Note 2 - Organization and Summary of Significant Accounting Policies: Net Income (loss) Per Limited Partnership Interest (Policies)	12 Months Ended
Dec. 31, 2012
Policies
Net Income (loss) Per Limited Partnership Interest	Net Income (Loss) Per Limited Partnership Interest Net income (loss) per limited partnership interest was computed by dividing the limited partners’ share of net income (loss) by the number of limited partnership interests outstanding at the beginning of the year. The number of limited partnership interests used was 15,249.50 and 15,297.50 for the years ended December 31, 2012 and 2011, respectively.

Note 2 - Organization and Summary of Significant Accounting Policies: Net Income (loss) Per Limited Partnership Interest (Policies)

12 Months Ended

Dec. 31, 2012

Policies

Net Income (loss) Per Limited Partnership Interest

Net Income (Loss) Per Limited Partnership Interest

Net income (loss) per limited partnership interest was computed by dividing the limited partners’ share of net income (loss) by the number of limited partnership interests outstanding at the beginning of the year. The number of limited partnership interests used was 15,249.50 and 15,297.50 for the years ended December 31, 2012 and 2011, respectively.

REAL ESTATE ASSOCIATES LTD VII 10-K