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, 1997    

                                    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

<TABLE>
CSA INCOME FUND IV LIMITED PARTNERSHIP
STATEMENTS OF FINANCIAL POSITION AS OF JUNE 30, 1997 (UNAUDITED) AND
DECEMBER 31, 1996

<CAPTION>
                                  (Unaudited)
                                  June 30,               December 31,
                                  1997                   1996
<S>                               <C>                     <C>
Assets

Cash and cash equivalents         $    763,616       $  1,187,208
Rentals receivable                   1,012,036            872,371
Value added tax deposits                80,527             80,511
Accounts receivable - affiliates        99,198            416,589
Remarketing receivable                   5,752            153,817

Rental equipment, at cost           51,878,542         59,434,351
Less accumulated depreciation      (28,418,521)       (36,646,360)
  Net rental equipment              23,460,021         22,787,991


   Total assets                   $ 25,421,150       $ 25,498,487

Liabilities and partners' capital

Accrued management fees           $    138,679       $     54,316
Accrued interest expense                61,605             69,655
Accounts payable                        29,942             28,701
Accounts payable - affiliates                -          1,032,127
Deferred income                         60,751             74,545
Notes payable                        8,818,204          7,573,033
Limited recourse notes payable         230,605            228,562
   Total liabilities                 9,339,786          9,060,939

Partners' capital:
General Partner:
 Capital contribution                    1,000              1,000
 Cumulative net income (loss)            1,706            (15,208)
 Cumulative cash distributions        (308,062)          (287,587)
                                      (305,356)          (301,795)
Limited Partners (506,776 units):
 Capital contributions,
  net of offering costs             46,201,039         46,201,039
 Cumulative net income (loss)          168,810         (1,505,671)
 Cumulative cash distributions     (29,983,129)       (27,956,025)
                                    16,386,720         16,739,343
Total partners' capital             16,081,364         16,437,548

   Total liabilities and
    partners' capital             $ 25,421,150       $ 25,498,487
</TABLE>

<PAGE>
<TABLE>
CSA INCOME FUND IV LIMITED PARTNERSHIP
STATEMENTS OF OPERATIONS (UNAUDITED) FOR THE THREE AND SIX MONTH
PERIODS ENDED JUNE 30, 1997 AND 1996

<CAPTION>
                               Three Months               Six Months
                                 June 30,                   June 30,
                            1997          1996        1997        1996
<S>                         <C>           <C>         <C>         <C>
Revenues:
  Rental income       $ 2,620,603 $ 5,649,629 $ 5,535,905  $10,060,502
  Interest income          12,637       8,093      73,028       56,958
  Gain on sale
   of equipment            67,534      43,228     431,682      341,902
  Net gain (loss) on
   foreign currency        10,521      (7,676)     18,895       (5,639)
    Total revenues      2,711,295   5,693,274   6,059,510   10,453,723


Costs and expenses:
  Depreciation and
   amortization         1,303,200   4,448,005   3,367,966    7,904,799
  Interest                154,154     252,963     274,326      571,998
  Management fees         289,916     423,892     590,613      735,927
  General and
   administrative          63,298      53,436     135,210      140,787
     Total expenses     1,810,568   5,178,296   4,368,115    9,353,511

Net income            $   900,727  $  514,978 $ 1,691,395  $ 1,100,212

Net income allocation:
  General Partner     $     9,007  $    5,150 $    16,914  $    11,002
  Limited Partners        891,720     509,828   1,674,481    1,089,210
                      $   900,727  $  514,978 $ 1,691,395  $ 1,100,212


Net income per 
  Limited Partnership 
  Unit                $      1.76  $     1.01 $      3.30  $      2.15

Number of Limited   
  Partnership Units       506,776     506,776     506,776      506,776

</TABLE>

<PAGE>
<TABLE>
CSA INCOME FUND IV LIMITED PARTNERSHIP
STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE THREE AND SIX MONTH
PERIODS ENDED JUNE 30, 1997 AND 1996

<CAPTION>
                           Three Months Ended       Six Months Ended
                                June 30,                 June 30,
                          1997         1996          1997       1996
<S>                        <C>          <C>           <C>       <C>
Cash flows from 
 operations:
  Cash received from
   rental of
   equipment          $ 2,785,362 $ 4,475,271 $ 5,429,479  $ 8,775,500
  Cash paid for
   operating and
   management expenses   (300,847)   (377,184)   (640,219)    (787,338)
  Interest paid          (162,204)   (209,766)   (282,376)    (494,906)
  Interest received        12,637       8,093      73,028       56,958
   Net cash from
    operations          2,334,948   3,896,414   4,579,912    7,550,214

Cash flow from investments:
  Value added tax           1,967         243         (16)      9,019
  Purchase of equipment(4,539,068) (5,570,090) (5,543,794)(10,682,964)
  Sale of equipment       223,689     233,806   2,076,134     841,141
Net cash from (used
for) investments       (4,313,412) (5,336,041) (3,467,676) (9,832,804)

Cash flows from financing:
  Change in amounts due
   to/from affiliates     663,539   1,883,289    (735,463)  1,571,023
  Accounts payable
   equipment purchase           -     389,155           -     341,792
  Proceeds from notes
   payable              3,581,186   3,274,476   4,148,044   3,274,476
  Repayment of notes
   payable             (1,062,180) (2,944,123) (2,900,830) (5,871,521)
  Payment of cash
   distributions       (1,023,789) (1,023,791) (2,047,579) (2,047,580)
Net cash from (used
for) financing          2,158,756   1,579,006  (1,535,828) (2,731,810)

Net change in cash and
  cash equivalents        180,292     139,379    (423,592) (5,014,400)
Cash and cash equivalents
  at beginning of period  583,324   1,641,268   1,187,208   6,795,047
Cash and cash equivalents
  at end of period    $   763,616 $ 1,780,647  $  763,616 $ 1,780,647
</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 the December 31, 1996 Balance Sheet
information.  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 31,1996.

In the General Partner's opinion, the unaudited financial statements
reflect all adjustments necessary to present fairly the financial
position of CSA Income Fund IV Limited Partnership as of June 30, 1997
and 1996 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 revenue was $2,620,603 and $5,649,629 and net income was
$900,727 and $514,978 for the quarters ended June 30, 1997 and 1996,
respectively.  For the six months ended June 30, 1997 and 1996, rental
income was $5,535,905 and $10,060,502, and net income was $1,691,395
and $1,100,212, respectively.  The rental income decrease was primarily
due to the expiration of a major portion of the TIC Leasing Corp.
portfolio acquired from Turner Broadcasting System Inc.  Rental income
revenue also does not reflect addition investment in European Sales
Agency Agreements, the accounting for which provides neither rental
revenue nor debt service requirements for the transactions even though
the Partnership is the beneficial owner of the equipments' residual
value.  The decrease in rental income revenue was more than offset by
lower levels of depreciation due to accelerated methods of depreciation
for certain equipment in prior years and the remarketing of fully
depreciation equipment.

The Partnership generated $6,656,046 from operations and sales of 
equipment during the six months ended June 30, 1997. During this
period, the Partnership used these funds, funds received from debt
financings and cash on hand to acquire additional equipment of 
$5,543,794, make payments on notes payable of $2,900,830 and make
distributions to partners of $2,047,579.

The Partnership paid distributions of $.67 per Limited Partnership unit
on the 15th of April, May, and June 1997.  To date, the Partnership has
made cash distributions to the Limited Partners ranging from 47% to 69%
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, on a periodic basis, reviews the Partnership's projected
performance. Based on an analysis of the remaining assets in the
Partnership's portfolio, 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>
CSA INCOME FUND IV LIMITED PARTNERSHIP
PART II

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 this quarter.

<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 and
                                          Principal Executive Officer





Date:
                                          /s/ Richard P. Timmons 
                                          Controller     
                                          Principal Accounting and   
                                          Finance Officer

 



 

 


	Form 10-Q - Page 8