FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   (Mark One)

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

                  For the quarterly period ended June 30, 1999

                                       OR

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

             For the transition period from ________ to ___________

                        Commission file number: 33-76970


                  WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P.,
                                    Series 4

California                                                           33-0601852
(State or other jurisdiction of                                (I.R.S. Employer
incorporation or organization)                               Identification No.)


               3158 Redhill Avenue, Suite 120 Costa Mesa, CA 92626

                                 (714) 662-5565


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
requirements for the past 90 days. Yes No X .



<PAGE>


              WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4
                       (A California Limited Partnership)

                               INDEX TO FORM 10-Q

                       For the Quarter Ended June 30, 1999


PART I. FINANCIAL INFORMATION

  Item 1. Financial Statements

    Balance Sheets
             June 30, 1999 and March 31, 1999.............................2

    Statements of Operations
             For the three months ended June 30, 1999 and 1998............3

    Statement of Partners' Equity
             For the three months ended June 30, 1999.....................4

    Statements of Cash Flows
             For the three months ended June 30, 1999 and 1998............5

    Notes to Financial Statements.........................................6

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

  Item 3.  Quantitative and Qualitative Disclosures
             Above Market Risks..........................................14


PART II. OTHER INFORMATION

  Item 1. Legal Proceeding...............................................15

  Item 6. Exhibits and Reports on Form 8-K...............................15

  Signatures.............................................................16


                                       1
<PAGE>


              WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4
                       (A California Limited Partnership)

                                 BALANCE SHEETS

                                                 June 30, 1999   March 31, 1999
                                                 -------------   --------------
                                                    (unaudited)

                                     ASSETS

Cash and cash equivalents                      $       691,656   $      675,871
Investment in limited partnerships - Note 2
                                                     6,704,443        6,899,934
                                                     ---------        ---------

                                               $     7,396,099   $    7,575,805
                                                     =========        =========


                                         LIABILITIES AND PARTNERS' EQUITY

Liabilities:
  Payable to limited partnership - Note 4      $       142,124   $      142,124
  Accrued fees and expenses due to
    general partner and affiliates - Note 3
                                                       (6,444)          (19,496)
                                                       -------         --------
Total liabilities
                                                       135,680          122,628
                                                       -------          -------

Partners' equity (deficit):
  General partner                                      (28,570)         (26,642)
  Limited partners (25,000 units authorized,
    11,500 issued and outstanding)
                                                     7,288,989        7,479,819
                                                     ---------        ---------
Total partners' equity
                                                     7,260,419        7,453,177
                                                     ---------        ---------
                                               $     7,369,099   $    7,575,805
                                                     =========        =========


                 See accompanying notes to financial statements
                                        2


<PAGE>
              WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4
                       (A California Limited Partnership)

                             STATEMENTS OF OPERATIONS

                For the Three Months Ended June 30, 1999 and 1998
                                   (unaudited)
                                                    1999                   1998
                                                    ----                   ----

Interest income                           $       (6,564)      $         14,987
Miscellaneous income                              21,580                      -
                                                --------               --------
                                                  15,016                 14,987
                                                --------               --------
Operating expenses:
  Amortization                                     6,394                  6,394
  Asset management fees - Note 3                   7,906                  7,906
  Legal and accounting                             9,021                  7,000
  Other                                           (3,075)                 3,997
                                                --------               --------

Total operating expenses                          20,246                 25,297
                                                --------               --------

Income (Loss) from operations                     (5,230)               (10,310)
                                                --------               --------

Equity in loss of limited partnerships          (187,528)              (194,152)
                                                --------               --------

Net loss                                        (192,758)              (204,463)
                                                ========               ========
Net loss allocated to:
  General partner                                 (1,928)                (2,045)
                                                ========               ========
  Limited partners                              (190,830)              (202,418)
                                                ========               ========
Net loss per limited partner units
 (11,500 units issued and outstanding)               (17)                   (18)
                                                ========               ========

                 See accompanying notes to financial statements
                                        3


<PAGE>
              WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4
                       (A California Limited Partnership)

                           STATEMENT OF OWNERS' EQUITY

                    For the Three Months Ended June 30, 1999
                                   (unaudited)
<TABLE>
<CAPTION>

                                                    General                 Limited
                                                    Partner                 Partners                   Total
                                                    -------                 -------                   -----

<S>                                     <C>                     <C>                     <C>
Equity (deficit), March 31, 1999        $           (26,642)    $         7,479,819     $         7,453,177

Net loss for the three months ended
  June 30, 1999                                      (1,928)               (190,830)               (192,758)
                                               ------------            ------------            ------------

Equity (deficit), June 30, 1999         $           (28,570)    $         7,288,989     $         7,260,419
                                               ============            ============            ============

</TABLE>


                 See accompanying notes to financial statements
                                        4

<PAGE>
              WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4
                       (A California Limited Partnership)

                             STATEMENTS OF CASH FLOWS

                For the Three Months Ended June 30, 1999 and 1998
                                   (unaudited)

<TABLE>
<CAPTION>
                                                              1999              1998
                                                              ----              ----
<S>                                                   <C>              <C>
Cash flows from operating activities:
  Net loss                                            $    192,758)    $    (204,463)
    Adjustments to reconcile net loss to net
      cash provided by (used in) operating activities:
        Equity in loss of limited partnerships             187,528           194,152
        Amortization                                         6,394             6,394
        Asset management fee                                 7,906            (7,906)
        Accrued fees and expense due to
           general partner and affiliates                    5,146           (10,509)
        Change in other assets                                   -            17,564
                                                           -------         ---------

Net cash from operating activities:                         14,216            (4,768)
                                                           -------         ---------

Cash flows from investing activities:
  Investments in limited partnerships                            -          (141,513)
  Distributions from limited partnerships                    1,569                 -
  Acquisition costs and fees                                     -            (1,585)
                                                           -------         ---------

Net cash provided by (used by) investing activities          1,569          (143,098)
                                                           -------         ---------


Net increase (decrease) in cash and cash equivalents        15,785          (147,866)
Cash and cash equivalents, beginning of period             675,871         1,161,152
                                                           -------         ---------
Cash and cash equivalents, end of period              $    691,656     $   1,013,286
                                                           =======         =========
</TABLE>

                 See accompanying notes to financial statements
                                        5



<PAGE>
              WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS

                                  June 30, 1999
                                   (unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

General

The information  contained in the following notes to the financial statements is
condensed  from that  which  would  appear in the annual  financial  statements;
accordingly,  the  financial  statements  included  herein should be reviewed in
conjunction  with the audited  financial  statements  and related  notes thereto
contained  in the  Partnership's  Annual  Report on Form 10-K for the year ended
March 31, 1999 (audited).

In  the  opinion  of  the  Partnership,  the  accompanying  unaudited  financial
statements  contain  all  adjustments   (consisting  of  only  normal  recurring
accruals) necessary to present fairly the financial position as of June 30, 1999
and the results of  operations  and  changes in cash flows for the three  months
then ended.  Accounting measurements at interim dates inherently involve greater
reliance  on  estimates  than at year end.  The  results of  operations  for the
interim period  presented are not necessarily  indicative of the results for the
entire year.

Organization

WNC  California  Housing Tax Credits IV,  L.P.,  Series 4 a  California  Limited
Partnership (the "Partnership"),  was formed on February 16, 1994 under the laws
of the  State  of  California,  and  began  operations  on July  26,  1994.  The
Partnership was formed to invest  primarily in other limited  partnerships  (the
"Local  Limited   Partnership")  which  own  and  operate  multi-family  housing
complexes  (the  "Housing  Complex")  that are eligible  for low income  housing
credits. The local general partners (the "Local General Partners") of each Local
Limited  Partnership  retain  responsibility  for  maintaining,   operating  and
managing the Housing Complex.

The  general  partner is WNC  California  Tax Credit  Partners,  IV,  L.P.  (the
"General Partner"),  a California limited  partnership.  WNC & Associates,  Inc.
("WNC") is the general partner of the General Partner.  Wilfred N. Cooper,  Sr.,
through the Cooper Revocable Trust,  owns 66.8% of the outstanding stock of WNC.
John B. Lester,  Jr. was the original  limited  partner of the  Partnership  and
owns, through the Lester Family Trust, 28.6% of the outstanding stock of WNC.

The  Partnership  Agreement  authorized the sale of up to 25,000 units at $1,000
per Unit ("Units"). The offering of Units concluded in August 1995 at which time
11,500  Units  representing  subscriptions,  net of  discounts  of $400,950  for
purchases of 100 units or more, in the amount of $11,099,050  had been accepted.
The General Partner has a 1% interest in operating  profits and losses,  taxable
income and losses,  in cash available for distribution  from the Partnership and
tax credits of the  Partnership.  The limited  partners  will be  allocated  the
remaining 99% of these items in proportion to their respective investments.

After the limited  partners  have received  proceeds from a sale or  refinancing
equal to their capital  contributions and their return on investment (as defined
in the  Partnership  Agreement)  and the General  Partner has received  proceeds
equal  to its  capital  contribution  and a  subordinated  disposition  fee  (as
described in Note 3) from the  remainder,  any  additional  sale or  refinancing
proceeds will be distributed 90% to the limited partners (in proportion to their
respective investments) and 10% to the General Partner.

                                       6
<PAGE>
              WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                                  June 30, 1999
                                   (unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED

Risks and Uncertainties

The Partnership's  investments in Local Limited  Partnerships are subject to the
risks incident to the management and ownership of low-income  housing and to the
management and ownership of multi-unit  residential  real estate.  Some of these
risks  are that the low  income  housing  credit  could be  recaptured  and that
neither the  Partnership's  investments  nor the Housing  Complexes owned by the
Local Limited Partnerships will be readily marketable. To the extent the Housing
Complexes  receive  government  financing  or operating  subsidies,  they may be
subject to one or more of the following risks: difficulties in obtaining tenants
for the Housing Complexes; difficulties in obtaining rent increases; limitations
on cash distributions; limitations on sales or refinancing of Housing Complexes;
limitations on transfers of Local Limited Partnership Interests;  limitations on
removal of Local  General  Partners;  limitations  on  subsidy of Local  Limited
Partnership  Interests;  limitations  on  removal  of  Local  General  Partners;
limitations on subsidy programs; and possible changes in applicable regulations.
The  Housing  Complexes  are or will be subject to mortgage  indebtedness.  If a
Local Limited Partnership does not make its mortgage payments,  the lender could
foreclose  resulting  in a loss of the Housing  Complex  and low income  housing
credits. As a limited partner of the Local Limited Partnerships, the Partnership
will have very limited  rights with respect to  management  of the Local Limited
Partnerships,  and will rely totally on the Local General  Partners of the Local
Limited Partnerships for management of the Local Limited Partnerships. The value
of the  Partnership's  investments  will be subject to changes in  national  and
local  economic  conditions,  including  unemployment  conditions,  which  could
adversely impact vacancy levels, rental payment defaults and operating expenses.
This, in turn, could substantially increase the risk of operating losses for the
Housing  Complexes  and  the  Partnership.   In  addition,  each  Local  Limited
Partnership  is subject to risks relating to  environmental  hazards and natural
disasters which might be uninsurable.  Because the Partnership's operations will
depend on these and other factors beyond the control of the General  Partner and
the Local General  Partners,  there can be no assurance that the anticipated low
income housing credits will be available to Limited Partners.

In addition,  Limited  Partners are subject to risks in that the rules governing
the low income  housing  credit are  complicated,  and the use of credits can be
limited.  The only  material  benefit from an investment in Units may be the low
income housing credits. There are limits on the transferability of Units, and it
is unlikely that a market for Units will develop.  All management decisions will
be made by the General Partner.

Method of Accounting For Investments in Limited Partnerships

The Partnership  accounts for its investments in limited  partnerships using the
equity method of  accounting,  whereby the  Partnership  adjusts its  investment
balance for its share of the Local Limited  Partnership's  results of operations
and for any distributions received. The accounting policies of the Local Limited
Partnership's  are consistent with those of the  Partnership.  Costs incurred by
the  Partnership  in  acquiring  the  investment  in  limited  partnerships  are
capitalized  as part of the investment  account and are being  amortized over 30
years.

                                       7

<PAGE>
              WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                                  June 30, 1999
                                   (unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED

Offering Expenses

Offering  expenses consist of underwriting  commissions,  legal fees,  printing,
filing and  recordation  fees,  and other costs  incurred  with selling  limited
partnership  interests in the  Partnership.  The General Partner is obligated to
pay all  offering  and  organization  costs in  excess of 15%  (including  sales
commissions) of the total offering proceeds.  Offering expenses are reflected as
a reduction of partners'  capital and amounted to $1,312,054,  at the end of all
periods presented.

Use of Estimates

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amounts  of assets  and  liabilities  and  disclosure  of
contingent assets and liabilities at the date of the financial  statements,  and
the  reported  amounts of revenues  and expenses  during the  reporting  period.
Actual results could materially differ from those estimates.

Cash and Cash Equivalents

The Partnership considers highly liquid investments with remaining maturities of
three months or less when purchased to be cash equivalents.  As of June 30, 1999
the Partnership had cash equivalents of $623,903.

Net Loss Per Limited Partner Unit

Net loss per limited  partnership  unit is  calculated  pursuant to Statement of
Financial  Accounting  Standards No. 128,  Earnings Per Share. Net loss per unit
includes no dilution  and is computed  by  dividing  loss  available  to limited
partners by the weighted average number of units outstanding  during the period.
Calculation of diluted net income per unit is not required.

NOTE 2 - INVESTMENT IN LIMITED PARTNERSHIPS

As of the periods  presented,  the Partnership had acquired limited  partnership
interests  in nine Local  Limited  Partnerships  each of which owns one  Housing
Complex  consisting  of an  aggregate of 298  apartment  units.  The  respective
general  partners  of the  Local  Limited  Partnerships  manage  the  day-to-day
operations  of the entities.  Significant  Local  Limited  Partnership  business
decisions require approval from the Partnership.  The Partnership,  as a limited
partner,  is  generally  entitled  to 99%,  as  specified  in the Local  Limited
Partnership agreements,  of the operating profits and losses, taxable income and
losses and tax credits of the Local Limited Partnerships.

Equity  in  losses  of the  Local  Limited  Partnerships  is  recognized  in the
financial  statements until the related  investment account is reduced to a zero
balance. Losses incurred after the investment account is reduced to zero are not
recognized. If the Local Limited Partnerships report net income in future years,
the  Partnership  will resume applying the equity method only after its share of
such net  income  equals  the share of net  losses  not  recognized  during  the
period(s) the equity method was suspended.

                                       8
<PAGE>
              WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                                  June 30, 1999
                                   (unaudited)

NOTE 2 - INVESTMENT IN LIMITED PARTNERSHIPS - CONTINUED

The Partnership,  as a limited partner,  is entitled to 99%, as specified in the
partnership  agreements,  of the  operating  profits  and losses of the  limited
partnerships upon the acquisition of its limited partnership interest. Following
is a summary of the components of investment in limited partnerships as of:
<TABLE>
<CAPTION>
                                                        June 30, 1999     March 31, 1999
                                                        -------------     --------------
<S>                                                     <C>                <C>
Investment beginning of period                          $   6,899,934      $   6,845,203
Total capital contributions made and accrued with
  net of tax credit adjustments                                     -            201,611
Distributions from limited partnerships                        (1,569)            (3,378)
Capital contribution payable                                        -             50,378
Increase in capitalized acquisition fees and costs                  -                 27
Amortization of acquisition fees and costs                     (6,394)            (6,379)
Equity in loss of limited partnerships                       (187,528)          (187,528)
                                                            ---------          ---------

Investment, end of  period                              $   6,704,443      $   6,899,934
                                                            =========          =========

Selected  financial  information  from the  financial  statements of the limited
partnerships with operations for the three months ended June 30 is as follows:

                                                                 1999               1998
                                                                 ----               ----

 Total revenue                                          $     267,000      $     266,000
                                                            ---------          ---------
 Expenses:
   Operating expenses                                         178,000            173,000
   Interest expense                                           122,000            128,000
   Depreciation                                               156,000            162,000
                                                            ---------          ---------
 Total expenses                                               456,000            463,000
                                                            ---------          ---------

 Net loss                                               $    (189,000)     $    (197,000)
                                                            =========          =========

 Net loss allocable to Partnership                      $    (188,000)     $    (195,000)
                                                            =========          =========

 Net loss recognized by the Partnership                 $    (187,528)     $    (194,152)
                                                            =========          =========
</TABLE>

                                       9


<PAGE>
             WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                                  June 30, 1999
                                   (unaudited)

NOTE 3 - RELATED PARTY TRANSACTIONS

(a)  Annual Asset  Management Fee. An annual asset management fee the greater of
     (i)  $2,000  per  multi-family  housing  complex,  or (ii)  0.275% of Gross
     Proceeds. The base fee amount will be adjusted annually based on the change
     in the  Consumer  Price Index.  However,  in no event will the annual asset
     management fee exceed 0.2% of Invested Assets.  "Invested Assets" means the
     sum of the Partnership's  investment in Local Limited  Partnerships and the
     Partnership's  allocable share of the amount of the indebtedness related to
     the Housing Complexes. Fees of $7,900 were incurred during the three months
     ended June 30, 1999 and 1998. The  Partnership  paid the General Partner or
     its  affiliates  $0 and $7,900 of those fees during the three  months ended
     June 30, 1999 and 1998, respectively.

(b)  Subordinated  Disposition Fee. A subordinated  disposition fee in an amount
     equal to 1% of the  sale  price  received  in  connection  with the sale or
     disposition of a Housing  Complex.  Subordinated  disposition  fees will be
     subordinated  to  the  prior  return  of  the  Limited   Partners'  capital
     contributions  and  payment  of the  Return on  Investment  to the  Limited
     Partners.  "Return  on  Investment"  means an  annual,  cumulative  but not
     compounded,  "return" to the Limited Partners (including Low Income Housing
     Credits) as a class on their adjusted capital contributions  commencing for
     each Limited  Partner on the last day of the calendar  quarter during which
     the Limited Partner's capital  contribution is received by the Partnership,
     calculated at the following  rates:  (i) 14% through December 31, 2005, and
     (ii) 6% for the balance of the Partnership's term. No disposition fees have
     been paid.

(c)  Interest  in  Partnership.   The  General   Partners   receive  1%  of  the
     Partnership's  allocated Low Income  Housing  Credits,  which  approximated
     $19,000 for the General  Partner for the year ended  December 31, 1998. The
     General  Partners  are also  entitled to receive 1% of cash  distributions.
     There were no  distributions  of cash to the  General  Partners  during the
     three  months  ended  June 30 1999 or  1998.  Receivables  from  affiliates
     consists  primarily of amounts due from WNC California  Housing Tax Credits
     IV, L.P. Series 5 related to the allocation of offering expenses  incurred,
     as defined in the Partnership Agreement.

Accrued fees and advances due to affiliates of the General  Partner  included in
the  accompanying  balance sheet  consists of the following at June 30, 1999 and
1998:

                                                   1999                 1998
                                                   ----                 ----

Reimbursement for expenses paid by
  the General Partner or an affiliate       $     8,136       $        2,990

Asset management fees                           (14,580)             (22,486)
                                               --------             --------

                                            $    (6,444)      $      (19,496)
                                               ========             ========


                                       10
<PAGE>
             WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED

                                  June 30, 1999
                                   (unaudited)

NOTE 4 - PAYABLE TO LIMITED PARTNERSHIPS

Payable to limited partnerships represent amounts which are due at various times
based on conditions specified in the respective limited partnership  agreements.
These contributions are payable in installments,  generally due upon the limited
partnerships  achieving certain operating  benchmarks and are generally expected
to be paid within two years of the Partnership's initial investment.

NOTE 5 - INCOME TAXES

The  Partnership  will not make a provision  for income taxes since all items of
taxable income and loss will be allocated to the partners for inclusion in their
respective income tax returns.




                                       11

<PAGE>

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

Financial Condition

The  Partnership's  assets at June 30, 1999  consisted  primarily of $692,000 in
cash  and  aggregate  investments  in the  ten  Local  Limited  Partnerships  of
$6,704,000.  Liabilities at June 30, 1999 primarily consisted of $142,000 due to
limited partnerships.

Results of Operations

Three Months  Ended June 30, 1999  Compared to Three Months Ended June 30, 1998.
The  Partnership's  net loss  for the  three  months  ended  June  30,  1999 was
$(193,000),  reflecting a decrease of $11,000 from the net loss  experienced for
the three months  ended June 30, 1998.  The decline in net loss is due to equity
in losses of limited  partnerships  which  decreased by $6,000 to $(188,000) for
the three month period ended June 30, 1999 from  $(194,000)  for the three month
period ended June 30, 1998 and loss from operations which decreased by $5,000 to
$(5,000) for the three month period ended June 30, 1999 from  $(10,000)  for the
three month period ended June 30, 1998.

Cash Flows

Three Months  Ended June 30, 1999  Compared to Three Months Ended June 30, 1998.
Net  increase  in cash during the three  months  ended June 30, 1999 was $16,000
compared to a net  decrease in cash for the three  months ended June 30, 1998 of
$(148,000).  The  change  was  due  to a  decrease  in  investments  in  limited
partnerships of $142,000, a decrease in cash paid to third parties of $15,000, a
decrease in operating  expenses of $5,000, and an increase in distributions from
limited partnerships of $2,000.

During the three months ended June 30, 1999 and 1998, accrued receivables, which
include  prepaid related party  management fees due to Associates,  decreased by
$7,900 due primarily to payment of management fees during the three months ended
March 31, 1999.

The Partnership  expects its future cash flows,  together with its net available
assets at June 30,  1999,  to be  sufficient  to meet all  currently  forseeable
future cash requirements.

IMPACT OF YEAR 2000

WNC & Associates, Inc.

Status of Readiness

Information Technology (IT) Systems. The Partnership relies on the IT systems of
WNC, its ultimate  general  partner.  IT systems include  computer  hardware and
software  used to produce  financial  reports and tax return  information.  This
information  is then  used to  generate  reports  to  investors  and  regulatory
agencies, including the Internal Revenue Service and the Securities and Exchange
Commission. The IT systems of WNC are year 2000 compliant.

Non-IT Systems. The Partnership also relies on the non-IT systems of WNC. Non-IT
systems  include  machinery and  equipment  such as  telephones,  voice mail and
electronic  postage  equipment.  Except  for one  telephone  system,  the non-IT
systems of WNC are year 2000  compliant.  The one telephone  system will require
the replacement of one computer and one software application, both of which will
be completed on or before October 1, 1999.

                                       12
<PAGE>
Service  Providers.  WNC also  relies on the IT and  non-IT  systems  of service
providers. Service providers include utility companies,  financial institutions,
telecommunications carriers,  municipalities, and other outside vendors. WNC has
obtained verbal assurances from its material service providers (electrical power
provider,  financial institutions and telecommunications carriers) that their IT
and non-IT systems are year 2000 compliant.  There can be no assurance that this
compliance  information  is  correct.  There also can be no  assurance  that the
systems of other,  less-important  service providers and outside vendors will be
year 2000 compliant.

Costs to Address Year 2000 Issues

The cost to address  year 2000  issues for WNC has been less than  $20,000.  The
cost to replace the telephone  system noted above will be less than $5,000.  The
cost to deal with potential year 2000 issues of other outside  vendors cannot be
estimated at this time.

Risk of Year 2000 Issues

The most  reasonable and likely result from non-year 2000  compliance of systems
of the service  providers  noted above will be the disruption of normal business
operations for WNC. This disruption would, in turn, lead to delays in performing
reporting and fiduciary responsibilities on behalf of the Partnership. The worst
case scenario would be the replacement of a service provider. These delays would
likely  be  temporary  and  would  likely  not  have a  material  effect  on the
Partnership or WNC.

Local Limited Partnerships

Status of Readiness

WNC is in the  process of  obtaining  year 2000  certifications  from each Local
General Partner of each Local Limited  Partnership.  Those  certifications  will
represent  to the  Partnership  that the IT and non-IT  systems  critical to the
operation of the Housing Complexes and investor reporting to the Partnership are
year 2000 compliant. These certifications will also represent to the Partnership
that the IT and non-IT  systems of property  management  companies,  independent
accountants,    electrical   power   providers,   financial   institutions   and
telecommunications  carriers used by the Local Limited Partnership are year 2000
compliant.

There can be no assurance that the representations in the certifications will be
correct.   There  also  can  be  no   assurance   that  the  systems  of  other,
less-important  service  providers  and  outside  vendors,  upon which the Local
Limited Partnerships rely, will be year 2000 compliant.

Costs to Address Year 2000 Issues

There  will be no cost to the  Partnership  as a result of  assessing  year 2000
issues for the Local Limited Partnerships.  The cost to deal with potential year
2000 issues of the Local Limited Partnerships cannot be estimated at this time.

Risk of Year 2000 Issues

There may be Local  General  Partners who indicate  that they or their  property
management  company are not year 2000  compliant and do not have plans to become
year 2000  compliant  before the end of 1999.  There may be other Local  General
Partners who are  unwilling to respond to the  certification  request.  The most
likely result of either non-compliance or failure to respond will be the removal
and  replacement  of the property  management  company  and/or the Local General
Partner with year 2000 compliant operators.

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<PAGE>

Despite the efforts to obtain certifications, there can be no assurance that the
Partnership  will be unaffected  by year 2000 issues.  The most  reasonable  and
likely  result from non-year 2000  compliance  will be the  disruption of normal
business  operations  for the  Local  Limited  Partnerships,  including  but not
limited  to the  possible  failure  to  properly  collect  rents and meet  their
obligations in a timely manner.  This disruption  would, in turn, lead to delays
by  the  Local  Limited  Partnerships  in  performing  reporting  and  fiduciary
responsibilities  on behalf of the  Partnership.  The worst-case  scenario would
include the  initiation of  foreclosure  proceedings on the property by mortgage
debt holders. Under these circumstances, WNC or its affiliates will take actions
necessary  to  minimize  the risk of  foreclosure,  including  the  removal  and
replacement of a Local General  Partner by the  Partnership.  These delays would
likely  be  temporary  and  would  likely  not  have a  material  effect  on the
Partnership or WNC.

Item 3.  Quantitative and Qualitative Disclosures About Market Risks

         NOT APPLICABLE






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<PAGE>



Part II. Other Information

Item 1.  Legal Proceedings

         NONE

Item 6.  Exhibits and Reports on Form 8-K

1.       A report on Form 8-K dated May 13, 1999 was filed on May 14, 1999
         reporting the change in fiscal year end to March 31.






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<PAGE>




Pursuant  to the  requirements  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.

WNC CALIFORNIA HOUSING TAX CREDITS IV, L.P., Series 4

By:    WNC & ASSOCIATES, INC.       General Partner



By: /s/ John B. Lester, Jr.

John B. Lester, Jr., President
WNC & Associates, Inc.

Date: August 26, 1999



By:  /s/ Michael L. Dickenson

Michael L. Dickenson, Vice-President - Chief Financial Officer
WNC & Associates, Inc.

Date: August 26, 1999







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