BOSTON CAPITAL TAX CREDIT FUND II LTD PARTNERSHIP - FORM 10-Q

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EXCEL - IDEA: XBRL DOCUMENT - BOSTON CAPITAL TAX CREDIT FUND II LTD PARTNERSHIP	Financial_Report.xls
EX-31 - BCTC II CERTIFICATION 302 - BOSTON CAPITAL TAX CREDIT FUND II LTD PARTNERSHIP	b21213cert302jpm.htm
EX-32 - BCTC II CERTIFICATION 906 - BOSTON CAPITAL TAX CREDIT FUND II LTD PARTNERSHIP	b21213cert906jpm.htm
EX-31 - BCTC II CERTIFICATION 302 - BOSTON CAPITAL TAX CREDIT FUND II LTD PARTNERSHIP	b21213cert302mnt.htm
EX-32 - BCTC II CERTIFICATION 906 - BOSTON CAPITAL TAX CREDIT FUND II LTD PARTNERSHIP	b21213cert906mnt.htm

FORM 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

(Mark One)

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

For the quarterly period ended December 31, 2013

( ) 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 0-19443

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)

Registrant's telephone number, including area code (617)624-8900

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 ý

No 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ý

No 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act (check one):

Large accelerated filer 	Accelerated filer 
Non-accelerated filer 	Smaller reporting company ý

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes 

No ý

BOSTON CAPITAL TAX CREDIT FUND II LIMITED PARTNERSHIP

QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED DECEMBER 31, 2013

TABLE OF CONTENTS

FOR THE QUARTER ENDED DECEMBER 31, 2013

Part I. Financial information

Item 1. CONDENSED FINANCIAL STATEMENTS

CONDENSED Balance Sheets 4

Condensed Balance Sheets Series 7 5

Condensed Balance Sheets Series 9 6

Condensed Balance Sheets Series 10 7

Condensed Balance Sheets Series 11 8

Condensed Balance Sheets Series 12 9

Condensed Balance Sheets Series 14 10

CONDENSED Statements of Operations three months 11

Condensed Statements of Operations Three Months Series 7 12

Condensed Statements of Operations Three Months Series 9 13

Condensed Statements of Operations Three Months Series 10 14

Condensed Statements of Operations Three Months Series 11 15

Condensed Statements of Operations Three Months Series 12 16

Condensed Statements of Operations Three Months Series 14 17

CONDENSED Statements of Operations Nine months 18

Condensed Statements of Operations Nine Months Series 7 19

Condensed Statements of Operations Nine Months Series 9 20

Condensed Statements of Operations Nine Months Series 10 21

Condensed Statements of Operations Nine Months Series 11 22

Condensed Statements of Operations Nine Months Series 12 23

Condensed Statements of Operations Nine Months Series 14 24

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT) 25

Condensed Partners' Capital (Deficit) Series 07 26

Condensed Partners' Capital (Deficit) Series 09 26

Condensed Partners' Capital (Deficit) Series 10 27

Condensed Partners' Capital (Deficit) Series 11 27

Condensed Partners' Capital (Deficit) Series 12 28

Condensed Partners' Capital (Deficit) Series 14 28

CONDENSED Statements of Cash Flows 29

Condensed Cash Flows Series 07 30

Condensed Cash Flows Series 09 31

Condensed Cash Flows Series 10 32

Condensed Cash Flows Series 11 33

Condensed Cash Flows Series 12 34

Condensed Cash Flows Series 14 35

BOSTON CAPITAL TAX CREDIT FUND II LIMITED PARTNERSHIP

QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED DECEMBER 31, 2013

TABLE OF CONTENTS (CONTINUED)

Notes to CONDENSED Financial Statements 36

Note A Organization 36

Note B Accounting and financial reporting policies 36

Note C Related Party Transactions 37

Note D Investments in operating partnerships 39

COMBINED CONDENSED summarized STATEMENTS OF OPERATIONs 41

Combined Condensed Summarized Statements of Operations Series 7 42

Combined Condensed Summarized Statements of Operations Series 9 43

Combined Condensed Summarized Statements of Operations Series 10 44

Combined Condensed Summarized Statements of Operations Series 11 45

Combined Condensed Summarized Statements of Operations Series 12 46

Combined Condensed Summarized Statements of Operations Series 14 47

Note E Taxable Loss 48

Note F Income Taxes 48

Note G Plan of Liquidation 49

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

Results of Operations 50

Liquidity 50

Capital Resources 51

Results of Operations 52

Critical Accounting Policies and Estimates 74

Item 3. Quantitative and Qualitative Disclosures About Market Risk 75

Item 4. Controls and Procedures 75

Part II Other Information 76

Item 1. Legal Proceedings 76

Item 1A. Risk Factors 76

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 76

Item 3. Defaults Upon Senior Securities 76

Item 4. Mine Safety Disclosures 76

Item 5. Other Information 76

Item 6. Exhibits 76

Signatures 77

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED BALANCE SHEETS

(Unaudited)

			December 31, 2013	March 31, 2013
ASSETS
		Cash and cash equivalents	$ 1,069,653	$ 1,025,100
	Other assets		2,200	258,725
			$ 1,071,853	$ 1,283,825

LIABILITIES
		Accounts payable	$ 65,100	$ 44,400
		Accounts payable affiliates (Note C)	18,548,445	20,357,970
		Capital contributions payable (Note D)	169,974	169,974
			18,783,519	20,572,344
PARTNERS' CAPITAL (DEFICIT)

Assignees
		Units of limited partnership interest, $10 stated value per BAC; 20,000,000 authorized BACs; 18,679,738 issued and 18,631,538 and 18,655,338 outstanding as of December 31, 2013 and March 31, 2013, respectively.	(16,153,614)	(17,714,699)

General Partner			(1,558,052)	(1,573,820)
			(17,711,666)	(19,288,519)
			$ 1,071,853	$ 1,283,825

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED BALANCE SHEETS

(Unaudited)

Series 7

		December 31, 2013	March 31, 2013
ASSETS
	Cash and cash equivalents	$ -	$ -
	Other assets	-	-
		$ -	$ -

LIABILITIES

	Accounts payable	$ -	$ -
	Accounts payable affiliates (Note C)	-	-
	Capital contributions payable (Note D)	-	-
		-	-

PARTNERS' CAPITAL (DEFICIT)

Assignees
	Units of limited partnership interest, $10 stated value per BAC; 20,000,000 authorized BACs; 1,036,100 issued and 1,036,100 and 1,036,100 outstanding as of December 31, 2013 and March 31, 2013.	(84,506)	(84,506)

General Partner		84,506	84,506
		-	-
		$ -	$ -

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED BALANCE SHEETS

(Unaudited)

Series 9

			December 31, 2013	March 31, 2013
ASSETS
	Cash and cash equivalents		$ 131,933	$ 101,496
		Other assets	-	-
			$ 131,933	$ 101,496

LIABILITIES

	Accounts payable		$ 10,000	$ 25,900
	Accounts payable affiliates (Note C)		6,457,751	6,393,853
	Capital contributions payable (Note D)		-	-
			6,467,751	6,419,753

PARTNERS' CAPITAL (DEFICIT)

Assignees
	Units of limited partnership interest, $10 stated value per BAC; 20,000,000 authorized BACs; 4,178,029 issued and 4,164,929 and 4,171,729 outstanding as of December 31, 2013 and March 31, 2013, respectively.		(5,937,622)	(5,920,237)

General Partner			(398,196)	(398,020)

			(6,335,818)	(6,318,257)
			$ 131,933	$ 101,496

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED BALANCE SHEETS

(Unaudited)

Series 10

			December 31, 2013	March 31, 2013
ASSETS
	Cash and cash equivalents		$ 152,128	$ 222,664
		Other assets	-	-
			$ 152,128	$ 222,664
LIABILITIES

	Accounts payable		$ 10,000	$ 5,000
	Accounts payable affiliates (Note C)		1,773,596	2,034,503
	Capital contributions payable (Note D)		-	-
			1,783,596	2,039,503

PARTNERS' CAPITAL (DEFICIT)

Assignees
	Units of limited partnership interest, $10 stated value per BAC; 20,000,000 authorized BACs; 2,428,925 issued and 2,421,225 outstanding as of December 31, 2013 and March 31, 2013.		(1,420,241)	(1,603,758)

General Partner			(211,227)	(213,081)
			(1,631,468)	(1,816,839)
			$ 152,128	$ 222,664

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED BALANCE SHEETS

(Unaudited)

Series 11

			December 31, 2013	March 31, 2013
ASSETS
		Cash and cash equivalents	$ 160,214	$ 150,502
	Other assets		-	101,525
			$ 160,214	$ 252,027

LIABILITIES
		Accounts payable	$ -	$ -
		Accounts payable affiliates (Note C)	1,038,088	1,067,392
		Capital contributions payable (Note D)	-	-
			1,038,088	1,067,392

PARTNERS' CAPITAL (DEFICIT)

Assignees
		Units of limited partnership interest, $10 stated value per BAC; 20,000,000 authorized BACs; 2,489,599 issued and 2,486,499 and 2,488,499 outstanding as of December 31, 2013 and March 31, 2013, respectively.	(654,411)	(592,527)

General Partner			(223,463)	(222,838)
			(877,874)	(815,365)
			$ 160,214	$ 252,027

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED BALANCE SHEETS

(Unaudited)

Series 12

			December 31, 2013	March 31, 2013
ASSETS
		Cash and cash equivalents	$ 231,083	$ 182,782
	Other assets		-	-
			$ 231,083	$ 182,782

LIABILITIES

		Accounts payable	$ 27,500	$ 7,500
		Accounts payable affiliates (Note C)	3,284,319	3,847,625
		Capital contributions payable (Note D)	9,241	9,241
			3,321,060	3,864,366

PARTNERS' CAPITAL (DEFICIT)

Assignees
		Units of limited partnership interest, $10 stated value per BAC; 20,000,000 authorized BACs; 2,972,795 issued and 2,966,795 and 2,971,795 outstanding as of December 31, 2013 and March 31, 2013, respectively.	(2,807,947)	(3,393,638)

General Partner			(282,030)	(287,946)
			(3,089,977)	(3,681,584)
			$ 231,083	$ 182,782

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED BALANCE SHEETS

(Unaudited)

Series 14

			December 31, 2013	March 31, 2013
ASSETS
	Cash and cash equivalents		$ 394,295	$ 367,656
		Other assets	2,200	157,200
			$ 396,495	$ 524,856

LIABILITIES

	Accounts payable		$ 17,600	$ 6,000
	Accounts payable affiliates (Note C)		5,994,691	7,014,597
	Capital contributions payable (Note D)		160,733	160,733
			6,173,024	7,181,330

PARTNERS' CAPITAL (DEFICIT)

Assignees
	Units of limited partnership interest, $10 stated value per BAC; 20,000,000 authorized BACs; 5,574,290 issued and 5,555,990 and 5,565,990 outstanding as of December 31, 2013 and March 31, 2013, respectively.		(5,248,887)	(6,120,033)

General Partner			(527,642)	(536,441)
			(5,776,529)	(6,656,474)
			$ 396,495	$ 524,856

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,
(Unaudited)

		2013	2012

Income
	Interest income	$ 318	$ 285
	Other income	-	1,526
		318	1,811

Share of income from Operating Partnerships(Note D)		368,493	376,608

Expenses

	Professional fees	5,950	1,621
	Partnership management fee, net (Note C)	112,396	94,406
	General and administrative expenses	49,359	42,701
		167,705	138,728

NET INCOME(LOSS)		$ 201,106	$ 239,691

	Net income(loss) allocated to assignees	$ 199,095	$ 237,294

	Net income(loss) allocated to general partner	$ 2,011	$ 2,397

	Net income(loss) per BAC	$ .01	$ .01

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,

(Unaudited)

Series 7

		2013	2012

Income
	Interest income	$ -	$ -
	Other income	-	-
		-	-

Share of income from Operating Partnerships(Note D)		-	-

Expenses

	Professional fees	-	-
	Partnership management fee, net (Note C)	-	-
	General and administrative expenses	-	-
		-	-

NET INCOME(LOSS)		$ -	$ -

	Net income(loss) allocated to assignees	$ -	$ -

	Net income(loss) allocated to general partner	$ -	$ -

	Net income(loss) per BAC	$ -	$ -

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,
(Unaudited)

Series 9

		2013	2012

Income
	Interest income	$ 32	$ 44
	Other income	-	5
		32	49

Share of income from Operating Partnerships(Note D)		3,900	-

Expenses

	Professional fees	1,190	110
	Partnership management fee, net (Note C)	17,864	21,283
	General and administrative expenses	9,270	7,901
		28,324	29,294

NET INCOME(LOSS)		$ (24,392)	$ (29,245)

	Net income(loss) allocated to assignees	$ (24,148)	$ (28,953)

	Net income(loss) allocated to general partner	$ (244)	$ (292)

	Net income(loss) per BAC	$ (.01)	$ (.01)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,
(Unaudited)

Series 10

		2013	2012

Income
	Interest income	$ 52	$ 42
	Other income	-	-
		52	42

Share of income from Operating Partnerships(Note D)		-	-

Expenses

	Professional fees	1,190	379
	Partnership management fee, net (Note C)	15,435	22,094
	General and administrative expenses	7,196	6,933
		23,821	29,406

NET INCOME(LOSS)		$ (23,769)	$ (29,364)

	Net income(loss) allocated to assignees	$ (23,531)	$ (29,070)

	Net income(loss) allocated to general partner	$ (238)	$ (294)

	Net income(loss) per BAC	$ (.01)	$ (.01)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,
(Unaudited)

Series 11

		2013	2012

Income
	Interest income	$ 41	$ 37
	Other income	-	-
		41	37

Share of income from Operating Partnerships(Note D)		-	-

Expenses

	Professional fees	1,190	18
	Partnership management fee, net (Note C)	27,554	17,577
	General and administrative expenses	7,101	6,660
		35,845	24,255

NET INCOME(LOSS)		$ (35,804)	$ (24,218)

	Net income(loss) allocated to assignees	$ (35,446)	$ (23,976)

	Net income(loss) allocated to general partner	$ (358)	$ (242)

	Net income(loss) per BAC	$ (.01)	$ (.01)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,
(Unaudited)

Series 12

		2013	2012

Income
	Interest income	$ 91	$ 48
	Other income	-	1,152
		91	1,200

Share of income from Operating Partnerships(Note D)		364,593	142,808

Expenses

	Professional fees	1,190	278
	Partnership management fee, net (Note C)	14,935	(2,073)
	General and administrative expenses	8,779	8,177
		24,904	6,382

NET INCOME(LOSS)		$ 339,780	$ 137,626

	Net income(loss) allocated to assignees	$ 336,382	$ 136,250

	Net income(loss) allocated to general partner	$ 3,398	$ 1,376

	Net income(loss) per BAC	$ .11	$ .05

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended December 31,
(Unaudited)

Series 14

		2013	2012

Income
	Interest income	$ 102	$ 114
	Other income	-	369
		102	483

Share of income from Operating Partnerships(Note D)		-	233,800

Expenses

	Professional fees	1,190	836
	Partnership management fee, net (Note C)	36,608	35,525
	General and administrative expenses	17,013	13,030
		54,811	49,391

NET INCOME(LOSS)		$ (54,709)	$ 184,892

	Net income(loss) allocated to assignees	$ (54,162)	$ 183,043

	Net income(loss) allocated to general partner	$ (547)	$ 1,849

	Net income(loss) per BAC	$ (.01)	$ .03

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Nine months Ended December 31,
(Unaudited)

		2013	2012

Income
	Interest income	$ 999	$ 1,029
	Other income	32,321	23,916
		33,320	24,945

Share of income from Operating Partnerships(Note D)		2,016,337	677,058

Expenses

	Professional fees	137,560	123,791
	Partnership management fee, net (Note C)	243,132	383,870
	General and administrative expenses	92,112	87,322
		472,804	594,983

NET INCOME(LOSS)		$ 1,576,853	$ 107,020

	Net income(loss) allocated to assignees	$ 1,561,085	$ 105,950

	Net income(loss) allocated to general partner	$ 15,768	$ 1,070

	Net income(loss) per BAC	$ .08	$ .01

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Nine months Ended December 31,

(Unaudited)

Series 7

		2013	2012

Income
	Interest income	$ -	$ -
	Other income	-	-
		-	-

Share of income from Operating Partnerships(Note D)		-	-

Expenses

	Professional fees	-	-
	Partnership management fee, net (Note C)	-	-
	General and administrative expenses	-	-
		-	-

NET INCOME(LOSS)		$ -	$ -

	Net income(loss) allocated to assignees	$ -	$ -

	Net income(loss) allocated to general partner	$ -	$

	Net income(loss) per BAC	$ -	$ -

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Nine months Ended December 31,
(Unaudited)

Series 9

		2013	2012

Income
	Interest income	$ 87	$ 220
	Other income	-	682
		87	902

Share of income from Operating Partnerships(Note D)		81,372	197,944

Expenses

	Professional fees	24,210	22,413
	Partnership management fee, net (Note C)	57,309	59,284
	General and administrative expenses	17,501	16,433
		99,020	98,130

NET INCOME(LOSS)		$ (17,561)	$ 100,716

	Net income(loss) allocated to assignees	$ (17,385)	$ 99,709

	Net income(loss) allocated to general partner	$ (176)	$ 1,007

	Net income(loss) per BAC	$ (.00)	$ .02

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Nine months Ended December 31,
(Unaudited)

Series 10

		2013	2012

Income
	Interest income	$ 163	$ 235
	Other income	5,600	3,790
		5,763	4,025

Share of income from Operating Partnerships(Note D)		250,276	-

Expenses

	Professional fees	19,850	18,021
	Partnership management fee, net (Note C)	36,275	62,213
	General and administrative expenses	14,543	14,571
		70,668	94,805

NET INCOME(LOSS)		$ 185,371	$ (90,780)

	Net income(loss) allocated to assignees	$ 183,517	$ (89,872)

	Net income(loss) allocated to general partner	$ 1,854	$ (908)

	Net income(loss) per BAC	$ .08	$ (.04)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Nine months Ended December 31,
(Unaudited)

Series 11

		2013	2012

Income
	Interest income	$ 125	$ 137
	Other income	6,345	4,019
		6,470	4,156

Share of income from Operating Partnerships(Note D)		13,811	-

Expenses

	Professional fees	20,600	20,486
	Partnership management fee, net (Note C)	48,065	70,107
	General and administrative expenses	14,125	13,987
		82,790	104,580

NET INCOME(LOSS)		$ (62,509)	$(100,424)

	Net income(loss) allocated to assignees	$ (61,884)	$ (99,420)

	Net income(loss) allocated to general partner	$ (625)	$ (1,004)

	Net income(loss) per BAC	$ (.02)	$ (.04)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Nine months Ended December 31,
(Unaudited)

Series 12

		2013	2012

Income
	Interest income	$ 220	$ 132
	Other income	1,188	1,188
		1,408	1,320

Share of income from Operating Partnerships(Note D)		662,903	160,100

Expenses

	Professional fees	25,035	23,211
	Partnership management fee, net (Note C)	30,361	47,050
	General and administrative expenses	17,308	16,394
		72,704	86,655

NET INCOME(LOSS)		$ 591,607	$ 74,765

	Net income(loss) allocated to assignees	$ 585,691	$ 74,017

	Net income(loss) allocated to general partner	$ 5,916	$ 748

	Net income(loss) per BAC	$ .20	$ .02

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF OPERATIONS

Nine months Ended December 31,
(Unaudited)

Series 14

		2013	2012

Income
	Interest income	$ 404	$ 305
	Other income	19,188	14,237
		19,592	14,542

Share of income from Operating Partnerships(Note D)		1,007,975	319,014

Expenses

	Professional fees	47,865	39,660
	Partnership management fee, net (Note C)	71,122	145,216
	General and administrative expenses	28,635	25,937
		147,622	210,813

NET INCOME(LOSS)		$ 879,945	$ 122,743

	Net income(loss) allocated to assignees	$ 871,146	$ 121,516

	Net income(loss) allocated to general partner	$ 8,799	$ 1,227

	Net income(loss) per BAC	$ .16	$ .02

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine months Ended December 31,
(Unaudited)

	Assignees	General Partner	Total

Partners' capital (deficit) April 1, 2013	$(17,714,699)	$(1,573,820)	$(19,288,519)

Net income(loss)	1,561,085	15,768	1,576,853

Partners' capital (deficit), December 31, 2013	$(16,153,614)	$(1,558,052)	$(17,711,666)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine months Ended December 31,
(Unaudited)

	Assignees	General Partner	Total
Series 7
Partners' capital (deficit) April 1, 2013	$ (84,506)	$ 84,506	$ -

Net income(loss)	-	-	-

Partners' capital (deficit), December 31, 2013	$ (84,506)	$ 84,506	$ -


Series 9
Partners' capital (deficit) April 1, 2013	$(5,920,237)	$ (398,020)	$(6,318,257)

Net income(loss)	(17,385)	(176)	(17,561)

Partners' capital (deficit), December 31, 2013	$(5,937,622)	$ (398,196)	$(6,335,818)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine months Ended December 31,
(Unaudited)

	Assignees	General Partner	Total
Series 10
Partners' capital (deficit) April 1, 2013	$ (1,603,758)	$ (213,081)	$ (1,816,839)

Net income(loss)	183,517	1,854	185,371

Partners' capital (deficit), December 31, 2013	$ (1,420,241)	$ (211,227)	$ (1,631,468)


Series 11
Partners' capital (deficit) April 1, 2013	$ (592,527)	$ (222,838)	$ (815,365)

Net income(loss)	(61,884)	(625)	(62,509)

Partners' capital (deficit), December 31, 2013	$ (654,411)	$ (223,463)	$ (877,874)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Nine months Ended December 31,
(Unaudited)

	Assignees	General Partner	Total
Series 12
Partners' capital (deficit) April 1, 2013	$(3,393,638)	$ (287,946)	$(3,681,584)

Net income(loss)	585,691	5,916	591,607

Partners' capital (deficit), December 31, 2013	$(2,807,947)	$ (282,030)	$(3,089,977)


Series 14
Partners' capital (deficit) April 1, 2013	$(6,120,033)	$ (536,441)	$(6,656,474)

Net income(loss)	871,146	8,799	879,945

Partners' capital (deficit), December 31, 2013	$(5,248,887)	$ (527,642)	$(5,776,529)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS

Nine months Ended December 31,
(Unaudited)

		2013		2012
Cash flows from operating activities:

Net Income(loss)		$ 1,576,853		$ 107,020
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships		(2,016,337)		(677,058)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses		20,700		46,200
Decrease (Increase) in other assets		1,200		185,518
(Decrease) Increase in accounts payable affiliates		(1,809,525)		(322,403)

Net cash (used in) provided by operating activities		(2,227,109)		(660,723)

Cash flows from investing activities:

Proceeds from the disposition of Operating Partnerships		2,271,662		677,058

Net cash provided by investing activities		2,271,662		677,058

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	44,553		16,335

Cash and cash equivalents, beginning	1,025,100		1,302,447

Cash and cash equivalents, ending	$ 1,069,653		$ 1,318,782

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS

Nine months Ended December 31,
(Unaudited)

Series 7

	2013	2012
Cash flows from operating activities:

Net Income(loss)	$ -	$ -
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	-	-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses	-	-
Decrease (Increase) in other assets	-	-
(Decrease) Increase in accounts payable affiliates	-	-

Net cash (used in) provided by operating activities	-	-

Cash flows from investing activities:

Proceeds from the disposition of Operating Partnerships	-	-

Net cash provided by investing activities	-	-

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	-	-

Cash and cash equivalents, beginning	-	-

Cash and cash equivalents, ending	$ -	$ -

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS

Nine months Ended December 31,
(Unaudited)

Series 9

	2013	2012
Cash flows from operating activities:

Net Income(loss)	$ (17,561)	$ 100,716
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	(81,372)	(197,944)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses	(15,900)	(2,100)
Decrease (Increase) in other assets	-	-
(Decrease) Increase in accounts payable affiliates	63,898	(281,847)

Net cash (used in) provided by operating activities	(50,935)	(381,175)

Cash flows from investing activities:

Proceeds from the disposition of Operating Partnerships	81,372	197,944

Net cash provided by investing activities	81,372	197,944

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	30,437	(183,231)

Cash and cash equivalents, beginning	101,496	316,051

Cash and cash equivalents, ending	$ 131,933	$ 132,820

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS

Nine months Ended December 31,
(Unaudited)

Series 10

	2013	2012
Cash flows from operating activities:

Net Income(loss)	$ 185,371	$ (90,780)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	(250,276)	-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses	5,000	-
Decrease (Increase) in other assets	-	339,418
(Decrease) Increase in accounts payable affiliates	(260,907)	(345,718)

Net cash (used in) provided by operating activities	(320,812)	(97,080)

Cash flows from investing activities:

Proceeds from the disposition of Operating Partnerships	250,276	-

Net cash provided by investing activities	250,276	-

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(70,536)	(97,080)

Cash and cash equivalents, beginning	222,664	250,847

Cash and cash equivalents, ending	$ 152,128	$ 153,767

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS

Nine months Ended December 31,
(Unaudited)

Series 11

	2013	2012
Cash flows from operating activities:

Net Income(loss)	$ (62,509)	$ (100,424)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	(13,811)	-
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses	-	-
Decrease (Increase) in other assets	-	-
(Decrease) Increase in accounts payable affiliates	(29,304)	38,974

Net cash (used in) provided by operating activities	(105,624)	(61,450)


Cash flows from investing activities:

Proceeds from the disposition of Operating Partnerships	115,336	-

Net cash provided by investing activities	115,336	-

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	9,712	(61,450)

Cash and cash equivalents, beginning	150,502	205,808

Cash and cash equivalents, ending	$ 160,214	$ 144,358

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS

Nine months Ended December 31,
(Unaudited)

Series 12

	2013	2012
Cash flows from operating activities:

Net Income(loss)	$ 591,607	$ 74,765
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	(662,903)	(160,100)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses	20,000	11,000
Decrease (Increase) in other assets	-	-
(Decrease) Increase in accounts payable affiliates	(563,306)	95,012

Net cash (used in) provided by operating activities	(614,602)	20,677

Cash flows from investing activities:

Proceeds from the disposition of Operating Partnerships	662,903	160,100

Net cash provided by investing activities	662,903	160,100

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	48,301	180,777

Cash and cash equivalents, beginning	182,782	170,287

Cash and cash equivalents, ending	$ 231,083	$ 351,064

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

STATEMENTS OF CASH FLOWS

Nine months Ended December 31,
(Unaudited)

Series 14

	2013	2012
Cash flows from operating activities:

Net Income(loss)	$ 879,945	$ 122,743
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	(1,007,975)	(319,014)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses	11,600	37,300
Decrease (Increase) in other assets	1,200	(153,900)
(Decrease) Increase in accounts payable affiliates	(1,019,906)	171,176

Net cash (used in) provided by operating activities	(1,135,136)	(141,695)

Cash flows from investing activities:

Proceeds from the disposition of Operating Partnerships	1,161,775	319,014

Net cash provided by investing activities	1,161,775	319,014

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	26,639	177,319

Cash and cash equivalents, beginning	367,656	359,454

Cash and cash equivalents, ending	$ 394,295	$ 536,773

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS

December 31, 2013

(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 September 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 Partnerships"). Effective as of June 1, 2001 there was a restructuring, and as a result, the Partnership's general partner was reorganized as follows. The general partner of the Partnership 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. As of December 31, 2013 1,036,100 BACs in Series 7, 4,164,929 BACs in Series 9, 2,421,225 BACs in Series 10, 2,486,499 BACs in Series 11, 2,966,795 BACs in Series 12, and 5,555,990 BACs in Series 14 are outstanding. 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 December 31, 2013 and for the nine 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 CONDENSED FINANCIAL STATEMENTS (CONTINUED)

December 31, 2013

(Unaudited)

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES - CONTINUED

Costs incurred by the Partnership in acquiring the investments in Operating Partnerships were 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's Annual Report on Form 10-K for the fiscal year ended March 31, 2013.

NOTE C - RELATED PARTY TRANSACTIONS

The Partnership has entered into several transactions with various affiliates of the general partner, including Boston Capital Holdings, L.P. and Boston Capital Asset Management Limited Partnership, or BCAMLP, as follows:

Accounts payable affiliates at December 31, 2013 and 2012 represents
accrued general and administrative expenses, accrued partnership management fees, and advances from an affiliate of the general partner, which are payable to Boston Capital Holdings, L.P. and Boston Capital Asset Management Limited
Partnership.

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. Since reporting fees collected by the series were added to reserves and not paid to Boston Capital Asset Management Limited Partnership, the amounts accrued are not net of reporting fees received.

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS (CONTINUED)

December 31, 2013

(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS (continued)

The partnership management fee accrued for the quarters ended December 31, 2013 and 2012 are as follows:

	2013	2012
Series 7	$ -	$ -
Series 9	20,864	21,843
Series 10	15,435	23,094
Series 11	28,554	29,658
Series 12	21,096	30,474
Series 14	40,227	65,814

	$ 126,176	$ 170,883

The partnership management fee paid for the quarters ended December 31, 2013 and 2012 are as follows:

	2013	2012
Series 7	$ -	$ -
Series 9	-	-
Series 10	36,445	-
Series 11	-	-
Series 12	351,048	-
Series 14	-	-

	$ 387,493	$ -

The partnership management fee paid for the nine months ended December 31, 2013 and 2012 are as follows:

	2013	2012
Series 7	$ -	$ -
Series 9	-	368,125
Series 10	317,801	415,000
Series 11	115,335	50,000
Series 12	637,435	-
Series 14	1,161,775	52,625

	$ 2,232,346	$ 885,750

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS (CONTINUED)

December 31, 2013

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At December 31, 2013, and 2012 the Partnership had limited partnership interests in 76 and 96 Operating Partnerships, respectively, which own apartment complexes. The number of Operating Partnerships in which the Partnership had limited partnership interests at December 31, 2013 and 2012 by series is as follows:

	2013	2012
Series 7	-	-
Series 9	10	12
Series 10	9	15
Series 11	15	16
Series 12	13	21
Series 14	29	32

	76	96

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 December 31, 2013 and 2012 by series are as
follows:

	2013	2012
Series 7	$ -	$ -
Series 9	-	-
Series 10	-	-
Series 11	-	-
Series 12	9,241	9,241
Series 14	160,733	160,733

	$169,974	$169,974

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS (CONTINUED)

December 31, 2013

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS - Continued

During the nine months ended December 31, 2013, the Partnership disposed of eighteen Operating Partnerships and a partial sale of one Operating Partnership. A summary of the disposition by Series for December 31, 2013 is as follows:

	Operating Partnership Interest Transferred	Sale of Underlying Operating Partnership	Partnership Proceeds from Disposition *		Gain on Disposition
Series 7	-	-	$	-	$	-
Series 9	2	-		81,372		81,372
Series 10	4	1		250,276		250,276
Series 11	-	-		115,336		13,811
Series 12	6	2		662,903		662,903
Series 14	2	1		1,161,775		1,007,975
Total	14	4	$	2,271,662	$	2,016,337

* Partnership proceeds from disposition include $101,525 and $153,800 recorded as a receivable as of March 31, 2013, for Series 11 and Series 14.

During the nine months ended December 31, 2012, the Partnership disposed of twenty-two Operating Partnerships and received additional proceeds from one Operating Partnership disposed of in the prior year. A summary of the disposition by Series for December 31, 2012 is as follows:

	Operating Partnership Interest Transferred	Sale of Underlying Operating Partnership	Partnership Proceeds from Disposition *		Gain on Disposition
Series 7	-	-	$	-	$	-
Series 9	5	1		197,944		197,944
Series 10	-	-		-		-
Series 11	-	-		-		-
Series 12	1	1		160,100		160,100
Series 14	13	1		319,014		319,014
Total	19	3	$	677,058	$	677,058

* Fund proceeds from disposition include $153,800 recorded as a receivable as of December 31, 2012, in Series 14. The proceeds also include $50,000 from a prior year disposition in Series 14.

The gain described above is for financial statement purposes only. There are significant differences between the equity method of accounting and the tax reporting of income and losses from Operating Partnership investments. The largest difference is the ability, for tax purposes, to deduct losses in excess of the Partnership's investment in the Operating Partnership. As such, the amount of gain recognized for tax purposes may be significantly higher than the gain recorded in the financial statements.

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, the current financial results available for the Operating Partnerships are for the nine months ended September 30, 2013.

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS (CONTINUED)

December 31, 2013

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS - Continued

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months Ended September 30,

(Unaudited)

		2013	2012

Revenues
	Rental	$ 11,553,191	$ 14,855,559
	Interest and other	465,948	608,475
		12,019,139	15,464,034

Expenses
	Interest	1,790,543	2,495,698
	Depreciation and amortization	2,762,312	3,555,057
	Operating expenses	8,469,936	10,813,834
		13,022,791	16,864,589

NET LOSS		$ (1,003,652)	$ (1,400,555)

	Net loss allocated to Boston Capital Tax Credit Fund II Limited Partnership*	$ (993,616)	$ (1,386,550)


	Net loss allocated to other partners	$ (10,036)	$ (14,005)

*Amounts include $993,616 and $1,386,550 for 2013 and 2012, respectively, of loss not recognized under the equity method of accounting.

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 Partnership's 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 CONDENSED FINANCIAL STATEMENTS (CONTINUED)

December 31, 2013

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS - Continued

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months Ended September 30,

(Unaudited)

Series 7

		2013	2012

Revenues
	Rental	$ -	$ -
	Interest and other	-	-
		-	-

Expenses
	Interest	-	-
	Depreciation and amortization	-	-
	Operating expenses	-	-
		-	-

NET LOSS		$ -	$ -

	Net loss allocated to Boston Capital Tax Credit Fund II Limited Partnership*	$ -	$ -


	Net loss allocated to other partners	$ -	$ -

*Amounts include $0 for 2013 and 2012, respectively, of loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS (CONTINUED)

December 31, 2013

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS - Continued

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months Ended September 30,
(Unaudited)

Series 9

		2013	2012

Revenues
	Rental	$ 1,665,928	$ 2,056,029
	Interest and other	81,652	112,331
		1,747,580	2,168,360

Expenses
	Interest	269,442	365,161
	Depreciation and amortization	412,758	509,091
	Operating expenses	1,143,169	1,549,721
		1,825,369	2,423,973

NET LOSS		$ (77,789)	$ (255,613)

	Net loss allocated to Boston Capital Tax Credit Fund II Limited Partnership*	$ (77,011)	$ (253,057)


	Net loss allocated to other partners	$ (778)	$ (2,556)

*Amounts include $77,011 and $253,057 for 2013 and 2012, respectively, of loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS (CONTINUED)

December 31, 2013

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months Ended September 30,
(Unaudited)

Series 10

		2013	2012

Revenues
	Rental	$ 1,379,493	$ 1,785,869
	Interest and other	36,813	27,252
		1,416,306	1,813,121

Expenses
	Interest	173,590	247,904
	Depreciation and amortization	327,030	427,859
	Operating expenses	1,068,133	1,383,243
		1,568,753	2,059,006

NET LOSS		$ (152,447)	$ (245,885)

	Net loss allocated to Boston Capital Tax Credit Fund II Limited Partnership*	$ (150,923)	$ (243,426)


	Net loss allocated to other partners	$ (1,524)	$ (2,459)

*Amounts include $150,923 and $243,426 for 2013 and 2012, respectively, of loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS (CONTINUED)

December 31, 2013

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months Ended September 30,
(Unaudited)

Series 11

		2013	2012

Revenues
	Rental	$ 2,446,817	$ 2,564,634
	Interest and other	90,099	101,593
		2,536,916	2,666,227

Expenses
	Interest	381,945	421,250
	Depreciation and amortization	569,016	658,613
	Operating expenses	1,756,080	1,843,291
		2,707,041	2,923,154

NET LOSS		$ (170,125)	$ (256,927)

	Net loss allocated to Boston Capital Tax Credit Fund II Limited Partnership*	$ (168,424)	$ (254,358)


	Net loss allocated to other partners	$ (1,701)	$ (2,569)

*Amounts include $168,424 and $254,358 for 2013 and 2012, respectively, of loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS (CONTINUED)

December 31, 2013

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months Ended September 30,
(Unaudited)

Series 12

		2013	2012

Revenues
	Rental	$ 1,956,870	$ 2,574,191
	Interest and other	141,101	198,699
		2,097,971	2,772,890

Expenses
	Interest	321,686	447,335
	Depreciation and amortization	506,306	593,937
	Operating expenses	1,436,873	1,845,919
		2,264,865	2,887,191

NET LOSS		$ (166,894)	$ (114,301)

	Net loss allocated to Boston Capital Tax Credit Fund II Limited Partnership*	$ (165,225)	$ (113,158)


	Net loss allocated to other partners	$ (1,669)	$ (1,143)

*Amounts include $165,225 and $113,158 for 2013 and 2012, respectively, of loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS (CONTINUED)

December 31, 2013

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Nine months Ended September 30,
(Unaudited)

Series 14

		2013	2012

Revenues
	Rental	$ 4,104,083	$ 5,874,836
	Interest and other	116,283	168,600
		4,220,366	6,043,436

Expenses
	Interest	643,880	1,014,048
	Depreciation and amortization	947,202	1,365,557
	Operating expenses	3,065,681	4,191,660
		4,656,763	6,571,265

NET LOSS		$ (436,397)	$ (527,829)

	Net loss allocated to Boston Capital Tax Credit Fund II Limited Partnership*	$ (432,033)	$ (522,551)


	Net loss allocated to other partners	$ (4,364)	$ (5,278)

*Amounts include $432,033 and $522,551 for 2013 and 2012, respectively, of loss not recognized under the equity method of accounting.

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS (CONTINUED)
December 31, 2013
(Unaudited)

NOTE E - TAXABLE LOSS

The taxable loss for the calendar year ended December 31, 2013 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.

NOTE F - INCOME TAXES

The Partnership has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The Partnership's federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Partnership is not required to take any tax positions in order to qualify as a pass-through entity. The Partnership is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Partnership has no other tax positions, which must be considered for disclosure. Income tax returns filed by the Partnership are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2010 remain open.

Boston Capital Tax Credit Fund II Limited Partnership

NOTES TO CONDENSED FINANCIAL STATEMENTS (CONTINUED)
December 31, 2013
(Unaudited)

NOTE G - PLAN OF LIQUIDATION

On March 3, 2010, our General Partner recommended that the BAC holders approve a plan of liquidation and dissolution for the Partnership, or the "Plan." The Plan was approved by the BAC holders on July 1, 2010, and was adopted by the General Partner on July 1, 2010. Pursuant to the Plan, the General Partner is able to, without further action by the BAC holders:

liquidate the assets and wind up the business of the Partnership;
make liquidating distributions in cancellation of the BACs;
dissolve the Partnership after the sale of all of the Partnership's assets; and
take, or cause the Partnership to take, such other acts and deeds and shall do, or cause the Partnership to do, such other things, as are necessary or appropriate in connection with the dissolution, winding up and liquidation of the Partnership, the termination of the responsibilities and liabilities of the Partnership under applicable law, and the termination of the existence of the Partnership.

Since the approval of the Plan by the BAC holders, we have continued to seek to sell the assets of the Partnership and use the sale proceeds and/or other Partnership funds to pay all expenses in connection with such sales, pay or make provision for payment of all Partnership obligations and liabilities, including accrued fees, and unpaid loans to the General Partner, and distribute the remaining assets as set forth in the Partnership Agreement. We expect to complete the sale of the apartment complexes approximately three to five years after the BAC holders approval of the Plan, which was July 1, 2010. However, because of numerous uncertainties, the liquidation may take longer or shorter than expected, and the final liquidating distribution may occur months after all of the apartment complexes have been sold. As liquidation is not imminent, the Partnership will continue to report as a going concern.

For additional information regarding the sale of Partnership assets, see "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Annual Report on Form 10-K.

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

This Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements including our intentions, hopes, beliefs, expectations, strategies and predictions of our future activities, or other future events or conditions. These statements are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created by these acts. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including, for example, the factors identified in Part I, Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended March 31, 2013. Although we believe that the assumptions underlying these forward-looking statements are reasonable, any of the assumptions could be inaccurate, and there can be no assurance that the forward-looking statements included in this Report will prove to be accurate. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of this information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved.

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 for the nine months ended December 31, 2013 or on working capital reserves, (ii) cash distributions from operations of the Operating Partnerships in which the Partnership has invested and (iii) proceeds received from the dispositions of the Operating Partnership that are returned to fund reserves. These sources of liquidity, along with the Partnership's 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 has recognized other income for the nine months ended December 31, 2013 and 2012 in the amount of $32,321 and $23,916. The balance 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 is currently accruing the partnership management fee. Partnership management fees accrued during the quarter ended December 31, 2013 were $126,176 and total partnership management fees accrued as of December 31, 2013 were $18,395,257. During the nine months ended December 31, 2013, the Partnership paid $2,232,346 in accrued partnership management fees. Pursuant to the Partnership Agreement, these liabilities will be deferred until the Partnership receives proceeds from sales of the Operating Partnerships, which will be used to satisfy these liabilities. The Partnership's working capital and sources of liquidity coupled with affiliated party liability accruals allow sufficient levels of liquidity to meet the third party obligations of the Partnership. The Partnership is currently unaware of any trends that would create insufficient liquidity to meet future third party obligations of the Partnership.

As of December 31, 2013, an affiliate of the general partner of the Partnership advanced a total of $153,188, on behalf of Series 12, to pay some operating expenses of the Partnership, and to make advances and/or loans to Operating Partnerships. These advances are included in Accounts payable affiliates. During the quarter ended December 31, 2013, the Partnership did not receive any repayment of advances.

All payables to affiliates will be paid, without interest, from available cash flow or the proceeds of sales or refinancing of the Partnership's interests in Operating Partnerships. During the quarter ended December 31, 2013, no payments were made to an affiliate of the general partner.

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.

As of December 31, 2013 the Partnership had $1,069,653 remaining in cash and cash equivalents. Below is a table, which provides, by series, the equity raised, number of BACs sold, final date BACs were offered, number of properties held at December 31, 2013, and cash and cash equivalents.

Series	Equity	BACs Sold	Final Close Date	Number of Properties	Cash and Cash Equivalents
7	$ 10,361,000	1,036,100	12/29/89	-	$ -
9	41,574,018	4,178,029	05/04/90	10	131,933
10	24,288,997	2,428,925	08/24/90	9	152,128
11	24,735,002	2,489,599	12/27/90	15	160,214
12	29,710,003	2,972,795	04/30/91	13	231,083
14	55,728,997	5,574,290	01/27/92	29	394,295

	$186,398,017	18,679,738		76	$1,069,653

Reserve balances are remaining proceeds less outstanding capital contribution obligations, which have not been advanced or loaned to the Operating Partnerships. The reserve balances for Series 9,10,11,12 and 14 as of December 31, 2013 are $131,933, $152,128, $160,214, $221,842 and $233,562, respectively.

(Series 8) No BACs with respect to Series 8 were offered.

(Series 13) No BACs with respect to Series 13 were offered.

Results of Operations

As of December 31, 2013 and 2012 the Partnership held limited partnership interests in 76 and 96 Operating Partnerships, respectively. In each instance the apartment complex owned by the applicable Operating Partnership is eligible for the federal housing tax credit. Initial occupancy of a unit in each apartment complex which initially complied with the minimum set-aside test (i.e., initial 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 as "Qualified Occupancy." Each of the Operating Partnerships and each of the respective apartment complexes are described more fully in the Prospectus or applicable report on Form 8-K. The general partner believes that there is adequate casualty insurance on the properties.

The Partnership incurs an annual partnership management fee to the general partner of the Partnership and/or its affiliates in an amount equal to 0.5% of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of various partnership management and reporting fees paid by the Operating Partnerships. The partnership management fees incurred and the reporting fees paid by the Operating Partnerships for the three and nine months ended December 31, 2013 are as follows:

	3 Months Gross Management Fee	3 Months Reporting Fee	3 Months Management Fee Net of Reporting Fee
Series 7	$ -	$ -	$ -
Series 9	20,864	3,000	17,864
Series 10	15,435	-	15,435
Series 11	28,554	1,000	27,554
Series 12	21,096	6,161	14,935
Series 14	40,227	3,619	36,608
	$ 126,176	$ 13,780	$ 112,396

	9 Months Gross Management Fee	9 Months Reporting Fee	9 Months Management Fee Net of Reporting Fee
Series 7	$ -	$ -	$ -
Series 9	63,898	6,589	57,309
Series 10	56,894	20,619	36,275
Series 11	86,031	37,966	48,065
Series 12	74,129	43,768	30,361
Series 14	141,869	70,747	71,122
	$ 422,821	$ 179,689	$ 243,132

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.

(Series 7)

The series did not have any properties as of December 31, 2013 and 2012.

(Series 9)

As of December 31, 2013 and 2012, the average Qualified Occupancy for the series was 100%. The series had a total of 10 properties at December 31, 2013, all of which were at 100% Qualified Occupancy.

For the periods ended December 31, 2013 and 2012, Series 9 reflects loss from Operating Partnerships of $(77,789) and $(255,613), respectively, which includes depreciation and amortization of $412,758 and $509,091, respectively. This is an interim period estimate; it is not indicative of the final year end results.

On April 30, 2012, the operating general partner of Sunshine Apartments, A Limited Partnership sold the property to a non-affiliated entity. The sales price of the property was $1,237,864, which included the outstanding mortgage balance of approximately $925,000 and cash proceeds to the investment partnership of $171,000. Of the total proceeds received by the investment partnership, $15,000 was paid to BCAMLP for expenses related to the sale, which includes third party legal costs. The remaining proceeds from the sale of $156,000 were returned to cash reserves held by Series 9. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expenses, has been recorded in the amount of $156,000 as of June 30, 2012.

Glenwood Hotel Investors (Glenwood Hotel) is a 36-unit single room occupancy development located in Porterville, CA. The property has historically operated with high occupancy. In 2012, the property continued to maintain strong occupancy and as of December 31, 2012 occupancy was 90%. Through the fourth quarter of 2013 occupancy was strong at 97%. However, despite the continued strong occupancy, the property is operating below breakeven. To maintain a high occupancy level and to be competitive in the market, management is continuing to keep rental rates low. The management company continues to market available units to the local housing authorities and performs various outreach efforts to attract qualified applicants. The operating general partner continues to fund deficits as needed. The mortgage, insurance, and payables are current. On December 31, 2004, the 15-year low income housing tax credit compliance period expired with respect to Glenwood Hotel Investors LP.

In July 2012, the investment general partner transferred its interest in Big Lake Seniors Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $520,555 and cash proceeds to the investment partnership of $9,000. Of the total proceeds received, $2,625 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $6,375 were returned to cash reserves held by Series 9. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within 15 years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. The investment general partner on behalf of the investment partnership, also executed a Transfer and Assignment of Mineral Rights preserving the investment partnership's right to any potential proceeds that may be distributed from production of minerals at the property. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $6,375 as of September 30, 2012.

In July 2012, the investment general partner transferred its interest in Blanco Seniors Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $487,964 and cash proceeds to the investment partnership of $9,000. Of the total proceeds received, $2,625 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $6,375 were returned to cash reserves held by Series 9. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within 15 years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. The investment general partner on behalf of the investment partnership, also executed a Transfer and Assignment of Mineral Rights preserving the investment partnership's right to any potential proceeds that may be distributed from production of minerals at the property. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $6,375 as of September 30, 2012.

In July 2012, the investment general partner transferred its interest in Pleasanton, Limited to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $574,131 and cash proceeds to the investment partnership of $9,000. Of the total proceeds received, $2,625 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $6,375 were returned to cash reserves held by Series 9. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within 15 years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. The investment general partner on behalf of the investment partnership, also executed a Transfer and Assignment of Mineral Rights preserving the investment partnership's right to any potential proceeds that may be distributed from production of minerals at the property. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $6,375 as of September 30, 2012.

In December 2013, the investment general partner transferred its interest in South Paris Heights Associates, LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,374,451 and cash proceeds to the investment partnership of $11,900. Of the total proceeds received, $3,000 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $3,900 were returned to cash reserves held by Series 9. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $3,900 as of December 31, 2013.

In September 2012, the investment general partner transferred its interest in Le Grand Enterprises to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,611,385 and cash proceeds to the investment partnership of $25,000. Of the total proceeds received, $563 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $3,500 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $20,937 were returned to cash reserves held by Series 9. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within ten years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $20,937 as of September 30, 2012.

In September 2012, the investment general partner transferred its interest in Fawn River Apartment Company LDHA to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,470,597 and cash proceeds to the investment partnership of $25,000. Of the total proceeds received, $1,882 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $3,500 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $19,618 were returned to cash reserves held by Series 9. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within ten years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $19,618 as of September 30, 2012. In the fourth quarter of 2013 an adjustment of $17,736 was made to reduce the reporting fee due to an affiliate recorded and increase the amount returned to cash reserves, which is recorded as a gain on the transfer. The numbers disclosed above have been restated for the adjustment.

In July 2013, the investment general partner transferred its interest in Meadow Run LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $605,033 and cash proceeds to the investment partnership of $84,000. Of the total proceeds received, $1,528 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $77,472 were returned to cash reserves held by Series 9. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $77,472 as of September 30, 2013.

(Series 10)

As of December 31, 2013 and 2012, the average Qualified Occupancy for the series was 100%. The series had a total of 9 properties at December 31, 2013, all of which were at 100% Qualified Occupancy.

For the periods ended December 31, 2013 and 2012, Series 10 reflects net loss from Operating Partnerships of $(152,447) and $(245,885), respectively, which includes depreciation and amortization of $327,030 and $427,859, respectively. This is an interim period estimate; it is not indicative of the final year end results.

Meadowbrook Properties II, LP (Meadowbrook Lane Apartments) is a 50-unit family property located in Americus, GA. The property has operated below breakeven for several years with occupancy averaging below 90%. The property continues to operate below breakeven through the fourth quarter of 2013 with occupancy averaging 90%. Although lower than 2012, expenses continue to impact the property's ability to generate cash and operate above breakeven. Deficits are being funded by accruing the related party management fee. On December 31, 2004, the 15-year low income housing tax credit compliance period expired with respect to Meadowbrook Properties II, LP.

Stratford Square, Limited Partnership (Stratford Square Apartments) is a 24-unit elderly property located in Brundidge, AL. The property operated below breakeven in 2012 while averaging 94% occupancy for the year. The property is operating above breakeven through the third quarter of 2013. Operating expenses have slightly decreased from 2012 to 2013. Occupancy is averaging 99% for 2013. Operations are expected to continue to improve. The investment limited partner has repeatedly requested, but not yet received, the financials for the fourth quarter of 2013. The 15-year low income housing tax credit compliance period expired on December 31, 2007.

In March 2013, the investment general partner transferred its interest in Brentwood Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $893,079 and cash proceeds to the investment partnership of $72,526. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $67,526 were returned to cash reserves held by Series 10. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $67,526 as of March 31, 2013.

In July 2013, the investment general partner transferred its interest in Rosewood Village LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $611,772 and cash proceeds to the investment partnership of $60,530. Of the total proceeds received, $8,408 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $47,122 were returned to cash reserves held by Series 10. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $47,122 as of September 30, 2013.

In July 2013, the investment general partner transferred its interest in Ellaville Properties LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $738,026 and cash proceeds to the investment partnership of $105,000. Of the total proceeds received, $291 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $99,709 were returned to cash reserves held by Series 10. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $99,709 as of September 30, 2013.

In August 2013, the investment general partner sold its interest in Ackerman Housing, LP to and entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $398,000 and cash proceeds to the investment partnership of $72,000. Of the total proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $67,000 were returned to cash reserves held by Series 10. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership has been recorded in the amount of $67,000 as of September 30, 2013.

In September 2013, the investment general partner transferred its interest in Lambert Square LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $903,163 and cash proceeds to the investment partnership of $27,095. Of the total proceeds received, $6,678 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $15,417 were returned to cash reserves held by Series 10. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $15,417 as of September 30, 2013.

In September 2013, the investment general partner transferred its interest in Pinetree Manor LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $918,609 and cash proceeds to the investment partnership of $27,558. Of the total proceeds received, $1,530 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $21,028 were returned to cash reserves held by Series 10. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $21,028 as of September 30, 2013.

(Series 11)

As of December 31, 2013 and 2012 the average Qualified Occupancy for the series was 100%. The series had a total of 15 properties at December 31, 2013, all of which were at 100% Qualified Occupancy.

For the periods ended December 31, 2013 and 2012, Series 11 reflects net loss from Operating Partnerships of $(170,125) and $(256,927), respectively, which includes depreciation and amortization of $569,016 and $658,613, respectively. This is an interim period estimate; it is not indicative of the final year end results.

South Fork Heights, LTD (South Fork Heights Apartments) is a 48-unit family property in South Fork, CO and is financed by Rural Development. The original operating general partner was replaced in January 2011 at the request of Rural Development. The property is in poor physical condition and has consistently struggled to maintain strong occupancy. The property closed 2013 at 70% occupied. The property operated above breakeven in 2012 by decreasing expenses. Rural Development approved the property to receive a Multi-Family Housing Preservation and Revitalization Restructuring Program (MPR) Loan in 2008, but would not lend the funds while the previous operating general partner was still involved in the project. The new operating general partner received a commitment from Rural Development for the MPR Loan; however, the loan amount was insufficient to complete the needed property improvements. The operating general partner feels it has exhausted all potential options for financing and has been unsuccessful in securing additional funds. Consequently, the operating general partner requested that its interest be transferred. At the close of the fourth quarter, the investment general partner was reviewing a potential general partner interest transfer. On December 31, 2005, the 15-year low income housing tax credit compliance period expired with respect to South Fork Heights, LTD.

In March 2013, the investment general partner transferred its interest in Church Hill Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $896,407 and receipt of a Promissory Note (the "Note") to the investment partnership in the amount of $106,525 maturing on August 31, 2013. Of the amounts payable under the Note, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $101,525 will be returned to cash reserves held by Series 11. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. The sale proceeds were received in May 2013; so a receivable in the amount of $101,525 was recorded as of March 31, 2013. Accordingly, a gain on the transfer of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded in the amount of $101,525 as of March 31, 2013.

In April 2013, the investment general partner transferred 49.99% of its interest in RPI Limited Partnership #18 to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,155,533 and cash proceeds to the investment partnership of $18,811. Of the proceeds received, $5,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $13,811 were returned to cash reserves held by Series 11. The remaining 50.01% investment limited partner interest in the Operating Partnership is scheduled to be transferred in April 2014 for anticipated cash proceeds of $190, which will be returned to the cash reserves held by Series 11. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within 5 years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expenses, was recorded in the amount of $13,811 as of June 30, 2013.

(Series 12)

As of December 31, 2013 and 2012 the average Qualified Occupancy for the series was 100%. The series had a total of 13 properties at December 31, 2013, all of which were at 100% Qualified Occupancy.

For the periods ended December 31, 2013 and 2012, Series 12 reflects net loss from Operating Partnerships of $(166,894) and $(114,301), respectively, which includes depreciation and amortization of $506,306 and $593,937, respectively. This is an interim period estimate; it is not indicative of the final year end results.

Briarwick Apartments Limited, A KY Limited Partnership (Briarwick Apartments) is a 40-unit family property located in Nicholasville, KY. The property has operated below breakeven for the past several years due to low occupancy and high operating expenses. Rural Development (RD) approved a workout plan in the third quarter of 2011 to stabilize the property, consisting of a rental rate increase and an increase in the monthly replacement reserve deposit. Occupancy decreased in the fourth quarter, averaging 89% as of December 31, 2013. Although operations are currently at breakeven, maintaining occupancy continues to be a challenge. Management states that it is difficult competing with the newer properties in the area. They are marketing the property by posting fliers at various churches, stores, and community centers around the town. The mortgage, real estate tax, and insurance payments are current. The operating general partner continues to advance funds and accrue its affiliated property management fee to fund deficits, if necessary. On December 31, 2005, the 15-year low income housing tax credit compliance period expired with respect to Briarwick Apartments Limited.

In September 2012, the investment general partner transferred its interest in Earlimart Enterprises, A CA LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,262,975 and cash proceeds to the investment partnership of $25,000. Of the total proceeds received, $4,208 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $3,500 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $17,292 were returned to cash reserves held by Series 12. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within ten years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expenses, was recorded in the amount of $17,292 as of September 30, 2012.

In November 2012, the operating general partner of Corcoran Investment Group entered into an agreement to sell the property to an entity affiliated with the operating general partner and the transaction closed on November 28, 2012. The sales price of the property was $1,979,421, which included the outstanding mortgage balance of approximately $1,805,863 and cash proceeds to the investment partnership of $173,558. Of the total proceeds received by the investment partnership, $23,250 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the sale. Of the remaining proceeds, $7,500 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $142,808 were returned to cash reserves held by Series 12.The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expenses, was recorded in the amount of $142,808 as of December 31, 2012.

In July 2013, the investment general partner transferred its interest in Hamilton Village LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $536,431 and cash proceeds to the investment partnership of $57,747. Of the total proceeds received, $5,134 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $47,613 were returned to cash reserves held by Series 12. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the sale, net of the overhead and expenses, was recorded in the amount of $47,613 as of September 30, 2013.

In July 2013, the investment general partner transferred its interest in Laurel Village LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $623,908 and cash proceeds to the investment partnership of $70,200. Of the total proceeds received, $2,139 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $63,061 were returned to cash reserves held by Series 12. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expenses, was recorded in the amount of $63,061 as of September 30, 2013.

In July 2013, the investment general partner transferred its interest in Carson Village, LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $615,277 and cash proceeds to the investment partnership of $84,000. Of the total proceeds received, $1,292 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $77,708 were returned to cash reserves held by Series 12. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expenses, was recorded in the amount of $77,708 as of September 30, 2013.

In July 2013, the investment general partner transferred its interest in Autumnwood Village LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $955,411 and cash proceeds to the investment partnership of $105,000. Of the total proceeds received, $1,995 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $98,005 were returned to cash reserves held by Series 12. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expenses, was recorded in the amount of $98,005 as of September 30, 2013.

In September 2013, the investment general partner transferred its interest in Woodcrest Manor to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $664,106 and cash proceeds to the investment partnership of $19,923. Of the total proceeds received, $3,000 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $11,923 were returned to cash reserves held by Series 12. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expenses, was recorded in the amount of $11,923 as of September 30, 2013.

In December 2013, the investment general partner transferred its interest in Ridgeway Court III, LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $958,666 and cash proceeds to the investment partnership of $28,968. Of the total proceeds received, $1,000 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $2,500 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $25,468 were returned to cash reserves held by Series 12. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership has been recorded in the amount of $25,468 as of December 31, 2013.

In August 2013 the operating general partner of Prairie West Apartments III, LP entered into an agreement to sell the property to a non-affiliated entity of the operating general partner and the transaction closed on November 20, 2013. The sales price of the property was $1,000,000, which included the outstanding mortgage balance of approximately $620,000 and cash proceeds to the investment partnership of $200,000. Of the total proceeds received by the investment partnership, $1,500 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the sale. Of the remaining proceeds, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $193,500 were returned to cash reserves held by Series 12. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership has been recorded in the amount of $193,500 as of December 31, 2013.

In August 2013, the operating general partner of Crescent City Investment Group entered into an agreement to sell the property to an entity affiliated with the operating general partner and the transaction closed on November 20, 2013. The sales price of the property was $2,142,816, which included the outstanding mortgage balance of approximately $1,990,816 and cash proceeds to the investment partnership of $152,000. Of the total proceeds received by the investment partnership, $1,375 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the sale. Of the remaining proceeds, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $145,625 were returned to cash reserves held by Series 12. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership has been recorded in the amount of $145,625 as of December 31, 2013.

(Series 14)

As of December 31, 2013 and 2012 the average Qualified Occupancy for the series was 100%. The series had a total of 29 properties at December 31, 2013, all of which were at 100% Qualified Occupancy.

For the periods ended December 31, 2013 and 2012, Series 14 reflects net loss from Operating Partnerships of $(436,397) and $(527,829), respectively, which includes depreciation and amortization of $947,202 and $1,365,557, respectively. This is an interim period estimate; it is not indicative of the final year end results.

Brantwood Lane Limited Partnership (Brantwood Lane Apartments) is a 36-unit property located in Centreville, Alabama. The property was 97% occupied as of December 31, 2013. Since February 2013, the property has operated above breakeven with high average occupancy. However, the property operated below breakeven for the year due to a large amount of RD required repairs which were expensed in January 2013. Mortgage, taxes, and insurance are current. The tax credit compliance period for the operating partnership ended on December 31, 2005. The investment general partner is in the process of exploring various disposition opportunities consistent with the investment objectives of the investment partnership.

In July 2012, the investment general partner transferred its interest in Cottonwood Apartments II, A LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $784,477 and cash proceeds to the investment partnership of $9,000. Of the total proceeds received, $2,625 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $6,375 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within 15 years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. The investment general partner on behalf of the investment partnership, also executed a Transfer and Assignment of Mineral Rights preserving the investment partnership's right to any potential proceeds that may be distributed from production of minerals at the property. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expenses, was recorded in the amount of $6,375 as of September 30, 2012.

In March 2011, the operating general partner of Scott Partners entered into an agreement to sell the property to an entity affiliated with the operating general partner and the transaction closed on May 2, 2011. The sales price of the property was $1,505,000, which included the outstanding mortgage balance of approximately $1,031,412 and cash proceeds to the investment partnership of $389,317. Of the total proceeds received by the investment partnership, $15,000 was paid to BCAMLP for expenses related to the sale, which includes third party legal costs. The remaining proceeds from the sale of $374,317 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expenses, was recorded in the amount of $374,317 as of June 30, 2011. In July 2012, the investment partnership received additional proceeds for its share of the Operating Partnership's cash in the amount of $10,500 which were returned to the cash reserves held by Series 14.

In July 2012, the investment general partner transferred its interest in Colorado City Seniors to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $513,991 and cash proceeds to the investment partnership of $9,000. Of the total proceeds received, $2,625 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $6,375 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within 15 years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. The investment general partner on behalf of the investment partnership, also executed a Transfer and Assignment of Mineral Rights preserving the investment partnership's right to any potential proceeds that may be distributed from production of minerals at the property. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $6,375 as of September 30, 2012.

In July 2012, the investment general partner transferred its interest in Hughes Springs Seniors Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $746,096 and cash proceeds to the investment partnership of $9,000. Of the total proceeds received, $2,625 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $6,375 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within 15 years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. The investment general partner on behalf of the investment partnership, also executed a Transfer and Assignment of Mineral Rights preserving the investment partnership's right to any potential proceeds that may be distributed from production of minerals at the property. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $6,375 as of September 30, 2012.

In September 2012, the investment general partner transferred its interest in Central Valley Investment Group II to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,704,343 and cash proceeds to the investment partnership of $25,000. Of the total proceeds received, $1,125 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $3,500 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $20,375 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within ten years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $20,375 as of September 30, 2012.

In September 2012, the investment general partner transferred its interest in Lake Isabella Enterprises, a California Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,877,844 and cash proceeds to the investment partnership of $25,000. Of the total proceeds received, $2,973 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $3,500 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $18,527 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within ten years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $18,527 as of September 30, 2012.

In September 2012, the investment general partner transferred its interest in Nevada City Investment Group, A California Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $3,334,807 and cash proceeds to the investment partnership of $25,000. Of the total proceeds received, $4,813 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $3,500 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of approximately $16,687 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within ten years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $16,687 as of September 30, 2012.

In November 2012, the investment general partner transferred its interest in Lonaconing Associates LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,403,464 and cash proceeds to the investment partnership of $10,000. Of the total proceeds received, $3,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $6,500 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within ten years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $6,500 as of December 31, 2012.

In November 2012, the investment general partner transferred its interest in Titusville Apartments LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,168,760 and cash proceeds to the investment partnership of $10,000. Of the total proceeds received, $3,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $6,500 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within ten years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $6,500 as of December 31, 2012.

In November 2012, the investment general partner transferred its interest in Wesley Village Associates LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,232,687 and cash proceeds to the investment partnership of $10,000. Of the total proceeds received, $3,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $6,500 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within ten years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $6,500 as of December 31, 2012.

In December 2012, the investment general partner transferred its interest in Crystal Springs Family, LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,218,656 and cash proceeds to the investment partnership of $10,000. Of the total proceeds received, $7,400 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $2,600 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. There were no remaining proceeds returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within 15 years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership has been recorded.

In December 2012, the investment general partner transferred its interest in Louis Associates LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $615,555 and cash proceeds to the investment partnership of $10,000. Of the total proceeds received, $4,300 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $2,600 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $3,100 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within 15 years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $3,100 as of December 31, 2012.

In December 2012, the investment general partner transferred its interest in McComb Family, LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,012,134 and cash proceeds to the investment partnership of $10,000. Of the total proceeds received, $7,400 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $2,600 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. There were no remaining proceeds returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within 15 years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, no gain on the transfer of the Operating Partnership has been recorded.

In December 2012, the investment general partner transferred its interest in South Fulton Elderly, LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $629,627 and cash proceeds to the investment partnership of $10,000. Of the total proceeds received, $2,600 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $7,400 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. In addition, the investment general partner on behalf of the investment partnership entered into a residual receipt promissory note (the RRN) with the Operating Partnership for receipt of a residual payment. Under the terms of the RRN, if there is a capital transaction involving the property owned by the Operating Partnership at any time within 15 years from the initial transfer date, there would be a residual payment distributable to the investment partnership in accordance with the Operating Partnership Agreement in effect at the date the investment limited partner transferred its interest. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $7,400 as of December 31, 2012.

In December 2012, the investment general partner transferred its interest in Washington Court Associates LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,042,417 and receipt of a Promissory Note (the "Note") to the investment partnership in the amount of $165,000 maturing on June 30, 2013. The maturity date of the Note has been extended to September 30, 2013. Of the amounts payable under the Note, $1,200 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $10,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $153,800 will be returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. The transfer proceeds were received in September 2013; so a receivable in the amount of $153,800 was recorded for Series 14 as of December 31, 2012, and a gain on the transfer of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded in the amount of $153,800 as of December 31, 2012.

Lakeview Meadows LDHA L.P./TLB (Lakeview Meadows) is a 53-unit elderly apartment complex located in Battle Creek, MI. Occupancy at the property declined significantly in 2012. It averaged 83% for the year and ended 2012 79% occupied. In 2013, occupancy averaged 84%, ending December at 89%. The property operated below breakeven in 2013 as a result of the low occupancy. Operating expenses are stable and below the investment general partner's portfolio state average, so a sustained increase in occupancy should result in the property generating positive cash flow. The high vacancy is due to a weak economy in the Downriver area of Michigan. Local seniors that own homes in the area have not been able to sell those properties due to depressed values and an ailing residential real estate market. These conditions still persist but marketing initiatives and concessions increased occupancy slightly in 2013. The operating general partner continues to work with the local housing authority to source tenants. However, the Battle Creek Housing Authority and the Calhoun County Housing Authority still award the majority of their available Section 8 vouchers to families and not seniors. The management company continues to offer concessions and is focused on online marketing efforts. The mortgage, real estate taxes, and property insurance escrows are current. The operating general partner continues to fund all operating deficits as necessary. The compliance period for Lakeview Meadows LDHA L.P. ended on December 31, 2006.

In January 2013, the operating general partner of Lakeview Meadows LDHA LP approved an agreement to sell the property to an unaffiliated third party buyer and the transaction was scheduled to close in December 2013. However, the transaction is not moving forward due to the buyer's inability to obtain financing.

In December 2009, the investment general partner transferred its interest in Amherst Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,509,804 and cash proceeds to the investment limited partner of $50,000. Of the total proceeds received, $500 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $10,000 was paid to BCAMLP for expenses related to the transfer, which includes third party legal costs. The remaining proceeds of $39,500 will be returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expenses, was recorded in the amount of $39,500 as of December 31, 2009. Additional transfer proceeds in the amount of $50,000 was received and recorded as a gain on the transfer of the Operating Partnership as of December 31, 2012.

Bridge Coalition Limited Partnership (The Bridge Building) is a 15-unit, one-building apartment complex located in New York, New York. The property was 100% occupied as of December 31, 2013. In 2012 approximately $42,000 of tenant receivables were written off as bad debt. Through the fourth quarter of 2013 tenant receivables are still high there will likely need to be another significant write down. Assuming the accounts receivable balance is written off in 2013, the property will operate below breakeven for the year. To improve collections, management has pursued legal action with residents and set up structured payment plans for certain residents who are currently out of work. To monitor the management collection process the investment general partner has requested monthly aged tenant receivables summaries. The mortgage, insurance and taxes are all current at the property. On December 31, 2006, the 15-year low income housing tax credit compliance period expired with respect to Bridge Coalition Limited Partnership. The investment general partner is in the process of exploring various disposition opportunities consistent with the investment objectives of the investment partnership.

In January 2013, the investment partnership approved an agreement to sell Lexington Park Spring to an entity affiliated with the operating general partner and the transaction closed in August 2013. The sales price for the property was $6,500,000, which includes the outstanding mortgage balance of approximately $4,689,822 and cash proceeds to the investment partnership of $850,000. Of the proceeds received by the investment partnership, $15,000 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the sale. Of the remaining proceeds, $7,500 wil be paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of approximately $827,500 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the sale of the Operating Partnership of the proceeds from the sale, net of the overhead and expense reimbursement, was recorded in the amount of $827,500 as of September 30, 2013.

In June 2013, the investment general partner transferred its interest in Marion Manor Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $931,722 and cash proceeds to the investment partnership of $80,000. Of the total proceeds received, $3,150 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $71,850 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $71,850 as of June 30, 2013.

In July 2013, the investment general partner transferred its interest in Edison Village LP to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,116,735 and cash proceeds to the investment partnership of $122,000. Of the total proceeds received, $8,375 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $5,000 will be paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $108,625 were returned to cash reserves held by Series 14. The monies held in cash reserves will be utilized to pay current operating expenses, accrued but unpaid asset management fees, and accrued but unpaid expenses of the investment partnership. After all outstanding obligations of the investment partnership are satisfied, any remaining monies will be distributed based on the number of BACs held by each investor at the time of distribution. Annual losses generated by the Operating Partnership, which were applied against the investment limited partnership's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, was recorded in the amount of $108,625 as of September 30, 2013.

Off Balance Sheet Arrangements

None

Critical Accounting Policies and Estimates

The financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), which require the Partnership to make various estimates and assumptions. The following section is a summary of some aspects of those accounting policies that may require subjective or complex judgments and are most important to the portrayal of the Partnership's financial condition and results of operations. The Partnership believes that there is a low probability that the use of different estimates or assumptions in making these judgments would result in materially different amounts being reported in the financial statements.

The Partnership is required to assess potential impairments to its long-lived assets, which are primarily investments in limited partnerships. The Partnership accounts for its investment in limited partnerships in accordance with the equity method of accounting since the Partnership does not control the operations of the Operating Partnerships. The purpose of an impairment analysis is to verify that the real estate investment balance reflected on the balance sheet does not exceed the value of the underlying investments.

If the book value of the Partnership's investment in an Operating Partnership exceeds the estimated value derived by management, which generally consists of the remaining future Low-Income Housing Credits allocable to the Partnership and the estimated residual value to the Partnership, the Partnership reduces its investment in the Operating Partnership.

In accordance with the accounting guidance for the consolidation of variable interest entities, the Partnership determines when it should include the assets, liabilities, and activities of a variable interest entity (VIE) in its financial statements, and when it should disclose information about its relationship with a VIE. The analysis that must be performed to determine which entity should consolidate a VIE focuses on control and economic factors. A VIE is a legal structure used to conduct activities or hold assets, which must be consolidated by a company if it is the primary beneficiary because it has (1) the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (2) the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. If multiple unrelated parties share such power, as defined, no party will be required to consolidate the VIE. Further, the guidance requires continual reconsideration of the primary beneficiary of a VIE.

Based on this guidance, the Operating Partnerships in which the Partnership invests meet the definition of a VIE because the owners of the equity at risk in these entities do not have the power to direct their operations. However, management does not consolidate the Partnership's interests in these VIEs, as it is not considered to be the primary beneficiary since it does not have the power to direct the activities that are considered most significant to the economic performance of these entities. The Partnership currently records the amount of its investment in these partnerships as an asset on its balance sheets, recognizes its share of partnership income or losses in the statements of operations, and discloses how it accounts for material types of these investments in its financial statements. The Partnership's balance in investment in Operating Partnerships represents its maximum exposure to loss. The Partnership's exposure to loss on these partnerships is mitigated by the condition and financial performance of the underlying Housing Complexes as well as the strength of the general partners and their guarantee against credit recapture to the investors of the Partnership.

Item 3	Quantitative and Qualitative Disclosure About Market Risk

	Not Applicable

Item 4	Controls and Procedures

	(a)	Evaluation of Disclosure Controls and Procedures
		As of the end of the period covered by this report, the Partnership's general partner, under the supervision and with the participation of the Principal Executive Officer and Principal Financial Officer of C&M Management Inc., carried out an evaluation of the effectiveness of the Partnership's "disclosure controls and procedures" as defined under the Securities Exchange Act of 1934 Rules 13a-15 and 15d-15 with respect to each series individually, as well as the Partnership as a whole. Based on that evaluation, the Partnership's Principal Executive Officer and Principal Financial Officer have concluded that as of the end of the period covered by this report, the Partnership's disclosure controls and procedures with respect to each series individually, as well as the Partnership as a whole, were effective to ensure that information relating to any series or the Partnership as a whole required to be disclosed by it in the reports that it files or submits under the Securities Exchange Act of 1934 (i) is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms and (ii) is accumulated and communicated to the Partnership's management, including the Partnership's Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

	(b)	Changes in Internal Controls
		There were no changes in the Partnership's internal control over financial reporting that occurred during the quarter ended December 31, 2013 that materially affected, or are reasonably likely to materially affect, the Partnership's internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1.	Legal Proceedings

	None

Item 1A.	Risk Factors

	There have been no material changes from the risk factors set forth under Part I, Item 1A. "Risk Factors" in our Form 10-K for the fiscal year ended March 31, 2013.

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds

	None

Item 3.	Defaults Upon Senior Securities

	None

Item 4.	Mine Safety Disclosures

	Not Applicable

Item 5.	Other Information

	None

Item 6.	Exhibits

	(a)Exhibits

		31.a Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of John P. Manning, Principal Executive Officer, filed herein

		31.b Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of Marc N. Teal, Principal Financial Officer, filed herein

		32.a Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of John P. Manning, Principal Executive Officer, filed herein

		32.b Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of Marc N. Teal, Principal Financial Officer, filed herein

		101. The following materials from the Boston Capital Tax Credit Fund II L.P. Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2013 formatted in Extensible Business Reporting Language (XBRL): (i) the Condensed Balance Sheets, (ii) the Condensed Statements of Operations, (iii) the Condensed Statements of Changes in Partners' Capital (Deficit), (iv) the Condensed Statements of Cash Flows and (v) related notes, furnished herewith

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:	Boston Capital Associates II Limited Partnership, General Partner


	By:	BCA Associates Limited Partnership, General Partner


	By:	C&M Management, Inc., General Partner


Date: February 14, 2014	/s/ John P. Manning
	John P. Manning

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

DATE:	SIGNATURE:	TITLE:

February 14, 2014	/s/ John P. Manning John P. Manning	Director, President (Principal Executive Officer), C&M Management Inc.; Director, President (Principal Executive Officer) BCTC II Assignor Corp.

DATE:	SIGNATURE:	TITLE:

February 14, 2014	/s/ Marc N. Teal Marc N. Teal	Chief Financial Officer (Principal Financial and Accounting Officer), C&M Management Inc; Chief Financial Officer (Principal Financial and Accounting Officer) BCTC II Assignor Corp.

Attached files

BOSTON CAPITAL TAX CREDIT FUND II LTD PARTNERSHIP Reports

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