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<PAGE> PAGE 3
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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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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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074 U020500 2719
074 V010500 7.13
074 V020500 7.13
074 W000500 0.0000
074 X000500 1873
074 Y000500 1662
075 A000500 0
075 B000500 55135
076 000500 0.00
015 A000601 UMB, N.A.
015 B000601 C
015 C010601 KANSAS CITY
015 C020601 MO
015 C030601 64106
015 E010601 X
028 A010600 1183
028 A020600 240
028 A030600 0
028 A040600 2926
028 B010600 933
028 B020600 231
028 B030600 0
028 B040600 1887
028 C010600 600
028 C020600 235
028 C030600 0
028 C040600 1286
028 D010600 1418
028 D020600 235
028 D030600 0
028 D040600 1019
028 E010600 470
028 E020600 471
028 E030600 0
028 E040600 1541
028 F010600 1079
028 F020600 0
028 F030600 0
028 F040600 1280
028 G010600 5682
028 G020600 1412
028 G030600 0
028 G040600 9939
028 H000600 1998
<PAGE> PAGE 22
029 000600 Y
030 A000600 152
030 B000600 4.75
030 C000600 0.00
031 A000600 17
031 B000600 0
032 000600 135
033 000600 0
034 000600 Y
035 000600 161
036 A000600 N
036 B000600 0
037 000600 N
038 000600 0
039 000600 N
040 000600 Y
041 000600 Y
042 A000600 0
042 B000600 0
042 C000600 100
042 D000600 0
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 0
043 000600 561
044 000600 0
055 A000600 N
055 B000600 N
056 000600 Y
057 000600 N
058 A000600 N
059 000600 Y
060 A000600 N
060 B000600 N
061 000600 1000
062 A000600 Y
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 1.1
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 98.0
<PAGE> PAGE 23
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.9
063 A000600 0
063 B000600 8.3
064 A000600 N
064 B000600 N
070 A010600 Y
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 Y
070 E020600 Y
070 F010600 N
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 Y
070 K010600 Y
070 K020600 N
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 Y
070 R020600 N
071 A000600 80276
071 B000600 83209
071 C000600 102861
071 D000600 78
072 A000600 12
072 B000600 6545
072 C000600 0
072 D000600 0
<PAGE> PAGE 24
072 E000600 0
072 F000600 539
072 G000600 0
072 H000600 0
072 I000600 167
072 J000600 4
072 K000600 0
072 L000600 8
072 M000600 16
072 N000600 9
072 O000600 0
072 P000600 0
072 Q000600 46
072 R000600 23
072 S000600 6
072 T000600 561
072 U000600 0
072 V000600 0
072 W000600 10
072 X000600 1389
072 Y000600 302
072 Z000600 5458
072AA000600 2436
072BB000600 1620
072CC010600 0
072CC020600 3965
072DD010600 2934
072DD020600 2613
072EE000600 0
073 A010600 0.3960
073 A020600 0.3430
073 B000600 0.0000
073 C000600 0.0000
074 A000600 0
074 B000600 0
074 C000600 1200
074 D000600 101389
074 E000600 0
074 F000600 0
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 1488
074 M000600 78
074 N000600 104155
074 O000600 0
074 P000600 2
074 Q000600 0
074 R010600 0
<PAGE> PAGE 25
074 R020600 0
074 R030600 0
074 R040600 644
074 S000600 0
074 T000600 103509
074 U010600 7196
074 U020600 7510
074 V010600 7.04
074 V020600 7.04
074 W000600 0.0000
074 X000600 2380
074 Y000600 4285
075 A000600 0
075 B000600 105266
076 000600 0.00
015 A000701 UMB, N.A.
015 B000701 C
015 C010701 KANSAS CITY
015 C020701 MO
015 C030701 64106
015 E010701 X
028 A010700 157
028 A020700 278
028 A030700 0
028 A040700 1806
028 B010700 311
028 B020700 275
028 B030700 0
028 B040700 1889
028 C010700 202
028 C020700 253
028 C030700 0
028 C040700 1886
028 D010700 207
028 D020700 265
028 D030700 0
028 D040700 1657
028 E010700 236
028 E020700 526
028 E030700 0
028 E040700 1669
028 F010700 592
028 F020700 0
028 F030700 0
028 F040700 1163
028 G010700 1705
028 G020700 1597
028 G030700 0
028 G040700 10070
028 H000700 436
029 000700 Y
<PAGE> PAGE 26
030 A000700 57
030 B000700 4.75
030 C000700 0.00
031 A000700 6
031 B000700 0
032 000700 51
033 000700 0
034 000700 Y
035 000700 202
036 A000700 N
036 B000700 0
037 000700 N
038 000700 0
039 000700 N
040 000700 Y
041 000700 Y
042 A000700 0
042 B000700 0
042 C000700 100
042 D000700 0
042 E000700 0
042 F000700 0
042 G000700 0
042 H000700 0
043 000700 550
044 000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.000
048 A010700 1000000
048 A020700 0.550
048 B010700 1000000
048 B020700 0.500
048 C010700 0
048 C020700 0.450
048 D010700 0
048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
<PAGE> PAGE 27
048 K020700 0.000
055 A000700 N
055 B000700 N
056 000700 Y
057 000700 N
058 A000700 N
059 000700 Y
060 A000700 N
060 B000700 N
061 000700 1000
062 A000700 Y
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 1.5
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
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062 O000700 98.7
062 P000700 0.0
062 Q000700 0.0
062 R000700 -0.2
063 A000700 0
063 B000700 11.3
064 A000700 N
064 B000700 N
070 A010700 Y
070 A020700 N
070 B010700 N
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 Y
070 E020700 Y
070 F010700 N
070 F020700 N
070 G010700 Y
070 G020700 Y
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
<PAGE> PAGE 28
070 J020700 N
070 K010700 Y
070 K020700 N
070 L010700 N
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 Y
070 Q010700 N
070 Q020700 N
070 R010700 Y
070 R020700 N
071 A000700 36580
071 B000700 50628
071 C000700 118767
071 D000700 31
072 A000700 12
072 B000700 7164
072 C000700 0
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072 F000700 612
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072 J000700 7
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072 M000700 17
072 N000700 13
072 O000700 0
072 P000700 0
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072 S000700 9
072 T000700 550
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072 X000700 1498
072 Y000700 48
072 Z000700 5714
072AA000700 3052
072BB000700 1804
072CC010700 0
072CC020700 4343
<PAGE> PAGE 29
072DD010700 3413
072DD020700 2200
072EE000700 0
073 A010700 0.3630
073 A020700 0.3090
073 B000700 0.0000
073 C000700 0.0000
074 A000700 0
074 B000700 0
074 C000700 1700
074 D000700 113155
074 E000700 0
074 F000700 0
074 G000700 0
074 H000700 43
074 I000700 0
074 J000700 0
074 K000700 0
074 L000700 1369
074 M000700 71
074 N000700 116338
074 O000700 986
074 P000700 29
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 659
074 S000700 0
074 T000700 114664
074 U010700 8880
074 U020700 6739
074 V010700 7.34
074 V020700 7.34
074 W000700 0.0000
074 X000700 4057
074 Y000700 6839
075 A000700 0
075 B000700 119972
076 000700 0.00
015 A000801 UMB, N.A.
015 B000801 S
015 C010801 KANSAS CITY
015 C020801 MO
015 C030801 64106
015 E010801 X
028 A010800 1895
028 A020800 810
028 A030800 0
028 A040800 4250
028 B010800 1667
<PAGE> PAGE 30
028 B020800 704
028 B030800 0
028 B040800 4328
028 C010800 1555
028 C020800 695
028 C030800 0
028 C040800 4697
028 D010800 1142
028 D020800 694
028 D030800 0
028 D040800 7102
028 E010800 2458
028 E020800 1371
028 E030800 0
028 E040800 5136
028 F010800 3134
028 F020800 36
028 F030800 0
028 F040800 5325
028 G010800 11851
028 G020800 4310
028 G030800 0
028 G040800 30838
028 H000800 3631
029 000800 Y
030 A000800 245
030 B000800 4.75
030 C000800 0.00
031 A000800 32
031 B000800 0
032 000800 213
033 000800 0
034 000800 Y
035 000800 317
036 A000800 N
036 B000800 0
037 000800 N
038 000800 0
039 000800 N
040 000800 Y
041 000800 Y
042 A000800 0
042 B000800 0
042 C000800 100
042 D000800 0
042 E000800 0
042 F000800 0
042 G000800 0
042 H000800 0
043 000800 1284
044 000800 0
<PAGE> PAGE 31
055 A000800 N
055 B000800 N
056 000800 Y
057 000800 N
058 A000800 N
059 000800 Y
060 A000800 Y
060 B000800 Y
061 000800 1000
062 A000800 Y
062 B000800 0.0
062 C000800 0.0
062 D000800 0.0
062 E000800 1.3
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 0.0
062 M000800 0.0
062 N000800 0.0
062 O000800 97.3
062 P000800 0.0
062 Q000800 0.0
062 R000800 1.4
063 A000800 0
063 B000800 9.5
064 A000800 N
064 B000800 N
070 A010800 Y
070 A020800 N
070 B010800 N
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 Y
070 E020800 Y
070 F010800 N
070 F020800 N
070 G010800 Y
070 G020800 Y
070 H010800 N
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
<PAGE> PAGE 32
070 K010800 Y
070 K020800 N
070 L010800 N
070 L020800 N
070 M010800 N
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 Y
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 Y
070 R020800 N
071 A000800 92657
071 B000800 131839
071 C000800 371545
071 D000800 25
072 A000800 12
072 B000800 23099
072 C000800 0
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072 F000800 1939
072 G000800 0
072 H000800 0
072 I000800 591
072 J000800 11
072 K000800 0
072 L000800 4
072 M000800 31
072 N000800 8
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072 R000800 33
072 S000800 19
072 T000800 1284
072 U000800 0
072 V000800 0
072 W000800 27
072 X000800 4089
072 Y000800 0
072 Z000800 19010
072AA000800 10717
072BB000800 3916
072CC010800 0
072CC020800 16275
072DD010800 14448
<PAGE> PAGE 33
072DD020800 4590
072EE000800 0
073 A010800 0.3830
073 A020800 0.3280
073 B000800 0.0000
073 C000800 0.0000
074 A000800 0
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074 C000800 4700
074 D000800 354847
074 E000800 0
074 F000800 0
074 G000800 0
074 H000800 127
074 I000800 0
074 J000800 5512
074 K000800 0
074 L000800 6847
074 M000800 43
074 N000800 372076
074 O000800 5026
074 P000800 4
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 2120
074 S000800 0
074 T000800 364926
074 U010800 35835
074 U020800 13690
074 V010800 7.37
074 V020800 7.37
074 W000800 0.0000
074 X000800 6759
074 Y000800 26
075 A000800 0
075 B000800 378248
076 000800 0.00
015 A000901 UMB, N.A.
015 B000901 C
015 C010901 KANSAS CITY
015 C020901 MO
015 C030901 64106
015 E010901 X
028 A010900 898
028 A020900 92
028 A030900 0
028 A040900 713
028 B010900 279
028 B020900 97
<PAGE> PAGE 34
028 B030900 0
028 B040900 1256
028 C010900 1167
028 C020900 98
028 C030900 0
028 C040900 1689
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028 D020900 96
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028 D040900 1232
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028 E020900 197
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028 F040900 1096
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028 G020900 580
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028 H000900 2659
029 000900 Y
030 A000900 95
030 B000900 4.75
030 C000900 0.00
031 A000900 11
031 B000900 0
032 000900 84
033 000900 0
034 000900 Y
035 000900 160
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037 000900 N
038 000900 0
039 000900 N
040 000900 Y
041 000900 Y
042 A000900 0
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042 C000900 100
042 D000900 0
042 E000900 0
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042 H000900 0
043 000900 361
044 000900 0
055 A000900 N
<PAGE> PAGE 35
055 B000900 Y
056 000900 Y
057 000900 N
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062 E000900 3.1
062 F000900 0.0
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062 O000900 95.5
062 P000900 0.0
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062 R000900 1.4
063 A000900 0
063 B000900 10.8
064 A000900 N
064 B000900 N
070 A010900 Y
070 A020900 N
070 B010900 N
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 Y
070 E020900 Y
070 F010900 N
070 F020900 N
070 G010900 Y
070 G020900 Y
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 N
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
<PAGE> PAGE 36
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 Y
070 P010900 Y
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 Y
070 R020900 N
071 A000900 43770
071 B000900 45222
071 C000900 64435
071 D000900 69
072 A000900 12
072 B000900 3830
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072EE000900 0
073 A010900 0.3910
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073 B000900 0.0000
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<PAGE> PAGE 37
074 A000900 74
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074 C000900 2000
074 D000900 61728
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074 S000900 0
074 T000900 64616
074 U010900 4210
074 U020900 4488
074 V010900 7.43
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076 000900 0.00
015 A001001 UMB, N.A.
015 B001001 C
015 C011001 KANSAS CITY
015 C021001 MO
015 C031001 64106
015 E011001 X
028 A011000 1355
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028 B011000 392
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<PAGE> PAGE 38
028 D011000 277
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028 F021000 2
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028 H001000 1867
029 001000 Y
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038 001000 0
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040 001000 Y
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042 H001000 0
043 001000 182
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049 001000 N
050 001000 N
051 001000 N
052 001000 N
053 A001000 Y
053 B001000 Y
053 C001000 N
<PAGE> PAGE 39
055 A001000 N
055 B001000 N
056 001000 Y
057 001000 N
062 A001000 Y
062 B001000 0.0
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062 E001000 1.8
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062 O001000 97.3
062 P001000 0.0
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062 R001000 0.9
063 A001000 0
063 B001000 8.7
064 A001000 N
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070 A011000 Y
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070 B011000 N
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070 E021000 Y
070 F011000 N
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070 I021000 N
070 J011000 Y
070 J021000 N
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070 K021000 N
070 L011000 N
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070 M011000 N
<PAGE> PAGE 40
070 M021000 N
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070 Q021000 N
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070 R021000 N
071 A001000 12869
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<PAGE> PAGE 41
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076 001000 0.00
SIGNATURE PETER LYDECKER
TITLE CONTROLLER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL MASSACHUSETTS TAX-EXEMPT FUND, CLASS A YEAR END
JAN-31-1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS OF COLONIAL MASSACHUSETTS TAX-EXEMPT FUND, CLASS A YEAR
END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 1
<NAME> COLONIAL MASSACHUSETTS TAX-EXEMPT FUND, CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 232246
<INVESTMENTS-AT-VALUE> 247631
<RECEIVABLES> 3317
<ASSETS-OTHER> 32
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 250980
<PAYABLE-FOR-SECURITIES> 2081
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5535
<TOTAL-LIABILITIES> 7616
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 230061
<SHARES-COMMON-STOCK> 23587
<SHARES-COMMON-PRIOR> 25836
<ACCUMULATED-NII-CURRENT> 169
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2387)
<ACCUM-APPREC-OR-DEPREC> 15521
<NET-ASSETS> 243364
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 15573
<OTHER-INCOME> 0
<EXPENSES-NET> (2684)
<NET-INVESTMENT-INCOME> 12889
<REALIZED-GAINS-CURRENT> 3643
<APPREC-INCREASE-CURRENT> (11498)
<NET-CHANGE-FROM-OPS> 5034
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10187)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1752
<NUMBER-OF-SHARES-REDEEMED> (4701)
<SHARES-REINVESTED> 700
<NET-CHANGE-IN-ASSETS> (17241)
<ACCUMULATED-NII-PRIOR> 34
<ACCUMULATED-GAINS-PRIOR> (5945)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1285
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2690
<AVERAGE-NET-ASSETS> 250683
<PER-SHARE-NAV-BEGIN> 8.040
<PER-SHARE-NII> 0.415
<PER-SHARE-GAIN-APPREC> (0.234)
<PER-SHARE-DIVIDEND> (0.411)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.810
<EXPENSE-RATIO> 0.90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL MASSACHUSETTS TAX-EXEMPT FUND, CLASS B YEAR END
JAN-31-1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS OF COLONIAL MASSACHUSETTS TAX-EXEMPT FUND, CLASS B YEAR END
JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 1
<NAME> COLONIAL MASSACHUSETTS TAX-EXEMPT FUND, CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 232246
<INVESTMENTS-AT-VALUE> 247631
<RECEIVABLES> 3317
<ASSETS-OTHER> 32
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 250980
<PAYABLE-FOR-SECURITIES> 2081
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5535
<TOTAL-LIABILITIES> 7616
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 230061
<SHARES-COMMON-STOCK> 7574
<SHARES-COMMON-PRIOR> 7542
<ACCUMULATED-NII-CURRENT> 169
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2387)
<ACCUM-APPREC-OR-DEPREC> 15521
<NET-ASSETS> 243364
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 15573
<OTHER-INCOME> 0
<EXPENSES-NET> (2684)
<NET-INVESTMENT-INCOME> 12889
<REALIZED-GAINS-CURRENT> 3643
<APPREC-INCREASE-CURRENT> (11498)
<NET-CHANGE-FROM-OPS> 5034
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2652)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 929
<NUMBER-OF-SHARES-REDEEMED> (1098)
<SHARES-REINVESTED> 201
<NET-CHANGE-IN-ASSETS> (17241)
<ACCUMULATED-NII-PRIOR> 32
<ACCUMULATED-GAINS-PRIOR> (5945)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1285
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2690
<AVERAGE-NET-ASSETS> 250683
<PER-SHARE-NAV-BEGIN> 8.040
<PER-SHARE-NII> 0.357
<PER-SHARE-GAIN-APPREC> (0.234)
<PER-SHARE-DIVIDEND> (0.353)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.810
<EXPENSE-RATIO> 1.65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL CONNECTICUT TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIAL CONNECTICUT TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 2
<NAME> COLONIAL CONNECTICUT TAX-EXEMPT FUND, CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 146646
<INVESTMENTS-AT-VALUE> 152996
<RECEIVABLES> 3458
<ASSETS-OTHER> 58
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 156512
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1016
<TOTAL-LIABILITIES> 1016
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 155011
<SHARES-COMMON-STOCK> 9883
<SHARES-COMMON-PRIOR> 10496
<ACCUMULATED-NII-CURRENT> 54
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (6183)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6614
<NET-ASSETS> 155496
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9154
<OTHER-INCOME> 0
<EXPENSES-NET> 1536
<NET-INVESTMENT-INCOME> 7618
<REALIZED-GAINS-CURRENT> 569
<APPREC-INCREASE-CURRENT> (3468)
<NET-CHANGE-FROM-OPS> 4719
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3952)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1122
<NUMBER-OF-SHARES-REDEEMED> (2038)
<SHARES-REINVESTED> 303
<NET-CHANGE-IN-ASSETS> (7328)
<ACCUMULATED-NII-PRIOR> 52
<ACCUMULATED-GAINS-PRIOR> (6740)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 799
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2027
<AVERAGE-NET-ASSETS> 155922
<PER-SHARE-NAV-BEGIN> 7.630
<PER-SHARE-NII> 0.393
<PER-SHARE-GAIN-APPREC> (0.141)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.392)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.490
<EXPENSE-RATIO> 0.59
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL CONNECTICUT TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
AND IS QUALIFIED IN ITS ENTIREY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIAL CONNECTICUT TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 2
<NAME> COLONIAL CONNECTICUT TAX-EXEMPT FUND, CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 146646
<INVESTMENTS-AT-VALUE> 152996
<RECEIVABLES> 3458
<ASSETS-OTHER> 58
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 156512
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1016
<TOTAL-LIABILITIES> 1016
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 155011
<SHARES-COMMON-STOCK> 10867
<SHARES-COMMON-PRIOR> 10857
<ACCUMULATED-NII-CURRENT> 54
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (6183)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6614
<NET-ASSETS> 155496
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9154
<OTHER-INCOME> 0
<EXPENSES-NET> 1536
<NET-INVESTMENT-INCOME> 7618
<REALIZED-GAINS-CURRENT> 569
<APPREC-INCREASE-CURRENT> (3468)
<NET-CHANGE-FROM-OPS> 4719
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3680)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1316
<NUMBER-OF-SHARES-REDEEMED> (1596)
<SHARES-REINVESTED> 290
<NET-CHANGE-IN-ASSETS> (7328)
<ACCUMULATED-NII-PRIOR> 52
<ACCUMULATED-GAINS-PRIOR> (6740)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 799
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2027
<AVERAGE-NET-ASSETS> 155922
<PER-SHARE-NAV-BEGIN> 7.630
<PER-SHARE-NII> 0.338
<PER-SHARE-GAIN-APPREC> (0.141)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.337)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.490
<EXPENSE-RATIO> 1.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL MICHIGAN TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIAL MICHIGAN TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 4
<NAME> COLONIAL MICHIGAN TAX-EXEMPT FUND, CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 50593
<INVESTMENTS-AT-VALUE> 52547
<RECEIVABLES> 737
<ASSETS-OTHER> 19
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 53303
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 333
<TOTAL-LIABILITIES> 333
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 52167
<SHARES-COMMON-STOCK> 5712
<SHARES-COMMON-PRIOR> 6072
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1158)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1961
<NET-ASSETS> 52970
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3284
<OTHER-INCOME> 0
<EXPENSES-NET> (590)
<NET-INVESTMENT-INCOME> 2694
<REALIZED-GAINS-CURRENT> 141
<APPREC-INCREASE-CURRENT> (1769)
<NET-CHANGE-FROM-OPS> 1066
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2101)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 323
<NUMBER-OF-SHARES-REDEEMED> (856)
<SHARES-REINVESTED> 173
<NET-CHANGE-IN-ASSETS> (5574)
<ACCUMULATED-NII-PRIOR> 18
<ACCUMULATED-GAINS-PRIOR> (1310)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 280
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 653
<AVERAGE-NET-ASSETS> 54677
<PER-SHARE-NAV-BEGIN> 7.130
<PER-SHARE-NII> 0.354
<PER-SHARE-GAIN-APPREC> (0.198)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.356)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.930
<EXPENSE-RATIO> 0.89
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL MICHIGAN TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIAL MICHIGAN TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 4
<NAME> COLONIAL MICHIGAN TAX-EXEMPT FUND, CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 50593
<INVESTMENTS-AT-VALUE> 52547
<RECEIVABLES> 737
<ASSETS-OTHER> 19
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 53303
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 333
<TOTAL-LIABILITIES> 333
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 52167
<SHARES-COMMON-STOCK> 1927
<SHARES-COMMON-PRIOR> 2136
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1158)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1961
<NET-ASSETS> 52970
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3284
<OTHER-INCOME> 0
<EXPENSES-NET> (590)
<NET-INVESTMENT-INCOME> 2694
<REALIZED-GAINS-CURRENT> 141
<APPREC-INCREASE-CURRENT> (1769)
<NET-CHANGE-FROM-OPS> 1066
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (615)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 103
<NUMBER-OF-SHARES-REDEEMED> 356
<SHARES-REINVESTED> 44
<NET-CHANGE-IN-ASSETS> (5574)
<ACCUMULATED-NII-PRIOR> 18
<ACCUMULATED-GAINS-PRIOR> (1310)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 280
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 653
<AVERAGE-NET-ASSETS> 54677
<PER-SHARE-NAV-BEGIN> 7.130
<PER-SHARE-NII> 0.302
<PER-SHARE-GAIN-APPREC> (0.198)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.304)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 6.930
<EXPENSE-RATIO> 1.64
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL MINNESOTA TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIAL MINNESOTA TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 5
<NAME> COLONIAL MINNESOTA TAX-EXEMPT FUND, CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 52178
<INVESTMENTS-AT-VALUE> 53670
<RECEIVABLES> 863
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 90
<TOTAL-ASSETS> 54623
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 248
<TOTAL-LIABILITIES> 248
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 53371
<SHARES-COMMON-STOCK> 4906
<SHARES-COMMON-PRIOR> 4980
<ACCUMULATED-NII-CURRENT> 4
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (482)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1482
<NET-ASSETS> 54375
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3361
<OTHER-INCOME> 0
<EXPENSES-NET> 643
<NET-INVESTMENT-INCOME> 2718
<REALIZED-GAINS-CURRENT> 156
<APPREC-INCREASE-CURRENT> (1821)
<NET-CHANGE-FROM-OPS> 1053
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1850)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 635
<NUMBER-OF-SHARES-REDEEMED> (886)
<SHARES-REINVESTED> 177
<NET-CHANGE-IN-ASSETS> (1294)
<ACCUMULATED-NII-PRIOR> (7)
<ACCUMULATED-GAINS-PRIOR> (941)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 282
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 643
<AVERAGE-NET-ASSETS> 55135
<PER-SHARE-NAV-BEGIN> 7.350
<PER-SHARE-NII> 0.369
<PER-SHARE-GAIN-APPREC> (0.222)
<PER-SHARE-DIVIDEND> (0.367)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.130
<EXPENSE-RATIO> 0.900
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL MINNESOTA TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIAL MINNESOTA TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 5
<NAME> COLONIAL MINNESOTA TAX-EXEMPT FUND, CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 52178
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<ASSETS-OTHER> 0
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<TOTAL-ASSETS> 54623
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<TOTAL-LIABILITIES> 248
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<PAID-IN-CAPITAL-COMMON> 53371
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<ACCUM-APPREC-OR-DEPREC> 1482
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<DIVIDEND-INCOME> 0
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<APPREC-INCREASE-CURRENT> (1821)
<NET-CHANGE-FROM-OPS> 1053
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (856)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 362
<NUMBER-OF-SHARES-REDEEMED> (320)
<SHARES-REINVESTED> 80
<NET-CHANGE-IN-ASSETS> (1294)
<ACCUMULATED-NII-PRIOR> (7)
<ACCUMULATED-GAINS-PRIOR> (941)
<OVERDISTRIB-NII-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 643
<AVERAGE-NET-ASSETS> 55135
<PER-SHARE-NAV-BEGIN> 7.350
<PER-SHARE-NII> 0.316
<PER-SHARE-GAIN-APPREC> (0.222)
<PER-SHARE-DIVIDEND> (0.314)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.130
<EXPENSE-RATIO> 1.65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL NEW YORK TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIAL NEW YORK TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 6
<NAME> COLONIAL NEW YORK TAX-EXEMPT FUND, CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 96831
<INVESTMENTS-AT-VALUE> 102589
<RECEIVABLES> 1488
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 78
<TOTAL-ASSETS> 104155
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 646
<TOTAL-LIABILITIES> 646
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 102347
<SHARES-COMMON-STOCK> 7196
<SHARES-COMMON-PRIOR> 7839
<ACCUMULATED-NII-CURRENT> 71
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4658)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5749
<NET-ASSETS> 103509
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6545
<OTHER-INCOME> 0
<EXPENSES-NET> (1087)
<NET-INVESTMENT-INCOME> 5458
<REALIZED-GAINS-CURRENT> 816
<APPREC-INCREASE-CURRENT> (3965)
<NET-CHANGE-FROM-OPS> 2309
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2934)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 946
<NUMBER-OF-SHARES-REDEEMED> (1797)
<SHARES-REINVESTED> 208
<NET-CHANGE-IN-ASSETS> (6791)
<ACCUMULATED-NII-PRIOR> 120
<ACCUMULATED-GAINS-PRIOR> (5667)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 539
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1389
<AVERAGE-NET-ASSETS> 105266
<PER-SHARE-NAV-BEGIN> 7.500
<PER-SHARE-NII> 0.427
<PER-SHARE-GAIN-APPREC> (0.834)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.413)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.040
<EXPENSE-RATIO> 0.42
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL NEW YORK TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIAL NEW YORK TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 6
<NAME> COLONIAL NEW YORK TAX-EXEMPT FUND, CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 96831
<INVESTMENTS-AT-VALUE> 102589
<RECEIVABLES> 1488
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 78
<TOTAL-ASSETS> 104155
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 646
<TOTAL-LIABILITIES> 646
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 102347
<SHARES-COMMON-STOCK> 7510
<SHARES-COMMON-PRIOR> 7384
<ACCUMULATED-NII-CURRENT> 71
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4658)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5749
<NET-ASSETS> 103509
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6545
<OTHER-INCOME> 0
<EXPENSES-NET> (1087)
<NET-INVESTMENT-INCOME> 5458
<REALIZED-GAINS-CURRENT> 816
<APPREC-INCREASE-CURRENT> (3965)
<NET-CHANGE-FROM-OPS> 2309
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2613)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1135
<NUMBER-OF-SHARES-REDEEMED> (1213)
<SHARES-REINVESTED> 204
<NET-CHANGE-IN-ASSETS> (6791)
<ACCUMULATED-NII-PRIOR> 120
<ACCUMULATED-GAINS-PRIOR> (5667)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 539
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1389
<AVERAGE-NET-ASSETS> 105266
<PER-SHARE-NAV-BEGIN> 7.500
<PER-SHARE-NII> 0.376
<PER-SHARE-GAIN-APPREC> (0.834)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.362)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.040
<EXPENSE-RATIO> 1.17
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL OHIO TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF COLONIAL
OHIO TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 7
<NAME> COLONIAL OHIO TAX-EXEMPT FUND, CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 110399
<INVESTMENTS-AT-VALUE> 114898
<RECEIVABLES> 1369
<ASSETS-OTHER> 71
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 116338
<PAYABLE-FOR-SECURITIES> 986
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 688
<TOTAL-LIABILITIES> 1674
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 112295
<SHARES-COMMON-STOCK> 8880
<SHARES-COMMON-PRIOR> 9907
<ACCUMULATED-NII-CURRENT> 86
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2229)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4512
<NET-ASSETS> 114664
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7164
<OTHER-INCOME> 0
<EXPENSES-NET> (1450)
<NET-INVESTMENT-INCOME> 5714
<REALIZED-GAINS-CURRENT> 1248
<APPREC-INCREASE-CURRENT> (4343)
<NET-CHANGE-FROM-OPS> 2619
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3413)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 264
<NUMBER-OF-SHARES-REDEEMED> (1565)
<SHARES-REINVESTED> 274
<NET-CHANGE-IN-ASSETS> (15879)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (3443)
<OVERDISTRIB-NII-PRIOR> (52)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 660
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1498
<AVERAGE-NET-ASSETS> 68213
<PER-SHARE-NAV-BEGIN> 7.510
<PER-SHARE-NII> 0.372
<PER-SHARE-GAIN-APPREC> (0.179)
<PER-SHARE-DIVIDEND> 0.363
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.340
<EXPENSE-RATIO> 0.88
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL OHIO TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF COLONIAL
OHIO TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 7
<NAME> COLONIAL OHIO TAX-EXEMPT FUND, CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 110399
<INVESTMENTS-AT-VALUE> 114898
<RECEIVABLES> 1369
<ASSETS-OTHER> 71
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 116338
<PAYABLE-FOR-SECURITIES> 986
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 688
<TOTAL-LIABILITIES> 1674
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 112295
<SHARES-COMMON-STOCK> 6739
<SHARES-COMMON-PRIOR> 7479
<ACCUMULATED-NII-CURRENT> 86
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2229)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4512
<NET-ASSETS> 114664
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7164
<OTHER-INCOME> 0
<EXPENSES-NET> 1450
<NET-INVESTMENT-INCOME> 5714
<REALIZED-GAINS-CURRENT> 1248
<APPREC-INCREASE-CURRENT> (4343)
<NET-CHANGE-FROM-OPS> 2619
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2200)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 428
<NUMBER-OF-SHARES-REDEEMED> (1352)
<SHARES-REINVESTED> 184
<NET-CHANGE-IN-ASSETS> (15879)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (3443)
<OVERDISTRIB-NII-PRIOR> (52)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 660
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1498
<AVERAGE-NET-ASSETS> 51759
<PER-SHARE-NAV-BEGIN> 7.510
<PER-SHARE-NII> 0.318
<PER-SHARE-GAIN-APPREC> (0.179)
<PER-SHARE-DIVIDEND> 0.309
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.340
<EXPENSE-RATIO> 1.63
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL CALIFORNIA TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIA CALIFORNIA TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 8
<NAME> COLONIAL CALIFORNIA TAX-EXEMPT FUND, CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 345951
<INVESTMENTS-AT-VALUE> 359674
<RECEIVABLES> 12359
<ASSETS-OTHER> 43
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 372076
<PAYABLE-FOR-SECURITIES> 5026
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2124
<TOTAL-LIABILITIES> 7150
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 352481
<SHARES-COMMON-STOCK> 35835
<SHARES-COMMON-PRIOR> 40391
<ACCUMULATED-NII-CURRENT> 182
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1784)
<ACCUM-APPREC-OR-DEPREC> 14047
<NET-ASSETS> 364926
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 23099
<OTHER-INCOME> 0
<EXPENSES-NET> (4089)
<NET-INVESTMENT-INCOME> 19010
<REALIZED-GAINS-CURRENT> 6801
<APPREC-INCREASE-CURRENT> (16275)
<NET-CHANGE-FROM-OPS> 9536
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14448)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1669
<NUMBER-OF-SHARES-REDEEMED> (7085)
<SHARES-REINVESTED> 860
<NET-CHANGE-IN-ASSETS> (46580)
<ACCUMULATED-NII-PRIOR> 28
<ACCUMULATED-GAINS-PRIOR> (8413)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1939
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4089
<AVERAGE-NET-ASSETS> 378248
<PER-SHARE-NAV-BEGIN> 7.540
<PER-SHARE-NII> 0.386
<PER-SHARE-GAIN-APPREC> (0.173)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.383)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.370
<EXPENSE-RATIO> 0.88
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL CALIFORNIA TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
AND IS QUALIFIED IN ITS ENTIRETY BY REFRENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIAL CALIFORNIA TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 8
<NAME> COLONIAL CALIFORNIA TAX-EXEMPT FUND, CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 345951
<INVESTMENTS-AT-VALUE> 359674
<RECEIVABLES> 12359
<ASSETS-OTHER> 43
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 372076
<PAYABLE-FOR-SECURITIES> 5026
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2124
<TOTAL-LIABILITIES> 7150
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 352481
<SHARES-COMMON-STOCK> 13690
<SHARES-COMMON-PRIOR> 14180
<ACCUMULATED-NII-CURRENT> 182
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1784)
<ACCUM-APPREC-OR-DEPREC> 14047
<NET-ASSETS> 364926
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 23099
<OTHER-INCOME> 0
<EXPENSES-NET> (4089)
<NET-INVESTMENT-INCOME> 19010
<REALIZED-GAINS-CURRENT> 6801
<APPREC-INCREASE-CURRENT> (16275)
<NET-CHANGE-FROM-OPS> 9536
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4590)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1544
<NUMBER-OF-SHARES-REDEEMED> (2357)
<SHARES-REINVESTED> 323
<NET-CHANGE-IN-ASSETS> (46580)
<ACCUMULATED-NII-PRIOR> 28
<ACCUMULATED-GAINS-PRIOR> (8413)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1939
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4089
<AVERAGE-NET-ASSETS> 378248
<PER-SHARE-NAV-BEGIN> 7.54
<PER-SHARE-NII> 0.331
<PER-SHARE-GAIN-APPREC> (0.173)
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (0.328)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.370
<EXPENSE-RATIO> 1.63
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL FLORIDA TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997 AND
IS QUALIFIED INITES ENTIRETY BY RREFERENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIAL FLORIDA TAX-EXEMPT FUND, CLASS A YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 9
<NAME> COLONIAL FLORIDA TAX-EXEMPT FUND, CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 62486
<INVESTMENTS-AT-VALUE> 63728
<RECEIVABLES> 1146
<ASSETS-OTHER> 85
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 64959
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 343
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 66029
<SHARES-COMMON-STOCK> 4210
<SHARES-COMMON-PRIOR> 4280
<ACCUMULATED-NII-CURRENT> 97
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2735)
<ACCUM-APPREC-OR-DEPREC> 1225
<NET-ASSETS> 64616
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3830
<OTHER-INCOME> 0
<EXPENSES-NET> 622
<NET-INVESTMENT-INCOME> 3208
<REALIZED-GAINS-CURRENT> 552
<APPREC-INCREASE-CURRENT> (2305)
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1656)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 655
<NUMBER-OF-SHARES-REDEEMED> (816)
<SHARES-REINVESTED> 91
<NET-CHANGE-IN-ASSETS> (3724)
<ACCUMULATED-NII-PRIOR> 66
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (3283)
<GROSS-ADVISORY-FEES> 335
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 911
<AVERAGE-NET-ASSETS> 65273625
<PER-SHARE-NAV-BEGIN> 7.620
<PER-SHARE-NII> 0.340
<PER-SHARE-GAIN-APPREC> (0.194)
<PER-SHARE-DIVIDEND> (0.336)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.430
<EXPENSE-RATIO> 0.131
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL FLORIDA TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997 AND
SIS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS OF
COLONIAL FLORIDA TAX-EXEMPT FUND, CLASS B YEAR END JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 9
<NAME> COLONIAL FLORIDA TAX-EXEMPT FUND, CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
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<TOTAL-LIABILITIES> 343
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 66029
<SHARES-COMMON-STOCK> 4488
<SHARES-COMMON-PRIOR> 4693
<ACCUMULATED-NII-CURRENT> 97
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<OVERDISTRIBUTION-GAINS> (2735)
<ACCUM-APPREC-OR-DEPREC> 1225
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL NORTH CAROLINA TAX-EXEMPT FUND, CLASS A YEAR END
JAN-31-1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS OF COLONIAL NORTH CAROLINA TAX-EXEMPT FUND, CLASS A YEAR END
JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 10
<NAME> COLONIAL NORTH CAROLINA TAX-EXEMPT FUND, CLASS A
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<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS OF COLONIAL NORTH CAROLINA TAX-EXEMPT FUND, CLASS B YEAR END
JAN-31-1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS OF COLONIAL NORTH CAROLINA TAX-EXEMPT FUND, CLASS B YEAR END
JAN-31-1997
</LEGEND>
<CIK> 0000810891
<NAME> COLONIAL TRUST V
<SERIES>
<NUMBER> 10
<NAME> COLONIAL NORTH CAROLINA TAX-EXEMPT FUND, CLASS B
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<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JAN-31-1997
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<SHARES-COMMON-STOCK> 2447
<SHARES-COMMON-PRIOR> 2557
<ACCUMULATED-NII-CURRENT> 24
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</TABLE>
