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UNITED STATES


SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549


FORM 10-Q


(Mark one)




|  |                                                                                      
|- | -------------------------------------------------------------------------------------
|x | QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934

For the quarterly period ended September 30,
2005.


OR




|  |                                                                                               
|- | ----------------------------------------------------------------------------------------------
|o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 
     SECURITIES EXCHANGE ACT OF 1934

For 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                  |  | 92630                                      
|(Address of principal executive offices)                           |  | (Zip Code)                                 

(949) 462-9300


(Registrants telephone number, including area code)


Indicate by check mark whether
the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 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 o


Indicate by check mark whether the registrant is an
accelerated filer (as defined in Rule 12b-2 of the Exchange
Act).  Yes o No x


Indicate by check mark whether the registrant is a shell
company (as defined in Rule 12b-2 of the Exchange
Act).  Yes o No x










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DEL TACO INCOME PROPERTIES IV
 PAGE NUMBERPART I. FINANCIAL INFORMATIONItem 1. Financial StatementsCondensed Balance Sheets at September 30, 2005 (Unaudited) and December 31, 2004
    
    3Condensed Statements of Income for the three and nine months ended September 30, 2005 and 2004 (Unaudited)
    
    4Condensed Statements of Cash Flows for the nine months ended September 30, 2005 and 2004 (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 4. Controls and Procedures
    
    11PART II. OTHER INFORMATIONItem 6. Exhibits and Reports on Form 8-K
    
    12SIGNATURE
    
    13EXHIBIT 31.1EXHIBIT 31.2EXHIBIT 32.1
  -2-




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DEL TACO INCOME PROPERTIES IV
 
 CONDENSED BALANCE SHEETS
 September 30,
    
    
    December 31,2005
    
    
    2004(Unaudited)ASSETSCURRENT ASSETS:Cash
    
    $
    147,803
    
    
    $
    140,285Receivable from Del Taco, Inc.
    
    
    38,244
    
    
    
    45,765Deposits
    
    
    400
    
    
    
    600Total current assets
    
    
    186,447
    
    
    
    186,650PROPERTY 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
    
    
    1,346,683
    
    
    
    1,305,2321,664,666
    
    
    
    1,706,117$
    1,851,113
    
    
    $
    1,892,767LIABILITIES AND PARTNERS EQUITYCURRENT LIABILITIES:Payable to limited partners
    
    $
    37,123
    
    
    $
    36,913Accounts payable
    
    
    6,322
    
    
    
    10,567Total current liabilities
    
    
    43,445
    
    
    
    47,480OBLIGATION TO GENERAL PARTNER
    
    
    137,953
    
    
    
    137,953PARTNERS EQUITY:Limited partners; 165,375 units outstanding at September 30, 2005
and December 31, 2004
    
    
    1,684,151
    
    
    
    1,721,394General partner-Del Taco, Inc.
    
    
    (14,436
    )
    
    
    (14,060
    )1,669,715
    
    
    
    1,707,334$
    1,851,113
    
    
    $
    1,892,767
  -3-




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DEL TACO INCOME PROPERTIES IV
 
 CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2005
    
    
    2004
    
    
    2005
    
    
    2004RENTAL REVENUES
    
    $
    117,490
    
    
    $
    112,574
    
    
    $
    341,415
    
    
    $
    323,762EXPENSES:General and administrative
    
    
    9,814
    
    
    
    9,441
    
    
    
    53,524
    
    
    
    51,842Depreciation
    
    
    13,817
    
    
    
    13,817
    
    
    
    41,451
    
    
    
    41,45123,631
    
    
    
    23,258
    
    
    
    94,975
    
    
    
    93,293Operating income
    
    
    93,859
    
    
    
    89,316
    
    
    
    246,440
    
    
    
    230,469OTHER INCOME:Interest
    
    
    419
    
    
    
    294
    
    
    
    1,380
    
    
    
    994Other
    
    
    75
    
    
    
    125
    
    
    
    350
    
    
    
    550Net income
    
    $
    94,353
    
    
    $
    89,735
    
    
    $
    248,170
    
    
    $
    232,013Net income per limited
partnership unit (note 2)
    
    $
    0.56
    
    
    $
    0.54
    
    
    $
    1.49
    
    
    $
    1.39Number of units used in computing
per unit amounts
    
    
    165,375
    
    
    
    165,375
    
    
    
    165,375
    
    
    
    165,375
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DEL TACO INCOME PROPERTIES IV
 
 CONDENSED STATEMENTS OF CASH FLOWS
 (Unaudited)
 Nine Months EndedSeptember 30,2005
    
    
    2004CASH FLOWS FROM OPERATING ACTIVITIES:Net income
    
    $
    248,170
    
    
    $
    232,013Adjustments to reconcile net income to net
cash provided by operating activities:Depreciation
    
    
    41,451
    
    
    
    41,451Changes in operating assets and liabilities:Decrease in receivable from Del Taco, Inc.
    
    
    7,521
    
    
    
    49,674Decrease in deposits
    
    
    200
    
    
    
    74(Decrease) increase in accounts payable and
payable to limited partners
    
    
    (4,035
    )
    
    
    9,190Net cash provided by operating activities
    
    
    293,307
    
    
    
    332,402CASH FLOWS FROM FINANCING ACTIVITIES:Cash distributions to partners
    
    
    (285,789
    )
    
    
    (310,023
    )Net increase in cash
    
    
    7,518
    
    
    
    22,379Beginning cash balance
    
    
    140,285
    
    
    
    127,447Ending cash balance
    
    $
    147,803
    
    
    $
    149,826
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DEL TACO INCOME PROPERTIES IV
 
 NOTES TO CONDENSED FINANCIAL STATEMENTS
 SEPTEMBER 30, 2005
 (Unaudited)
 NOTE 1  BASIS OF PRESENTATION
  NOTE 2
 ALLOCATION OF NET INCOME OR LOSS PER LIMITED PARTNERSHIP UNIT
   NOTE 3  LEASING ACTIVITIES
  -6-




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DEL TACO INCOME PROPERTIES IV
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 SEPTEMBER 30, 2005
 (Unaudited)
 NOTE 3  LEASING ACTIVITIES  continued
   NOTE 4  TRANSACTIONS WITH DEL TACO
    NOTE 5  DISTRIBUTIONS
  NOTE 6
 PAYABLE TO LIMITED PARTNERS
  -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 Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2005
    
    
    2004
    
    
    2005
    
    
    2004Orangethorpe Ave., Placentia, CA
    
    $
    45,360
    
    
    $
    43,192
    
    
    $
    131,649
    
    
    $
    125,092Lakeshore Drive, Lake Elsinore, CA
    
    
    47,657
    
    
    
    45,181
    
    
    
    138,088
    
    
    
    130,173Highland Ave., San Bernardino, CA
    
    
    24,473
    
    
    
    24,201
    
    
    
    71,678
    
    
    
    68,497Total
    
    $
    117,490
    
    
    $
    112,574
    
    
    $
    341,415
    
    
    $
    323,762
  -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 Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2005
    
    
    2004
    
    
    2005
    
    
    2004Accounting fees
    
    
    53.70
    %
    
    
    38.19
    %
    
    
    72.83
    %
    
    
    67.14
    %Distribution of information
to Limited Partners
    
    
    46.30
    %
    
    
    61.81
    %
    
    
    27.17
    %
    
    
    32.86
    %100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
   Recent Accounting Pronouncements
  Off-Balance Sheet Arrangements
  -9-




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Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
 continued
 Critical Accounting Policies and Estimates
  Property and Equipment:
  
 Item 3. Quantitative and Qualitative Disclosures About Market Risk.
  -10-




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Item 4. Controls and Procedures
 (a)
    
    Evaluation of disclosure controls and procedures:
  (b)
    
    Changes in internal controls:
  (c)
    
    Asset-Backed issuers:
  -11-




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PART II. OTHER INFORMATION
 
  (a)
    
    Exhibits31.1
    
    
    Kevin K. Moriartys Certification Pursuant to Section 302 of the
Sarbanes-Oxley Act of 200231.2
    
    
    Robert J. Terranos Certification Pursuant to Section 302 of the
Sarbanes-Oxley Act of 200232.1
    
    
    Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002(b)
    
    ReportsNone.
 -12-




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SIGNATURE
  DEL TACO INCOME PROPERTIES IV
(a California limited partnership)
Registrant
Del Taco, Inc.
General PartnerDate:  November 14, 2005
    /s/ Robert J. TerranoRobert J. TerranoExecutive Vice President,
Chief Financial Officer -13-




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EXHIBIT INDEX
 Exhibits
    

Description31.1
    
    Kevin K. Moriartys Certification Pursuant to Section 302 of the
Sarbanes-Oxley Act of 200231.2
    
    Robert J. Terranos Certification Pursuant to Section 302 of the
Sarbanes-Oxley Act of 200232.1
    
    Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002
 -14-