UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   -----------

                                   FORM 10-QSB

  X    QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
-----  OF 1934

                For the quarterly period ended September 30, 1999

                                       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 0-18278
                                                -------


                   PHOENIX LEASING CASH DISTRIBUTION FUND IV,
                        A CALIFORNIA LIMITED PARTNERSHIP
--------------------------------------------------------------------------------
                                   Registrant

            California                                    68-0191380
---------------------------------             ----------------------------------
      State of Jurisdiction                   I.R.S. Employer Identification No.


2401 Kerner Boulevard, San Rafael, California             94901-5527
--------------------------------------------------------------------------------
   Address of Principal Executive Offices                  Zip Code

       Registrant's telephone number, including area code: (415) 485-4500
                                                           --------------

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 for such  shorter  period that the  Registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
preceding requirements for the past 90 days.

                              Yes   X      No
                                  -----       -----

6,192,840 Units of Limited Partnership Interest were outstanding as of September
30, 1999.

Transitional small business disclosure format:

                              Yes          No   X
                                  -----       -----

                                  Page 1 of 13
<PAGE>
                          Part I. Financial Information
                          -----------------------------
                          Item 1. Financial Statements
                   PHOENIX LEASING CASH DISTRIBUTION FUND IV,
                        A CALIFORNIA LIMITED PARTNERSHIP
                           CONSOLIDATED BALANCE SHEETS
                 (Amounts in Thousands Except for Unit Amounts)
                                   (Unaudited)
                                                      September 30, December 31,
                                                          1999          1998
                                                          ----          ----
ASSETS
Cash and cash equivalents                                $ 7,377      $ 6,877

Accounts receivable (net of allowance for losses
   on accounts receivable of $199 and $308 at
   September 30, 1999 and December 31, 1998,
   respectively)                                              87          106

Notes receivable (net of allowance for losses
   on notes receivable of $805 and $2,375 at
   September 30, 1999 and December 31, 1998,
   respectively)                                           2,510        4,018

Equipment on operating leases and held for lease
   (net of accumulated depreciation of $3,033
   and $5,378 at September 30, 1999 and December
   31, 1998, respectively)                                     1           36

Net investment in financing leases (net of
   allowance for early terminations of $589 and
   $661 at September 30, 1999 and December 31,
   1998, respectively)                                     1,044        3,352

Capitalized acquisition fees (net of accumulated
   amortization of $10,772 and $10,615 at
   September 30, 1999 and December 31, 1998,
   respectively)                                             159          316

Other assets                                                 211          777
                                                         -------      -------

     Total Assets                                        $11,389      $15,482
                                                         =======      =======

LIABILITIES AND PARTNERS' CAPITAL
Liabilities

   Accounts payable and accrued expenses                 $   993      $ 1,073
                                                         -------      -------
     Total Liabilities                                       993        1,073
                                                         -------      -------

Partners' Capital
   General Partner                                          --           --

   Limited Partners, 6,500,000 units authorized,
     6,492,727 units issued, 6,192,840 units
     outstanding at September 30, 1999 and
     December 31, 1998                                    10,226       14,027

   Accumulated other comprehensive income                    170          382
                                                         -------      -------

     Total Partners' Capital                              10,396       14,409
                                                         -------      -------

Total Liabilities and Partners' Capital                  $11,389      $15,482
                                                         =======      =======

        The accompanying notes are an integral part of these statements.

                                       2
<PAGE>

                   PHOENIX LEASING CASH DISTRIBUTION FUND IV,
                 A CALIFORNIA LIMITED PARTNERSHIP AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                            AND COMPREHENSIVE INCOME
               (Amounts in Thousands Except for Per Unit Amounts)
                                   (Unaudited)

                                          Three Months Ended  Nine Months Ended
                                             September 30,      September 30,
                                            1999      1998     1999       1998
                                            ----      ----     ----       ----
INCOME
   Rental income                          $   149   $   814   $   479   $ 1,992
   Earned income, financing leases             65       223       285       867
   Gain on sale of securities                 163      --         397        37
   Equity in earnings from joint
     ventures, net                             67        69       140       273
   Interest income, notes receivable          226       235       526       697
   Other income                                95       105       275       373
                                          -------   -------   -------   -------
     Total Income                             765     1,446     2,102     4,239
                                          -------   -------   -------   -------

EXPENSES
   Depreciation                                19        66       145       301
   Amortization of acquisition fees            40        98       157       300
   Lease related operating expenses          --          16        16        71
   Management fees to General Partner          54       121       188       364
   Reimbursed administrative costs to
     General Partner                           27        49       142       213
   Provision for losses on receivables       --          27        37       116
   Legal expense                               82        82       218       267
   General and administrative expenses         37        33       113       142
                                          -------   -------   -------   -------
     Total Expenses                           259       492     1,016     1,774
                                          -------   -------   -------   -------
NET INCOME                                    506       954     1,086     2,465

Other comprehensive income:
   Unrealized gains (losses) on securities:
     Unrealized holding gains (losses)
       arising during period                  332       (60)      185        66
     Less: reclassification adjustment
           for gains included in net
           income                            (162)     --        (397)      (37)
                                          -------   -------   -------   -------
   Other comprehensive income                 170       (60)     (212)       29
                                          -------   -------   -------   -------
COMPREHENSIVE INCOME                      $   676   $   894   $   874   $ 2,494
                                          =======   =======   =======   =======


NET INCOME PER LIMITED
   PARTNERSHIP UNIT                       $   .07   $   .12   $   .14   $   .30
                                          =======   =======   =======   =======

DISTRIBUTIONS PER LIMITED
   PARTNERSHIP UNIT                       $   .25   $   .60   $   .75   $  1.80
                                          =======   =======   =======   =======

ALLOCATION OF NET INCOME:
     General Partner                      $    81   $   196   $   244   $   588
     Limited Partners                         425       758       842     1,877
                                          -------   -------   -------   -------
                                          $   506   $   954   $ 1,086   $ 2,465
                                          =======   =======   =======   =======

        The accompanying notes are an integral part of these statements.

                                       3
<PAGE>

                   PHOENIX LEASING CASH DISTRIBUTION FUND IV,
                        A CALIFORNIA LIMITED PARTNERSHIP
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                             (Amounts in Thousands)
                                   (Unaudited)
                                                            Nine Months Ended
                                                               September 30,
                                                            1999          1998
                                                            ----          ----
Operating Activities:
--------------------
   Net income                                             $  1,086     $  2,465
   Adjustments to reconcile net income to net
     cash provided by operating activities:
       Depreciation                                            145          301
       Amortization of acquisition fees                        157          300
       Equity in earnings from joint ventures, net            (140)        (273)
       Gain on sale of equipment                               (97)        (177)
       Gain on sale of securities                             (397)         (37)
       Provision for early termination, financing leases      --             31
       Provision for losses on notes receivable                 37           84
       Decrease in accounts receivable                          19          464
       Increase (decrease) in accounts payable
         and accrued expenses                                  (80)          76
       Decrease in deferred income tax asset                  --              7
       Decrease in other assets                                 27            5
                                                          --------     --------
Net cash provided by operating activities                      757        3,246
                                                          --------     --------

Investing Activities:
--------------------
   Principal payments, financing leases                      2,197        4,792
   Principal payments, notes receivable                      1,471        2,086
   Proceeds from sale of equipment                              98          257
   Proceeds from sale of securities                            397           37
   Distributions from joint ventures                           468          607
   Investment in notes receivable                             --           (118)
   Payment of acquisition fees                                --             (5)
                                                          --------     --------
Net cash provided by investing activities                    4,631        7,656
                                                          --------     --------

Financing Activities:
--------------------
   Redemptions of capital                                     --            (60)
   Distributions to partners                                (4,888)     (11,769)
                                                          --------     --------
Net cash used in financing activities                       (4,888)     (11,829)
                                                          --------     --------

Increase (decrease) in cash and cash equivalents               500         (927)

Cash and cash equivalents, beginning of period               6,877        9,218
                                                          --------     --------

Cash and cash equivalents, end of period                  $  7,377     $  8,291
                                                          ========     ========

        The accompanying notes are an integral part of these statements.

                                       4
<PAGE>

                   PHOENIX LEASING CASH DISTRIBUTION FUND IV,
                        A CALIFORNIA LIMITED PARTNERSHIP
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

Note 1.  General.
         -------

         The accompanying  unaudited condensed consolidated financial statements
have been prepared by the  Partnership  in accordance  with  generally  accepted
accounting  principles,  pursuant to the rules and regulations of the Securities
and  Exchange  Commission.  In  the  opinion  of  Management,   all  adjustments
(consisting  of  normal  recurring  accruals)  considered  necessary  for a fair
presentation  have  been  included.   Although   management  believes  that  the
disclosures are adequate to make the information presented not misleading, it is
suggested that these condensed financial  statements be read in conjunction with
the financial  statements and the notes included in the Partnership's  Financial
Statement, as filed with the SEC in the latest annual report on Form 10-K.

         The Partnership  Agreement  stipulates the methods by which income will
be allocated to the General Partner and the limited  partners.  Such allocations
will be made using income or loss calculated under Generally Accepted Accounting
Principles  for book purposes,  which varies from income or loss  calculated for
tax purposes.

         The  calculation  of items of income and loss for book and tax purposes
may result in book basis  capital  accounts that vary from the tax basis capital
accounts. The requirement to restore any deficit capital balances by the General
Partner  will  be  determined  based  on the  tax  basis  capital  accounts.  At
liquidation  of the  Partnership,  the General  Partner's  remaining  book basis
capital  accounts  will be reduced to zero through the  allocation  of income or
loss.

Note 2.  Reclassification.
         ----------------

         Reclassification  - Certain  1998  amounts  have been  reclassified  to
conform to the 1999 presentation.

Note 3.  Income Taxes.
         ------------

         Federal  and state  income tax  regulations  provide  that taxes on the
income  or loss of the  Partnership  are  reportable  by the  partners  in their
individual income tax returns. Accordingly, no provision for such taxes has been
made in the accompanying financial statements.

Note 4.  Notes Receivable.
         ----------------

         Impaired Notes  Receivable.  At September 30, 1999, the Partnership has
investments in notes  receivable,  before  allowance for losses,  of $3,315,000.
This amount includes impaired notes receivable, net of specific write-downs,  of
$659,000.  The  Partnership  has an  allowance  for  losses  of  $805,000  as of
September 30, 1999. The average recorded investment in impaired loans during the
nine months ended  September  30, 1999 and 1998 was  approximately  $394,000 and
$247,000, respectively.


                                       5
<PAGE>

         The activity in the allowance for losses on notes receivable during the
nine months ended September 30, is as follows:

                                                    1999         1998
                                                    ----         ----
                                                 (Amounts in Thousands)

          Beginning balance                       $ 2,375      $ 2,268
               Provision for losses                    37           84
               Write downs                         (1,607)        --
                                                  -------      -------
          Ending balance                          $   805      $ 2,352
                                                  =======      =======

Note 5.  Net Income (Loss) and Distributions Per Limited Partnership Unit.
         ----------------------------------------------------------------

         Net income and distributions per limited partnership unit were based on
the limited  partners' share of net income and  distributions,  and the weighted
average  number of units  outstanding  of 6,192,840  and  6,196,526 for the nine
months  ended  September  30,  1999 and  1998,  respectively.  For  purposes  of
allocating  net  income  (loss) and  distributions  to each  individual  limited
partner,  the Partnership  allocates net income (loss) and  distributions  based
upon each respective limited partner's net capital contributions.

Note 6.  Investment in Joint Ventures.
         ----------------------------

Equipment Joint Venture
-----------------------

         The aggregate  financial  information of the equipment joint venture is
presented as follows:

                                             September 30,  December 31,
                                                 1999           1998
                                                 ----           ----
                                                (Amounts in Thousands)

          Assets                                $ 61            $184
          Liabilities                             62             117
          Partners' Capital                       (1)             67


                                  Three Months Ended   Nine Months Ended
                                     September 30,       September 30,
                                    1999      1998      1999      1998
                                    ----      ----      ----      ----
                                          (Amounts in Thousands)

           Revenue                  $ 71      $133      $404      $689
           Expenses                    4         8        53        55
           Net Income                 67       125       351       634

                                      6
<PAGE>

Financing Joint Venture
-----------------------

         The aggregate  financial  information of the financing joint venture is
presented as follows:

                                             September 30,  December 31,
                                                 1999           1998
                                                 ----           ----
                                                (Amounts in Thousands)

          Assets                                 $ --           $550
          Liabilities                              --            151
          Partners' Capital                        --            399

                                  Three Months Ended   Nine Months Ended
                                     September 30,       September 30,
                                    1999      1998      1999      1998
                                    ----      ----      ----      ----
                                          (Amounts in Thousands)


          Revenue                   $   7   $  20      $   2     $  68
          Expenses                    --        5        155        13
          Net Income (Loss)             7      15       (153)       55

Foreclosed Cable Systems Joint Ventures
---------------------------------------

         The aggregate  combined  financial  information of the foreclosed cable
systems joint ventures is presented as follows:

                                             September 30,  December 31,
                                                 1999           1998
                                                 ----           ----
                                                (Amounts in Thousands)

          Assets                                 $ --           $626
          Liabilities                              --             97
          Partners' Capital                        --            529

                                  Three Months Ended   Nine Months Ended
                                     September 30,       September 30,
                                    1999      1998      1999      1998
                                    ----      ----      ----      ----
                                          (Amounts in Thousands)

          Revenue                   $ 122   $  96      $ 245     $ 219
          Expenses                     27      77        187       275
          Net Income (Loss)            95      19         58       (56)



                                       7
<PAGE>

Note 7.  Legal Proceedings.
         -----------------

         On October 28, 1997, a Class Action Complaint was filed against Phoenix
Leasing  Incorporated,  Phoenix  Leasing  Associates,  II and III  LP.,  Phoenix
Securities  Inc.  and  Phoenix  American   Incorporated   (the  "Companies")  in
California  Superior Court for the County of Sacramento by eleven individuals on
behalf of investors in Phoenix Leasing Cash Distribution  Funds I through V (the
"Partnerships").  The  Companies  were served with the  Complaint on December 9,
1997. The Complaint sought  declaratory and other relief  including  accounting,
receivership,  imposition of a constructive  trust and judicial  dissolution and
winding up of the Partnerships,  and damages based on fraud, breach of fiduciary
duty and  breach  of  contract  by the  Companies  as  general  partners  of the
Partnerships.

         Plaintiffs  severed  one cause of action  from the  Complaint,  a claim
related to the marketing and sale of CDF V, and  transferred  it to Marin County
Superior Court (the "Berger  Action").  Plaintiffs  then dismissed the remaining
claims in  Sacramento  Superior  Court and  refiled  them in a separate  lawsuit
making similar  allegations (the "Ash Action").  That complaint was subsequently
transferred to Marin County as well.

         Plaintiffs  have amended the Berger Action twice.  Defendants  recently
answered the complaint.  Discovery has recently commenced.  The Companies intend
to vigorously defend the Complaint.

         Defendants have filed a demurrer to the Ash Complaint, which plaintiffs
amended  three times.  Discovery  has not  commenced.  The  Companies  intend to
vigorously defend the Complaint.

         During the nine months ended September 30, 1999 and September 30, 1998,
the Partnership recorded legal expenses of approximately  $101,000 and $108,000,
respectively,  in connection with the above litigation as indemnification to the
General Partner.



                                       8
<PAGE>
                   PHOENIX LEASING CASH DISTRIBUTION FUND IV,
                        A CALIFORNIA LIMITED PARTNERSHIP

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

Results of Operations

         Phoenix  Leasing  Cash  Distribution  Fund  IV,  a  California  limited
partnership (the "Partnership"),  reported net income of $506,000 and $1,086,000
during the three and nine months  ended  September  30, 1999,  respectively,  as
compared  to net income of  $954,000  and  $2,465,000  during the three and nine
months ended  September 30, 1998,  respectively.  The decrease in net income for
the three and nine months ended September 30, 1999, compared to the same periods
in 1998,  is  primarily a result of a decrease in earned  income from  financing
leases and rental income.

         The decrease in total revenues of $681,000 and $2,137,000 for the three
and nine months ended  September  30,  1999,  as compared to the same periods in
1998, is primarily the result of declines in earned income from financing leases
and rental  income.  The  decrease  in earned  income from  financing  leases of
$158,000 and $582,000  for the three and nine months ended  September  30, 1999,
respectively,  compared  to the same  periods  in the  prior  year,  is due to a
decrease in the net  investment  in  financing  leases.  The net  investment  in
financing  leases was $1 million at  September  30,  1999,  as  compared to $4.5
million at September 30, 1998.  The investment in financing  leases,  as well as
earned income from  financing  leases,  will decrease over the lease term as the
Partnership  amortizes  income over the lease term using the interest  method of
accounting.

         Rental income  decreased by $665,000 and  $1,513,000  for the three and
nine months  ended  September  30, 1999,  respectively,  as compared to the same
period in 1998.  The  decrease  in rental  income for the three and nine  months
ended  September  30,  1999  is  reflective  of a  decrease  in the  size of the
equipment portfolio.  The Partnership owned equipment with an aggregate original
cost of $12 million at  September  30,  1999,  as  compared to $24.9  million at
September 30, 1998.

         An additional  factor  contributing to the decline in total revenues is
the  decrease in interest  income from notes  receivable.  Interest  income from
notes receivable  decreased by $9,000 and $171,000 for the three and nine months
ended September 30, 1999, respectively, compared to the same period in 1998. The
decrease in interest income from notes receivable is attributable to the decline
in net investment in notes receivable. At September 30, 1999, the net investment
in notes receivable was $2,510,000 compared to $4,456,000 at September 30, 1998.

         The  decline in total  revenues  resulting  from a  decrease  in earned
income from  financing  leases,  rental  income and  interest  income from notes
receivable for the three and nine months ended  September 30, 1999,  compared to
the same  periods in 1998 was in part  offset by an  increase in gain on sale of
securities  of  $163,000  and  $360,000  for the  three  and nine  months  ended
September  30, 1999,  respectively,  compared to the same  periods in 1998.  The
securities sold consisted of common stock received through the exercise of stock
warrants  granted  to the  partnership  as part  of  financing  agreements  with
emerging growth  companies that are publicly  traded.  The partnership  received
proceeds of $397,000  and $37,000 from the sale of these  securities  during the
nine months ended September 30, 1999 and 1998, respectively.

                                       9
<PAGE>

         Total expenses  decreased by $233,000 and $758,000 during the three and
nine months  ended  September  30, 1999,  respectively,  as compared to the same
period in 1998.  The  decrease in total  expenses  for the three and nine months
ended September 30, 1999,  compared to the same periods in the previous year, is
a result of a decrease  in nearly all of the items  comprising  total  expenses.
These  decreases  are the result of the  continued  decrease  in the size of the
equipment portfolio.

Liquidity and Capital Resources

         The  Partnership's  primary  source of  liquidity  is derived  from its
contractual  obligations  with a  diversified  group of lessees  for fixed lease
terms at fixed rental  amounts,  and from  payments of principal and interest on
its  outstanding  notes  receivable.  As the  initial  lease terms  expire,  the
Partnership  will re-lease or sell the  equipment.  The future  liquidity of the
Partnership  will depend upon the General  Partner's  success in collecting  the
contractual  amounts owed, as well as re-leasing  and selling the  Partnership's
equipment as it comes off lease.

         The  Partnership  reported net cash generated by equipment  leasing and
financing  activities of $4,425,000 and $10,124,000 during the nine months ended
September 30, 1999 and 1998, respectively. The net decrease in cash generated is
due to a decrease in payments on financing leases and notes receivable,  as well
as rental income.

         The  Partnership  received cash  distributions  from joint  ventures of
$468,000  during the nine months ended  September  30, 1999, as compared to cash
distributions  of  $607,000  during the same  period in 1998.  The  decrease  in
distributions  from joint ventures is attributable to a decline in the amount of
cash available for distribution  from one equipment joint venture as a result of
a decrease in proceeds from sale of equipment.

         Proceeds  from the sale of equipment  decreased by $159,000 as a result
of a decline in sales activity of the  Partnership's  equipment  portfolio.  The
Partnership  sold equipment  with an aggregate  original cost of $10 million for
the nine months ended  September 30, 1999,  compared to $20 million for the same
period in 1998.

         As of September 30, 1999,  the  Partnership  owned  equipment  held for
lease with an  original  purchase  price of $4  million  and a net book value of
$16,000,  compared to $8 million and $40,000,  respectively,  at  September  30,
1998. The General Partner is actively engaged, on behalf of the Partnership,  in
remarketing  and selling the  Partnership's  equipment as it becomes  available.
Until new  lessees  or buyers of  equipment  can be found,  the  equipment  will
continue to generate  depreciation  expense  without  any  corresponding  rental
income.  The  effect of this will be a  reduction  of the  Partnership  earnings
during this remarketing period.

         The total  cash  distributed  to  partners  for the nine  months  ended
September  30, 1999 was  $4,888,000,  as compared  to  $11,769,000  for the same
period in 1998.  In  accordance  with the  partnership  agreement,  the  limited
partners  are entitled to 95% of the cash  available  for  distribution  and the
General Partner is entitled to 5%. As a result,  the limited  partners  received
$4,644,000  and  $11,181,000  in  distributions  during  the nine  months  ended
September 30, 1999 and 1998,  respectively.  The cumulative distributions to the
Limited  Partners are $121,945,000 and $114,361,000 as of September 30, 1999 and
1998,  respectively.  The General Partner received $244,000 and $588,000 for its
share of the cash  available  for  distribution  during  the nine  months  ended
September  30,  1999  and  1998,  respectively.  The  Partnership  plans to make

                                       10
<PAGE>

distributions  in 1999 at a decreased rate of 5%,  compared to the December 1998
distribution rate of 12%.

         As provided for by the partnership  agreement,  the General Partner has
determined  to  exercise  its  discretion  that no  further  redemptions  in the
Partnership will be permitted after March 31, 1998.

         The cash to be  generated  from  leasing and  financing  operations  is
anticipated to be sufficient to meet the  Partnership's  continuing  operational
expenses.

Impact of the Year 2000 Issue

         ReSourcePhoenix.com ("ReSourcePhoenix"),  an affiliate of the parent to
the General Partner does all local computer  processing for the General Partner.
And as such  ResourcePhoenix  manages  the Year  2000  project  on behalf of the
General Partner.

         ResourcePhoenix  has a Year 2000 project  plan in place.  The Year 2000
project team has identified  risks, and has implemented  remediation  procedures
for its  Year  2000  issues.  ReSourcePhoenix  has  budgeted  for the  necessary
changes,  built  contingency  plans,  and has  progressed  along  the  scheduled
timeline.  Installation  of all  remediation  changes to critical  software  and
hardware was completed on November 5, 1999.

         Costs incurred by the Partnership  will be expensed as incurred and are
not currently anticipated to be material to the Partnership's financial position
or results of operations.

         The  Partnership's  customers  consist of lessees  and  borrowers.  The
Partnership  does not have knowledge of any exposure to any individual  customer
that would materially  impact the Partnership  should the customer  experience a
significant  Year  2000  problem,  however,   cumulative  exposure  to  multiple
individual  customers could  materially  impact the Partnership  should multiple
customers experience a significant Year 2000 problem.



                                       11
<PAGE>
                   PHOENIX LEASING CASH DISTRIBUTION FUND IV,
                        A CALIFORNIA LIMITED PARTNERSHIP

                               September 30, 1999

                           Part II. Other Information.
                                    -----------------

Item 1.       Legal Proceedings.
              -----------------

         On October 28, 1997, a Class Action Complaint was filed against Phoenix
Leasing  Incorporated,  Phoenix  Leasing  Associates,  II and III  LP.,  Phoenix
Securities  Inc.  and  Phoenix  American   Incorporated   (the  "Companies")  in
California  Superior Court for the County of Sacramento by eleven individuals on
behalf of investors in Phoenix Leasing Cash Distribution  Funds I through V (the
"Partnerships").  The  Companies  were served with the  Complaint on December 9,
1997. The Complaint sought  declaratory and other relief  including  accounting,
receivership,  imposition of a constructive  trust and judicial  dissolution and
winding up of the Partnerships,  and damages based on fraud, breach of fiduciary
duty and  breach  of  contract  by the  Companies  as  general  partners  of the
Partnerships.

         Plaintiffs  severed  one cause of action  from the  Complaint,  a claim
related to the marketing and sale of CDF V, and  transferred  it to Marin County
Superior Court (the "Berger  Action").  Plaintiffs  then dismissed the remaining
claims in  Sacramento  Superior  Court and  refiled  them in a separate  lawsuit
making similar  allegations (the "Ash Action").  That complaint was subsequently
transferred to Marin County as well.

         Plaintiffs  have amended the Berger Action twice.  Defendants  recently
answered the complaint.  Discovery has recently commenced.  The Companies intend
to vigorously defend the Complaint.

         Defendants have filed a demurrer to the Ash Complaint, which plaintiffs
amended  three times.  Discovery  has not  commenced.  The  Companies  intend to
vigorously defend the Complaint.

Item 2.  Changes in Securities.  Inapplicable
         ---------------------

Item 3.  Defaults Upon Senior Securities.  Inapplicable
         -------------------------------

Item 4.  Submission of Matters to a Vote of Securities Holders. Inapplicable
         -----------------------------------------------------

Item 5.  Other Information.  Inapplicable
         -----------------

Item 6.  Exhibits and Reports on 8-K:
         ---------------------------

         a)  Exhibits:

             (27)  Financial Data Schedule

         b)  Reports on 8-K:  None


                                       12
<PAGE>
                                   SIGNATURES


         Pursuant to the  requirements  of Section 13 or 15(d) 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.

                                      PHOENIX LEASING CASH DISTRIBUTION FUND IV,
                                          A CALIFORNIA LIMITED PARTNERSHIP
                                      ------------------------------------------
                                                    (Registrant)


       Date                      Title                           Signature
       ----                      -----                           ---------


November 10, 1999        Executive Vice President,          /S/ GARY W. MARTINEZ
-----------------        Chief Operating Officer            --------------------
                         and a Director of                  (Gary W. Martinez)
                         Phoenix Leasing Incorporated
                         General Partner


November 10, 1999        Chief Financial Officer,           /S/ HOWARD SOLOVEI
-----------------        Treasurer and a Director of        --------------------
                         Phoenix Leasing Incorporated       (Howard Solovei)
                         General Partner


November 10, 1999        Senior Vice President,             /S/ BRYANT J. TONG
-----------------        Financial Operations               --------------------
                         (Principal Accounting Officer)     (Bryant J. Tong)
                         and a Director of
                         Phoenix Leasing Incorporated
                         General Partner


                                       13