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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,
    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
  (Exact name of registrant as
    specified in its charter)
  California

33-0241855(State or other jurisdiction
    of

(I.R.S. Employerincorporation or
    organization)

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
  o o
  Rule 12b-2
  Large
    accelerated
    filer o
    Accelerated
    filer o
    Non-accelerated
    filer þ
    Smaller
    reporting
    company o   DOCUMENTS
    INCORPORATED BY REFERENCE
  Form S-11




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DEL TACO INCOME PROPERTIES IV
 PAGE NUMBERPART I. FINANCIAL INFORMATIONItem 1. Financial StatementsCondensed Balance Sheets at March 31, 2010 (Unaudited) and December
31, 2009
    
    
    3Condensed Statements of Income for the three months ended March 31,
2010 and 2009 (Unaudited)
    
    
    4Condensed Statements of Cash Flows for the three months ended March
31, 2010 and 2009 (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
  -2-




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PART I. FINANCIAL INFORMATION
 
 ITEM I. FINANCIAL STATEMENTS
 DEL TACO INCOME PROPERTIES IV
 
 CONDENSED BALANCE SHEETS
 March 31,
    
    
    December 31,2010
    
    
    2009(Unaudited)ASSETSCURRENT ASSETS:Cash
    
    $
    90,117
    
    
    $
    112,034Receivable from Del Taco LLC
    
    
    35,452
    
    
    
    35,686Deposits
    
    
    652
    
    
    
    677Total current assets
    
    
    126,221
    
    
    
    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
    
    
    1,591,398
    
    
    
    1,581,5721,419,951
    
    
    
    1,429,777$
    1,546,172
    
    
    $
    1,578,174LIABILITIES AND PARTNERS EQUITYCURRENT LIABILITIES:Payable to limited partners
    
    $
    15,841
    
    
    $
    15,832Accounts payable
    
    
    13,744
    
    
    
    10,830Total current liabilities
    
    
    29,585
    
    
    
    26,662OBLIGATION TO GENERAL PARTNER
    
    
    137,953
    
    
    
    137,953PARTNERS EQUITY:Limited partners; 165,375 units
outstanding at March 31, 2010 and
December 31, 2009
    
    
    1,395,981
    
    
    
    1,430,557General partner-Del Taco LLC
    
    
    (17,347
    )
    
    
    (16,998
    )1,378,634
    
    
    
    1,413,559$
    1,546,172
    
    
    $
    1,578,174
  -3-




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DEL TACO INCOME PROPERTIES IV
 
 CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months EndedMarch 31,2010
    
    
    2009RENTAL REVENUES
    
    $
    99,746
    
    
    $
    106,120EXPENSES:General and administrative
    
    
    33,744
    
    
    
    34,241Depreciation
    
    
    9,826
    
    
    
    13,81743,570
    
    
    
    48,058Operating income
    
    
    56,176
    
    
    
    58,062OTHER INCOME:Interest
    
    
    26
    
    
    
    35Other
    
    
    75
    
    
    
    50Net income
    
    $
    56,277
    
    
    $
    58,147Net income per limited partnership unit (Note 2)
    
    $
    0.34
    
    
    $
    0.35Number of units used in computing per unit amounts
    
    
    165,375
    
    
    
    165,375
  -4-




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DEL TACO INCOME PROPERTIES IV
 
 CONDENSED STATEMENTS OF CASH FLOWS
 (Unaudited)
 Three Months EndedMarch 31,2010
    
    
    2009CASH FLOWS FROM OPERATING ACTIVITIES:Net income
    
    $
    56,277
    
    
    $
    58,147Adjustments to reconcile net income to net cash
provided by operating activities:Depreciation
    
    
    9,826
    
    
    
    13,817Changes in operating assets and liabilities:Receivable from Del Taco LLC
    
    
    234
    
    
    
    (953
    )Deposits
    
    
    25
    
    
    
    29Payable to limited partners
    
    
    9
    
    
    
    120Accounts payable
    
    
    2,914
    
    
    
    19,221Net cash provided by operating activities
    
    
    69,285
    
    
    
    90,381CASH FLOWS FROM FINANCING ACTIVITIES:Cash distributions to partners
    
    
    (91,202
    )
    
    
    (101,551
    )Net decrease in cash
    
    
    (21,917
    )
    
    
    (11,170
    )Beginning cash balance
    
    
    112,034
    
    
    
    120,448Ending cash balance
    
    $
    90,117
    
    
    $
    109,278
  -5-




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DEL TACO INCOME PROPERTIES IV
 
 NOTES TO CONDENSED FINANCIAL STATEMENTS
 FOR
THE THREE MONTHS ENDED MARCH 31, 2010
 UNAUDITED
 NOTE 1  BASIS OF PRESENTATION
  NOTE 2  NET INCOME PER LIMITED PARTNERSHIP UNIT
   NOTE 3  LEASING ACTIVITIES
   -6-




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DEL TACO INCOME PROPERTIES IV
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 FOR THE THREE MONTHS ENDED MARCH 31, 2010
 UNAUDITED
 NOTE 4  TRANSACTIONS WITH DEL TACO
    NOTE 5  DISTRIBUTIONS
 %
 NOTE 6  PAYABLE TO LIMITED PARTNERS
  NOTE 7  CONCENTRATION OF RISK
   -7-




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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 31,2010
    
    
    2009Orangethorpe Ave., Placentia, CA
    
    $
    44,161
    
    
    $
    45,060Lakeshore Drive, Lake Elsinore, CA
    
    
    35,033
    
    
    
    35,886Highland Ave., San Bernardino, CA
    
    
    20,552
    
    
    
    25,174Total
    
    $
    99,746
    
    
    $
    106,120
   -8-




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Item 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of
Operations  continued
  Percent of TotalGeneral & Administrative ExpenseThree Months EndedMarch 31,2010
    
    2009Accounting fees
    
    
    83.29
    %
    
    
    84.72
    %Distribution of information to limited partners
    
    
    16.71
    
    
    
    15.28100.00
    %
    
    
    100.00
    %
   Significant Recent Accounting Pronouncements
  Off-Balance Sheet Arrangements
  Critical Accounting Policies and Estimates
  Revenue Recognition
 -9-




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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
 (a)
    
    Evaluation of disclosure controls and procedures:
  (b)
    
    Changes in internal controls:
  (c)
    
    Asset-Backed issuers:
  -10-




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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
 -11-




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SIGNATURE
  DEL TACO INCOME PROPERTIES IV
(a California limited partnership)
Registrant
Del Taco LLC
General PartnerDate: May 17, 2010
    /s/ Steven L. BrakeSteven L. BrakeChief Financial Officer -12-




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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
 -13-