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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&amp;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.</p><p>Pursuant to the Securities Act of 1933, the Partnership filed a Form S-11<br />Registration Statement with the Securities and Exchange Commission, effective<br />October 25, 1989, which covered the offering (the "Public Offering") of the<br />Partnership''s beneficial assignee certificates ("BACs") representing<br />assignments of units of the beneficial interest of the limited partnership<br />interest of the assignor limited partner. The Partnership registered<br />20,000,000 BACs at $10 per BAC for sale to the public in six series. The<br />Partnership sold 1,036,100 of Series 7 BACs, 4,178,029 of Series 9 BACs,<br />2,428,925 of Series 10 BACs, 2,489,599 of Series 11 BACs, 2,972,795 of Series<br />12 BACs, and 5,574,290 of Series 14 BACs. As of September 30, 2012 1,036,100 BACs in Series 7, 4,176,329 BACs in Series 9, 2,423,225 BACs in Series 10, 2,489,599 BACs in Series 11, 2,971,795 BACs in Series 12, and 5,574,290 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.</p> <p><a name="note_b_accounting_financial_reporting"></a>NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES </p><p>The condensed financial statements included herein as of September 30, 2012 and for the six months then ended have been prepared by the Partnership, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. No BACs with respect to Series 8 and Series 13 were offered. The Partnership accounts for its investments in Operating Partnerships using the equity method, whereby the Partnership adjusts its investment cost for its share of each Operating Partnership''s results of operations and for any distributions received or accrued.</p><p><a name="note_c_related_party_transaction"></a>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.</p> <div> <p><a name="note_c_related_party_transaction">NOTE C - RELATED PARTY TRANSACTIONS</a> </p> <p>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:</p> <p>Accounts payable - affiliates at September 30, 2012 and 2011 represents<br />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<br />Partnership.</p> <p>An annual partnership management fee based on .5 percent of the aggregate<br />cost of all apartment complexes owned by the Operating Partnerships has been<br />accrued to Boston Capital Asset Management Limited Partnership. 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valign="bottom" width="3%">&#160;</td> <td valign="bottom" width="16%"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new"></font></font> <p align="justify"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new">-</font></font></p> </td> <td valign="bottom" width="3%">&#160;</td> <td valign="bottom" width="3%">&#160;</td> <td valign="bottom" width="18%"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new"></font></font> <p align="justify"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new">-</font></font></p> </td> </tr> <tr> <td valign="bottom" width="15%"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new"></font></font> <p><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new">Series 12</font></font></p> </td> <td valign="bottom" 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Under the equity method of accounting, the Partnership adjusts<br />its investment cost for its share of each Operating Partnership&#8217;s results of<br />operations and for any distributions received or accrued. However, the<br />Partnership recognizes individual operating losses only to the extent of<br />capital contributions. Excess losses are suspended for use in future years to<br />offset excess income.</p> <div>&#160;</div> <p><b><u>NOTE E - TAXABLE LOSS</u></b></p><p>The taxable loss for the calendar year ended December 31, 2012 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.</p> <p><b><u>NOTE F - INCOME TAXES</u></b></p><div>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&#8217;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.</div> <p><b><u>NOTE G - PLAN OF LIQUIDATION</u></b></p><p>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." 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style="font-family:courier new"><font size="2" style="font-family:courier new"></font></font> <p align="right"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</font></font></p> </td> <td height="19" valign="top" width="33%"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new"></font></font> <p align="right"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new">$&#160;&#160;&#160;&#160;&#160; -</font></font></p> </td> </tr> <tr> <td height="18" valign="top" width="30%"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new"></font></font> <p><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new">Series&#160;9</font></font></p> </td> <td height="18" valign="top" width="36%"><font size="2" style="font-family:courier new"><font 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new"></font></font> <p align="right"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</font></font></p> </td> <td height="18" valign="top" width="33%"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new"></font></font> <p align="right"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new">&#160;&#160;&#160;&#160;&#160;300,000</font></font></p> </td> </tr> <tr> <td height="18" valign="top" width="30%"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new"></font></font> <p><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new">Series&#160;14</font></font></p> </td> <td height="18" valign="top" width="36%"><font size="2" style="font-family:courier new"><font size="2" style="font-family:courier new"></font></font> <p 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