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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 June 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
  (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




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DEL TACO INCOME PROPERTIES IV
 PAGE NUMBERPART I. FINANCIAL INFORMATIONItem 1. Financial StatementsCondensed Balance Sheets at June 30, 2010 (Unaudited) and
December 31, 2009
    
    
    3Condensed Statements of Income for the three and six months ended
June 30, 2010 and 2009 (Unaudited)
    
    
    4Condensed Statements of Cash Flows for the six months ended
June 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-




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PART I. FINANCIAL INFORMATION
 
 ITEM I. FINANCIAL STATEMENTS
 DEL TACO INCOME PROPERTIES IV
 
 CONDENSED BALANCE SHEETS
 June 30,
    
    
    December 31,2010
    
    
    2009(Unaudited)ASSETSCURRENT ASSETS:Cash
    
    $
    112,024
    
    
    $
    112,034Receivable from Del Taco LLC
    
    
    34,673
    
    
    
    35,686Deposits
    
    
    625
    
    
    
    677Total current assets
    
    
    147,322
    
    
    
    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
    
    
    1,600,611
    
    
    
    1,581,5721,410,738
    
    
    
    1,429,777$
    1,558,060
    
    
    $
    1,578,174LIABILITIES AND PARTNERS EQUITYCURRENT LIABILITIES:Payable to limited partners
    
    $
    17,199
    
    
    $
    15,832Accounts payable
    
    
    7,840
    
    
    
    10,830Total current liabilities
    
    
    25,039
    
    
    
    26,662OBLIGATION TO GENERAL PARTNER
    
    
    137,953
    
    
    
    137,953PARTNERS EQUITY:Limited partners; 165,375 units outstanding at June 30, 2010
and December 31, 2009
    
    
    1,412,251
    
    
    
    1,430,557General partner-Del Taco LLC
    
    
    (17,183
    )
    
    
    (16,998
    )1,395,068
    
    
    
    1,413,559$
    1,558,060
    
    
    $
    1,578,174
  -3-




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DEL TACO INCOME PROPERTIES IV
 
 CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009RENTAL REVENUES
    
    $
    102,420
    
    
    $
    111,467
    
    
    $
    202,166
    
    
    $
    217,587EXPENSES:General and administrative
    
    
    7,667
    
    
    
    9,028
    
    
    
    41,411
    
    
    
    43,270Depreciation
    
    
    9,213
    
    
    
    13,817
    
    
    
    19,039
    
    
    
    27,63416,880
    
    
    
    22,845
    
    
    
    60,450
    
    
    
    70,904Operating income
    
    
    85,540
    
    
    
    88,622
    
    
    
    141,716
    
    
    
    146,683OTHER INCOME:Interest
    
    
    20
    
    
    
    25
    
    
    
    46
    
    
    
    61Other
    
    
    150
    
    
    
    150
    
    
    
    225
    
    
    
    200Net income
    
    $
    85,710
    
    
    $
    88,797
    
    
    $
    141,987
    
    
    $
    146,944Net income per limited
partnership unit (note 2)
    
    $
    0.51
    
    
    $
    0.53
    
    
    $
    0.85
    
    
    $
    0.88Number of units used in computing
per unit amounts
    
    
    165,375
    
    
    
    165,375
    
    
    
    165,375
    
    
    
    165,375
  -4-




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DEL TACO INCOME PROPERTIES IV
 
 CONDENSED STATEMENTS OF CASH FLOWS
 (Unaudited)
 Six Months EndedJune 30,2010
    
    
    2009CASH FLOWS FROM OPERATING ACTIVITIES:Net income
    
    $
    141,987
    
    
    $
    146,944Adjustments to reconcile net income to net
cash provided by operating activities:Depreciation
    
    
    19,039
    
    
    
    27,634Changes in operating assets and liabilities:Receivable from Del Taco LLC
    
    
    1,013
    
    
    
    812Deposits
    
    
    52
    
    
    
    56Payable to limited partners
    
    
    1,367
    
    
    
    538Accounts payable
    
    
    (2,990
    )
    
    
    (1,438
    )Net cash provided by operating activities
    
    
    160,468
    
    
    
    174,546CASH FLOWS FROM FINANCING ACTIVITIES:Cash distributions to partners
    
    
    (160,478
    )
    
    
    (191,810
    )Net change in cash
    
    
    (10
    )
    
    
    (17,264
    )Beginning cash balance
    
    
    112,034
    
    
    
    120,448Ending cash balance
    
    $
    112,024
    
    
    $
    103,184
  -5-




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




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




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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
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Orangethorpe Ave., Placentia, CA
    
    $
    45,446
    
    
    $
    47,229
    
    
    $
    89,607
    
    
    $
    92,289Lakeshore Drive, Lake Elsinore, CA
    
    
    36,744
    
    
    
    39,008
    
    
    
    71,777
    
    
    
    74,894Highland Ave., San Bernardino, CA
    
    
    20,230
    
    
    
    25,230
    
    
    
    40,782
    
    
    
    50,404Total
    
    $
    102,420
    
    
    $
    111,467
    
    
    $
    202,166
    
    
    $
    217,587
  -9-




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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
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Accounting fees
    
    
    58.18
    %
    
    
    63.02
    %
    
    
    79.71
    %
    
    
    81.25
    %Distribution of information
to limited partners
    
    
    41.82
    %
    
    
    36.98
    %
    
    
    20.29
    %
    
    
    18.75
    %100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
   Recent Accounting Pronouncements
  Off-Balance Sheet Arrangements
  -10-




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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-




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




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PART II. OTHER INFORMATION
  
  (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-




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SIGNATURE
  DEL TACO INCOME PROPERTIES IV
(a California limited partnership)
Registrant
Del Taco LLC
General PartnerDate:  August 16, 2010
    /s/ Steven L. BrakeSteven L. BrakeChief Financial Officer -14-




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EXHIBIT INDEX
 Exhibit No.
    
    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-