SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

For the quarterly period ended                    March 31, 1999
                               -------------------------------------------------

                                       OR

[x]  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                                33-80849
                       ---------------------------------------------------------

                      Capital Preferred Yield Fund-IV, L.P.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                Delaware                                 84-1331690
        -----------------------             ------------------------------------
        (State of organization)             (I.R.S. Employer Identification No.)

 7175 West Jefferson Avenue, Suite 4000
         Lakewood, Colorado                               80235
----------------------------------------                ----------
(Address of principal executive offices)                (Zip Code)


        Registrant's telephone number, including area code (303) 980-1000
                                                           --------------

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by  Sections  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   X   No      .
                                       -----    -----

                        Exhibit Index Appears on Page 15

                               Page 1 of 16 Pages


<PAGE>



                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                          Quarterly Report on Form 10-Q
                              For the Quarter Ended
                                 March 31, 1999


                                Table of Contents
                                -----------------



PART I.  FINANCIAL INFORMATION                                             PAGE
                                                                           ----

   Item 1.  Financial Statements (Unaudited)

            Balance Sheets - March 31, 1999 and December 31, 1998            3

            Statements of Income - Three Months Ended
            March 31, 1999 and 1998                                          4

            Statements of Cash Flows - Three Months Ended
            March 31, 1999 and 1998                                          5

            Notes to Financial Statements                                  6 - 8

   Item 2.  Management's Discussion and Analysis of Financial Condition
            and Results of Operations                                     9 - 13


   Item 3.  Quantitative and Qualitative Disclosures About Market Risk      13


PART II. OTHER INFORMATION

   Item 1.  Legal Proceedings                                               14

   Item 6.  Exhibits and Reports on Form 8-K                                14

            Exhibits                                                        15

            Signature                                                       16


                                        2

<PAGE>



                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                 BALANCE SHEETS




                                     ASSETS
                                                        March 31,   December 31,
                                                          1999          1998
                                                       -----------  ------------
                                                       (Unaudited)


Cash and cash equivalents                              $ 2,299,606   $ 2,634,551
Accounts receivable, net                                   647,894       465,374
Receivable from related party                              193,717       216,074
Equipment held for sale or re-lease                        459,491       410,599
Net investment in direct finance leases                  3,834,952     3,810,382
Leased equipment, net                                   44,159,238    47,340,855
                                                       -----------   -----------

Total assets                                           $51,594,898   $54,877,835
                                                       ===========   ===========


                        LIABILITIES AND PARTNERS' CAPITAL

Liabilities:
     Accounts payable and accrued liabilities          $ 1,042,338   $ 1,080,333
     Payables to affiliates                                 78,997        46,652
     Rents received in advance                             561,328       597,415
     Distributions payable to partners                     497,346       497,346
     Discounted lease rentals                           13,274,825    15,708,835
                                                       -----------   -----------

Total liabilities                                       15,454,834    17,930,581
                                                       -----------   -----------

Partners' capital:
     General partner                                             -             -
     Limited partners:
         Class A                                        35,708,001    36,507,167
         Class B                                           432,063       440,087
                                                       -----------   -----------

Total partners' capital                                 36,140,064    36,947,254
                                                       -----------   -----------

Total liabilities and partners' capital                $51,594,898   $54,877,835
                                                       ===========   ===========






   The accompanying notes are an integral part of these financial statements.

                                        3

<PAGE>



                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                              STATEMENTS OF INCOME
                                   (Unaudited)


                                                           Three Months Ended
                                                                March 31,
                                                         -----------------------
                                                           1999          1998
                                                         ----------   ----------

REVENUE:
     Operating lease rentals                             $4,700,453   $4,322,162
     Direct finance lease income                             76,968       88,347
     Equipment sales margin                                  12,571       27,095
     Interest income                                         24,453       64,797
                                                         ----------   ----------
Total revenue                                             4,814,445    4,502,401
                                                         ----------   ----------

EXPENSES:
     Depreciation                                         3,751,074    3,482,767
     Management fees to general partner                     106,437       87,493
     Direct services from general partner                    47,770       26,349
     General and administrative                              55,017       41,169
     Interest on discounted lease rentals                   255,690      318,702
     Provision for losses                                    75,000            -
                                                         ----------   ----------
Total expenses                                            4,290,988    3,956,480
                                                         ----------   ----------

NET INCOME                                               $  523,457   $  545,921
                                                         ==========   ==========

NET INCOME ALLOCATED:
     To the general partner                              $   13,306   $   19,778
     To the Class A limited partners                        505,050      520,820
     To the Class B limited partner                           5,101        5,323
                                                         ----------   ----------
                                                         $  523,457   $  545,921
                                                         ==========   ==========

Net income per weighted average Class A
     limited partner unit outstanding                    $     1.02   $     1.07
                                                         ==========   ==========

Weighted average Class A limited partner
     units outstanding                                      496,844      485,290
                                                         ==========   ==========










   The accompanying notes are an integral part of these financial statements.

                                        4

<PAGE>



                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                                   Three Months Ended
                                                                         March 31,
                                                             -------------------------------
                                                                1999               1998
                                                             -----------         -----------


<S>                                                         <C>                 <C>        
NET CASH PROVIDED BY OPERATING ACTIVITIES                    $ 5,024,516         $ 5,649,234
                                                             -----------         -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchases of equipment on operating leases from
    affiliate                                                 (1,059,008)         (9,522,061)
  Investment in direct finance leases, acquired
    from affiliate                                              (535,796)           (370,226)
                                                             -----------         -----------
Net cash used in investing activities                         (1,594,804)         (9,892,287)
                                                             -----------         -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from Class A capital contributions                          -           4,336,754
  Proceeds from Class B capital contributions                          -              40,000
  Proceeds from discounted lease rentals                               -           3,994,817
  Principal payments on discounted lease rentals              (2,434,010)         (1,976,985)
  Redemptions of Class A limited partner units                         -             (39,662)
  Sales commissions paid to affiliate in connection
    with the sale of Class A limited partner units                     -            (434,326)
  Non-accountable organization and offering expenses
    reimbursed to the general partner in connection
    with the sale of Class A limited partner units                     -            (242,725)
  Distributions to partners                                   (1,330,647)         (1,235,210)
                                                             -----------         -----------

Net cash (used in) provided by financing activities           (3,764,657)          4,442,663
                                                             -----------         -----------

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS            (334,945)            199,610

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD               2,634,551           4,676,747
                                                             -----------         -----------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                   $ 2,299,606         $ 4,876,357
                                                             ===========         ===========

Supplemental disclosure of cash flow information-Interest
    paid on discounted lease rentals                         $   254,528         $   318,702
Supplemental disclosure of noncash investing and
financing activities - Discounted lease rentals
    assumed in equipment acquisitions                                  -             434,310

</TABLE>







   The accompanying notes are an integral part of these financial statements.

                                        5

<PAGE>


                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)



1.   Basis of Presentation
     ---------------------

     The  accompanying  unaudited  financial  statements  have been  prepared in
     accordance  with  generally  accepted  accounting  principles  for  interim
     financial  information and the  instructions to Form 10-Q and Rule 10-01 of
     Regulation S-X. Accordingly, they do not include all of the information and
     disclosures required by generally accepted accounting principles for annual
     financial   statements.   In  the  opinion  of  the  general  partner,  all
     adjustments   (consisting  of  normal  recurring  adjustments)   considered
     necessary for a fair presentation have been included.  The balance sheet at
     December  31,  1998 was  derived  from  the  audited  financial  statements
     included in the  Partnership's  1998 Form 10-K.  For  further  information,
     refer to the financial statements of Capital Preferred Yield Fund-IV,  L.P.
     (the "Partnership"),  and the related notes,  included in the Partnership's
     Annual Report on Form 10-K for the year ended  December 31, 1998 (the "1998
     Form 10-K"), previously filed with the Securities and Exchange Commission.

     RECENTLY ISSUED FINANCIAL ACCOUNTING STANDARDS

     In June 1998, the Financial Accounting Standards Board issued SFAS No. 133,
     Accounting for Derivative  Instruments and Hedging  Activities  ("Statement
     133").  Statement 133  establishes  accounting and reporting  standards for
     derivative  instruments  and for hedging  activities.  It requires  that an
     entity  recognize all  derivatives  as either assets or  liabilities in the
     statement  of  financial  position and measure  those  instruments  at fair
     value. Statement 133 is effective for fiscal years beginning after June 15,
     1999,  with earlier  application  permitted.  The  Partnership  has adopted
     Statement  133 in the first  quarter of 1999.  The adoption has not had any
     impact on its financial reporting.


2.   Transactions With the General Partner and Affiliates
     ----------------------------------------------------

     MANAGEMENT FEES PAID TO GENERAL PARTNER

     In accordance with the Partnership  Agreement,  the General Partner earns a
     management  fee  in  connection  with  its  management  of  the  equipment,
     calculated as a percentage of the monthly gross rentals received,  and paid
     monthly in arrears.  As of March 31, 1999,  management  fees of $36,928 are
     included in payables to affiliates.

     DIRECT SERVICES FROM GENERAL PARTNER

     The  General  Partner  and  an  affiliate  provide   accounting,   investor
     relations,  billing, collecting, asset management, and other administrative
     services to the Partnership. The Partnership reimburses the General Partner
     for these services  performed on its behalf as permitted under the terms of
     the Partnership  Agreement.  As of March 31, 1999, direct services from the
     General  Partner in the amount of  $11,123  are  included  in  payables  to
     affiliates.


                                        6

<PAGE>


                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)


2.   Transactions With the General Partner and Affiliates, continued
     ----------------------------------------------------

     GENERAL AND ADMINISTRATIVE EXPENSES

     The General  Partner and an affiliate are reimbursed for the actual cost of
     administrative  expenses incurred on behalf of Partnership per the terms of
     the Partnership Agreement. As of March 31, 1999, administrative expenses of
     $30,946 are included in payable to affiliates.

     RECEIVABLE FROM RELATED PARTY

     The General  Partner  collects and applies rental  payments to the lessee's
     account with the  Partnership  for those lessees who remit  directly to the
     General   Partner.   The  rental  payments  are  then  transferred  to  the
     Partnership,  eliminating the receivable from related party balance. At the
     end of March 1999,  $193,717 in rents were  applied by the General  Partner
     that were transferred to the Partnership in April 1999.

     EQUIPMENT PURCHASES

     During the three months ended March 31, 1999, the Partnership  acquired the
     equipment described below from Capital Associates International, Inc.:

<TABLE>
<CAPTION>

                                                                                                   Total
                                                                               Acquisition       Equipment
                                          Equipment           Cost of           Fees and          Purchase
              Lessee                     Description         Equipment        Reimbursements       Price
      --------------------------      -----------------     -----------       --------------    -----------

     <S>                             <C>                   <C>                  <C>            <C>
      Alliance Data Systems           VSAT's                $   626,468           $ 21,707      $   648,176
      Allied Signal, Inc.             Projector                  44,301              1,535           45,836
      Atmel Corporation               SDI Analyzer              497,357             17,233          514,590
      Consolidated Diesel             Forklift                   44,895              1,556           46,451
      General Motors Corporation      Forklift                   20,495                710           21,205
      General Motors Corporation      Material Handling          46,578              1,614           48,192
      General Motors Corporation      Scrubber                   23,949                830           24,779
      Schratter Foods                 Forklift                  152,001              5,267          157,268
      Thomson Industries              Machine Tools              85,350              2,957           88,307
                                                            -----------           --------      -----------
                                                            $ 1,541,394           $ 53,409      $ 1,594,804
                                                            ===========           ========      ===========
</TABLE>

      As of March 31, 1999,  the general  partner had  identified  approximately
      $724,000 of equipment that satisfied the Partnership's investment criteria
      and is expected to be acquired during the remainder of 1999.

3.    Year 2000
      ---------

      An  affiliate  provides  accounting  and  other  administrative  services,
      including data processing  services to the Partnership.  The affiliate has
      conducted  a  comprehensive  review of its  computer  systems to  identify
      systems that could be affected by the Year 2000 issue. The Year 2000 issue
      results from computer  programs being written using two digits rather than
      four to define the applicable year.  Certain computer programs which  have

                                        7

<PAGE>


                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)


3.    Year 2000, continued
      ---------

      date-sensitive software could recognize a date using "00" as the year 1900
      rather than the year 2000.  This could result in major system  failures or
      miscalculations.  Certain of the  affiliate's  software  has already  been
      upgraded to correctly  account for the Year 2000 issue.  The  affiliate is
      implementing  additional  upgrades  whereby the affiliate's  primary lease
      tracking and accounting software will account for the Year 2000 correctly.
      The affiliate  expects that the new upgrades will be fully  operational by
      December 31, 1999,  and therefore  expects that it will be fully Year 2000
      compliant.  The affiliate  does not expect any other changes  required for
      the Year 2000 to have a  material  effect  on its  financial  position  or
      results of  operations.  As such,  the  affiliate  has not  developed  any
      specific  contingency plans in the event it fails to complete the upgrades
      by December 31, 1999.  However,  should the affiliate be  unsuccessful  in
      completing the necessary upgrades by December 31, 1999, it does not expect
      there will be a material  adverse  effect on the  Partnership's  financial
      position or results of operations. There could be a negative impact on the
      Partnership's ability to realize expected cash flows from leased equipment
      on a timely basis. While it is expected that the Partnership's  ability to
      ultimately realize all expected cash flows will not be impacted, delays in
      collecting  cash  flows  would  have a  negative  impact on the  timing of
      distributions  to partners.  The  affiliate  does not expect any Year 2000
      issues  relating to its customers and vendors to have a material effect on
      its financial position or results of operations.


                                        8

<PAGE>



                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations


Results of Operations
---------------------

Presented below are schedules  (prepared  solely to facilitate the discussion of
results of  operations  that  follows)  showing  items of income and expense and
changes in those items derived from the Statements of Income:

                                              Three Months
                                             Ended March 31,
                                         -----------------------
                                            1999         1998          Change
                                         ----------    ---------      ---------

Leasing margin                           $ 770,657     $ 609,040      $ 161,617
Equipment sales margin                      12,571        27,095        (14,524)
Interest income                             24,453        64,797        (40,344)
Management fees to general partner        (106,437)      (87,493)       (18,944)
Direct services from general partner       (47,770)      (26,349)       (21,421)
General and administrative expenses        (55,017)      (41,169)       (13,848)
Provision for losses                       (75,000)            -        (75,000)
                                         ---------     ---------      ---------
  Net income                             $ 523,457     $ 545,921      $ (22,464)
                                         =========     =========      =========

LEASING MARGIN

Leasing margin consists of the following:

                                                         Three Months Ended
                                                              March 31,
                                                    ----------------------------
                                                        1999           1998
                                                    -----------     -----------

Operating lease rentals                             $ 4,700,453     $ 4,322,162
Direct finance lease income                              76,968          88,347
Depreciation                                         (3,751,074)     (3,482,767)
Interest expense on discounted lease rentals           (255,690)       (318,702)
                                                    -----------     -----------
     Leasing margin                                 $   770,657     $   609,040
                                                    ===========     ===========

     Leasing margin ratio                                    16%             14%
                                                    ===========     ===========

Operating  lease rentals and  depreciation  increased for the three months ended
March 31, 1999  compared to the three  months ended March 31, 1998 due to higher
average monthly rents and associated depreciation in the portfolio.  Interest on
discounted  lease  rentals  decreased  for the three months ended March 31, 1999
compared to the three  months  ended March 31,  1998 due to a net  reduction  in
non-recourse debt.

Leasing margin ratio  fluctuates based upon (i) the mix of direct finance leases
and operating  leases,  (ii)  remarketing  activities,  (iii) the method used to
finance leases added to the Partnership's lease portfolio, and (iv) the relative
age of lease types in the  portfolio.  Leasing  margin and the  related  leasing
margin ratio for an operating  lease financed with  non-recourse  debt increases
during the term of the lease since rents and  depreciation  are typically  fixed
while interest  expense declines as the related  non-recourse  debt principal is
repaid.

                                        9

<PAGE>


                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations, continued


Results of Operations, continued
---------------------

LEASING MARGIN, continued

The  ultimate   profitability  of  the  Partnership's  leasing  transactions  is
dependent  in part on  interest  rates at the time the  leases  are  originated,
future equipment values, and on-going lessee  creditworthiness.  Because leasing
is an alternative to financing  equipment  purchases with debt, lease rates tend
to rise and fall with interest rates  (although  lease rate movements  generally
lag interest rate changes in the capital markets).

EQUIPMENT SALES MARGIN

Equipment sales margin consists of the following:
                                                         Three Months Ended
                                                              March 31,
                                                    ----------------------------
                                                        1999           1998
                                                    -----------     -----------

Equipment sales revenue                             $  378,231       $  98,747
Cost of equipment sales                               (365,660)        (71,652)
                                                    ----------       ---------
     Equipment sales margin                         $   12,571       $  27,095
                                                    ==========       =========

Equipment  sales margin is affected by the volume and  composition  of equipment
that becomes available for sale. Some of the  Partnership's  initial leases have
expired, and the equipment is either being re-leased or sold to the lessee or to
third parties. Equipment sales margin decreased for the three months ended March
31, 1999 compared to the same period in 1998 primarily due to the composition of
equipment that was sold.

INTEREST INCOME

Interest income  decreased for the three months ended March 31, 1999 compared to
the three  months  ended  March 31,  1998 due to a decrease  in  invested  cash.
Interest  income varies due to (1) the amount of cash  available for  investment
(pending  distribution to partners or investment in equipment purchases) and (2)
the interest rate on such invested cash.

EXPENSES

Management   fees,   direct  services  from  general  partner  and  general  and
administrative  expenses  increased  for the three  months  ended March 31, 1999
compared  to the  three  months  ended  March  31,  1998  due to  growth  in the
Partnership's lease portfolio.

PROVISION FOR LOSSES

The  remarketing  of  equipment  for an amount  greater  than its book  value is
reported as equipment  sales margin (if the equipment is sold) or leasing margin
(if the equipment is re-leased). The realization of less than the carrying value
of equipment  (which  occurs when the  equipment  is  remarketed  subsequent  to
initial lease termination) is recorded as provision for losses.

                                       10

<PAGE>


                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations, continued


Results of Operations, continued
---------------------

PROVISION FOR LOSSES, continued

Residual values are established equal to the estimated value to be received from
the equipment following termination of the lease. In estimating such values, the
Partnership considers all relevant facts regarding the equipment and the lessee,
including,  for  example,  the  likelihood  that the lessee  will  re-lease  the
equipment.  The nature of the Partnership's  leasing  activities is such that it
has credit exposure and residual value exposure and will incur losses from those
exposures in the ordinary course of business. The Partnership performs quarterly
assessments of the estimated residual value of its assets to identify any other-
than-temporary losses in value. The Partnership recorded a provision for loss of
$75,000 for the three months ended March 31, 1999 related primarily to equipment
returned to the Partnership.


Liquidity & Capital Resources
-----------------------------

The Partnership funds its operating activities principally with cash from rents,
discounted  lease  rentals  (non-recourse  debt),  interest  income and sales of
off-lease  equipment.  Available cash and cash reserves of the  Partnership  are
invested  in  short-term   government  securities  pending  the  acquisition  of
equipment or distribution to partners.

During the three months ended March 31, 1999, the Partnership acquired equipment
subject to leases with a total  purchase  price of  $1,594,804.  As of March 31,
1999, the general  partner had identified  approximately  $724,000 of additional
equipment that satisfied the Partnership's  acquisition criteria and is expected
to be acquired during the remainder of 1999.

During  the  three  months  ended  March  31,  1999,  the  Partnership  declared
distributions to the Class A limited  partners of $1,330,647  ($497,346 of which
was paid in April 1999). A substantial portion of such distributions is expected
to constitute a return of capital.  Distributions  may be characterized for tax,
accounting and economic purposes as a return of capital, a return on capital, or
a portion of both. The portion of each cash  distribution  which exceeds its net
income for the fiscal  period may be deemed a return of capital  for  accounting
purposes.  However,  the total percentage of the partnership's return on capital
over its life will only be  determined  after all  residual  cash  flows  (which
include  proceeds from the re-leasing and sale of equipment)  have been realized
at the termination of the Partnership.

The general partner believes that the Partnership will generate  sufficient cash
flows  from  operations  during  the  remainder  of 1999,  to (1)  meet  current
operating  requirements,  (2) fund  cash  distributions  to both the Class A and
Class B limited  partners at  annualized  rates of 10.5%  (portions of which are
expected to  constitute  returns of  capital),  and (3)  reinvest in  additional
equipment under leases,  provided that suitable  equipment can be identified and
acquired.





                                       11

<PAGE>


                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations, continued


Liquidity & Capital Resources, continued
-----------------------------

YEAR 2000 ISSUES

An affiliate provides accounting and other  administrative  services,  including
data  processing  services to the  Partnership.  The  affiliate  has conducted a
comprehensive  review of its computer  systems to identify systems that could be
affected  by the Year 2000  issue.  The Year 2000 issue  results  from  computer
programs  being  written  using  two  digits  rather  than  four to  define  the
applicable year.  Certain computer programs which have  date-sensitive  software
could  recognize  a date using "00" as the year 1900  rather than the year 2000.
This could result in major system  failures or  miscalculations.  Certain of the
affiliate's software has already been upgraded to correctly account for the Year
2000 issue.  The  affiliate  is  implementing  additional  upgrades  whereby the
affiliate's  primary lease tracking and accounting software will account for the
Year 2000 correctly.  The affiliate  expects that the new upgrades will be fully
operational  by December 31, 1999,  and therefore  expects that it will be fully
Year 2000  compliant.  The affiliate does not expect any other changes  required
for the Year 2000 to have a material effect on its financial position or results
of operations. As such, the affiliate has not developed any specific contingency
plans in the event it fails to  complete  the  upgrades by  December  31,  1999.
However,  should the  affiliate be  unsuccessful  in  completing  the  necessary
upgrades  by  December  31,  1999,  it does not expect  there will be a material
adverse effect on the Partnership's financial position or results of operations.
There  could be a  negative  impact  on the  Partnership's  ability  to  realize
expected  cash  flows  from  leased  equipment  on a timely  basis.  While it is
expected that the Partnership's  ability to ultimately realize all expected cash
flows  will not be  impacted,  delays in  collecting  cash  flows  would  have a
negative impact on the timing of distributions  to partners.  The affiliate does
not expect any Year 2000 issues  relating to its customers and vendors to have a
material effect on its financial position or results of operations.

New Accounting Pronouncements
-----------------------------

In June 1998,  the  Financial  Accounting  Standards  Board issued SFAS No. 133,
Accounting for Derivative  Instruments and Hedging Activities ("Statement 133").
Statement 133  establishes  accounting  and reporting  standards for  derivative
instruments and for hedging activities. It requires that an entity recognize all
derivatives  as either  assets or  liabilities  in the  statement  of  financial
position and measure those instruments at fair value. Statement 133 is effective
for  fiscal  years  beginning  after June 15,  1999,  with  earlier  application
permitted.  The  Partnership  has adopted  Statement 133 in the first quarter of
1999. The adoption has not had any impact on its financial reporting.

"Safe Harbor"  Statement Under the Private  Securities  Litigation Reform Act of
--------------------------------------------------------------------------------
1995
----

The statements  contained in this report which are not  historical  facts may be
deemed to contain  forward-  looking  statements  with  respect  to events,  the
occurrence of which involve risks and uncertainties,  and are subject to factors
that could cause actual future  results to differ both  adversely and materially
from currently anticipated results, including,  without limitation, the level of
lease originations, realization of residual values, the availability and cost of
financing  sources and the ultimate  outcome of any contract  disputes.  Certain
specific risks associated with particular aspects of the Partnership's  business
are  discussed  under  Results of Operations in this report and under Results of
Operations in the 1998 Form 10-K when and where applicable.

                                       12

<PAGE>


                      CAPITAL PREFERRED YIELD FUND-IV, L.P.


Item 3.  Quantitative and Qualitative Disclosures About Market Risk
         
The partnership's  leases with equipment users are non-cancelable and have lease
rates which are fixed at lease inception.  The partnership  finances its leases,
in part, with  discounted  lease rentals.  Discounted  lease rentals are a fixed
rate debt.  The  partnerships  other  assets and  liabilities  are also at fixed
rates.  Consequently  the  partnership has no interest rate risk or other market
risk exposure.


                                       13

<PAGE>



                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                    PART II.

                                OTHER INFORMATION



Item 1.  Legal Proceedings

         The  Partnership  is  not  a  party  to any material  legal proceedings
         outside the ordinary course of its business.

Item 6.  Exhibits and Reports on Form 8-K

         (a)  Exhibits

         (b)  The  Partnership  did not file any reports on Form 8-K  during the
              quarter ended March 31, 1999.



                                       14

<PAGE>



Item No.                          Exhibit Index

  27           Financial Data Schedule










                                       15

<PAGE>



                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                    Signature



Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Partnership  has duly  caused  this  report to be  signed  on its  behalf by the
undersigned thereunto duly authorized.



                                        CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                        By:  CAI Equipment Leasing V Corp.


Dated:  May 17, 1999                    By:  /s/Anthony M. DiPaolo
                                             -----------------------------
                                             Anthony M. DiPaolo
                                             Senior Vice President








                                       16