FORM 10-Q   
   
                    SECURITIES AND EXCHANGE COMMISSION   
                         Washington, D.C. 20549   
   
   
   (X)  QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE    
           SECURITIES EXCHANGE ACT OF 1934   
   
For the quarterly period ended       June 30, 1998       
   
                                OR   
   
( )  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE   
         SECURITIES EXCHANGE ACT OF 1934   
   
For the transition period from __________ to __________   
   
   
Commission file number 33-32744   
   
                CSA Income Fund IV Limited Partnership   
        (Exact name of registrant as specified in its charter)   
   
   
          Massachusetts                           04-3072449   
(State or other jurisdiction of               (I.R.S. Employer   
 incorporation or organization)              Identification No.)   
   
   
22 Batterymarch St. Boston, Massachusetts                  02109   
(Address of principal executive offices)            (Zip Code)   
   
   
                         (617) 357-1700   
        (Registrant's telephone number, including area code)   
   
        Former name, former address and former fiscal year,   
               if changed since last report   
   
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 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:   
   
  
<PAGE>   
 
                          PART I - FINANCIAL INFORMATION   
                      CSA INCOME FUND IV LIMITED PARTNERSHIP   
                      STATEMENTS OF FINANCIAL POSITION AS OF 
<TABLE>
<CAPTION>
   
                                  (Unaudited)   
                                    June 30,                  December 31,   
                                      1998                       1997
<S>                                    <C>                        <C> 
Assets   
   
Cash and cash equivalents         $    563,267              $  1,746,766   
Rentals receivable                     512,703                   559,640   
Value added tax receivable                   -                     3,028   
Accounts receivable - affiliates     1,408,107                   292,804   
Other receivable                             -                     9,290   
   
Rental equipment, at cost           61,698,042                59,318,040   
Less accumulated depreciation      (29,249,623)              (25,193,487)   
  Net rental equipment              32,448,419                34,124,553   
   
   Total assets                   $ 34,932,496              $ 36,736,081   
   
Liabilities and partners' capital   
   
Accrued management fees           $    133,332              $    103,996   
Accrued interest expense                42,862                    52,260   
Accounts payable                        19,431                    43,058   
Deferred income                         20,711                    42,889   
Notes payable                       19,161,430                20,923,341   
  
   Total liabilities                19,377,766                21,165,544   
   
Partners' capital:   
General Partner:   
 Capital contribution                    1,000                     1,000   
 Cumulative net income (loss)           27,154                    11,955   
 Cumulative cash distributions        (338,777)                 (323,420)   
                                      (310,623)                 (310,465)   
Limited Partners (506,776 units):   
 Capital contributions,   
  net of offering costs             46,201,039                46,201,039   
 Cumulative net income (loss)        2,688,098                 1,183,419   
 Cumulative cash distributions     (33,023,784)              (31,503,456)   
                                    15,865,353                15,881,002   
 
Total partners' capital             15,554,730                15,570,537   
   
   Total liabilities and   
    partners' capital             $ 34,932,496              $ 36,736,081   
   
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
   
                     CSA INCOME FUND IV LIMITED PARTNERSHIP   
            STATEMENTS OF OPERATIONS (UNAUDITED) FOR THE THREE AND SIX 
                   MONTH PERIODS ENDED JUNE 30, 1998 AND 1997   
   
   
                             Three Months               Six Months   
                               June 30,                   June 30,   
                           1998          1997        1998        1997   
<S>                         <C>           <C>         <C>         <C> 
Revenues:   
  Rental income         $ 3,950,009 $ 2,620,603 $ 7,689,610  $ 5,535,905   
   Interest income           27,155      12,637      40,561       73,028   
   Gain on sale   
    of equipment            616,317      67,534     647,054      431,682   
   Net gain (loss) on   
    foreign currency         (1,010)     10,521      15,443       18,895   
     Total revenues       4,592,471   2,711,295   8,392,668    6,059,510   
   
   
Costs and expenses:   
  Depreciation            2,682,531   1,303,200   5,197,428    3,367,966   
  Interest                  405,984     154,154     832,629      274,326   
  Management fees           361,906     289,916     719,335      590,613   
  General and   
   administrative            67,256      63,298     123,398      135,210   
     Total expenses       3,517,677   1,810,568   6,872,790    4,368,115   
   
Net income              $ 1,074,794  $  900,727 $ 1,519,878  $ 1,691,395   
   
Net income allocation:                                   
  General Partner       $    10,748  $    9,007 $    15,199  $    16,914   
  Limited Partners        1,064,046     891,720   1,504,679    1,674,481   
                        $ 1,074,794  $  900,727 $ 1,519,878  $ 1,691,395   
   
   
Net income per    
 weighted average 
 Limited Partnership  
 Unit                   $      2.10  $     1.76 $      2.97  $      3.30   
   
Number of weighted  
 average Limited  
 Partnership Units          506,776     506,776     506,776      506,776   
</TABLE>
   
<PAGE>   
                  CSA INCOME FUND IV LIMITED PARTNERSHIP   
            STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE THREE  
            AND SIX MONTH PERIODS ENDED JUNE 30, 1998 AND 1997   
<TABLE>
<CAPTION>
   
                         Three Months Ended       Six Months Ended   
                              June 30,                 June 30,   
                          1998       1997          1998       1997   
<S>                        <C>        <C>           <C>        <C> 
Cash flows from    
 operations:   
  Cash received from   
   rental of   
   equipment            $ 3,994,653 $ 2,785,362 $ 7,729,813  $ 5,429,479   
  Cash paid for   
   operating and   
   management expenses     (424,886)   (300,847)   (837,025)    (640,219)   
  Interest paid            (410,744)   (162,204)   (842,027)    (282,376)   
  Interest received          27,155      12,637      40,561       73,028   
   Net cash from   
    operations            3,186,178   2,334,948   6,091,322    4,579,912   
   
Cash flow from investments:   
  Value added tax                 -       1,967           -          (16)   
  Purchase of equipment  (3,392,221) (4,539,068) (4,088,523)  (5,543,794)   
  Sale of equipment       1,109,035     223,689   1,223,573    2,076,134   
   Net cash from (used   
  for) investments       (2,283,186) (4,313,412) (2,864,950)  (3,467,676)   
   
Cash flows from financing:   
  Advances to/from  
   affiliates              (779,289)    663,539  (1,112,275)    (735,463)   
  Proceeds from notes   
   payable                2,664,067   3,581,186   2,985,369    4,148,044   
  Repayment of notes   
   payable               (2,469,121) (1,062,180) (4,747,281)  (2,900,830)   
  Payment of cash   
   distributions           (767,842) (1,023,789) (1,535,684)  (2,047,579)   
    Net cash used   
      for financing      (1,352,185)  2,158,756  (4,409,871)  (1,535,828)   
   
Net change in cash and   
  cash equivalents         (449,193)    180,292  (1,183,499)    (423,592)   
Cash and cash equivalents   
  at beginning of period  1,012,460     583,324   1,746,766    1,187,208   
Cash and cash equivalents   
  at end of period       $  563,267  $  763,616  $  563,267   $  763,616   
</TABLE>
   
<PAGE>   
   
CSA INCOME FUND IV LIMITED PARTNERSHIP   
NOTE TO FINANCIAL STATEMENTS   
   
The quarterly financial statements of the Partnership presented herein    
are without audit except for balance sheet information as of December 31,    
1997. Certain information and footnote disclosures normally included in    
the annual financial statements have been condensed or omitted from the    
accompanying statements.  For such information, reference should be made    
to the financial statements and notes thereto included in the    
Partnership's annual report on Form 10-K for the year ended December 31,    
1997.   
   
In the General Partner's opinion, the unaudited financial statements    
reflect all adjustments, which are of a normal recurring nature, necessary  
to present fairly the financial position of CSA Income Fund IV Limited 
Partnership as of June 30, 1998 and December 31, 1997 and the results of 
operations and cash flows for the periods presented therein.   
   
<PAGE>   
CSA INCOME FUND IV LIMITED PARTNERSHIP   
GENERAL PARTNER'S DISCUSSION OF OPERATIONS   
   
Rental income was $3,950,009 and $2,620,603 and net income was $1,074,794   
and $990,727 for the quarters ended June 30, 1998 and 1997, respectively.    
For the six months ended June 30, 1998 and 1997, rental income was    
$7,689,610 and $5,535,905, and net income was $1,519,878 and $1,691,395.    
The increase in gross rental income was due primarily to the new equipment   
leases added during 1998 and 1997. The increase in net income was primarily   
due to the gain on sale of equipment recorded in the quarter ended June 30,   
1998 of $616,317 as compared to $67,534 for the same period in 1997.   
   
The Partnership generated $7,314,895 from operations and sales of    
equipment during the six months ended June 30, 1998. During this period,    
the Partnership used these funds, funds received from debt financings and    
cash on hand to acquire additional equipment of $4,088,523, make payments    
on notes payable of $4,747,281 and make distributions to partners of    
$1,535,684.   
   
The Partnership paid distributions of $.50 per Limited Partnership unit    
on the 15th of April, May, and June 1998.  To date, the Partnership has    
made cash distributions to the Limited Partners ranging from 53% to 75%    
of their initial investment, depending on when the Limited Partners    
entered the Partnership. The objective of the Partnership is to return    
the Limited Partner's investment through current distributions and    
provide a return on this investment by continued distributions for as    
long as the equipment continues to be leased.
    
Management reviews the Partnership's projected performance on a periodic 
basis. Based on that analysis, the General Partner presently estimates that 
the continued cash distributions will return the entire initial investment 
of the Limited Partners and a return thereon. However, the magnitude of the  
return may be lower than originally anticipated at the inception of the    
Partnership. The General Partner will continue to report on the Limited    
Partners' return of investment with each cash distribution.   
   
<PAGE>
<TABLE>
   
CSA INCOME FUND IV LIMITED PARTNERSHIP   
PART II 
  
<S>        <C>       
Item 1 - Legal Proceedings   
     None   
   
Item 2 - Changes in Securities   
     None   
   
Item 3 - Defaults Upon Senior Securities   
     None   
   
Item 4 - Submission of Matters to a Vote of Security Holders   
     None   
   
Item 5 - Other Information   
     None   
   
Item 6 - Exhibits and Reports on Form 8-K   
   
     (a) Exhibits - Exhibit 27. Financial Data Schedule.   
   
     (b)Reports on Form 8-K - There were no reports filed    
        during the second quarter of 1998.   
   
</TABLE>
   
<PAGE>
   
SIGNATURES   
   
Pursuant to the requirements of the Securities Exchange Act of 1934, the    
registrant has duly caused this report to be signed on its behalf by the    
undersigned, thereunto duly authorized.   
   
   
   
                         CSA Income Fund IV Limited Partnership   
                          Partnership (Registrant)   
                         By its General Partner,   
                          CSA Lease Funds, Inc.   
   
   
   
   
   
   
Date:   
                                          /s/ J. Frank Keohane   
                                          President  
                                          Principal Executive Officer   
   
   
   
   
   
Date:   
                                          /s/ Richard P. Timmons    
                                          Corporate Controller 
                                          Principal Accounting and      
                                          Finance Officer