##### Table of Contents



UNITED STATES SECURITIES AND
    EXCHANGE COMMISSIONWashington, D.C.
    20549
   Form 10-Q
   (Mark One)þ

QUARTERLY REPORT UNDER SECTION 13 OR 15(d)  OF THE SECURITIES
    EXCHANGE ACT OF 1934For the quarterly period ended
    September 30,
    2010ORo

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)  OF THE
    SECURITIES EXCHANGE ACT OF 1934For the transition period
    from          to    Commission file
    no. 33-13437
   DEL TACO INCOME PROPERTIES
    IV
 (A California limited
    partnership)
 (Exact name of registrant as
    specified in its charter)
   California

33-0241855(State or other jurisdiction
    of
    incorporation or organization)

(I.R.S. Employer
    Identification Number)25521 Commercentre Drive
    Lake Forest, California(Address of principal
    executive offices)

92630(Zip
    Code)    (949) 462-9300
 (Registrants telephone number, including area code)
   þ o
   Regulation S-T o o
   12b-2
   Large
    accelerated
    filer o
    Accelerated
    filer o
    Non-accelerated
    filer þ
    Smaller
    reporting
    company o    Rule 12b-2 o þ
   DOCUMENTS
    INCORPORATED BY REFERENCE
   Form S-11




---



##### 



DEL TACO INCOME PROPERTIES IV
 PAGE NUMBERPART I. FINANCIAL INFORMATIONItem 1. Financial StatementsCondensed Balance Sheets at September 30, 2010 (Unaudited) and
December 31, 2009
    
    
    3Condensed Statements of Income for the three and nine months ended
September 30, 2010 and 2009 (Unaudited)
    
    
    4Condensed Statements of Cash Flows for the nine months ended
September 30, 2010 and 2009 (Unaudited)
    
    
    5Notes to Condensed Financial Statements (Unaudited)
    
    
    6Item 2. Managements Discussion and Analysis of
Financial Condition and Results of Operations
    
    
    9Item 3. Quantitative and Qualitative Disclosures About Market Risk
    
    
    11Item 4T. Controls and Procedures
    
    
    12PART II. OTHER INFORMATIONItem 6. Exhibits
    
    
    13SIGNATURE
    
    
    14EX-31.1EX-31.2EX-32.1
  -2-




---



##### Table of Contents



PART I. FINANCIAL INFORMATION
 
 ITEM I.
    
    FINANCIAL STATEMENTS
 DEL TACO INCOME PROPERTIES IV
 
 CONDENSED BALANCE SHEETS
 September 30,
    
    
    December 31,2010
    
    
    2009(Unaudited)ASSETSCURRENT ASSETS:Cash
    
    $
    123,945
    
    
    $
    112,034Receivable from Del Taco LLC
    
    
    33,959
    
    
    
    35,686Deposits
    
    
    754
    
    
    
    677Total current assets
    
    
    158,658
    
    
    
    148,397PROPERTY AND EQUIPMENT:Land and improvements
    
    
    1,236,700
    
    
    
    1,236,700Buildings and improvements
    
    
    1,289,860
    
    
    
    1,289,860Machinery and equipment
    
    
    484,789
    
    
    
    484,7893,011,349
    
    
    
    3,011,349Lessaccumulated depreciation
    
    
    1,609,824
    
    
    
    1,581,5721,401,525
    
    
    
    1,429,777$
    1,560,183
    
    
    $
    1,578,174LIABILITIES AND PARTNERS EQUITYCURRENT LIABILITIES:Payable to limited partners
    
    $
    16,498
    
    
    $
    15,832Accounts payable
    
    
    14,040
    
    
    
    10,830Total current liabilities
    
    
    30,538
    
    
    
    26,662OBLIGATION TO GENERAL PARTNER
    
    
    137,953
    
    
    
    137,953PARTNERS EQUITY:Limited partners; 165,375 units outstanding at September 30, 2010
and December 31, 2009
    
    
    1,408,908
    
    
    
    1,430,557General partner-Del Taco LLC
    
    
    (17,216
    )
    
    
    (16,998
    )1,391,692
    
    
    
    1,413,559$
    1,560,183
    
    
    $
    1,578,174
  -3-




---



##### Table of Contents



DEL TACO INCOME PROPERTIES IV
 
 CONDENSED STATEMENTS OF INCOME
 (UNAUDITED)
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2010
    
    
    2009
    
    
    2010
    
    
    2009RENTAL REVENUES
    
    $
    105,523
    
    
    $
    109,092
    
    
    $
    307,689
    
    
    $
    326,680EXPENSES:General and administrative
    
    
    9,963
    
    
    
    12,731
    
    
    
    51,374
    
    
    
    56,001Depreciation
    
    
    9,213
    
    
    
    13,817
    
    
    
    28,252
    
    
    
    41,45119,176
    
    
    
    26,548
    
    
    
    79,626
    
    
    
    97,452Operating income
    
    
    86,347
    
    
    
    82,544
    
    
    
    228,063
    
    
    
    229,228OTHER INCOME:Interest
    
    
    27
    
    
    
    24
    
    
    
    73
    
    
    
    85Other
    
    
    75
    
    
    
    125
    
    
    
    300
    
    
    
    325Net income
    
    $
    86,449
    
    
    $
    82,693
    
    
    $
    228,436
    
    
    $
    229,638Net income per limited
partnership unit (note 2)
    
    $
    0.52
    
    
    $
    0.50
    
    
    $
    1.37
    
    
    $
    1.37Number of units used in computing
per unit amounts
    
    
    165,375
    
    
    
    165,375
    
    
    
    165,375
    
    
    
    165,375
  -4-




---



##### Table of Contents



DEL TACO INCOME PROPERTIES IV
 
 CONDENSED STATEMENTS OF CASH FLOWS
 (UNAUDITED)
 Nine Months EndedSeptember 30,2010
    
    
    2009CASH FLOWS FROM OPERATING ACTIVITIES:Net income
    
    $
    228,436
    
    
    $
    229,638Adjustments to reconcile net income to net
cash provided by operating activities:Depreciation
    
    
    28,252
    
    
    
    41,451Changes in operating assets and liabilities:Receivable from Del Taco LLC
    
    
    1,727
    
    
    
    1,559Deposits
    
    
    (77
    )
    
    
    (96
    )Payable to limited partners
    
    
    666
    
    
    
    1,838Accounts payable
    
    
    3,210
    
    
    
    8,442Net cash provided by operating activities
    
    
    262,214
    
    
    
    282,832CASH FLOWS FROM FINANCING ACTIVITIES:Cash distributions to partners
    
    
    (250,303
    )
    
    
    (275,559
    )Net change in cash
    
    
    11,911
    
    
    
    7,273Beginning cash balance
    
    
    112,034
    
    
    
    120,448Ending cash balance
    
    $
    123,945
    
    
    $
    127,721
  -5-




---



##### Table of Contents



DEL TACO INCOME PROPERTIES IV
 
 NOTES TO CONDENSED FINANCIAL STATEMENTS
 FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2010
 UNAUDITED
 NOTE 1  BASIS OF PRESENTATION
  NOTE 2  NET INCOME PER LIMITED PARTNERSHIP UNIT
   NOTE 3  LEASING ACTIVITIES
  -6-




---



##### Table of Contents



DEL TACO INCOME PROPERTIES IV
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2010
 UNAUDITED
 NOTE 3  LEASING ACTIVITIES  continued
   NOTE 4  TRANSACTIONS WITH DEL TACO
    NOTE 5  DISTRIBUTIONS
  -7-




---



##### Table of Contents



DEL TACO INCOME PROPERTIES IV
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2010
 UNAUDITED
 NOTE 6  PAYABLE TO LIMITED PARTNERS
  NOTE 7  CONCENTRATION OF RISK
   -8-




---



##### Table of Contents



Item 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations
 Liquidity and Capital Resources
   Results of Operations
   Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Orangethorpe Ave., Placentia, CA
    
    $
    45,989
    
    
    $
    48,894
    
    
    $
    135,596
    
    
    $
    141,183Lakeshore Drive, Lake Elsinore, CA
    
    
    38,257
    
    
    
    39,098
    
    
    
    110,034
    
    
    
    113,992Highland Ave., San Bernardino, CA
    
    
    21,277
    
    
    
    21,100
    
    
    
    62,059
    
    
    
    71,505Total
    
    $
    105,523
    
    
    $
    109,092
    
    
    $
    307,689
    
    
    $
    326,680
  -9-




---



##### Table of Contents



Item 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations 
continued
  Percent of TotalGeneral & Administrative ExpenseThree Months Ended
    
    Nine Months EndedSeptember 30,
    
    September 30,2010
    
    2009
    
    2010
    
    2009Accounting fees
    
    
    68.22
    %
    
    
    40.61
    %
    
    
    77.48
    %
    
    
    72.01
    %Distribution of information
to limited partners
    
    
    31.78
    %
    
    
    59.39
    %
    
    
    22.52
    %
    
    
    27.99
    %100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
   Recent Accounting Pronouncements
  Off-Balance Sheet Arrangements
  -10-




---



##### Table of Contents



Item 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations 
continued
 Critical Accounting Policies and Estimates
  Revenue Recognition:
 Property and Equipment:
  
 Item 3.
    
    Quantitative and Qualitative Disclosures About Market Risk.
  -11-




---



##### Table of Contents



Item 4T.
    
    Controls and Procedures
 (a)
    
    Evaluation of disclosure controls and procedures:
 As of the end of the period covered by this quarterly report, we carried out an
evaluation, under the supervision and with the participation of the Companys management,
including the Companys Chief Executive Officer and Chief Financial Officer, of the
effectiveness of the design and operation of the Companys disclosure controls and
procedures. Based upon that evaluation, the Chief Executive Officer and Chief Financial
Officer concluded that the Companys disclosure controls and procedures are effective in
timely alerting them to material information relating to the Company required to be
included in the Companys periodic Securities and Exchange Commission filings.
 (b)
    
    Changes in internal controls:
 There were no significant changes in the Companys internal controls over financial
reporting that occurred during our most recent fiscal quarter that materially affected,
or is reasonably likely to materially affect, our internal control over financial
reporting.
 (c)
    
    Asset-backed issuers:
 Not applicable.
 -12-




---



##### Table of Contents



PART II. OTHER INFORMATION
  
 Item 6.
    
    Exhibits
 (a)
    
    Exhibits
 31.1
    
    Paul J. B. Murphy, IIIs Certification pursuant to Section 302 of
the Sarbanes-Oxley Act of 200231.2
    
    Steven L. Brakes Certification pursuant to Section 302 of the
Sarbanes-Oxley Act of 200232.1
    
    Certification pursuant to Subsections (a) and (b) of Section 1350,
Chapter 63 of Title 18, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002
 -13-




---



##### Table of Contents



SIGNATURE
  DEL TACO INCOME PROPERTIES IV
(a California limited partnership)
Registrant
Del Taco LLC
General PartnerDate:  November 15, 2010
    /s/ Steven L. BrakeSteven L. BrakeChief Financial Officer -14-




---



##### Table of Contents



EXHIBIT INDEX
 Exhibit
    
    Description31.1
    
    
    Paul J. B. Murphy, IIIs Certification pursuant to Section 302 of the Sarbanes-Oxley Act of
200231.2
    
    
    Steven L. Brakes Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 200232.1
    
    
    Certification pursuant to Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
 -15-