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       September 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)     
                                 September 30,                 December 31,     
                                      1998                         1997     
<S>                                   <C>                          <C>
Assets     
     
Cash and cash equivalents         $  1,004,377              $  1,746,766     
Rentals receivable                     462,223                   559,640     
Value added tax receivable                   -                     3,028     
Accounts receivable - affiliates       291,867                   292,804     
Other receivable                             -                     9,290     
     
Rental equipment, at cost           63,775,808                59,318,040     
Less accumulated depreciation      (31,959,531)              (25,193,487)     
  Net rental equipment              31,816,277                34,124,553     
     
   Total assets                   $ 33,574,744              $ 36,736,081     
     
Liabilities and partners' capital     
     
Accrued management fees           $    140,024              $    103,996     
Accrued interest expense                37,977                    52,260     
Accounts payable                        20,976                    43,058     
Deferred income                          9,315                    42,889     
Notes payable                       17,987,006                20,923,341     
    
   Total liabilities                18,195,298                21,165,544     
     
Partners' capital:     
General Partner:     
 Capital contribution                    1,000                     1,000     
 Cumulative net income (loss)           33,078                    11,955     
 Cumulative cash distributions        (346,454)                 (323,420)     
                                      (312,376)                 (310,465)     
Limited Partners (506,776 units):     
 Capital contributions,     
  net of offering costs             46,201,039                46,201,039     
 Cumulative net income (loss)        3,274,732                 1,183,419     
 Cumulative cash distributions     (33,783,949)              (31,503,456)     
                                    15,691,822                15,881,002     
   
Total partners' capital             15,379,446                15,570,537     
     
   Total liabilities and     
    partners' capital             $ 33,574,744              $ 36,736,081     
</TABLE>
<PAGE>     
<TABLE>
<CAPTION>
     
                     CSA INCOME FUND IV LIMITED PARTNERSHIP     
            STATEMENTS OF OPERATIONS (UNAUDITED) FOR THE THREE AND NINE   
                   MONTH PERIODS ENDED SEPTEMBER 30, 1998 AND 1997     
     
     
                             Three Months               Nine Months     
                             September 30,              September 30,     
                           1998          1997        1998        1997     
<S>                         <C>           <C>         <C>         <C>
Revenues:
  Rental income         $ 4,103,051 $ 3,297,176 $11,792,661  $ 8,833,081     
   Interest income           17,233      20,104      57,794       93,132     
   Gain on sale     
    of equipment             48,852     219,669     695,906      651,351     
   Net gain (loss) on     
    foreign currency          1,704      (8,767)     17,147       10,128     
     Total revenues       4,170,840   3,528,182  12,563,508    9,587,692     
     
     
Costs and expenses:     
  Depreciation            2,746,065   2,103,465   7,943,493    5,471,431     
  Interest                  404,981     386,758   1,237,610      661,084     
  Management fees           366,692     310,036   1,086,027      900,649     
  General and     
   administrative            60,544      56,732     183,942      191,942     
     Total expenses       3,578,282   2,856,991  10,451,072    7,225,106     
     
Net income              $   592,558  $  671,191 $ 2,112,436  $ 2,362,586     
     
Net income allocation:                                     
  General Partner       $     5,926  $    6,712 $    21,125  $    23,626     
  Limited Partners          586,632     664,479   2,091,311    2,338,960     
                        $   592,558  $  671,191 $ 2,112,436  $ 2,362,586     
     
     
Net income per      
 weighted average   
 Limited Partnership    
 Unit                   $      1.16  $     1.32 $      4.13  $      4.62     
     
Number of weighted    
 average Limited    
 Partnership Units          506,776     506,776     506,776      506,776     
     
</TABLE>
     
<PAGE>
<TABLE>
<CAPTION>
     
     
                  CSA INCOME FUND IV LIMITED PARTNERSHIP     
            STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE THREE    
          AND NINE MONTH PERIODS ENDED SEPTEMBER 30, 1998 AND 1997     
     
                         Three Months Ended        Nine Months Ended     
                            September 30,           September 30,     
                          1998       1997          1998       1997     
<S>                        <C>        <C>           <C>        <C>
Cash flows from      
 operations:     
  Cash received from     
   rental of     
   equipment            $ 4,146,867 $ 3,580,947 $11,876,680  $ 9,010,426     
  Cash paid for     
   operating and     
   management expenses     (418,998)   (347,188) (1,256,023)  (1,014,407)     
  Interest paid            (409,867)   (391,162) (1,251,894)    (673,538)     
  Interest received          17,233      20,104      57,794       93,132     
   Net cash from     
    operations            3,335,235   2,835,701   9,426,557    7,415,613     
     
Cash flow from investments:     
  Value added tax                 -      65,471           -       65,455     
  Purchase of equipment  (2,276,516)(14,578,910) (6,365,039) (20,122,704)     
  Sale of equipment         211,445   2,550,286   1,435,018    4,626,420     
   Net cash from (used     
  for) investments       (2,065,071)(11,963,153) (4,930,021) (15,430,829)     
     
Cash flows from financing:     
  Advances to/from    
   affiliates             1,113,211    (612,605)        937   (1,348,068)     
  Proceeds from notes     
   payable                1,643,355  13,339,433   4,628,724   17,487,477     
  Repayment of notes     
   payable               (2,817,779) (1,821,363) (7,565,060)  (4,722,193)     
  Payment of cash     
   distributions           (767,842)   (767,842) (2,303,527)  (2,815,421)     
    Net cash used     
      for financing        (829,055) 10,137,623  (5,238,926)   8,601,795     
     
Net change in cash and     
  cash equivalents          441,109   1,010,171    (742,390)     586,579     
Cash and cash equivalents     
  at beginning of period    563,267     763,616   1,746,766    1,187,208     
Cash and cash equivalents     
  at end of period       $1,004,376  $1,773,787  $1,004,376   $1,773,787     
     
</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 September 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     
     
Total revenue was $4,170,840 and $3,528,182 and net income was $592,558  
and $671,191 for the quarters ended September 30, 1998 and 1997,  
respectively.  For the nine months ended September 30, 1998 and 1997, total 
revenue was $12,563,508 and $9,587,692, and net income was $2,112,436 and  
$2,362,586. The increase in total revenue was due primarily to the   
new equipment leases added during 1998 and 1997. The decrease in net income  
was primarily due to the recording of $219,699 in gains on sale of equipment
in the quarter ended September 30, 1997 vs $48,852 for the same period
in 1998.     
     
The Partnership generated cash flow of $10,861,575 from operations and sales
of equipment during the nine months ended September 30, 1998. During this   
period, the Partnership used these funds, funds received from debt   
financings and cash on hand to acquire additional equipment of $6,365,039,  
make payments on notes payable of $7,565,060 and make distributions to   
partners of $2,303,527.     
     
The Partnership paid distributions of $.50 per Limited Partnership unit      
on the 15th of July, August, and September 1998.  To date, the Partnership  
has made cash distributions to the Limited Partners ranging from 55% to 77%   
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 and the      
General Partner intends to pursue additional lease investment      
opportunities to increase the Partnership's distributions.     
     
<PAGE>
<TABLE>
<CAPTION>
     
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 - No reports have been filed on Form 8-K     
        during the third 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: 11/13/98     
                                          /s/ J. Frank Keohane     
                                          President    
                                          Principal Executive Officer     
     
     
     
     
     
Date: 11/13/98     
                                          /s/ Richard P. Timmons      
                                          Corporate Controller   
                                          Principal Accounting and        
                                          Finance Officer