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         June 30, 2005
                               -----------------------------


                                       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                     33-80849
                      -----------------------------


                      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.)


   7901 Southpark Plaza, Ste. 107
         Littleton, Colorado                                        80120
         -------------------                                        -----
(Address of principal executive offices)                         (Zip Code)

        Registrant's telephone number, including area code (303) 268-6550
                                                           --------------


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 14

                               Page 1 of 19 Pages
<Page>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                          Quarterly Report on Form 10-Q
                              For the Quarter Ended
                                  June 30, 2005


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



PART I.  FINANCIAL INFORMATION                                              PAGE
                                                                            ----

     Item 1.  Financial Statements

              Balance Sheets - June 30, 2005 and December 31, 2004             3

              Statements of Income - Three and Six Months Ended
              June 30, 2005 and 2004                                           4

              Statements of Cash Flows -Six Months Ended
              June 30, 2005 and 2004                                           5

              Notes to Financial Statements                                6 - 7

     Item 2.  Management's Discussion and Analysis of Financial Condition
              and Results of Operations                                   8 - 12

     Item 3.  Quantitative and Qualitative Disclosures About Market Risk      12

     Item 4.  Controls and Procedures                                         12

PART II. OTHER INFORMATION

     Item 1.      Legal Proceedings                                           13

     Item 6.  Exhibits and Reports on Form 8-K                                13

                  Exhibits                                                    14

                  Signatures                                                  15

                  Certifications                                           16-19

                                       2
<Page>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                 BALANCE SHEETS


                                                    June 30,   December 31,
                                                     2005         2004
                                                     ----         ----
                                                  (Unaudited)
                                     ASSETS

Cash and cash equivalents                       $   407,210   $ 1,208,737
Accounts receivable, net                             14,189        77,014
Prepaid Insurance                                    27,568         5,040
Equipment held for sale or re-lease                 132,133       123,223
Net investment in direct finance leases           1,850,882     2,630,701
Leased equipment, net                            10,277,721    13,893,572
                                                -----------   -----------

Total assets                                    $12,709,703   $17,938,287
                                                ===========   ===========


                       LIABILITIES AND PARTNERS' CAPITAL

Liabilities:
     Accounts payable and accrued liabilities   $   323,073   $   420,549
     Payables to affiliates                         204,388       116,570
     Rents received in advance                       10,193         7,129
     Distributions payable to partners              287,748       476,952
     Discounted lease rentals                     6,744,549     9,545,679
                                                -----------   -----------

Total liabilities                                 7,569,951    10,566,879
                                                -----------   -----------

Partners' capital:
     General partner                                     --            --
     Limited partners:
         Class A                                  4,899,392     7,123,337
         Class B                                    240,360       248,071
                                                -----------   -----------

Total partners' capital                           5,139,752     7,371,408
                                                -----------   -----------

Total liabilities and partners' capital         $12,709,703   $17,938,287
                                                ===========   ===========


                 See accompanying notes to financial statements.

                                       3
<Page>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                              STATEMENTS OF INCOME
                                   (Unaudited)

<Table>
<Caption>
                                                Three Months Ended        Six Months Ended
                                                     June 30,                 June 30,
                                           ------------------------   -----------------------
                                               2005         2004         2005         2004
                                               ----         ----         ----         ----
<S>                                         <C>          <C>          <C>          <C>
Revenue:
  Operating lease rentals                   $2,080,035   $2,859,656   $4,354,671   $5,846,626
  Direct finance lease income                   29,569       68,914       71,083      150,167
  Equipment sales margin                       125,526      101,058      158,773      156,166
  Interest income                                3,155        1,266        5,860        2,262
                                            ----------   ----------   ----------   ----------

Total revenue                                2,238,285    3,030,894     ,590,387    6,155,221
                                            ----------   ----------   ----------   ----------

Expenses:
  Depreciation                               1,433,885    2,166,321    3,039,859    4,582,284
  Management fees to general partner            47,584       69,941      100,598      145,033
  Direct services from general partner          38,923       72,566       77,150      144,230
  General and administrative                   134,780      107,641      232,974      238,658
  Interest on discounted lease rentals         149,230      249,175      295,378      551,124
  Remarketing sharing                          130,074         --        213,946         --
  Provision for losses, net                       --        112,500       61,000      222,500
                                            ----------   ----------   ----------   ----------

Total expenses                               1,934,476    2,778,144    4,020,905    5,883,829
                                            ----------   ----------   ----------   ----------

Net income                                  $  303,809   $  252,750   $  569,482   $  271,392
                                            ==========   ==========   ==========   ==========

Net income allocated:
  To the general partner                    $   14,427   $   11,421   $   28,004   $   18,936
  To the Class A limited partners              286,488      238,916      536,064      249,931
  To the Class B limited partner                 2,894        2,413        5,414        2,525
                                            ----------   ----------   ----------   ----------

                                            $  303,809   $  252,750   $  569,482   $  271,392
                                            ==========   ==========   ==========   ==========

  Net income per weighted average Class A
       limited partner unit outstanding     $     0.59   $     0.50   $     1.11   $     0.52
                                            ==========   ==========   ==========   ==========

  Weighted average Class A limited
       partner units outstanding               481,695      482,530      481,742      483,340
                                            ==========   ==========   ==========   ==========
</Table>

                 See accompanying notes to financial statements.

                                       4
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                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<Table>
<Caption>
                                                                  Six Months Ended
                                                                  ----------------
                                                                June 30,      June 30,
                                                                 2005           2004
                                                                 ----           ----

<S>                                                          <C>            <C>
Net cash provided by operating activities                    $ 4,989,945    $ 6,867,264
                                                             -----------    -----------

Cash flows from financing activities:
     Principal payments on discounted lease rentals           (2,801,130)    (4,495,101)
     Redemptions of Class A limited partner units                   (738)       (42,312)
     Distributions to partners                                (2,989,604)    (1,703,663)
                                                             -----------    -----------

Net cash used in financing activities                         (5,791,472)    (6,241,076)
                                                             -----------    -----------

Net increase (decrease) in cash and cash equivalents            (801,527)       626,188

Cash and cash equivalents at beginning of period               1,208,737        820,121
                                                             -----------    -----------

Cash and cash equivalents at end of period                   $   407,210    $ 1,446,309
                                                             ===========    ===========

Supplemental disclosure of cash flow information -Interest
     paid on discounted lease rentals                        $   295,378    $   551,124
                                                             ===========    ===========
</Table>


                 See accompanying notes to 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 accounting principles generally accepted in the United
     States of America 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 accounting
     principles generally accepted in the United States of America 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, 2004 was derived from the audited financial statements
     included in the Partnership's 2004 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, 2004, previously
     filed with the Securities and Exchange Commission.

     The preparation of financial statements in conformity with accounting
     principles generally accepted in the United States of America requires
     management to make estimates and assumptions that affect the reported
     amounts of assets and liabilities and disclosure of contingent assets and
     liabilities at the date of the financial statements and the reported
     amounts of revenue and expenses during the reporting period. For leasing
     entities, this includes the estimate of residual values and impairment as
     discussed below. Actual results could differ from those estimates. Included
     in the results of operations for the six months ended June 30, 2005 and
     2004 were $61,000 and $222,500 for provision for losses.

     The Partnership is in its liquidation period, as defined in the Partnership
     Agreement. Even so, because the liquidation period extends over an
     undefined number of accounting periods, the accompanying financial
     statements have been prepared on a going concern basis that contemplates
     the realization of assets and payments of liabilities in the ordinary
     course of business, which is in accordance with accounting principles
     generally accepted in the United States of America. The General Partner
     believes that the Partnership will generate sufficient cash flows from
     operations during the remainder of 2005 and 2006, to (1) meet current
     operating requirements, and (2) fund cash distributions to Class A limited
     partners in accordance with the Partnership Agreement. All distributions
     are expected to be a return of capital for economic and accounting
     purposes. Additionally, the General Partner anticipates that all equipment
     owned by the Partnership will be sold and the Partnership liquidated during
     2006. However, the Partnership has not entered into a formal liquidation
     plan as of June 30, 2005 and accordingly has not adopted the liquidation
     basis of accounting. There is no assurance that the limited partners will
     receive future distributions equal to their capital account balance at June
     30, 2005.

                                       6
<Page>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)

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. Managemenet fees to the general partner for the six
     months ended June 30, 2005 and 2004 were $100,598 and $145,033,
     respectively. As of June 30, 2005 and December 31, 2004 management fees of
     $11,725 and $12,479 respectively, 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 terms of the
     Partnership Agreement. Direct services from the general partner for the six
     months ended June 30,2005 and 2004 were $77,150 and $144,230, respectively.
     As of June 30, 2005 and December 31, 2004 direct services from the General
     Partner in the amount of $21,953 and $26,076, respectively, are included in
     payables to affiliates.

     General and Administrative Expenses

     The General Partner and an affiliate are reimbursed for the actual cost of
     administrative expenses incurred on behalf of the Partnership per the terms
     of the Partnership Agreement. General and administrative expenses for the
     six months ended June 30, 2005 and 2004 were $232,974 and $238,658,
     respectively. As of June 30, 2005 and December 31, 2004 administrative
     expenses of $170,710 and $78,015, respectively, are included in payables to
     affiliates. The June 30, 2005 amount includes an accrual for profit sharing
     proceeds which will be paid in the third quarter (see below).

3.   Remarketing Agreement
     ---------------------

     The Partnership has entered into remarketing agreements with an
     unaffiliated third party, whereby that party provides remarketing services
     to the Partnership in exchange for profit sharing once the Partnership has
     reached certain thresholds, usually relating to rents received on
     re-marketed or sold equipment after the expiration of the initial lease
     term. During the six months ended June 30, 2005, the Partnership reached
     its first threshold and was required to begin paying profit sharing
     proceeds on the remarketing agreements. The profit sharing proceeds
     incurred during the six months ended June 30, 2005 were $213,946 and are
     recorded in the accompanying statements of income as remarketing sharing.

                                       7
<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:

<Table>
<Caption>
                                                  Three Months                               Six Months
                                                 Ended June 30,                             Ended June 30,
                                       -----------------------------------    -----------------------------------
                                          2005        2004         Change       2005          2004         Change
                                          ----        ----         ------       ----          ----         ------
<S>                                    <C>          <C>          <C>          <C>          <C>          <C>
Leasing margin                         $ 396,415    $ 513,074    $(116,659)   $ 876,571    $ 863,385    $  13,186
Equipment sales margin                   125,526      101,058       24,468      158,773      156,166        2,607
Interest income                            3,155        1,266        1,889        5,860        2,262        3,598
Management fees to general partner       (47,584)     (69,941)      22,357     (100,598)    (145,033)      44,435
Direct services from general partner     (38,923)     (72,566)      33,643      (77,150)    (144,230)      67,080
General and administrative              (134,780)    (107,641)     (27,139)    (232,974)    (238,658)       5,684
Provision for losses, net                     --     (112,500)     112,500      (61,000)    (222,500)     161,500
                                       ---------    ---------    ---------    ---------    ---------    ---------
  Net income                           $ 303,809    $ 252,750    $  51,059    $ 569,482    $ 271,392    $ 298,090
                                       =========    =========    =========    =========    =========    =========
</Table>

The Partnership entered its liquidation period in 2002, as defined in the
Partnership Agreement, and will not purchase any equipment in future periods.
Furthermore, during future periods, initial leases will expire and the equipment
will be remarketed (i.e., re-leased or sold). As a result, both the size of the
Partnership's leasing portfolio and the amount of total revenue will decline
("portfolio runoff"). Even so, because the liquidation period extends over an
undefined number of accounting periods, the accompanying financial statements
have been prepared on a going concern basis that contemplates the realization of
assets and payments of liabilities in the ordinary course of business, which is
in accordance with accounting principles generally accepted in the United States
of America.

Leasing Margin

Leasing margin consists of the following:

<Table>
<Caption>
                                                  Three Months Ended                Six Months Ended
                                                        June 30,                        June 30,
                                               ---------------------------     --------------------------
                                                   2005            2004            2005            2004
                                                   ----            ----            ----            ----
<S>                                            <C>             <C>             <C>             <C>
Operating lease rentals                        $ 2,080,035     $ 2,859,656     $ 4,354,671     $ 5,846,626
Direct finance lease income                         29,569          68,914          71,083         150,167
Depreciation                                    (1,433,885)     (2,166,321)     (3,039,859)     (4,582,284)
Remarketing sharing                               (130,074)           --          (213,946)           --
Interest expense on discounted lease rentals      (149,230)       (249,175)       (295,378)       (551,124)
                                               -----------     -----------     -----------     -----------
   Leasing margin                              $   396,415     $   513,074     $   876,571     $   863,385
                                               ===========     ===========     ===========     ===========

   Leasing margin ratio                                 19%             18%             20%             14%
                                               ===========     ===========     ===========     ===========
</Table>

                                       8
<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 components of leasing margin decreased due to portfolio runoff. Remarketing
sharing represents a remarketing agreement with an unaffiliated third party,
whereby that party provides remarketing services to the Partnership in exchange
for profit sharing once the Partnership has reached certain thresholds, usually
relating to rents received on re-marketed or sold equipment after the expiration
of the initial lease term. During the six months ended June 30, 2005, the
Partnership reached its first threshold and was required to begin paying profit
sharing proceeds on the remarketing agreements.

Leasing margin ratio increased for the three and six months ended June 30, 2005
compared to the three and six months ended June 30, 2004 primarily due to
increases in a) the percentage of leases in the portfolio that have entered
their remarketing stage, and b) the average maturity of operating leases in the
portfolio. Leasing margin is generally lower and leasing margin ratio is
generally higher as leases enter their remarketing stage because typically the
rate of return on remarketed leases is higher. Leasing margin and leasing margin
ratio for an operating lease financed with discounted lease rentals increase as
the lease matures since rents and depreciation are typically fixed while
interest expense declines as the related discounted lease rentals principal is
repaid. Leasing margin decreased for the three months ended June 30,2005
compared to the three months ended June 30,2004 primarily due to the decreasing
size of the portfolio.

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         Six Months Ended
                                     June 30,                 June 30,
                               ---------------------    ----------------------
                                2005         2004         2005         2004
                                ----         ----         ----         ----
Equipment sales  revenue      $ 703,132    $ 669,096    $ 909,997    $ 785,030
Cost of equipment sales        (577,606)    (568,038)    (751,224)    (628,864)
                              ---------    ---------    ---------    ---------
     Equipment sales margin   $ 125,526    $ 101,058    $ 158,773    $ 156,166
                              =========    =========    =========    =========


Equipment sales margin fluctuates based on the composition of equipment
available for sale. Currently, the Partnership is in its liquidation period (as
defined in the Partnership Agreement). Initial leases are expiring and the
equipment is either being re-leased or sold to the lessee or a third party.
Equipment sales margin varies with the number and dollar amount of equipment
leases that mature in a particular period and the current market for specific
equipment and residual value estimates.

                                       9
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                     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
----------------------

Interest Income

Interest income varies due to (1) the amount of cash available for investment
pending distribution to partners and (2) the interest rate on such invested
cash.

Expenses

Management fees paid to the general partner are earned on gross rents received
and will fluctuate due to variances in cash flow and the size of the
Partnership's portfolio. Management fees paid to the general partner decreased
for the three and six months ended June 30, 2005 compared to the three and six
months ended June 30, 2004 due to the decrease in average portfolio size
discussed above, which resulted in a corresponding decrease in gross rents
received.

Direct services from the general partner decreased for the three and six months
ended June 30, 2005 primarily due to the decreasing size of the portfolio. There
are fewer leases and, therefore, less time is required to manage it.

General and administrative expenses decreased primarily due to a) a one-time
charge to increase the accrual for tax preparation fees in the first quarter of
2004 as a result of actual expenses incurred related to 2003 tax returns, b)
timing differences in software update expenses passed through by the general
partner, and c) a reduction in the amount of insurance expense incurred by the
Partnership.

Provision for Losses

The realization of greater than the carrying value of equipment (which occurs
when the equipment is remarketed subsequent to initial lease termination) 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 is recorded as provision for losses.

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 or purchase
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 impairments in value that, if any, are also recorded as provision for
losses.

The provision for losses of $61,000 recorded during the six months ended June
30, 2005 related primarily to losses on equipment returned to the Partnership at
lease maturity occurring because the residual realized is expected to be less
than the residual value originally estimated.

                                       10
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                     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
-----------------------------

The Partnership is in its liquidation period, as defined in the Partnership
Agreement. The Partnership is not purchasing additional equipment, initial
leases are expiring, and the amount of equipment being remarketed (i.e.,
re-leased, renewed, or sold) is generally decreasing. As a result, both the size
of the Partnership's lease portfolio and the amount of leasing revenue are
declining. Even so, because the liquidation period extends over an undefined
number of accounting periods, the accompanying financial statements have been
prepared on a going concern basis that contemplates the realization of assets
and payments of liabilities in the ordinary course of business, which is in
accordance with accounting principles generally accepted in the United States of
America.

The Partnership funds its operating activities principally with cash from rents
and sales of off-lease equipment. The decline of net cash provided by operating
activities of approximately $3,390,000 from the six months ended June 30, 2004
to June 30, 2005 is primarily due to a reduction in equipment under lease.
Available cash and cash reserves of the Partnership are invested in short-term
government securities pending distribution to the partners.

During the six months ended June 30, 2005, the Partnership declared
distributions to the Class A limited partners of $2,759,271 ($285,443 of which
was paid in July 2005). All such distributions are expected to constitute a
return of capital for economic purposes. 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 that
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 2005, to (1) meet current
operating requirements, and (2) fund cash distributions to Class A limited
partners in accordance with the Partnership Agreement. All distributions are
expected to be a return of capital for economic and accounting purposes.
Additionally, the General Partner anticipates that all equipment owned by the
Partnership will be sold and the Partnership liquidated by December 31, 2006.
However, the Partnership has not entered into a formal liquidation plan as of
June 30, 2005 and accordingly has not adopted the liquidation basis of
accounting. There is no assurance that the limited partners will receive future
distributions equal to their capital account balance at June 30, 2005.

                                       11
<Page>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

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

"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 2004 Form 10-K when and where applicable.


Item 3.  Quantitative and Qualitative Disclosures About Market Risk

The Partnership's leases with equipment users are non-cancelable and have lease
rates that 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 Partnership's other assets and liabilities are also at fixed rates.
Consequently, the Partnership has minimal interest rate risk or other market
risk exposure.


Item 4.  Controls and Procedures

An evaluation was performed under the supervision and with the participation of
the General Partner's management, including the President and Director, and the
Principal Financial Officer, of the effectiveness of the design and operation of
the Partnership's disclosure controls and procedures as of the end of the period
covered by this report. Based on that evaluation, the General Partner's
management, including the President and Director, and the Principal Financial
Officer, concluded that the Partnership's disclosure controls and procedures are
effective in timely alerting them to material information relating to the
Partnership required to be included in the Partnership's periodic SEC reports.


There have been no significant changes in the Partnership's internal controls or
in other factors that could significantly affect the internal controls
subsequent to the date the Partnership completed its evaluation.

                                       12
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                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                    PART II.

                                OTHER INFORMATION



Item 1.           Legal Proceedings

                  The Partnership is involved in routine legal proceedings
                  incidental to the conduct of its business. The General Partner
                  believes none of these legal proceedings will have a material
                  adverse effect on the financial condition or operations of the
                  Partnership.

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 June 30, 2005.



                                       13
<Page>
                                Index to Exhibits

Exhibit
Number     Description
------     -----------
* 99.1     Certification by John F. Olmstead  pursuant to 18 U.S.C. Section
           1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act
           of 2002.

* 99.2     Certification by Mary M. Ebele  pursuant to 18 U.S.C. Section 1350,
           as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.


 *  Filed herewith




                                       14
<Page>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                   Signatures



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:  August 22, 2005         By: /s/John F. Olmstead
                                    --------------------------------------
                                    John F. Olmstead
                                    President and Director
                                    (Principal Executive Officer)

                                    CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                    By:      CAI Equipment Leasing V Corp.


Dated:  August 13, 2005         By: /s/Mary M. Ebele
                                    --------------------------------------
                                     Mary M. Ebele
                                    Principal Financial Officer


                                       15
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                                  CERTIFICATION

     I, John F. Olmstead, President and Director of CAI Equipment Leasing V
     Corp., the General Partner of Capital Preferred Yield Fund-IV, L.P. (the
     "Partnership"), certify that:

            1. I have reviewed this quarterly report on Form 10-Q of the
     Partnership;

            2. Based on my knowledge, this quarterly report does not contain any
      untrue statement of a material fact or omit to state a material fact
      necessary to make the statements made, in light of the circumstances under
      which such statements were made, not misleading with respect to the period
      covered by this quarterly report;

            3. Based on my knowledge, the financial statements, and other
      financial information included in this quarterly report, fairly present in
      all material respects the financial condition, results of operations and
      cash flows of the Partnership as of, and for the periods presented in this
      quarterly report;

            4. The Partnership's other certifying officer and I are responsible
      for establishing and maintaining disclosure controls and procedures (as
      defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Partnership
      and have:

                  a. designed such disclosure controls and procedures or caused
            such disclosure controls and procedures to be designed under our
            supervision to ensure that material information relating to the
            Partnership, including its consolidated subsidiaries, is made known
            to us by others within those entities, particularly during the
            period in which this report in being prepared;

                  b. evaluated the effectiveness of the Partnership's disclosure
            controls and procedures and presented in this report our conclusions
            about the effectiveness of the disclosure controls and procedures as
            of the end of the period covered by this report and based on such
            evaluation; and

                  c. disclosed in this report any change in the Partnership's
            internal control over financial reporting that occurred during the
            Partnership's most recent fiscal quarter that has materially
            affected, or is reasonably likely to materially affect, the
            Partnership's internal control over financial reporting; and

            5. The Partnership's other certifying officer and I have disclosed,
      based on our most recent evaluation of internal control over financial
      reporting, to the Partnership's auditors:

                  a. all significant deficiencies and material weaknesses in the
            design or operation of internal control over financial reporting
            which are reasonably likely to adversely affect the Partnership's
            ability to record, process, summarize and report financial
            information; and

                  b. any fraud, whether or not material, that involves
            management or other employees who have a significant role in the
            Partnership's internal control over financial reporting.

                                 /s/ John F. Olmstead
                                 -------------------
                                     John F. Olmstead
                                  President and Director
                              (Principal Executive Officer)
                                     August 22, 2005

                                       16
<Page>
                                  CERTIFICATION

     I, Mary M. Ebele, Principal Financial Officer of CAI Equipment Leasing V
     Corp., the General Partner of Capital Preferred Yield Fund-IV, L.P. (the
     "Partnership"), certify that:

            1. I have reviewed this quarterly report on Form 10-Q of the
     Partnership;

            2. Based on my knowledge, this quarterly report does not contain any
      untrue statement of a material fact or omit to state a material fact
      necessary to make the statements made, in light of the circumstances under
      which such statements were made, not misleading with respect to the period
      covered by this quarterly report;

            3. Based on my knowledge, the financial statements, and other
      financial information included in this quarterly report, fairly present in
      all material respects the financial condition, results of operations and
      cash flows of the Partnership as of, and for the periods presented in this
      quarterly report;

            4. The Partnership's other certifying officer and I are responsible
      for establishing and maintaining disclosure controls and procedures (as
      defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Partnership
      and have:

                  a. designed such disclosure controls and procedures or caused
            such disclosure controls and procedures to be designed under our
            supervision to ensure that material information relating to the
            Partnership, including its consolidated subsidiaries, is made known
            to us by others within those entities, particularly during the
            period in which this report in being prepared;

                  b. evaluated the effectiveness of the Partnership's disclosure
            controls and procedures and presented in this report our conclusions
            about the effectiveness of the disclosure controls and procedures as
            of the end of the period covered by this report and based on such
            evaluation; and

                  c. disclosed in this report any change in the Partnership's
            internal control over financial reporting that occurred during the
            Partnership's most recent fiscal quarter that has materially
            affected, or is reasonably likely to materially affect, the
            Partnership's internal control over financial reporting; and

            5. The Partnership's other certifying officer and I have disclosed,
      based on our most recent evaluation of internal control over financial
      reporting, to the Partnership's auditors:

                  a. all significant deficiencies and material weaknesses in the
            design or operation of internal control over financial reporting
            which are reasonably likely to adversely affect the Partnership's
            ability to record, process, summarize and report financial
            information; and

                  b. any fraud, whether or not material, that involves
            management or other employees who have a significant role in the
            Partnership's internal control over financial reporting.

                                   /s/Mary M. Ebele
                                   ----------------
                                      Mary M. Ebele
                               Principal Financial Officer
                                     August 22, 2005

                                       17