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 March 31, 2001


[ ] 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)

                                 March 31, 2001

<TABLE>
<CAPTION>


Assets
<S>                                                                         <C>
   Cash and cash equivalents                                                $  1,706
   Receivables and deposits                                                      398
   Restricted escrows                                                            121
   Other assets                                                                  318
   Investment properties:
      Land                                                    $ 2,243
      Buildings and related personal property                   26,305
                                                                28,548
      Less accumulated depreciation                            (20,193)        8,355
                                                                            $ 10,898

Liabilities and Partners' Deficit
Liabilities
   Accounts payable                                                           $ 64
   Tenant security deposit liabilities                                           141
   Accrued property taxes                                                        388
   Accrued interest (including $3,843 in default)                              9,162
   Due to affiliates (Note C)                                                  1,714
   Other liabilities                                                             286
   Notes payable, including $4,576 in default                                 29,298

Partners' Deficit
   General partners                                            $ (689)
   Limited partners (43,421 units issued and
      outstanding)                                             (29,466)      (30,155)
                                                                            $ 10,898

            See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>

b)

                              ANGELES PARTNERS XIV
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
                          (in thousands, except unit data)

<TABLE>
<CAPTION>

                                                                Three Months Ended
                                                                       March 31,
                                                                2001          2000
Revenues:
<S>                                                            <C>          <C>
   Rental income                                               $ 1,243      $ 1,210
   Other income                                                     89           49
      Total revenues                                             1,332        1,259

Expenses:
   Operating                                                       447          379
   General and administrative                                       76           52
   Depreciation                                                    348          335
   Interest                                                        883          847
   Property taxes                                                  110          105
      Total expenses                                             1,864        1,718

Net loss                                                       $ (532)       $ (459)

Net loss allocated to general partners (1%)                     $ (5)         $ (5)

Net loss allocated to limited partners (99%)                      (527)        (454)

                                                               $ (532)       $ (459)

Net loss per limited partnership unit                          $(12.14)     $(10.42)

            See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<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, 2000                   43,421         $ (684)    $(28,939)    $(29,623)

Net loss for the three months
   ended March 31, 2001                    --             (5)        (527)        (532)

Partners' deficit
   at March 31, 2001                   43,421         $ (689)    $(29,466)    $(30,155)

            See Accompanying Notes to Consolidated Financial Statements
</TABLE>


<PAGE>


d)

                              ANGELES PARTNERS XIV
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                   (in thousands)
<TABLE>
<CAPTION>

                                                                 Three Months Ended
                                                                       March 31,
                                                                  2001         2000
Cash flows from operating activities:
<S>                                                              <C>          <C>
  Net loss                                                       $ (532)      $ (459)
  Adjustments to reconcile net loss to net cash provided
   by operating activities:
     Depreciation                                                    348          335
     Amortization of discounts and loan costs                          8            8
     Change in accounts:
      Receivables and deposits                                      (115)        (128)
      Other assets                                                    11           13
      Accounts payable                                               (57)        (116)
      Tenant security deposit liabilities                              7            7
      Accrued property taxes                                         110          104
      Accrued interest                                               514          472
      Due to affiliates                                               54           27
      Other liabilities                                               20         (178)

        Net cash provided by operating activities                    368           85

Cash flows from investing activities:
  Property improvements and replacements                             (51)         (47)
  Net deposits to restricted escrows                                 (27)         (27)

        Net cash used in investing activities                        (78)         (74)

Cash flows used in financing activities:
  Principal payments on notes payable                                (81)         (74)

Net increase (decrease) in cash and cash equivalents                 209          (63)
Cash and cash equivalents at beginning of period                   1,497        1,210
Cash and cash equivalents at end of period                       $ 1,706      $ 1,147

Supplemental disclosure of cash flow information:
  Cash paid for interest                                          $ 347        $ 353

            See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<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  in  the  amount  of
approximately   $4,576,000  plus  related  accrued   interest  of  approximately
$3,843,000  that is in default at March 31, 2001 as a result of  non-payment  of
interest  and  principal  upon its maturity in November  1997.  These loans were
payable to Angeles Acceptance Pool, L.P. ("AAP"). During the year ended December
31, 2000, AAP transferred ownership of the loans to Saticoy Investments Company,
LLC ("Saticoy"),  a wholly owned entity of The PNL Companies.  This indebtedness
is recourse to the  Partnership.  The  Partnership  does not have the means with
which to  satisfy  this  obligation  and  Saticoy  has a  judgment  against  the
Partnership for this debt.

The  Partnership  realized a net loss of  approximately  $532,000  for the three
months  ended  March  31,  2001.  The  Managing   General  Partner  expects  the
Partnership to continue to incur such losses from  operations.  The  Partnership
generated cash from operations of approximately $368,000 during the three months
ended  March 31,  2001;  however,  this was  primarily  the result of not paying
interest of  approximately  $514,000  on its  unsecured  indebtedness  and, to a
lesser extent, not paying $54,000 for services provided by affiliates.

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.

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.   The  Managing  General  Partner  of  the
Partnership  is an affiliate  of Apartment  Investment  and  Management  Company
("AIMCO").  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 month period
ended March 31, 2001, are not necessarily  indicative of the results that may be
expected for the fiscal year ending December 31, 2001. 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, 2000.

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.

Segment Reporting: Statement of Financial Accounting Standards ("SFAS") No. 131,
Disclosure about Segments of an Enterprise and Related  Information  established
standards for the way that public business  enterprises report information about
operating  segments  in annual  financial  statements  and  requires  that those
enterprises  report selected  information  about  operating  segments in interim
financial reports.  It also establishes  standards for related disclosures about
products and services, geographic areas, and major customers. As defined in SFAS
No. 131, the Partnership has only one reportable  segment.  The Managing General
Partner  believes  that  segment-based  disclosures  will not  result  in a more
meaningful  presentation than the consolidated financial statements as currently
presented.

Note C - 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 three months ended March 31, 2001 and 2000:

                                                              2001       2000
                                                              (in thousands)
   Property management fees (included in
     operating expense)                                       $  72       $ 69
   Reimbursement for services of affiliates (included
     in general and administrative expenses)                     54         28
   Due to affiliate                                           1,714      1,482

During the three months ended March 31, 2001 and 2000 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
$72,000  and  $69,000  for the  three  months  ended  March  31,  2001 and 2000,
respectively.

Affiliates of the Managing  General  Partner were to receive  reimbursements  of
accountable  administrative  expenses  amounting  to  approximately  $54,000 and
$28,000 for the three  months ended March 31, 2001 and 2000,  respectively.  The
Partnership owed the affiliates approximately $1,714,000 and $1,482,000 at March
31, 2001 and 2000, respectively.

In November  1992,  AAP, a Delaware  limited  partnership  which  controlled 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  $3,843,000,  at March 31, 2001, 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 $132,000 and
$121,000  for the three  months  ended  March 31,  2001 and 2000,  respectively.
During the year ended December 31, 2000, AAP transferred  ownership of the loans
to Saticoy,  a wholly owned entity of the PNL  Companies,  which is an unrelated
party.

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  Insignia  Properties  Trust  ("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 total  approximately  $7,291,000
at March 31,  2001,  accrue  interest at rates of 12% to 12.5% per annum and are
recourse  to the  Partnership.  Two  of  the  three  notes  totaling  $2,526,000
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  $382,000  and $351,000 for the three months ended
March 31,  2001 and  2000,  respectively.  Accrued  interest  was  approximately
$5,203,000 at March 31, 2001.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates  currently own 10,418 limited partnership
units in the Partnership  representing  23.99% of the outstanding  units.  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,  which  would
include  without  limitation,  voting on certain  amendments to the  Partnership
Agreement  and voting to remove the  Managing  General  Partner.  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 D - 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,  among other things,  the  acquisition of interests in
certain general partner entities by Insignia Financial Group, Inc.  ("Insignia")
and entities which were, at one time, affiliates of Insignia; past tender offers
by the Insignia affiliates to acquire limited  partnership units;  management of
the  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 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 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 and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Managing  General  Partner  and its  affiliates  filed a
demurrer to the third amended  complaint.  The demurrer is scheduled to be heard
on May 14,  2001.  The Court has also  scheduled a hearing on a motion for class
certification  for August 27, 2001.  Plaintiffs must file their motion for class
certification no later than June 15, 2001. 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.

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 three
months ended March 31, 2001 and 2000:

                                                   Average Occupancy
      Property                                      2001       2000

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

The Managing  General Partner  attributes the decrease in occupancy at Waterford
Square  Apartments  to a soft  market.  Increased  concessions  has  allowed the
property to remain competitive.

Results from Operations

The  Partnership's  net loss for the  three  months  ended  March  31,  2001 was
approximately  $532,000 compared to a net loss of approximately $459,000 for the
corresponding  period in 2000.  The  increase  in net loss for the three  months
ended March 31, 2001 was  primarily due to an increase in total  expenses  which
was  partially  offset by an increase in total  revenues.  The increase in total
revenues was due to an increase in both rental income and other  income.  Rental
income  increased  due  primarily  to  increased  average  rental  rates at both
Waterford Square Apartments and Fox Crest Apartments, which more than offset the
decrease in occupancy, as noted above, at both of the Partnership's  properties.
Other income  increased due to increased  interest  income due to higher average
cash balances in interest bearing accounts and increased cable television income
at both of the Partnership's properties.

The  increase in total  expenses for the three month period ended March 31, 2001
was primarily the result of increases in operating, depreciation,  interest, and
general and administrative  expenses. The increase in operating expenses was due
to increases in administrative  and maintenance  salaries at both properties and
increases in interior painting at both properties.  The increase in depreciation
expense is due to capital  improvements and replacements  made at the properties
over the past year.  Interest expense  increased due to interest accruing on the
defaulted Saticoy notes.

General and administrative  expenses  increased  primarily due to an increase in
the cost of services provided by the Managing General Partner and its affiliates
as allowed  under the  Partnership  Agreement.  Also  included  in  general  and
administrative  expenses  at both March 31,  2001 and 2000 are costs  associated
with the  quarterly and annual  communications  with  investors  and  regulatory
agencies and the annual audit required by the Partnership Agreement.

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 March 31, 2001, the Registrant had cash and cash equivalents of approximately
$1,706,000 as compared to  approximately  $1,147,000 at March 31, 2000. Cash and
cash equivalents increased approximately $209,000 for the period ended March 31,
2001 from the Registrant's  year ended December 31, 2000 and is primarily due to
approximately  $78,000 of cash used in investing  activities  and  approximately
$81,000 of cash used in financing activities,  partially offset by approximately
$368,000  of cash  provided  by  operating  activities.  Cash used in  investing
activities consisted of property  improvements and replacements and 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 interest bearing accounts.

The accompanying  consolidated  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 of approximately  $4,576,000 plus accrued interest of approximately
$3,843,000  is in  default  at March  31,  2001,  as a result of  nonpayment  of
interest  and  principal  upon its maturity in November  1997.  These loans were
payable to Angeles Acceptance Pool, L.P. ("AAP"). During the year ended December
31, 2000, AAP transferred ownership of the loans to Saticoy Investments Company,
LLC ("Saticoy"),  a wholly owned entity of The PNL Companies.  This indebtedness
is recourse to the  Partnership.  The  Partnership  does not have the means with
which to  satisfy  this  obligation  and  Saticoy  has a  judgment  against  the
Partnership for this debt.

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 2001 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  $136,000 of
capital   improvements  at  Waterford  Square  Apartments  for  2001  consisting
primarily  of  carpet  and  vinyl  replacements,   water  heater   replacements,
appliances,  and air conditioning unit  replacements.  As of March 31, 2001, the
property  has spent  approximately  $31,000 on capital  improvements  consisting
primarily  of  carpet  and  vinyl   replacements,   light  fixtures,   clubhouse
renovations,  and appliances. These improvements were funded from operating cash
flow.

Fox Crest Apartments

The Partnership has budgeted,  but is not limited to, approximately  $227,000 of
capital  improvements at Fox Crest  Apartments for 2001 consisting  primarily of
flooring  replacements,  roof replacement and water heater  replacements.  As of
March  31,  2001,  the  property  has spent  approximately  $20,000  on  capital
improvements  consisting primarily of carpet and tile replacements,  cabinet and
countertop  replacements,  maintenance equipment,  and roof replacements.  These
improvements were funded from operating cash flow.

The  additional  capital  improvements  planned  for  2001 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  $2,526,000 plus related accrued interest
of  approximately  $1,095,000  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 on this note as of March 31, 2001 is
approximately  $4,108,000.  The first mortgage loan encumbering Waterford Square
Apartments, which is guaranteed by HUD, is scheduled to mature in November 2027.
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 three month  periods  ended
March 31, 2001 or 2000. 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,  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,  among other things,  the  acquisition of interests in
certain general partner entities by Insignia Financial Group, Inc.  ("Insignia")
and entities which were, at one time, affiliates of Insignia; past tender offers
by the Insignia affiliates to acquire limited  partnership units;  management of
the  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 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 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 and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Managing  General  Partner  and its  affiliates  filed a
demurrer to the third amended  complaint.  The demurrer is scheduled to be heard
on May 14,  2001.  The Court has also  scheduled a hearing on a motion for class
certification  for August 27, 2001.  Plaintiffs must file their motion for class
certification no later than June 15, 2001. 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:

                  None.

            b)    Reports on Form 8-K:

                  None filed during the quarter ended March 31, 2001.


<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: