RELATED PARTY TRANSACTIONS

9 Months Ended

Dec. 31, 2011

NOTE C - RELATED PARTY TRANSACTIONS

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

An annual fund management fee of .5 percent of the aggregate cost of all apartment complexes owned by the Operating Partnerships has been accrued to Boston Capital Asset Management Limited Partnership. Since reporting fees collected by the various series were added to reserves and not paid to Boston Capital Asset Management Limited Partnership, the amounts accrued are not net of reporting fees received. The fund management fees accrued for the quarters ended December 31, 2011 and 2010, are as follows:

	2011		2010

Series 20	$	38,797	$	52,749

Series 21		24,309		30,282

Series 22		41,488		49,761

Series 23		35,295		42,519

Series 24		38,057		44,475

Series 25		27,652		53,851

Series 26		85,104		102,861

Series 27		58,428		78,801

Series 28		83,529		83,529

Series 29		82,851		82,851

Series 30		43,536		46,542

Series 31		91,038		91,038

Series 32		70,857		72,222

Series 33		30,852		34,005

Series 34		73,299		73,299

Series 35		57,090		57,090

Series 36		40,150		40,149

Series 37		51,216		51,216

Series 38		41,100		41,100

Series 39		34,200		34,200

Series 40		50,004		50,004

Series 41		59,517		59,517

Series 42		62,445		62,445

Series 43		76,695		76,695

Series 44		71,176		71,176

Series 45		91,641		91,641

Series 46		62,382		62,382

	$	1,522,708	$	1,636,400

The fund management fees paid for the nine months ended December 31, 2011 and 2010 are as follows:

	2011		2010

Series 20	$	-	$	965,000

Series 21		50,000		50,000

Series 22		100,000		-

Series 23		100,000		-

Series 24		100,000		100,000

Series 25		-		100,000

Series 26		-		50,000

Series 27		-		50,000

Series 28		-		50,000

Series 30		100,000		-

Series 41		-		300,000

Series 45		-		100,000

	$	450,000	$	1,765,000

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

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+ Details