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 March 31, 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 March 31,
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)
                                                         March 31,  December 31,
                                                           1999        1998
                                                           ----        ----
ASSETS
Cash and cash equivalents                                 $ 7,073    $ 6,877

Accounts receivable (net of allowance for losses
   on accounts receivable of $245 and $308 at
   March 31, 1999 and December 31, 1998,
   respectively)                                              120        106

Notes receivable (net of allowance for losses
   on notes receivable of $2,396 and $2,375 at
   March 31, 1999 and December 31, 1998,
   respectively)                                            3,510      4,018

Equipment on operating leases and held for lease
   (net of accumulated depreciation of $5,299 and
   $5,378 at March 31, 1999 and December 31, 1998,
   respectively)                                               78         36

Net investment in financing leases (net of allowance
   for early terminations of $661 at March 31, 1999
   and December 31, 1998)                                   2,152      3,352

Investment in joint ventures                                  282        327

Capitalized acquisition fees (net of accumulated
   amortization of $10,682 and $10,615 at March
   31, 1999 and December 31, 1998, respectively)              249        316

Other assets                                                  338        450
                                                          -------    -------

     Total Assets                                         $13,802    $15,482
                                                          =======    =======

LIABILITIES AND PARTNERS' CAPITAL
Liabilities

   Accounts payable and accrued expenses                  $ 1,018    $ 1,073
                                                          -------    -------
     Total Liabilities                                      1,018      1,073
                                                          -------    -------

Partners' Capital
   General Partner                                           --         --

   Limited Partners, 6,500,000 units authorized,
     6,492,727 units issued, 6,192,840 units
     outstanding at March 31, 1999 and December 31,
     1998                                                  12,502     14,027

   Accumulated other comprehensive income                     282        382
                                                          -------    -------

     Total Partners' Capital                               12,784     14,409
                                                          -------    -------

Total Liabilities and Partners' Capital                   $13,802    $15,482
                                                          =======    =======

        The accompanying notes are an integral part of these statements.

                                       2
<PAGE>

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

                                                             Three Months Ended
                                                                  March 31,
                                                               1999      1998
                                                               ----      ----
INCOME
   Rental income                                              $  128    $  574
   Earned income, financing leases                               132       364
   Interest income, notes receivable                             146       289
   Equity in earnings from joint ventures, net                    22        73
   Other income                                                   88       137
                                                              ------    ------
     Total Income                                                516     1,437
                                                              ------    ------

EXPENSES
   Depreciation                                                   81        89
   Amortization of acquisition fees                               67       106
   Lease related operating expenses                                3        36
   Management fees to General Partner                             69       132
   Reimbursed administrative costs to General Partner             58        91
   Provision for losses on receivables                            20        68
   Legal expense                                                  75        62
   General and administrative expenses                            36        58
                                                              ------    ------
     Total Expenses                                              409       642
                                                              ------    ------

NET INCOME                                                       107       795

Other comprehensive income:
   Unrealized gains (losses) on securities:
     Unrealized holding gains (losses) arising during period    (100)       96
     Less: reclassification adjustment for gains (losses)
           included in net income                               --        --   
                                                              ------    ------

Other comprehensive income                                      (100)       96
                                                              ------    ------

COMPREHENSIVE INCOME                                          $    7    $  891
                                                              ------    ------


NET INCOME PER LIMITED PARTNERSHIP UNIT                       $ --      $  .10
                                                              ======    ======

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

ALLOCATION OF NET INCOME:
     General Partner                                          $   82    $  196
     Limited Partners                                             25       599
                                                              ------    ------
                                                              $  107    $  795
                                                              ======    ======

        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)
                                                              Three Months Ended
                                                                   March 31,
                                                                1999      1998
                                                                ----      ----
Operating Activities:
--------------------

   Net income                                                 $   107   $   795

   Adjustments to reconcile net income to net cash
     provided by operating activities:
       Depreciation                                                81        89
       Amortization of acquisition fees                            67       106
       Equity in earnings from joint ventures, net                (22)      (73)
       Gain on sale of equipment                                  (13)     (127)
       Provision for early termination, financing leases         --          31
       Provision for losses on notes receivable                    20        31
       Decrease (increase) in accounts receivable                 (14)       77
       Increase (decrease) in accounts payable and accrued
         expenses                                                 (58)        8
       Decrease in deferred income tax asset                     --           1
       Decrease in other assets                                    12        12
                                                              -------   -------

Net cash provided by operating activities                         180       950
                                                              -------   -------

Investing Activities:
--------------------
   Principal payments, financing leases                         1,080     1,730
   Principal payments, notes receivable                           488       802
   Proceeds from sale of equipment                                 10       161
   Distributions from joint ventures                               67       239
   Payment of acquisition fees                                      3        (3)
                                                              -------   -------

Net cash provided by investing activities                       1,648     2,929
                                                              -------   -------

Financing Activities:
--------------------
   Redemptions of capital                                        --         (43)
   Distributions to partners                                   (1,632)   (3,924)
                                                              -------   -------

Net cash used in financing activities                          (1,632)   (3,967)
                                                              -------   -------

Increase (decrease) in cash and cash equivalents                  196       (88)

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

Cash and cash equivalents, end of period                      $ 7,073   $ 9,130
                                                              =======   =======

        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 March 31, 1999,  the  Partnership  has
investments in notes  receivable,  before allowance for losses, of $5,906,000 of
which $2,192,000 is considered to be impaired.  The Partnership has an allowance
for losses of $2,396,000 as of March 31, 1999. The average  recorded  investment
in  impaired  loans  during the three  months  ended March 31, 1999 and 1998 was
approximately $2,192,000 and $1,988,000, respectively.

                                       5
<PAGE>

         The activity in the allowance for losses on notes receivable during the
three months ended March 31, is as follows:

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

         Beginning balance                   $2,375         $2,268
              Provision for losses               21             31
              Write downs                       -              -  
                                             ------         ------
         Ending balance                      $2,396         $2,299
                                             ======         ======

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 6,203,101 for the three
months ended March 31, 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:

                                                 March 31,   December 31,
                                                   1999         1998
                                                   ----         ----
                                                 (Amounts in Thousands)

         Assets                                    $101         $184
         Liabilities                                 65          117
         Partners' Capital                           36           67


                                                  Three Months Ended
                                                       March 31,
                                                   1999         1998
                                                   ----         ----
                                                 (Amounts in Thousands)

         Revenue                                   $101         $181
         Expenses                                     9           20
         Net Income                                  92          161


                                       6
<PAGE>

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

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

                                                 March 31,   December 31,
                                                   1999         1998
                                                   ----         ----
                                                 (Amounts in Thousands)

         Assets                                    $466         $550
         Liabilities                                144          151
         Partners' Capital                          322          399

                                                  Three Months Ended
                                                       March 31,
                                                   1999         1998
                                                   ----         ----
                                                 (Amounts in Thousands)

         Revenue                                   $  1         $ 25
         Expenses                                    51            4
         Net Income (Loss)                          (50)          21

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

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

                                                 March 31,   December 31,
                                                   1999         1998
                                                   ----         ----
                                                 (Amounts in Thousands)

         Assets                                    $610         $626
         Liabilities                                 99           97
         Partners' Capital                          511          529

                                                  Three Months Ended
                                                       March 31,
                                                   1999         1998
                                                   ----         ----
                                                 (Amounts in Thousands)

         Revenue                                   $ 60         $100
         Expenses                                    79          110
         Net Loss                                   (19)         (10)

         Phoenix  Pacific North West Cable Joint Venture has accepted and agreed
to the terms  stated on a Letter  of Intent  dated  April 5, 1999 to sell all or
substantially  all of its assets on or before the closing  date of July 1, 1999.
Cash,  accounts  receivables and certain other  miscellaneous  items,  currently
owned by Phoenix  Pacific  North West Cable Joint Venture are excluded from this
sale. This Letter of Intent is subject to a definitive asset purchase  agreement
which is currently being negotiated with the potential buyer.


                                       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 "Marin  Action").  Plaintiffs  then dismissed the remaining
claims in  Sacramento  Superior  Court and  refiled  them in a separate  lawsuit
making similar allegations (the"Sacramento Action").

         Plaintiffs have amended the Marin Action twice. Defendants have not yet
answered the complaint and may file a demurrer to dismiss the claims.  Discovery
has not commenced. The Companies intend to vigorously defend the Complaint.

         In February  1999,  plaintiffs  requested a transfer of the  Sacramento
Action  to Marin  County.  The  Court  granted  that  request,  and the case was
transferred in March 1999.  Defendants  have not yet responded to the Complaint.
Discovery  has not  commenced.  The Companies  intend to  vigorously  defend the
Complaint.

         During the three months ended March 31, 1999, the Partnership  recorded
legal expenses of approximately  $25,000 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 $107,000 and $795,000
during  the three  months  ended  March 31,  1999 and  1998,  respectively.  The
decrease in net income for the three months  ended March 31,  1999,  compared to
the same  period  in 1998,  is a result of a  decrease  in  earned  income  from
financing leases and rental income.

         The  decrease in total  income of $921,000  for the three  months ended
March 31, 1999,  as compared to the same period 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 $232,000 for the three months
ended March 31, 1999, compared to the same period in the prior year, is due to a
decrease in the net  investment  in  financing  leases.  The net  investment  in
financing leases was $2.2 million at March 31, 1999, as compared to $7.5 million
at March 31, 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 $446,000 for the three months ended March
31, 1999, compared to the same period in 1998. The decrease in rental income for
the three months ended March 31, 1999 is reflective of a decrease in the size of
the equipment  portfolio.  The  Partnership  owned  equipment  with an aggregate
original  cost of $19.3 million at March 31, 1999, as compared to $41 million at
March 31, 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 $143,000  for the three  months ended March 31,
1999,  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 March 31,  1999,  the net  investment  in notes  receivable  was
$3,510,000, compared to $5,625,000 at March 31, 1998.

         Total  expenses  decreased  by $233,000  during the three  months ended
March 31,  1999,  as compared to the same period in 1998.  The decrease in total
expenses for the three months ended March 31, 1999,  compared to the same period
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

                                       9
<PAGE>

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 $1,748,000 and $3,482,000 during the three months ended
March 31, 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
$67,000  during the three  months  ended  March 31,  1999,  as  compared to cash
distributions  of  $239,000  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 rental income and proceeds from sale of equipment.

         Proceeds from the sale of equipment decreased as result of a decline in
sales activity of the Partnership's  equipment  portfolio.  The Partnership sold
equipment  with an aggregate  original cost of $3.1 million for the three months
ended March 31, 1999, compared to $4.3 million for the same period in 1998.

         As of March 31, 1999, the  Partnership  owned  equipment held for lease
with an original  purchase  price of $8 million and a net book value of $55,000,
compared to $12.7 million and  $291,000,  respectively,  at March 31, 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 three months ended March
31, 1999 was $1,632,000,  as compared to $3,924,000 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  $1,550,000  and
$3,727,000 in distributions during the three months ended September 30, 1998 and
1997,  respectively.  The cumulative  distributions  to the Limited Partners are
$118,852,000 and $106,908,000 as of March 31, 1999 and 1998,  respectively.  The
General  Partner  received  $82,000  and  $197,000  for its  share  of the  cash
available  for  distribution  during the three  months  ended March 31, 1999 and
1998,  respectively.  The Partnership  plans to make  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

         ReSource/Phoenix, Inc. ("ReSource/Phoenix"), an affiliate of the parent
to the  General  Partner  does all local  computer  processing  for the  General
Partner. And as such Resource/Phoenix manages the Year 2000 project on behalf of
the General Partner.

                                       10
<PAGE>


         Resource/Phoenix  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.  ReSource/Phoenix  has  budgeted  for the  necessary
changes,  built  contingency  plans,  and has  progressed  along  the  scheduled
timeline.  Installation of all  remediation  changes to software and hardware is
planned to be completed by September 15, 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  exposure  to any  individual  customer  that  would
materially impact the Partnership  should the customer  experience a significant
Year 2000 problem.

         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  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

                                 March 31, 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 "Marin  Action").  Plaintiffs  then dismissed the remaining
claims in  Sacramento  Superior  Court and  refiled  them in a separate  lawsuit
making similar allegations (the"Sacramento Action").

         Plaintiffs have amended the Marin Action twice. Defendants have not yet
answered the complaint and may file a demurrer to dismiss the claims.  Discovery
has not commenced. The Companies intend to vigorously defend the Complaint.

         In February  1999,  plaintiffs  requested a transfer of the  Sacramento
Action  to Marin  County.  The  Court  granted  that  request,  and the case was
transferred in March 1999.  Defendants  have not yet responded to the Complaint.
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
       ----                      -----                           ---------


May 13, 1999             Executive Vice President,          /S/ GARY W. MARTINEZ
------------             Chief Operating Officer            --------------------
                         and a Director of                  (Gary W. Martinez)
                         Phoenix Leasing Incorporated
                         General Partner


May 13, 1999             Chief Financial Officer,           /S/ HOWARD SOLOVEI
------------             Treasurer and a Director of        --------------------
                         Phoenix Leasing Incorporated       (Howard Solovei)
                         General Partner


May 13, 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

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