##### Table of Contents



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 June 30, 2007.
  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 þ  No o
  Indicate by check
    mark whether the registrant is a large accelerated filer, an
    accelerated filer, or a non-accelerated filer. See definition of
    accelerated filer and large accelerated filer in
    Rule 12b-2
    of the Exchange Act (check one):
 Large accelerated
    filer o     Accelerated
    filer o     Non-accelerated
    filer þ
  Indicate by check
    mark whether the registrant is a shell company (as defined in
    Rule 12b-2
    of the Exchange
    Act).  Yes o  No þ




---



##### Table of Contents



DEL TACO INCOME PROPERTIES IV
 PAGE NUMBERPART I. FINANCIAL INFORMATIONItem 1. Financial StatementsCondensed Balance Sheets at June 30, 2007 (Unaudited) and
December 31, 2006
    
    
    3Condensed Statements of Income for the three and six months ended
June 30, 2007 and 2006 (Unaudited)
    
    
    4Condensed Statements of Cash Flows for the six months ended
June 30, 2007 and 2006 (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 4. Controls and Procedures
    
    
    12PART II. OTHER INFORMATIONItem 6. Exhibits and Reports
    
    
    13SIGNATURE
    
    
    14EXHIBIT 31.1EXHIBIT 31.2EXHIBIT 32.1
 -2-




---



##### Table of Contents



PART I. FINANCIAL INFORMATION
 
 ITEM I. FINANCIAL STATEMENTS
 DEL TACO INCOME PROPERTIES IV
 
 CONDENSED BALANCE SHEETS
 June 30,
    
    
    December 31,2007
    
    
    2006(Unaudited)ASSETSCURRENT ASSETS:Cash
    
    $
    117,306
    
    
    $
    144,397Receivable from Del Taco LLC
    
    
    37,700
    
    
    
    36,536Deposits
    
    
    551
    
    
    
    615Total current assets
    
    
    155,557
    
    
    
    181,548PROPERTY 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
    
    
    1,443,402
    
    
    
    1,415,7681,567,947
    
    
    
    1,595,581$
    1,723,504
    
    
    $
    1,777,129LIABILITIES AND PARTNERS EQUITYCURRENT LIABILITIES:Payable to limited partners
    
    $
    36,058
    
    
    $
    34,885Accounts payable
    
    
    6,699
    
    
    
    10,571Total current liabilities
    
    
    42,757
    
    
    
    45,456OBLIGATION TO GENERAL PARTNER
    
    
    137,953
    
    
    
    137,953PARTNERS EQUITY:Limited partners; 165,375 units outstanding at June 30, 2007
and December 31, 2006
    
    
    1,558,499
    
    
    
    1,608,916General partnerDel Taco LLC
    
    
    (15,705
    )
    
    
    (15,196
    )1,542,794
    
    
    
    1,593,720$
    1,723,504
    
    
    $
    1,777,129
  -3-




---



##### Table of Contents



DEL TACO INCOME PROPERTIES IV
 
 CONDENSED STATEMENTS OF INCOME
 (UNAUDITED)
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2007
    
    
    2006
    
    
    2007
    
    
    2006RENTAL REVENUES
    
    $
    109,946
    
    
    $
    115,721
    
    
    $
    214,532
    
    
    $
    225,726EXPENSES:General and administrative
    
    
    8,550
    
    
    
    8,554
    
    
    
    45,853
    
    
    
    45,489Depreciation
    
    
    13,817
    
    
    
    13,817
    
    
    
    27,634
    
    
    
    27,63422,367
    
    
    
    22,371
    
    
    
    73,487
    
    
    
    73,123Operating income
    
    
    87,579
    
    
    
    93,350
    
    
    
    141,045
    
    
    
    152,603OTHER INCOME:Interest
    
    
    526
    
    
    
    504
    
    
    
    1,027
    
    
    
    1,057Other
    
    
    25
    
    
    
    100
    
    
    
    125
    
    
    
    300Net income
    
    $
    88,130
    
    
    $
    93,954
    
    
    $
    142,197
    
    
    $
    153,960Net income per limited partnership unit (note 2)
    
    $
    0.53
    
    
    $
    0.56
    
    
    $
    0.85
    
    
    $
    0.92Number 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)
 Six Months EndedJune 30,2007
    
    
    2006CASH FLOWS FROM OPERATING ACTIVITIES:Net income
    
    $
    142,197
    
    
    $
    153,960Adjustments to reconcile net income to net
cash provided by operating activities:Depreciation
    
    
    27,634
    
    
    
    27,634Changes in operating assets and liabilities:Receivable from Del Taco LLC
    
    
    (1,164
    )
    
    
    461Deposits
    
    
    64
    
    
    
    (342
    )Payable to limited partners
    
    
    1,173
    
    
    
    (4,598
    )Accounts payable
    
    
    (3,872
    )
    
    
    2,841Net cash provided by operating activities
    
    
    166,032
    
    
    
    179,956CASH FLOWS FROM FINANCING ACTIVITIES:Cash distributions to partners
    
    
    (193,123
    )
    
    
    (198,791
    )Net decrease in cash
    
    
    (27,091
    )
    
    
    (18,835
    )Beginning cash balance
    
    
    144,397
    
    
    
    150,403Ending cash balance
    
    $
    117,306
    
    
    $
    131,568
  -5-




---



##### Table of Contents



DEL TACO INCOME PROPERTIES IV
 
 NOTES TO CONDENSED FINANCIAL STATEMENTS
 FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2007
 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 SIX MONTHS ENDED JUNE 30, 2007
 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 SIX MONTHS ENDED JUNE 30, 2007
 UNAUDITED
 NOTE 6  PAYABLE TO LIMITED PARTNERS
  NOTE 7  CONCENTRATION OF RISK
  NOTE 8  ACQUISITION OF GENERAL PARTNER
  -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
    
    
    Six Months EndedJune 30,
    
    
    June 30,2007
    
    
    2006
    
    
    2007
    
    
    2006Orangethorpe Ave., Placentia, CA
    
    $
    46,390
    
    
    $
    45,099
    
    
    $
    90,121
    
    
    $
    88,287Lakeshore Drive, Lake Elsinore, CA
    
    
    40,787
    
    
    
    47,253
    
    
    
    79,243
    
    
    
    91,176Highland Ave., San Bernardino, CA
    
    
    22,769
    
    
    
    23,369
    
    
    
    45,168
    
    
    
    46,263Total
    
    $
    109,946
    
    
    $
    115,721
    
    
    $
    214,532
    
    
    $
    225,726
  -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
    
    Six Months EndedJune 30,
    
    June 30,2007
    
    2006
    
    2007
    
    2006Accounting fees
    
    
    66.36
    %
    
    
    61.04
    %
    
    
    81.94
    %
    
    
    77.69
    %Distribution of information
to limited partners
    
    
    33.64
    %
    
    
    38.96
    %
    
    
    18.06
    %
    
    
    22.31
    %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
  Property and Equipment:
  
 Item 3.
    
    Quantitative and Qualitative Disclosures About Market Risk.
  -11-




---



##### Table of Contents



Item 4.
    
    Controls and Procedures
 (a)
    
    Evaluation of disclosure controls and procedures:
  (b)
    
    Changes in internal controls:
  (c)
    
    Asset-Backed issuers:
  -12-




---



##### Table of Contents



PART II. OTHER INFORMATION
  
 Item 6.
    
    Exhibits and Reports
 (a)
    
    Exhibits
 31.1
    
    Shirlene Lopez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
 (b)
    
    Reports
  -13-




---



##### Table of Contents



SIGNATURE
  
 
 Date:  August 13, 2007
    /s/ Steven L. BrakeSteven L. BrakeTreasurer -14-




---



##### Table of Contents



Exhibit No.
    
    Description31.1
    
    Shirlene Lopez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