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 September 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 0-14283


                         ANGELES INCOME PROPERTIES, LTD. IV
         (Exact name of small business issuer as specified in its charter)



         California                                              95-3974194
(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  preceding  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 INCOME PROPERTIES, LTD. IV
                           CONSOLIDATED BALANCE SHEET
                                   (Unaudited)
                          (in thousands, except unit data)

                               September 30, 2000


<TABLE>
<CAPTION>

Assets
<S>                                                                          <C>
   Cash and cash equivalents                                                 $   250
   Receivables and deposits, net of $104 allowance
      for doubtful accounts                                                      240
   Restricted escrows                                                            793
   Other assets                                                                  404
   Investment property:
      Land                                                    $  2,414
      Buildings and related personal property                   18,173
                                                                20,587
      Less accumulated depreciation                            (13,113)        7,474

                                                                            $  9,161
Liabilities and Partners' Deficit
Liabilities
   Accounts payable                                                           $   36
   Tenant security deposit liabilities                                            16
   Accrued property taxes                                                        129
   Other liabilities                                                             220
   Mortgage note payable                                                      14,710
Partners' Deficit
   General partner                                             $  (135)
   Limited partners (131,585 units issued and
      outstanding)                                              (5,815)       (5,950)

                                                                            $  9,161
</TABLE>

            See Accompanying Notes to Consolidated Financial Statements


<PAGE>

b)

                         ANGELES INCOME PROPERTIES, LTD. IV
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
                          (in thousands, except unit data)

<TABLE>
<CAPTION>


                                           Three Months Ended       Nine Months Ended
                                              September 30,           September 30,
                                            2000        1999         2000        1999
Revenues:
<S>                                         <C>         <C>        <C>          <C>
  Rental income                             $  824      $  887     $ 2,565      $ 2,853
  Other income                                  19          66          61          183
  Gain on sale of property                      --          --          --        3,565
     Total revenues                            843         953       2,626        6,601

Expenses:
  Operating                                    449         417       1,208        1,264
  General and administrative                    63          75         143          162
  Depreciation                                 237         235         711          766
  Interest                                     376         373       1,102        1,121
  Property taxes                                30          40         108          151
  Bad debt (recovery) expense, net             (18)        (23)         51          233
     Total expenses                          1,137       1,117       3,323        3,697

Net (loss) income                          $  (294)     $ (164)     $ (697)     $ 2,904

Net (loss) income allocated to general
  partner                                   $   (6)       $ (3)      $ (14)     $ 1,323
Net (loss) income allocated to
  limited partners                            (288)       (161)       (683)       1,581

                                           $  (294)     $ (164)     $ (697)     $ 2,904
Net (loss) income per limited
  partnership unit                         $ (2.19)    $ (1.22)    $ (5.19)     $ 12.02

Distributions per limited partnership
  unit                                      $   --     $ 49.90      $ 7.08      $ 49.90
</TABLE>

            See Accompanying Notes to Consolidated Financial Statements


<PAGE>


c)

                         ANGELES INCOME PROPERTIES, LTD. IV
               CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' DEFICIT
                                   (Unaudited)
                          (in thousands, except unit data)

<TABLE>
<CAPTION>


                                     Limited
                                     Partnership     General      Limited
                                        Units        Partner     Partners     Total

<S>                                    <C>            <C>         <C>        <C>
Original capital contributions         131,800        $    1      $65,900    $65,901

Partners' deficit at
   December 31, 1999                   131,585        $ (102)     $(4,201)   $(4,303)

Distributions to partners                   --           (19)        (931)      (950)

Net loss for the nine months
   ended September 30, 2000                 --           (14)        (683)      (697)

Partners' deficit at
   September 30, 2000                  131,585        $ (135)     $(5,815)   $(5,950)
</TABLE>

            See Accompanying Notes to Consolidated Financial Statements


<PAGE>


d)

                         ANGELES INCOME PROPERTIES, LTD. IV
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                   (in thousands)

<TABLE>
<CAPTION>

                                                                   Nine Months Ended
                                                                     September 30,
                                                                   2000        1999
Cash flows from operating activities:
<S>                                                               <C>         <C>
  Net (loss) income                                               $ (697)     $ 2,904
  Adjustments to reconcile net (loss) income to net
   cash provided by operating activities:
     Gain on sale of property                                          --      (3,565)
     Depreciation                                                     711         766
     Amortization of loan costs and leasing commissions                86          88
     Bad debt expense                                                  51         233
     Change in accounts:
      Receivables and deposits                                        295          69
      Other assets                                                     40          75
      Accounts payable                                                  1          (7)
      Tenant security deposit liabilities                              10          (1)
      Accrued property taxes                                          (32)        (25)
      Other liabilities                                                (9)       (396)
         Net cash provided by operating activities                    456         141

Cash flows from investing activities:
  Lease commissions paid                                              (59)        (45)
  Property improvements and replacements                              (69)         (8)
  Net deposits to restricted escrows                                 (144)        (97)
  Net proceeds from sale of investment property                        --       4,588
         Net cash (used in) provided by investing activities         (272)      4,438

Cash flows from financing activities:
  Payments on mortgage note payable                                  (154)       (140)
  Distribution to partners                                           (950)     (6,700)
         Net cash used in financing activities                     (1,104)     (6,840)

Net decrease in cash and cash equivalents                            (920)     (2,261)

Cash and cash equivalents at beginning of period                    1,170       3,637
Cash and cash equivalents at end of period                         $  250     $ 1,376

Supplemental disclosure of cash flow information:
  Cash paid for interest                                          $ 1,082     $ 1,095

Supplemental disclosure of non-cash transaction:
  Distribution payable to general partner                          $   --       $ 144
</TABLE>

            See Accompanying Notes to Consolidated Financial Statements


<PAGE>

e)

                         ANGELES INCOME PROPERTIES, LTD. IV
                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


Note A - Basis of Presentation

The accompanying  unaudited  consolidated financial statements of Angeles Income
Properties,  Ltd. IV (the  "Partnership" or "Registrant")  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 Angeles Realty Corporation II ("ARC II"
or the "General  Partner"),  all  adjustments  (consisting  of normal  recurring
accruals)  considered  necessary  for a fair  presentation  have been  included.
Operating results for the three and nine month periods ended September 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  of  the  Partnership   include  its
wholly-owned limited partnership interest in Factory Merchants, AIP IV, L.P. and
AIP IV GP,  LP.  The  Partnership  may  remove  the  general  partner of Factory
Merchants,  AIP IV, L.P.  and AIP IV GP, LP;  therefore,  the  partnerships  are
controlled and consolidated by the Partnership. All significant interpartnership
balances have been  eliminated.  Minority  interest is immaterial  and not shown
separately in the consolidated financial statements.

Note B - 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
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 General Partner.  The 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 C - Transactions with Affiliated Parties

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

The following amounts were paid or accrued to the General Partner and affiliates
during the nine months ended September 30, 2000 and 1999:

                                                              2000       1999
                                                              (in thousands)
   Reimbursement for services of affiliates (included
      in general and administrative expense)                  $ 36       $ 54
   Real estate commission                                       --        144

An  affiliate  of the General  Partner  received  reimbursement  of  accountable
administrative  expenses amounting to approximately  $36,000 and $54,000 for the
nine months ended September 30, 2000 and 1999, respectively.

Pursuant  to the  Partnership  Agreement,  the  General  Partner is  entitled to
receive a distribution  equal to 3% of the aggregate  disposition  price of sold
properties.  Pursuant to this provision,  during the nine months ended September
30, 1999, the  Partnership  declared a distribution  of  approximately  $144,000
payable to the General  Partner  related to the sale of Eastgate Mall.  However,
this fee is subordinate to the limited partners receiving a preferred return, as
specified in the  Partnership  Agreement.  In January 2000, the General  Partner
determined  the limited  partners  preferred  return would not be met and repaid
approximately $144,000 to the Partnership.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates  currently own 28,042 limited partnership
units in the Partnership representing 21.319% 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,  which
would  include  without   limitation,   voting  on  certain  amendments  to  the
Partnership  Agreement and voting to remove the 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 General  Partner  because of their  affiliation
with the General Partner.

Note D - Distribution

During the nine months ended September 30, 2000, the Partnership declared a cash
distribution from operations of approximately  $950,000,  of which approximately
$931,000 ($7.08 per limited partnership unit) was paid to the limited partners.

Subsequent to September 30, 2000, the Partnership  declared a distribution  from
operations of approximately  $89,000 of which  approximately  $87,000 ($0.66 per
limited partnership unit) is allocable to the limited partners.

During the nine months ended  September 30, 1999,  the  Partnership  distributed
approximately  $6,700,000  (approximately  $6,566,000  to the limited  partners,
$49.90 per limited partnership unit) to the partners.  Approximately  $2,112,000
(approximately   $2,070,000  to  the  limited   partners,   $15.73  per  limited
partnership  unit) of the  distribution  was from  operations and  approximately
$4,588,000 (approximately $4,496,000 to the limited partners, $34.17 per limited
partnership unit) was from the sale of Eastgate Mall in June 1999.

Note E - Sale of Investment Property

On June  16,  1999,  the  Partnership  sold  Eastgate  Mall to  Pearce-Woodfield
Development  Co.,  LLC, an unrelated  party,  for net proceeds of  approximately
$4,588,000 after payment of closing costs. The Partnership  recognized a gain of
approximately $3,565,000 on the sale during the second quarter of 1999.

Note F - Segment Reporting

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

The  Partnership  has  one  reportable  segment:   commercial  properties.   The
Partnership's commercial property segment consists of one retail shopping center
in Tennessee  at  September  30,  2000.  This  property  leases space to various
specialty  retail outlets and fast food enterprises at terms ranging from 1 to 9
years. The Partnership's other commercial property was sold on June 16, 1999.

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 of the Partnership as described in the Partnership's Annual Report on Form
10-KSB for the fiscal year ended December 31, 1999.

Segment  information  for the three and nine month periods  ended  September 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 September 30, 2000     Commercial      Other       Totals

Rental income                                 $  824          $ --        $ 824
Other income                                      16             3           19
Interest expense                                 376            --          376
Depreciation                                     237            --          237
General and administrative expense                --            63           63
Segment loss                                    (234)          (60)        (294)


  Nine Months Ended September 30, 2000      Commercial      Other       Totals

Rental income                                $ 2,565         $ --       $ 2,565
Other income                                      37            24           61
Interest expense                               1,102            --        1,102
Depreciation                                     711            --          711
General and administrative expense                --           143          143
Segment loss                                    (578)         (119)        (697)
Total assets                                   9,048           113        9,161
Capital expenditures for investment
  property                                        69            --           69


  Three Months Ended September 30, 1999     Commercial       Other       Totals

Rental income                                 $  887          $ --        $ 887
Other income                                      11             55          66
Interest expense                                 373             --         373
Depreciation                                     235             --         235
General and administrative expense                --             75          75
Segment loss                                    (144)           (20)       (164)


  Nine Months Ended September 30, 1999      Commercial       Other       Totals

Rental income                                $ 2,853         $ --       $ 2,853
Other income                                      69            114         183
Interest expense                               1,121             --       1,121
Depreciation                                     766             --         766
General and administrative expense                --            162         162
Gain on sale of property                       3,565             --       3,565
Segment profit (loss)                          2,952            (48)      2,904
Total assets                                  10,037          1,089      11,126
Capital expenditures for investment
  property                                         8             --           8


Note G - 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  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. ("Insignia") 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  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 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 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 is considering  applications  for lead counsel and has
currently  scheduled a hearing on the matter for November 20, 2000.  The 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 OPERATION

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
discussions 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 property consists of one commercial property.  The
following  table sets forth the average  occupancy  of the property for the nine
months ended September 30, 2000 and 1999:

                                         Average Occupancy
Property                                 2000        1999

Factory Merchants Mall                    90%         91%
   Pigeon Forge, Tennessee

Results from Operations

The  Partnership  realized  a net loss of  approximately  $697,000  for the nine
months  ended  September  30, 2000 as compared to a net income of  approximately
$2,904,000 for the comparable  period in 1999.  The  Partnership  realized a net
loss of approximately $294,000 for the three months ended September 30, 2000, as
compared to a net loss of  approximately  $164,000 for the comparable  period in
1999.  The increase in net loss for the nine months ended  September 30, 2000 is
primarily  due  to  the  gain  recognized  on  the  sale  of  Eastgate  Mall  of
approximately  $3,565,000 in 1999.  Excluding Eastgate Mall's operations,  total
expenses  and  total   revenues   decreased  at  Factory   Merchant   Mall,  the
Partnership's remaining investment property, for the three and nine months ended
September 30, 2000.

The decrease in total  expenses is primarily due to decreases in operating,  bad
debt, general and administrative,  and property tax expenses. Operating expenses
decreased  primarily due to a decrease in hazard  insurance and management fees,
which are based on the collection of cash based on rents partially  offset by an
increase in contract security at the property. Bad debt expense decreased due to
write-offs  from tenants that have vacated without paying all of their expenses.
General and administrative  expenses have decreased  primarily due to a decrease
in  reimbursements  to the General  Partner.  Property tax expense has decreased
primarily due to a decrease in the assessed value for Factory Merchants Mall.

Total revenues for Factory Merchants Mall decreased  primarily due to a decrease
in other  income.  Other  income  decreased  primarily  due to a decrease in the
average cash balance  held in interest  bearing  accounts and a decrease in late
charges  collected.  Rental income  decreased due to several tenants  converting
over to a  percentage  rent on their sales which is less than in previous  years
due to the competition among retailers in the area.

Included  in general  and  administrative  expenses  for the nine  months  ended
September 30, 2000 and 1999, are  reimbursements  to the General Partner allowed
under  the  Partnership   Agreement   associated  with  its  management  of  the
Partnership.  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.

On June  16,  1999,  the  Partnership  sold  Eastgate  Mall to  Pearce-Woodfield
Development  Co.,  LLC, an unrelated  party,  for net proceeds of  approximately
$4,588,000 after payment of closing costs. The Partnership  recognized a gain of
approximately $3,565,000 on the sale during the second quarter of 1999.

As part of the ongoing  business plan of the  Partnership,  the General  Partner
monitors the rental market environment of its investment  property 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
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 General Partner will
be able to sustain such a plan.

Liquidity and Capital Resources

At  September  30,  2000,  the  Partnership  had cash and  cash  equivalents  of
approximately $250,000 as compared to approximately  $1,376,000 at September 30,
1999. For the nine months ended  September 30, 2000,  cash and cash  equivalents
decreased  approximately $920,000 from the Partnership's year ended December 31,
1999.  This  decrease  in cash  and  cash  equivalents  is due to  approximately
$1,104,000 of cash used in financing  activities and  approximately  $272,000 of
cash used in investing activities partially offset by approximately  $456,000 of
cash  provided  by  operating  activities.  Cash  used in  financing  activities
consists of a distribution to the partners and, to a lesser extent,  payments of
principal made on the mortgage encumbering Factory Merchants Mall. The cash used
in  investing   activities  consists  of  net  deposits  to  restricted  escrows
maintained  by the  mortgage  lender,  as  well  as  property  improvements  and
replacements and lease commissions.  The Partnership invests its working capital
reserves in a money market account.

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 property to adequately maintain the physical asset
and other operating  needs of the Registrant and to comply with Federal,  state,
and local legal and regulatory  requirements.  Capital  improvements planned for
the Partnership's property are detailed below.

Factory Merchants Mall

During the nine months  ended  September  30,  2000,  the  Partnership  expended
approximately   $69,000   for   capital   improvements   consisting   of  tenant
improvements,   curbs,   sidewalk  and  parking  lot   improvements,   and  roof
replacement.  These  improvements  were  funded  from  operating  cash  flow and
replacement reserves.  Capital improvements budgeted for 2000 are expected to be
$138,000,  which include, but are not limited to, tenant  improvements,  parking
lot improvements,  roof replacement, and curbs and sidewalk improvements. As the
property is currently being marketed for sale, capital improvements will be made
only as needed.

The  Registrant's  current assets are thought to be sufficient for any near-term
needs  (exclusive  of capital  improvements)  of the  Registrant.  The  mortgage
indebtedness of approximately  $14,710,000  matures in October 2006. The General
Partner  will attempt to refinance  such  indebtedness  and/or sell the property
prior to such maturity date.  Although the property is currently  being marketed
for sale,  there is no guarantee when, or if, a buyer and the  Partnership  will
agree to terms that are mutually  acceptable to complete a sale transaction.  If
the  property  cannot  be  refinanced  or  sold  for a  sufficient  amount,  the
Registrant will risk losing such property through foreclosure.

During the nine months ended  September 30, 2000,  the  Partnership  paid a cash
distribution from operations of approximately  $950,000,  of which approximately
$931,000 ($7.08 per limited  partnership unit) was paid to the limited partners.
Subsequent to September 30, 2000, the Partnership  declared a distribution  from
operations of approximately  $89,000 of which  approximately  $87,000 ($0.66 per
limited partnership unit) is allocable to the limited partners.  During the nine
months ended  September  30, 1999,  the  Partnership  distributed  approximately
$6,700,000 (approximately $6,566,000 to the limited partners, $49.90 per limited
partnership  unit)  to the  partners.  Approximately  $2,112,000  (approximately
$2,070,000 to the limited partners,  $15.73 per limited partnership unit) of the
distribution  was from operations and  approximately  $4,588,000  (approximately
$4,496,000 to the limited  partners,  $34.17 per limited  partnership  unit) was
from the sale of  Eastgate  Mall in June  1999.  The  Registrant's  distribution
policy is reviewed on a quarterly basis.  Future cash  distributions will depend
on the levels of net cash generated from  operations,  the  availability of cash
reserves, and the timing of the debt maturity, refinancing and/or property sale.
There can be no assurance, however, that the Registrant will generate sufficient
funds from operations after required capital  expenditures to permit  additional
distributions  to its  partners  during  the  remainder  of 2000  or  subsequent
periods.


<PAGE>


                           PART II - OTHER INFORMATION


ITEM 1.     LEGAL PROCEDINGS

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  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. ("Insignia") 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  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 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 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 is considering  applications  for lead counsel and has
currently  scheduled a hearing on the matter for November 20, 2000.  The 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:

                  None filed during the quarter ended September 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 INCOME PROPERTIES, LTD. IV


                                    By:   Angeles Realty Corporation II
                                          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: