10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

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

For the quarterly period ended September 30, 2018

or

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

For the transition period from _______ to _______

Commission file number        0-21718

BOSTON CAPITAL TAX CREDIT FUND III L.P.
(Exact name of registrant as specified in its charter)

Delaware	52-1749505
(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)

                   (617) 624-8900                   

(Registrant's telephone number, including area code)

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

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the 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 every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ý No 

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

Large accelerated filer □	Accelerated Filer □
Non-accelerated filer ý	Smaller Reporting Company ý
	Emerging Growth Company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

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 III L.P.

QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED SEPTEMBER 30, 2018

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION
				Pages
	Item 1. Condensed Financial Statements
		Condensed Balance Sheets	4-9
		Condensed Statements of Operations	10-21
		Condensed Statements of Changes in  Partners' Capital (Deficit)	22-25
		Condensed Statements of Cash Flows	26-31
		Notes to Condensed Financial  Statements	32-44
	Item 2. Management's Discussion and Analysis of Financial Condition and Results of  Operations		45-56
	Item 3. Quantitative and Qualitative Disclosures About Market Risk		57
	Item 4. Controls and Procedures		57
PART II - OTHER INFORMATION
	Item 1. Legal Proceedings		58
	Item 1A. Risk Factors		58
	Item 2. Unregistered Sales of Equity Securities and Use of Proceeds		58
	Item 3. Defaults Upon Senior Securities		58
	Item 4. Mine Safety Disclosures		58
	Item 5. Other Information		58
	Item 6. Exhibits		58
	Signatures		59

Boston Capital Tax Credit Fund III L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

		September 30, 2018	March 31, 2018
ASSETS
INVESTMENTS IN OPERATING    PARTNERSHIPS(Note D)		$           -	$           -
Cash and cash equivalents		1,278,877	1,632,938
		$   1,278,877	$   1,632,938
LIABILITIES
Accounts payable & accrued expenses		$           -	$       2,000
Accounts payable affiliates (Note C)		13,699,762	14,740,050
Capital contributions payable (Note D)		26,447	26,447
		13,726,209	14,768,497
PARTNERS' CAPITAL (DEFICIT)
Assignees        Units of limited partnership     interest, $10 stated value per BAC;     22,000,000 authorized BACs; 21,996,102 issued and 21,778,581 outstanding as of September 30, 2018 and March 31, 2018	(10,567,129)		(11,248,474)
General Partner		(1,880,203)	(1,887,085)
		(12,447,332)	(13,135,559)
		$   1,278,877	$   1,632,938

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 15

		September 30, 2018	March 31, 2018
ASSETS
INVESTMENTS IN OPERATING    PARTNERSHIPS(Note D)		$          -	$          -
Cash and cash equivalents		165,712	244,074
		$    165,712	$    244,074
LIABILITIES
Accounts payable & accrued expenses		$          -	$          -
Accounts payable affiliates (Note C)		2,991,310	3,034,436
Capital contributions payable (Note D)		-	-
		2,991,310	3,034,436
PARTNERS' CAPITAL (DEFICIT)
Assignees        Units of limited partnership     interest, $10 stated value per    BAC; 22,000,000 authorized BACs;    3,870,500 issued and 3,811,700 outstanding as of September 30, 2018 and March 31, 2018	(2,475,153)		(2,440,269)
General Partner		(350,445)	(350,093)
		(2,825,598)	(2,790,362)
		$    165,712	$    244,074

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 16

		September 30, 2018		March 31, 2018
ASSETS
INVESTMENTS IN OPERATING    PARTNERSHIPS(Note D)	$          -		$          -
Cash and cash equivalents		136,758		320,396
		$    136,758		$    320,396
LIABILITIES
Accounts payable & accrued expenses		$          -		$      2,000
Accounts payable affiliates (Note C)		7,774,800		7,890,441
Capital contributions payable (Note D)		-		-
		7,774,800		7,892,441
PARTNERS' CAPITAL (DEFICIT)
Assignees        Units of limited partnership        interest, $10 stated value per    BAC; 22,000,000 authorized BACs;    5,429,402 issued and 5,367,700 outstanding as of September 30, 2018 and March 31, 2018		(7,095,054)		(7,029,717)
General Partner		(542,988)		(542,328)
		(7,638,042)		(7,572,045)
		$    136,758		$    320,396

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 17

		September 30, 2018		March 31, 2018
ASSETS
INVESTMENTS IN OPERATING    PARTNERSHIPS(Note D)	$          -		$          -
Cash and cash equivalents		590,156		536,326
		$    590,156		$    536,326
LIABILITIES
Accounts payable & accrued expenses		$          -		$          -
Accounts payable affiliates (Note C)		-		-
Capital contributions payable (Note D)		7,893		7,893
		7,893		7,893
PARTNERS' CAPITAL (DEFICIT)
Assignees        Units of limited partnership        interest, $10 stated value per    BAC; 22,000,000 authorized BACs;    5,000,000 issued and 4,956,447 outstanding as of September 30, 2018 and March 31, 2018		948,648		895,356
General Partner		(366,385)		(366,923)
		582,263		528,433
		$    590,156		$    536,326

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 18

	September 30, 2018		March 31, 2018
ASSETS
INVESTMENTS IN OPERATING    PARTNERSHIPS(Note D)		$          -		$          -
Cash and cash equivalents	225,223		351,136
	$    225,223		$    351,136
LIABILITIES
Accounts payable & accrued expenses	$          -		$          -
Accounts payable affiliates (Note C)	2,933,652		3,815,173
Capital contributions payable (Note D)	18,554		18,554
	2,952,206		3,833,727
PARTNERS' CAPITAL (DEFICIT)
Assignees        Units of limited partnership        interest, $10 stated value per    BAC; 22,000,000 authorized BACs;    3,616,200 issued and 3,586,734 outstanding as of September 30, 2018 and March 31, 2018	(2,389,485)		(3,137,537)
General Partner	(337,498)		(345,054)
	(2,726,983)		(3,482,591)
	$    225,223		$    351,136

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 19

		September 30, 2018	March 31, 2018
ASSETS
INVESTMENTS IN OPERATING    PARTNERSHIPS(Note D)	$          -			$          -
Cash and cash equivalents		161,028	181,006
		$    161,028	$    181,006
LIABILITIES
Accounts payable & accrued expenses		$          -	$          -
Accounts payable affiliates (Note C)		-	-
Capital contributions payable (Note D)		-	-
		-	-
PARTNERS' CAPITAL (DEFICIT)
Assignees        Units of limited partnership        interest, $10 stated value per    BAC; 22,000,000 authorized BACs;    4,080,000 issued and 4,056,000 outstanding as of September 30, 2018 and March 31, 2018		443,915	463,693
General Partner		(282,887)	(282,687)
		161,028	181,006
		$    161,028	$    181,006

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended September 30,
(Unaudited)

	2018	2017
Income
Interest income	$     2,891	$       821
Other income	100,693	3,337
	103,584	4,158
Share of Income from Operating    Partnerships(Note D)	-	107,853
Expenses
Professional fees	14,080	79,644
Fund management fee, net (Note C)	55,128	68,375
General and administrative expenses	36,626	31,459
	105,834	179,478
NET INCOME (LOSS)	$   (2,250)	$  (67,467)
Net income (loss) allocated to limited assignees	$   (2,228)	$  (66,794)
Net income (loss) allocated to general partner	$      (22)	$     (673)
Net income (loss) per BAC	$       .00	$       .00

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended September 30,

(Unaudited)

Series 15

	2018	2017
Income
Interest income	$        367	$         28
Other income	-	321
	367	349
Share of Income from Operating    Partnerships(Note D)	-	107,853
Expenses
Professional fees	2,960	16,307
Fund management fee, net (Note C)	8,772	4,551
General and administrative expenses	7,138	6,064
	18,870	26,922
NET INCOME (LOSS)	$   (18,503)	$     81,280
Net income (loss) allocated to limited assignees	$   (18,318)	$     80,467
Net income (loss) allocated to general partner	$      (185)	$        813
Net income (loss) per BAC	$      (.00)	$        .02

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended September 30,
(Unaudited)

Series 16

	2018	2017
Income
Interest income	$        415	$        326
Other income	1,677	2,000
	2,092	2,326
Share of Income from Operating    Partnerships(Note D)	-	-
Expenses
Professional fees	3,200	21,033
Fund management fee, net (Note C)	16,271	22,463
General and administrative expenses	8,161	7,053
	27,632	50,549
NET INCOME (LOSS)	$   (25,540)	$   (48,223)
Net income (loss) allocated to limited assignees	$   (25,285)	$   (47,741)
Net income (loss) allocated to general partner	$      (255)	$      (482)
Net income (loss) per BAC	$      (.00)	$      (.01)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended September 30,
(Unaudited)

Series 17

	2018	2017
Income
Interest income	$      1,294	$        348
Other income	98,000	-
	99,294	348
Share of Income from Operating    Partnerships(Note D)	-	-
Expenses
Professional fees	2,480	15,990
Fund management fee, net (Note C)	12,219	12,611
General and administrative expenses	7,541	6,583
	22,240	35,184
NET INCOME (LOSS)	$     77,054	$   (34,836)
Net income (loss) allocated to limited assignees	$     76,283	$   (34,488)
Net income (loss) allocated to general partner	$        771	$      (348)
Net income (loss) per BAC	$        .02	$      (.01)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended September 30,

(Unaudited)

Series 18

	2018	2017
Income
Interest income	$        496	$        101
Other income	933	933
	1,429	1,034
Share of Income from Operating    Partnerships(Note D)	-	-
Expenses
Professional fees	2,900	14,535
Fund management fee, net (Note C)	15,448	20,707
General and administrative expenses	6,840	5,735
	25,188	40,977
NET INCOME (LOSS)	$   (23,759)	$   (39,943)
Net income (loss) allocated to limited assignees	$   (23,521)	$   (39,544)
Net income (loss) allocated to general partner	$      (238)	$      (399)
Net income (loss) per BAC	$      (.01)	$      (.01)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended September 30,
(Unaudited)

Series 19

	2018	2017
Income
Interest income	$       319	$        18
Other income	83	83
	402	101
Share of Income from Operating    Partnerships(Note D)	-	-
Expenses
Professional fees	2,540	11,779
Fund management fee, net (Note C)	2,418	8,043
General and administrative expenses	6,946	6,024
	11,904	25,846
NET INCOME (LOSS)	$  (11,502)	$  (25,745)
Net income (loss) allocated to limited assignees	$  (11,387)	$  (25,488)
Net income (loss) allocated to general partner	$     (115)	$     (257)
Net income (loss) per BAC	$     (.00)	$     (.01)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 30,
(Unaudited)

	2018	2017
Income
Interest income	$     6,597	$     1,516
Other income	110,969	15,375
	117,566	16,891
Share of Income from Operating    Partnerships(Note D)	841,020	851,276
Expenses
Professional fees	103,137	101,694
Fund management fee, net (Note C)	108,538	124,772
General and administrative expenses	58,684	52,983
	270,359	279,449
NET INCOME (LOSS)	$   688,227	$   588,718
Net income (loss) allocated to limited assignees	$   681,345	$   582,832
Net income (loss) allocated to general partner	$     6,882	$     5,886
Net income (loss) per BAC	$       .03	$       .03

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 30,

(Unaudited)

Series 15

	2018	2017
Income
Interest income	$        800	$         40
Other income	-	321
	800	361
Share of Income from Operating    Partnerships(Note D)	12,500	217,639
Expenses
Professional fees	21,240	21,032
Fund management fee, net (Note C)	15,912	5,844
General and administrative expenses	11,384	10,299
	48,536	37,175
NET INCOME (LOSS)	$   (35,236)	$    180,825
Net income (loss) allocated to limited assignees	$   (34,884)	$    179,017
Net income (loss) allocated to general partner	$      (352)	$      1,808
Net income (loss) per BAC	$      (.01)	$        .05

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 30,
(Unaudited)

Series 16

	2018	2017
Income
Interest income	$        864	$        596
Other income	1,878	2,080
	2,742	2,676
Share of Income from Operating    Partnerships(Note D)	-	124,933
Expenses
Professional fees	24,625	26,808
Fund management fee, net (Note C)	30,756	38,003
General and administrative expenses	13,358	11,893
	68,739	76,704
NET INCOME (LOSS)	$   (65,997)	$     50,905
Net income (loss) allocated to limited assignees	$   (65,337)	$     50,396
Net income (loss) allocated to general partner	$      (660)	$        509
Net income (loss) per BAC	$      (.01)	$        .01

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 30,
(Unaudited)

Series 17

	2018	2017
Income
Interest income	$      2,132	$        641
Other income	108,075	11,958
	110,207	12,599
Share of Income from Operating    Partnerships(Note D)	-	-
Expenses
Professional fees	22,812	19,840
Fund management fee, net (Note C)	21,438	22,125
General and administrative expenses	12,127	11,033
	56,377	52,998
NET INCOME (LOSS)	$     53,830	$   (40,399)
Net income (loss) allocated to limited assignees	$     53,292	$   (39,995)
Net income (loss) allocated to general partner	$        538	$      (404)
Net income (loss) per BAC	$        .01	$      (.01)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 30,

(Unaudited)

Series 18

	2018	2017
Income
Interest income	$      2,168	$        199
Other income	933	933
	3,101	1,132
Share of Income from Operating    Partnerships(Note D)	815,520	508,704
Expenses
Professional fees	18,675	18,910
Fund management fee, net (Note C)	33,499	41,964
General and administrative expenses	10,839	9,714
	63,013	70,588
NET INCOME (LOSS)	$    755,608	$    439,248
Net income (loss) allocated to limited assignees	$    748,052	$    434,856
Net income (loss) allocated to general partner	$      7,556	$      4,392
Net income (loss) per BAC	$        .21	$        .12

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF OPERATIONS

Six Months Ended September 30,
(Unaudited)

Series 19

	2018	2017
Income
Interest income	$       633	$        40
Other income	83	83
	716	123
Share of Income from Operating    Partnerships(Note D)	13,000	-
Expenses
Professional fees	15,785	15,104
Fund management fee, net (Note C)	6,933	16,836
General and administrative expenses	10,976	10,044
	33,694	41,984
NET INCOME (LOSS)	$  (19,978)	$  (41,861)
Net income (loss) allocated to limited assignees	$  (19,778)	$  (41,442)
Net income (loss) allocated to general partner	$     (200)	$     (419)
Net income (loss) per BAC	$     (.00)	$     (.01)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Six Months Ended September 30, 2018

(Unaudited)

	Assignees	General Partner	Total
Partners' capital   (deficit)   April 1, 2018	$(11,248,474)	$ (1,887,085)	$(13,135,559)
Net income (loss)	681,345	6,882	688,227
Partners' capital   (deficit),   September 30, 2018	$(10,567,129)	$ (1,880,203)	$(12,447,332)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Six Months Ended September 30, 2018

(Unaudited)

	Assignees	General Partner	Total
Series 15
Partners' capital   (deficit)   April 1, 2018	$ (2,440,269)	$ (350,093)	$ (2,790,362)
Net income (loss)	(34,884)	(352)	(35,236)
Partners' capital   (deficit),   September 30, 2018	$ (2,475,153)	$ (350,445)	$ (2,825,598)
Series 16
Partners' capital   (deficit)   April 1, 2018	$ (7,029,717)	$ (542,328)	$ (7,572,045)
Net income (loss)	(65,337)	(660)	(65,997)
Partners' capital   (deficit),   September 30, 2018	$ (7,095,054)	$ (542,988)	$ (7,638,042)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Six Months Ended September 30, 2018

(Unaudited)

	Assignees	General Partner	Total
Series 17
Partners' capital   (deficit)   April 1, 2018	$     895,356	$  (366,923)	$     528,433
Net income (loss)	53,292	538	53,830
Partners' capital   (deficit),   September 30, 2018	$     948,648	$  (366,385)	$     582,263
Series 18
Partners' capital   (deficit)   April 1, 2018	$ (3,137,537)	$  (345,054)	$ (3,482,591)
Net income (loss)	748,052	7,556	755,608
Partners' capital   (deficit),   September 30, 2018	$ (2,389,485)	$  (337,498)	$ (2,726,983)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)

Six Months Ended September 30, 2018

(Unaudited)

	Assignees	General Partner	Total
Series 19
Partners' capital   (deficit)   April 1, 2018	$    463,693	$ (282,687)	$    181,006
Net income (loss)	(19,778)	(200)	(19,978)
Partners' capital   (deficit),   September 30, 2018	$    443,915	$ (282,887)	$    161,028

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,

(Unaudited)

	2018	2017
Cash flows from operating activities:
Net Income (Loss)	$   688,227	$   588,718
Adjustments to reconcile net income      (loss) to net cash (used in)      provided by operating activities
Share of Income from          Operating Partnerships	(841,020)	(851,276)
Changes in assets and liabilities
(Decrease) Increase in accounts         payable and accrued expenses	(2,000)	(17,853)
(Decrease) Increase in accounts         payable affiliates	(1,040,288)	(9,045)
Net cash (used in) provided by          operating activities	(1,195,081)	(289,456)
Cash flows from investing activities:
Proceeds from the disposition of      Operating Partnerships	841,020	851,276
Net cash provided by      investing activities	841,020	851,276
INCREASE (DECREASE) IN CASH AND         CASH EQUIVALENTS	(354,061)	561,820
Cash and cash equivalents, beginning	1,632,938	1,460,257
Cash and cash equivalents, ending	$  1,278,877	$  2,022,077

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 15

	2018	2017
Cash flows from operating activities:
Net Income (Loss)	$   (35,236)	$   180,825
Adjustments to reconcile net income      (loss) to net cash (used in)      provided by operating activities
Share of Income from          Operating Partnerships	(12,500)	(217,639)
Changes in assets and liabilities
(Decrease) Increase in accounts         payable and accrued expenses	-	3,647
(Decrease) Increase in accounts         payable affiliates	(43,126)	19,206
Net cash (used in) provided by          operating activities	(90,862)	(13,961)
Cash flows from investing activities:
Proceeds from the disposition of      Operating Partnerships	12,500	217,639
Net cash provided by      investing activities	12,500	217,639
INCREASE (DECREASE) IN CASH AND         CASH EQUIVALENTS	(78,362)	203,678
Cash and cash equivalents, beginning	244,074	64,641
Cash and cash equivalents, ending	$    165,712	$    268,319

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 16

		2018		2017
Cash flows from operating activities:
Net Income (Loss)		$   (65,997)		$    50,905
Adjustments to reconcile net income      (loss) to net cash (used in)      provided by operating activities
Share of Income from          Operating Partnerships		-		(124,933)
Changes in assets and liabilities
(Decrease) Increase in accounts         payable and accrued expenses		(2,000)		-
(Decrease) Increase in accounts         payable affiliates		(115,641)		(73,314)
Net cash (used in) provided by          operating activities		(183,638)		(147,342)
Cash flows from investing activities:
Proceeds from the disposition of      Operating Partnerships		-		124,933
Net cash provided by      investing activities		-		124,933
INCREASE (DECREASE) IN CASH AND         CASH EQUIVALENTS	(183,638)		(22,409)
Cash and cash equivalents, beginning	320,396		327,901
Cash and cash equivalents, ending	$   136,758		$   305,492

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,

(Unaudited)

Series 17

		2018		2017
Cash flows from operating activities:
Net Income (Loss)		$     53,830		$   (40,399)
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		-		(14,000)
(Decrease) Increase in accounts         payable affiliates		-		-
Net cash (used in) provided by          operating activities		53,830		(54,399)
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	53,830		(54,399)
Cash and cash equivalents, beginning	536,326		559,787
Cash and cash equivalents, ending	$    590,156		$    505,388

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,

(Unaudited)

Series 18

	2018	2017
Cash flows from operating activities:
Net Income (Loss)	$  755,608	$  439,248
Adjustments to reconcile net income      (loss) to net cash (used in)      provided by operating activities
Share of Income from          Operating Partnerships	(815,520)	(508,704)
Changes in assets and liabilities
(Decrease) Increase in accounts         payable and accrued expenses	-	-
(Decrease) Increase in accounts         payable affiliates	(881,521)	45,063
Net cash (used in) provided by          operating activities	(941,433)	(24,393)
Cash flows from investing activities:
Proceeds from the disposition of      Operating Partnerships	815,520	508,704
Net cash provided by      investing activities	815,520	508,704
INCREASE (DECREASE) IN CASH AND         CASH EQUIVALENTS	(125,913)	484,311
Cash and cash equivalents, beginning	351,136	318,027
Cash and cash equivalents, ending	$   225,223	$   802,338

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended September 30,

(Unaudited)

Series 19

		2018		2017
Cash flows from operating activities:
Net Income (Loss)		$   (19,978)		$   (41,861)
Adjustments to reconcile net income      (loss) to net cash (used in)      provided by operating activities
Share of Income from          Operating Partnerships		(13,000)		-
Changes in assets and liabilities
(Decrease) Increase in accounts         payable and accrued expenses		-		(7,500)
(Decrease) Increase in accounts         payable affiliates		-		-
Net cash (used in) provided by          operating activities		(32,978)		(49,361)
Cash flows from investing activities:
Proceeds from the disposition of      Operating Partnerships		13,000		-
Net cash provided by      investing activities		13,000		-
INCREASE (DECREASE) IN CASH AND         CASH EQUIVALENTS	(19,978)		(49,361)
Cash and cash equivalents, beginning	181,006		189,901
Cash and cash equivalents, ending	$    161,028		$    140,540

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS
September 30, 2018

(Unaudited)

NOTE A - ORGANIZATION

Boston Capital Tax Credit Fund III L.P. (the "Fund") was formed under the laws of the State of Delaware as of September 19, 1991 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 Fund's general partner was reorganized as follows. The general partner of the Fund continues to be Boston Capital Associates III L.P., a Delaware limited partnership. The general partner of the general partner of the Fund is now BCA Associates Limited Partnership, a Massachusetts limited partnership, whose sole general partner is C&M Management, Inc., a Massachusetts corporation 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 various officers and employees of Boston Capital Partners, Inc. and its affiliates. The assignor limited partner is BCTC III Assignor Corp., a Delaware corporation which is wholly-owned by Herbert F. Collins and John P. Manning.
Pursuant to the Securities Act of 1933, the Fund filed a Form S-11 Registration Statement with the Securities and Exchange Commission, effective January 24, 1992 which covered the offering (the "Public Offering") of the Fund's beneficial assignee certificates ("BACs") representing assignments of units of the beneficial interest of the limited partnership interest of the assignor limited partner.  The Fund registered 20,000,000 BACs at $10 per BAC for sale to the public in one or more series.  On September 4, 1993 the Fund filed an amendment to Form S-11 with the Securities and Exchange Commission which registered an additional 2,000,000 BACs at $10 per BAC for sale to the public in one or more series. The registration for the additional BACs became effective on October 6, 1993. Offers and sales of BACs in Series 15 through 19 of the Fund were completed and the last of the BACs in Series 15, 16, 17, 18 and 19 were issued by the Fund on September 26, 1992, December 28, 1992, September 17, 1993, September 22, 1993, and December 17, 1993, respectively.  The Fund sold 3,870,500 of Series 15 BACs, for a total of $38,705,000; 5,429,402 of Series 16 BACs, for a total of $54,293,000; 5,000,000 of Series 17 BACs, for a total of $50,000,000; 3,616,200 of Series 18 BACs, for a total of $36,162,000; and 4,080,000 of Series 19 BACs, for a total of $40,800,000.  As of September 30, 2018, 3,811,700 BACs in Series 15, 5,367,700 BACs in Series 16, 4,956,447 BACs in Series 17, 3,586,734 BACs in Series 18, and 4,056,000 BACs in Series 19, respectively, are outstanding. The Fund issued the last BACs in Series 19 on December 17, 1993.  This concluded the Public Offering of the Fund.

Boston Capital Tax Credit Fund III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2018

(Unaudited)

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements included herein as of September 30, 2018 and for the three and six months then ended have been prepared by the Fund, without audit. The Fund accounts for its investments in Operating Partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.  Costs incurred by the Fund in acquiring the investments in the Operating Partnerships are capitalized to the investment account.  

The Fund'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 notes thereto included in the Fund's Annual Report on Form 10-K for the fiscal year ended March 31, 2018.

Boston Capital Tax Credit Fund III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2018

(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS

The Fund has entered into several transactions with various affiliates of its general partner, including Boston Capital Holdings LP, Boston Capital Partners, Inc., and Boston Capital Asset Management Limited Partnership, as follows:

An annual fund 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. The fund management fees accrued for the three months ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$  8,772	$ 27,201
Series 16	20,021	24,663
Series 17	12,219	13,611
Series 18	15,948	22,257
Series 19	3,168	8,793
	$ 60,128	$ 96,525

The fund management fees paid for the three months ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$  62,500	$       -
Series 16	80,083	-
Series 17	12,219	13,611
Series 18	100,000	-
Series 19	3,168	8,793
	$ 257,970	$  22,404

The fund management fees paid for the six months ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$   62,500	$  16,000
Series 16	155,683	124,615
Series 17	24,438	27,222
Series 18	915,520	-
Series 19	7,683	17,586
	$1,165,824	$ 185,423

Boston Capital Tax Credit Fund III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED

September 30, 2018

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At September 30, 2018 and 2017, the Fund had limited partnership interests in 35 and 48 Operating Partnerships, respectively, which own or are constructing apartment complexes. The breakdown of Operating Partnerships within the Fund at September 30, 2018 and 2017 is as follows:

	2018	2017
Series 15	8	11
Series 16	12	15
Series 17	4	5
Series 18	10	11
Series 19	1	6
	35	48

Under the terms of the Fund's investment in each Operating Partnership, the Fund is required to make capital contributions to the Operating Partnerships.  These contributions are payable in installments over several years upon each Operating Partnership achieving specified levels of construction and/or operations.  The contributions payable at September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$      -	$      -
Series 16	-	-
Series 17	7,893	7,893
Series 18	18,554	18,554
Series 19	-	-
	$ 26,447	$ 26,447

During the six months ended September 30, 2018 the Fund disposed of four Operating Partnerships. A summary of the dispositions by Series for September 30, 2018 is as follows:

	Operating Partnership Interest Transferred	Sale of Underlying Operating Partnership	Fund Proceeds from Disposition		Gain on Disposition
Series 15	1	-	$	12,500	$	12,500
Series 16	-	-		-		-
Series 17	-	-		-		-
Series 18	1	-		815,520		815,520
Series 19	2	-		13,000		13,000
Total	4	-	$	841,020	$	841,020

Boston Capital Tax Credit Fund III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2018

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

During the six months ended September 30, 2017 the Fund disposed of five Operating Partnerships. A summary of the dispositions by Series for September 30, 2017 is as follows:

	Operating Partnership Interest Transferred	Sale of Underlying Operating Partnership	Fund Proceeds from Disposition		Gain on Disposition
Series 15	2	-	$	217,639	$	217,639
Series 16	2	-		124,933		124,933
Series 17	-	-		-		-
Series 18	-	1		508,704		508,704
Series 19	-	-		-		-
Total	4	1	$	851,276	$	851,276

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 Fund's investment in the Operating Partnership. As a result, the amount of gain recognized for tax purposes may be significantly higher than the gain recorded in the condensed financial statements.

The Fund's fiscal year ends March 31st 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 Fund within 45 days after the close of each Operating Partnerships quarterly period.  Accordingly, the current financial results available for the Operating Partnerships are for the six months ended June 30, 2018.

Boston Capital Tax Credit Fund III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2018

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

	2018	2017
Revenues
Rental	$  3,039,627	$  3,973,482
Interest and other	60,035	88,405
	3,099,662	4,061,887
Expenses
Interest	347,505	488,742
Depreciation and amortization	742,101	1,014,783
Operating expenses	2,477,569	3,191,453
	3,567,175	4,694,978
NET LOSS	$  (467,513)	$  (633,091)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$  (462,837)	$  (626,759)
Net loss allocated to other     Partners	$    (4,676)	$    (6,332)

* Amounts include $462,837 and $626,759 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of
accounting. Under the equity method of accounting, the Fund adjusts
its investment cost for its share of each Operating Partnership's results of
operations and for any distributions received or accrued. However, the
Fund 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 III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2018

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 15

	2018	2017
Revenues
Rental	$    502,625	$    830,763
Interest and other	10,626	18,488
	513,251	849,251
Expenses
Interest	36,618	101,623
Depreciation and amortization	122,439	214,199
Operating expenses	424,667	630,023
	583,724	945,845
NET LOSS	$   (70,473)	$   (96,594)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$   (69,768)	$   (95,628)
Net loss allocated to other     Partners	$      (705)	$      (966)

* Amounts include $69,768 and $95,628 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of
accounting. Under the equity method of accounting, the Fund adjusts
its investment cost for its share of each Operating Partnership's results of
operations and for any distributions received or accrued. However, the
Fund 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 III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2018

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 16

	2018	2017
Revenues
Rental	$  1,062,557	$  1,263,091
Interest and other	12,948	26,614
	1,075,505	1,289,705
Expenses
Interest	119,051	145,485
Depreciation and amortization	250,911	310,014
Operating expenses	813,932	989,936
	1,183,894	1,445,435
NET LOSS	$  (108,389)	$  (155,730)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$  (107,305)	$  (154,173)
Net loss allocated to other     Partners	$    (1,084)	$    (1,557)

* Amounts include $107,305 and $154,173 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of
accounting. Under the equity method of accounting, the Fund adjusts
its investment cost for its share of each Operating Partnership's results of
operations and for any distributions received or accrued. However, the
Fund 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 III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2018

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 17

	2018	2017
Revenues
Rental	$    579,160	$    635,359
Interest and other	11,751	12,045
	590,911	647,404
Expenses
Interest	53,055	62,075
Depreciation and amortization	171,868	193,589
Operating expenses	423,392	484,327
	648,315	739,991
NET LOSS	$   (57,404)	$   (92,587)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$   (56,829)	$   (91,660)
Net loss allocated to other     Partners	$      (575)	$      (927)

* Amounts include $56,829 and $91,660 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of
accounting. Under the equity method of accounting, the Fund adjusts
its investment cost for its share of each Operating Partnership's results of
operations and for any distributions received or accrued. However, the
Fund 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 III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2018

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 18

	2018	2017
Revenues
Rental	$     805,458	$     868,114
Interest and other	16,959	20,281
	822,417	888,395
Expenses
Interest	132,168	138,873
Depreciation and amortization	191,985	214,005
Operating expenses	715,697	755,097
	1,039,850	1,107,975
NET LOSS	$   (217,433)	$   (219,580)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$   (215,259)	$   (217,384)
Net loss allocated to other     Partners	$     (2,174)	$     (2,196)

* Amounts include $215,259 and $217,384 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of
accounting. Under the equity method of accounting, the Fund adjusts
its investment cost for its share of each Operating Partnership's results of
operations and for any distributions received or accrued. However, the
Fund 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 III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2018

(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS
Six Months Ended June 30,
(Unaudited)

Series 19

	2018	2017
Revenues
Rental	$     89,827	$    376,155
Interest and other	7,751	10,977
	97,578	387,132
Expenses
Interest	6,613	40,686
Depreciation and amortization	4,898	82,976
Operating expenses	99,881	332,070
	111,392	455,732
NET LOSS	$   (13,814)	$   (68,600)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$   (13,676)	$   (67,914)
Net loss allocated to other     Partners	$      (138)	$      (686)

* Amounts include $13,676 and $67,914 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of
accounting. Under the equity method of accounting, the Fund adjusts
its investment cost for its share of each Operating Partnership's results of
operations and for any distributions received or accrued. However, the
Fund 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 III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2018
(Unaudited)

NOTE E - TAXABLE LOSS

The Fund's taxable loss 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 Fund 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 Fund's federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund 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 Fund has no other tax positions which must be considered for disclosure.Income tax returns filed by the Fund 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 2014 remain open.

NOTE G - SUBSEQUENT EVENTS

Events that occur after the balance sheet date but before the financial statements were available to be issued must be evaluated for recognition or disclosure.  The effects of subsequent events that provide evidence about conditions that existed at the balance sheet date are recognized in the accompanying financial statements. Subsequent events, which provide evidence about conditions that existed after the balance sheet date, require disclosure in the accompanying notes.  Management evaluated the activity of the Fund through the date the financial statements were issued, and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.

Boston Capital Tax Credit Fund III L.P.

NOTES TO CONDENSED FINANCIAL STATEMENTS - CONTINUED
September 30, 2018
(Unaudited)

NOTE H - Plan of Liquidation

On March 30, 2016, 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 June 1, 2016, and was adopted by the General Partner on June 1, 2016. Pursuant to the Plan, the General Partner would be 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, if any;

• 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 June 1, 2016. However, because of numerous uncertainties, the liquidation may take longer or shorter than expected, and the final liquidating distributions, if any, may occur months after all of the apartment complexes of any given Series 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 this Annual Report on Form 10-K.

Item 2.  Management's Discussions 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, 2018. 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 Fund'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 six months ended September 30, 2018 or on working capital reserves, (ii) cash distributions from operations of the Operating Partnerships in which the Fund 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 Fund's working capital reserve, are available to meet the obligations of the Partnership.  The Fund does not anticipate significant cash distributions from operations of the Operating Partnerships.

The Fund is currently accruing the fund management fee. Fund management fees accrued during the quarter ended September 30, 2018 were $60,128 and total fund management fees accrued as of September 30, 2018 were $13,699,762. During the three months ended September 30, 2018, $257,970 of accrued fund management fees were paid. Pursuant to the Partnership Agreement, these liabilities will be deferred until the Fund receives proceeds from sales of the Operating Partnerships, which will be used to satisfy these liabilities. The Fund'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 Fund.  The Fund is currently unaware of any trends which would create insufficient liquidity to meet future third party obligations of the Fund.

Capital Resources

The Fund offered BACs in a Public Offering declared effective by the Securities and Exchange Commission on January 24, 1992.  The Fund received $38,705,000, $54,293,000, $50,000,000, $36,162,000 and $40,800,000 representing 3,870,500, 5,429,402, 5,000,000, 3,616,200 and 4,080,000 BACs from investors admitted as BAC Holders in Series 15, Series 16, Series 17, Series 18, and Series 19, respectively.  The Public Offering was completed on December 17, 1993.

(Series 15)  The Fund commenced offering BACs in Series 15 on January 24, 1992.  Offers and sales of BACs in Series 15 were completed on September 26, 1992.  The Fund has committed proceeds to pay initial and additional installments of capital contributions to 68 Operating Partnerships in the amount of $28,257,701. Series 15 has since sold its interest in 60 of the Operating Partnerships.

During the quarter ended September 30, 2018, none of Series 15 net offering proceeds were used to pay capital contributions. No additional net offering proceeds remain to be used by the Fund to pay capital contributions to the Operating Partnerships that Series 15 has invested in as of September 30, 2018.

(Series 16)  The Fund commenced offering BACs in Series 16 on July 13, 1992. Offers and sales of BACs in Series 16 were completed on December 28, 1992. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 64 Operating Partnerships in the amount of $39,579,774. Series 16 has since sold its interest in 52 of the Operating Partnerships.

During the quarter ended September 30, 2018, none of Series 16 net offering proceeds were used to pay capital contributions.  No additional net offering proceeds remain to be used by the Fund to pay capital contributions to the Operating Partnerships that Series 16 has invested in as of September 30, 2018.

(Series 17)  The Fund commenced offering BACs in Series 17 on January 24, 1993.  Offers and sales of BACs in Series 17 were completed on September 17, 1993. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 49 Operating Partnerships in the amount of $36,538,204. Series 17 has since sold its interest in 45 of the Operating Partnerships.

During the quarter ended September 30, 2018, none of Series 17 net offering proceeds were used to pay capital contributions.  Series 17 has contributions payable to 1 Operating Partnership in the amount of $7,893 as of September 30, 2018. The remaining contributions will be released to the Operating Partnership when it has achieved the conditions set forth in its partnership agreement.

(Series 18)  The Fund commenced offering BACs in Series 18 on September 17, 1993. Offers and sales of BACs in Series 18 were completed on September 22, 1993. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 34 Operating Partnerships in the amount of $26,442,202. Series 18 has since sold its interest in 24 of the Operating Partnerships.

During the quarter ended September 30, 2018, none of Series 18 net offering proceeds were used to pay capital contributions.  Series 18 has contributions payable to 2 Operating Partnerships in the amount of $18,554 as of September 30, 2018. The remaining contributions will be released to the Operating Partnerships when they have achieved the conditions set forth in their partnership agreements.

(Series 19) The Fund commenced offering BACs in Series 19 on October 8, 1993. Offers and sales of BACs in Series 19 were completed on December 17, 1993.  The Fund has committed proceeds to pay initial and additional installments of capital contributions to 26 Operating Partnerships in the amount of $29,614,506. Series 19 has since sold its interest in 25 of the Operating Partnerships.

During the quarter ended September 30, 2018, none of Series 19 net offering proceeds were used to pay capital contributions. No additional net offering proceeds remain to be used by the Fund to pay capital contributions to the Operating Partnerships that Series 19 has invested in as of September 30, 2018.

Results of Operations

As of September 30, 2018 and 2017, the Fund held limited partnership interests in 35 and 48 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 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 of the Fund believes that there is adequate casualty insurance on the properties.

The Fund incurs a fund management fee to Boston Capital Asset Management Limited Partnership (formerly Boston Capital Communications Limited Partnership), or BCAMLP, in an amount equal to .5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of various asset management and reporting fees paid by the Operating Partnerships. The fund management fees incurred and the reporting fees paid by the Operating Partnerships for the three and six months ended September 30, 2018 are as follows:

	3 Months Gross Fund Management Fee	3 Months Reporting Fee	3 Months Fund Management Fee Net of Reporting Fee
Series 15	$  8,772	$       -	$   8,772
Series 16	20,021	3,750	16,271
Series 17	12,219	-	12,219
Series 18	15,948	500	15,448
Series 19	3,168	750	2,418
	$ 60,128	$   5,000	$  55,128

	6 Months Gross Fund Management Fee	6 Months Reporting Fee	6 Months Fund Management Fee Net of Reporting Fee
Series 15	$ 19,374	$   3,462	$   15,912
Series 16	40,042	9,286	30,756
Series 17	24,438	3,000	21,438
Series 18	33,999	500	33,499
Series 19	7,683	750	6,933
	$125,536	$  16,998	$  108,538

The Fund's investment objectives do not include receipt of significant cash distributions from the Operating Partnerships in which it has invested or intends to invest.  The Fund'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 15

As of September 30, 2018 and 2017, the average Qualified Occupancy for the series was 100%.  The series had a total of 8 properties September 30, 2018, all of which were at 100% Qualified Occupancy.

For the six month periods ended September 30, 2018 and 2017, Series 15 reflects a net loss from Operating Partnerships of $(70,473) and $(96,594), respectively, which includes depreciation and amortization of $122,439 and $214,199, respectively. This is an interim period estimate; it is not indicative of the final year end results.

Livingston Plaza, Limited (Livingston Plaza) is a 24-unit, family property located in Livingston, Texas. Due to low economic occupancy and a lack of qualified applicants the property operates at or just below breakeven. The operating general partner's operating deficit guarantee has expired. The operating general partner has informed the investment general partner that it is exploring various disposition strategies for this property. The investment general partner has concluded that these strategies would be consistent with the investment objectives of the investment partnership and that it is unlikely that any proceeds will be available for distribution to the investment limited partnership when disposition of the Operating Partnership occurs at some point in the future. The 15-year low income housing tax credit compliance period with respect to Livingston Plaza expired on December 31, 2008.

In May 2017, the investment general partner transferred its interest in Calexico Senior Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,716,118 and cash proceeds to the investment partnership of $111,786. Of the total proceeds received, $2,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $109,786 were returned to cash reserves held by Series 15. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $109,786 as of June 30, 2017.

In August 2017, the investment general partner transferred its interest in University Meadows LDHA to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $2,306,546 and cash proceeds to the investment partnership of $140,000. Of the total proceeds received, $23,400 represents reporting fees due to an affiliate of the investment partnership and the balance represents proceeds from the transfer. Of the remaining proceeds, $8,747 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $107,853 were returned to cash reserves held by Series 15. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $107,853 as of September 30, 2017.

In December 2017, the investment general partner transferred its interest in Chestnut Hill Estates, Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $639,888 and cash proceeds to the investment partnership of $25,301. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $23,801 were returned to cash reserves held by Series 15. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $23,801 as of December 31, 2017.

In December 2017, the investment general partner transferred its interest in Sunset Square Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $649,492 and cash proceeds to the investment partnership of $25,301. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $23,801 were returned to cash reserves held by Series 15. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $23,801 as of December 31, 2017.

In June 2018, the investment general partner transferred its interest in Beckwood Manor Eight Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,096,290 and cash proceeds to the investment partnership of $16,000. 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 $12,500 were returned to cash reserves held by Series 15. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $12,500 as of June 30, 2018.

Series 16

As of September 30, 2018 and 2017, the average Qualified Occupancy for the series was 100%. The series had a total of 12 properties at September 30, 2018, all of which were at 100% Qualified Occupancy.

For the six month periods ended September 30, 2018 and 2017, Series 16 reflects a net loss from Operating Partnerships of $(108,389) and $(155,730), respectively, which includes depreciation and amortization of $250,911 and $310,014, respectively. This is an interim period estimate; it is not indicative of the final year end results.

In May 2017, the investment general partner transferred its interest in Mendota Village Apartments to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,728,506 and cash proceeds to the investment partnership of $82,083. Of the total proceeds received, $2,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $80,083 were returned to cash reserves held by Series 16. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $80,083 as of June 30, 2017.

In May 2017, the investment general partner transferred its interest in Tuolumne City Investment Group II to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $1,406,018 and cash proceeds to the investment partnership of $46,850. Of the total proceeds received, $2,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $44,850 were returned to cash reserves held by Series 16. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $44,850 as of June 30, 2017.

In December 2017, the investment general partner transferred its interest in Falcon Ridge Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $817,869 and cash proceeds to the investment partnership of $33,735. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $32,235 were returned to cash reserves held by Series 16. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $32,235 as of December 31, 2017.

In December 2017, the investment general partner transferred its interest in Newport Manor, Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $906,774 and cash proceeds to the investment partnership of $31,626. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $30,126 were returned to cash reserves held by Series 16. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $30,126 as of December 31, 2017.

In January 2018, the investment general partner transferred its interest in Holly Tree Manor of Holly Hill, a Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $783,396 and cash proceeds to the investment partnership of $77,600. Of the total proceeds received, $2,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $75,600 were returned to cash reserves held by Series 16. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $75,600 as of March 31, 2018.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Anson Limited Partnership

Greenfield Properties, LP

Series 17

As of September 30, 2018 and 2017, the average Qualified Occupancy for the series was 100%.  The series had a total of 4 properties at September 30, 2018, all of which were at 100% Qualified Occupancy.

For the six month periods ended September 30, 2018 and 2017, Series 17 reflects a net loss from Operating Partnerships of $(57,404) and $(92,587), respectively, which includes depreciation and amortization of $171,868 and $193,589, respectively. This is an interim period estimate; it is not indicative of the final year end results.

In December 2017, the investment general partner transferred its interest in Oakwood Manor of Bennettsville, A Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $771,031 and cash proceeds to the investment partnership of $24,000. Of the total proceeds received, $2,000 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $22,000 were returned to cash reserves held by Series 17. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $22,000 as of December 31, 2017.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Brewer Street Apartments

Series 18

As of September 30, 2018 and 2017 the average Qualified Occupancy for the series was 100%.  The series had a total of 10 properties at September 30, 2018, all of which were at 100% Qualified Occupancy.

For the six month periods ended September 30, 2018 and 2017, Series 18 reflects a net loss from Operating Partnerships of $(217,433) and $(219,580), respectively, which includes depreciation and amortization of $191,985 and $214,005, respectively. This is an interim period estimate; it is not indicative of the final year end results.

In December 2016, the operating general partner of Chelsea Square Development Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on April 6, 2017. The sales price of the property was $1,150,000, which included the outstanding mortgage balance of approximately $301,393 and cash proceeds to the investment partnership of $513,204. Of the total proceeds received by the investment partnership, $4,500 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $508,704 were returned to cash reserves held by Series 18. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $508,704 as of June 30, 2017.

In April 2017, the investment general partner of Series 18 and Boston Capital Tax Credit Fund IV - Series 20 transferred their respective interests in Virginia Avenue Affordable Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $499,989 and cash proceeds to the investment partnerships of $823,080 and $156,777 for Series 18 and Series 20, respectively. Of the total proceeds received, $7,560 and $1,440, for Series 18 and Series 20, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $815,520 and $155,337, for Series 18 and Series 20, respectively, were returned to cash reserves. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $815,520 and $155,337, for Series 18 and Series 20, respectively, as of June 30, 2018.

The investment general partner will continue to monitor the following Operating Partnerships because of operational or other issues. However, these Operating Partnerships have all exited their LIHTC compliance period and there is therefore no risk to past credit delivery.

Marengo Park Apartments, Limited Partnership

Humboldt I, Limited Partnership

Natchitoches Elderly Apartments, Limited Partnership

Leesville Elderly Apartments, an LA Partnership

Series 19

As of September 30, 2018 and 2017 the average Qualified Occupancy for the series was 100%.  The series had a total of 1 property at September 30, 2018, which was at 100% Qualified Occupancy.

For the six month periods ended September 30, 2018 and 2017, Series 19 reflects a net loss from Operating Partnerships of $(13,814) and $(68,600), respectively, which includes depreciation and amortization of $4,898 and $82,976, respectively. This is an interim period estimate; it is not indicative of the final year end results.

In November 2017, the investment general partner transferred its interest in Independence Properties, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $743,037 and cash proceeds to the investment partnership of $24,000. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $21,500 were returned to cash reserves held by Series 19. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $21,500 as of December 31, 2017.

In December 2017, the investment general partner transferred its interest in Munford Village, Limited to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $702,560 and cash proceeds to the investment partnership of $25,301. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $23,801 were returned to cash reserves held by Series 19. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $23,801 as of December 31, 2017.

In December 2017, the investment general partner transferred its interest in Sherwood Knoll, Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $689,460 and cash proceeds to the investment partnership of $25,301. Of the total proceeds received, $1,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $23,801 were returned to cash reserves held by Series 19. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $23,801 as of December 31, 2017.

In April 2018, the investment general partner transferred its interest in Madison Limited Partnership to a non-affiliated entity for its assumption of the outstanding mortgage balance of approximately $571,026 and no cash proceeds to the investment partnership. There were no cash proceeds available to pay expenses related to the transfer and no proceeds were returned to cash reserves held by Series 19. 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, no gain or loss on the transfer of the Operating Partnership, net of the overhead and expense reimbursement, has been recorded as of June 30, 2018.

In May 2018, the investment general partner transferred its interest in Summerset Housing Limited Partnership to entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $839,048 and cash proceeds to the investment partnership of $15,500. Of the total proceeds received, $2,500 was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $13,000 will be returned to cash reserves held by Series 19. 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, net of the overhead and expense reimbursement, has been recorded in the amount of $13,000 as of June 30, 2018.

Off Balance Sheet Arrangements

None.

Principal Accounting Policies and Estimates

The condensed financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), which require the Fund 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 Fund's financial condition and results of operations. The Fund 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 Fund is required to assess potential impairments to its long-lived assets, which are primarily investments in limited partnerships. The Fund accounts for its investment in limited partnerships in accordance with the equity method of accounting since the Fund 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 Fund'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 Fund and the estimated residual value to the Fund, the Fund reduces its investment in the Operating Partnership.

In accordance with the accounting guidance for the consolidation of variable interest entities, the Fund 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 Fund 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 Fund'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 Fund 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 Fund's balance in investment in Operating Partnerships plus advances made to Operating Partnerships represents its maximum exposure to loss.  The Fund'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 Fund.

Item 3.	Quantitative and Qualitative Disclosures 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 Fund'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 Fund'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 Fund as a whole. Based on that evaluation, the Fund's Principal Executive Officer and Principal Financial Officer have concluded that as of the end of the period covered by this report, the Fund's disclosure controls and procedures were effective to ensure that information relating to any series or the Fund 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 Fund's management, including the Fund's Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure with respect to each series individually, as well as the Fund as a whole.
	(b)	Changes in Internal Controls
		There were no changes in the Fund's internal control over financial reporting that occurred during the quarter ended September 30, 2018 that materially affected, or are reasonably likely to materially affect, the Fund'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, 2018.
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 herewith BCTC III CERT 302
		31.b Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of Marc N. Teal, Principal Financial Officer, filed herein BCTC III CERT 302
		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 BCTC III CERT 906
		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 BCTC III CERT 906 101. The following materials from the Boston Capital Tax Credit Fund III, L.P. Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2018 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, filed herein

SIGNATURES

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

	Boston Capital Tax Credit Fund III L.P.
	By:	Boston Capital Associates III L.P.
		General Partner
	By:	BCA Associates Limited Partnership,
		General Partner
	By:	C&M Management Inc.,
		General Partner
Date: November 13, 2018	By:	/s/ John P. Manning
		John P. Manning

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

DATE:	SIGNATURE:	TITLE:
November 13, 2018	/s/ John P. Manning	Director, President (Principal Executive Officer) C&M Management Inc.; Director, President (Principal Executive Officer) BCTC III Assignor Corp.
	John P. Manning

DATE:	SIGNATURE:	TITLE:
November 13, 2018	/s/ Marc N. Teal	Director, President (Principal Executive Officer) C&M Management Inc.; Director, President (Principal Executive Officer) BCTC III Assignor Corp.
	Marc N. Teal

EX-31

Exhibit 31.a

I, John P. Manning, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Boston Capital Tax Credit Fund III L.P.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))for the registrant and have:

1. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
2. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
3. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
4. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

1. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

1. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
2. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 13, 2018	/s/ John P. Manning
	John P. Manning
	Principal Executive Officer

EX-31

Exhibit 31.b

I, Marc Teal, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Boston Capital Tax Credit Fund III L.P.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))for the registrant and have:

1. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
2. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
3. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
4. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

1. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

1. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
2. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 13, 2018	/s/ Marc N. Teal      ___
	Marc N. Teal, Principal Financial Officer

EX-32

EXHIBIT 32.a

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Boston Capital Tax Credit Fund III L.P. (the "Fund") on Form 10-Q for the period ended September 30, 2018 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, John P. Manning, Principal Executive Officer of the general partner of the general partner of the Fund's general partner, C&M Management Inc., certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge, after due inquiry:

(1)	The Report fully complies with the requirements of section 13(a)-15 or 15(d)-15 of the Securities and Exchange Act of 1934; and
(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.

Date:
November 13, 2018	/s/ John P. Manning
	John P. Manning
	Principal Executive Officer

A signed original of this written statement required by Section 906, or other

document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Fund and will be retained by the Fund and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32

EXHIBIT 32.b

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Boston Capital Tax Credit Fund III L.P. (the "Fund") on Form 10-Q for the period ended September 30, 2018 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Marc N. Teal, Principal Financial Officer of the general partner of the general partner of the Fund's general partner, C&M Management Inc., certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge, after due inquiry:

(1)	The Report fully complies with the requirements of section 13(a)-15 or 15(d)-15 of the Securities and Exchange Act of 1934; and
(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.

Date:
November 13, 2018	/s/ Marc N. Teal
	Marc. N. Teal
	Principal Financial Officer

A signed original of this written statement required by Section 906, or other

document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Fund and will be retained by the Fund and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document And Entity Information	6 Months Ended
	Sep. 30, 2018 shares
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	BOSTON CAPITAL TAX CREDIT FUND III L P
Entity Central Index Key	0000879555
Current Fiscal Year End Date	--03-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	0
Entity Emerging Growth Company	false
Entity Small Business	true

XML

CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2018	Mar. 31, 2018
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS(Note D)	$ 0	$ 0
OTHER ASSETS
Cash and cash equivalents	1,278,877	1,632,938
Assets	1,278,877	1,632,938
LIABILITIES
Accounts payable & accrued expenses	0	2,000
Accounts payable affiliates (Note C)	13,699,762	14,740,050
Capital contributions payable (Note D)	26,447	26,447
Liabilities	13,726,209	14,768,497
PARTNERS' CAPITAL (DEFICIT)
Assignees Units of limited partnership interest	(10,567,129)	(11,248,474)
General Partner	(1,880,203)	(1,887,085)
Partners' capital (deficit)	(12,447,332)	(13,135,559)
Liabilities and Stockholders' Equity	1,278,877	1,632,938
Series 15 [Member]
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS(Note D)	0	0
OTHER ASSETS
Cash and cash equivalents	165,712	244,074
Assets	165,712	244,074
LIABILITIES
Accounts payable & accrued expenses	0	0
Accounts payable affiliates (Note C)	2,991,310	3,034,436
Capital contributions payable (Note D)	0	0
Liabilities	2,991,310	3,034,436
PARTNERS' CAPITAL (DEFICIT)
Assignees Units of limited partnership interest	(2,475,153)	(2,440,269)
General Partner	(350,445)	(350,093)
Partners' capital (deficit)	(2,825,598)	(2,790,362)
Liabilities and Stockholders' Equity	165,712	244,074
Series 16 [Member]
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS(Note D)	0	0
OTHER ASSETS
Cash and cash equivalents	136,758	320,396
Assets	136,758	320,396
LIABILITIES
Accounts payable & accrued expenses	0	2,000
Accounts payable affiliates (Note C)	7,774,800	7,890,441
Capital contributions payable (Note D)	0	0
Liabilities	7,774,800	7,892,441
PARTNERS' CAPITAL (DEFICIT)
Assignees Units of limited partnership interest	(7,095,054)	(7,029,717)
General Partner	(542,988)	(542,328)
Partners' capital (deficit)	(7,638,042)	(7,572,045)
Liabilities and Stockholders' Equity	136,758	320,396
Series 17 [Member]
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS(Note D)	0	0
OTHER ASSETS
Cash and cash equivalents	590,156	536,326
Assets	590,156	536,326
LIABILITIES
Accounts payable & accrued expenses	0	0
Accounts payable affiliates (Note C)	0	0
Capital contributions payable (Note D)	7,893	7,893
Liabilities	7,893	7,893
PARTNERS' CAPITAL (DEFICIT)
Assignees Units of limited partnership interest	948,648	895,356
General Partner	(366,385)	(366,923)
Partners' capital (deficit)	582,263	528,433
Liabilities and Stockholders' Equity	590,156	536,326
Series 18 [Member]
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS(Note D)	0	0
OTHER ASSETS
Cash and cash equivalents	225,223	351,136
Assets	225,223	351,136
LIABILITIES
Accounts payable & accrued expenses	0	0
Accounts payable affiliates (Note C)	2,933,652	3,815,173
Capital contributions payable (Note D)	18,554	18,554
Liabilities	2,952,206	3,833,727
PARTNERS' CAPITAL (DEFICIT)
Assignees Units of limited partnership interest	(2,389,485)	(3,137,537)
General Partner	(337,498)	(345,054)
Partners' capital (deficit)	(2,726,983)	(3,482,591)
Liabilities and Stockholders' Equity	225,223	351,136
Series 19 [Member]
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS(Note D)	0	0
OTHER ASSETS
Cash and cash equivalents	161,028	181,006
Assets	161,028	181,006
LIABILITIES
Accounts payable & accrued expenses	0	0
Accounts payable affiliates (Note C)	0	0
Capital contributions payable (Note D)	0	0
Liabilities	0	0
PARTNERS' CAPITAL (DEFICIT)
Assignees Units of limited partnership interest	443,915	463,693
General Partner	(282,887)	(282,687)
Partners' capital (deficit)	161,028	181,006
Liabilities and Stockholders' Equity	$ 161,028	$ 181,006

XML

CONDENSED BALANCE SHEETS [Parenthetical] - $ / shares	Sep. 30, 2018	Mar. 31, 2018	Sep. 04, 1993
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10	$ 10
Units of limited partnership interest, authorized	22,000,000	22,000,000	20,000,000
Units of limited partnership interest, issued	21,996,102	21,996,102
Units of limited partnership interest, outstanding	21,778,581	21,778,581
Series 15 [Member]
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	22,000,000	22,000,000
Units of limited partnership interest, issued	3,870,500	3,870,500
Units of limited partnership interest, outstanding	3,811,700	3,811,700
Series 16 [Member]
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	22,000,000	22,000,000
Units of limited partnership interest, issued	5,429,402	5,429,402
Units of limited partnership interest, outstanding	5,367,700	5,367,700
Series 17 [Member]
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	22,000,000	22,000,000
Units of limited partnership interest, issued	5,000,000	5,000,000
Units of limited partnership interest, outstanding	4,956,447	4,956,447
Series 18 [Member]
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	22,000,000	22,000,000
Units of limited partnership interest, issued	3,616,200	3,616,200
Units of limited partnership interest, outstanding	3,586,734	3,586,734
Series 19 [Member]
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	22,000,000	22,000,000
Units of limited partnership interest, issued	4,080,000	4,080,000
Units of limited partnership interest, outstanding	4,056,000	4,056,000

XML

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income
Interest income	$ 2,891	$ 821	$ 6,597	$ 1,516
Other income	100,693	3,337	110,969	15,375
Total income	103,584	4,158	117,566	16,891
Share of Income from Operating Partnerships(Note D)	0	107,853	841,020	851,276
Expenses
Professional fees	14,080	79,644	103,137	101,694
Fund management fee, net (Note C)	55,128	68,375	108,538	124,772
General and administrative expenses	36,626	31,459	58,684	52,983
Operating expenses	105,834	179,478	270,359	279,449
NET INCOME (LOSS)	(2,250)	(67,467)	688,227	588,718
Net income (loss) allocated to limited assignees	(2,228)	(66,794)	681,345	582,832
Net income (loss) allocated to general partner	$ (22)	$ (673)	$ 6,882	$ 5,886
Net income (loss) per BAC	$ 0.00	$ 0.00	$ 0.03	$ 0.03
Series 15 [Member]
Income
Interest income	$ 367	$ 28	$ 800	$ 40
Other income	0	321	0	321
Total income	367	349	800	361
Share of Income from Operating Partnerships(Note D)	0	107,853	12,500	217,639
Expenses
Professional fees	2,960	16,307	21,240	21,032
Fund management fee, net (Note C)	8,772	4,551	15,912	5,844
General and administrative expenses	7,138	6,064	11,384	10,299
Operating expenses	18,870	26,922	48,536	37,175
NET INCOME (LOSS)	(18,503)	81,280	(35,236)	180,825
Net income (loss) allocated to limited assignees	(18,318)	80,467	(34,884)	179,017
Net income (loss) allocated to general partner	$ (185)	$ 813	$ (352)	$ 1,808
Net income (loss) per BAC	$ 0.00	$ 0.02	$ (0.01)	$ 0.05
Series 16 [Member]
Income
Interest income	$ 415	$ 326	$ 864	$ 596
Other income	1,677	2,000	1,878	2,080
Total income	2,092	2,326	2,742	2,676
Share of Income from Operating Partnerships(Note D)	0	0	0	124,933
Expenses
Professional fees	3,200	21,033	24,625	26,808
Fund management fee, net (Note C)	16,271	22,463	30,756	38,003
General and administrative expenses	8,161	7,053	13,358	11,893
Operating expenses	27,632	50,549	68,739	76,704
NET INCOME (LOSS)	(25,540)	(48,223)	(65,997)	50,905
Net income (loss) allocated to limited assignees	(25,285)	(47,741)	(65,337)	50,396
Net income (loss) allocated to general partner	$ (255)	$ (482)	$ (660)	$ 509
Net income (loss) per BAC	$ 0.00	$ (0.01)	$ (0.01)	$ 0.01
Series 17 [Member]
Income
Interest income	$ 1,294	$ 348	$ 2,132	$ 641
Other income	98,000	0	108,075	11,958
Total income	99,294	348	110,207	12,599
Share of Income from Operating Partnerships(Note D)	0	0	0	0
Expenses
Professional fees	2,480	15,990	22,812	19,840
Fund management fee, net (Note C)	12,219	12,611	21,438	22,125
General and administrative expenses	7,541	6,583	12,127	11,033
Operating expenses	22,240	35,184	56,377	52,998
NET INCOME (LOSS)	77,054	(34,836)	53,830	(40,399)
Net income (loss) allocated to limited assignees	76,283	(34,488)	53,292	(39,995)
Net income (loss) allocated to general partner	$ 771	$ (348)	$ 538	$ (404)
Net income (loss) per BAC	$ 0.02	$ (0.01)	$ 0.01	$ (0.01)
Series 18 [Member]
Income
Interest income	$ 496	$ 101	$ 2,168	$ 199
Other income	933	933	933	933
Total income	1,429	1,034	3,101	1,132
Share of Income from Operating Partnerships(Note D)	0	0	815,520	508,704
Expenses
Professional fees	2,900	14,535	18,675	18,910
Fund management fee, net (Note C)	15,448	20,707	33,499	41,964
General and administrative expenses	6,840	5,735	10,839	9,714
Operating expenses	25,188	40,977	63,013	70,588
NET INCOME (LOSS)	(23,759)	(39,943)	755,608	439,248
Net income (loss) allocated to limited assignees	(23,521)	(39,544)	748,052	434,856
Net income (loss) allocated to general partner	$ (238)	$ (399)	$ 7,556	$ 4,392
Net income (loss) per BAC	$ (0.01)	$ (0.01)	$ 0.21	$ 0.12
Series 19 [Member]
Income
Interest income	$ 319	$ 18	$ 633	$ 40
Other income	83	83	83	83
Total income	402	101	716	123
Share of Income from Operating Partnerships(Note D)	0	0	13,000	0
Expenses
Professional fees	2,540	11,779	15,785	15,104
Fund management fee, net (Note C)	2,418	8,043	6,933	16,836
General and administrative expenses	6,946	6,024	10,976	10,044
Operating expenses	11,904	25,846	33,694	41,984
NET INCOME (LOSS)	(11,502)	(25,745)	(19,978)	(41,861)
Net income (loss) allocated to limited assignees	(11,387)	(25,488)	(19,778)	(41,442)
Net income (loss) allocated to general partner	$ (115)	$ (257)	$ (200)	$ (419)
Net income (loss) per BAC	$ 0.00	$ (0.01)	$ 0.00	$ (0.01)

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CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT) - 6 months ended Sep. 30, 2018 - USD ($)	Total	Assignees [Member]	General partner [Member]	Series 15 [Member]	Series 15 [Member] Assignees [Member]	Series 15 [Member] General partner [Member]	Series 16 [Member]	Series 16 [Member] Assignees [Member]	Series 16 [Member] General partner [Member]	Series 17 [Member]	Series 17 [Member] Assignees [Member]	Series 17 [Member] General partner [Member]	Series 18 [Member]	Series 18 [Member] Assignees [Member]	Series 18 [Member] General partner [Member]	Series 19 [Member]	Series 19 [Member] Assignees [Member]	Series 19 [Member] General partner [Member]
Partners' capital (deficit) at Mar. 31, 2018	$ (13,135,559)	$ (11,248,474)	$ (1,887,085)	$ (2,790,362)	$ (2,440,269)	$ (350,093)	$ (7,572,045)	$ (7,029,717)	$ (542,328)	$ 528,433	$ 895,356	$ (366,923)	$ (3,482,591)	$ (3,137,537)	$ (345,054)	$ 181,006	$ 463,693	$ (282,687)
Net income (loss)	688,227	681,345	6,882	(35,236)	(34,884)	(352)	(65,997)	(65,337)	(660)	53,830	53,292	538	755,608	748,052	7,556	(19,978)	(19,778)	(200)
Partners' capital (deficit) at Sep. 30, 2018	$ (12,447,332)	$ (10,567,129)	$ (1,880,203)	$ (2,825,598)	$ (2,475,153)	$ (350,445)	$ (7,638,042)	$ (7,095,054)	$ (542,988)	$ 582,263	$ 948,648	$ (366,385)	$ (2,726,983)	$ (2,389,485)	$ (337,498)	$ 161,028	$ 443,915	$ (282,887)

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net Income (Loss)	$ (2,250)	$ (67,467)	$ 688,227	$ 588,718
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	0	(107,853)	(841,020)	(851,276)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses			(2,000)	(17,853)
(Decrease) Increase in accounts payable affiliates			(1,040,288)	(9,045)
Net cash (used in) provided by operating activities			(1,195,081)	(289,456)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships			841,020	851,276
Net cash provided by investing activities			841,020	851,276
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(354,061)	561,820
Cash and cash equivalents, beginning			1,632,938	1,460,257
Cash and cash equivalents, ending	1,278,877	2,022,077	1,278,877	2,022,077
Series 15 [Member]
Cash flows from operating activities:
Net Income (Loss)	(18,503)	81,280	(35,236)	180,825
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	0	(107,853)	(12,500)	(217,639)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses			0	3,647
(Decrease) Increase in accounts payable affiliates			(43,126)	19,206
Net cash (used in) provided by operating activities			(90,862)	(13,961)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships			12,500	217,639
Net cash provided by investing activities			12,500	217,639
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(78,362)	203,678
Cash and cash equivalents, beginning			244,074	64,641
Cash and cash equivalents, ending	165,712	268,319	165,712	268,319
Series 16 [Member]
Cash flows from operating activities:
Net Income (Loss)	(25,540)	(48,223)	(65,997)	50,905
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	0	0	0	(124,933)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses			(2,000)	0
(Decrease) Increase in accounts payable affiliates			(115,641)	(73,314)
Net cash (used in) provided by operating activities			(183,638)	(147,342)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships			0	124,933
Net cash provided by investing activities			0	124,933
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(183,638)	(22,409)
Cash and cash equivalents, beginning			320,396	327,901
Cash and cash equivalents, ending	136,758	305,492	136,758	305,492
Series 17 [Member]
Cash flows from operating activities:
Net Income (Loss)	77,054	(34,836)	53,830	(40,399)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	0	0	0	0
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses			0	(14,000)
(Decrease) Increase in accounts payable affiliates			0	0
Net cash (used in) provided by operating activities			53,830	(54,399)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships			0	0
Net cash provided by investing activities			0	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			53,830	(54,399)
Cash and cash equivalents, beginning			536,326	559,787
Cash and cash equivalents, ending	590,156	505,388	590,156	505,388
Series 18 [Member]
Cash flows from operating activities:
Net Income (Loss)	(23,759)	(39,943)	755,608	439,248
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	0	0	(815,520)	(508,704)
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses			0	0
(Decrease) Increase in accounts payable affiliates			(881,521)	45,063
Net cash (used in) provided by operating activities			(941,433)	(24,393)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships			815,520	508,704
Net cash provided by investing activities			815,520	508,704
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(125,913)	484,311
Cash and cash equivalents, beginning			351,136	318,027
Cash and cash equivalents, ending	225,223	802,338	225,223	802,338
Series 19 [Member]
Cash flows from operating activities:
Net Income (Loss)	(11,502)	(25,745)	(19,978)	(41,861)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities
Share of Income from Operating Partnerships	0	0	(13,000)	0
Changes in assets and liabilities
(Decrease) Increase in accounts payable and accrued expenses			0	(7,500)
(Decrease) Increase in accounts payable affiliates			0	0
Net cash (used in) provided by operating activities			(32,978)	(49,361)
Cash flows from investing activities:
Proceeds from the disposition of Operating Partnerships			13,000	0
Net cash provided by investing activities			13,000	0
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(19,978)	(49,361)
Cash and cash equivalents, beginning			181,006	189,901
Cash and cash equivalents, ending	$ 161,028	$ 140,540	$ 161,028	$ 140,540

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ORGANIZATION

6 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]

NOTE A - ORGANIZATION

Boston Capital Tax Credit Fund III L.P. (the "Fund") was formed under the laws of the State of Delaware as of September 19, 1991 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 Fund's general partner was reorganized as follows. The general partner of the Fund continues to be Boston Capital Associates III L.P., a Delaware limited partnership. The general partner of the general partner of the Fund is now BCA Associates Limited Partnership, a Massachusetts limited partnership, whose sole general partner is C&M Management, Inc., a Massachusetts corporation 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 various officers and employees of Boston Capital Partners, Inc. and its affiliates. The assignor limited partner is BCTC III Assignor Corp., a Delaware corporation which is wholly-owned by Herbert F. Collins and John P. Manning.

Pursuant to the Securities Act of 1933, the Fund filed a Form S-11 Registration Statement with the Securities and Exchange Commission, effective January 24, 1992 which covered the offering (the "Public Offering") of the Fund's beneficial assignee certificates ("BACs") representing assignments of units of the beneficial interest of the limited partnership interest of the assignor limited partner.  The Fund registered 20,000,000 BACs at $10 per BAC for sale to the public in one or more series.  On September 4, 1993 the Fund filed an amendment to Form S-11 with the Securities and Exchange Commission which registered an additional 2,000,000 BACs at $10 per BAC for sale to the public in one or more series. The registration for the additional BACs became effective on October 6, 1993. Offers and sales of BACs in Series 15 through 19 of the Fund were completed and the last of the BACs in Series 15, 16, 17, 18 and 19 were issued by the Fund on September 26, 1992, December 28, 1992, September 17, 1993, September 22, 1993, and December 17, 1993, respectively.  The Fund sold 3,870,500 of Series 15 BACs, for a total of $38,705,000; 5,429,402 of Series 16 BACs, for a total of $54,293,000; 5,000,000 of Series 17 BACs, for a total of $50,000,000; 3,616,200 of Series 18 BACs, for a total of $36,162,000; and 4,080,000 of Series 19 BACs, for a total of $40,800,000.  As of September 30, 2018, 3,811,700 BACs in Series 15, 5,367,700 BACs in Series 16, 4,956,447 BACs in Series 17, 3,586,734 BACs in Series 18, and 4,056,000 BACs in Series 19, respectively, are outstanding. The Fund issued the last BACs in Series 19 on December 17, 1993.  This concluded the Public Offering of the Fund.

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ACCOUNTING AND FINANCIAL REPORTING POLICIES

6 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements included herein as of September 30, 2018 and for the three and six months then ended have been prepared by the Fund, without audit. The Fund accounts for its investments in Operating Partnerships using the equity method, whereby the Fund adjusts its investment cost for its share of each Operating Partnership's results of operations and for any distributions received or accrued.  Costs incurred by the Fund in acquiring the investments in the Operating Partnerships are capitalized to the investment account.

The Fund'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 notes thereto included in the Fund's Annual Report on Form 10-K for the fiscal year ended March 31, 2018. 

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RELATED PARTY TRANSACTIONS

6 Months Ended

Sep. 30, 2018

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE C - RELATED PARTY TRANSACTIONS

The Fund has entered into several transactions with various affiliates of its general partner, including Boston Capital Holdings LP, Boston Capital Partners, Inc., and Boston Capital Asset Management Limited Partnership, as follows:

An annual fund 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. The fund management fees accrued for the three months ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$  8,772	$ 27,201
Series 16	20,021	24,663
Series 17	12,219	13,611
Series 18	15,948	22,257
Series 19	3,168	8,793
	$ 60,128	$ 96,525

The fund management fees paid for the three months ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$  62,500	$       -
Series 16	80,083	-
Series 17	12,219	13,611
Series 18	100,000	-
Series 19	3,168	8,793
	$ 257,970	$  22,404

 The fund management fees paid for the six months ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$   62,500	$  16,000
Series 16	155,683	124,615
Series 17	24,438	27,222
Series 18	915,520	-
Series 19	7,683	17,586
	$1,165,824	$ 185,423

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INVESTMENTS IN OPERATING PARTNERSHIPS

6 Months Ended

Sep. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments Disclosure [Text Block]

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At September 30, 2018 and 2017, the Fund had limited partnership interests in 35 and 48 Operating Partnerships, respectively, which own or are constructing apartment complexes. The breakdown of Operating Partnerships within the Fund at September 30, 2018 and 2017 is as follows:

	2018	2017
Series 15	8	11
Series 16	12	15
Series 17	4	5
Series 18	10	11
Series 19	1	6
	35	48

Under the terms of the Fund's investment in each Operating Partnership, the Fund is required to make capital contributions to the Operating Partnerships.  These contributions are payable in installments over several years upon each Operating Partnership achieving specified levels of construction and/or operations. The contributions payable at September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$      -	$      -
Series 16	-	-
Series 17	7,893	7,893
Series 18	18,554	18,554
Series 19	-	-
	$ 26,447	$ 26,447

During the six months ended September 30, 2018 the Fund disposed of four Operating Partnerships. A summary of the dispositions by Series for September 30, 2018 is as follows:

	Operating Partnership Interest Transferred	Sale of Underlying Operating Partnership	Fund Proceeds from Disposition		Gain on Disposition
Series 15	1	-	$	12,500	$	12,500
Series 16	-	-		-		-
Series 17	-	-		-		-
Series 18	1	-		815,520		815,520
Series 19	2	-		13,000		13,000
Total	4	-	$	841,020	$	841,020

During the six months ended September 30, 2017 the Fund disposed of five Operating Partnerships. A summary of the dispositions by Series for September 30, 2017 is as follows:

	Operating Partnership Interest Transferred	Sale of Underlying Operating Partnership	Fund Proceeds from Disposition		Gain on Disposition
Series 15	2	-	$	217,639	$	217,639
Series 16	2	-		124,933		124,933
Series 17	-	-		-		-
Series 18	-	1		508,704		508,704
Series 19	-	-		-		-
Total	4	1	$	851,276	$	851,276

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 Fund’s investment in the Operating Partnership. As a result, the amount of gain recognized for tax purposes may be significantly higher than the gain recorded in the condensed financial statements.

The Fund's fiscal year ends March 31st 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 Fund within 45 days after the close of each Operating Partnerships quarterly period. Accordingly, the current financial results available for the Operating Partnerships are for the six months ended June 30, 2018.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

	2018	2017
Revenues
Rental	$ 3,039,627	$ 3,973,482
Interest and other	60,035	88,405
	3,099,662	4,061,887
Expenses
Interest	347,505	488,742
Depreciation and amortization	742,101	1,014,783
Operating expenses	2,477,569	3,191,453
	3,567,175	4,694,978
NET LOSS	$ (467,513)	$ (633,091)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$ (462,837)	$ (626,759)
Net loss allocated to other     Partners	$   (4,676)	$   (6,332)

* Amounts include $462,837 and $626,759 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

Series 15

	2018	2017
Revenues
Rental	$   502,625	$  830,763
Interest and other	10,626	18,488
	513,251	849,251
Expenses
Interest	36,618	101,623
Depreciation and amortization	122,439	214,199
Operating expenses	424,667	630,023
	583,724	945,845
NET LOSS	$  (70,473)	$  (96,594)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$  (69,768)	$  (95,628)
Net loss allocated to other     Partners	$   (705)	$    (966)

* Amounts include $69,768 and $95,628 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

Series 16

	2018	2017
Revenues
Rental	$ 1,062,557	$ 1,263,091
Interest and other	12,948	26,614
	1,075,505	1,289,705
Expenses
Interest	119,051	145,485
Depreciation and amortization	250,911	310,014
Operating expenses	813,932	989,936
	1,183,894	1,445,435
NET LOSS	$  (108,389)	$  (155,730)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$  (107,305)	$  (154,173)
Net loss allocated to other     Partners	$   (1,084)	$    (1,557)

* Amounts include $107,305 and $154,173 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

Series 17

	2018	2017
Revenues
Rental	$   579,160	$   635,359
Interest and other	11,751	12,045
	590,911	647,404
Expenses
Interest	53,055	62,075
Depreciation and amortization	171,868	193,589
Operating expenses	423,392	484,327
	648,315	739,991
NET LOSS	$  (57,404)	$  (92,587)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$  (56,829)	$  (91,660)
Net loss allocated to other     Partners	$     (575)	$     (927)

* Amounts include $56,829 and $91,660 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

Series 18

	2018	2017
Revenues
Rental	$    805,458	$    868,114
Interest and other	16,959	20,281
	822,417	888,395
Expenses
Interest	132,168	138,873
Depreciation and amortization	191,985	214,005
Operating expenses	715,697	755,097
	1,039,850	1,107,975
NET LOSS	$   (217,433)	$   (219,580)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$   (215,259)	$   (217,384)
Net loss allocated to other     Partners	$    (2,174)	$    (2,196)

* Amounts include $215,259 and $217,384 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

Series 19

	2018	2017
Revenues
Rental	$     89,827	$    376,155
Interest and other	7,751	10,977
	97,578	387,132
Expenses
Interest	6,613	40,686
Depreciation and amortization	4,898	82,976
Operating expenses	99,881	332,070
	111,392	455,732
NET LOSS	$   (13,814)	$   (68,600)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$   (13,676)	$   (67,914)
Net loss allocated to other     Partners	$    (138)	$     (686)

* Amounts include $13,676 and $67,914 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

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TAXABLE LOSS

6 Months Ended

Sep. 30, 2018

Taxable Loss [Abstract]

Taxable Loss [Text Block]

NOTE E - TAXABLE LOSS

The Fund's taxable loss 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.

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INCOME TAXES

6 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

Income Tax Relating To Partnership Disclosure [Text Block]

NOTE F - INCOME TAXES

The Fund 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 Fund’s federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Fund is not required to take any tax positions in order to qualify as a pass-through entity. The Fund 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 Fund has no other tax positions which must be considered for disclosure. Income tax returns filed by the Fund 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 2014 remain open.

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SUBSEQUENT EVENTS

6 Months Ended

Sep. 30, 2018

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE G - SUBSEQUENT EVENTS

Events that occur after the balance sheet date but before the financial statements were available to be issued must be evaluated for recognition or disclosure.  The effects of subsequent events that provide evidence about conditions that existed at the balance sheet date are recognized in the accompanying financial statements. Subsequent events, which provide evidence about conditions that existed after the balance sheet date, require disclosure in the accompanying notes.  Management evaluated the activity of the Fund through the date the financial statements were issued, and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.

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Plan of Liquidation

6 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Liquidation Basis of Accounting [Text Block]

NOTE H - Plan of Liquidation

On March 30, 2016, 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 June 1, 2016, and was adopted by the General Partner on June 1, 2016. Pursuant to the Plan, the General Partner would be 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, if any;

· 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 June 1, 2016. However, because of numerous uncertainties, the liquidation may take longer or shorter than expected, and the final liquidating distributions, if any, may occur months after all of the apartment complexes of any given Series 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 this Annual Report on Form 10-K.

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RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Sep. 30, 2018

Related Party Transactions [Abstract]

Schedule Of Gross Management Fee [Table Text Block]

The fund management fees accrued for the three months ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$  8,772	$ 27,201
Series 16	20,021	24,663
Series 17	12,219	13,611
Series 18	15,948	22,257
Series 19	3,168	8,793
	$ 60,128	$ 96,525

Schedule Of Management Fees Paid [Table Text Block]

The fund management fees paid for the three months ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$ 62,500	$ -
Series 16	80,083	-
Series 17	12,219	13,611
Series 18	100,000	-
Series 19	3,168	8,793
	$ 257,970	$ 22,404

The fund management fees paid for the six months ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$   62,500	$ 16,000
Series 16	155,683	124,615
Series 17	24,438	27,222
Series 18	915,520	-
Series 19	7,683	17,586
	$1,165,824	$ 185,423

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INVESTMENTS IN OPERATING PARTNERSHIPS (Tables)

6 Months Ended

Sep. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

Schedule Of Number Of Operating Partnerships [Table Text Block]

At September 30, 2018 and 2017, the Fund had limited partnership interests in 35 and 48 Operating Partnerships, respectively, which own or are constructing apartment complexes. The breakdown of Operating Partnerships within the Fund at September 30, 2018 and 2017 is as follows:

	2018	2017
Series 15	8	11
Series 16	12	15
Series 17	4	5
Series 18	10	11
Series 19	1	6
	35	48

Schedule Of Contributions Payable [Table Text Block]

Under the terms of the Fund's investment in each Operating Partnership, the Fund is required to make capital contributions to the Operating Partnerships.  These contributions are payable in installments over several years upon each Operating Partnership achieving specified levels of construction and/or operations. The contributions payable at September 30, 2018 and 2017 are as follows:

	2018	2017
Series 15	$      -	$      -
Series 16	-	-
Series 17	7,893	7,893
Series 18	18,554	18,554
Series 19	-	-
	$ 26,447	$ 26,447

Schedule Of Dispositions By Series [Table Text Block]

During the six months ended September 30, 2018 the Fund disposed of four Operating Partnerships. A summary of the dispositions by Series for September 30, 2018 is as follows:

	Operating Partnership Interest Transferred	Sale of Underlying Operating Partnership	Fund Proceeds from Disposition		Gain on Disposition
Series 15	1	-	$	12,500	$	12,500
Series 16	-	-		-		-
Series 17	-	-		-		-
Series 18	1	-		815,520		815,520
Series 19	2	-		13,000		13,000
Total	4	-	$	841,020	$	841,020

During the six months ended September 30, 2017 the Fund disposed of five Operating Partnerships. A summary of the dispositions by Series for September 30, 2017 is as follows:

	Operating Partnership Interest Transferred	Sale of Underlying Operating Partnership	Fund Proceeds from Disposition		Gain on Disposition
Series 15	2	-	$	217,639	$	217,639
Series 16	2	-		124,933		124,933
Series 17	-	-		-		-
Series 18	-	1		508,704		508,704
Series 19	-	-		-		-
Total	4	1	$	851,276	$	851,276

Schedule Of Summarized Statement Of Operations In Operating Partnerships [Table Text Block]

The Fund's fiscal year ends March 31st 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 Fund within 45 days after the close of each Operating Partnerships quarterly period. Accordingly, the current financial results available for the Operating Partnerships are for the six months ended June 30, 2018.

COMBINED CONDENSED SUMMARIZED STATEMENTS OF OPERATIONS

Six Months Ended June 30,

(Unaudited)

	2018	2017
Revenues
Rental	$ 3,039,627	$ 3,973,482
Interest and other	60,035	88,405
	3,099,662	4,061,887
Expenses
Interest	347,505	488,742
Depreciation and amortization	742,101	1,014,783
Operating expenses	2,477,569	3,191,453
	3,567,175	4,694,978
NET LOSS	$ (467,513)	$ (633,091)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$ (462,837)	$ (626,759)
Net loss allocated to other     Partners	$   (4,676)	$   (6,332)

* Amounts include $462,837 and $626,759 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

Series 15

	2018	2017
Revenues
Rental	$   502,625	$  830,763
Interest and other	10,626	18,488
	513,251	849,251
Expenses
Interest	36,618	101,623
Depreciation and amortization	122,439	214,199
Operating expenses	424,667	630,023
	583,724	945,845
NET LOSS	$  (70,473)	$  (96,594)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$  (69,768)	$  (95,628)
Net loss allocated to other     Partners	$   (705)	$    (966)

* Amounts include $69,768 and $95,628 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

Series 16

	2018	2017
Revenues
Rental	$ 1,062,557	$ 1,263,091
Interest and other	12,948	26,614
	1,075,505	1,289,705
Expenses
Interest	119,051	145,485
Depreciation and amortization	250,911	310,014
Operating expenses	813,932	989,936
	1,183,894	1,445,435
NET LOSS	$  (108,389)	$  (155,730)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$  (107,305)	$  (154,173)
Net loss allocated to other     Partners	$   (1,084)	$    (1,557)

* Amounts include $107,305 and $154,173 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

Series 17

	2018	2017
Revenues
Rental	$   579,160	$   635,359
Interest and other	11,751	12,045
	590,911	647,404
Expenses
Interest	53,055	62,075
Depreciation and amortization	171,868	193,589
Operating expenses	423,392	484,327
	648,315	739,991
NET LOSS	$  (57,404)	$  (92,587)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$  (56,829)	$  (91,660)
Net loss allocated to other     Partners	$     (575)	$     (927)

* Amounts include $56,829 and $91,660 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

Series 18

	2018	2017
Revenues
Rental	$    805,458	$    868,114
Interest and other	16,959	20,281
	822,417	888,395
Expenses
Interest	132,168	138,873
Depreciation and amortization	191,985	214,005
Operating expenses	715,697	755,097
	1,039,850	1,107,975
NET LOSS	$   (217,433)	$   (219,580)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$   (215,259)	$   (217,384)
Net loss allocated to other     Partners	$    (2,174)	$    (2,196)

* Amounts include $215,259 and $217,384 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

Series 19

	2018	2017
Revenues
Rental	$     89,827	$    376,155
Interest and other	7,751	10,977
	97,578	387,132
Expenses
Interest	6,613	40,686
Depreciation and amortization	4,898	82,976
Operating expenses	99,881	332,070
	111,392	455,732
NET LOSS	$   (13,814)	$   (68,600)
Net loss allocation to Boston      Capital Tax Credit Fund     III L.P.*	$   (13,676)	$   (67,914)
Net loss allocated to other     Partners	$    (138)	$     (686)

* Amounts include $13,676 and $67,914 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

The Fund accounts for its investments using the equity method of

accounting. Under the equity method of accounting, the Fund adjusts

its investment cost for its share of each Operating Partnership’s results of

operations and for any distributions received or accrued. However, the

Fund recognizes individual operating losses only to the extent of

capital contributions. Excess losses are suspended for use in future years to

offset excess income.

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ORGANIZATION (Details Textual) - USD ($)	Sep. 30, 2018	Mar. 31, 2018	Sep. 04, 1993
Organization And Summary Of Significant Accounting Policies [Line Items]
Units of limited partnership interest, authorized	22,000,000	22,000,000	20,000,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10	$ 10
Limited Partners' Capital Account, Units Issued	21,996,102	21,996,102
Limited Partners' Capital Account, Units Outstanding	21,778,581	21,778,581
Series 15 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Units of limited partnership interest, authorized	22,000,000	22,000,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Limited Partners' Capital Account, Units Issued	3,870,500	3,870,500
Limited Partners Capital Accounts Units Issued Value	$ 38,705,000
Limited Partners' Capital Account, Units Outstanding	3,811,700	3,811,700
Series 16 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Units of limited partnership interest, authorized	22,000,000	22,000,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Limited Partners' Capital Account, Units Issued	5,429,402	5,429,402
Limited Partners Capital Accounts Units Issued Value	$ 54,293,000
Limited Partners' Capital Account, Units Outstanding	5,367,700	5,367,700
Series 17 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Units of limited partnership interest, authorized	22,000,000	22,000,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Limited Partners' Capital Account, Units Issued	5,000,000	5,000,000
Limited Partners Capital Accounts Units Issued Value	$ 50,000,000
Limited Partners' Capital Account, Units Outstanding	4,956,447	4,956,447
Series 18 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Units of limited partnership interest, authorized	22,000,000	22,000,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Limited Partners' Capital Account, Units Issued	3,616,200	3,616,200
Limited Partners Capital Accounts Units Issued Value	$ 36,162,000
Limited Partners' Capital Account, Units Outstanding	3,586,734	3,586,734
Series 19 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Units of limited partnership interest, authorized	22,000,000	22,000,000
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Limited Partners' Capital Account, Units Issued	4,080,000	4,080,000
Limited Partners Capital Accounts Units Issued Value	$ 40,800,000
Limited Partners' Capital Account, Units Outstanding	4,056,000	4,056,000

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RELATED PARTY TRANSACTIONS (Details) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Related Party Transaction [Line Items]
Accrued management fees	$ 60,128	$ 96,525
Series 15 [Member]
Related Party Transaction [Line Items]
Accrued management fees	8,772	27,201
Series 16 [Member]
Related Party Transaction [Line Items]
Accrued management fees	20,021	24,663
Series 17 [Member]
Related Party Transaction [Line Items]
Accrued management fees	12,219	13,611
Series 18 [Member]
Related Party Transaction [Line Items]
Accrued management fees	15,948	22,257
Series 19 [Member]
Related Party Transaction [Line Items]
Accrued management fees	$ 3,168	$ 8,793

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RELATED PARTY TRANSACTIONS (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Related Party Transaction [Line Items]
Management fees paid	$ 257,970	$ 22,404	$ 1,165,824	$ 185,423
Series 15 [Member]
Related Party Transaction [Line Items]
Management fees paid	62,500	0	62,500	16,000
Series 16 [Member]
Related Party Transaction [Line Items]
Management fees paid	80,083	0	155,683	124,615
Series 17 [Member]
Related Party Transaction [Line Items]
Management fees paid	12,219	13,611	24,438	27,222
Series 18 [Member]
Related Party Transaction [Line Items]
Management fees paid	100,000	0	915,520	0
Series 19 [Member]
Related Party Transaction [Line Items]
Management fees paid	$ 3,168	$ 8,793	$ 7,683	$ 17,586

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RELATED PARTY TRANSACTIONS (Details Textual)	6 Months Ended
	Sep. 30, 2018
Related Party Transaction [Line Items]
Percentage Of Annual Management Fee	0.50%

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INVESTMENTS IN OPERATING PARTNERSHIPS (Details) - Number	Sep. 30, 2018	Sep. 30, 2017
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	35	48
Series 15 [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	8	11
Series 16 [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	12	15
Series 17 [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	4	5
Series 18 [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	10	11
Series 19 [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	1	6

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INVESTMENTS IN OPERATING PARTNERSHIPS (Details 1) - USD ($)	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017
Contributions Payable [Line Items]
Capital contributions payable	$ 26,447	$ 26,447	$ 26,447
Series 15 [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0	0
Series 16 [Member]
Contributions Payable [Line Items]
Capital contributions payable	0	0	0
Series 17 [Member]
Contributions Payable [Line Items]
Capital contributions payable	7,893	7,893	7,893
Series 18 [Member]
Contributions Payable [Line Items]
Capital contributions payable	18,554	18,554	18,554
Series 19 [Member]
Contributions Payable [Line Items]
Capital contributions payable	$ 0	$ 0	$ 0

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INVESTMENTS IN OPERATING PARTNERSHIPS (Details 2)	3 Months Ended		6 Months Ended
	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) Number	Sep. 30, 2017 USD ($) Number
Dispositions By Series [Line Items]
Operating Partnership Interest Transferred | Number			4	4
Sale of Underlying Operating Partnership | Number			0	1
Fund Proceeds from Disposition | $			$ 841,020	$ 851,276
Gain on Disposition | $	$ 0	$ 107,853	$ 841,020	$ 851,276
Series 15 [Member]
Dispositions By Series [Line Items]
Operating Partnership Interest Transferred | Number			1	2
Sale of Underlying Operating Partnership | Number			0	0
Fund Proceeds from Disposition | $			$ 12,500	$ 217,639
Gain on Disposition | $	0	107,853	$ 12,500	$ 217,639
Series 16 [Member]
Dispositions By Series [Line Items]
Operating Partnership Interest Transferred | Number			0	2
Sale of Underlying Operating Partnership | Number			0	0
Fund Proceeds from Disposition | $			$ 0	$ 124,933
Gain on Disposition | $	0	0	$ 0	$ 124,933
Series 17 [Member]
Dispositions By Series [Line Items]
Operating Partnership Interest Transferred | Number			0	0
Sale of Underlying Operating Partnership | Number			0	0
Fund Proceeds from Disposition | $			$ 0	$ 0
Gain on Disposition | $	0	0	$ 0	$ 0
Series 18 [Member]
Dispositions By Series [Line Items]
Operating Partnership Interest Transferred | Number			1	0
Sale of Underlying Operating Partnership | Number			0	1
Fund Proceeds from Disposition | $			$ 815,520	$ 508,704
Gain on Disposition | $	0	0	$ 815,520	$ 508,704
Series 19 [Member]
Dispositions By Series [Line Items]
Operating Partnership Interest Transferred | Number			2	0
Sale of Underlying Operating Partnership | Number			0	0
Fund Proceeds from Disposition | $			$ 13,000	$ 0
Gain on Disposition | $	$ 0	$ 0	$ 13,000	$ 0

XML

INVESTMENTS IN OPERATING PARTNERSHIPS (Details 3) - USD ($)		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017
Revenues
Rental		$ 3,039,627	$ 3,973,482
Interest and other		60,035	88,405
Operating Partnerships Revenue		3,099,662	4,061,887
Expenses
Interest		347,505	488,742
Depreciation and amortization		742,101	1,014,783
Operating expenses		2,477,569	3,191,453
Operating Partnerships Total Expenses		3,567,175	4,694,978
NET LOSS		(467,513)	(633,091)
Net loss allocation to Boston Capital Tax Credit Fund III L.P.	[1]	(462,837)	(626,759)
Net loss allocated to other Partners		(4,676)	(6,332)
Series 15 [Member]
Revenues
Rental		502,625	830,763
Interest and other		10,626	18,488
Operating Partnerships Revenue		513,251	849,251
Expenses
Interest		36,618	101,623
Depreciation and amortization		122,439	214,199
Operating expenses		424,667	630,023
Operating Partnerships Total Expenses		583,724	945,845
NET LOSS		(70,473)	(96,594)
Net loss allocation to Boston Capital Tax Credit Fund III L.P.	[2]	(69,768)	(95,628)
Net loss allocated to other Partners		(705)	(966)
Series 16 [Member]
Revenues
Rental		1,062,557	1,263,091
Interest and other		12,948	26,614
Operating Partnerships Revenue		1,075,505	1,289,705
Expenses
Interest		119,051	145,485
Depreciation and amortization		250,911	310,014
Operating expenses		813,932	989,936
Operating Partnerships Total Expenses		1,183,894	1,445,435
NET LOSS		(108,389)	(155,730)
Net loss allocation to Boston Capital Tax Credit Fund III L.P.	[3]	(107,305)	(154,173)
Net loss allocated to other Partners		(1,084)	(1,557)
Series 17 [Member]
Revenues
Rental		579,160	635,359
Interest and other		11,751	12,045
Operating Partnerships Revenue		590,911	647,404
Expenses
Interest		53,055	62,075
Depreciation and amortization		171,868	193,589
Operating expenses		423,392	484,327
Operating Partnerships Total Expenses		648,315	739,991
NET LOSS		(57,404)	(92,587)
Net loss allocation to Boston Capital Tax Credit Fund III L.P.	[4]	(56,829)	(91,660)
Net loss allocated to other Partners		(575)	(927)
Series 18 [Member]
Revenues
Rental		805,458	868,114
Interest and other		16,959	20,281
Operating Partnerships Revenue		822,417	888,395
Expenses
Interest		132,168	138,873
Depreciation and amortization		191,985	214,005
Operating expenses		715,697	755,097
Operating Partnerships Total Expenses		1,039,850	1,107,975
NET LOSS		(217,433)	(219,580)
Net loss allocation to Boston Capital Tax Credit Fund III L.P.	[5]	(215,259)	(217,384)
Net loss allocated to other Partners		(2,174)	(2,196)
Series 19 [Member]
Revenues
Rental		89,827	376,155
Interest and other		7,751	10,977
Operating Partnerships Revenue		97,578	387,132
Expenses
Interest		6,613	40,686
Depreciation and amortization		4,898	82,976
Operating expenses		99,881	332,070
Operating Partnerships Total Expenses		111,392	455,732
NET LOSS		(13,814)	(68,600)
Net loss allocation to Boston Capital Tax Credit Fund III L.P.	[6]	(13,676)	(67,914)
Net loss allocated to other Partners		$ (138)	$ (686)

[1] Amounts include $462,837 and $626,759 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

[2] Amounts include $69,768 and $95,628 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

[3] Amounts include $107,305 and $154,173 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

[4] Amounts include $56,829 and $91,660 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

[5] Amounts include $215,259 and $217,384 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

[6] Amounts include $13,676 and $67,914 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

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INVESTMENTS IN OPERATING PARTNERSHIPS (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Investments In Operating Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting	$ 462,837	$ 626,759
Series 15 [Member]
Investments In Operating Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting	69,768	95,628
Series 16 [Member]
Investments In Operating Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting	107,305	154,173
Series 17 [Member]
Investments In Operating Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting	56,829	91,660
Series 18 [Member]
Investments In Operating Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting	215,259	217,384
Series 19 [Member]
Investments In Operating Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting	$ 13,676	$ 67,914