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        333-109898

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

Delaware	14-1897569
(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)

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 V 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	4-7
		Condensed Statements of Operations	8-15
		Condensed Statements of Changes in  Partners' Capital (Deficit)	16-17
		Condensed Statements of Cash Flows	18-21
		Notes to Condensed Financial  Statements	22-30
	Item 2. Management's Discussion and Analysis of Financial Condition and Results of  Operations		30-37
	Item 3. Quantitative and Qualitative Disclosures About Market Risk		38
	Item 4. Controls and Procedures		38
PART II - OTHER INFORMATION
	Item 1. Legal Proceedings		39
	Item 1A. Risk Factors		39
	Item 2. Unregistered Sales of Equity Securities and Use of Proceeds		39
	Item 3. Defaults Upon Senior Securities		39
	Item 4. Mine Safety Disclosures		39
	Item 5. Other Information		39
	Item 6. Exhibits		39
	Signatures		40

Boston Capital Tax Credit Fund V L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

		September 30, 2018	March 31, 2018
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS  (Note D)		$          -	$          -
OTHER ASSETS
	Cash and cash equivalents	830,060	1,914,566
	Other assets	106,411	106,411
		$    936,471	$  2,020,977
LIABILITIES
	Accounts payable and accrued expenses	$        343	$        343
	Accounts payable affiliates	8,103,551	8,649,793
	Capital contributions payable	101	101
		8,103,995	8,650,237
PARTNERS' CAPITAL (DEFICIT)
Assignees
	Units of limited partnership  interest, $10 stated value per BAC;  15,500,000 authorized BACs;  11,777,706 issued and 11,763,506 outstanding as of September 30, 2018 and March 31, 2018.	(6,888,402)	(6,351,484)
General Partner		(279,122)	(277,776)
		(7,167,524)	(6,629,260)
		$    936,471	$  2,020,977

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 47

		September 30, 2018	March 31, 2018
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS  (Note D)		$          -	$          -
OTHER ASSETS
	Cash and cash equivalents	274,225	776,230
	Other assets	-	-
		$    274,225	$    776,230
LIABILITIES
	Accounts payable and accrued expenses	$          -	$          -
	Accounts payable affiliates	3,115,033	3,459,744
	Capital contributions payable	-	-
		3,115,033	3,459,744
PARTNERS' CAPITAL (DEFICIT)
Assignees
	Units of limited partnership  interest, $10 stated value per BAC;  15,500,000 authorized BACs;  3,478,334 issued and 3,476,634 outstanding as of September 30, 2018 and March 31, 2018.	(2,756,998)	(2,600,097)
General Partner		(83,810)	(83,417)
		(2,840,808)	(2,683,514)
		$    274,225	$    776,230

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 48

		September 30, 2018	March 31, 2018
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS  (Note D)		$          -	$          -
OTHER ASSETS
	Cash and cash equivalents	245,986	666,873
	Other assets	-	-
		$    245,986	$    666,873
LIABILITIES
	Accounts payable and accrued expenses	$          -	$          -
	Accounts payable affiliates	1,822,671	2,138,501
	Capital contributions payable	-	-
		1,822,671	2,138,501
PARTNERS' CAPITAL (DEFICIT)
Assignees
	Units of limited partnership  interest, $10 stated value per BAC;  15,500,000 authorized BACs;  2,299,372 issued and 2,293,872 outstanding as of September 30, 2018 and March 31, 2018.	(1,521,981)	(1,417,187)
General Partner		(54,704)	(54,441)
		(1,576,685)	(1,471,628)
		$    245,986	$    666,873

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED BALANCE SHEETS

(Unaudited)

Series 49

		September 30, 2018	March 31, 2018
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS  (Note D)		$          -	$          -
OTHER ASSETS
	Cash and cash equivalents	309,849	471,463
	Other assets	106,411	106,411
		$    416,260	$    577,874
LIABILITIES
	Accounts payable and accrued expenses	$        343	$        343
	Accounts payable affiliates	3,165,847	3,051,548
	Capital contributions payable	101	101
		3,166,291	3,051,992
PARTNERS' CAPITAL (DEFICIT)
Assignees
	Units of limited partnership  interest, $10 stated value per BAC;  15,500,000 authorized BACs;  6,000,000 issued and 5,993,000 outstanding as of September 30, 2018 and March 31, 2018.	(2,609,423)	(2,334,200)
General Partner		(140,608)	(139,918)
		(2,750,031)	(2,474,118)
		$    416,260	$    577,874

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

		2018	2017
Income
	Interest income	$      1,781	$        160
Other income		24,086	56,574
		25,867	56,734
Share of loss from Operating  Partnerships(Note D)		-	(76,622)
Expenses
	Professional fees	19,264	61,613
	Fund management fee, net (Note C)	218,197	248,483
	General and administrative expenses	40,451	19,116
		277,912	329,212
NET LOSS		$  (252,045)	$  (349,100)
Net loss allocated to assignees		$  (251,414)	$  (348,228)
Net loss allocated to general partner		$      (631)	$      (872)
Net loss per BAC		$      (.02)	$      (.03)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series 47

		2018	2017
Income
	Interest income	$       583	$        48
Other income		6,536	11,988
		7,119	12,036
Share of loss from Operating  Partnerships(Note D)		-	-
Expenses
	Professional fees	6,301	17,940
	Fund management fee, net (Note C)	56,938	86,687
	General and administrative expenses	12,593	6,172
		75,832	110,799
NET LOSS		$  (68,713)	$  (98,763)
Net loss allocated to assignees		$  (68,541)	$  (98,516)
Net loss allocated to general partner		$     (172)	$     (247)
Net loss per BAC		$     (.02)	$     (.03)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series 48

		2018	2017
Income
	Interest income	$       508	$        43
Other income		-	11,250
		508	11,293
Share of loss from Operating  Partnerships(Note D)		-	-
Expenses
	Professional fees	6,061	15,657
	Fund management fee, net (Note C)	34,277	48,396
	General and administrative expenses	10,080	5,429
		50,418	69,482
NET LOSS		$  (49,910)	$  (58,189)
Net loss allocated to assignees		$  (49,785)	$  (58,044)
Net loss allocated to general partner		$     (125)	$     (145)
Net loss per BAC		$     (.02)	$     (.03)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series 49

		2018	2017
Income
	Interest income	$        690	$         69
Other income		17,550	33,336
		18,240	33,405
Share of loss from Operating  Partnerships(Note D)		-	(76,622)
Expenses
	Professional fees	6,902	28,016
	Fund management fee, net (Note C)	126,982	113,400
	General and administrative expenses	17,778	7,515
		151,662	148,931
NET LOSS		$  (133,422)	$  (192,148)
Net loss allocated to assignees		$  (133,088)	$  (191,668)
Net loss allocated to general partner		$      (334)	$      (480)
Net loss per BAC		$      (.02)	$      (.03)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

		2018	2017
Income
	Interest income	$      4,996	$        317
Other income		29,409	104,554
		34,405	104,871
Share of loss from Operating  Partnerships(Note D)		-	(153,244)
Expenses
	Professional fees	97,143	78,942
	Fund management fee, net (Note C)	421,459	490,596
	General and administrative expenses	54,067	32,087
		572,669	601,625
NET LOSS		$  (538,264)	$  (649,998)
Net loss allocated to assignees		$  (536,918)	$  (648,373)
Net loss allocated to general partner		$    (1,346)	$    (1,625)
Net loss per BAC		$      (.05)	$      (.06)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 47

		2018	2017
Income
	Interest income	$     1,568	$        97
Other income		7,464	32,101
		9,032	32,198
Share of loss from Operating  Partnerships(Note D)		-	-
Expenses
	Professional fees	31,547	23,448
	Fund management fee, net (Note C)	117,916	160,752
	General and administrative expenses	16,863	10,469
		166,326	194,669
NET LOSS		$ (157,294)	$ (162,471)
Net loss allocated to assignees		$ (156,901)	$ (162,065)
Net loss allocated to general partner		$     (393)	$     (406)
Net loss per BAC		$     (.05)	$     (.05)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 48

		2018	2017
Income
	Interest income	$     1,788	$        86
Other income		3,701	17,671
		5,489	17,757
Share of loss from Operating  Partnerships(Note D)		-	-
Expenses
	Professional fees	28,198	20,465
	Fund management fee, net (Note C)	68,785	89,592
	General and administrative expenses	13,563	9,374
		110,546	119,431
NET LOSS		$ (105,057)	$ (101,674)
Net loss allocated to assignees		$ (104,794)	$ (101,420)
Net loss allocated to general partner		$     (263)	$     (254)
Net loss per BAC		$     (.05)	$     (.04)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED STATEMENTS OF OPERATIONS
Six Months Ended September 30,
(Unaudited)

Series 49

		2018	2017
Income
	Interest income	$      1,640	$        134
Other income		18,244	54,782
		19,884	54,916
Share of loss from Operating  Partnerships(Note D)		-	(153,244)
Expenses
	Professional fees	37,398	35,029
	Fund management fee, net (Note C)	234,758	240,252
	General and administrative expenses	23,641	12,244
		295,797	287,525
NET LOSS		$  (275,913)	$  (385,853)
Net loss allocated to assignees		$  (275,223)	$  (384,888)
Net loss allocated to general partner		$      (690)	$      (965)
Net loss per BAC		$      (.05)	$      (.06)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)
Six Months Ended September 30,
(Unaudited)

	Assignees	General partner	Total
Partners' capital (deficit)   April 1, 2018	$(6,351,484)	$(277,776)	$(6,629,260)
Net loss	(536,918)	(1,346)	(538,264)
Partners' capital (deficit),   September 30, 2018	$(6,888,402)	$(279,122)	$(7,167,524)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)
Six Months Ended September 30,
(Unaudited)

	Assignees	General partner	Total
Series 47
Partners' capital (deficit)   April 1, 2018	$(2,600,097)	$ (83,417)	$(2,683,514)
Net loss	(156,901)	(393)	(157,294)
Partners' capital (deficit),   September 30, 2018	$(2,756,998)	$ (83,810)	$(2,840,808)
	Assignees	General partner	Total
Series 48
Partners' capital (deficit)   April 1, 2018	$(1,417,187)	$ (54,441)	$(1,471,628)
Net loss	(104,794)	(263)	(105,057)
Partners' capital (deficit),   September 30, 2018	$(1,521,981)	$ (54,704)	$(1,576,685)
	Assignees	General partner	Total
Series 49
Partners' capital (deficit)   April 1, 2018	$(2,334,200)	$(139,918)	$(2,474,118)
Net loss	(275,223)	(690)	(275,913)
Partners' capital (deficit),   September 30, 2018	$(2,609,423)	$(140,608)	$(2,750,031)

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

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

				2018		2017
Cash flows from operating activities:
	Net loss			$  (538,264)		$  (649,998)
	Adjustments to reconcile net loss to net cash (used in) provided by operating activities
		Share of loss from    Operating Partnerships		-		153,244
	Changes in assets and liabilities
		Increase (Decrease) in accounts   payable affiliates		(546,242)		531,317
			Net cash (used in) provided by operating activities	(1,084,506)		34,563
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS					(1,084,506)		34,563
Cash and cash equivalents, beginning					1,914,566		1,241,219
Cash and cash equivalents, ending					$    830,060		$  1,275,782

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

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

Series 47

					2018		2017
Cash flows from operating activities:
	Net loss				$ (157,294)		$  (162,471)
	Adjustments to reconcile net loss to net cash (used in) provided by operating activities
		Share of loss from    Operating Partnerships			-		-
	Changes in assets and liabilities
		Increase (Decrease) in accounts   payable affiliates			(344,711)		175,373
			Net cash (used in) provided by operating activities		(502,005)		12,902
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS				(502,005)		12,902
Cash and cash equivalents, beginning				776,230		373,138
Cash and cash equivalents, ending				$    274,225		$    386,040

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

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

Series 48

					2018		2017
Cash flows from operating activities:
	Net loss				$ (105,057)		$  (101,674)
	Adjustments to reconcile net loss to net cash (used in) provided by operating activities
		Share of loss from    Operating Partnerships			-		-
	Changes in assets and liabilities
		Increase (Decrease) in accounts   payable affiliates			(315,830)		100,392
			Net cash (used in) provided by operating activities		(420,887)		(1,282)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS				(420,887)		(1,282)
Cash and cash equivalents, beginning				666,873		347,379
Cash and cash equivalents, ending				$    245,986		$    346,097

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

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

Series 49

					2018		2017
Cash flows from operating activities:
	Net loss				$  (275,913)		$  (385,853)
	Adjustments to reconcile net loss to net cash (used in) provided by operating activities
		Share of loss from    Operating Partnerships			-		153,244
	Changes in assets and liabilities
		Increase (Decrease) in accounts   payable affiliates			114,299		255,552
			Net cash (used in) provided by operating activities		(161,614)		22,943
INCREASE (DECREASE)IN CASH AND CASH EQUIVALENTS				(161,614)		22,943
Cash and cash equivalents, beginning				471,463		520,702
Cash and cash equivalents, ending				$    309,849		$    543,645

The accompanying notes are an integral part of these condensed statements

Boston Capital Tax Credit Fund V L.P.

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

NOTE A - ORGANIZATION

Boston Capital Tax Credit Fund V L.P. (the "Fund") was organized under the laws of the State of Delaware as of October 15, 2003, for the purpose of acquiring, holding, and disposing of limited partnership interests in operating partnerships which acquire, develop, rehabilitate, operate and own newly constructed, existing or rehabilitated low-income apartment complexes ("Operating Partnerships"). The general partner of the Fund is Boston Capital Associates V LLC, a Delaware limited liability company. The members of the general partner are Boston Capital Companion Limited Partnership, a Massachusetts limited partnership, and John P. Manning, who is the managing member. Additional managers of the general partner are Jeffrey H. Goldstein and Marc N. Teal. The general partner of Boston Capital Companion Limited Partnership is Boston Capital Partners II Corporation whose sole shareholder is John P. Manning. John P. Manning is the principal of Boston Capital Partners, Inc.

The assignor limited partner is BCTC V Assignor Corp., a Delaware corporation which is wholly-owned by John P. Manning. The assignor limited partner was formed for the purpose of serving in that capacity for the Fund and will not engage in any other business. Units of beneficial interest in the limited partnership interest of the assignor limited partner will be assigned by the assignor limited partner by means of beneficial assignee certificates ("BACs") to investors and investors will be entitled to all the rights and economic benefits of a limited partner of the Fund, including rights to a percentage of the income, gains, losses, deductions, credits and distributions of the Fund.

A Registration Statement on Form S-11 and the related prospectus, (the "Prospectus") were filed with the Securities and Exchange Commission and became effective January 2, 2004 in connection with a public offering ("Offering") in one or more series of a minimum of 250,000 BACs and a maximum of 7,000,000 BACs at $10 per BAC. On August 10, 2004, an amendment to Form S-11, which registered an additional 8,500,000 BACs for sale to the public in one or more series, became effective. As of September 30, 2018, subscriptions had been received and accepted by the Fund for 11,777,706 BACs representing capital contributions of $117,777,060.

Below is a summary of the BACs sold and total equity raised, by series, as of September 30, 2018:

Series	Closing Date	BACs Sold	Equity Raised
Series 47	April 30, 2004	3,478,334	$34,783,340
Series 48	August 12, 2004	2,299,372	$22,993,720
Series 49	April 29, 2005	6,000,000	$60,000,000

The Fund concluded its public offering of BACs in the Fund on April 29, 2005.

Boston Capital Tax Credit Fund V L.P.

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

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements herein as of September 30, 2018 and for the three and six months then ended have been prepared by the Fund, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. 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 V 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 the general partner, including Boston Capital Holdings Limited Partnership, Boston Capital Securities, Inc., and Boston Capital Asset Management L.P. as follows:

An annual fund management fee of .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships has been accrued to Boston Capital Asset Management L.P. Since reporting fees collected by the various series were added to reserves and not paid to Boston Capital Asset Management L.P., the amounts accrued are not net of reporting fees received. The fund management fee accrued for the quarters ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 47	$ 62,652	$ 87,687
Series 48	38,835	50,196
Series 49	127,776	127,776
Total	$229,263	$265,659

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

	2018	2017
Series 47	$ 75,000	$      -
Series 48	50,000	-
Series 49	141,253	-
Total	$266,253	$      -

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

	2018	2017
Series 47	$  470,015	$      -
Series 48	393,500	-
Series 49	141,253	-
Total	$1,004,768	$      -

Boston Capital Tax Credit Fund V 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 45 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 47	12	14
Series 48	9	10
Series 49	24	24
Total	45	48

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

The Fund's fiscal year ends March 31st for 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 Partnership's quarterly period. Accordingly, the financial results available for the Operating Partnerships are for the six months ended June 30, 2018.

Boston Capital Tax Credit Fund V L.P.

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

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

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

Total

		2018	2017
Revenues
	Rental	$  9,156,209	$ 10,934,926
	Interest and other	219,313	260,483
		9,375,522	11,195,409
Expenses
	Interest	1,302,666	1,644,969
	Depreciation and amortization	2,422,765	2,837,170
	Operating expenses	6,337,882	8,379,839
		10,063,313	12,861,978
NET LOSS		$  (687,791)	$(1,666,569)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$  (680,913)	$(1,649,903)
Net loss allocated to other Partners		$    (6,878)	$   (16,666)

* Amounts include $680,913 and $1,496,659 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 V L.P.

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

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

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

Series 47

		2018	2017
Revenues
	Rental	$  2,759,561	$  4,132,975
	Interest and other	51,689	88,329
		2,811,250	4,221,304
Expenses
	Interest	383,601	605,853
	Depreciation and amortization	609,739	897,897
	Operating expenses	1,958,800	2,968,767
		2,952,140	4,472,517
NET LOSS		$  (140,890)	$  (251,213)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$  (139,481)	$  (248,701)
Net loss allocated to other Partners		$    (1,409)	$    (2,512)

* Amounts include $139,481 and $248,701 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 V 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 48

		2018	2017
Revenues
	Rental	$  1,498,920	$  2,019,813
	Interest and other	29,602	48,167
		1,528,522	2,067,980
Expenses
	Interest	181,371	238,885
	Depreciation and amortization	398,479	512,684
	Operating expenses	1,083,406	2,086,962
		1,663,256	2,838,531
NET LOSS		$  (134,734)	$  (770,551)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$  (133,387)	$  (762,845)
Net loss allocated to other Partners		$    (1,347)	$    (7,706)

* Amounts include $133,387 and $762,845 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 V 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 49

		2018	2017
Revenues
	Rental	$  4,897,728	$  4,782,138
	Interest and other	138,022	123,987
		5,035,750	4,906,125
Expenses
	Interest	737,694	800,231
	Depreciation and amortization	1,414,547	1,426,589
	Operating expenses	3,295,676	3,324,110
		5,447,917	5,550,930
NET LOSS		$  (412,167)	$  (644,805)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$  (408,045)	$  (638,357)
Net loss allocated to other Partners		$    (4,122)	$    (6,448)

* Amounts include $408,045 and $485,113 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 V 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.

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

This Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements including our intentions, hopes, beliefs, expectations, strategies and predictions of our future activities, or other future events or conditions. These statements are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created by these acts. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including, for example, the factors identified in Part I, Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended March 31, 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 is the proceeds of the Offering. Other sources of liquidity include (i) interest earned on capital contributions held pending investment and on working capital and (ii) cash distributions from operations of the Operating Partnerships in which the Fund has and will invest. 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 $229,263 and total fund management fees accrued as of September 30, 2018 were $8,103,551. During the quarter ended September 30, 2018, $266,253 of the 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 the Offering declared effective by the Securities and Exchange Commission on January 2, 2004. The Fund received $34,783,340, $22,993,720 and $60,000,000 representing 3,478,334, 2,299,372 and 6,000,000 BACs from investors admitted as BAC Holders in Series 47, Series 48 and Series 49, respectively, as of September 30, 2018.

Series 47

The Fund commenced offering BACs in Series 47 on January 2, 2004. Offers and sales of BACs in Series 47 were completed on April 30, 2004. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 15 Operating Partnerships in the amount of $26,409,598. Series 47 has since sold its interest in 3 of the Operating Partnerships and 12 remain.

During the quarter ended September 30, 2018, Series 47 did not record any releases of capital contributions. Series 47 has released all payments of its capital contributions to the Operating Partnerships.

Series 48

The Fund commenced offering BACs in Series 48 on May 11, 2004. Offers and sales of BACs in Series 48 were completed on August 12, 2004. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 11 Operating Partnerships in the amount of $17,452,406. Series 48 has since sold its interest in 2 of the Operating Partnerships and 9 remain.

During the quarter ended September 30, 2018, Series 48 did not record any releases of capital contributions. Series 48 has released all payments of its capital contributions to the Operating Partnerships.

Series 49

The Fund commenced offering BACs in Series 49 on August 24, 2004. Offers and sales of BACs in Series 49 were completed on April 29, 2005. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $45,728,155.

During the quarter ended September 30, 2018, Series 49 did not record any releases of capital contributions. Series 49 has outstanding contributions payable to 1 Operating Partnership in the amount of $101, as of September 30, 2018. The remaining contributions will be released when the Operating Partnership have achieved the conditions set forth in their partnership agreement.

Results of Operations

As of September 30, 2018, the Fund held limited partnership interests in 45 Operating Partnerships. 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 incurred a fund management fee to Boston Capital Asset Management Limited Partnership in an amount equal to .5 percent of the aggregate cost of the apartment complexes owned by the Operating Partnerships, less the amount of certain asset management and reporting fees paid by the Operating Partnerships. The 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 47	$ 62,652	$ 5,714	$ 56,938
Series 48	38,835	4,558	34,277
Series 49	127,776	794	126,982
	$229,263	$11,066	$218,197

	6 Months Gross Fund Management Fee	6 Months Reporting Fee	6 Months Fund Management Fee Net of Reporting Fee
Series 47	$125,304	$ 7,388	$117,916
Series 48	77,670	8,885	68,785
Series 49	255,552	20,794	234,758
	$458,526	$37,067	$421,459

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 and will be made principally with a view towards realization of federal housing tax credits for allocation to its partners and BAC holders.

Series 47

As of September 30, 2018 and 2017, the average Qualified Occupancy 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 47 reflects a net loss from Operating Partnerships of $(140,890) and $(251,213), respectively, which includes depreciation and amortization of $609,739 and $897,897, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

In October 2017, the operating general partner of CP Continental Limited Partnership entered into an agreement to sell the property to a non-affiliated entity and the transaction closed on December 20, 2017. The sales price of the property was $8,100,000, which included the outstanding mortgage balance of approximately $5,656,256 and cash proceeds to the investment partnership of $194,672. Of the total proceeds received by the investment partnership, $5,000 was paid to BCAMLP for expenses related to the sale, which include third party legal costs. The remaining proceeds from the sale of $189,672 were returned to cash reserves held by Series 47. 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 $189,672 as of December 31, 2017. In January 2018, the investment partnership received additional proceeds equal to its share of the Operating Partnership's cash in the amount of $51,515 which was returned to the cash reserves.

The Masters Apartments, L.P (Crawford Park Apartments Homes) is a 144-unit family property located in Dallas, TX. Operations fell below breakeven in 2016 when management re-branded the property to improve its reputation and resident profile. With over 60 evictions, the property suffered a drastic decline in rental income. In addition, operating expenses increased as management worked to correct deferred maintenance items throughout 2016 and 2017. As of September 2018, operations are above breakeven, after accounting for reserve withdrawals for expensed improvements. Management continues to focus on renting to residents that meet the stringent tenant selection criteria. The property is 90% occupied through September 2018. The investment general partner will continue to work closely with the operating general partner and the management company to improve operations and occupancy. The operating general partner's operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period with respect to The Masters Apartments, L.P. expires on December 31, 2020.

In March 2018, the investment general partner transferred their respective interests in Wellington Park Apartments, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $10,799,677 and cash proceeds to the investment partnerships of $350,000 and $350,000 to Series 47 and Series 48, respectively. Of the total proceeds received, $6,500 and $6,500 for Series 47 and Series 48, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $343,500 and $343,500 for Series 47 and Series 48, 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's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $343,500 and $343,500 for Series 47 and Series 48, respectively, as of March 31, 2018.

Series 48

As of September 30, 2018 and 2017, the average Qualified Occupancy was 100%. The series had a total of 9 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 48 reflects a net loss from Operating Partnerships of $(134,734) and $(770,551), respectively, which includes depreciation and amortization of $398,479 and $512,684, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

Wyndam-Emporia L.P. (Wyndam Place Senior Residences) is a 42-unit senior property located in Emporia, KS. The property is operating above breakeven through September 30, 2018, due to management stabilizing occupancy to 100% and reducing vacancy loss by 85% compared to 2017. Effective January 1, 2016, the operating general partner modified the existing loan resulting in an annual debt service reduction of $14,000. The 15-year low income housing tax credit compliance period with respect to Wyndam-Emporia L.P. expires on December 31, 2020.

The Masters Apartments, L.P (Crawford Park Apartments Homes) is a 144-unit family property located in Dallas, TX. Operations fell below breakeven in 2016 when management re-branded the property to improve its reputation and resident profile. With over 60 evictions, the property suffered a drastic decline in rental income. In addition, operating expenses increased as management worked to correct deferred maintenance items throughout 2016 and 2017. As of September 2018, operations are above breakeven, after accounting for reserve withdrawals for expensed improvements. Management continues to focus on renting to residents that meet the stringent tenant selection criteria. The property is 90% occupied through September 2018. The investment general partner will continue to work closely with the operating general partner and the management company to improve operations and occupancy. The operating general partner's operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period with respect to The Masters Apartments, L.P. expires on December 31, 2020.

In March 2018, the investment general partner transferred their respective interests in Wellington Park Apartments, Limited Partnership to an entity affiliated with the operating general partner for its assumption of the outstanding mortgage balance of approximately $10,799,677 and cash proceeds to the investment partnerships of $350,000 and $350,000 to Series 47 and Series 48, respectively. Of the total proceeds received, $6,500 and $6,500 for Series 47 and Series 48, respectively, was paid to BCAMLP for expenses related to the transfer, which include third party legal costs. The remaining proceeds of approximately $343,500 and $343,500 for Series 47 and Series 48, 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's investment in the Operating Partnership in accordance with the equity method of accounting, had previously reduced the investment limited partnership investment in the Operating Partnership to zero. Accordingly, a gain on the transfer of the Operating Partnership of the proceeds from the transfer, net of the overhead and expense reimbursement, has been recorded in the amount of $343,500 and $343,500 for Series 47 and Series 48, respectively, as of March 31, 2018.

Series 49

As of September 30, 2018 and 2017, the average Qualified Occupancy was 100%. The series had a total of 24 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 49 reflects a net loss from Operating Partnerships of $(412,167) and $(644,805), respectively, which includes depreciation and amortization of $1,414,547 and $1,426,589, respectively. This is an interim period estimate; it is not indicative of the final year-end results.

Rosewood Place, L.L.C. (Rosewood Senior) is a 144-unit apartment development for seniors located in Lenexa, Kansas. The property operated above breakeven during 2015, 2016 and 2017. The investment general partner continues to monitor the personal Chapter 7 bankruptcy of the principal of the operating general partner and regularly receives verbal updates from the bankruptcy trustee on the status and progress on the liquidation of the operating general partner's personal assets, including the eventual sale of his operating general partner interest in the subject Operating Partnership. Although the operating general partner's operating deficit guarantee has not expired, it has no ability to honor this guarantee due to aforementioned personal bankruptcy filing by its principal. The 15-year low income tax credit compliance period with respect to Rosewood Place, L.L.C. expires on December 31, 2021.

Linden-Bartlesville Partners, L.P. (The Linden's Apartments) is a 54-unit family property located in Bartlesville, OK. Operations have been consistently below breakeven since the fourth quarter of 2014 due to low occupancy levels and the inability to increase rents due to unanticipated competition in the market. A debt modification was secured during 2016, which reduced annual debt service payments by approximately $11,000. The investment limited partner will continue to work with the operating general partner and the management company to monitor and improve operations. As of September 30, 2018, the property is maintaining occupancy of 83%. The operating general partner's obligation to fund deficits under the operating deficit guaranty expired; however, the operating general partner continues to fund deficits and confirmed its commitment to continue doing so. The 15-year low income housing tax credit compliance period with respect to Linden-Bartlesville Partners, L.P. expires on December 31, 2020.  

Linden-Shawnee Partners, L.P. (Linden's Apartments) is a 54-unit family property in Shawnee, OK. Operations remain above breakeven through the September 2018. The investment limited partner will continue to work with the operating general partner and the management company to improve occupancy and operations. The operating general partner's operating deficit guarantee expires on December 31, 2020. The 15-year low income housing tax credit compliance period with respect to Linden-Shawnee Partners, L.P. expires on December 31, 2020. As the property stabilized and is operating above breakeven, the investment general partner will cease reporting for Linden-Shawnee Partners, L.P. as of the third quarter of 2018.

Columbia Blackshear Senior Residences, L.P. (Columbia Senior Residences)is a 78- unit elderly property in Atlanta, GA. Operations fell below breakeven through the third quarter of 2018 due to increased maintenance and administrative costs. Emergency elevator repairs have resulted in a significant increase to maintenance expenses, management has requested reimbursement of the expense through replacement reserves. Turnover and bad debt expense increased due to the passing of several residents. Manager and maintenance payroll expenses have increased because of positive performance reviews. Despite the increase in turnover occupancy has remained strong at average of 99% through 2018. The investment limited partner will continue to work with the operating general partner and the management company to improve operations. Although, the operating deficit guarantee has expired the operating general partner continues to fund deficits and confirmed its commitment to continue to do so. The 15- year low income housing tax credit compliance period with respect to Columbia Blackshear Residences, L.P. expires on December 31, 2021.

Rural Housing Partners of Kewaunee L.P. (Sunset Manor Apartments) is a 38-unit family property located in Kewaunee, WI. Due to low occupancy and insufficient rental income the property operates below breakeven. The investment general partner will continue to work with the operating general partner and the management company to monitor and improve the occupancy level. The operating general partner's operating deficit guarantee has expired. The 15-year low income housing tax credit compliance period with respect to Rural Housing Partners of Kewaunee, LP expires on December 31, 2019.

Off Balance Sheet Arrangements

None.

Principal Accounting Policies and Estimates

The financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), which require the 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.

The main reason an impairment loss typically occurs is that the annual operating losses, recorded in accordance with the equity method of accounting, of the investment in limited partnership does not reduce the balance as quickly as the annual use of the tax credits. In years prior to the year ended March 31, 2009, management included remaining tax credits as well as residual value in the calculated value of the underlying investments. However, management decided to take a more conservative approach to the investment calculation and determined that the majority of the residual value component of the valuation was zero for the years ended, March 31, 2018 and 2017. However, it is important to note that this change in the accounting estimate to the calculation method of the impairment loss has no effect on the actual value or performance of the overall investment, nor does it have any effect on the remaining credits to be generated.

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. 

Principal Accounting Policies and Estimates - continued

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, advances made to Operating Partnerships, plus the risk of recapture of tax credits previously recognized on the investments, 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 Boston Capital Associates V LLC, 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 V CERT 302
		31.b Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, of Marc N. Teal, Principal Financial Officer, filed herewith BCTC V 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 herewith BCTC V 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 herewith BCTC V CERT 906
		101. The following materials from the Boston Capital Tax Credit Fund V 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 the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

	Boston Capital Tax Credit Fund V L.P.
		By:	Boston Capital Associates V LLC, General Partner
Date: November 13, 2018			By:	/s/ John P. Manning John P. Manning
				Managing Member

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 John P. Manning	Director, President (Principal Executive Officer), Boston Capital Partners II Corp.; Director, President (Principal Executive Officer), BCTC V Assignor Corp.
November 13, 2018	/s/ Marc N. Teal Marc N. Teal	Sr. Vice President, Chief Financial Officer (Principal Financial and Accounting Officer), Boston Capital Partners II Corp.; Sr. Vice President, Chief Financial Officer (Principal Financial and Accounting Officer), BCTC V Assignor Corp.

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

EX-31

Exhibit 31.b

I, Marc N. Teal, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Boston Capital Tax Credit Fund V 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:	/s/ Marc N. Teal
November 13, 2018	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 V 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 Fund's general partner, Boston Capital Associates V, L.L.C., 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 V 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 Fund's general partner, Boston Capital Associates V L.L.C., 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 V LP
Entity Central Index Key	0001267425
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	830,060	1,914,566
Other assets	106,411	106,411
Assets	936,471	2,020,977
LIABILITIES
Accounts payable and accrued expenses	343	343
Accounts payable affiliates	8,103,551	8,649,793
Capital contributions payable	101	101
Total Liabilities	8,103,995	8,650,237
PARTNERS' CAPITAL (DEFICIT)
Assignees Units of limited partnership interest	(6,888,402)	(6,351,484)
General Partner	(279,122)	(277,776)
Partners Capital	(7,167,524)	(6,629,260)
Liabilities and Stockholders' Equity	936,471	2,020,977
Series 47 [Member]
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)	0	0
OTHER ASSETS
Cash and cash equivalents	274,225	776,230
Other assets	0	0
Assets	274,225	776,230
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	3,115,033	3,459,744
Capital contributions payable	0	0
Total Liabilities	3,115,033	3,459,744
PARTNERS' CAPITAL (DEFICIT)
Assignees Units of limited partnership interest	(2,756,998)	(2,600,097)
General Partner	(83,810)	(83,417)
Partners Capital	(2,840,808)	(2,683,514)
Liabilities and Stockholders' Equity	274,225	776,230
Series 48 [Member]
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)	0	0
OTHER ASSETS
Cash and cash equivalents	245,986	666,873
Other assets	0	0
Assets	245,986	666,873
LIABILITIES
Accounts payable and accrued expenses	0	0
Accounts payable affiliates	1,822,671	2,138,501
Capital contributions payable	0	0
Total Liabilities	1,822,671	2,138,501
PARTNERS' CAPITAL (DEFICIT)
Assignees Units of limited partnership interest	(1,521,981)	(1,417,187)
General Partner	(54,704)	(54,441)
Partners Capital	(1,576,685)	(1,471,628)
Liabilities and Stockholders' Equity	245,986	666,873
Series 49 [Member]
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)	0	0
OTHER ASSETS
Cash and cash equivalents	309,849	471,463
Other assets	106,411	106,411
Assets	416,260	577,874
LIABILITIES
Accounts payable and accrued expenses	343	343
Accounts payable affiliates	3,165,847	3,051,548
Capital contributions payable	101	101
Total Liabilities	3,166,291	3,051,992
PARTNERS' CAPITAL (DEFICIT)
Assignees Units of limited partnership interest	(2,609,423)	(2,334,200)
General Partner	(140,608)	(139,918)
Partners Capital	(2,750,031)	(2,474,118)
Liabilities and Stockholders' Equity	$ 416,260	$ 577,874

XML

CONDENSED BALANCE SHEETS [Parenthetical] - $ / shares	Sep. 30, 2018	Mar. 31, 2018
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	15,500,000	15,500,000
Units of limited partnership interest, issued	11,777,706	11,777,706
Units of limited partnership interest, outstanding	11,763,506	11,763,506
Series 47 [Member]
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	15,500,000	15,500,000
Units of limited partnership interest, issued	3,478,334	3,478,334
Units of limited partnership interest, outstanding	3,476,634	3,476,634
Series 48 [Member]
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	15,500,000	15,500,000
Units of limited partnership interest, issued	2,299,372	2,299,372
Units of limited partnership interest, outstanding	2,293,872	2,293,872
Series 49 [Member]
Beneficial assignee certificate, par value (in dollars per share)	$ 10	$ 10
Units of limited partnership interest, authorized	15,500,000	15,500,000
Units of limited partnership interest, issued	6,000,000	6,000,000
Units of limited partnership interest, outstanding	5,993,000	5,993,000

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	$ 1,781	$ 160	$ 4,996	$ 317
Other income	24,086	56,574	29,409	104,554
Total income	25,867	56,734	34,405	104,871
Share of loss from Operating Partnerships (Note D)	0	(76,622)	0	(153,244)
Expenses
Professional fees	19,264	61,613	97,143	78,942
Fund management fee, net (Note C)	218,197	248,483	421,459	490,596
General and administrative expenses	40,451	19,116	54,067	32,087
Operating expenses	277,912	329,212	572,669	601,625
NET LOSS	(252,045)	(349,100)	(538,264)	(649,998)
Net loss allocated to assignees	(251,414)	(348,228)	(536,918)	(648,373)
Net loss allocated to general partner	$ (631)	$ (872)	$ (1,346)	$ (1,625)
Net loss per BAC	$ (0.02)	$ (0.03)	$ (0.05)	$ (0.06)
Series 47 [Member]
Income
Interest income	$ 583	$ 48	$ 1,568	$ 97
Other income	6,536	11,988	7,464	32,101
Total income	7,119	12,036	9,032	32,198
Share of loss from Operating Partnerships (Note D)	0	0	0	0
Expenses
Professional fees	6,301	17,940	31,547	23,448
Fund management fee, net (Note C)	56,938	86,687	117,916	160,752
General and administrative expenses	12,593	6,172	16,863	10,469
Operating expenses	75,832	110,799	166,326	194,669
NET LOSS	(68,713)	(98,763)	(157,294)	(162,471)
Net loss allocated to assignees	(68,541)	(98,516)	(156,901)	(162,065)
Net loss allocated to general partner	$ (172)	$ (247)	$ (393)	$ (406)
Net loss per BAC	$ (0.02)	$ (0.03)	$ (0.05)	$ (0.05)
Series 48 [Member]
Income
Interest income	$ 508	$ 43	$ 1,788	$ 86
Other income	0	11,250	3,701	17,671
Total income	508	11,293	5,489	17,757
Share of loss from Operating Partnerships (Note D)	0	0	0	0
Expenses
Professional fees	6,061	15,657	28,198	20,465
Fund management fee, net (Note C)	34,277	48,396	68,785	89,592
General and administrative expenses	10,080	5,429	13,563	9,374
Operating expenses	50,418	69,482	110,546	119,431
NET LOSS	(49,910)	(58,189)	(105,057)	(101,674)
Net loss allocated to assignees	(49,785)	(58,044)	(104,794)	(101,420)
Net loss allocated to general partner	$ (125)	$ (145)	$ (263)	$ (254)
Net loss per BAC	$ (0.02)	$ (0.03)	$ (0.05)	$ (0.04)
Series 49 [Member]
Income
Interest income	$ 690	$ 69	$ 1,640	$ 134
Other income	17,550	33,336	18,244	54,782
Total income	18,240	33,405	19,884	54,916
Share of loss from Operating Partnerships (Note D)		(76,622)	0	(153,244)
Expenses
Professional fees	6,902	28,016	37,398	35,029
Fund management fee, net (Note C)	126,982	113,400	234,758	240,252
General and administrative expenses	17,778	7,515	23,641	12,244
Operating expenses	151,662	148,931	295,797	287,525
NET LOSS	(133,422)	(192,148)	(275,913)	(385,853)
Net loss allocated to assignees	(133,088)	(191,668)	(275,223)	(384,888)
Net loss allocated to general partner	$ (334)	$ (480)	$ (690)	$ (965)
Net loss per BAC	$ (0.02)	$ (0.03)	$ (0.05)	$ (0.06)

XML

CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT) - 6 months ended Sep. 30, 2018 - USD ($)	Total	Assignees [Member]	General Partner [Member]	Series 47 [Member]	Series 47 [Member] Assignees [Member]	Series 47 [Member] General Partner [Member]	Series 48 [Member]	Series 48 [Member] Assignees [Member]	Series 48 [Member] General Partner [Member]	Series 49 [Member]	Series 49 [Member] Assignees [Member]	Series 49 [Member] General Partner [Member]
Partners' capital (deficit) at Mar. 31, 2018	$ (6,629,260)	$ (6,351,484)	$ (277,776)	$ (2,683,514)	$ (2,600,097)	$ (83,417)	$ (1,471,628)	$ (1,417,187)	$ (54,441)	$ (2,474,118)	$ (2,334,200)	$ (139,918)
Net loss	(538,264)	(536,918)	(1,346)	(157,294)	(156,901)	(393)	(105,057)	(104,794)	(263)	(275,913)	(275,223)	(690)
Partners' capital (deficit) at Sep. 30, 2018	$ (7,167,524)	$ (6,888,402)	$ (279,122)	$ (2,840,808)	$ (2,756,998)	$ (83,810)	$ (1,576,685)	$ (1,521,981)	$ (54,704)	$ (2,750,031)	$ (2,609,423)	$ (140,608)

XML

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 loss	$ (252,045)	$ (349,100)	$ (538,264)	$ (649,998)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Share of loss from Operating Partnerships	0	76,622	0	153,244
Changes in assets and liabilities
Increase (Decrease) in accounts payable affiliates			(546,242)	531,317
Net cash (used in) provided by operating activities			(1,084,506)	34,563
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(1,084,506)	34,563
Cash and cash equivalents, beginning			1,914,566	1,241,219
Cash and cash equivalents, ending	830,060	1,275,782	830,060	1,275,782
Series 47 [Member]
Cash flows from operating activities:
Net loss	(68,713)	(98,763)	(157,294)	(162,471)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Share of loss from Operating Partnerships	0	0	0	0
Changes in assets and liabilities
Increase (Decrease) in accounts payable affiliates			(344,711)	175,373
Net cash (used in) provided by operating activities			(502,005)	12,902
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(502,005)	12,902
Cash and cash equivalents, beginning			776,230	373,138
Cash and cash equivalents, ending	274,225	386,040	274,225	386,040
Series 48 [Member]
Cash flows from operating activities:
Net loss	(49,910)	(58,189)	(105,057)	(101,674)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Share of loss from Operating Partnerships	0	0	0	0
Changes in assets and liabilities
Increase (Decrease) in accounts payable affiliates			(315,830)	100,392
Net cash (used in) provided by operating activities			(420,887)	(1,282)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(420,887)	(1,282)
Cash and cash equivalents, beginning			666,873	347,379
Cash and cash equivalents, ending	245,986	346,097	245,986	346,097
Series 49 [Member]
Cash flows from operating activities:
Net loss	(133,422)	(192,148)	(275,913)	(385,853)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Share of loss from Operating Partnerships		76,622	0	153,244
Changes in assets and liabilities
Increase (Decrease) in accounts payable affiliates			114,299	255,552
Net cash (used in) provided by operating activities			(161,614)	22,943
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(161,614)	22,943
Cash and cash equivalents, beginning			471,463	520,702
Cash and cash equivalents, ending	$ 309,849	$ 543,645	$ 309,849	$ 543,645

XML

ORGANIZATION

6 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE A – ORGANIZATION

Boston Capital Tax Credit Fund V L.P. (the "Fund") was organized under the laws of the State of Delaware as of October 15, 2003, for the purpose of acquiring, holding, and disposing of limited partnership interests in operating partnerships which acquire, develop, rehabilitate, operate and own newly constructed, existing or rehabilitated low-income apartment complexes ("Operating Partnerships"). The general partner of the Fund is Boston Capital Associates V LLC, a Delaware limited liability company. The members of the general partner are Boston Capital Companion Limited Partnership, a Massachusetts limited partnership, and John P. Manning, who is the managing member. Additional managers of the general partner are Jeffrey H. Goldstein and Marc N. Teal. The general partner of Boston Capital Companion Limited Partnership is Boston Capital Partners II Corporation whose sole shareholder is John P. Manning. John P. Manning is the principal of Boston Capital Partners, Inc. 

The assignor limited partner is BCTC V Assignor Corp., a Delaware corporation which is wholly-owned by John P. Manning. The assignor limited partner was formed for the purpose of serving in that capacity for the Fund and will not engage in any other business. Units of beneficial interest in the limited partnership interest of the assignor limited partner will be assigned by the assignor limited partner by means of beneficial assignee certificates ("BACs") to investors and investors will be entitled to all the rights and economic benefits of a limited partner of the Fund, including rights to a percentage of the income, gains, losses, deductions, credits and distributions of the Fund.

A Registration Statement on Form S-11 and the related prospectus, (the "Prospectus") were filed with the Securities and Exchange Commission and became effective January 2, 2004 in connection with a public offering ("Offering") in one or more series of a minimum of 250,000 BACs and a maximum of 7,000,000 BACs at $10 per BAC. On August 10, 2004, an amendment to Form S-11, which registered an additional 8,500,000 BACs for sale to the public in one or more series, became effective. As of September 30, 2018, subscriptions had been received and accepted by the Fund for 11,777,706 BACs representing capital contributions of $117,777,060.

Below is a summary of the BACs sold and total equity raised, by series, as of September 30, 2018:

Series	Closing Date	BACs Sold	Equity Raised
Series 47	April 30, 2004	3,478,334	$34,783,340
Series 48	August 12, 2004	2,299,372	$22,993,720
Series 49	April 29, 2005	6,000,000	$60,000,000

The Fund concluded its public offering of BACs in the Fund on April 29, 2005.

XML

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 herein as of September 30, 2018 and for the three and six months then ended have been prepared by the Fund, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. 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 the general partner, including Boston Capital Holdings Limited Partnership, Boston Capital Securities, Inc., and Boston Capital Asset Management L.P. as follows:

An annual fund management fee of .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships has been accrued to Boston Capital Asset Management L.P. Since reporting fees collected by the various series were added to reserves and not paid to Boston Capital Asset Management L.P., the amounts accrued are not net of reporting fees received. The fund management fee accrued for the quarters ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 47	$ 62,652	$ 87,687
Series 48	38,835	50,196
Series 49	127,776	127,776
Total	$229,263	$265,659

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

	2018	2017
Series 47	$ 75,000	$      -
Series 48	50,000	-
Series 49	141,253	-
Total	$266,253	$      -

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

	2018	2017
Series 47	$  470,015	$      -
Series 48	393,500	-
Series 49	141,253	-
Total	$1,004,768	$      -

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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 45 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 47	12	14
Series 48	9	10
Series 49	24	24
Total	45	48

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

The Fund's fiscal year ends March 31st for 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 Partnership's quarterly period. Accordingly, the financial results available for the Operating Partnerships are for the six months ended June 30, 2018.

Total

		2018	2017
Revenues
	Rental	$  9,156,209	$ 10,934,926
	Interest and other	219,313	260,483
		9,375,522	11,195,409
Expenses
	Interest	1,302,666	1,644,969
	Depreciation and amortization	2,422,765	2,837,170
	Operating expenses	6,337,882	8,379,839
		10,063,313	12,861,978
NET LOSS		$   (687,791)	$(1,666,569)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$   (680,913)	$(1,649,903)
Net loss allocated to other Partners		$     (6,878)	$(16,666)

 

* Amounts include $680,913 and $1,496,659 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 47

		2018	2017
Revenues
	Rental	$  2,759,561	$  4,132,975
	Interest and other	51,689	88,329
		2,811,250	4,221,304
Expenses
	Interest	383,601	605,853
	Depreciation and amortization	609,739	897,897
	Operating expenses	1,958,800	2,968,767
		2,952,140	4,472,517
NET LOSS		$  (140,890)	$  (251,213)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$  (139,481)	$  (248,701)
Net loss allocated to other Partners		$    (1,409)	$    (2,512)

 

* Amounts include $139,481 and $248,701 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 48

		2018	2017
Revenues
	Rental	$  1,498,920	$  2,019,813
	Interest and other	29,602	48,167
		1,528,522	2,067,980
Expenses
	Interest	181,371	238,885
	Depreciation and amortization	398,479	512,684
	Operating expenses	1,083,406	2,086,962
		1,663,256	2,838,531
NET LOSS		$  (134,734)	$  (770,551)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$  (133,387)	$  (762,845)
Net loss allocated to other Partners		$    (1,347)	$    (7,706)

* Amounts include $133,387 and $762,845 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 49

		2018	2017
Revenues
	Rental	$  4,897,728	$  4,782,138
	Interest and other	138,022	123,987
		5,035,750	4,906,125
Expenses
	Interest	737,694	800,231
	Depreciation and amortization	1,414,547	1,426,589
	Operating expenses	3,295,676	3,324,110
		5,447,917	5,550,930
NET LOSS		$  (412,167)	$  (644,805)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$  (408,045)	$  (638,357)
Net loss allocated to other Partners		$    (4,122)	$    (6,448)

* Amounts include $408,045 and $485,113 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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ORGANIZATION (Tables)

6 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Limited Partners' Capital Account by Class [Table Text Block]

Below is a summary of the BACs sold and total equity raised, by series, as of September 30, 2018:

Series	Closing Date	BACs Sold	Equity Raised
Series 47	April 30, 2004	3,478,334	$34,783,340
Series 48	August 12, 2004	2,299,372	$22,993,720
Series 49	April 29, 2005	6,000,000	$60,000,000

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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]

An annual fund management fee of .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships has been accrued to Boston Capital Asset Management L.P. Since reporting fees collected by the various series were added to reserves and not paid to Boston Capital Asset Management L.P., the amounts accrued are not net of reporting fees received. The fund management fee accrued for the quarters ended September 30, 2018 and 2017 are as follows:

	2018	2017
Series 47	$ 62,652	$ 87,687
Series 48	38,835	50,196
Series 49	127,776	127,776
Total	$229,263	$265,659

Schedule Of Management Fees Paid [Table Text Block]

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

	2018	2017
Series 47	$ 75,000	$      -
Series 48	50,000	-
Series 49	141,253	-
Total	$266,253	$      -

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

	2018	2017
Series 47	$  470,015	$      -
Series 48	393,500	-
Series 49	141,253	-
Total	$1,004,768	$      -

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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 45 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 47	12	14
Series 48	9	10
Series 49	24	24
Total	45	48

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

The Fund's fiscal year ends March 31st for 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 Partnership's quarterly period. Accordingly, the financial results available for the Operating Partnerships are for the six months ended June 30, 2018.

Total

		2018	2017
Revenues
	Rental	$  9,156,209	$ 10,934,926
	Interest and other	219,313	260,483
		9,375,522	11,195,409
Expenses
	Interest	1,302,666	1,644,969
	Depreciation and amortization	2,422,765	2,837,170
	Operating expenses	6,337,882	8,379,839
		10,063,313	12,861,978
NET LOSS		$   (687,791)	$(1,666,569)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$   (680,913)	$(1,649,903)
Net loss allocated to other Partners		$     (6,878)	$(16,666)

 

* Amounts include $680,913 and $1,496,659 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 47

		2018	2017
Revenues
	Rental	$  2,759,561	$  4,132,975
	Interest and other	51,689	88,329
		2,811,250	4,221,304
Expenses
	Interest	383,601	605,853
	Depreciation and amortization	609,739	897,897
	Operating expenses	1,958,800	2,968,767
		2,952,140	4,472,517
NET LOSS		$  (140,890)	$  (251,213)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$  (139,481)	$  (248,701)
Net loss allocated to other Partners		$    (1,409)	$    (2,512)

 

* Amounts include $139,481 and $248,701 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 48

		2018	2017
Revenues
	Rental	$  1,498,920	$  2,019,813
	Interest and other	29,602	48,167
		1,528,522	2,067,980
Expenses
	Interest	181,371	238,885
	Depreciation and amortization	398,479	512,684
	Operating expenses	1,083,406	2,086,962
		1,663,256	2,838,531
NET LOSS		$  (134,734)	$  (770,551)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$  (133,387)	$  (762,845)
Net loss allocated to other Partners		$    (1,347)	$    (7,706)

* Amounts include $133,387 and $762,845 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 49

		2018	2017
Revenues
	Rental	$  4,897,728	$  4,782,138
	Interest and other	138,022	123,987
		5,035,750	4,906,125
Expenses
	Interest	737,694	800,231
	Depreciation and amortization	1,414,547	1,426,589
	Operating expenses	3,295,676	3,324,110
		5,447,917	5,550,930
NET LOSS		$  (412,167)	$  (644,805)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.*		$  (408,045)	$  (638,357)
Net loss allocated to other Partners		$    (4,122)	$    (6,448)

* Amounts include $408,045 and $485,113 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) - USD ($)	6 Months Ended
	Sep. 30, 2018	Mar. 31, 2018
Capital Unit [Line Items]
BACs Sold	11,777,706	11,777,706
Equity Raised	$ 117,777,060
Series 47 [Member]
Capital Unit [Line Items]
Closing Date	Apr. 30, 2004
BACs Sold	3,478,334	3,478,334
Equity Raised	$ 34,783,340
Series 48 [Member]
Capital Unit [Line Items]
Closing Date	Aug. 12, 2004
BACs Sold	2,299,372	2,299,372
Equity Raised	$ 22,993,720
Series 49 [Member]
Capital Unit [Line Items]
Closing Date	Apr. 29, 2005
BACs Sold	6,000,000	6,000,000
Equity Raised	$ 60,000,000

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ORGANIZATION (Details Textual) - USD ($)	1 Months Ended
	Aug. 31, 2004	Sep. 30, 2018	Mar. 31, 2018
Organization And Summary Of Significant Accounting Policies [Line Items]
Minimum Units Of Limited Partners Beneficial Interest For Sale		250,000
Maximum Units Of Limited Partners Beneficial Interest For Sale		7,000,000
Limited Partners Capital Account Per Units		$ 10
Limited Partners Capital Account Additional Units Registered For Sale	8,500,000
Units of limited partnership interest, issued		11,777,706	11,777,706
Limited Partners' Contributed Capital		$ 117,777,060

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RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Related Party Transaction [Line Items]
Gross Fund Management Fee	$ 229,263	$ 265,659
Series 47 [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	62,652	87,687
Series 48 [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	38,835	50,196
Series 49 [Member]
Related Party Transaction [Line Items]
Gross Fund Management Fee	$ 127,776	$ 127,776

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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	$ 266,253	$ 0	$ 1,004,768	$ 0
Series 47 [Member]
Related Party Transaction [Line Items]
Management Fees Paid	75,000	0	470,015	0
Series 48 [Member]
Related Party Transaction [Line Items]
Management Fees Paid	50,000	0	393,500	0
Series 49 [Member]
Related Party Transaction [Line Items]
Management Fees Paid	$ 141,253	$ 0	$ 141,253	$ 0

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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)	Sep. 30, 2018	Sep. 30, 2017
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	45	48
Series Forty Seven [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	12	14
Series Forty Eight [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	9	10
Series Forty Nine [Member]
Number Of Operating Partnerships [Line Items]
Number Of Operating Partnerships	24	24

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INVESTMENTS IN OPERATING PARTNERSHIPS (Details 1) - USD ($)		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017
Revenues
Rental		$ 9,156,209	$ 10,934,926
Interest and other		219,313	260,483
Operating Partnerships Revenues		9,375,522	11,195,409
Expenses
Interest		1,302,666	1,644,969
Depreciation and amortization		2,422,765	2,837,170
Operating expenses		6,337,882	8,379,839
Operating Partnerships Total Expenses		10,063,313	12,861,978
NET LOSS		(687,791)	(1,666,569)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.	[1]	(680,913)	(1,649,903)
Net loss allocated to other Partners		(6,878)	(16,666)
Series Forty Seven [Member]
Revenues
Rental		2,759,561	4,132,975
Interest and other		51,689	88,329
Operating Partnerships Revenues		2,811,250	4,221,304
Expenses
Interest		383,601	605,853
Depreciation and amortization		609,739	897,897
Operating expenses		1,958,800	2,968,767
Operating Partnerships Total Expenses		2,952,140	4,472,517
NET LOSS		(140,890)	(251,213)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.	[2]	(139,481)	(248,701)
Net loss allocated to other Partners		(1,409)	(2,512)
Series Forty Eight [Member]
Revenues
Rental		1,498,920	2,019,813
Interest and other		29,602	48,167
Operating Partnerships Revenues		1,528,522	2,067,980
Expenses
Interest		181,371	238,885
Depreciation and amortization		398,479	512,684
Operating expenses		1,083,406	2,086,962
Operating Partnerships Total Expenses		1,663,256	2,838,531
NET LOSS		(134,734)	(770,551)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.	[3]	(133,387)	(762,845)
Net loss allocated to other Partners		(1,347)	(7,706)
Series Forty Nine [Member]
Revenues
Rental		4,897,728	4,782,138
Interest and other		138,022	123,987
Operating Partnerships Revenues		5,035,750	4,906,125
Expenses
Interest		737,694	800,231
Depreciation and amortization		1,414,547	1,426,589
Operating expenses		3,295,676	3,324,110
Operating Partnerships Total Expenses		5,447,917	5,550,930
NET LOSS		(412,167)	(644,805)
Net loss allocated to Boston Capital Tax Credit Fund V L.P.	[4]	(408,045)	(638,357)
Net loss allocated to other Partners		$ (4,122)	$ (6,448)

[1] Amounts include $680,913 and $1,496,659 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

[2] Amounts include $139,481 and $248,701 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

[3] Amounts include $133,387 and $762,845 for 2018 and 2017, respectively, of loss not recognized under the equity method of accounting.

[4] Amounts include $408,045 and $485,113 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 Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting	$ 680,913	$ 1,496,659
Series Forty Seven [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting	139,481	248,701
Series Forty Eight [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting	133,387	762,845
Series Forty Nine [Member]
Investments In Operating Limited Partnerships [Line Items]
Income Loss Not Recognized Under Equity Method Accounting	$ 408,045	$ 485,113