----

| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES |
|---|--------------------------------------------------------------------|

| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|------------------------------------------------------------------------------------------|

| Maryland                                 | 52-1328767                           |
|------------------------------------------|--------------------------------------|
| (State of Incorporation)                 | (I.R.S. Employer Identification No.) |
|                                     |                                 |
| 11200 Rockville Pike                     |                                 |
| Rockville, MD                            | 20852                                |
| (Address of Principal Executive Offices) | (ZIP Code)                           |

----

|      |                                                        | Page   |
|-----------|-------------------------------------------------------------|--------|
|      |                                                        |   |
| Part I    | FINANCIAL INFORMATION                                       |   |
|      |                                                        |   |
| Item 1.   | Financial Statements                                        |   |
|      | Balance Sheets                                              |   |
|      | - March 31, 2010 and December 31, 2009                      | 1      |
|      | Statements of Operations and Accumulated Losses             |   |
|      | - for the three months ended March 31, 2010 and 2009        | 2      |
|      | Statements of Cash Flows                                    |   |
|      | - for the three months ended March 31, 2010 and 2009        | 3      |
|      | Notes to Financial Statements                               |   |
|      | - March 31, 2010 and 2009                                   | 4      |
|      |                                                        |   |
| Item 2.   | Management's Discussion and Analysis of Financial Condition |   |
|      | and Results of Operations                                   |   |
|      |                                                        |   |
| Item 4.   | Controls and Procedures                                     |   |
|      |                                                        |   |
|      |                                                        |   |
| Part II   | OTHER INFORMATION                                           |   |
|      |                                                        |   |
| Item 5.   | Other Information                                           | 19     |
|      |                                                        |   |
| Item 6.   | Exhibits                                                    | 20     |
|      |                                                        |   |
| Signature |                                                        | 21     |

----

|                                                                 |   | March 31,   |      |   | December 31, |   |
|----------------------------------------------------------------------|--------|-------------|-----------|--------|--------------|--------|
|                                                                 |   | 2010        |      |   | 2009         |   |
|                                                                 |   | (Unaudited) |      |   |         |   |
|                                                                 |   |        |      |   |         |   |
| Investments in partnerships                                          |   | $           | 2,890,386 |   |         | $      | 2,860,931 |   |
| Investment in partnerships held for sale or transfer                 |   |        | 36,710    |   |         |   | 43,977 |   |
| Cash and cash equivalents                                            |   |        | 6,509,242 |   |         |   | 5,660,470 |   |
| Acquisition fees, principally paid to related parties,               |   |        |      |   |         |   |   |   |
| net of accumulated amortization of $48,867 and $48,381, respectively |   |        | 28,893    |   |         |   | 29,379 |   |
| Property purchase costs,                                             |   |        |      |   |         |   |   |   |
| net of accumulated amortization of $73,106 and $72,771, respectively |   |        | 19,986    |   |         |   | 20,321 |   |
|                                                                 |   |        |      |   |         |   |   |   |
| Total assets                                                         |   | $           | 9,485,217 |   |         | $      | 8,615,078 |   |
|                                                                 |   |        |      |   |         |   |   |   |

| Due on investments in partnerships      |   | $      | 2,790,000   |   |   | $      | 2,790,000   |   |
|-----------------------------------------|--------|--------|-------------|--------|--------|--------|-------------|--------|
| Accrued interest payable                |   |   | 11,390,845  |   |   |   | 11,225,330  |   |
| Accounts payable and accrued expenses   |   |   | 64,042      |   |   |   | 30,153      |   |
|                                    |   |   |        |   |   |   |        |   |
| Total liabilities                       |   |   | 14,244,887  |   |   |   | 14,045,483  |   |
|                                    |   |   |        |   |   |   |        |   |
| Commitments and contingencies           |   |   |        |   |   |   |        |   |
|                                    |   |   |        |   |   |   |        |   |
| Partners' deficit:                      |   |   |        |   |   |   |        |   |
|                                    |   |   |        |   |   |   |        |   |
| Capital paid in:                        |   |   |        |   |   |   |        |   |
| General Partners                        |   |   | 2,000       |   |   |   | 2,000       |   |
| Limited Partners                        |   |   | 73,501,500  |   |   |   | 73,501,500  |   |
|                                    |   |   |        |   |   |   |        |   |
|                                    |   |   | 73,503,500  |   |   |   | 73,503,500  |   |
|                                    |   |   |        |   |   |   |        |   |
| Less:                                   |   |   |        |   |   |   |        |   |
| Accumulated distributions to partners   |   |   | (21,019,700 | )      |   |   | (21,019,700 | )      |
| Offering costs                          |   |   | (7,562,894  | )      |   |   | (7,562,894  | )      |
| Accumulated losses                      |   |   | (49,680,576 | )      |   |   | (50,351,311 | )      |
|                                    |   |   |        |   |   |   |        |   |
| Total partners' deficit                 |   |   | (4,759,670  | )      |   |   | (5,430,405  | )      |
|                                    |   |   |        |   |   |   |        |   |
| Total liabilities and partners' deficit |   | $      | 9,485,217   |   |   | $      | 8,615,078   |   |

----

|                                                                   |   | For the three months ended |        |
|------------------------------------------------------------------------|--------|----------------------------|-------------|
|                                                                   |   | March 31,                  |        |
|                                                                   |   | 2010                       |        |   | 2009 |   |
|                                                                   |   |                       |        |   |   |   |
| Share of income from partnerships                                      |   | $                          | 90,752      |   |   | $ | 25,472 |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| Other revenue and  expenses:                                 |   |                       |        |   |   |   |   |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| Revenue:                                                               |   |                       |        |   |   |   |   |   |
| Gain on extinguishment of debt                                         |   |                       | --          |   |   |   | 8,957,777 |   |
| Interest                                                               |   |                       | 6,011       |   |   |   | 14,458 |   |
|                                                                   |   |                       |        |   |   |   |   |   |
|                                                                   |   |                       | 6,011       |   |   |   | 8,972,235 |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| Expenses:                                                              |   |                       |        |   |   |   |   |   |
| General and administrative                                             |   |                       | 106,268     |   |   |   | 378,256 |   |
| Interest                                                               |   |                       | 165,515     |   |   |   | 160,508 |   |
| Management fee                                                         |   |                       | 93,750      |   |   |   | 93,750 |   |
| Professional fees                                                      |   |                       | 108,250     |   |   |   | 38,415 |   |
| Amortization of deferred costs                                         |   |                       | 1,014       |   |   |   | 13,440 |   |
|                                                                   |   |                       |        |   |   |   |   |   |
|                                                                   |   |                       | 474,797     |   |   |   | 684,369 |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| Total other revenue and expenses                                       |   |                       | (468,786    | ) |   |   | 8,287,866 |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| (Loss) income before gain on disposition of investment                 |   |                       |        |   |   |   |   |   |
| in partnerships                                                        |   |                       | (378,034    | ) |   |   | 8,313,338 |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| Gain on disposition of investment in partnerships,                     |   |                       |        |   |   |   |   |   |
| net of disposition fee                                                 |   |                       | 1,048,769   |   |   |   | -- |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| Net income                                                             |   |                       | 670,735     |   |   |   | 8,313,338 |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| Accumulated losses, beginning of period                                |   |                       | (50,351,311 | ) |   |   | (58,379,590 | ) |
|                                                                   |   |                       |        |   |   |   |   |   |
| Accumulated losses, end of period                                      |   | $                          | (49,680,576 | ) |   | $ | (50,066,252 | ) |
|                                                                   |   |                       |        |   |   |   |   |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| Net income allocated to General Partners (1.51%)                       |   | $                          | 10,128      |   |   | $ | 125,531 |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| Net income allocated to Initial and Special                            |   |                       |        |   |   |   |   |   |
| Limited Partners (1.49%)                                               |   | $                          | 9,994       |   |   | $ | 123,869 |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| Net income allocated to Additional Limited Partners (97%)              |   | $                          | 650,613     |   |   | $ | 8,063,938 |   |
|                                                                   |   |                       |        |   |   |   |   |   |
| Net income per unit of  Additional Limited Partner Interest, |   |                       |        |   |   |   |   |   |
| based on 73,337 units outstanding                                      |   | $                          | 8.87        |   |   | $ | 109.96 |   |

----

|                                                    |   | For the three months ended |       |
|---------------------------------------------------------|--------|----------------------------|------------|
|                                                    |   | March 31,                  |       |
|                                                    |   | 2010                       |       |   | 2009 |   |
|                                                    |   |                       |       |   |   |   |
| Cash flows from operating activities:                   |   |                       |       |   |   |   |
| Net income                                              |   | $                          | 670,735    |   |   | $ | 8,313,338 |   |
|                                                    |   |                       |       |   |   |   |   |   |
| Adjustments to reconcile net income to net cash         |   |                       |       |   |   |   |   |   |
| used in operating activities:                           |   |                       |       |   |   |   |   |   |
| Share of income from partnerships                       |   |                       | (90,752    | ) |   |   | (25,472 | ) |
| Amortization of deferred costs                          |   |                       | 1,014      |   |   |   | 13,440 |   |
| Gain on extinguishment of debt                          |   |                       | --         |   |   |   | (8,957,777 | ) |
| Gain on disposition of investment in partnerships,      |   |                       |       |   |   |   |   |   |
| net of disposition fees                                 |   |                       | (1,048,769 | ) |   |   | -- |   |
|                                                    |   |                       |       |   |   |   |   |   |
| Changes in assets and liabilities:                      |   |                       |       |   |   |   |   |   |
| Decrease in other assets                                |   |                       | --         |   |   |   | 6,088 |   |
| Increase in accrued interest payable                    |   |                       | 165,515    |   |   |   | 160,508 |   |
| Increase in accounts payable and accrued expenses       |   |                       | 33,888     |   |   |   | 231,535 |   |
|                                                    |   |                       |       |   |   |   |   |   |
| Net cash used in operating activities                   |   |                       | (268,369   | ) |   |   | (258,340 | ) |
|                                                    |   |                       |       |   |   |   |   |   |
| Cash flows from investing activities:                   |   |                       |       |   |   |   |   |   |
|                                                    |   |                       |       |   |   |   |   |   |
| Receipt of distributions from local partnerships        |   |                       | 61,298     |   |   |   | -- |   |
| Proceeds from disposition of investment in partnerships |   |                       | 1,133,343  |   |   |   | -- |   |
| Disposition fee paid to a related party                 |   |                       | (77,500    | ) |   |   | -- |   |
|                                                    |   |                       |       |   |   |   |   |   |
| Net cash provided by investing activities               |   |                       | 1,117,141  |   |   |   | -- |   |
|                                                    |   |                       |       |   |   |   |   |   |
| Net increase (decrease) in cash and cash equivalents    |   |                       | 848,772    |   |   |   | (258,340 | ) |
|                                                    |   |                       |       |   |   |   |   |   |
| Cash and cash equivalents, beginning of period          |   |                       | 5,660,470  |   |   |   | 7,975,361 |   |
|                                                    |   |                       |       |   |   |   |   |   |
| Cash and cash equivalents, end of period                |   | $                          | 6,509,242  |   |   | $ | 7,717,021 |   |

----

|   |     Property  |  Principal |     Date   | Disposition |
|--------|----------------------------------------|-----------------|------------------------------------------|-------------|
|   |                                   |            |                                     |        |
|   | Cedar Point                            | $1,320,000      | January 2009                             | Transfer    |
|   | Thornwood House                        | $1,775,000      | January 2009                             | Transfer    |

----

|   |                 |                  | Accrued Interest                                       |     |
|--------|----------------------|-----------------------|--------------------------------------------------------|----------|
|   |                 |                  |          as of |     |
|   | Property        |  Principal  |  March 31, 2010                                   | Maturity |
|   |                 |                  |                                                   |     |
|   | Westport Village (1) | $  840,000  |      $2,846,485                    | 09/01/99 |
|   | Pilgrim Tower East   |  1,450,000 (2)   |        4,967,195         | 11/30/03 |

----

|                |  Percentage of Total | Partnership's Share of                    |
|---------------------|---------------------------|-------------------------------------------|
|                | Distributions Received    |      Income from |
| For the Year Ending | from Local Partnerships   |   Local Partnerships            |
|                |                      |                                      |
| December 31, 2009   | 26.0%                     |      $174,162    |
| December 31, 2008   | 10.4%                     |    $57,257                 |

----

----

----

----

----

----

|                                      |   | For the three months ended |    |
|-------------------------------------------|--------|----------------------------|---------|
|                                      |   | March 31,                  |    |
|                                      |   | 2010                       |    |   | 2009 |   |
|                                      |   | Equity                     |    |   |   |   |   | Equity |   |   |   |   |
|                                      |   | Method                     |    |   | Suspended |   |   | Method |   |   | Suspended |   |
|                                      |   |                       |    |   |   |   |   |   |   |   |   |   |
| Number of Local Partnerships              |   |                       | 2       |   |   |   | 5 |   |   |   | 2 |   |   |   | 6 |   |
|                                      |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenue:                                  |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Rental                                    |   | $                          | 390,807 |   |   | $ | 1,710,571 |   |   | $ | 362,098 |   |   | $ | 1,799,944 |   |
| Other                                     |   |                       | 28,094  |   |   |   | 55,911 |   |   |   | 29,866 |   |   |   | 82,808 |   |
|                                      |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total revenue                             |   |                       | 418,901 |   |   |   | 1,766,482 |   |   |   | 391,964 |   |   |   | 1,882,752 |   |
|                                      |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                 |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                                 |   |                       | 309,224 |   |   |   | 1,082,433 |   |   |   | 278,656 |   |   |   | 1,143,425 |   |
| Interest                                  |   |                       | 592     |   |   |   | 406,179 |   |   |   | 10,343 |   |   |   | 422,322 |   |
| Depreciation and amortization             |   |                       | 79,331  |   |   |   | 337,830 |   |   |   | 77,232 |   |   |   | 355,101 |   |
|                                      |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total expenses                            |   |                       | 389,147 |   |   |   | 1,826,442 |   |   |   | 366,231 |   |   |   | 1,920,848 |   |
|                                      |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                         |   | $                          | 29,754  |   |   | $ | (59,960 | ) |   | $ | 25,733 |   |   | $ | (38,096 | ) |
|                                      |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash distribution                         |   | $                          | --      |   |   | $ | 61,298 |   |   | $ | -- |   |   | $ | -- |   |
|                                      |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash distribution recorded                |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| as income                                 |   |                       | --      |   |   |   | 61,298 |   |   |   | -- |   |   |   | -- |   |
|                                      |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Partnership's share of Local              |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Partnership net income |   | $                     | 29,454  |   |   | $ | -- |   |   | $ | 25,472 |   |   | $ | -- |   |
|                                      |   |                       |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Share of income from partnerships         |   | $90,752                    |    |   | $25,472 |   |
|                                      |   |                       |    |   |   |   |

----

----

----

----

|   |     Property  |  Principal |     Date   | Disposition |
|--------|----------------------------------------|-----------------|------------------------------------------|-------------|
|   |                                   |            |                                     |        |
|   | Cedar Point                            | $1,320,000      | January 2009                             | Transfer    |
|   | Thornwood House                        | $1,775,000      | January 2009                             | Transfer    |

|   |                 |                  | Accrued Interest                                       |     |
|--------|----------------------|-----------------------|--------------------------------------------------------|----------|
|   |                 |                  |          as of |     |
|   | Property        |  Principal  |  March 31, 2010                                   | Maturity |
|   |                 |                  |                                                   |     |
|   | Westport Village (1) | $  840,000  |      $2,846,485                    | 09/01/99 |
|   | Pilgrim Tower East   |  1,450,000 (2)   |        4,967,195         | 11/30/03 |

----

|                |  Percentage of Total | Partnership's Share of                    |
|---------------------|---------------------------|-------------------------------------------|
|                | Distributions Received    |      Income from |
| For the Year Ending | from Local Partnerships   |   Local Partnerships            |
|                |                      |                                      |
| December 31, 2009   | 26.0%                     |      $174,162    |
| December 31, 2008   | 10.4%                     |    $57,257                 |

----

----

| Item 4. |   | Controls and Procedures |
|---------|--------|-------------------------|

| Item 3. |   | Defaults upon Senior Securities |
|---------|--------|---------------------------------|

----

| Exhibit No. | Description |
|-------------|-------------|

| 31.1 | Certification of Principal Executive Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.2 | Certification of Principal Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32 | Certification of Principal Executive Officer and Principal Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|          |   | CAPITAL REALTY INVESTORS-IV LIMITED                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |   |     PARTNERSHIP                                                                                            |
|          |   | (Registrant)                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|          |   | by:    C.R.I., Inc.                                                                    |
|          |   | Managing General Partner                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| June 10, 2010 |   | by:     /s/ H. William Willoughby                                                                                                                                                                                                            |
| DATE          |   | H. William Willoughby                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|          |   | Director, President, Secretary,                                                                                                                                                                                                                                                                                                                                                                                                                           |
|          |   | Principal Financial Officer and                                                                                                                                                                                                                                                                                                                                                                                                                           |
|          |   | Principal Account Officer                                                                                                                                                                                                                                                                                                                                                                                                                                 |

----