
and pay future purchase price installments on its investments in Local Limited
Partnerships. These future payments are contingent upon the achievement of
certain criteria as set forth in the Local Limited Partnership agreements and
total approximately $406,000. Of this amount, the Fund has set aside
approximately $148,000 in escrow for future capital contributions to one Local
Limited Partnership.


<PAGE>
          BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


Certain matters discussed herein constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. The Fund
intends such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements and is including this statement for
purposes of complying with these safe harbor provisions. Although the Fund
believes the forward-looking statements are based on reasonable assumptions, the
Fund can give no assurance that its expectations will be attained. Actual
results and timing of certain events could differ materially from those
projected in or contemplated by the forward-looking statements due to a number
of factors, including, without limitation, general economic and real estate
conditions and interest rates.

Accounting Policies

The Fund's accounting polices include those that relate to its recognition of
investments in Local Limited Partnerships using the equity method of accounting.
The Fund's policy is as follows:

The Fund accounts for its investments in Local Limited Partnerships using the
equity method of accounting because the Fund does not have control over the
major operating and financial policies of the Local Limited Partnerships in
which it invests. Under the equity method, the investment is carried at cost,
adjusted for the Fund's share of net income or loss and for cash distributions
from the Local Limited Partnerships; equity in income or loss of the Local
Limited Partnerships is included currently in the Fund's operations. Under the
equity method, a Local Limited Partnership investment will not be carried below
zero. To the extent that equity in losses are incurred when the Fund's carrying
value of the respective Local Limited Partnership has been reduced to a zero
balance, the losses will be suspended and offset against future income. Income
from Fund investments where cumulative equity in losses plus cumulative
distributions have exceeded the total investment in Local Limited Partnerships
will not be recorded until all of the related unrecorded losses have been
offset. To the extent that a Local Limited Partnership with a carrying value of
zero distributes cash to the Fund, that distribution is recorded as income on
the books of the Fund and is included in "Other Revenue" in the accompanying
financial statements.

The Fund has implemented policies and practices for assessing potential
impairment of its investments in Local Limited Partnerships. Real estate experts
analyze the investments to determine if impairment indicators exist. If so, the
carrying value is compared to the undiscounted future cash flows expected to be
derived from the asset. If a significant impairment in carrying value exists, a
provision to write down the asset to fair value will be recorded in the Fund's
financial statements.

Liquidity and Capital Resources

At June 30, 2003, the Fund had cash and cash equivalents of $1,279,893, compared
with $1,535,666 at March 31, 2003. This decrease is primarily due to advances
made to certain Local Limited Partnerships during the quarter ended June 30,
2003.

The Managing General Partner initially designated 5% of the Gross Proceeds as
Reserves, as defined in the Partnership Agreement. The Reserves were established
to be used for working capital of the Fund and contingencies related to the
ownership of Local Limited Partnership interests. The Managing General Partner
may increase or decrease such Reserves from time to time, as it deems
appropriate. At June 30, 2003, approximately $1,651,000 of cash, cash
equivalents and marketable securities has been designated as Reserves.

To date, professional fees relating to various Property issues totaling
approximately $142,000 have been paid from Reserves. In the event a Local
Limited Partnership encounters operating difficulties requiring additional
funds, the Fund's management might deem it in its best interest to voluntarily
provide such funds in order to protect its investment. As of June 30, 2003, the
Fund has advanced approximately $435,000 to Local Limited Partnerships to fund
operating deficits.


<PAGE>
           BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
            FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)


Liquidity and Capital Resources (continued)

The Managing General Partner believes that the investment income earned on the
Reserves, along with cash distributions received from Local Limited
Partnerships, to the extent available, will be sufficient to fund the Fund's
ongoing operations. Reserves may be used to fund operating deficits, if the
Managing General Partner deems funding appropriate. To date, the Fund has used
approximately $318,000 of Reserves to fund operations. If Reserves are not
adequate to cover the Fund's operations, the Fund will seek other financing
sources including, but not limited to, the deferral of Asset Management Fees
paid to an affiliate of the Managing General Partner or working with Local
Limited Partnerships to increase cash distributions.


At June 30, 2003, the Fund has committed to make future capital contributions
and to pay future purchase price installments on its investments in Local
Limited Partnerships. These future payments are contingent upon the achievement
of certain criteria as set forth in the Local Limited Partnership Agreements and
total approximately $258,000.

Since the Fund invests as a limited partner, the Fund has no contractual duty to
provide additional funds to Local Limited Partnerships beyond its specified
investment. Thus, as of June 30, 2003, the Fund had no contractual or other
obligation to any Local Limited Partnership which had not been paid or provided
for, except as described above.

Cash Distributions

No cash distributions were made during the three months ended June 30, 2003.

Results of Operations

The Fund's results of operations for the three months ended June 30, 2003
resulted in a net loss of $785,470, as compared to a net loss of $890,830 for
the same period in 2002. The decrease in net loss is primary attributable to a
decreases in equity in losses of Local Limited Partnerships and an increase in
provision for valuation of advances to Local Limited Partnerships due to certain
properties requiring additional operating funds.

Portfolio Update

The Fund's investment portfolio consists of limited partnership interests in
nineteen Local Limited Partnerships, each of which owns and operates a
multi-family apartment complex and each of which has generated Tax Credits.
Since inception, the Fund has generated Tax Credits of approximately $1,281 per
Limited Partner Unit. The Managing General Partner estimates that the Fund will
generate Tax Credits of approximately $132, $65 and $10 per Unit during 2003,
2004 and 2005, respectively. In the aggregate, actual and estimated Tax Credits
will enable the Fund to meet the objective specified in the Fund's prospectus.

Properties that receive low income housing Tax Credits must remain in compliance
with rent restriction and set aside requirements for at least 15 years from the
date the property is completed (the "Compliance Period"). Failure to do so would
result in the recapture of a portion of the property's Tax Credits. Between 2006
and continuing through 2010, the Compliance Period of the nineteen Properties in
which the Fund has an interest will expire. It is unlikely that the Managing
General Partner will be able to dispose of the Fund's Local Limited Partnership
interests concurrently with the expiration of each Property's Compliance Period.
The Fund shall dissolve and its affairs shall be wound up upon the disposition
of the final Local Limited Partnership interest and other assets of the Fund.
Investors will continue to be Limited Partners, receiving K-1s and quarterly and
annual reports, until the Fund is dissolved.

<PAGE>
           BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
            FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)


Property Discussions

A majority of the Properties in which the Fund has an interest have stabilized
operations and operate above break-even. A few Properties generate cash flow
deficits that the Local General Partners of those Properties fund through
project expense loans, subordinated loans or operating escrows. However, some
Properties have had persistent operating difficulties that could either: i) have
an adverse impact on the Fund's liquidity; ii) result in their foreclosure; or
iii) result in the Managing General Partner deeming it appropriate for the Fund
to dispose of its interest in the Local Limited Partnership prior to the
expiration of the Compliance Period. Also, the Managing General Partner, in the
normal course of the Fund's business, may arrange for the future disposition of
its interest in certain Local Limited Partnerships. The following Property
discussions focus only on such Properties.

Operations at Los Claveles II, located in Trujillio Alto, Puerto Rico, have
recently improved. The sister property to the Property ("Tower I"), which is not
owned by the Fund, remained vacant for 18 months due to subsidy issues, making
it very difficult to repair and occupy units at the subject. In March 2002, the
subsidy issue was resolved after a long negotiating period with the United
States Department of Housing and Urban Development. Since resolution of the
subsidy issue at Tower I, occupancy at the Property has improved substantially.
Despite these improvements, significant risks to the Fund remain. The Property
continues to be in default of its first mortgage, which was restructured as part
of a workout in 1999. Debt service payments were supposed to commence in
November 2000 but were delayed until July 2003 because turnaround efforts at the
Property were stalled for almost two years due to subsidy issues at Tower I.
Although the loan is technically in default, the workout agreement contains a
clause that obligates the lender to renegotiate the terms of the workout
agreement in the event that the terms of the agreement are not met.
Unfortunately, the negotiations have not yet concluded. Operating deficits are
funded from the capital improvement reserve set up as part of the 1999 workout
of the Property, which means that there is less money to conduct capital repairs
as had been contemplated in the 1999 workout agreement. The Managing General
Partner, concerned about the Property's long-term viability, signed an agreement
with the Local General Partner whereby the Fund would pay its remaining capital
commitment of $350,000 and release Fund Reserves of approximately $50,000 in
exchange for an exit option which would allow the Fund to put its interest to
the Local General Partner at any time for $10,000. In addition, the Local
General Partner has the right, subsequent to the expiration of the Compliance
Period on December 31, 2008, to call the Fund's interest for a price of $10,000.
As part of the agreement, the Local General Partner is providing an operating
guarantee in the form of a Local General Partner indemnification of any loss of
Fund Tax Credits or any recapture of Tax Credits through the end of the
Compliance Period. This agreement was executed on December 20, 2002.

As previously reported, Grand Boulevard Renaissance, located in Chicago,
Illinois, has been experiencing operating difficulties and has difficulties in
achieving debt service coverage. As a result, during 2001, the Local General
Partner negotiated with the lender to reduce the interest rate on the current
mortgage. However, the Property still struggles with a generally low quality
tenant base, and as a result, rent collection and eviction issues continue to
hamper operations. Currently, the Local General Partner is negotiating a
restructuring of the second mortgage loan on the Property, which is held by the
Illinois Housing Development Authority ("IHDA"). The Managing General Partner's
consent will be needed before the Local General Partner can agree to a workout
with IHDA. The Property remains current on its loan obligations.

Operations at Oak Ridge, located in Macon, Georgia, continue to suffer primarily
due to low occupancy and rental rates. The low occupancy is generally
attributable to a lack of public transportation near the site. Although net
operating income increased significantly during each of the past two years, the
Property's net operating income is insufficient to meet debt service payments.
The Local General Partner has advanced the funds necessary for the Property to
stay current on its loan obligations. The Managing General Partner will continue
to work closely with the management agent and Local General Partner to monitor
Property operations as well as to explore a potential loan workout with the
lender.

<PAGE>
 BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
            FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)


Property Discussions (continued)

Although operations at Palo Verde II, located in Henderson, Nevada, remain
strong, the Local General Partner filed for bankruptcy protection and refused to
send the Fund its priority cash distributions, representing a default under the
terms of the Local Limited Partnership Agreement. An affiliate of the Managing
General Partner has assumed the Local General Partner interest and is seeking an
acceptable replacement Local General Partner.


<PAGE>
           BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP

                             CONTROLS AND PROCEDURES



Controls and Procedures

Based on the Fund's evaluation as of the end of the period covered by this
report, the Fund's director has concluded that the Fund's disclosure controls
and procedures are effective to ensure that information required to be disclosed
in the reports that the Fund files or submits under the Securities Exchange Act
of 1934 is recorded, processed, summarized and reported within the time periods
specified in the Securities and Exchange Commission's rules and forms.

There have been no significant changes in the Fund's internal controls or in
other factors that could significantly affect those controls subsequent to the
date of their evaluation.


<PAGE>

           BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP




PART II       OTHER INFORMATION

Items 1-5     Not applicable

Item 6        Exhibits and reports on Form 8-K

(a)      Exhibits

         31.1     Certification of Jenny Netzer pursuant to section 302 of the
                  Sarbanes-Oxley Act of 2002

         32.1     Certification of Jenny Netzer pursuant to section 906 of the
                  Sarbanes-Oxley Act of 2002

              (b) Reports on Form 8-K - No reports on Form 8-K were filed during
                  the quarter ended June 30, 2003.



<PAGE>
 BOSTON FINANCIAL TAX CREDIT FUND VII, A LIMITED PARTNERSHIP

                                    SIGNATURE


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


DATED:  August 14,  2003            BOSTON FINANCIAL TAX CREDIT FUND VII,
                                    A LIMITED PARTNERSHIP


                                    By:   Arch Street VII, Inc.,
                                    its Managing General Partner


                                    /s/Jenny Netzer
                                    Jenny Netzer
                                    Executive Vice President
                                    MMA Financial, LLC