FORM 10-Q

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

(Mark One)

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

      For the quarterly period ended September 30, 2001

                                             or

( )   TRANSITION REPORT PERSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934

      For the transition period from _______ to _______
Commission file number        0-26200

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

Delaware	04-3208648
(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)

Registrants telephone number, including area code (617)624-8900

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

      Indicate by check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceeding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes X No _

BOSTON CAPITAL TAX CREDIT FUND IV L.P.

QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED SEPTEMBER 30, 2001

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION
				Pages
	Item 1. Financial Statements
		Balance Sheets	1-23
		Statements of Operations	24-69
		Statements of Changes in Partners' Capital	70-81
		Statements of Cash Flows	82-127
		Notes to Financial Statements	128-153
	Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations		154-170
PART II - OTHER INFORMATION
	Item 6. Exhibits and Reports on Form 8-K		171
	Signatures		172

Boston Capital Tax Credit Fund IV L.P.

BALANCE SHEETS

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS  (Note D)		$418,346,102	$406,915,006
OTHER ASSETS
	Cash and cash equivalents	13,839,537	21,596,216
	Investments	12,068,076	7,839,034
	Notes receivable	10,206,847	9,701,571
	Acquisition costs	20,802,993	18,200,249
	Other assets	11,777,798	13,295,747
		$487,041,353	$477,547,823
LIABILITIES
	Accounts payable & accrued expenses  (Note C)	$    563,312	$    152,623
	Accounts payable affiliates	10,717,272	8,709,180
	Capital contributions payable	40,051,210	42,458,387
	Line of credit	2,686,342	2,125,548
		54,018,136	53,445,738
PARTNERS' CAPITAL
Limited Partners
	Units of limited partnership  interest, $10 stated value per BAC;  87,500,000 authorized BACs;  63,760,686 issued and outstanding,  as of September 30, 2001	434,168,454	425,102,598
General Partner		(1,229,181)	(1,084,457)
Unrealized gain (loss) on securities
	available for sale, net	83,944	83,944
		433,023,217	424,102,085
		$487,041,353	$477,547,823

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 20

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS  (Note D)		$ 15,841,174	$ 16,738,536
OTHER ASSETS
	Cash and cash equivalents	193,384	179,335
	Investments	-	-
	Notes receivable	-	-
	Acquisition costs	89,305	91,091
	Other assets	951,220	877,017
		$ 17,075,083	$ 17,885,979
LIABILITIES
	Accounts payable & accrued expenses  (Note C)	$          -	$          -
	Accounts payable affiliates	2,373,652	2,109,761
	Capital contributions payable	388,026	388,026
	Line of credit	-	-
		2,761,678	2,497,787
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership  interest, $10 stated value per BAC;  87,500,000 authorized BACs;  3,866,700 issued and outstanding,  as of September 30, 2001	14,500,836	15,564,875
General Partner		(187,431)	(176,683)
Unrealized gain (loss) on securities
	available for sale, net	-	-
		14,313,405	15,388,192
		$ 17,075,083	$ 17,885,979

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 21

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS  (Note D)		$ 5,172,844	$ 5,713,575
OTHER ASSETS
	Cash and cash equivalents	257,831	235,224
	Investments	197,655	232,896
	Notes receivable	641,542	641,542
	Acquisition costs	48,846	49,823
	Other assets	402,803	403,560
		$ 6,721,521	$ 7,276,620
LIABILITIES
	Accounts payable & accrued expenses  (Note C)	$         -	$         -
	Accounts payable affiliates	588,271	475,350
	Capital contributions payable	689,358	689,358
	Line of credit	-	-
		1,277,629	1,164,708
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership  interest, $10 stated value per BAC;  87,500,000 authorized BACs;  1,892,700 issued and outstanding,  as of September 30, 2001	5,550,221	6,211,561
General Partner		(107,525)	(100,845)
Unrealized gain (loss) on securities
	available for sale, net	1,196	1,196
		5,443,892	6,111,912
		$ 6,721,521	$ 7,276,620

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 22

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS  (Note D)		$11,891,656	$12,526,478
OTHER ASSETS
	Cash and cash equivalents	252,459	352,021
	Investments	167,574	126,853
	Notes receivable	450,981	450,981
	Acquisition costs	153,495	156,564
	Other assets	167,501	162,615
		$13,083,666	$13,775,512
LIABILITIES
	Accounts payable & accrued expenses  (Note C)	$         -	$         -
	Accounts payable affiliates	1,328,033	1,200,739
	Capital contributions payable	487,655	538,769
	Line of credit	-	-
		1,815,688	1,739,508
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership  interest, $10 stated value per BAC; 87,500,000 authorized BACs;  2,564,400 issued and outstanding,  as of September 30, 2001	11,373,735	12,134,081
General Partner		(106,408)	(98,728)
Unrealized gain (loss) on securities
	available for sale, net	651	651
		11,267,978	12,036,004
		$13,083,666	$13,775,512

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 23

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$18,611,949	$19,119,494
OTHER ASSETS
	Cash and cash equivalents	288,780	293,829
	Investments	-	-
	Notes receivable	306,751	306,751
	Acquisition costs	228,269	232,834
	Other assets	303,455	303,455
		$19,739,204	$20,256,363
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$         -
	Accounts payable affiliates	838,817	718,684
	Capital contributions payable	458,632	458,631
	Line of credit	-	-
		1,297,449	1,177,315
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 3,336,727 issued and outstanding, September 30, 2001	18,542,184	19,173,104
General Partner		(100,429)	(94,056)
Unrealized gain (loss) on securities
	available for sale, net	-	-
		18,441,755	19,079,048
		$19,739,204	$20,256,363

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 24

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS  (Note D)		$10,338,574	$10,964,312
0THER ASSETS
	Cash and cash equivalents	273,265	362,301
	Investments	204,527	155,081
	Notes receivable	534,342	534,342
	Acquisition costs	255,114	260,216
	Other assets	716,434	711,871
		$12,322,256	$12,988,123
LIABILITIES
	Accounts payable & accrued expenses  (Note C)	$         -	$         -
	Accounts payable affiliates	1,129,638	1,012,963
	Capital contributions payable	1,214,204	1,214,204
	Line of credit	-	-
		2,343,842	2,227,167
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership  interest, $10 stated value per BAC; 87,500,000 authorized BACs;  2,169,878 issued and outstanding,  as of September 30, 2001	10,063,145	10,837,860
0eneral Partner		(85,522)	(77,697)
Unrealized gain (loss) on securities
	available for sale, net	793	793
		9,978,416	10,760,956
		$12,322,258	$12,988,123

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 25

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$17,003,395	$17,559,746
OTHER ASSETS
	Cash and cash equivalents	412,367	494,183
	Investments	247,498	187,522
	Notes receivable	523,193	523,193
	Acquisition costs	256,206	261,330
	Other assets	1,341,728	1,353,754
		$19,784,387	$20,379,728
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$         -
	Accounts payable affiliates	854,366	718,028
	Capital contributions payable	2,073,892	2,083,892
	Line of credit	-	-
		2,928,258	2,801,920
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 3,026,109 issued and outstanding, as of September 30, 2001	16,944,057	17,658,519
General Partner		(88,893)	(81,676)
Unrealized gain (loss) on securities
	available for sale, net	965	965
		16,856,129	17,577,808
		$19,784,387	$20,379,728

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 26

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$25,668,155	$26,630,528
OTHER ASSETS
	Cash and cash equivalents	297,689	335,066
	Investments	-	-
	Notes receivable	571,335	571,335
	Acquisition costs	448,470	457,439
	Other assets	2,200,731	2,182,444
		$29,186,380	$30,176,812
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$        90	$        90
	Accounts payable affiliates	1,347,797	1,129,008
	Capital contributions payable	2,197,433	2,199,426
	Line of credit	-	-
		3,545,320	3,328,524
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 3,995,900 issued and outstanding, as of September 30, 2001	25,724,902	26,920,058
General Partner		(83,842)	(71,770)
Unrealized gain (loss) on securities
	available for sale, net	-	-
		25,641,060	26,848,288
		$29,186,380	$30,176,812

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 27

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$15,339,345	$15,763,571
OTHER ASSETS
	Cash and cash equivalents	479,033	647,352
	Investments	289,171	219,105
	Notes receivable	-	-
	Acquisition costs	373,668	381,142
	Other assets	172,632	173,250
		$16,653,849	$17,184,420
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$         -
	Accounts payable affiliates	1,117,301	959,699
	Capital contributions payable	203,270	315,311
	Line of credit	-	-
		1,320,571	1,275,010
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 2,460,700 issued and outstanding, as of September 30, 2001	15,385,282	15,955,653
General Partner		(53,125)	(47,364)
Unrealized gain (loss) on securities
	available for sale, net	1,121	1,121
		15,333,278	15,909,410
		$16,653,849	$17,184,420

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 28

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$27,134,032	$27,883,913
OTHER ASSETS
	Cash and cash equivalents	852,214	1,117,380
	Investments	988,369	1,463,320
	Notes receivable	-	-
	Acquisition costs	82,512	84,161
	Other assets	3,510	6,074
		$29,060,637	$30,554,848
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$         -
	Accounts payable affiliates	-	-
	Capital contributions payable	148,783	744,786
	Line of credit	-	-
		148,783	744,786
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 4,000,738 issued and outstanding, as of September 30, 2001	28,962,135	29,851,361
General Partner		(54,674)	(45,692)
Unrealized gain (loss) on securities
	available for sale, net	4,393	4,393
		28,911,854	29,810,062
		$29,060,637	$30,554,848

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 29

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$25,797,982	$26,617,342
OTHER ASSETS
	Cash and cash equivalents	435,474	875,595
	Investments	420,807	311,083
	Notes receivable	20,935	20,935
	Acquisition costs	82,729	84,385
	Other assets	592	573
		$26,758,519	$27,909,913
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$         -
	Accounts payable affiliates	140,825	-
	Capital contributions payable	304,770	596,044
	Line of credit	-	-
		445,595	596,044
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 3,991,800 issued and outstanding, as of September 30, 2001	26,382,417	27,373,353
General Partner		(75,578)	(65,569)
Unrealized gain (loss) on securities
	available for sale, net	6,085	6,085
		26,312,924	27,313,869
		$26,758,519	$27,909,913

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 30

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$18,195,996	$18,947,341
OTHER ASSETS
	Cash and cash equivalents	530,113	735,208
	Investments	321,207	237,413
	Notes receivable	85,438	85,438
	Acquisition costs	530,916	541,522
	Other assets	631,491	666,912
		$20,295,161	$21,213,834
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$         -
	Accounts payable affiliates	-	-
	Capital contributions payable	881,506	1,034,250
	Line of credit	-	-
		881,506	1,034,250
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 2,651,000 issued and outstanding, as of September 30, 2001	19,441,960	20,200,230
General Partner		(32,966)	(25,307)
Unrealized gain (loss) on securities
	available for sale, net	4,661	4,661
		19,413,655	20,179,584
		$20,295,161	$21,213,834

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 31

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$28,833,825	$29,919,423
OTHER ASSETS
	Cash and cash equivalents	435,186	1,118,740
	Investments	510,510	489,108
	Notes receivable	655,675	855,675
	Acquisition costs	-	-
	Other assets	634,651	259,997
		$31,069,847	$32,642,943
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$         -
	Accounts payable affiliates	-	-
	Capital contributions payable	1,030,019	1,350,694
	Line of credit	-	-
		1,030,019	1,350,694
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 4,417,857 issued and outstanding, as of September 30, 2001	30,109,217	31,349,114
General Partner		(78,957)	(66,433)
Unrealized gain (loss) on securities
	available for sale, net	9,568	9,568
		30,039,828	31,292,249
		$31,069,847	$32,642,943

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 32

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$34,591,209	$35,003,481
OTHER ASSETS
	Cash and cash equivalents	783,248	1,111,983
	Investments	426,952	483,852
	Notes receivable	104,000	104,000
	Acquisition costs	759,958	764,950
	Other assets	579,918	482,763
		$37,245,285	$37,951,029
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$         -
	Accounts payable affiliates	246,217	80,152
	Capital contributions payable	1,050,342	1,286,333
	Line of credit	-	-
		1,296,559	1,366,485
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 4,754,198 issued and outstanding, as of September 30, 2001	35,986,217	36,615,677
General Partner		(46,969)	(40,611)
Unrealized gain (loss) on securities
	available for sale, net	9,478	9,478
		35,948,726	36,584,544
		$37,245,285	$37,951,029

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 33

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$19,493,652	$19,646,067
OTHER ASSETS
	Cash and cash equivalents	768,723	1,147,109
	Investments	81,466	623,376
	Notes receivable	113,575	113,575
	Acquisition costs	681,986	695,613
	Other assets	236,955	175,148
		$21,376,357	$22,400,888
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$     2,536
	Accounts payable affiliates	232,401	145,515
	Capital contributions payable	751,366	1,557,634
	Line of credit	-	-
		983,767	1,705,685
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 2,636,533 issued and outstanding, as of September 30, 2001	20,402,374	20,701,961
General Partner		(21,977)	(18,951)
Unrealized gain (loss) on securities
	available for sale, net	12,193	12,193
		20,392,590	20,695,203
		$21,376,357	$22,400,888

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 34

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$25,023,049	$25,611,061
OTHER ASSETS
	Cash and cash equivalents	262,477	349,527
	Investments	-	-
	Notes receivable	439,562	439,562
	Acquisition costs	1,083,862	1,105,542
	Other assets	555,242	513,890
		$27,364,192	$28,019,582
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$         -
	Accounts payable affiliates	157,417	10,837
	Capital contributions payable	1,016,412	1,051,622
	Line of credit	-	-
		1,173,829	1,062,459
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 3,529,319 issued and outstanding, as of September 30, 2001	26,228,869	26,987,961
General Partner		(38,506)	(30,838)
Unrealized gain (loss) on securities
	available for sale, net	-	-
		26,190,363	26,957,123
		$27,364,192	$28,019,582

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 35

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$21,108,195	$22,009,700
OTHER ASSETS
	Cash and cash equivalents	458,042	681,948
	Investments	1,227,238	1,047,325
	Notes receivable	718,319	718,318
	Acquisition costs	3,071,550	3,132,994
	Other assets	134,298	768,378
		$26,717,642	$28,358,663
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$       224	$       224
	Accounts payable affiliates	31,682	92
	Capital contributions payable	1,784,146	2,520,290
	Line of credit	-	-
		1,816,052	2,520,606
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 3,300,463 issued and outstanding, as of September 30, 2001	24,924,724	25,851,826
General Partner		(33,109)	(23,744)
Unrealized gain (loss) on securities
	available for sale, net	9,975	9,975
		24,901,590	25,838,057
		$26,717,642	$28,358,663

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 36

		September 30, 2001 (Unaudited)		March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)			$14,413,644		$14,753,049
OTHER ASSETS
	Cash and cash equivalents		224,169		440,801
	Investments		-		-
	Notes receivable		539,353		539,353
	Acquisition costs		2,109,007		2,146,752
	Other assets		598,159		583,368
			$17,884,332		$18,463,323
LIABILITIES
	Accounts payable & accrued expenses (Note C)		$         -		$     4,410
	Accounts payable affiliates		210,623		130,247
	Capital contributions payable		1,329,341		1,460,200
	Line of credit		-		-
			1,539,964		1,594,857
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 2,106,837 issued and outstanding, as of September 30, 2001		16,359,588		16,878,445
General Partner			(15,220)		(9,979)
Unrealized gain (loss) on securities
	available for sale, net		-		-
			16,344,368		16,868,466
			$17,884,332		$18,463,323

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 37

		September 30, 2001 (Unaudited)		March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)			$18,158,572		$18,470,074
OTHER ASSETS
	Cash and cash equivalents		446,078		1,357,135
	Investments		5,382		581,399
	Notes receivable		2,199,878		2,812,196
	Acquisition costs		2,339,127		2,372,609
	Other assets		40,642		1,564,777
			$23,189,679		$27,158,190
LIABILITIES
	Accounts payable & accrued expenses (Note C)		$       350		$    26,871
	Accounts payable affiliates		25,182		85
	Capital contributions payable		2,320,748		5,838,932
	Line of credit		-		-
			2,346,280		5,865,888
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 2,512,500 issued and outstanding, as of September 30, 2001		20,846,200		21,290,614
General Partner			(8,183)		(3,694)
Unrealized gain (loss) on securities
	available for sale, net		5,382		5,382
			20,843,399		21,292,302
			$23,189,679		$27,158,190

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 38

		September 30, 2001 (Unaudited)		March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)			$18,832,200		$18,847,690
OTHER ASSETS
	Cash and cash equivalents		1,053,331		3,300,784
	Investments		1,336,073		216,934
	Notes receivable		-		755,920
	Acquisition costs		2,636,087		2,655,867
	Other assets		32,049		160,038
			$23,889,740		$25,937,233
LIABILITIES
	Accounts payable & accrued expenses (Note C)		$         -		$     2,733
	Accounts payable affiliates		17,490		-
	Capital contributions payable		2,552,174		4,429,476
	Line of credit		-		-
			2,569,664		4,432,209
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 2,543,000 issues and outstanding, September 30, 2001		21,319,965		21,503,064
General Partner			(4,126)		(2,277)
Unrealized gain (loss) on securities
	available for sale, net		4,237		4,237
			21,320,076		21,505,024
			$23,889,740		$25,937,233

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 39

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$17,173,983	$16,411,959
OTHER ASSETS
	Cash and cash equivalents	960,280	5,907,337
	Investments	2,700,846	1,463,767
	Notes receivable	312,318	228,455
	Acquisition costs	2,387,682	2,337,478
	Other assets	263,473	29,308
		$23,798,582	$26,378,304
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$    28,722
	Accounts payable affiliates	1,668	-
	Capital contributions payable	4,511,190	6,821,583
	Line of credit	-	-
		4,512,858	6,850,305
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 2,292,152 issued and outstanding, as of September 30, 2001	19,276,204	19,516,181
General Partner		(3,726)	(1,428)
Unrealized gain (loss) on securities
	available for sale, net	13,246	13,246
		19,285,724	19,527,999
		$23,798,582	$26,378,304

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 40

		September 30, 2001 (Unaudited)	March 31, 2001 (Audited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$16,552,741	$ 7,777,666
OTHER ASSETS
	Cash and cash equivalents	3,102,112	553,358
	Investments	2,942,801	-
	Notes receivable	1,989,650	-
	Acquisition costs	2,681,917	387,937
	Other assets	311,698	1,916,555
		$27,580,919	$10,635,516
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$         -	$    87,037
	Accounts payable affiliates	47,619	18,020
	Capital contributions payable	5,088,636	5,878,926
	Line of credit	-	2,125,548
		5,136,255	8,109,531
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 2,630,257 issued and outstanding, as of September 30, 2001	22,446,653	2,527,100
General Partner		(1,989)	(1,115)
Unrealized gain (loss) on securities
	available for sale, net	-	-
		22,444,664	2,525,985
		$27,580,919	$10,635,516

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
BALANCE SHEETS

Series 41*

		September 30, 2001 (Unaudited)
ASSETS
INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)		$13,169,930
OTHER ASSETS
	Cash and cash equivalents	1,073,282
	Investments	-
	Notes receivable	-
	Acquisition costs	502,287
	Other assets	1,498,616
		$16,244,115
LIABILITIES
	Accounts payable & accrued expenses (Note C)	$   562,648
	Accounts payable affiliates	28,275
	Capital contributions payable	9,569,307
	Line of credit	2,686,342
		12,846,572
PARTNERS CAPITAL
Limited Partners
	Units of limited partnership interest, $10 stated value per BAC; 87,500,000 authorized BACs; 402,800 issued and outstanding, as of September 30, 2001	3,397,569
General Partner		(26)
Unrealized gain (loss) on securities
	available for sale, net	-
		3,397,543
		$16,244,115

*Series 41 did not commence operations until after March 31, 2001, therefore, it does not have comparative information to report.

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

		2001	2000
Income
	Interest income	$    203,726	$    832,357
	Other income	2,336	-
		206,062	832,357
Share of loss from Operating Partnerships (Note D)		(5,671,369)	(3,966,301)
Expenses
	Professional fees	288,297	311,429
	Fund management fee (Note C)	1,311,120	1,150,135
	Organization costs	27,936	-
	Amortization	132,981	125,293
	General and administrative expenses	198,762	252,461
		1,959,096	1,839,318
NET INCOME (LOSS)		$(7,424,403)	$(4,973,262)
Net income (loss) allocated to limited partners		$(7,350,159)	$(4,923,527)
Net income (loss) allocated to general partner		$   (74,244)	$   (49,735)
Net income (loss) per BAC		$     (2.38)	$     (1.60)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 20

		2001	2000
Income
	Interest income	$        646	$        989
	Other income	2,336	-
		2,982	989
Share of loss from Operating Partnerships(Note D)		(498,017)	(501,964)
Expenses
	Professional fees	15,693	16,000
	Fund management fee (Note C)	91,408	73,214
	Organization costs	-	-
	Amortization	893	893
	General and administrative expenses	8,296	9,364
		116,290	99,471
NET INCOME (LOSS)		$  (611,325)	$  (600,446)
Net income (loss) allocated to limited partners		$  (605,212)	$  (594,442)
Net income (loss) allocated to general partner		$    (6,113)	$    (6,004)
Net income (loss) per BAC		$      (.16)	$      (.15)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 21

		2001	2000
Income
	Interest income	$      3,273	$      8,371
	Other income	-	-
		3,273	8,371
Share of loss from Operating  Partnerships(Note D)		(245,410)	(197,967)
Expenses
	Professional fees	11,206	1,652
	Fund management fee (Note C)	55,460	54,460
	Organization costs	-	-
	Amortization	488	488
	General and administrative expenses	5,189	6,846
		72,343	73,703
NET INCOME (LOSS)		$  (314,480)	$  (263,299)
Net income (loss) allocated to limited partners		$  (311,335)	$  (260,666)
Net income (loss) allocated to general  partner		$    (3,145)	$    (2,633)
Net income (loss) per BAC		$      (.16)	$      (.14)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 22

		2001	2000
Income
	Interest income	$      2,833	$      4,702
	Other income	-	-
		2,833	4,702
Share of loss from Operating  Partnerships(Note D)		(310,959)	(300,072)
Expenses
	Professional fees	16,518	16,982
	Fund management fee (Note C)	61,548	61,336
	Organization costs	-	-
	Amortization	1,535	1,535
	General and administrative expenses	6,552	8,157
		86,153	88,010
NET INCOME (LOSS)		$  (394,279)	$  (383,380)
Net income (loss) allocated to limited partners		$  (390,336)	$  (379,546)
Net income (loss) allocated to general  partner		$    (3,943)	$    (3,834)
Net income (loss) per BAC		$      (.15)	$      (.15)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 23

		2001	2000
Income
	Interest income	$      1,254	$      2,487
	Other income	-	-
		1,254	2,487
Share of loss from Operating Partnerships(Note D)		(236,522)	(274,849)
Expenses
	Professional fees	15,663	16,000
	Fund management fee (Note C)	60,066	60,066
	Organization costs	-	-
	Amortization	2,283	1,562
	General and administrative expenses	7,562	9,129
		85,574	86,757
NET INCOME (LOSS)		$  (320,842)	$  (359,119)
Net income (loss) allocated to limited partners		$  (317,634)	$  (355,528)
Net income (loss) allocated to general partner		$    (3,208)	$    (3,591)
Net income (loss) per BAC		$      (.10)	$      (.11)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 24

		2001	2000
Income
	Interest income	$      3,369	$      4,150
	Other income	-	-
		3,369	4,150
Share of loss from Operating Partnerships(Note D)		(275,444)	(360,221)
Expenses
	Professional fees	22,383	21,052
	Fund management fee (Note C)	58,338	58,338
	Organization costs	-	-
	Amortization	2,551	2,551
	General and administrative expenses	5,591	6,171
		88,863	88,112
NET INCOME (LOSS)		$  (360,938)	$  (444,183)
Net income (loss) allocated to limited partners		$  (357,329)	$  (439,741)
Net income (loss) allocated to general partner		$    (3,609)	$    (4,442)
Net income (loss) per BAC		$      (.16)	$      (.20)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 25

		2001	2000
Income
	Interest income	$     4,430	$     9,926
	Other income	-	-
		4,430	9,926
Share of loss from Operating  Partnerships(Note D)		(288,398)	(344,309)
Expenses
	Professional fees	16,414	18,705
	Fund management fee (Note C)	66,769	64,969
	Organization costs	-	-
	Amortization	3,805	3,805
	General and administrative expenses	7,114	6,927
		94,102	94,406
NET INCOME (LOSS)		$ (378,070)	$ (428,789)
Net income (loss) allocated to limited partners		$ (374,289)	$ (424,501)
Net income (loss) allocated to general  partner		$   (3,781)	$   (4,288)
Net income (loss) per BAC		$     (.12)	$     (.14)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 26

		2001	2000
Income
	Interest income	$     1,093	$     2,918
	Other income	-	-
		1,093	2,918
Share of loss from Operating Partnerships(Note D)		(486,631)	(253,933)
Expenses
	Professional fees	23,266	23,919
	Fund management fee (Note C)	103,219	87,243
	Organization costs	-	-
	Amortization	4,485	4,340
	General and administrative expenses	8,375	8,597
		139,345	124,099
NET INCOME (LOSS)		$ (624,883)	$ (375,114)
Net income (loss) allocated to limited partners		$ (618,634)	$ (371,363)
Net income (loss) allocated to general partner		$   (6,249)	$   (3,751)
Net income (loss) per BAC		$     (.14)	$     (.09)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 27

		2001	2000
Income
	Interest income	$     4,811	$     7,258
	Other income	-	-
		4,811	7,258
Share of loss from Operating Partnerships(Note D)		(218,013)	(187,763)
Expenses
	Professional fees	13,328	13,821
	Fund management fee (Note C)	73,451	64,601
	Organization costs	-	-
	Amortization	3,914	3,914
	General and administrative expenses	5,943	5,752
		96,636	88,088
NET INCOME (LOSS)		$ (309,838)	$ (268,593)
Net income (loss) allocated to limited partners		$ (306,740)	$ (265,907)
Net income (loss) allocated to general partner		$   (3,098)	$   (2,686)
Net income (loss) per BAC		$     (.12)	$     (.11)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 28

		2001	2000
Income
	Interest income	$    15,280	$    41,602
	Other income	-	-
		15,280	41,602
Share of loss from Operating  Partnerships(Note D)		(318,835)	(266,163)
Expenses
	Professional fees	19,731	19,914
	Fund management fee (Note C)	83,021	83,529
	Organization costs	-	-
	Amortization	825	825
	General and administrative expenses	9,619	12,128
		113,196	116,396
NET INCOME (LOSS)		$ (416,751)	$ (340,957)
Net income (loss) allocated to limited partners		$ (412,583)	$ (337,547)
Net income (loss) allocated to general  partner		$   (4,168)	$   (3,410)
Net income (loss) per BAC		$     (.10)	$     (.08)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 29

		2001	2000
Income
	Interest income	$     7,370	$    39,241
	Other income	-	-
		7,370	39,241
Share of loss from Operating Partnerships(Note D)		(343,024)	(329,548)
Expenses
	Professional fees	16,465	17,557
	Fund management fee (Note C)	84,495	73,895
	Organization costs	-	-
	Amortization	828	813
	General and administrative expenses	9,601	8,318
		111,389	100,583
NET INCOME (LOSS)		$ (447,043)	$ (390,890)
Net income (loss) allocated to limited partners		$ (442,573)	$ (386,981)
Net income (loss) allocated to general partner		$   (4,470)	$   (3,909)
Net income (loss) per BAC		$     (.11)	$     (.10)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 30

		2001	2000
Income
	Interest income	$     6,926	$   109,838
	Other income	-	-
		6,926	109,838
Share of loss from Operating  Partnerships(Note D)		(354,069)	(173,256)
Expenses
	Professional fees	14,346	16,605
	Fund management fee (Note C)	54,579	50,479
	Organization costs	-	-
	Amortization	5,309	5,303
	General and administrative expenses	6,426	23,909
		80,660	96,296
NET INCOME (LOSS)		$ (427,803)	$ (159,714)
Net income (loss) allocated to limited partners		$ (423,525)	$ (158,117)
Net income (loss) allocated to general  partner		$   (4,278)	$   (1,597)
Net income (loss) per BAC		$     (.16)	$     (.06)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 31

		2001	2000
Income
	Interest income	$    19,516	$    76,724
	Other income	-	-
		19,516	76,724
Share of loss from Operating Partnerships(Note D)		(577,563)	(430,886)
Expenses
	Professional fees	18,000	19,263
	Fund management fee (Note C)	94,359	86,876
	Organization costs	-	-
	Amortization	-	-
	General and administrative expenses	9,772	8,919
		122,131	115,058
NET INCOME (LOSS)		$ (680,178)	$ (469,220)
Net income (loss) allocated to limited partners		$ (673,376)	$ (464,527)
Net income (loss) allocated to general partner		$   (6,802)	$   (4,693)
Net income (loss) per BAC		$     (.15)	$     (.11)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 32

		2001	2000
Income
	Interest income	$     8,844	$    79,193
	Other income	-	-
		8,844	79,193
Share of loss from Operating Partnerships(Note D)		(262,260)	(175,301)
Expenses
	Professional fees	16,376	19,615
	Fund management fee (Note C)	78,588	75,375
	Organization costs	-	-
	Amortization	9,181	9,074
	General and administrative expenses	10,961	10,393
		115,106	114,457
NET INCOME (LOSS)		$ (368,522)	$ (210,565)
Net income (loss) allocated to limited partners		$ (364,837)	$ (208,459)
Net income (loss) allocated to general partner		$   (3,685)	$   (2,106)
Net income (loss) per BAC		$     (.08)	$     (.04)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 33

		2001	2000
Income
	Interest income	$     4,571	$    85,943
	Other income	-	-
		4,571	85,943
Share of loss from Operating Partnerships(Note D)		(77,738)	(33,126)
Expenses
	Professional fees	7,351	11,176
	Fund management fee (Note C)	33,443	42,333
	Organization costs	-	-
	Amortization	6,820	6,770
	General and administrative expenses	6,465	32,341
		54,079	92,620
NET INCOME (LOSS)		$ (127,246)	$  (39,803)
Net income (loss) allocated to limited partners		$ (125,974)	$  (39,405)
Net income (loss) allocated to general Partner		$   (1,272)	$     (398)
Net income (loss) per BAC		$     (.05)	$     (.01)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 34

		2000	1999
Income
	Interest income	$     1,513	$    53,814
	Other income	-	-
		1,513	53,814
Share of loss from Operating  Partnerships(Note D)		(331,390)	32,584
Expenses
	Professional fees	12,707	16,454
	Fund management fee (Note C)	68,290	73,155
	Organization costs	-	-
	Amortization	10,984	10,789
	General and administrative expenses	7,600	8,687
		99,581	109,085
NET INCOME (LOSS)		$ (429,458)	$  (22,687)
Net income (loss) allocated to limited partners		$ (425,163)	$  (22,460)
Net income (loss) allocated to general  partner		$   (4,295)	$     (227)
Net income (loss) per BAC		$     (.12)	$     (.01)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 35

		2001	2000
Income
	Interest income	$    17,868	$    55,955
	Other income	-	-
		17,868	55,955
Share of loss from Operating  Partnerships(Note D)		(321,769)	(115,304)
Expenses
	Professional fees	6,364	11,966
	Fund management fee (Note C)	52,651	49,660
	Organization costs	-	-
	Amortization	32,310	30,433
	General and administrative expenses	10,515	9,549
		101,840	101,608
NET INCOME (LOSS)		$ (405,741)	$ (160,957)
Net income (loss) allocated to limited partners		$ (401,684)	$ (159,347)
Net income (loss) allocated to general  partner		$   (4,057)	$   (1,610)
Net income (loss) per BAC		$     (.12)	$     (.05)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 36

		2001	2000
Income
	Interest income	$     1,047	$    20,140
	Other income	-	-
		1,047	20,140
Share of loss from Operating Partnerships(Note D)		(152,032)	(54,233)
Expenses
	Professional fees	6,974	24,841
	Fund management fee (Note C)	39,313	40,189
	Organization costs	-	-
	Amortization	22,116	20,817
	General and administrative expenses	6,587	14,979
		74,990	100,826
NET INCOME (LOSS)		$ (225,975)	$ (134,909)
Net income (loss) allocated to limited partners		$ (223,715)	$ (133,560)
Net income (loss) allocated to general partner		$   (2,260)	$   (1,349)
Net income (loss) per BAC		$     (.11)	$     (.06)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 37

		2001	2000
Income
	Interest income	$     1,719	$   121,445
	Other income	-	-
		1,719	121,445
Share of loss from Operating  Partnerships(Note D)		(146,709)	-
Expenses
	Professional fees	7,240	10,216
	Fund management fee (Note C)	43,956	26,697
	Organization costs	-	-
	Amortization	23,306	21,381
	General and administrative expenses	6,747	29,421
		81,249	87,715
NET INCOME (LOSS)		$ (226,239)	$    33,730
Net income (loss) allocated to limited partners		$ (223,977)	$    33,393
Net income (loss) allocated to general  partner		$   (2,262)	$       337
Net income (loss) per BAC		$     (.09)	$       .01

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 38

		2001	2000
Income
	Interest income	$    17,980	$   105,717
	Other income	-	-
		17,980	105,717
Share of loss from Operating  Partnerships(Note D)		(62,194)	-
Expenses
	Professional fees	7,830	5,434
	Fund management fee (Note C)	40,533	23,720
	Organization costs	-	-
	Amortization	712	-
	General and administrative expenses	10,704	17,817
		59,779	46,971
NET INCOME (LOSS)		$ (103,993)	$    58,746
Net income (loss) allocated to limited partners		$ (102,953)	$    58,159
Net income (loss) allocated to general  partner		$   (1,040)	$       587
Net income (loss) per BAC		$     (.04)	$         -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 39

		2001	2000
Income
	Interest income	$     43,360	$     1,944
	Other income	-	-
		43,360	1,944
Share of loss from Operating  Partnerships(Note D)		(164,392)	-
Expenses
	Professional fees	13,439	-
	Fund management fee (Note C)	29,484	-
	Organization costs	-	-
	Amortization	636	-
	General and administrative expenses	16,160	15,057
		59,719	15,057
NET INCOME (LOSS)		$ (180,751)	$  (13,113)
Net income (loss) allocated to limited partners		$ (178,943)	$  (12,982)
Net income (loss) allocated to general  partner		$   (1,808)	$     (131)
Net income (loss) per BAC		$    (0.08)	$         -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 40*

		2001
Income
	Interest income	$    32,850
	Other income	-
		32,850
Share of loss from Operating Partnerships(Note D)		-
Expenses
	Professional fees	7,003
	Fund management fee (Note C)	38,149
	Organization costs	27,936
	Amortization	-
	General and administrative expenses	27,228
		100,316
NET INCOME (LOSS)		$  (67,466)
Net income (loss) allocated to limited partners		$  (66,791)
Net income (loss) allocated to general partner		$     (675)
Net income (loss) per BAC		$     (.03)

*Series 40 did not commence operations until after September 30,2000, therefore it does not have comparative information to report.

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 41*

		2001
Income
	Interest income	$    3,173
	Other income	-
		3,173
Share of loss from Operating Partnerships(Note D)		-
Expenses
	Professional fees	-
	Fund management fee (Note C)	-
	Organization costs	-
	Amortization	-
	General and administrative expenses	5,755
		5,755
NET INCOME (LOSS)		$   (2,582)
Net income (loss) allocated to limited partners		$   (2,556)
Net income (loss) allocated to general partner		$      (26)
Net income (loss) per BAC		$     (.01)

*Series 41 did not commence operations until after September 30,2000, therefore it does not have comparative information to report

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

		2001	2000
Income
	Interest income	$     422,197	$  1,493,215
	Other income	2,336	-
		424,533	1,493,215
Share of loss from Operating Partnerships (Note D)		(11,453,337)	(8,402,139)
Expenses
	Professional fees	425,184	383,274
	Fund management fee (Note C)	2,431,897	2,230,676
	Organization costs	27,936	-
	Amortization	266,660	250,721
	General and administrative expenses	292,047	603,082
		3,443,724	3,467,753
NET INCOME (LOSS)		$(14,472,528)	$(10,376,677)
Net income (loss) allocated to limited partners		$(14,327,804)	$(10,272,910)
Net income (loss) allocated to general partner		$   (144,724)	$   (103,767)
Net income (loss) per BAC		$      (4.65)	$      (3.32)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 20

		2001	2000
Income
	Interest income	$      1,419	$      2,365
	Other income	2,336	-
		3,755	2,365
Share of loss from Operating Partnerships(Note D)		(886,927)	(915,917)
Expenses
	Professional fees	20,539	18,188
	Fund management fee (Note C)	157,221	147,747
	Organization costs	-	-
	Amortization	1,786	1,786
	General and administrative expenses	12,069	17,455
		191,615	185,176
NET INCOME (LOSS)		$(1,074,787)	$(1,098,728)
Net income (loss) allocated to limited partners		$(1,064,039)	$(1,087,741)
Net income (loss) allocated to general partner		$   (10,748)	$   (10,987)
Net income (loss) per BAC		$      (.28)	$      (.28)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 21

		2001	2000
Income
	Interest income	$      6,699	$     21,637
	Other income	-	-
		6,699	21,637
Share of loss from Operating  Partnerships(Note D)		(540,298)	(486,745)
Expenses
	Professional fees	14,718	13,560
	Fund management fee (Note C)	110,600	107,280
	Organization costs	-	-
	Amortization	977	977
	General and administrative expenses	8,126	13,101
		134,421	134,918
NET INCOME (LOSS)		$  (668,020)	$  (600,026)
Net income (loss) allocated to limited partners		$  (661,340)	$  (594,026)
Net income (loss) allocated to general  partner		$    (6,680)	$    (6,000)
Net income (loss) per BAC		$      (.35)	$      (.31)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 22

		2001	2000
Income
	Interest income	$      6,013	$     12,126
	Other income	-	-
		6,013	12,126
Share of loss from Operating  Partnerships(Note D)		(628,685)	(666,060)
Expenses
	Professional fees	21,656	18,947
	Fund management fee (Note C)	110,357	106,555
	Organization costs	-	-
	Amortization	3,070	3,070
	General and administrative expenses	10,271	14,931
		145,354	143,503
NET INCOME (LOSS)		$  (768,026)	$  (797,437)
Net income (loss) allocated to limited partners		$  (760,346)	$  (789,463)
Net income (loss) allocated to general  partner		$    (7,680)	$    (7,974)
Net income (loss) per BAC		$      (.30)	$      (.31)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 23

		2001	2000
Income
	Interest income	$      3,191	$      5,246
	Other income	-	-
		3,191	5,246
Share of loss from Operating Partnerships(Note D)		(503,108)	(587,697)
Expenses
	Professional fees	19,661	17,332
	Fund management fee (Note C)	101,789	101,632
	Organization costs	-	-
	Amortization	4,565	3,123
	General and administrative expenses	11,361	16,344
		137,376	138,431
NET INCOME (LOSS)		$  (637,293)	$  (720,882)
Net income (loss) allocated to limited partners		$  (630,920)	$  (713,673)
Net income (loss) allocated to general partner		$    (6,373)	$    (7,209)
Net income (loss) per BAC		$      (.19)	$      (.21)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 24

		2001	2000
Income
	Interest income	$      6,905	$     10,686
	Other income	-	-
		6,905	10,686
Share of loss from Operating Partnerships(Note D)		(621,684)	(703,210)
Expenses
	Professional fees	39,381	31,179
	Fund management fee (Note C)	112,476	115,551
	Organization costs	-	-
	Amortization	5,102	5,102
	General and administrative expenses	10,802	13,647
		167,761	165,479
NET INCOME (LOSS)		$  (782,540)	$  (858,003)
Net income (loss) allocated to limited partners		$  (774,715)	$  (849,423)
Net income (loss) allocated to general partner		$    (7,825)	$    (8,580)
Net income (loss) per BAC		$      (.36)	$      (.39)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 25

		2001	2000
Income
	Interest income	$     8,984	$    25,647
	Other income	-	-
		8,984	25,647
Share of loss from Operating  Partnerships(Note D)		(564,806)	(715,369)
Expenses
	Professional fees	21,622	24,589
	Fund management fee (Note C)	125,638	124,858
	Organization costs	-	-
	Amortization	7,609	7,609
	General and administrative expenses	10,988	17,337
		165,857	174,393
NET INCOME (LOSS)		$ (721,679)	$ (864,115)
Net income (loss) allocated to limited partners		$ (714,462)	$ (855,474)
Net income (loss) allocated to general  partner		$   (7,217)	$   (8,641)
Net income (loss) per BAC		$     (.24)	$     (.28)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 26

		2001	2000
Income
	Interest income	$      2,614	$    52,823
	Other income	-	-
		2,614	52,823
Share of loss from Operating Partnerships(Note D)		(953,910)	(530,058)
Expenses
	Professional fees	31,289	26,744
	Fund management fee (Note C)	203,214	190,538
	Organization costs	-	-
	Amortization	8,969	8,681
	General and administrative expenses	12,460	17,892
		255,932	243,855
NET INCOME (LOSS)		$(1,207,228)	$ (721,090)
Net income (loss) allocated to limited partners		$(1,195,156)	$ (713,879)
Net income (loss) allocated to general partner		$   (12,072)	$   (7,211)
Net income (loss) per BAC		$      (.30)	$     (.18)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 27

		2001	2000
Income
	Interest income	$     9,607	$    19,550
	Other income	-	-
		9,607	19,550
Share of loss from Operating Partnerships(Note D)		(413,204)	(450,079)
Expenses
	Professional fees	20,342	15,505
	Fund management fee (Note C)	135,147	133,772
	Organization costs	-	-
	Amortization	7,827	7,827
	General and administrative expenses	9,219	13,099
		172,535	170,203
NET INCOME (LOSS)		$ (576,132)	$ (600,732)
Net income (loss) allocated to limited partners		$ (570,371)	$ (594,725)
Net income (loss) allocated to general partner		$   (5,761)	$   (6,007)
Net income (loss) per BAC		$     (.23)	$     (.24)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 28

		2001	2000
Income
	Interest income	$    36,876	$    90,358
	Other income	-	-
		36,876	90,358
Share of loss from Operating  Partnerships(Note D)		(738,486)	(670,249)
Expenses
	Professional fees	31,082	23,643
	Fund management fee (Note C)	147,750	161,723
	Organization costs	-	-
	Amortization	1,650	1,650
	General and administrative expenses	16,116	26,021
		196,598	213,037
NET INCOME (LOSS)		$ (898,208)	$ (792,928)
Net income (loss) allocated to limited partners		$ (889,226)	$ (784,999)
Net income (loss) allocated to general  partner		$   (8,982)	$   (7,929)
Net income (loss) per BAC		$     (.22)	$     (.20)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 29

		2001	2000
Income
	Interest income	$     16,080	$    66,365
	Other income	-	-
		16,080	66,365
Share of loss from Operating Partnerships(Note D)		(811,396)	(613,746)
Expenses
	Professional fees	25,619	20,214
	Fund management fee (Note C)	163,643	146,524
	Organization costs	-	-
	Amortization	1,656	1,626
	General and administrative expenses	14,711	30,314
		205,629	198,678
NET INCOME (LOSS)		$(1,000,945)	$ (746,059)
Net income (loss) allocated to limited partners		$  (990,936)	$ (738,598)
Net income (loss) allocated to general partner		$   (10,009)	$   (7,461)
Net income (loss) per BAC		$      (.25)	$     (.19)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 30

		2001	2000
Income
	Interest income	$    15,226	$   144,566
	Other income	-	-
		15,226	144,566
Share of loss from Operating  Partnerships(Note D)		(640,613)	(359,212)
Expenses
	Professional fees	23,683	21,421
	Fund management fee (Note C)	96,308	96,158
	Organization costs	-	-
	Amortization	10,618	10,601
	General and administrative expenses	9,933	38,290
		140,542	166,470
NET INCOME (LOSS)		$ (765,929)	$ (381,116)
Net income (loss) allocated to limited partners		$ (758,270)	$ (377,305)
Net income (loss) allocated to general  partner		$   (7,659)	$   (3,811)
Net income (loss) per BAC		$     (.29)	$     (.14)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 31

		2001	2000
Income
	Interest income	$     32,218	$    91,957
	Other income	-	-
		32,218	91,957
Share of loss from Operating Partnerships(Note D)		(1,082,473)	(793,104)
Expenses
	Professional fees	29,686	23,604
	Fund management fee (Note C)	156,670	143,052
	Organization costs	-	-
	Amortization	-	-
	General and administrative expenses	15,810	38,262
		202,166	204,918
NET INCOME (LOSS)		$(1,252,421)	$ (906,065)
Net income (loss) allocated to limited partners		$(1,239,897)	$ (897,004)
Net income (loss) allocated to general partner		$   (12,524)	$   (9,061)
Net income (loss) per BAC		$      (.28)	$     (.20)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 32

		2001	2000
Income
	Interest income	$    22,039	$   125,026
	Other income	-	-
		22,039	125,026
Share of loss from Operating Partnerships(Note D)		(439,073)	(382,059)
Expenses
	Professional fees	29,262	23,889
	Fund management fee (Note C)	154,463	157,750
	Organization costs	-	-
	Amortization	18,263	18,140
	General and administrative expenses	16,796	52,176
		218,784	251,955
NET INCOME (LOSS)		$ (635,818)	$ (508,988)
Net income (loss) allocated to limited partners		$ (629,460)	$ (503,898)
Net income (loss) allocated to general partner		$   (6,358)	$   (5,090)
Net income (loss) per BAC		$     (.13)	$     (.11)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 33

		2001	2000
Income
	Interest income	$    14,172	$   139,785
	Other income	-	-
		14,172	139,785
Share of loss from Operating Partnerships(Note D)		(221,227)	(143,852)
Expenses
	Professional fees	12,545	16,697
	Fund management fee (Note C)	59,574	80,246
	Organization costs	-	-
	Amortization	13,640	13,472
	General and administrative expenses	9,799	51,450
		95,558	161,865
NET INCOME (LOSS)		$ (302,613)	$ (165,932)
Net income (loss) allocated to limited partners		$ (299,587)	$ (164,273)
Net income (loss) allocated to general Partner		$   (3,026)	$   (1,659)
Net income (loss) per BAC		$     (.11)	$     (.06)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 34

		2001	2000
Income
	Interest income	$     4,008	$    106,810
	Other income	-	-
		4,008	106,810
Share of loss from Operating  Partnerships(Note D)		(583,753)	(124,985)
Expenses
	Professional fees	16,275	21,246
	Fund management fee (Note C)	137,980	146,310
	Organization costs	-	-
	Amortization	21,971	21,426
	General and administrative expenses	10,789	42,630
		187,015	231,612
NET INCOME (LOSS)		$ (766,760)	$ (249,787)
Net income (loss) allocated to limited partners		$ (759,092)	$ (247,289)
Net income (loss) allocated to general  partner		$   (7,668)	$   (2,498)
Net income (loss) per BAC		$     (.22)	$     (.07)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 35

		2001	2000
Income
	Interest income	$    36,515	$   153,739
	Other income	-	-
		36,515	153,739
Share of loss from Operating  Partnerships(Note D)		(777,908)	(234,218)
Expenses
	Professional fees	10,152	16,254
	Fund management fee (Note C)	104,702	104,320
	Organization costs	-	-
	Amortization	64,629	60,729
	General and administrative expenses	15,591	78,782
		195,074	260,085
NET INCOME (LOSS)		$  (936,467)	$ (340,564)
Net income (loss) allocated to limited partners		$  (927,102)	$ (337,158)
Net income (loss) allocated to general  partner		$    (9,365)	$   (3,406)
Net income (loss) per BAC		$      (.28)	$     (.10)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 36

		2001	2000
00
Income
	Interest income	$     2,776	$    54,104
	Other income	-	-
		2,776	54,104
Share of loss from Operating Partnerships(Note D)		(389,552)	(25,579)
Expenses
	Professional fees	9,761	27,689
	Fund management fee (Note C)	74,519	77,614
	Organization costs	-	-
	Amortization	44,231	42,307
	General and administrative expenses	8,811	26,016
		137,322	173,626
NET INCOME (LOSS)		$ (524,098)	$ (145,101)
Net income (loss) allocated to limited partners		$ (518,857)	$ (143,650)
Net income (loss) allocated to general partner		$   (5,241)	$   (1,451)
Net income (loss) per BAC		$     (.25)	$     (.07)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 37

		2001	2000
Income
	Interest income	$     9,006	$   233,634
	Other income	-	-
		9,006	233,634
Share of loss from Operating  Partnerships(Note D)		(309,109)	-
Expenses
	Professional fees	10,743	15,639
	Fund management fee (Note C)	79,894	53,394
	Organization costs	-	-
	Amortization	47,320	42,595
	General and administrative expenses	10,843	51,762
		148,800	163,390
NET INCOME (LOSS)		$ (448,903)	$    70,244
Net income (loss) allocated to limited partners		$ (444,414)	$    69,542
Net income (loss) allocated to general  partner		$   (4,489)	$       702
Net income (loss) per BAC		$     (.18)	$       .03

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 38

		2001	2000
Income
	Interest income	$    42,061	$   134,847
	Other income	-	-
		42,061	134,847
Share of loss from Operating  Partnerships(Note D)		(118,625)	-
Expenses
	Professional fees	11,015	6,184
	Fund management fee (Note C)	81,066	35,652
	Organization costs	-	-
	Amortization	1,505	-
	General and administrative expenses	14,762	28,516
		108,348	70,352
NET INCOME (LOSS)		$ (184,912)	$    64,495
Net income (loss) allocated to limited partners		$ (183,063)	$    63,850
Net income (loss) allocated to general  partner		$   (1,849)	$       645
Net income (loss) per BAC		$     (.07)	$       .02

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 39

		2001	2000
Income
	Interest income	$    104,530	$     1,944
	Other income	-	-
		104,530	1,944
Share of loss from Operating  Partnerships(Note D)		(228,500)	-
Expenses
	Professional fees	19,150	750
	Fund management fee (Note C)	58,968	-
	Organization costs	-	-
	Amortization	1,272	-
	General and administrative expenses	26,441	15,057
		105,831	15,807
NET INCOME (LOSS)		$ (229,801)	$  (13,863)
Net income (loss) allocated to limited partners		$ (227,503)	$  (13,724)
Net income (loss) allocated to general  partner		$   (2,298)	$     (139)
Net income (loss) per BAC		$     (.10)	$         -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 40*

		2001
Income
	Interest income	$    38,085
	Other income	-
		38,085
Share of loss from Operating Partnerships(Note D)		-
Expenses
	Professional fees	7,003
	Fund management fee (Note C)	59,918
	Organization costs	27,936
	Amortization	-
	General and administrative expenses	30,594
		125,451
NET INCOME (LOSS)		$  (87,366)
Net income (loss) allocated to limited partners		$  (86,492)
Net income (loss) allocated to general partner		$     (874)
Net income (loss) per BAC		$     (.03)

*Series 40 did not commence operations until after September 30,2000, therefore it does not have comparative information to report.

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

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

Series 41*

		2001
Income
	Interest income	$     3,173
	Other income	-
		3,173
Share of loss from Operating Partnerships(Note D)		-
Expenses
	Professional fees	-
	Fund management fee (Note C)	-
	Organization costs	-
	Amortization	-
	General and administrative expenses	5,755
		5,755
NET INCOME (LOSS)		$   (2,582)
Net income (loss) allocated to limited partners		$   (2,556)
Net income (loss) allocated to general partner		$      (26)
Net income (loss) per BAC		$     (.01)

*Series 41 did not commence operations until after September 30,2000, therefore it does not have comparative information to report.

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Partners' capital (deficit)   April 1, 2001	$ 425,102,598	$ (1,084,457)	$     83,944	$ 424,102,085
Capital contributions	26,918,800	-	-	26,918,800
Selling commissions and   registration costs	(3,525,140)	- -	- -	(3,525,140)
Net income (loss)	(14,327,804)	(144,724)	-	(14,472,528)
Partners' capital (deficit),   September 30, 2001	$ 434,168,454	$ (1,229,181)	$     83,944	$ 433,023,217

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Series 20
Partners' capital (deficit)   April 1, 2001	$ 15,564,875	$  (176,683)	$          -	$ 15,388,192
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(1,064,039)	(10,748)	-	(1,074,787)
Partners' capital (deficit),   September 30, 2001	$ 14,500,836	$  (187,431)	$         -	$ 14,313,405
Series 21
Partners' capital (deficit)   April 1, 2001	$  6,211,561	$  (100,845)	$     1,196	$  6,111,912
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(661,340)	(6,680)	-	(668,020)
Partners' capital (deficit),   September 30, 2001	$  5,550,221	$  (107,525)	$     1,196	$  5,443,892

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Series 22
Partners' capital (deficit)   April 1, 2001	$ 12,134,081	$   (98,728)	$        651	$ 12,036,004
Capital contributions	-	-	-	-
Selling commissions and registration costs	- -	- -	- -	- -
Net income (loss)	(760,346)	(7,680)	-	(768,026)
Partners' capital (deficit),   September 30, 2001	$ 11,373,735	$  (106,408)	$        651	$ 11,267,978
Series 23
Partners' capital (deficit)   April 1, 2001	$ 19,173,104	$   (94,056)	$         -	$ 19,079,048
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(630,920)	(6,373)	-	(637,293)
Partners' capital (deficit),   September 30, 2001	$ 18,542,184	$  (100,429)	$          -	$ 18,441,755

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Series 24
Partners' capital  (deficit)   April 1, 2001	$ 10,837,860	$   (77,697)	$        793	$ 10,760,956
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(417,387)	(4,216)	-	(421,603)
Partners' capital (deficit),   September 30, 2001	$ 10,420,473	$   (81,913)	$        793	$ 10,339,353
Series 25
Partners' capital (deficit)   April 1, 2001	$ 17,658,519	$   (81,676)	$        965	$ 17,577,808
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(714,462)	(7,217)	-	(721,679)
Partners' capital (deficit),   September 30, 2001	$ 16,944,057	$    (88,893)	$        965	$ 16,856,129

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Series 26
Partners' capital (deficit)   April 1, 2001	$ 26,920,058	$   (71,770)	$          -	$ 26,848,288
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(1,195,156)	(12,072)	-	(1,207,228)
Partners' capital (deficit),   September 30, 2001	$ 25,724,902	$    (83,842)	$          -	$ 25,641,060
Series 27
Partners' capital (deficit)   April 1, 2001	$ 15,955,653	$    (47,364)	$      1,121	$ 15,909,410
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(570,371)	(5,761)	-	(576,132)
Partners' capital (deficit),   September 30, 2001	$ 15,385,282	$    (53,125)	$      1,121	$ 15,333,278

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Series 28
Partners' capital (deficit)   April 1, 2001	$ 29,851,361	$   (45,692)	$      4,393	$ 29,810,062
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(889,226)	(8,982)	-	(898,208)
Partners' capital (deficit),   September 30, 2001	$ 28,962,135	$   (54,674)	$      4,393	$ 28,911,854
Series 29
Partners' capital (deficit)   April 1, 2001	$ 27,373,353	$   (65,569)	$      6,085	$ 27,313,869
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(990,936)	(10,009)	-	(1,000,945)
Partners' capital (deficit),   September 30, 2001	$ 26,382,417	$    (75,578)	$      6,085	$ 26,312,924

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Series 30
Partners' capital (deficit)   April 1, 2001	$ 20,200,230	$   (25,307)	$      4,661	$ 20,179,584
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(758,270)	(7,659)	-	(765,929)
Partners' capital (deficit),   September 30, 2001	$ 19,441,960	$   (32,966)	$      4,661	$ 19,413,655
Series 31
Partners' capital (deficit)   April 1, 2001	$ 31,349,114	$   (66,433)	$      9,568	$ 31,292,249
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(1,239,897)	(12,524)	-	(1,252,421)
Partners' capital (deficit),   September 30, 2001	$ 30,109,217	$   (78,957)	$      9,568	$ 30,039,828

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Series 32
Partners' capital (deficit)   April 1, 2001	$ 36,615,677	$   (40,611)	$      9,478	$ 36,584,544
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(629,460)	(6,358)	-	(635,818)
Partners' capital (deficit),   September 30, 2001	$ 35,986,217	$   (46,969)	$      9,478	$ 35,948,726
Series 33
Partners' capital (deficit)   April 1, 2001	$ 20,701,961	$   (18,951)	$     12,193	$ 20,695,203
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(299,587)	(3,026)	-	(302,613)
Partners' capital (deficit),   September 30, 2001	$ 20,402,374	$   (21,977)	$     12,193	$ 20,392,590

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Series 34
Partners' capital (deficit)   April 1, 2001	$ 26,987,961	$   (30,838)	$          -	$ 26,957,123
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	- -
Net income (loss)	(759,092)	(7,668)	-	(766,760)
Partners' capital (deficit),   September 30, 2001	$ 26,228,869	$   (38,506)	$          -	$ 26,190,363
Series 35
Partners' capital (deficit)   April 1, 2001	$ 25,851,826	$   (23,744)	$      9,975	$ 25,838,057
Capital contributions	-	-	-	-
Selling commissions and   registration costs	-	-	-	-
Net income (loss)	(927,102)	(9,365)	-	(936,467)
Partners' capital (deficit),   September 30, 2001	$ 24,924,724	$   (33,109)	$      9,975	$ 24,901,590

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Series 36
Partners' capital (deficit)   April 1, 2001	$ 16,878,445	$     (9,979)	$          -	$ 16,868,466
Capital contributions	-	-	-	-
Selling commissions and   registration costs	- -	- -	- -	-
Net income (loss)	(518,857)	(5,241)	-	(524,098)
Partners' capital (deficit),   September 30, 2001	$ 16,359,588	$    (15,220)	$          -	$ 16,344,368
Series 37
Partners' capital (deficit)   April 1, 2001	$ 21,290,614	$     (3,694)	$      5,382	$ 21,292,302
Capital contributions	-	-	-	-
Selling commissions and   registration costs	-	-	-	-
Net income (loss)	(444,414)	(4,489)	-	(448,903)
Partners' capital (deficit),   September 30, 2001	$ 20,846,200	$     (8,183)	$      5,382	$ 20,843,399

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Series 38
Partners' capital (deficit)   April 1, 2001	$ 21,503,064	$    (2,277)	$      4,237	$ 21,505,024
Capital contributions	-	-	-	-
Selling commissions and   registration costs	(36)	- -	- -	(36)
Net income (loss)	(183,063)	(1,849)	-	(184,912)
Partners' capital (deficit),   September 30, 2001	$ 21,319,965	$    (4,126)	$      4,237	$ 21,320,076
Series 39
Partners' capital (deficit)   April 1, 2001	$ 19,516,181	$    (1,428)	$     13,246	$ 19,527,999
Capital contributions	-	-	-	-
Selling commissions and   registration costs	(12,474)	- -	-	(12,474)
Net income (loss)	(227,503)	(2,298)	-	(229,801)
Partners' capital (deficit),   September 30, 2001	$ 19,276,204	$    (3,726)	$     13,246	$ 19,285,724

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

Six Months Ended September 30, 2001
(Unaudited)

	Assignees	General Partner	Accumulated or other comprehensive income	Total
Series 40
Partners' capital (deficit)   April 1, 2001	$ 2,527,100	$    (1,115)	$          -	$  2,525,985
Capital contributions	22,890,800	-	-	22,890,800
Selling commissions and   registration costs	(2,884,755)	- -	- -	(2,884,755)
Net income (loss)	(86,492)	(874)	-	(87,366)
Partners' capital (deficit),   September 30, 2001	$ 22,446,653	$    (1,989)	$          -	$ 22,444,664

Series 41
Partners' capital (deficit)   April 1, 2001	$         -	$         -	$          -	$         -
Capital contributions	4,028,000	-	-	4,028,000
Selling commissions and   registration costs	(627,875)	- -	- -	(627,875)
Net income (loss)	(2,556)	(26)	-	(2,582)
Partners' capital (deficit),   September 30, 2001	$ 3,397,569	$      (26)	$          -	$ 3,397,543

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$(14,472,528)	$(10,376,677)
	Adjustments
		Amortization		266,660	250,721
		Distributions from Operating   Partnerships		66,741	83,094
		Share of Loss from Operating   Partnerships		11,453,337	8,402,139
	Changes in assets and liabilities
		Decrease (Increase) in    organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		410,689	169,176
		Decrease (Increase) in prepaid   expenses		- -	- -
		Decrease (Increase) in accounts   receivable		1,696,326	(2,901,788)
		(Decrease) Increase in accounts   payable affiliates		2,008,091	1,518,852
		Line of credit		560,794	3,329,810
			Net cash (used in) provided by  operating activities	1,990,110	475,327
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			(2,926,705)	(1,106,020)
	Capital contributions paid to    Operating Partnerships			(25,479,426)	(35,820,617)
	Advances to Operating Partnerships			(448,375)	494,883
	Investments			(4,285,943)	17,419,975
			Net cash (used in) provided by investing activities	(33,140,449)	(19,011,779)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		(3,525,140)	(3,469,742)
	Capital contributions received		26,918,800	25,518,000
		Net cash (used in) provided by financing activities	23,393,660	22,048,258
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(7,756,679)	3,511,806
Cash and cash equivalents, beginning			21,596,216	15,484,389
Cash and cash equivalents, ending			$  13,839,537	$  18,996,195
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$  10,260,887	$  15,421,430

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 20

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$(1,074,787)	$(1,098,728)
	Adjustments
		Amortization		1,786	1,786
		Distributions from Operating   Partnerships		10,439	15,172
		Share of Loss from Operating   Partnerships		886,927	915,917
	Changes in assets and liabilities
		Decrease (Increase) in    organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in accounts   receivable		(74,206)	(78,634)
		(Decrease) Increase in accounts   payable affiliates		263,890	189,624
		Line of credit		-	-
			Net cash (used in) provided by  operating activities	14,049	(54,863)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	- -
	Capital contributions paid to    Operating Partnerships			-	-
	Advances to Operating Partnerships			-	-
	Investments			-	-
			Net cash (used in) provided by investing activities	-	-

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 20

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			14,049	(54,863)
Cash and cash equivalents, beginning			179,335	312,723
Cash and cash equivalents, ending			$    193,384	$    257,860
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 21

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (668,020)	$  (600,026)
	Adjustments
		Amortization		977	977
		Distributions from Operating   Partnerships		433	437
		Share of Loss from Operating   Partnerships		540,298	486,745
	Changes in assets and liabilities
		Decrease (Increase) in    organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in accounts   receivable		757	(187)
		(Decrease) Increase in accounts   payable affiliates		112,921	112,920
		Line of credit		-	-
			Net cash (used in) provided by  operating activities	(12,634)	866
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	- -
	Capital contributions paid to    Operating Partnerships			- -	- -
	Advances to Operating Partnerships			-	-
	Investments			35,241	8,643
			Net cash (used in) provided by investing activities	35,241	8,643

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 21

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			22,607	9,509
Cash and cash equivalents, beginning			235,224	272,223
Cash and cash equivalents, ending			257,831	281,732
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 22

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (768,026)	$  (797,437)
	Adjustments
		Amortization		3,070	3,070
		Distributions from Operating   Partnerships		6,136	3,909
		Share of Loss from Operating   Partnerships		628,685	666,060
	Changes in assets and liabilities
		Decrease (Increase) in    organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in prepaid   expenses		- -	- -
		Decrease (Increase) in accounts   receivable		(4,886)	(99)
		(Decrease) Increase in accounts   payable affiliates		127,294	127,298
		Line of credit		-	-
			Net cash (used in) provided by  operating activities	(7,727)	2,801
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	- -
	Capital contributions paid to    Operating Partnerships			(51,114)	- -
	Advances to Operating Partnerships			-	-
	Investments			(40,721)	4,541
			Net cash (used in) provided by investing activities	(91,835)	4,541

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 22

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(99,562)	7,342
Cash and cash equivalents, beginning			352,021	271,654
Cash and cash equivalents, ending			$    252,459	$    278,996
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 23

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (637,293)	$  (720,882)
	Adjustments
		Amortization		4,565	3,123
		Distributions from Operating   Partnerships		4,438	- -
		Share of Loss from Operating   Partnerships		503,108	587,697
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in prepaid   expenses		- -	- -
		Decrease (Increase) in accounts   receivable		- -	- -
		(Decrease) Increase in accounts   payable affiliates		120,133	120,133
		Line of credit		-	-
			Net cash (used in) provided by operating activities	(5,049)	(9,929)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	- -
	Capital contributions paid to   Operating Partnerships			-	- -
	Advances to Operating Partnerships			-	-
	Investments			-	-
			Net cash (used in) provided by investing activities	-	-

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 23

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(5,049)	(9,929)
Cash and cash equivalents, beginning			293,829	339,179
Cash and cash equivalents, ending			$    288,780	$    329,250
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 24

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (782,540)	$  (858,003)
	Adjustments
		Amortization		5,102	5,102
		Distributions from Operating   Partnerships		4,054	- -
		Share of Loss from Operating   Partnerships		621,684	703,210
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in accounts   receivable		(4,563)	(19,664)
		(Decrease) Increase in accounts   payable affiliates		116,673	116,678
		Line of credit		-	-
			Net cash (used in) provided by operating activities	(39,590)	(52,677)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	- -
	Capital contributions paid to   Operating Partnerships			- -	- -
	Advances to Operating Partnerships			-	-
	Investments			(49,446)	3,967
			Net cash (used in) provided by investing activities	(49,446)	3,967

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 24

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(89,036)	48,710
Cash and cash equivalents, beginning			362,301	294,853
Cash and cash equivalents, ending			$    273,265	$    264,143
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 25

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (721,679)	$  (864,115)
	Adjustments
		Amortization		7,609	7,609
		Distributions from Operating   Partnerships		(10,940)	4,105
		Share of Loss from Operating   Partnerships		564,806	715,369
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in accounts   receivable		12,026	(192)
		(Decrease) Increase in accounts   payable affiliates		136,338	136,338
		Line of credit		-	-
			Net cash (used in) provided by operating activities	(11,840)	(886)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	- -
	Capital contributions paid to   Operating Partnerships			(10,000)	(51,996)
	Advances to Operating Partnerships			-	-
	Investments			(59,976)	8,921
			Net cash (used in) provided by investing activities	(69,976)	(43,075)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 25

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(81,816)	(43,961)
Cash and cash equivalents, beginning			494,183	526,832
Cash and cash equivalents, ending			$    412,367	$    482,871
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,

(Unaudited)

Series 26

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$(1,207,228)	$  (721,090)
	Adjustments
		Amortization		8,969	8,681
		Distributions from Operating   Partnerships		6,472	20,999
		Share of Loss from Operating   Partnerships		953,910	530,058
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in accounts   receivable		(18,287)	20,742
		(Decrease) Increase in accounts   payable affiliates		218,789	218,786
		Line of credit		-	-
			Net cash (used in) provided by operating activities	(37,375)	78,176
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	- -
	Capital contributions paid to   Operating Partnerships			(1,995)	(181,121)
	Advances to Operating Partnerships			-	-
	Investments			-	217,461
			Net cash (used in) provided by investing activities	(1,995)	36,340

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 26

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(37,377)	114,516
Cash and cash equivalents, beginning			335,066	201,802
Cash and cash equivalents, ending			$    297,689	$    316,318
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 27

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (576,132)	$  (600,732)
	Adjustments
		Amortization		7,827	7,827
		Distributions from Operating   Partnerships		8,141	5,863
		Share of Loss from Operating   Partnerships		413,204	450,079
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in accounts   receivable		617	540,152
		(Decrease) Increase in accounts   payable affiliates		157,602	157,603
		Line of credit		-	-
			Net cash (used in) provided by Operating activities	11,259	560,792
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	- -
	Capital contributions paid to   Operating Partnerships			(109,512)	(552,764)
	Advances to Operating Partnerships			-	-
	Investments			(70,066)	193,831
			Net cash (used in) provided by investing activities	(179,578)	(358,933)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 27

		2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid	-	-
	Capital contributions received	-	-
	Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(168,319)	201,859
Cash and cash equivalents, beginning		647,352	250,061
Cash and cash equivalents, ending		$    479,033	$    451,920
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships		$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 28

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (898,208)	$  (792,928)
	Adjustments
		Amortization		1,650	1,650
		Distributions from Operating   Partnerships		11,394	2,558
		Share of Loss from Operating   Partnerships		738,486	670,249
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in accounts   receivable		2,564	(345)
		(Decrease) Increase in accounts   payable affiliates		- -	- -
		Line of credit		-	-
			Net cash (used in) provided by operating activities	(144,114)	(118,816)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	- -
	Capital contributions paid to   Operating Partnerships			(596,003)	- -
	Advances to Operating Partnerships			-	-
	Investments			474,951	560,178
			Net cash (used in) provided by investing activities	(121,052)	560,178

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 28

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(265,166)	441,362
Cash and cash equivalents, beginning			1,117,380	1,096,622
Cash and cash equivalents, ending			$    852,214	$  1,537,984
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,

(Unaudited)

Series 29

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$ (1,000,945)	$  (746,059)
	Adjustments
		Amortization		1,656	1,626
		Distributions from Operating   Partnerships		610	1,050
		Share of Loss from Operating   Partnerships		811,396	613,746
	Changes in assets and liabilities
		Decrease (Increase) in    organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in accounts   receivable		(19)	16,910
		(Decrease) Increase in accounts   payable affiliates		140,825	- -
		Line of credit		-	-
			Net cash (used in) provided by  operating activities	(46,477)	(112,727)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	- -
	Capital contributions paid to    Operating Partnerships			(283,919)	(604,409)
	Advances to Operating Partnerships			-	-
	Investments			(109,725)	1,091,789
			Net cash (used in) provided by investing activities	(393,644)	487,380

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 29

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(440,121)	374,653
Cash and cash equivalents, beginning			875,595	387,679
Cash and cash equivalents, ending			$    435,474	$    762,332
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 30

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (765,929)	$  (381,116)
	Adjustments
		Amortization		10,618	10,601
		Distributions from Operating   Partnerships		9,220	- -
		Share of Loss from Operating   Partnerships		640,613	11,512
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in accounts   receivable		(14)	(82,274)
		(Decrease) Increase in accounts   payable affiliates		- -	- -
		Line of credit		-	-
			Net cash (used in) provided by operating activities	(105,492)	(82,065)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			(12)	(874)
	Capital contributions paid to   Operating Partnerships			(15,797)	(335,806)
	Advances to Operating Partnerships			-	-
	Investments			(83,794)	880,131
			Net cash (used in) provided by investing activities	(99,603)	543,451

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 30

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(205,095)	461,386
Cash and cash equivalents, beginning			735,208	403,328
Cash and cash equivalents, ending			$    530,113	$    864,714
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 31

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$(1,252,421)	$  (906,065)
	Adjustments
		Amortization		-	-
		Distributions from Operating   Partnerships		9,587	1,487
		Share of Loss from Operating   Partnerships		1,082,473	793,104
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	(1,315)
		Decrease (Increase) in accounts   receivable		(374,654)	62,319
		(Decrease) Increase in accounts   payable affiliates		- -	- -
		Line of credit		-	-
			Net cash (used in) provided by operating activities	(535,015)	(50,470)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	(45,122)
	Capital contributions paid to   Operating Partnerships			(327,137)	(3,537,500)
	Advances to Operating Partnerships			200,000	1,706,296
	Investments			(21,402)	1,737,280
			Net cash (used in) provided by investing activities	(148,539)	(139,046)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 31

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(683,554)	(189,516)
Cash and cash equivalents, beginning			1,118,740	1,449,979
Cash and cash equivalents, ending			$    435,186	$  1,260,463
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$     22,855

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 32

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (635,818)	$   (508,988)
	Adjustments
		Amortization		18,263	18,140
		Distributions from Operating   Partnerships		500	16,002
		Share of Loss from Operating   Partnerships		439,073	382,059
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		-	- -
		Decrease (Increase) in accounts   receivable		14,315	797,082
		(Decrease) Increase in accounts   payable affiliates		166,065	165,748
		Line of credit		-	-
			Net cash (used in) provided by operating activities	2,398	870,043
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			(10,108)	(1,822)
	Capital contributions paid to   Operating Partnerships			(377,925)	(951,543)
	Advances to Operating Partnerships			56,900	-
	Investments			-	1,261,712
			Net cash (used in) provided by investing activities	(331,133)	308,347

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 32

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(328,735)	1,178,390
Cash and cash equivalents, beginning			1,111,983	240,584
Cash and cash equivalents, ending			$    783,248	$  1,418,974
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 33

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (302,613)	$  (165,932)
	Adjustments
		Amortization		13,640	13,472
		Distributions from Operating   Partnerships		- -	- -
		Share of Loss from Operating   Partnerships		221,227	143,852
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		(2,536)	- -
		Decrease (Increase) in accounts   receivable		44,474	(127,883)
		(Decrease) Increase in accounts   payable affiliates		86,886	84,666
		Line of credit		-	-
			Net cash (used in) provided by operating activities	61,078	(51,825)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			(13)	(14,195)
	Capital contributions paid to   Operating Partnerships			(981,361)	(305,129)
	Advances to Operating Partnerships			-	(113,575)
	Investments			541,910	1,265,009
			Net cash (used in) provided by investing activities	(439,464)	832,110

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 33

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(378,386)	780,285
Cash and cash equivalents, beginning			1,147,109	597,735
Cash and cash equivalents, ending			$    768,723	$  1,378,020
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 34

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (766,760)	$  (249,787)
	Adjustments
		Amortization		21,971	21,426
		Distributions from Operating   Partnerships		138	- -
		Share of Loss from Operating   Partnerships		583,753	124,985
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	- -
		Decrease (Increase) in accounts   receivable		(47,256)	33,733
		(Decrease) Increase in accounts   payable affiliates		146,580	- -
		Line of credit		-	-
			Net cash (used in) provided by operating activities	(61,574)	(69,643)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	(28,988)
	Capital contributions paid to   Operating Partnerships			(25,476)	(2,666,907)
	Advances to Operating Partnerships			-	751,050
	Investments			-	2,540,178
			Net cash (used in) provided by investing activities	(25,476)	595,333

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 34

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	-
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	-
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(87,050)	525,690
Cash and cash equivalents, beginning			349,527	672,010
Cash and cash equivalents, ending			$    262,477	$  1,197,700
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 35

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (936,467)	$  (340,564)
		Adjustments
		Amortization		64,629	60,729
		Distributions from Operating   Partnerships		- -	- -
		Share of Loss from Operating   Partnerships		777,908	234,218
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		- -	(1,719)
		Decrease (Increase) in accounts   receivable		634,081	321,400
		(Decrease) Increase in accounts   payable affiliates		31,590	26,808
		Line of credit		-	-
			Net cash (used in) provided by operating activities	571,741	300,872
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			- -	(31,695)
	Capital contributions paid to   Operating Partnerships			(615,734)	(2,952,057)
	Advances to Operating Partnerships			-	(274,342)
	Investments			(179,913)	2,740,173
			Net cash (used in) provided by investing activities	(795,647)	(517,921)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 35

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	(500)
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	(500)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(223,906)	(217,549)
Cash and cash equivalents, beginning			681,948	701,756
Cash and cash equivalents, ending			$    458,042	$    484,207
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 36

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (524,098)	$  (145,101)
	Adjustments
		Amortization		44,231	42,307
		Distributions from Operating   Partnerships		1,645	- -
		Share of Loss from Operating   Partnerships		389,552	25,579
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		(4,410)	- -
		Decrease (Increase) in accounts   receivable		(14,791)	241,855
		(Decrease) Increase in accounts   payable affiliates		80,376	24,940
		Line of credit		-	-
			Net cash (used in) provided by operating activities	(27,495)	189,580
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			(4,435)	(66,579)
	Capital contributions paid to   Operating Partnerships			(184,702)	(2,906,804)
	Advances to Operating Partnerships			-	829,067
	Investments			-	2,105,011
			Net cash (used in) provided by investing activities	(189,137)	(39,305)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 36

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	(5,171)
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	(5,171)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(216,632)	145,104
Cash and cash equivalents, beginning			440,801	328,095
Cash and cash equivalents, ending			$    224,169	$    473,199
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$          -

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 37

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (448,903)	$   70,244
	Adjustments
		Amortization		47,320	42,595
		Distributions from Operating   Partnerships		- -	- -
		Share of Loss from Operating   Partnerships		309,109	- -
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		(26,521)	- -
		Decrease (Increase) in accounts   receivable		1,524,110	296,768
		(Decrease) Increase in accounts   payable affiliates		25,097	(9,420)
		Line of credit		-	-
			Net cash (used in) provided by operating activities	1,430,212	400,187
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			(11,421)	(38,464)
	Capital contributions paid to   Operating Partnerships			(3,518,183)	(4,356,611)
	Advances to Operating Partnerships			612,318	(2,403,613)
	Investments			576,017	3,501,711
			Net cash (used in) provided by investing activities	(2,341,269)	(3,296,977)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 37

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		-	(9,436)
	Capital contributions received		-	-
		Net cash (used in) provided by financing activities	-	(9,436)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(911,057)	(2,906,226)
Cash and cash equivalents, beginning			1,357,135	5,952,947
Cash and cash equivalents, ending			$    446,078	$  3,046,721
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$          -	$  2,132,571

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 38

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (184,912)	$     64,495
	Adjustments
		Amortization		1,505	-
		Distributions from Operating   Partnerships		4,474	- -
		Share of Loss from Operating   Partnerships		118,625	- -
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		(2,733)	(416,169)
		Decrease (Increase) in accounts   receivable		127,989	(2,198,038)
		(Decrease) Increase in accounts   payable affiliates		17,490	9,384
		Line of credit		-	(976,349)
			Net cash (used in) provided by operating activities	82,438	(3,516,677)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			19,779	(382,326)
	Capital contributions paid to   Operating Partnerships			(1,986,415)	- -
	Advances to Operating Partnerships			755,920	(10,983,672)
	Investments			(1,119,139)	(700,561)
			Net cash (used in) provided by investing activities	(2,329,855)	(12,066,559)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 38

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		(36)	(2,742,732)
	Capital contributions received		-	20,968,000
		Net cash (used in) provided by financing activities	(36)	18,225,268
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(2,247,453)	2,642,032
Cash and cash equivalents, beginning			3,300,784	1,184,327
Cash and cash equivalents, ending			$  1,053,331	$  3,826,359
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$    116,325	$  6,765,120

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 39

				2001	2000
Cash flows from operating activities:
	Net income (loss)			$  (229,801)	$  (13,863)
	Adjustments
		Amortization		1,272	-
		Distributions from Operating   Partnerships		- -	- -
		Share of Loss from Operating   Partnerships		228,500	- -
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -	- -
		(Decrease) Increase in accounts   payable and accrued expenses		(28,722)	588,379
		Decrease (Increase) in accounts   receivable		(234,165)	(2,725,778)
		(Decrease) Increase in accounts   payable affiliates		1,668	37,691
		Line of credit		-	4,306,159
			Net cash (used in) provided by operating activities	(261,248)	2,192,588
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			(50,204)	(495,955)
	Capital contributions paid to   Operating Partnerships			(3,302,189)	(5,434,298)
	Advances to Operating Partnerships			(83,863)	-
	Investments			(1,237,079)	-
			Net cash (used in) provided by investing activities	(4,673,335)	(5,930,253)

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

Series 39

			2001	2000
Continued
Cash flows from financing activities:
	Sales and registration costs paid		(12,474)	(711,903)
	Capital contributions received		-	4,550,000
		Net cash (used in) provided by financing activities	(12,474)	3,838,097
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(4,947,057)	100,432
Cash and cash equivalents, beginning			5,907,337	-
Cash and cash equivalents, ending			$    930,280	$    100,432
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$    334,686	$  6,500,884

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

				Series 40* 2001
Cash flows from operating activities:
	Net income (loss)				$   (87,366)
	Adjustments
		Amortization		-
		Distributions from Operating   Partnerships		- -
		Share of Loss from Operating   Partnerships		- -
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -
		(Decrease) Increase in accounts   payable and accrued expenses		(87,037)
		Decrease (Increase) in accounts   receivable		1,604,857
		(Decrease) Increase in accounts   payable affiliates		29,599
		Line of credit		(2,125,548)
			Net cash (used in) provided by operating activities	(665,495)
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired				(2,360,039)
	Capital contributions paid to   Operating Partnerships				(9,499,306)
	Advances to Operating Partnerships				(1,989,650)
	Investments				(2,942,801)
			Net cash (used in) provided by investing activities	(16,791,796)

*Series 40 did not commence operations until after September 30, 2000,
therefore it does not have comparative information to report.

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

			Series 40* 2001
Continued
Cash flows from financing activities:
	Sales and registration costs paid		(2,884,755)
	Capital contributions received		22,890,800
		Net cash (used in) provided by financing activities	20,006,045
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			2,548,754
Cash and cash equivalents, beginning			553,358
Cash and cash equivalents, ending			$  3,102,112
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$    240,569

*Series 40 did not commence operations until after September 30, 2000,
therefore it does not have comparative information to report.

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

				Series 41* 2001
Cash flows from operating activities:
	Net income (loss)			$     (2,582)
	Adjustments
		Amortization		-
		Distributions from Operating   Partnerships		- -
		Share of Loss from Operating   Partnerships		- -
	Changes in assets and liabilities
		Decrease (Increase) in   organization costs		- -
		(Decrease) Increase in accounts   payable and accrued expenses		562,648
		Decrease (Increase) in accounts   receivable		(1,498,616)
		(Decrease) Increase in accounts   payable affiliates		28,275
		Line of credit		2,686,342
			Net cash (used in) provided by operating activities	1,776,067
Cash flows from investing activities:
	Acquisition costs repaid (paid) for   Operating Partnerships acquired   or to be acquired			(510,252)
	Capital contributions paid to   Operating Partnerships			(3,592,658)
	Advances to Operating Partnerships			-
	Investments			-
			Net cash (used in) provided by investing activities	(4,102,910)

*Series 41 did not commence operations until after September 30, 2000,
therefore it does not have comparative information to report.

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.

STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)

			Series 41* 2001
Continued
Cash flows from financing activities:
	Sales and registration costs paid		(627,875)
	Capital contributions received		4,028,000
		Net cash (used in) provided by financing activities	3,400,125
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			1,073,282
Cash and cash equivalents, beginning			-
Cash and cash equivalents, ending			$ 1,073,282
Supplemental schedule of non-cash   investing and financing activities   the fund has increased its investments   for unpaid capital contributions   due to the Operating Partnerships			$ 9,569,307

*Series 41 did not commence operations until after September 30, 2000,
therefore it does not have comparative information to report.

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE A - ORGANIZATION

Boston Capital Tax Credit Fund IV L.P. (the "Fund") was organized under the laws of the State of Delaware as of October 5, 1993, for the purpose of acquiring, holding, and disposing of limited partnership interests in Operating Partnerships which will acquire, develop, rehabilitate, operate and own newly constructed, existing or rehabilitated low-income apartment complexes ("Operating Partnerships"). Effective as of June 1, 2001 there was a restructuring, and as a result, the Fund's general partner was reorganized as follows. The General Partner of the Fund continues to be Boston Capital Associates IV L.P., a Delaware limited partnership. The general partner of the General Partner is now BCA Associates Limited Partnership, a Massachusetts limited partnership, whose sole general partner is C&M Management, Inc., a Massachusetts corporation and whose limited partners are Herbert F. Collins and John P. Manning. Mr. Manning is the principal of Boston Capital Partne rs, Inc. The limited partner of the General Partner is Capital Investment Holdings, a general partnership whose partners are certain officers and employees of Boston Capital Partners, Inc., and its affiliates. The Assignor Limited Partner is BCTC IV Assignor Corp., a Delaware corporation which is now wholly-owned by John P. Manning.

Pursuant to the Securities Act of 1933, the Fund filed a Form S-11 Registration Statement with the Securities and Exchange Commission, effective December 16, 1993 which covered the offering (the "Public Offering") of the Fund's beneficial assignee certificates ("BACs") representing assignments of units of the beneficial interest of the limited partnership interest of the Assignor Limited Partner. The Fund registered 30,000,000 BACs at $10 per BAC for sale to the public in one or more series. One April 18, 1996 an amendment to Form S-11 which registered an additional 10,000,000 BACs for sale to the public in one or more series became effective. On April 2, 1998 an amendment to Form S-11, which registered an additional 25,000,000 BACs for sale to the public in one or more series became effective. On August 31, 1999 an amendment to Form S-11, which registered an additional 8,000,000 BACs for sale to the public in one or more series became effective. On July 26, 2000 an amendment to Form S-11, which regi stered an additional 7,500,000 BACs for sale to the public in one or more series became effective. On July 24, 2001 an amendment to Form S-11, which registered an additional 7,000,000 BACs for sale to the public in one or more series became effective.

Below is a summary of the BACs sold and total equity raised by series as of the date of this filing:

Series	Closing Date	BACs Sold	Equity Raised
Series 20	June 24, 1994	3,866,700	$38,667,000
Series 21	September 30, 1994	1,892,700	$18,927,000
Series 22	December 28, 1994	2,564,400	$25,644,000
Series 23	June 23, 1995	3,336,727	$33,366,000
Series 24	September 22, 1995	2,169,878	$21,697,000
Series 25	December 29, 1995	3,026,109	$30,248,000
Series 26	June 25, 1996	3,995,900	$39,959,000
Series 27	September 17, 1996	2,460,700	$24,607,000
Series 28	January 29, 1997	4,000,738	$39,999,000

Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2001
(Unaudited)

NOTE A - ORGANIZATION (continued)

Series	Closing Date	BACs Sold	Equity Raised
Series 29	June 10, 1997	3,991,800	$39,918,000
Series 30	September 10, 1997	2,651,000	$26,490,750
Series 31	January 18, 1998	4,417,857	$44,057,750
Series 32	June 23, 1998	4,754,198	$47,431,000
Series 33	September 21, 1998	2,636,533	$26,362,000
Series 34	February 11, 1999	3,529,319	$35,273,000
Series 35	June 28, 1999	3,300,463	$33,004,630
Series 36	September 28, 1999	2,106,837	$21,068,375
Series 37	January 28, 2000	2,512,500	$25,125,000
Series 38	July 31, 2000	2,543,100	$25,431,000
Series 39	January 31, 2001	2,292,152	$22,921,000
Series 40	July 31, 2001	2,630,257	$26,629,250
Series 41	N/A	802,800	$ 4,028,000

The Fund is continuing to offer BACs in Series 41.

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements herein as of September 30, 2001 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 principals 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.

Investment Securities

The Fund has determined that all of its investment securities are to be categorized as securities available for sale. Securities classified as available for sale are those debt securities that the Fund purchased that may be liquidated prior to the maturity date should the need arise. These securities are carried at approximate fair market value. All of the investments held by the Fund are tax-exempt municipal bonds and Certificates of Deposit.

Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2001
(Unaudited)

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES (continued)

The amortized cost of securities available for sale as of September 30, 2001 by contractual maturity are as follows:

	Amortized Cost
Due in one year or less	$ 8,075,334
Due after one year	3,908,798
Total	$11,984,132

The fair market value of the securities is $12,068,076. The difference being an unrealized gain on securities available for sale of $83,944, as of September 30, 2001.

Amortization

The Fund began amortizing unallocated and deferred acquisition costs over 330 months as of June 1999. Each Series begins amortizing costs once they have completed investing in operating partnerships. Accumulated amortization of acquisition costs by Series as of September 30, 2001 and 2000 is as follows:

	2001	2000
Series 20	$    8,931	$  5,358
Series 21	4,885	2,931
Series 22	15,350	9,210
Series 23	18,500	9,369
Series 24	25,511	15,307
Series 25	25,620	15,372
Series 26	43,982	26,043
Series 27	37,367	22,420
Series 28	8,251	4,951
Series 29	8,133	4,830
Series 30	52,966	31,740
Series 32	74,811	44,713
Series 33	67,284	40,051
Series 34	106,603	63,279
Series 35	303,446	180,626
Series 36	203,921	120,129
Series 37	131,715	42,596
	$1,137,276	$638,925

Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2001
(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 Services, Inc., and Boston Capital Asset Management L.P. as follows:

For the quarter ended September 30, 2001, Boston Capital Services, Inc. received $201,522 and $75,510, respectively, for Series 40 and Series 41 as Dealer-Manager fees for marketing advice and investment banking services performed at the time of the Fund's offering of BACs. Series 20, Series 21, Series 22, Series 23, Series 24, Series 25, Series 26, Series 27, Series 28, Series 29, Series 30, Series 31, Series 32, Series 33, Series 34, Series 35, Series 36 and Series 37, Series 38 and Series 39 completed payment of all Dealer-Manager fees prior to the quarter ended September 30, 2001.

Boston Capital Holdings L.P. is entitled to asset acquisition fees for selecting, evaluating, structuring, negotiating, and closing the Fund's acquisition of interest in the Operating Partnerships. During the quarter ended September 30, 2001, Series 40 and Series 41 paid $778,472 and $342,380, respectively, for acquisition fees to Boston Capital Holdings Limited Partnership. Series 20, Series 21, Series 22, Series 23, Series 24, Series 25, Series 26, Series 27, Series 28, Series 29, Series 30, Series 31, Series 32, Series 33, Series 34, Series 35, Series 36, Series 37, Series 38 and Series 39 completed payment of all acquisition fees prior to the quarter ended September 30, 2001.

An annual fund management fee based on .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships has been accrued or paid to Boston Capital Asset Management L.P.

The fund management fees accrued for the quarters ended September 30, 2001 and 2000 are as follows:

	2001	2000
Series 20	94,812	$94,811
Series 21	56,460	56,460
Series 22	63,648	63,648
Series 23	60,066	60,066
Series 24	58,338	58,338
Series 25	68,170	68,170
Series 26	109,395	109,395
Series 27	78,801	78,801
Series 29	84,495	-
Series 32	83,187	82,875
Series 33	43,443	42,333
Series 34	73,290	-
Series 35	15,794	54,660
Series 36	40,188	13,852
Series 38	8,745	13,124
Series 39	834	-
Series 40	27,203	-
	$966,869	$796,533

Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2001
(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS (continued)

The fund management fees paid for the quarters ended September 30, 2001 and 2000 are as follows:

	2001	2000
Series 28	$  83,529	$  83,502
Series 29	28,165	84,495
Series 30	55,179	55,179
Series 31	99,360	98,676
Series 32	-	-
Series 33	-	-
Series 34	-	73,155
Series 35	41,256	41,253
Series 36	-	26,337
Series 37	31,407	31,407
Series 38	31,788	10,596
Series 39	28,650	-
Series 40	10,946	-
	$ 410,280	$ 504,600

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At September 30, 2001 and 2000 the Fund has limited partnership interests in 397 and 368 Operating Partnerships, respectively, which own or are constructing apartment complexes.

The breakdown of Operating Partnerships within the Fund at September 30, 2001 and 2000 is as follows:

	2001	2000
Series 20	24	24
Series 21	14	14
Series 22	29	29
Series 23	22	22
Series 24	24	24
Series 25	22	22
Series 26	45	45
Series 27	16	16
Series 28	26	26
Series 29	22	22
Series 30	20	20
Series 31	27	27
Series 32	16	16
Series 33	10	10
Series 34	14	14

Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

	2001	2000
Series 35	11	10
Series 36	11	11
Series 37	7	5
Series 38	10	8
Series 39	9	3
Series 40	12	-
Series 41	6	-
	397	368

Under the terms of the Fund's investment in each Operating Partnership, the Fund is required to make capital contributions to the Operating Partnerships. These contributions are payable in installments over several years upon each Operating Partnership achieving specified levels of construction and/or operations. The contributions payable at September 30, 2001 and 2000 are as follows:

	2001	2000
Series 20	$   388,026	$   388,026
Series 21	689,358	683,688
Series 22	487,655	538,770
Series 23	458,632	458,631
Series 24	1,214,204	1,214,204
Series 25	2,073,892	2,384,755
Series 26	2,197,433	2,527,938
Series 27	203,270	514,918
Series 28	148,783	2,463,113
Series 29	304,770	1,410,987
Series 30	881,506	2,249,961
Series 31	1,030,019	1,633,203
Series 32	1,050,342	3,495,858
Series 33	751,366	2,932,896
Series 34	1,016,412	3,293,777
Series 35	1,784,146	2,595,358
Series 36	1,329,341	2,600,709
Series 37	2,320,748	5,941,684
Series 38	2,552,174	7,368,505
Series 39	4,838,964	6,500,884
Series 40	5,088,636	-
Series 41	9,569,307	-
	$40,378,984	$51,197,865

Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2001
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS - (continued)

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 current financial results available for the Operating Partnerships are for the three months ended March 31, 2001.

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 20

		2001	2000
Revenues
	Rental	$  4,588,131	$  4,328,267
	Interest and other	241,094	238,506
		4,829,225	4,566,773
Expenses
	Interest	1,563,779	1,509,732
	Depreciation and amortization	1,485,021	1,477,846
	Operating expenses	2,714,247	2,519,126
		5,763,047	5,506,704
NET LOSS		$  (933,822)	$  (939,931)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (886,927)	$  (915,917)
Net loss allocated to other partners		$    (9,338)	$    (9,399)
Net loss suspended		$   (37,557)	$   (14,615)

The Partnership accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Partnership adjusts its investment cost for its share of each Operating Partnerships results of operations and for any distributions received or accrued. However, the Partnership recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 21

		2001	2000
Revenues
	Rental	$  2,512,551	$  2,490,223
	Interest and other	59,334	60,444
		2,571,885	2,550,667
Expenses
	Interest	973,662	938,616
	Depreciation and amortization	557,402	592,248
	Operating expenses	1,586,577	1,511,465
		3,117,641	3,042,329
NET LOSS		$  (545,756)	$  (491,662)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (540,298)	$  (486,745)
Net loss allocated to other Partners		$    (5,458)	$    (4,917)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 22

		2001	2000
Revenues
	Rental	$  2,474,963	$  2,384,013
	Interest and other	131,574	121,065
		2,606,537	2,505,078
Expenses
	Interest	676,003	670,911
	Depreciation and amortization	962,424	916,440
	Operating expenses	1,603,145	1,590,514
		3,241,572	3,177,865
NET LOSS		$  (635,035)	$  (672,787)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (628,685)	$  (666,060)
Net loss allocated to other Partners		$    (6,350)	$    (6,727)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 23

		2001	2000
Revenues
	Rental	$  2,880,147	$  2,722,948
	Interest and other	122,828	126,555
		3,002,975	2,849,503
Expenses
	Interest	879,931	880,494
	Depreciation and amortization	957,898	929,560
	Operating expenses	1,673,336	1,633,082
		3,511,165	3,443,136
NET LOSS		$  (508,190)	$  (593,633)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (503,108)	$  (587,697)
Net loss allocated to other Partners		$    (5,082)	$    (5,936)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 24

		2001	2000
Revenues
	Rental	$  2,443,550	$  2,597,125
	Interest and other	75,403	63,010
		2,518,953	2,660,135
Expenses
	Interest	811,025	904,759
	Depreciation and amortization	878,787	941,994
	Operating expenses	1,457,104	1,523,695
		3,146,916	3,370,448
NET LOSS		$  (627,963)	$  (710,313)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (621,683)	$  (703,210)
Net loss allocated to other Partners		$    (6,280)	$    (7,103)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 25

		2001	2000
Revenues
	Rental	$  3,689,276	$  3,631,993
	Interest and other	78,286	99,903
		3,767,562	3,731,896
Expenses
	Interest	1,181,322	1,124,804
	Depreciation and amortization	1,063,451	1,046,345
	Operating expenses	2,267,904	2,359,114
		4,512,677	4,530,263
NET LOSS		$  (745,115)	$  (798,367)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (564,806)	$  (715,369)
Net loss allocated to other Partners		$    (7,451)	$    (7,984)
Net loss suspended		$  (172,858)	$   (75,014)

The Partnership accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Partnership adjusts its investment cost for its share of each Operating Partnerships results of operations and for any distributions received or accrued. However, the Partnership recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 26

		2001	2000
Revenues
	Rental	$  4,373,330	$  4,331,411
	Interest and other	263,443	175,450
		4,636,773	4,506,861
Expenses
	Interest	1,460,427	1,050,955
	Depreciation and amortization	1,444,569	1,430,418
	Operating expenses	2,757,819	2,560,901
		5,662,815	5,042,274
NET LOSS0		$(1,026,042)	$  (535,413)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (953,910)	$  (530,058)
Net loss allocated to other Partners		$   (10,260)	$    (5,355)
Net loss suspended		$   (61,872)	$          -

The Partnership accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Partnership adjusts its investment cost for its share of each Operating Partnerships results of operations and for any distributions received or accrued. However, the Partnership recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 27

		2001	2000
Revenues
	Rental	$  3,313,264	$  4,067,240
	Interest and other	66,703	127,990
		3,379,967	4,195,230
Expenses
	Interest	1,476,698	1,574,413
	Depreciation and amortization	766,630	1,177,082
	Operating expenses	1,582,432	1,898,359
		3,825,760	4,649,854
NET LOSS		$  (445,793)	$  (454,624)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (413,204)	$  (450,079)
Net loss allocated to other Partners		$    (4,458)	$    (4,545)
Net loss suspended		$   (28,813)	$          -

The Partnership accounts for its investments using the equity method of accounting. Under the equity method of accounting, the Partnership adjusts its investment cost for its share of each Operating Partnerships results of operations and for any distributions received or accrued. However, the Partnership recognizes individual operating losses only to the extent of capital contributions. Excess losses are suspended for use in future years to offset excess income.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 28

		2001	2000
Revenues
	Rental	$  2,820,569	$  2,790,619
	Interest and other	78,999	80,868
		2,899,568	2,871,487
Expenses
	Interest	841,149	819,054
	Depreciation and amortization	1,026,787	1,100,088
	Operating expenses	1,777,578	1,629,364
		3,645,514	3,548,506
NET LOSS		$  (745,946)	$  (677,019)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (738,486)	$  (670,249)
Net loss allocated to other Partners		$    (7,460)	$    (6,770)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 29

		2001	2000
Revenues
	Rental	$  3,243,058	$  3,247,636
	Interest and other	141,204	163,583
		3,384,262	3,411,219
Expenses
	Interest	1,005,721	1,021,279
	Depreciation and amortization	1,231,414	1,115,038
	Operating expenses	1,966,719	1,894,848
		4,203,854	4,031,165
NET LOSS		$  (819,593)	$  (619,946)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (811,396)	$  (613,746)
Net loss allocated to other Partners		$    (8,197)	$       (6,200)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 30

		2001	2000
Revenues
	Rental	$  2,318,464	$  1,952,042
	Interest and other	89,191	58,224
		2,407,655	2,010,266
Expenses
	Interest	685,026	588,033
	Depreciation and amortization	779,600	592,021
	Operating expenses	1,590,112	1,193,052
		3,054,738	2,373,106
NET LOSS		$  (647,083)	$  (362,840)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (640,613)	$  (359,212)
Net loss allocated to other Partners		$    (6,470)	$    (3,628)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 31

		2001	2000
Revenues
	Rental	$  4,630,319	$  4,372,741
	Interest and other	250,481	157,988
		4,880,800	4,530,729
Expenses
	Interest	1,286,712	1,355,819
	Depreciation and amortization	1,836,047	1,449,992
	Operating expenses	2,851,448	2,526,033
		5,974,207	5,331,844
NET LOSS		$(1,093,407)	$  (801,115)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$(1,082,473)	$  (793,104)
Net loss allocated to other Partners		$   (10,934)	$    (8,011)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 32

		2001	2000
Revenues
	Rental	$  2,600,176	$  1,984,635
	Interest and other	182,189	111,430
		2,782,365	2,096,065
Expenses
	Interest	757,876	690,779
	Depreciation and amortization	923,151	642,485
	Operating expenses	1,587,223	1,148,719
		3,268,250	2,481,983
NET LOSS		$  (485,885)	$  (385,918)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (439,073)	$  (382,059)
Net loss allocated to other Partners		$    (4,859)	$    (3,859)
Net loss suspended		$   (41,953)	$          -

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 33

		2001	2000
Revenues
	Rental	$  1,496,811	$  1,013,424
	Interest and other	90,006	28,976
		1,586,817	1,042,400
Expenses
	Interest	511,982	400,084
	Depreciation and amortization	417,811	229,125
	Operating expenses	880,486	558,496
		1,810,279	1,187,705
NET LOSS		$  (223,462)	$  (145,305)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (221,227)	$  (143,852)
Net loss allocated to other Partners		$    (2,235)	$    (1,453)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 34

		2001	2000
Revenues
	Rental	$  2,731,042	$  1,921,102
	Interest and other	181,250	75,095
		2,912,292	1,996,197
Expenses
	Interest	999,496	663,197
	Depreciation and amortization	1,080,809	438,615
	Operating expenses	1,421,637	1,020,633
		3,501,942	2,122,445
NET LOSS		$  (589,650)	$  (126,248)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (583,753)	$  (124,985)
Net loss allocated to other Partners		$    (5,897)	$    (1,263)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,

Series 35

		2001	2000
Revenues
	Rental	$  1,551,721	$    315,403
	Interest and other	70,358	97,315
		1,622,079	412,718
Expenses
	Interest	736,315	192,508
	Depreciation and amortization	659,525	132,586
	Operating expenses	1,012,005	324,208
		2,407,845	649,302
NET LOSS		$  (785,766)	$  (236,584)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (777,908)	$  (234,218)
Net loss allocated to other Partners		$    (7,858)	$    (2,366)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 36

		2001	2000
Revenues
	Rental	$  1,319,699	$  1,027,722
	Interest and other	76,458	55,647
		1,396,157	1,083,369
Expenses
	Interest	533,840	402,480
	Depreciation and amortization	543,241	160,183
	Operating expenses	712,563	546,544
		1,789,644	1,109,207
NET LOSS		$  (393,487)	$   (25,838)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (389,552)	$   (25,579)
Net loss allocated to other Partners		$    (3,935)	$      (259)

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2001
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

		Series 37*         2001	Series 38*         2001
Revenues
	Rental	$  1,073,512	$    463,007
	Interest and other	46,055	2,691
		1,119,567	465,698
Expenses
	Interest	269,788	149,524
	Depreciation and amortization	445,436	171,073
	Operating expenses	716,574	264,925
		1,431,798	585,522
NET LOSS		$  (312,231)	$  (119,824)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (309,109)	$    118,626
Net loss allocated to other Partners		$    (3,122)	$      1,198

*The Operating Partnerships in Series 37 and 38 did not commence operations until after June 30, 2000 therefore, they do not have comparative information to report.

Boston Capital Tax Credit Fund IV L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

		Series 39*         2001
Revenues
	Rental	$     96,454
	Interest and other	298
		96,752
Expenses
	Interest	130,154
	Depreciation and amortization	115,200
	Operating expenses	82,207
		327,561
NET LOSS		$  (230,809)
Net loss allocated to Boston Capital Tax Credit Fund IV L.P.		$  (228,500)
Net loss allocated to other Partners		$    (2,309)

*The Operating Partnerships in Series 39 did not commence operations until after June 30, 2000 therefore, they do not have comparative information to report.

**The Operating Partnerships in Series 40 and Series 41 did not commence operations until after June 30, 2001, therefore, they do not have current or comparative information to report.

Boston Capital Tax Credit Fund IV L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2001
(Unaudited)

NOTE D - INVESTMENT IN OPERATING PARTNERSHIPS-CONTINUED

When comparing the results of operations from the Operating Partnerships for the six months ended September 30, 2001 and 2000 numerous variances, some material in nature, exist. The variances are the result of a number of factors including an increase in the number of Operating Partnerships owned, an increase in the number which have completed construction, and an increase in the number which have completed the lease-up phase.

NOTE E - TAXABLE LOSS

The Fund's taxable loss for the fiscal year ended March 31, 2002 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. No provision or benefit for income taxes has been included in these financial statements since taxable income or loss passes through to, and is reportable by, the partners and assignees individually.

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

Results of Operations

Liquidity

The Fund's primary source of funds is the proceeds of its Public Offering. Other sources of liquidity will include (i) interest earned on capital contributions held pending investment and on working capital (ii) cash distributions from operations of the Operating Partnerships in which the Fund has and will invest and (iii) a line of credit. The Fund does not anticipate significant cash distributions from operations of the Operating Partnerships.

The Fund has entered into a line of credit financing agreement with Fleet National Bank whereby the Fund can borrow up to $5 million for up to 90 days to meet short-term cash needs required for the investment in certain Operating Partnerships. Under the terms of the agreement, the Fund pledges their interest in a particular Operating Partnership in order to draw funds from the line. The repayment of any draws is anticipated to be made once the Fund has received sufficient Investor proceeds. Repayments on the line are tied to specific Operating Partnerships, which are then released as collateral by the bank. As of September 30, 2001 $2,686,342 had been drawn from the line of credit.

The Fund is currently accruing the fund management fee for Series 20, Series 21, Series 22, Series 23, Series 24, Series 25, Series 26, Series 27, Series 29, Series 32, Series 33, Series 34 and Series 36. The fund is also accruing a portion of the fund management fee for Series 35, Series 37, Series 38, Series 39 and Series 40. Pursuant to the Partnership Agreement, such liabilities will be deferred until the Fund receives sales or refinancing proceeds from the Operating Partnerships, which will be used to satisfy such 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.

Capital Resources

The Fund offered BACs in a Public Offering declared effective by the Securities and Exchange Commission on December 16, 1993. The Fund received $38,667,000, $18,927,000, $25,644,000, $33,366,000, $21,697,000, $30,248,000, $39,959,000, $24,607,000, $39,999,000, $39,918,000, $26,490,750, $44,057,750, $47,431,000, $26,362,000, $35,273,000, $33,004,630, $21,068,375, $25,125,000, $25,431,000, $22,921,000, $26,629,250 and $4,028,000 representing 3,866,700, 1,892,700, 2,564,400, 3,336,727, 2,169,878, 3,026,109, 3,995,900, 2,460,700, 4,000,738, 3,991,800, 2,651,000, 4,417,857, 4,754,198, 2,636,533, 3,529,319, 3,300,463, 2,106,837, 2,512,500, 2,543,100, 2,292,152, 2,630,257 and 402,800 BACs from investors admitted as BAC Holders in Series 20, Series 21, Series 22, Series 23, Series 24, Series 25, Series 26, Series 27, Series 28, Series 29, Series 30, Series 31, Series 32, Series 33, Series 34, Series 35, Series 36, Series 37, Series 38, Series 39, Series 40 and Series 41, respectively as of September 30, 2001 .

Series 20

The Fund commenced offering BACs in Series 20 on January 21, 1994. Offers and sales of BACs in Series 20 were completed on June 24, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $28,614,472.

During the quarter ended September 30, 2001, Series 20 did not record any releases of capital contributions. Series 20 has outstanding contributions payable in the amount of $388,026 as of September 30, 2001. Of the amount outstanding, $222,120 has been advanced to the Operating Partnerships. The advances will be converted to capital and the remaining contributions of $165,906 will be released from available net offering proceeds when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 21

The Fund commenced offering BACs in Series 21 on July 1, 1994. Offers and sales of BACs in Series 21 were completed on December 31, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 14 Operating Partnerships in the amount of $13,872,730.

During the quarter ended September 30, 2001, Series 21 did not record any releases of capital contributions. Series 21 has outstanding contributions payable in the amount of $689,358 as of September 30, 2001. Of the amount outstanding, $641,540 has been loaned to the Operating Partnerships. The loans will be converted to capital and the remaining contributions of $47,818 will be released from available net offering proceeds when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 22

The Fund commenced offering BACs in Series 22 on October 10, 1994. Offers and sales of BACs in Series 22 were completed on December 28, 1994. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 29 Operating Partnerships in the amount of $18,758,748.

During the quarter ended September 30, 2001, Series 22 did not record any releases of capital contributions. Series 22 has outstanding contributions payable in the amount of $487,655 as of September 30, 2001. Of the amount outstanding, $450,981 has been loaned to the Operating Partnerships. The loans will be converted to capital and the remaining contributions of $36,674 will be released from available net offering proceeds when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 23

The Fund commenced offering BACs in Series 23 on January 10, 1995. Offers and sales of BACs in Series 23 were completed on September 23, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $24,352,278.

During the quarter ended September 30, 2001, Series 23 did not record any releases of capital contributions. Series 23 has outstanding contributions payable of $458,632 as of September 30, 2001, all of which has previously been advanced or loaned to the Operating Partnerships. The advances and loans will be converted to capital when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 24

The Fund commenced offering BACs in Series 24 on June 9, 1995. Offers and sales of BACs in Series 24 were completed on September 22, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 24 Operating Partnerships in the amount of $15,980,237.

During the quarter ended September 30, 2001, Series 24 did not record any releases of capital contributions. Series 24 has outstanding contributions payable in the amount of $1,214,204 as of September 30, 2001. Of the amount outstanding, $1,099,467 has been advanced or loaned to the Operating Partnerships. The advances and loans will be converted to capital and the remaining contributions of $114,737 will be released from available net offering proceeds when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 25

The Fund commenced offering BACs in Series 25 on September 30, 1995. Offers and sales of BACs in Series 25 were completed on December 29, 1995. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $22,461,222.

During the quarter ended September 30, 2001, Series 25 recorded capital contribution releases of $10,000. Series 25 has outstanding contributions payable in the amount of $2,073,892 as of September 30, 2001. Of the amount outstanding, $1,671,965 has been advanced or loaned to some of the Operating Partnerships. In addition, $20,000 has been funded into and escrow account on behalf of one of the Operating Partnerships. The advances and loans will be converted to capital and the remaining contributions of $401,927, will be released from the escrow account and available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 26

The Fund commenced offering BACs in Series 26 on January 18, 1996. Offers and sales of BACs in Series 26 were completed on June 25, 1996. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 45 Operating Partnerships in the amount of $29,390,862.

During the quarter ended September 30, 2001, Series 26 did not record any releases of capital contributions. Series 26 has outstanding contributions payable in the amount of $2,197,433 as of September 30, 2001. Of the amount outstanding, $2,072,146 has been advanced or loaned to some of the Operating Partnerships. In addition, $30,031 has been funded into escrow accounts on behalf of other Operating Partnerships. The advances and loans will be converted to capital and the remaining contributions of $125,287, will be released from the escrow accounts and available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their Partnership agreements.

Series 27

The Fund commenced offering BACs in Series 27 on June 24, 1996. Offers and sales of BACs in Series 27 were completed on September 17, 1996. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 16 Operating Partnerships in the amount of $17,901,046.

During the quarter ended September 30, 2001, Series 27 did not record any capital contribution releases. Series 27 has outstanding contributions payable in the amount of $203,270 as of September 30, 2001. Of the amount outstanding, $6,500 has been advanced to the Operating Partnerships. The advances will be converted to capital and the remaining contributions of $196,770 will be released from available net offering proceeds when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 28

The Fund commenced offering BACs in Series 28 on September 30,1996. Offers and sales of BACs in Series 28 were completed on January 31, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 26 Operating Partnership in the amount of $29,261,233.

During the quarter ended September 30, 2001, Series 28 recorded capital contribution releases of $5,000. Series 28 has outstanding contributions payable in the amount of $148,783 as of September 30, 2001. The remaining contributions will be released from available net offering proceeds when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 29

The Fund commenced offering BACs in Series 29 on February 10, 1997. Offers and sales of BACs in Series 29 were completed on June 10, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 22 Operating Partnerships in the amount of $29,137,877.

During the quarter ended September 30, 2001, Series 29 recorded capital contribution releases of $15,000. Series 29 has outstanding contributions payable in the amount of $304,770 as of September 30, 2001. Of the amount outstanding, $20,935 has been loaned to the Operating Partnerships. The loans will be converted to capital and the remaining contributions of $283,835 will be released from available net offering proceeds when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 30

The Fund commenced offering BACs in Series 30 on June 23, 1997. Offers and sales of BACs in Series 30 were completed on September 10, 1997. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 20 Operating Partnerships in the amount of $19,492,770.

During the quarter ended September 30, 2001, Series 30 recorded capital contribution releases of $10,702. Series 30 has outstanding contributions payable in the amount of $881,506 as of September 30, 2001. Of the amount outstanding, $341,750 has been advanced or loaned to the Operating Partnerships. The advances and loans will be converted to capital and the remaining contributions of $539,756, will be released from available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 31

The Fund commenced offering BACs in Series 31 on September 11, 1997. Offers and sales of BACs in Series 31 were completed on January 18, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 27 Operating Partnerships in the amount of $32,569,100.

During the quarter ended September 30, 2001, Series 31 recorded capital contribution releases of $327,137. Series 31 has outstanding contributions payable in the amount of $1,030,019 as of September 30, 2001. Of the amount outstanding, $655,675 has been loaned to some of the Operating Partnerships. In addition, $25,000 has been funded into an escrow account on behalf of one of the Operating Partnerships. The advances and loans will be converted to capital and the remaining contributions of $374,344, will be released from the escrow accounts and available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 32

The Fund commenced offering BACs in Series 32 on January 19, 1998. Offers and sales of BACs in Series 32 were completed on June 23, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 16 Operating Partnerships in the amount of $35,161,453. The series has also purchased assignments in Bradley Phase I of Massachusetts LLC, Bradley Phase II of Massachusetts LLC, Byam Village of Massachusetts LLC,Hanover Towers of Massachusetts LLC, Harbor Towers of Massachusetts LLC and Maple Hill of Massachusetts LLC. Under the terms of the Assignments of Membership Interests dated December 1, 1998 the series is entitled to certain profits, losses, tax credits, cash flow, proceeds from capital transactions and capital account as defined in the individual Operating Agreements. The series utilized $1,092,847 of funds available to invest in Operating Partnerships for this investment.

During the quarter ended September 30, 2001, Series 32 recorded capital contribution releases of $127,969. Series 32 has outstanding contributions payable in the amount of $1,050,342 as of September 30, 2001. Of the amount outstanding, $407,898 has been loaned or advanced the Operating Partnerships. In addition, $125,000 has been funded into escrow accounts on behalf of other Operating Partnerships. The loans and advances will be converted to capital and the remaining contributions of $642,444, will be released from the escrow accounts and available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 33

The Fund commenced offering BACs in Series 33 on June 22, 1998. Offers and sales of BACs in Series 33 were completed on September 21, 1998. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $19,614,594.

During the quarter ended September 30, 2001, Series 33 did not record any capital contribution releases. Series 33 has outstanding contributions payable in the amount of $751,366 as of September 30, 2001. Of the amount outstanding, $113,575 has been loaned to the Operating Partnerships. In addition, $125,000 has been funded into an escrow account on behalf of other Operating Partnerships. The loans will be converted to capital and the remaining contributions of $637,791, will be released from the escrow account and available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 34

The Fund commenced offering BACs in Series 34 on September 22, 1998. Offers and sales of BACs in Series 34 were completed on February 11, 1999. The fund has committed proceeds to pay initial and additional installments of capital contributions to 14 Operating Partnerships in the amount of $25,754,977.

During the quarter ended September 30, 2001, Series 34 recorded capital contribution releases of $8,491. Series 34 has outstanding contributions payable the Operating Partnerships in the amount of $1,016,412 as of September 30, 2001. Of the amount outstanding, $658,250 has been loaned or advanced to some of the Operating Partnerships. The loans and advances will be converted to capital and the remaining contributions of $358,162, will be released from available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 35

The Fund commenced offering BACs in Series 35 on February 22, 1999. Offers and sales of BACs in Series 35 were completed on June 25, 1999. The fund has committed proceeds to pay initial and additional installments of capital contributions to 11 Operating Partnerships in the amount of $24,147,034.

During the quarter ended September 30, 2001, Series 35 recorded capital contribution releases of $319,152. Series 35 has outstanding contributions payable in the amount of $1,784,146 as of September 30, 2001. Of the amount outstanding, $817,708 has been loaned to some of the Operating Partnerships. In addition, $10,855 has been funded into escrow accounts on behalf of other Operating Partnerships. The loans and advances will be converted to capital and the remaining contributions of $966,438, will be released from the escrow accounts and available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 36

The Fund commenced offering BACs in Series 36 on June 22, 1999. Offers and sales of BACs in Series 36 were completed on September 28, 1999. The fund has committed proceeds to pay initial and additional installments of capital contributions to 11 Operating Partnerships in the amount of $15,273,148.

During the quarter ended September 30, 2001, Series 36 recorded capital contribution releases of $2,225. Series 36 has outstanding contributions payable in the amount of $1,329,341 as of September 30, 2001. Of the amount outstanding, $1,120,966 has been loaned or advanced to some of the Operating Partnerships. The loans and advances will be converted to capital and the remaining contributions of $208,375, will be released from available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 37

The Fund commenced offering BACs in Series 37 on October 29, 1999. Offers and sales of BACs in Series 37 were completed on January 28, 1999. The fund has committed proceeds to pay initial and additional installments of capital contributions to 7 Operating Partnerships in the amount of $18,719,332.

During the quarter ended September 30, 2001, Series 37 recorded capital contribution releases of $1,543,975. Series 37 has outstanding contributions payable in the amount of $2,320,748 as of September 30, 2001. Of the amount outstanding, $1,814,212 has been loaned or advanced to the Operating Partnerships. The loans and advances will be converted to capital and the remaining contributions of $506,536, will be released from available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 38

The Fund commenced offering BACs in Series 38 on February 1, 2000. Offers and sales of BACs in Series 38 were completed on July 31, 2000. The fund has committed proceeds to pay initial and additional installments of capital contributions to 10 Operating Partnerships in the amount of $18,609,448. In addition the Fund committed and used $420,296 of Series 38 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

During the quarter ended September 30, 2001, Series 38 recorded capital contribution releases of $472,084. Series 38 has outstanding contributions payable in the amount of $2,552,174 as of September 30, 2001. The remaining contributions will be released from available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 39

The fund commenced offering BACs in Series 39 on August 1, 2000. Offers and sales of BACs in Series 39 were completed on January 31, 2001. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 9 Operating Partnerships in the amount of $17,130,124 as of September 30, 2001. In addition the Fund committed and used $192,987 of Series 39 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

During the quarter ended September 30, 2001, Series 39 recorded capital contribution releases of $1,787,858. Series 39 has outstanding contributions
payable in the amount of $4,511,190 as of September 30, 2001. Of the amount outstanding, $546,598 has been advanced or loaned to the Operating Partnerships and $263,473 has been funded into an escrow account on behalf of other Operating Partnerships. The advances will be converted to capital and the remaining contributions of $3,964,592 will be released from the escrow accounts and available net offering proceeds when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 40

The Fund commenced offering BACs in Series 40 on February 1, 2001. Offers and sales of BACs in Series 40 were completed on July 31, 2001. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 12 Operating Partnerships in the amount of $15,869,884 as of September 30, 2001. In addition, the Fund committed and used $578,755 of Series 40 net offering proceeds to acquire a limited partnership equity interest in a limited liability company, which is the general partner of other operating limited partnerships, which own or are constructing, rehabilitating or operating apartment complexes.

During the quarter ended September 30, 2001, Series 40 recorded capital contribution releases of $5,929,582. Series 40 has outstanding contributions payable in the amount of $5,088,636 as of September 30, 2001. Of the amount outstanding, $2,255,452 has been loaned or advanced to some of the Operating Partnerships and $16,803 has been funded into an escrow account on behalf of other Operating Partnerships. The loans and advances will be converted to capital and the remaining contributions of $2,833,184 will be released from the escrow accounts and available net offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Series 41

The Fund commenced offering BACs in Series 41 on February 1, 2001 and is still offering BACs as of the date of this filing. The Fund has committed proceeds to pay initial and additional installments of capital contributions to 6 Operating Partnerships in the amount of $13,161,964 as of September 30, 2001.

During the quarter ended September 30, 2001, Series 41 recorded capital contribution releases of $3,592,658. Of the total releases, $2,686,342 was funded off of a line of credit. Series 41 has outstanding contributions payable in the amount of $9,569,307 as of September 30, 2001. The remaining contributions will be released from the available net offering proceeds and future offering proceeds, when the Operating Partnerships have achieved the conditions set forth in their partnership agreements.

Line of Credit

The Fund has entered into a line of credit financing agreement with Fleet National Bank whereby the Fund can borrow up to $5 million for up to 90 days to meet short-term cash needs required for the investment in certain Operating Partnerships. Under the terms of the agreement, the Fund pledges their interest in a particular Operating Partnership in order to draw funds from the line. The repayment of any draws is anticipated to be made once the Fund has received sufficient Investor proceeds. Repayments on the line are tied to specific Operating Partnerships, which are then released as collateral by the bank. As of September 30, 2001 $2,686,342 had been drawn from the line of credit.

Results of Operations

As of September 30, 2001 and 2000 the Fund held limited partnership interests in 397 and 368 Operating Partnerships, respectively. In each instance the Apartment Complex owned by the applicable Operating Partnership is eligible for the Federal Housing Tax Credit. Occupancy of a unit in each Apartment Complex which initially complied with the Minimum Set-Aside Test (i.e., 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 hereinafter as "Qualified Occupancy." Each of the Operating Partnerships and each of the respective Apartment Complexes are described more fully in the Prospectus or applicable report on Form 8-K. The General Partner believes that there is adequate casualty insurance on the properties.

The Fund's results of operations for future periods will vary significantly from those for the period ended September 30, 2001 as Series 32, Series 35, Series 37, Series 38, Series 39 and Series 40 continue to use the funds raised to invest in partnership interests of additional Operating Partnerships, and the Fund continues to offer BACs in Series 41.

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 for the quarter ended September 30, 2001 for Series 20, Series 21, Series 22, Series 23, Series 24, Series 25, Series 26, Series 27, Series 28, Series 29, Series 30, Series 31, Series 32, Series 33, Series 34, Series 35, Series 36, Series 37, Series 38, Series 39 and Series 40 were $91,408, $55,460, $61,548, $60,066, $58,338, $66,769, $103,219, $73,451, $83,021, $84,495, $54,579, $94,359, $78,588, $33,443, $68,290, $52,651, $39,313, $43,956, $40,533, $29,484 and $38,149, respectively.

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 20

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 100%. The series had a total of 24 properties at September 30, 2001, all of which were at 100% Qualified Occupancy.

For the six months being reported Series 20 reflects a net loss from Operating Partnerships of $933,822. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $551,199. This is an interim period estimate; it is not indicative of the final year end results.

The Operating General Partner, Investment Limited Partner and the management company are working diligently to maintain a strong occupancy at Breeze Cove Limited Partnership (Breeze Cove Apartments). Average occupancy for the first nine months of 2001 remained stable at 90%. The management company is marketing the property aggressively, using methods including newspaper advertising and oversized property signage visible from the interstate highway. The Operating General Partner continues to encourage the management company to reduce operating expenses to improve operations and cash flow. This will be beneficial to the refinancing of the property in order to reduce the debt service, which is also an issue. The 2001 operating budget projects operating expenses to decline by approximately 10% as a result of decreased unit turnover. During the first nine months of 2001, operating expenses decreased 11% and cash flow increased by 10% versus the same period in 2000. The management company is being more select ive with tenant applications, which should help to stabilize operations. The Operating General Partner and Investment Limited Partner have continued to fund operating deficits as needed, and the mortgage, property taxes, insurance and accounts payable are all current.

Effective November 28, 2000, East Douglas Apartments Limited Partnership (East Douglas Apartments) retained Van Rooy Properties for property management. The Operating General Partner replaced the prior management company due to poor managerial performance and untimely reporting. Several occupancy and financial issues have been addressed since the management agent transfer. The average occupancy through October 2001 was 96%. The accounts payable balance as of 9/30/01 was approximately $41,000. The Operating Partnership expects to reduce the payables balance to approximately $9,000 from a reimbursement of the 2001 tax payments expected early in the fourth quarter of 2001. Also, the Operating General Partner is currently negotiating a transfer of interest to the current management company. The current management company will not enter into the partnership until the partnership has received approval from HUD to increase rents and the company can sustain breakeven operations. There was a Form 8823, Low Incom e Housing Credit Agencies Report of Non-compliance, filed against the property in 1999. The management agent has successfully worked with Illinois Housing Development Authority to withdraw the Form 8823.

Series 21

As of the September 30, 2001 and 2000 the average Qualified Occupancy for the series was 100% and 99.6%, respectively. The series had a total of 14 properties at September 30, 2001. All of which were at 100% Qualified Occupancy.

For the six months being reported Series 21 reflects a net loss from Operating Partnerships of $545,756. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect a net loss from operations of $11,646. This is an interim period estimate; it is not indicative of the final year end results.

Atlantic City Housing Urban Renewal Associates L.P. continued to operate below breakeven for the third quarter of 2001. The property's operations were impacted by high security and maintenance costs and an increase in insurance premiums. Additionally the Section 8 Rental Assistance Contract has increased only slightly over the past few years. The Investment General Partner is monitoring the situation closely through quarterly inspections. However, Atlantic City Housing Urban Renewal Associates LP will continue to show deficits with respect to operational issues for the foreseeable future. As a result the Operating Partnership filed for protection under Chapter 11 of the Bankruptcy Code in June of 2001. The Operating General Partner had until September 2001 to present a work out plan to the court that will reduce the debt service and allow the property to become economically viable. An extension has been granted through December 31, 2001. In addition, a capital needs assessment has been performed in an attempt to identify the scope of deferred maintenance that needs to be completed. The US Trustee has approved the payment of the capital needs assessment. The bankruptcy court has authorized a cash collateral account to ensure the payment of the property operating expenses. Occupancy for the third quarter of 2001 decreased to 88%. HUD has not approved nor will approve any further rental of the vacant units until some minor safety code violations are addressed. The Operating General Partner is diligently working toward resolving these violations.

Series 22

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 100%. The series had a total of 29 properties at September 30, 2000, all of which were at 100% Qualified Occupancy.

For the six months being reported Series 22 reflects a net loss from Operating Partnerships of $635,035. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $327,389. This is an interim period estimate; it is not indicative of the final year end results.

Series 23

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 100%. The series had a total of 22 properties at September 30, 2001, all of which were at 100% Qualified Occupancy.

For the six months being reported Series 23 reflects a net loss from Operating Partnerships of $508,190. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $449,708. This is an interim period estimate; it is not indicative of the final year end results.

Series 24

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 99.9%. The series had a total of 24 properties at September 30, 2001. Out of the total 23 were at 100% Qualified Occupancy.

For the six months being reported Series 24 reflects a net loss from Operating Partnerships of $627,963. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $250,824. This is an interim period estimate; it is not indicative of the final year end results.

Elm Street Associates Limited Partnership (Elm Street Apartments) is located in Yonkers, New York. The neighborhood has been a difficult one in which to operate and poor tenancy has resulted in operating deficits. Management issues, including poor rent collections and deferred maintenance, continue to effect the partnership. Evergreen took over management of the property in October 1999, but they were not successful in sustaining improved operations. Evergreen was replaced by Apartment and Investment Management Company (AIMCO) on January 1, 2001. The eviction process includes an effort to re-rent the newly vacant units, and at month-end September physical occupancy was 91% and there were three applications with deposits in hand. The 91% physical occupancy translates into 32 of the 35 units occupied, compared to 31 at month-end August. Economic occupancy for the month dropped from 94% in August to 87% in September. The general partner has reported for several months that $20,500 in back rent being he ld by the Yonkers Housing Authority is soon to be released to the property. The Housing Authority has been withholding rents due to the past physical condition of certain units. The units have been restored to good condition and negotiations with the Housing Authority to secure the back rents are being handled by a consultant to the general partner. The consultant has contacted the director of the Housing Authority in order to gain more information on this issue, but no information has been forthcoming as of this date. The general partner forwarded to Boston Capital and the consultant an offer from a potential non-profit replacement general partner, Greyston Foundation, and another tax credit syndicator, Enterprise, to replace the general partner and "buy out" Boston Capital's interest in the property. The economic aspects of the offer were sub-par. The general

partner, Boston Capital and the consultant are now seeking alternatives to Greyston among potential non-profit replacement general partners.

Los Lunas Apartments Limited (Hillridge Apartments) continues to suffer from low rents in the market, and excessive mortgage debt. As a result, the property has been operating below break-even. Due to negative cash flow, debt service payments fell behind and the New Mexico Mortgage Finance Authority (NMFA) issued a notice of default to the Operating General Partner. The Investment General Partner removed the Operating General Partner, as he was unable to effectively deal with the mortgage default. The mortgage lender placed the property in receivership in 2000 at which time Monarch Properties was appointed as the new managing agent without our consent. Though the Investment General Partner continued to work with Monarch Properties to stabilize operations and with the lender to restructure the debt, in December 1, 2000 the New Mexico Mortgage Finance Authority accelerated the mortgage for reason of non-payment. As a result of the mortgage acceleration the New Mexico Mortgage Finance Authority filed form 8823 with the Internal Revenue Service indicating certain instances of non-compliance with the IRS Section 42 code and regulations. All debt restructure proposals made by the Investment General Partner to date have been rejected by NMFA/HUD. The Investment General Partner will continue to negotiate with MNFA/HUD to achieve an acceptable debt restructure agreement. One of the plans currently being discussed is to purchase the first mortgage from NMFA/HUD for the appraised value of the property. However, if these proposals continue to prove unacceptable to the lenders, the property will face foreclosure. In the event of foreclosure a portion of the credits previously taken will be recaptured by the Internal Revenue Service with interest and penalties.

North Hampton Place, Limited Partnership, located in Columbia, Missouri, operated significantly below breakeven during 2000 and has continued to operate below breakeven for the first nine months of 2001. The main reason for its continuing cash expenditure is low occupancy, which currently averages 76% for 2001, and large debt service payments. The property has suffered from its location in rural Missouri, lying on the outskirts of Columbia and off of any public transportation routes. In addition, the property lies outside of the Columbia school district, further deterring possible tenants from moving to the property. Current management is marketing the property to possible tenants through newspapers, churches and civic groups. Management believes the occupancy issue will continue to be a problem until the city expands outwardly and eventually incorporates the property into its city limits. The property's debt payments currently amount to 55% of gross potential revenue because the loan was written with a 2 0 year amortization. The management company is currently working to refinance the mortgage and expects to complete it by June 2002, when the mortgage matures. The property's mortgage, taxes and insurance are all current for 2001.

Series 25

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 99.9% and 99.8%, respectively. The series had a total of 22 properties at September 30, 2001. Out of the total 21 were at 100% Qualified Occupancy.

For the six months being reported Series 25 reflects a net loss from Operating Partnerships of $745,115. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $318,336. This is an interim period estimate; it is not indicative of the final year end results.

Sutton Place Apartments, L.P. owns and operates a 360 - unit complex in Indianapolis, Indiana. The property operated with an average occupancy of 93% for the first nine months of 2001. However, the property suffers from high maintenance expenses as a result of tenant abuse and high unit turnover. The area has experienced an increase in crime, which has contributed to the unit turnover. The Operating General Partner continues to fund operating deficits and the Investment Limited Partner continues to monitor this property.

On October 5, 2001, a triple murder occurred within a unit. Management is assessing the impact from the incident and how it will affect the economic viability of the community. The partnership recently received a grant to be used for crime prevention and other on-site programs. The General Partner will be meeting with the local police and the city commissioner to determine if there is anything additional the property can do to improve security. At this time the property hires uniformed and off duty police officers as security.

Series 26

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 100%. The series had a total of 45 properties at September 30, 2001, all of which were at 100% Qualified Occupancy.

For the six months being reported Series 26 reflects a net loss from Operating Partnerships of $1,026,042. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $418,527. This is an interim period estimate; it is not indicative of the final year end results.

On October 18, 2000, A.V.A. Limited Partnership (Hanover Apartments), a property consisting of five buildings and forty units, sustained major fire damage. Due to the fire damage, one building containing eight units is currently uninhabitable. The property is insured for both repair costs and loss of rental income, and claims to repair the property and collect insurance proceeds for the lost income were submitted to the insurance company. Repair and replacement costs have been reimbursed to the property, and the lost rental income is being paid by the insurance company on a monthly basis. The repairs have been completed. The units have been leased with all residences expected to take occupancy by mid-November, 2001.

Series 27

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 100% and 99.9%, respectively. The series had a total of 16 properties at September 30, 2001, all of which were at 100% Qualified Occupancy.

For the six months being reported Series 27 reflects a net loss from Operating Partnerships of $445,793. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $320,837. This is an interim period estimate; it is not indicative of the final year end results.

Centrum-Fairfax II Limited Partnership's (Forest Glen at Sulley Station Phase II) operations remained stable in the third quarter of 2001. The average physical occupancy was 94% in the third quarter of 2001. Centrum Management LLC, an affiliate of the Operating General Partner, and the management agent, continues to use various marketing and sales initiatives which has stabilized the physical occupancy. The Operating General Partners continue to fund operating deficits as required by the Amended and Restated Certificate and Agreement of Limited Partnership. The mortgage and real estate tax payments are current.

Holly Heights Limited Partnership (Holly Heights Apartments) continues to incur operating deficits due to rental concessions. In May of 2001 rental concessions were discontinued. The property operated with an average occupancy of 96% for the nine months ended September 30, 2001, up from 2000's occupancy of 84%. Although occupancy has increased, the property continues to incur operating deficits due to high operating expenses, which management is working to reduce. Breakeven operations are anticipated by December 2001.

Series 28

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 100%. The series had a total of 26 properties at September 30, 2001, all of which were at 100% Qualified Occupancy.

For the six months being reported Series 28 reflects a net loss from Operating Partnerships of $745,946. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $280,841. This is an interim period estimate; it is not indicative of the final year end results.

Series 29

As of September 30, 2001 and 2000 the average Qualified Occupancy for the Series was 100% and 99.9%, respectively. The series had a total of 22 properties at September 30, 2001 all of which were 100% Qualified Occupancy.

For the six months being reported Series 29 reflects a net loss from Operating Partnerships of $819,593. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $411,821. This is an interim period estimate; it is not indicative of the final year end results.

Series 30

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 100%. The series had a total of 20 properties at September 30, 2001 all of which were at 100% Qualified Occupancy.

For the six months being reported Series 30 reflects a net loss from Operating Partnerships of $647,083. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $132,517. This is an interim period estimate; it is not indicative of the final year end results.

Series 31

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 100%. The series had a total of 27 properties at September 30, 2001 all of which were at 100% Qualified Occupancy.

For the six months being reported Series 31 reflects a net loss from Operating Partnerships of $1,093,407. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $742,640. This is an interim period estimate; it is not indicative of the final year end results.

Series 32

As of September 30, 2001 and 2000, the average Qualified Occupancy for the series was 100%. The series had a total of 16 properties at September 30, 2001. Out of the total 15 were at 100% Qualified Occupancy and one was still under construction.

For the six months being reported Series 32 reflects a net loss from Operating Partnerships of $485,885. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $437,266. This is an interim period estimate; it is not indicative of the final year end results.

FFLM Associates is an Operating Partnership which purchased the Investment Limited Partner interest in Carriage Pointe Investors, LP, Sayerville Housing Investors LP, and Woodhaven at SouthBrunswick LP in 1998. Carriage Pointe investors, LP suffers from negative cash flow and under-funded replacement reserves and tax liability account. The Investment General Partner will continue to address these issues with the Operating General Partners.

Martinsville I, Ltd. is a 13-unit property located in Shelbyville, Kentucky. The property operated above breakeven for the third quarter of 2001 with an average occupancy of 90%. The Operating General Partner has refused to settle outstanding costs related to construction cost overruns. In addition a lawsuit has been filed against the Operating General Partner, the construction company and the Partnership by unpaid construction vendors. Both the Operating General Partner and the Investment Limited Partner have engaged legal counsel to resolve these issues.

Series 33

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 97.5% and 99.9%, respectively. The series had a total of 10 properties at September 30, 2001. Out of the total 9 were at 100% Qualified Occupancy and one was in initial lease-up.

For the six months being reported Series 33 reflects a net loss from Operating Partnerships of $223,462. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $194,349. This is an interim period estimate; it is not indicative of the final year end results.

FFLM Associates is an Operating Partnership which purchased the Investment Limited Partner interest in Carriage Pointe Investors, LP, Sayerville Housing Investors LP, and Woodhaven at SouthBrunswick LP in 1998. Carriage Pointe investors, LP suffers from negative cash flow and under-funded replacement reserves and tax liability account. The Investment General Partner will continue to address these issues with the Operating General Partners.

Series 34

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 100% and 92.9%, respectively. The series had a total of 14 properties at September 30, 2001 all of which were at 100% Qualified Occupancy.

For the six months being reported Series 34 reflects a net loss from Operating Partnerships of $589,650. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $491,159. This is an interim period estimate; it is not indicative of the final year end results.

Series 35

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 98.5% and 73.6%, respectively. The series had a total of 11 properties at September 30, 2001. Out of the total 9 were at 100% qualified occupancy and 1 was in active lease-up. The series also had 1 property which was still under construction at September 30, 2001.

For the six months being reported Series 35 reflects a net loss from Operating Partnerships of $785,766. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect a net loss from operations of ($126,241). This is an interim period estimate; it is not indicative of the final year end results.

Series 36

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 100% and 79.3%, respectively. The series had a total of 11 properties at September 30, 2001 all of which were at 100% Qualified Occupancy.

For the six months being reported Series 36 reflects a net loss from Operating Partnerships of $393,487. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $149,754. This is an interim period estimate; it is not indicative of the final year end results.

Series 37

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 94.7% and 40.7%, respectively. The series had a total of 7 properties at September 30, 2001. Out of the total 4 were at 100% Qualified Occupancy and 1 was in active lease-up. The series also had 1 property that was under construction and 1 property with multiple buildings, some of which were in lease-up and some of which were under construction at September 30, 2001

For the six months being reported Series 37 reflects a net loss from Operating Partnerships of $312,231. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $133,205. This is an interim period estimate; it is not indicative of the final year end results.

Series 38

As of September 30, 2001 and 2000 the average Qualified Occupancy for the series was 85.0% and 66.7%, respectively. The series had a total of 10 properties at September 30, 2001. Out of the total 5 were at 100% Qualified Occupancy and 1 was in active lease-up. The series also had 3 properties that were under construction and 1 property with multiple buildings, some of which were in lease-up and some of which were under construction at September 30, 2001.

For the six months being reported Series 38 reflects a net loss from Operating Partnerships of $119,824. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect positive operations of $51,249. This is an interim period estimate; it is not indicative of the final year end results.

Series 39

As of September 30, 2001 the average Qualified Occupancy for the series was 81.4%. The series had a total of 9 properties at September 30, 2001. Out of the total 5 were at 100% Qualified Occupancy and 1 was in active lease-up. The Series also had one property that was under construction and 1 property with multiple buildings, some of which were in lease-up and some of which were under construction at September 30, 2001. Since all of the properties were

acquired as of September 30, 2000, were under construction there is no comparative information to report.

For the six months being reported Series 39 reflects a net loss from Operating Partnerships of $230,809. When adjusted for depreciation which is a non-cash item, the Operating Partnerships reflect a net loss from operations of $(115,609). This is an interim period estimate; it is not indicative of the final year end results.

Series 40

As of September 30, 2001 the average Qualified Occupancy for the series was 54.2%. The series had a total of 12 properties at September 30, 2001. Out of the total 1 was in active lease-up and 7 were under construction. Since all of the properties were acquired after September 30, 2000, there is no comparative information to report.

Series 41

Series 41 had a total of 6 properties at September 30, 2001, all of which were still under construction. Since all of the properties were acquired after September 30, 2000, there is no comparative information to report.

PART II - OTHER INFORMATION

Item 1.	Legal Proceedings
	None
Item 2.	Changes in Securities
	None
Item 3.	Defaults upon Senior Securities
	None
Item 4.	Submission of Matters to a Vote of Security Holders
	None
Item 5.	Other Information
	None
Item 6.	Exhibits and Reports on Form 8-K
	(a)Exhibits
		None
	(b)Reports on Form 8-K
		None

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 IV L.P.
	By:	Boston Capital Associates IV L.P. General Partner
	By:	BCA Associates Limited Partnership General Partner
	By:	C&M Management, Inc. General Partner
Date: November 20, 2001		By:	/s/ John P. Manning John P. Manning