CALVERT TAX FREE RESERVES
NSAR-A, 1996-08-29
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<PAGE>      PAGE  1
000 A000000 06/30/96
000 C000000 0000319676
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 CALVERT TAX-FREE RESERVES
001 B000000 811-3101
001 C000000 3019514881
002 A000000 4550 MONTGOMERY AVENUE SUITE 1000N
002 B000000 BETHESDA
002 C000000 MD
002 D010000 20814
002 D020000 9814
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 MONEY MARKET PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 LIMITED TERM PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 LONG TERM PORTFOLIO
007 C030300 N
007 C010400  4
007 C020400 CALIFORNIA MONEY MARKET PORTFOLIO
007 C030400 N
007 C010500  5
007 C020500 VERMONT MUNICIPAL PORTFOLIO
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   30
019 C00AA00 CALVERTGRP
022 A000001 MERRILL LYNCH PIERCE
022 C000001    686817
022 D000001    389347
022 A000002 BANKERS TRUST CO.
<PAGE>      PAGE  2
022 C000002    337220
022 D000002    396555
022 A000003 BANK OF AMERICA BISD
022 C000003    169828
022 D000003    107774
022 A000004 BEAR STEARNS SECURITIES
022 C000004    193995
022 D000004     55000
022 A000005 PAINE WEBBER INCORPO
022 C000005     98320
022 D000005    116115
022 A000006 LEHMAN BROS INC.
022 C000006    103123
022 D000006     81836
022 A000007 CITICORP SECURITIES
022 C000007     77404
022 D000007     87687
022 A000008 PRUDENTIAL SECURITIES
022 C000008     51260
022 D000008     67950
022 A000009 MORGAN J.P. SECURITIES
022 C000009     60890
022 D000009     56490
022 A000010 STATE STREET BANK & TRUST
022 C000010     77075
022 D000010     34441
023 C000000    2870663
023 D000000    2329075
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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SIGNATURE   WILLIAM M. TARTIKOFF                         
TITLE       SECRETARY           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX FREE RESERVES
<SERIES>
   <NUMBER> 001
   <NAME> MONEY MARKET PORTFOLIO, CLASS O
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                          1732485
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<OTHER-ITEMS-ASSETS>                                 0
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<ACCUMULATED-NET-GAINS>                          (121)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                   1722892
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                35913
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    5979
<NET-INVESTMENT-INCOME>                          29934
<REALIZED-GAINS-CURRENT>                          (23)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                            29911
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (29832)
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<NUMBER-OF-SHARES-SOLD>                        3011988
<NUMBER-OF-SHARES-REDEEMED>                  (3057889)
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<NET-CHANGE-IN-ASSETS>                         (17945)
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<GROSS-EXPENSE>                                   6036
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<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                  0.017
<PER-SHARE-GAIN-APPREC>                            0.0
<PER-SHARE-DIVIDEND>                           (0.017)
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                1.0
<EXPENSE-RATIO>                                   0.67
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX FREE RESERVES
<SERIES>
   <NUMBER> 002
   <NAME> MONEY MARKET PORTFOLIO, CLASS MMP
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<INVESTMENTS-AT-COST>                          1732485
<INVESTMENTS-AT-VALUE>                         1732485
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX FREE RESERVES
<SERIES>
   <NUMBER> 003
   <NAME> LIMITED TERM PORTFOLIO, CLASS A
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<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX FREE RESERVES
<SERIES>
   <NUMBER> 004
   <NAME> LIMITED TERM PORTFOLIO, CLASS C
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX FREE RESERVES
<SERIES>
   <NUMBER> 005
   <NAME> LONG TERM PORTFOLIO, CLASS A
<MULTIPLIER> 1000
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX FREE RESERVES
<SERIES>
   <NUMBER> 006
   <NAME> LONG TERM PORTFOLIO, CLASS C
<MULTIPLIER> 1000
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX FREE RESERVES
<SERIES>
   <NUMBER> 007
   <NAME> CALIFORNIA MONEY MARKET FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX FREE RESERVES
<SERIES>
   <NUMBER> 008
   <NAME> VERMONT MUNICIPAL, CLASS A
<MULTIPLIER> 1000
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX FREE RESERVES
<SERIES>
   <NUMBER> 009
   <NAME> VERMONT MUNICIPAL, CLASS C
<MULTIPLIER> 1000
       
<S>                             <C>
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</TABLE>


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