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UNITED STATES SECURITIES AND
    EXCHANGE COMMISSION
 Washington, 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
    March 31, 2009ORo

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
  (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

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




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DEL TACO INCOME PROPERTIES IV
 PAGE NUMBERPART I. FINANCIAL INFORMATIONItem 1. Financial StatementsCondensed Balance Sheets at March 31, 2009 (Unaudited) and
December 31, 2008
    
    
    3Condensed Statements of Income for the three months ended
March 31, 2009 and 2008 (Unaudited)
    
    
    4Condensed Statements of Cash Flows for the three months ended
March 31, 2009 and 2008 (Unaudited)
    
    
    5Notes to Condensed Financial Statements (Unaudited)
    
    
    6Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    8Item 3. Quantitative and Qualitative Disclosures About Market Risk
    
    
    10Item 4T. Controls and Procedures
    
    
    10PART II. OTHER INFORMATIONItem 6. Exhibits
    
    
    11SIGNATURE
    
    
    12EX-31.1EX-31.2EX-32.1
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PART I. FINANCIAL INFORMATION
 
 ITEM I. FINANCIAL STATEMENTS
 DEL TACO INCOME PROPERTIES IV
 
 CONDENSED BALANCE SHEETS
 March 31,
    
    
    December 31,2009
    
    
    2008(Unaudited)ASSETSCURRENT ASSETS:Cash
    
    $
    109,278
    
    
    $
    120,448Receivable from Del Taco LLC
    
    
    38,414
    
    
    
    37,461Deposits
    
    
    579
    
    
    
    608Total current assets
    
    
    148,271
    
    
    
    158,517PROPERTY 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
    
    
    1,540,121
    
    
    
    1,526,3041,471,228
    
    
    
    1,485,045$
    1,619,499
    
    
    $
    1,643,562LIABILITIES AND PARTNERS EQUITYCURRENT LIABILITIES:Payable to limited partners
    
    $
    14,018
    
    
    $
    13,898Accounts payable
    
    
    29,761
    
    
    
    10,540Total current liabilities
    
    
    43,779
    
    
    
    24,438OBLIGATION TO GENERAL PARTNER
    
    
    137,953
    
    
    
    137,953PARTNERS EQUITY:Limited partners; 165,375 units outstanding at March 31, 2009
and December 31, 2008
    
    
    1,454,524
    
    
    
    1,497,493General partner-Del Taco LLC
    
    
    (16,757
    )
    
    
    (16,322
    )1,437,767
    
    
    
    1,481,171$
    1,619,499
    
    
    $
    1,643,562
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DEL TACO INCOME PROPERTIES IV
 
 CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months EndedMarch 31,2009
    
    
    2008RENTAL REVENUES
    
    $
    106,120
    
    
    $
    105,815EXPENSES:General and administrative
    
    
    34,241
    
    
    
    37,737Depreciation
    
    
    13,817
    
    
    
    13,81748,058
    
    
    
    51,554Operating income
    
    
    58,062
    
    
    
    54,261OTHER INCOME:Interest
    
    
    35
    
    
    
    266Other
    
    
    50
    
    
    
    175Net income
    
    $
    58,147
    
    
    $
    54,702Net income per limited
partnership unit (Note 2)
    
    $
    0.35
    
    
    $
    0.33Number of units used in computing per unit amounts
    
    
    165,375
    
    
    
    165,375
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DEL TACO INCOME PROPERTIES IV
 
 CONDENSED STATEMENTS OF CASH FLOWS
 (Unaudited)
 Three Months EndedMarch 31,2009
    
    
    2008CASH FLOWS FROM OPERATING ACTIVITIES:Net income
    
    $
    58,147
    
    
    $
    54,702Adjustments to reconcile net income to net
cash provided by operating activities:Depreciation
    
    
    13,817
    
    
    
    13,817Changes in operating assets and liabilities:Receivable from Del Taco LLC
    
    
    (953
    )
    
    
    (1,283
    )Deposits
    
    
    29
    
    
    
    (142
    )Payable to limited partners
    
    
    120
    
    
    
    56Accounts payable
    
    
    19,221
    
    
    
    8,668Net cash provided by operating activities
    
    
    90,381
    
    
    
    75,818CASH FLOWS FROM FINANCING ACTIVITIES:Cash distributions to partners
    
    
    (101,551
    )
    
    
    (98,419
    )Net decrease in cash
    
    
    (11,170
    )
    
    
    (22,601
    )Beginning cash balance
    
    
    120,448
    
    
    
    115,922Ending cash balance
    
    $
    109,278
    
    
    $
    93,321
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DEL TACO INCOME PROPERTIES IV
 
 NOTES TO CONDENSED FINANCIAL STATEMENTS
 MARCH 31, 2009
 UNAUDITED
 NOTE 1  BASIS OF PRESENTATION
  NOTE 2  NET INCOME PER LIMITED PARTNERSHIP UNIT
   NOTE 3  LEASING ACTIVITIES
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DEL TACO INCOME PROPERTIES IV
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 MARCH 31, 2009
 UNAUDITED
 NOTE 4  TRANSACTIONS WITH DEL TACO
    NOTE 5  DISTRIBUTIONS
   NOTE 6  PAYABLE TO LIMITED PARTNERS
  NOTE 7  CONCENTRATION OF RISK
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Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
 Liquidity and Capital Resources
   Results of Operations
   Three Months EndedMarch 31,2009
    
    
    2008Orangethorpe Ave., Placentia, CA
    
    $
    45,060
    
    
    $
    46,105Lakeshore Drive, Lake Elsinore, CA
    
    
    35,886
    
    
    
    36,591Highland Ave., San Bernardino, CA
    
    
    25,174
    
    
    
    23,119Total
    
    $
    106,120
    
    
    $
    105,815
   -8-




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Item 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations  continued
  Percentage of TotalGeneral & Administrative ExpenseThree Months EndedMarch 31,2009
    
    2008Accounting fees
    
    
    84.72
    %
    
    
    85.39
    %Distribution of information
to limited partners
    
    
    15.28
    
    
    
    14.61100.00
    %
    
    
    100.00
    %
   Significant Recent Accounting Pronouncements
  Off-Balance Sheet Arrangements
  Critical Accounting Policies and Estimates
  Revenue Recognition
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Item 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations  continued
 Property and Equipment:
  
 Item 3. Quantitative and Qualitative Disclosures About Market Risk.
  
 Item 4T. Controls and Procedures
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PART II. OTHER INFORMATION
  
  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
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SIGNATURE
  
 
 Date: May 15, 2009

    /s/ Steven L. BrakeSteven L. BrakeTreasurer -12-