FORM 10-QSB--QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                        Quarterly or Transitional Report

                      U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

                    For the quarterly period ended June 30, 2000


[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934


                For the transition period from _________to _________

                         Commission file number 0-14248

                              ANGELES PARTNERS XIV

         (Exact name of small business issuer as specified in its charter)



         California                                              95-3959771
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation or organization)                              Identification No.)

                          55 Beattie Place, PO Box 1089

                        Greenville, South Carolina 29602

                      (Address of principal executive offices)

                                 (864) 239-1000

                           (Issuer's telephone number)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 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____

<PAGE>

                         PART I - FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS

a)

                              ANGELES PARTNERS XIV

                           CONSOLIDATED BALANCE SHEET

                                   (Unaudited)

                          (in thousands, except unit data)

                                  June 30, 2000
<TABLE>
<CAPTION>

Assets

<S>                                                                         <C>
   Cash and cash equivalents                                                $  1,207
   Receivables and deposits                                                      371
   Restricted escrows                                                            217
   Other assets                                                                  337
   Investment properties:
      Land                                                    $  2,243
      Buildings and related personal property                   26,040
                                                                28,283

      Less accumulated depreciation                            (19,160)        9,123
                                                                            $ 11,255

Liabilities and Partners' Deficit
Liabilities

   Accounts payable                                                           $   62
   Tenant security deposit liabilities                                           124
   Accrued property taxes                                                        343
   Accrued interest                                                            7,792
   Due to affiliates                                                           1,522
   Other liabilities                                                              88
   Notes payable, including $4,576 in default                                 29,849

Partners' Deficit

   General partners                                            $  (668)
   Limited partners (43,589 units issued and
      outstanding)                                             (27,857)      (28,525)
                                                                            $ 11,255
</TABLE>

            See Accompanying Notes to Consolidated Financial Statements

<PAGE>

b)

                              ANGELES PARTNERS XIV

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                                   (Unaudited)

                          (in thousands, except unit data)

<TABLE>
<CAPTION>


                                          Three Months Ended       Six Months Ended
                                               June 30,                June 30,
                                           2000        1999        2000        1999
Revenues:
<S>                                       <C>         <C>         <C>         <C>
    Rental income                         $ 1,236     $ 1,176     $ 2,446     $ 2,319
    Other income                               45          38          94          80
      Total revenues                        1,281       1,214       2,540       2,399

Expenses:
   Operating                                  463         420         842         839
   General and administrative                  64          60         116         122
   Depreciation                               342         316         677         632
   Interest                                   858         810       1,705       1,601
   Property taxes                              85          94         190         196
      Total expenses                        1,812       1,700       3,530       3,390

Net loss                                  $  (531)     $ (486)     $ (990)     $ (991)

Net loss allocated to general
   partners (1%)                               (5)         (5)        (10)        (10)
Net loss allocated to limited
   partners (99%)                            (526)       (481)       (980)       (981)

                                          $  (531)     $ (486)     $ (990)     $ (991)

Net loss per limited partnership unit     $(12.07)    $(11.04)    $(22.48)    $(22.51)
</TABLE>

            See Accompanying Notes to Consolidated Financial Statements

<PAGE>

c)

                                ANGELES PARTNERS XIV
               CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' DEFICIT
                                   (Unaudited)

                          (in thousands, except unit data)


<TABLE>
<CAPTION>

                                     Limited
                                     Partnership     General      Limited
                                        Units        Partners    Partners      Total

<S>                                    <C>             <C>       <C>         <C>
Original capital contributions         44,390          $   1     $ 44,390    $ 44,391

Partners' deficit at
   December 31, 1999                   43,589         $ (658)    $(26,877)   $(27,535)

Net loss for the six months
   ended June 30, 2000                     --            (10)        (980)       (990)

Partners' deficit at
   June 30, 2000                       43,589         $ (668)    $(27,857)   $(28,525)

</TABLE>

            See Accompanying Notes to Consolidated Financial Statements

<PAGE>

d)

                              ANGELES PARTNERS XIV

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (Unaudited)

                                   (in thousands)
<TABLE>
<CAPTION>

                                                                  Six Months Ended
                                                                        June 30,

                                                                  2000         1999
Cash flows from operating activities:

<S>                                                              <C>           <C>
  Net loss                                                       $  (990)      $ (991)
  Adjustments to reconcile net loss to net cash
   provided by operating activities:
     Depreciation                                                    677          632
     Amortization of discounts and loan costs                         15           16
     Change in accounts:
      Receivables and deposits                                      (118)        (148)
      Other assets                                                     6          (29)
      Accounts payable                                               (66)         (22)
      Tenant security deposit liabilities                             17            7
      Accrued property taxes                                          78          116
      Accrued interest                                               957          844
      Due to affiliates                                               67           56
      Other liabilities                                             (193)          16

         Net cash provided by operating activities                   450          497

Cash flows from investing activities:

  Property improvements and replacements                            (287)        (142)
  Net (deposits to) receipts from restricted escrows                 (16)          34

         Net cash used in investing activities                      (303)        (108)

Cash flows used in financing activities:

  Principal payments on notes payable                               (150)        (140)

Net (decrease) increase in cash and cash equivalents                  (3)         249
Cash and cash equivalents at beginning of period                   1,210          883

Cash and cash equivalents at end of period                       $ 1,207      $ 1,132

Supplemental disclosure of cash flow information:
  Cash paid for interest                                          $  704        $ 715
</TABLE>

            See Accompanying Notes to Consolidated Financial Statements

<PAGE>

e)

                              ANGELES PARTNERS XIV

                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

Note A - Going Concern

The accompanying  consolidated  financial statements have been prepared assuming
Angeles  Partners XIV (the  "Partnership"  or  "Registrant")  will continue as a
going concern. The Partnership continues to incur recurring operating losses and
suffers from inadequate liquidity.

The Partnership has unsecured working capital loans to Angeles  Acceptance Pool,
L.P.  ("AAP") in the amount of  approximately  $4,576,000  plus related  accrued
interest of approximately  $3,437,000 that is in default due to non-payment upon
maturity in November 1997. This indebtedness is recourse to the Partnership. The
Partnership  does not have the means  with  which to  satisfy  this  obligation.
Angeles Realty  Corporation II (the "Managing General Partner") does not plan to
enter into negotiations with AAP on this indebtedness at this time. The Managing
General Partner  believes that it is doubtful that AAP will initiate  collection
proceedings on this indebtedness  since the estimated value of the Partnership's
investment  properties and other assets are significantly less than the existing
first  mortgages and other secured  Partnership  indebtedness.  If AAP initiates
proceedings,  then the Managing General Partner will enter into  negotiations to
restructure this indebtedness.

The Partnership realized a net loss of approximately $990,000 for the six months
ended June 30, 2000. The Managing  General  Partner  expects the  Partnership to
continue to incur such losses from  operations.  The Partnership  generated cash
from operations of  approximately  $450,000 during the six months ended June 30,
2000;   however,   this  was  primarily  the  result  of  accruing  interest  of
approximately  $957,000 on its indebtedness and, to a lesser extent, $67,000 for
services provided by affiliates.

No  other  sources  of  additional   financing  have  been   identified  by  the
Partnership,  nor does the  Managing  General  Partner  have any other  plans to
remedy the liquidity  problems the  Partnership is currently  experiencing.  The
Managing  General Partner  anticipates  that Fox Crest  Apartments and Waterford
Square Apartments will generate sufficient cash flows for the next twelve months
to meet all property operating expenses,  property debt service requirements and
to fund capital expenditures.  However, these cash flows will be insufficient to
provide debt service for the unsecured Partnership indebtedness.

As a result of the above,  there is  substantial  doubt about the  Partnership's
ability to continue as a going concern. The consolidated financial statements do
not  include  any  adjustments  to reflect the  possible  future  effects on the
recoverability  and  classification of assets or amounts and  classifications of
liabilities that may result from these uncertainties.

<PAGE>

Note B - Basis of Presentation

The accompanying  unaudited consolidated financial statements of the Partnership
have been prepared in accordance with generally accepted  accounting  principles
for interim  financial  information and with the instructions to Form 10-QSB and
Item  310(b) of  Regulation  S-B.  Accordingly,  they do not  include all of the
information and footnotes required by generally accepted  accounting  principles
for  complete  financial  statements.  In the  opinion of the  Managing  General
Partner,  all adjustments  (consisting of normal recurring accruals)  considered
necessary for a fair presentation have been included.  Operating results for the
three and six month periods ended June 30, 2000, are not necessarily  indicative
of the results  that may be expected  for the fiscal  year ending  December  31,
2000. For further  information,  refer to the consolidated  financial statements
and footnotes thereto included in the Partnership's Annual Report on Form 10-KSB
for the fiscal year ended December 31, 1999.

Principles of Consolidation

The  consolidated  financial  statements  include  all  of the  accounts  of the
Partnership  and  its 99%  limited  partnership  interest  in  Waterford  Square
Apartments,  Ltd. The general  partner of the  consolidated  partnership  is the
Managing  General  Partner.  The Managing  General Partner may be removed by the
Registrant;   therefore,   this  consolidated   partnership  is  controlled  and
consolidated by the Registrant.  All significant  interpartnership balances have
been eliminated.

Note C - Transfer of Control

Pursuant  to a series  of  transactions  which  closed  on  October  1, 1998 and
February 26, 1999,  Insignia Financial Group, Inc. and Insignia Properties Trust
("IPT") merged into Apartment  Investment and Management  Company  ("AIMCO"),  a
publicly  traded real estate  investment  trust,  with AIMCO being the surviving
corporation (the "Insignia Merger").  As a result, AIMCO acquired 100% ownership
interest in the Managing General Partner.  The Managing General Partner does not
believe  that this  transaction  has had or will have a  material  effect on the
affairs and operations of the Partnership.

Note D - Transactions with Affiliated Parties

The  Partnership  has no employees  and is  dependent  on the  Managing  General
Partner  and  its  affiliates  for  the  management  and  administration  of all
Partnership  activities.  The  Partnership  Agreement  provides  for (i) certain
payments to affiliates for services and (ii)  reimbursement  of certain expenses
incurred by affiliates on behalf of the Partnership.

The following  payments were paid or accrued to the Managing General Partner and
affiliates during each of the six months ended June 30, 2000 and 1999:

                                                                2000      1999
                                                                (in thousands)

   Property management fees (included in operating expense)     $ 139    $  133
   Reimbursement for services of affiliates (included in
     investment properties, operating, and general and
     administrative expenses)                                      67        56
   Due to affiliate                                             1,522     1,398

<PAGE>

During the six months  ended June 30, 2000 and 1999  affiliates  of the Managing
General  Partner were entitled to receive 5% of gross  receipts from both of the
Registrant's  residential  properties as  compensation  for  providing  property
management  services.  The  Registrant  paid  to such  affiliates  approximately
$139,000  and  $133,000  for the six  months  ended  June  30,  2000  and  1999,
respectively.

Affiliates  of the Managing  General  Partner were to receive  reimbursement  of
accountable  administrative  expenses  amounting  to  approximately  $67,000 and
$56,000  for the six months  ended  June 30,  2000 and 1999,  respectively.  The
Partnership owed the affiliates  approximately $1,522,000 and $1,398,000 at June
30, 2000 and 1999, respectively.

In November 1992,  AAP, a Delaware  limited  partnership  which now controls the
working capital loans previously  provided by Angeles Capital  Investment,  Inc.
("ACII"),  was  organized.  Angeles  Corporation  ("Angeles") is the 99% limited
partner  of AAP and  Angeles  Acceptance  Directives,  Inc.  ("AAD"),  which was
wholly-owned  by IPT, and was, until April 14, 1995,  the 1% general  partner of
AAP. On April 14, 1995, as part of a settlement of claims between  affiliates of
the General  Partner and  Angeles,  AAD  resigned as general  partner of AAP and
simultaneously  received a 0.5% limited partner interest in AAP. An affiliate of
Angeles now serves as the general partner of AAP.

The AAP working  capital loans funded the  Partnership's  operating  deficits in
prior years.  Total  indebtedness  was  approximately  $4,576,000,  plus accrued
interest of  approximately  $3,437,000,  at June 30, 2000, with monthly interest
accruing at prime plus two percent.  Upon  maturity on November  25,  1997,  the
Partnership  did not have the means  with which to satisfy  this  maturing  debt
obligation.  Total interest expense for this loan was approximately $244,000 and
$215,000 for the six months ended June 30, 2000 and 1999, respectively.

Angeles Mortgage Investment Trust ("AMIT") provided financing (the "AMIT Loans")
to the  Partnership.  Pursuant to a series of  transactions,  affiliates  of the
Managing General Partner acquired ownership  interests in AMIT. On September 17,
1998,  AMIT was  merged  with and into IPT,  the  entity  which  controlled  the
Managing  General  Partner.  Effective  February 26,  1999,  IPT was merged into
AIMCO.  Thus,  AIMCO is the  current  holder of the AMIT  loans.  The  principal
balances on the AMIT Loans  totals  approximately  $7,603,000  at June 30, 2000,
accrues  interest  at rates of 12% to 12.5% per annum  and are  recourse  to the
Partnership.  Two of the three notes totaling  $2,838,000  originally matured in
March 1998. The Managing  General  Partner  negotiated  with AMIT to extend this
indebtedness  and in the second quarter of 1998,  executed an extension  through
March  2002.  The  remaining  note with a  principal  balance  of  approximately
$4,765,000  matures in March 2003.  Total interest expense on the AMIT Loans was
approximately  $712,000  and $629,000 for the six months ended June 30, 2000 and
1999,  respectively.  Accrued interest was approximately  $4,236,000 at June 30,
2000.

AIMCO and its affiliates  currently own 8,658 limited  partnership  units in the
Partnership  representing  19.86% of the  outstanding  units.  A number of these
units were acquired  pursuant to tender offers made by AIMCO or its  affiliates.
It is possible  that AIMCO or its  affiliates  will make one or more  additional
offers to acquire  additional limited  partnership  interests in the Partnership
for cash or in exchange for units in the operating  partnership of AIMCO.  Under
the  Partnership  Agreement,  unitholders  holding a  majority  of the Units are
entitled  to take action  with  respect to a variety of matters.  When voting on
matters,  AIMCO would in all  likelihood  vote the Units it acquired in a manner
favorable  to the  interest of the  Managing  General  Partner  because of their
affiliation with the Managing General Partner.

Note E - Segment Reporting

Description  of the types of products  and  services  from which the  reportable
segment derives its revenues:

The  Partnership  has  one  reportable  segment:   residential  properties.  The
Partnership's  residential  property segment consists of two apartment complexes
one located in Waukegan,  Illinois  and the other in  Huntsville,  Alabama.  The
Partnership rents apartment units to tenants for terms that are typically twelve
months or less.

Measurement of segment profit or loss:

The  Partnership  evaluates  performance  based on segment  profit (loss) before
depreciation.  The accounting policies of the reportable segment are the same as
those described in the  Partnership's  Annual Report on Form 10-KSB for the year
ended December 31, 1999.

Factors management used to identify the enterprise's reportable segment:

The  Partnership's  reportable  segment  consists of investment  properties that
offer similar products and services.  Although each of the investment properties
are  managed  separately,  they have been  aggregated  into one  segment as they
provide services with similar types of products and customers.

Segment  information for the three and six month periods ended June 30, 2000 and
1999 is shown in the tables below (in  thousands).  The "Other" column  includes
Partnership administration related items and income and expense not allocated to
the reportable segment.

    Three months ended June 30, 2000     Residential    Other       Totals

Rental income                              $ 1,236       $  --     $ 1,236
Other income                                    41           4          45
Interest expense                               372         486         858
Depreciation                                   342          --         342
General and administrative expense              --          64          64
Segment profit (loss)                           14        (545)       (531)


    Six months ended June 30, 2000      Residential    Other      Totals

Rental income                             $ 2,446       $  --     $ 2,446
Other income                                   84          10          94
Interest expense                              745         960       1,705
Depreciation                                  677          --         677
General and administrative expense             --         116         116
Segment profit (loss)                          76      (1,066)       (990)
Total assets                               10,877         378      11,255
Capital expenditures for
  investment properties                       287          --         287


   Three months ended June 30, 1999     Residential    Other      Totals

Rental income                             $ 1,176       $  --     $ 1,176
Other income                                   36           2          38
Interest expense                              376         434         810
Depreciation                                  316          --         316
General and administrative expense             --          60          60
Segment profit (loss)                           6        (492)       (486)


    Six months ended June 30, 1999      Residential    Other      Totals

Rental income                             $ 2,319       $  --     $ 2,319
Other income                                   74           6          80
Interest expense                              753         848       1,601
Depreciation                                  632          --         632
General and administrative expense             --         122         122
Segment loss                                  (27)       (964)       (991)
Total assets                               11,236         346      11,582
Capital expenditures for
  investment properties                       142          --         142

Note F - Legal Proceedings

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  its Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging the acquisition of interests in certain general partner
entities by Insignia Financial Group, Inc. and entities which were, at one time,
affiliates of Insignia; past tender offers by the Insignia affiliates to acquire
limited  partnership  units;  the  management  of  partnerships  by the Insignia
affiliates;  and the Insignia  Merger.  The plaintiffs seek monetary damages and
equitable relief, including judicial dissolution of the Partnership. On June 25,
1998,  the Managing  General  Partner  filed a motion  seeking  dismissal of the
action.  In lieu of  responding  to the  motion,  the  plaintiffs  have filed an
amended  complaint.  The Managing General Partner filed demurrers to the amended
complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims,  subject to final court approval,  on behalf of the Partnership
and all limited  partners  who owned  units as of November 3, 1999.  Preliminary
approval of the settlement  was obtained on November 3, 1999 from the Court,  at
which time the Court set a final approval  hearing for December 10, 1999.  Prior
to the December 10, 1999 hearing,  the Court received various  objections to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying them from the case. The Court will entertain applications for lead
counsel which must be filed by August 4, 2000. The Court has scheduled a hearing
on August 21, 2000 to address the issue of appointing lead counsel. The Managing
General Partner does not anticipate that costs associated with this case will be
material to the Partnership's overall operations.

The  Partnership is unaware of any other pending or outstanding  litigation that
is not of a routine nature arising in the ordinary course of business.

<PAGE>

ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

The  matters  discussed  in this Form  10-QSB  contain  certain  forward-looking
statements  and  involve  risks and  uncertainties  (including  changing  market
conditions,   competitive  and  regulatory   matters,   etc.)  detailed  in  the
disclosures  contained  in this  Form  10-QSB  and the  other  filings  with the
Securities and Exchange Commission made by the Registrant from time to time. The
discussion of the  Registrant's  business and results of  operations,  including
forward-looking  statements  pertaining  to such  matters,  does not  take  into
account the effects of any changes to the  Registrant's  business and results of
operation.  Accordingly,  actual  results  could  differ  materially  from those
projected in the forward-looking  statements as a result of a number of factors,
including those identified herein.

The Partnership's  investment properties consist of two apartment complexes. The
following  table sets forth the average  occupancy of the properties for the six
months ended June 30, 2000 and 1999:

                                                  Average Occupancy

      Property                                     2000       1999

      Waterford Square Apartments                   97%        95%
        Huntsville, Alabama
      Fox Crest Apartments                          98%        96%
        Waukegan, Illinois

Results from Operations

The  Partnership's  net  loss  for  the six  months  ended  June  30,  2000  was
approximately  $990,000 compared to a net loss of approximately $991,000 for the
corresponding   period  in  1999.  The  Partnership   recorded  a  net  loss  of
approximately  $531,000 for the three  months ended June 30, 2000  compared to a
net loss of approximately $486,000 for the corresponding period in 1999. The net
loss  remained  comparable  for the six  month  period  ended  June 30,  2000 as
compared to the six month period ended June 30, 1999 due to an increase in total
expenses which was offset by an increase in total revenues.  The increase in net
loss for the three  month  period  ended June 30,  2000 as compared to the three
month  period  ended June 30,  1999 was  primarily  due to an  increase in total
expenses  which was  partially  offset by an  increase  in total  revenues.  The
increase in total  revenues for the three and six month  periods  ended June 30,
2000 was due to an  increase  in both  rental  income and other  income.  Rental
income  increased  due to  increased  average  occupancy,  as noted  above,  and
increased average rental rates at both Waterford Square Apartments and Fox Crest
Apartments.  Other income increased due to an increase in utility charges at Fox
Crest  Apartments  and  increased  interest  income due to higher  average  cash
balances in interest bearing accounts.

The increase in total  expenses for the six month period ended June 30, 2000 was
the result of increases in interest and depreciation expenses slightly offset by
a decrease in general and administrative and property tax expenses. The increase
in total  expenses for the three month period ended June 30, 2000 was the result
of   increases   in   interest,   depreciation,   operating,   and  general  and
administrative expenses.  Interest expense increased due to interest accruing on
the  defaulted  AAP  notes.  The  increase  in  depreciation  expense  is due to
increased capital  improvements and replacements made at the properties over the
past year.  The increase in operating  expenses for the three month period ended
June 30, 2000 was due to increases in administrative and maintenance salaries at
both properties. Property tax expense decreased due to the timing of the receipt
of the property tax bills.

The  decrease in general  and  administrative  expense for the six month  period
ended June 30, 2000 is primarily  due to the  settlement of a legal case in 1999
which was disclosed  during the first  quarter of 1999.  The increase in general
and  administrative  expense for the three month  period  ended June 30, 2000 is
primarily  due to an  increase  in  management  reimbursements  to the  Managing
General Partner allowed under the Partnership Agreement. Included in general and
administrative  expenses  for the six months  ended  June 30,  2000 and 1999 are
management  reimbursements  to the Managing  General  Partner  allowed under the
Partnership  Agreement.  In addition,  costs  associated  with the quarterly and
annual  communications  with  investors and  regulatory  agencies and the annual
audit required by the Partnership Agreement are also included.

As part of the ongoing  business plan of the  Partnership,  the Managing General
Partner  continues  to monitor  the  rental  market  environment  of each of its
investment properties to assess the feasibility of increasing rents, maintaining
or increasing  occupancy levels and protecting the Partnership from increases in
expenses. As part of this plan, the Managing General Partner attempts to protect
the Partnership  from the burden of  inflation-related  increases in expenses by
increasing rents and maintaining a high overall occupancy level. However, due to
changing market  conditions,  which can result in the use of rental  concessions
and  rental  reductions  to  offset  softening  market  conditions  there  is no
guarantee that the Managing General Partner will be able to sustain such a plan.

Liquidity and Capital Resources

At June 30, 2000, the Registrant had cash and cash  equivalents of approximately
$1,207,000 as compared to  approximately  $1,132,000 at June 30, 1999.  Cash and
cash equivalents  decreased  approximately  $3,000 for the period ended June 30,
2000 from the Registrant's  year ended December 31, 1999 and is primarily due to
approximately  $303,000 of cash used in investing  activities and  approximately
$150,000 of cash used in financing activities, partially offset by approximately
$450,000  of cash  provided  by  operating  activities.  Cash used in  investing
activities consisted primarily of property improvements and replacements and, to
a lesser  extent,  net deposits to  restricted  escrows.  Cash used in financing
activities  consisted of payments of principal on the mortgages  encumbering the
Registrant's properties.  The Registrant invests its working capital reserves in
a money market account.

The  accompanying   financial   statements  have  been  prepared   assuming  the
Partnership will continue as a going concern. The Partnership continues to incur
recurring  operating  losses and suffers  from  inadequate  liquidity.  Recourse
indebtedness  due to AAP of  approximately  $4,576,000 plus accrued  interest of
approximately  $3,437,000  is in  default  at June  30,  2000,  as a  result  of
nonpayment of interest and principal  upon its maturity in November  1997.  This
indebtedness is recourse to the  Partnership.  The Partnership does not have the
means with which to satisfy this  obligation.  The Managing General Partner does
not plan to enter into  negotiations with AAP on this indebtedness at this time.
The  Managing  General  Partner  believes  that  the  possibility  that AAP will
initiate collection proceedings on this indebtedness is remote, as the estimated
value  of  the  Partnership's   investment   properties  and  other  assets  are
significantly   less  than  the  existing  first  mortgages  and  other  secured
Partnership  indebtedness.  If AAP  initiates  proceedings,  then  the  Managing
General Partner will enter into negotiations to restructure this indebtedness.

No  other  sources  of  additional   financing  have  been   identified  by  the
Partnership,  nor does the  Managing  General  Partner  have any other  plans to
remedy the liquidity  problems the  Partnership is currently  experiencing.  The
Managing General Partner anticipates that the Fox Crest Apartments and Waterford
Square  Apartments  will generate  sufficient cash flows during 2000 to meet all
property  operating  expenses,  property debt service  requirements  and to fund
capital expenditures.  However, these cash flows will be insufficient to provide
debt service for the unsecured Partnership indebtedness. If the Managing General
Partner is unsuccessful in its efforts to restructure  these loans,  then it may
be forced to liquidate the Partnership.

As a result of the above,  there is  substantial  doubt about the  Partnership's
ability to continue as a going concern.  The financial statements do not include
any adjustments to reflect the possible future effects on the recoverability and
classification of assets or amounts and  classifications of liabilities that may
result from these uncertainties.

With respect to the  Partnership's two apartment  complexes,  the sufficiency of
existing  liquid  assets  to  meet  future  liquidity  and  capital  expenditure
requirements is directly related to the level of capital  expenditures  required
at the properties to adequately maintain the physical assets and other operating
needs of the Partnership and to comply with Federal,  state, and local legal and
regulatory   requirements.   Capital   improvements  planned  for  each  of  the
Registrant's properties are detailed below.

Waterford Square Apartments

The Partnership has budgeted,  but is not limited to, approximately  $158,000 of
capital   improvements  at  Waterford  Square  Apartments  for  2000  consisting
primarily of flooring replacements,  appliances and HVAC condensing units. As of
June 30,  2000,  the  property  has  spent  approximately  $42,000  on  flooring
replacements,  HVAC condensing  units, and appliances.  These  improvements were
funded from operating cash flow and the Partnership's reserves.

Fox Crest Apartments

The Partnership has budgeted,  but is not limited to, approximately  $131,000 of
capital  improvements at Fox Crest  Apartments for 2000 consisting  primarily of
flooring   replacements,   appliances,   plumbing   upgrades  and  heating  unit
replacement.  As of June 30, 2000, the property has spent approximately $245,000
of budgeted and non-budgeted capital improvements consisting primarily of carpet
replacements,   heating  unit  upgrades,  and  electrical  improvements.   These
improvements were funded from operating cash flow.

The  additional  capital  improvements  planned  for  2000 at the  Partnership's
properties will be made only to the extent of cash available from operations and
Partnership reserves.

The existing first mortgage indebtedness,  working capital loans and amounts due
to AMIT are thought to be in excess of the value of the properties. (Pursuant to
a series of  transactions,  affiliates of the Managing  General Partner acquired
ownership  interests in AMIT as follows:  On September 17, 1998, AMIT was merged
with and into IPT and  effective  February 26, 1999,  IPT was merged into AIMCO.
Accordingly,  AIMCO is the current holder of the AMIT loans).  Two AMIT Notes in
the aggregate amount of  approximately  $2,838,000 plus related accrued interest
of approximately  $918,000 mature in March 2002; these notes are recourse to the
Partnership  only.  These loans require monthly payments of excess cash flow, as
defined in the terms of the promissory notes. The Partnership's  other remaining
note to AMIT for  approximately  $4,765,000,  plus accrued interest at 12.5% per
annum  compounded  monthly,  is due March 2003 and does not require any payments
until  maturity.   Accrued  interest  as  of  June  30,  2000  is  approximately
$3,318,000.  The first mortgage loan encumbering  Waterford  Square  Apartments,
which is  guaranteed  by HUD, is scheduled to mature in November  2027, at which
time a balloon  payment of $86,000 is due.  Likewise,  the first  mortgage  loan
encumbering  Fox Crest  Apartments  is scheduled to mature in May 2003, at which
time a balloon  payment of $5,445,000  is due. The  Registrant is current in its
payments on both of these  mortgages.  The Managing General Partner will attempt
to refinance such indebtedness and/or sell the properties prior to such maturity
dates. If the properties  cannot be refinanced or sold for a sufficient  amount,
the Registrant will risk losing such properties through foreclosure.

There were no distributions  made for either of the six month periods ended June
30,  2000 or 1999.  Future cash  distributions  will depend on the levels of net
cash generated from operations, the availability of cash reserves and the timing
of  debt  maturities,  refinancings  and/or  property  sales.  The  Registrant's
distribution  policy is  reviewed  on an  annual  basis.  However,  based on the
current  default under the working  capital loans and the pending  maturities of
the first mortgage loans, it is unlikely that a distribution will be made by the
Registrant in the foreseeable future.

<PAGE>

                           PART II - OTHER INFORMATION

ITEM 1.     LEGAL PROCEEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  its Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging the acquisition of interests in certain general partner
entities by Insignia Financial Group, Inc. and entities which were, at one time,
affiliates of Insignia; past tender offers by the Insignia affiliates to acquire
limited  partnership  units;  the  management  of  partnerships  by the Insignia
affiliates;  and the Insignia  Merger.  The plaintiffs seek monetary damages and
equitable relief, including judicial dissolution of the Partnership. On June 25,
1998,  the Managing  General  Partner  filed a motion  seeking  dismissal of the
action.  In lieu of  responding  to the  motion,  the  plaintiffs  have filed an
amended  complaint.  The Managing General Partner filed demurrers to the amended
complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims,  subject to final court approval,  on behalf of the Partnership
and all limited  partners  who owned  units as of November 3, 1999.  Preliminary
approval of the settlement  was obtained on November 3, 1999 from the Court,  at
which time the Court set a final approval  hearing for December 10, 1999.  Prior
to the December 10, 1999 hearing,  the Court received various  objections to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying them from the case. The Court will entertain applications for lead
counsel which must be filed by August 4, 2000. The Court has scheduled a hearing
on August 21, 2000 to address the issue of appointing lead counsel. The Managing
General Partner does not anticipate that costs associated with this case will be
material to the Partnership's overall operations.

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  Exhibit 27, Financial Data Schedule, is filed as an exhibit to
                  this report.

            b)    Reports on Form 8-K:

                  No reports were filed during the quarter ended June 30, 2000.

<PAGE>

                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the Registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

                                    ANGELES PARTNERS XIV

                                    By:   Angeles Realty Corporation II
                                          Managing General Partner

                                    By:   /s/Patrick J. Foye
                                          Patrick J. Foye
                                          Executive Vice President

                                    By:   /s/Martha L. Long
                                          Martha L. Long
                                          Senior Vice President
                                          and Controller

                                    Date: