UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                        WASHINGTON, DC.  20549
                               FORM 10-K


(Mark One)
[X]  ANNUAL  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE  SECURITIES
EXCHANGE ACT OF 1934

For the fiscal year ended         December 31, 2003
                         ---------------------------------------------

                                  or
[   ]  TRANSITION  REPORT  PURSUANT TO SECTION  13  OR  15(d)  OF  THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________________ to _________________

Commission file number                 33-11907
                       -----------------------------------------------

                     DIVERSIFIED HISTORIC INVESTORS IV
----------------------------------------------------------------------
        (Exact name of registrant as specified in its charter)

     Pennsylvania                                        23-2440837
-------------------------------                    -------------------
(State or other jurisdiction of                    (I.R.S. Employer
incorporation or organization)                     Identification No.)

                1521 Locust Street, Philadelphia, PA  19102
----------------------------------------------------------------------
(Address of principal executive offices)             (Zip Code)

Registrant's telephone number, including area code    (215) 557-9800
                                                    ------------------

Securities registered pursuant to Section 12(b) of the Act:   NONE
                                                            ----------

Securities registered pursuant to section 12(g) of the Act: 8,285.7 Units
                                                            ------------

                 Units of Limited Partnership Interest
----------------------------------------------------------------------
                           (Title of Class)

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
                                                     -----       -----

Indicate by check mark if disclosure of delinquent filers pursuant  to
Item  405 of Regulation S-K is not contained herein, and will  not  be
contained  to the best of registrant's knowledge, in definitive  proxy
or  information statements incorporated by reference in  Part  III  of
this Form 10-K or any amendment to this Form 10-K.  [X]

Aggregate  market  value  of  Units  held  by  non-affiliates  of  the
Registrant:                                           Not Applicable *
                                                      ----------------
*Securities not quoted in any trading market to Registrant's knowlege.

Indicate by check mark whether the registrant is an accelerated filer
(as defined in Rule 12b-2 of the Act).   Yes ___ No_X_

This  Form  10-K  contains "unaudited" financial  statements  for  the
period ended December 31, 2003. Refer to the Explanatory Note on  page
2.

<PAGE>


                           EXPLANATORY NOTE
                           ----------------

Diversified  Historic Investors IV  (the "Registrant") is  filing  the
following Annual Report on Form 10-K for the period ended December 31,
2003 containing "unaudited" consolidated financial statements.

On  July  11th,  2005  the Securities and Exchange Commission  ("SEC")
notified  the  Registrant of its non-compliance in  meeting  reporting
requirements  under  Section  13(a) or 15(d)  of  the  Securities  and
Exchange Act of 1934. The Registrant's inability to meet its reporting
requirements  is due to the dissolution of its former  auditor,  Gross
Kreger  &  Passio, LLC. This event was discussed in Item 4.01  of  the
Registrant's Form 8-K filed on June 27th, 2005.

The  Registrant recently engaged a new firm, Russell Bedford  Stefanou
Mirchandani,  LLP  to  audit and review the  Registrants'  outstanding
consolidated financial statements. The audit fieldwork began  in  July
2005;  however, because of the time expected to be involved in  having
the  new  auditor  perform the audit and review  of  the  consolidated
financial statements, the Registrant cannot advise as to the  date  of
completion of the audit and the filing date of the amendment  to  this
quarterly  report. The Registrant will endeavor to proceed  with  this
audit as expeditiously as possible.

In  the  interim, the Registrant is filing the consolidated  financial
statements,  for  the  period  ended  December  31,  2003,   contained
throughout  this annual report as "unaudited" and has  furnished  such
financial statements without a Certified Independent Auditor's Report.
The  Registrant  intends to make its report fully compliant  with  SEC
rules  and  promptly thereafter will file an amendment to this  report
with the SEC.

<PAGE>

                                PART I
                                ------

Item 1.   Business
          --------

          a. General Development of Business

              Diversified  Historic Investors IV ("Registrant")  is  a
limited  partnership  formed in 1987 under Pennsylvania  law.   As  of
December 31, 2003, Registrant had outstanding 8,285.7 units of limited
partnership interest (the "Units").

              Registrant  is  presently in its  operating  stage.   It
originally owned three properties or interests therein.  One  property
has  been  sold.   It  currently  owns two  properties.  See  Item  2.
Properties,  for  a  description thereof.  For  a  discussion  of  the
operations  of  the  Registrant, See Part  II,  Item  7.  Management's
Discussion  and  Analysis  of  Financial  Condition  and  Results   of
Operations.

          b. Financial Information about Industry Segments

             The Registrant operates in one industry segment.

          c. Narrative Description of Business

              Registrant  is  in  the business of operating,  holding,
selling,  exchanging and otherwise dealing in and with real properties
containing  improvements that are "Certified Historic Structures,"  as
such term is defined in the Internal Revenue Code (the "Code") for use
as   apartments,  offices,  hotels  and  commercial  spaces,  or   any
combination thereof, or low income housing eligible for the tax credit
provided  by  Section  42  of the Code, and such  other  uses  as  the
Registrant's general partner may deem appropriate.

              Since  the  Registrant's inception, all  the  properties
either  acquired by the Registrant, or the subsidiary partnerships  in
which  it  has  an interest, have been rehabilitated and certified  as
historic  structures  and  have received the  related  investment  tax
credit.   All the properties are held for rental operations.  At  this
time it is anticipated that the two remaining properties will continue
to be held for this purpose until such time as real property values in
  the  areas in which these properties are located begin to  increase.
At  that time, the Registrant will re-evaluate its investment strategy
regarding the properties.

             As of December 31, 2003, Registrant owned two properties,
one  each  located in North Carolina and Pennsylvania. In  total,  the
properties contain 22 apartment units.  As of December 31, 2003, 21 of
the  apartment units were under lease at monthly rental rates  ranging
from  $413 to $1,150.  Rental of the apartments is not expected to  be
seasonal.   For a further discussion of the properties,  see  Item  2.
Properties.

              The Registrant is affected by and subject to the general
competitive conditions of the residential real estate industry.  As  a
result   of  the  overbuilding  that  occurred  in  the  1980's,   the
competition  for  residential tenants in the local markets  where  the
Registrant's   properties  are  located  is  generally   strong.   The
properties  held for rental by the Registrant are located in  the  Old
City  Historic  District  in Philadelphia, Pennsylvania  and  Concord,
North  Carolina. In both areas there are several similar  historically
certified  rehabilitated buildings. However, there is no  organization
which  holds a dominant position in the residential housing market  in
either  of  the geographic areas in which the Registrant's  properties
are located. The apartment market remains stable in both areas and new
construction remains virtually nonexistent in Concord, North  Carolina
although  the  availability  of favorable home  financing  has  placed
pressure  on the rental tenant base. The Registrant is able  to  raise
rental rates and stay fully occupied in the Philadelphia property  but
at  the same time, competitive pressure exists from other buildings in
the Old City area and the emerging Northern Liberties neighborhood.

             Registrant has no employees.  Registrant's activities are
overseen  by  Brandywine Construction & Management, Inc., ("BCMI"),  a
real estate management firm.

            d.   Financial  Information  About  Foreign  and  Domestic
Operations and Export Sales.

             See Item 8. Financial Statements and Supplementary Data.


Item 2.   Properties
          ----------

          As of December 31, 2003, Registrant owned two properties, or
interests therein, as follows:

           a.  The Brass Works - consists of 12 apartments located  at
231-237  Race  Street,  Philadelphia,  Pennsylvania.   In  May   1987,
Registrant  acquired  and  rehabilitated the Property  for  $1,200,000
($111 per square foot)("sf") funded by its equity contribution.

              The  property is managed by BCMI.  At December 31, 2003,
11  of  the apartment units were under lease (92%) with monthly  rents
ranging  from  $875  to  $1,150.  All leases are  renewable,  one-year
leases.  The occupancy for the previous four years was 92%  for  2002,
99%  for  2001,  100% for 2000 and 100% for 1999. The  monthly  rental
range for the previous four years was $850 to $1,125 during 2002, $650
to  $1,095  during 2001, $650 to $925 during 2000, and  $690  to  $875
during  1999. The monthly rental range increased to its present  level
due  to  the  increase in popularity of the Old City  neighborhood  in
which  the  property  is  located, and the sustained  ability  of  the
property  to  be fully occupied (other than transitory  vacancies)  at
increasing  monthly rental rates. For tax purposes, the  building  and
land  have  a  federal  tax basis of $1,135,324 and  the  building  is
depreciated using the straight-line method with a useful life of  27.5
years. The annual real estate taxes are $12,694, which is based on  an
assessed value of $153,600 taxed at a rate of $82.64 per $100. No  one
tenant occupies ten percent or more of the building. It is the opinion
of  the  management of the Registrant that the property is  adequately
covered by insurance.

           b.  Locke Mill Plaza - consists of 10 residential apartment
condominium units in a 169 condominium unit project located on Buffalo
Avenue  at Union Street in Concord, North Carolina. In November  1988,
Registrant  acquired  the  units for $665,000  funded  by  its  equity
contribution.

              The  property  is managed by BCMI.  As of  December  31,
2003, 10 units were under lease (100%) with monthly rates ranging from
$413 to $560. All leases are renewable, one-year leases. The occupancy
as  of year end for the previous four years was 80% for 2002, 100% for
2001,  60%  for 2000, and 80% for 1999. The monthly rental  range  was
$500  to $560 for 2002, 2001 and 2000 and $525 to $560 for 1999.   For
tax  purposes,  the  building and land have a  federal  tax  basis  of
$664,252  and  the  building is depreciated  using  the  straight-line
method with a useful life of 27.5 years. The annual real estate  taxes
are $4,803 which is based on an assessed value of $475,550 taxed at  a
rate of $1.01 per $100.  No one tenant occupies ten percent or more of
the  building.  It is the opinion of the management of the  Registrant
that the property is adequately covered by insurance.


Item 3.   Legal Proceedings
          -----------------

           To the best of its knowledge, Registrant is not a party to,
nor  is any of its property the subject of, any pending material legal
proceeding.

Item 4.   Submission of Matters to a Vote of Security Holders

           No matter was submitted during the fiscal years covered  by
this report to a vote of security holders.

<PAGE>

                                PART II
                                -------

Item   5.     Market  for  Registrant's  Common  Equity  and   Related
              Stockholder Matters
              --------------------------------------------------------

           a.  There is no established public trading market  for  the
Units.   Registrant does not anticipate any such market will  develop.
Trading  in the Units occurs solely through private transactions.  The
Registrant  is  not  aware  of  the  prices  at  which  trades  occur.
Registrant's records indicate that 33 units were sold or exchanged  in
2003.

           b. As of December 31, 2003, there were 1,013 record holders
of Units.

          c.   Registrant did not declare any cash dividends in 2003 or 2002.

Item 6.   Selected Financial Data

          The following selected financial data are for the five years
ended  December 31, 2003. The data should be read in conjunction  with
the  consolidated financial statements included elsewhere herein. This
data is not covered by the independent auditors' report.

                    2003        2002        2001        2000        1999
                    ----        ----        ----        ----        ----
                 Unaudited

Rental income   $  208,819  $  199,638  $  203,679  $  188,729  $  194,123
Interest income      2,792       5,604       8,944      10,061      11,328
Net loss         (126,413)    (116,040)    (69,298)    (86,597)    (92,209)
Net loss per unit  (15.10)      (13.86)      (8.28)     (10.35)     (11.02)
Total assets
 (net of
 depreciation
 and
 amortization)  1,270,581    1,411,051    1,520,361   1,590,514  1,675,218
Dividends
 distributions)         0            0            0           0    276,190

Note: See Part II, Item 7(3) Results of Operations for a discussion of
factors  which materially affect the comparability of the  information
reflected in the above tables.


Item 7.   Management's Discussion and Analysis of Financial
          Conditions and Results of Operations
          -------------------------------------------------

          (1)  Liquidity

               At   December  31,  2003,  Registrant   had   cash   of
approximately $249,100.  The Registrant expects that those funds  plus
the cash generated from operations at each property will be sufficient
to fund the operating expenses of the properties.

              As  of December 31, 2003, Registrant had restricted cash
of  $26,761  consisting primarily of funds held as security  deposits,
replacement   reserves,  escrows  for  taxes  and  insurance.   As   a
consequence of these restrictions as to use, Registrant does not  deem
these funds to be a source of liquidity.

          (2)  Capital Resources

             Any capital expenditures needed are generally replacement
items  and  are  funded  out  of cash from operations  or  replacement
reserves,  if  any. The Registrant is not aware of any  factors  which
would cause historical capital expenditure levels not to be indicative
of  capital  requirements  in the future  and  accordingly,  does  not
believe  that  it  will have to commit material resources  to  capital
investments for the foreseeable future.

          (3)  Results of Operations

              During  2003, Registrant incurred a net loss of $126,413
($15.10  per limited partnership unit) compared to a loss of  $116,040
($13.86  per limited partnership unit) in 2002 and a loss  of  $69,298
($8.28 per limited partnership unit) in 2001.

             Rental income was $208,819 in 2003, $199,638 in 2002, and
$203,679 in 2001. The increase in rental income from 2002 to  2003  is
due  to an increase in average occupancy at Brass Works (96% to  91%),
partially offset by a decrease in average rental rates at Locke  Mill.
The  decrease in rental income from 2001 to 2002 is due to a  decrease
in  average  occupancy at Locke Mill (88% to 80%) and  a  decrease  in
average occupancy at the Brass Works (99% to 91%).

              Interest income was $2,792 in 2003, $5,604 in 2002,  and
$8,944 in 2001. The decrease in interest income from both 2002 to 2003
and  from  2001 to 2002 is due to a decrease in average invested  cash
balances and a decrease in interest rates on money market accounts.

              Rental operations expense was $152,112 in 2003, $151,436
in  2002,  and  $117,380 in 2001. The increase  in  rental  operations
expense  from 2002 to 2003 is due to an increase in insurance  expense
at  Brass Works and Locke Mill, an increase in maintenance expense and
utilities  expense at Brass Works and an increase in condominium  fees
at  Locke Mill, partially offset by a decrease in maintenance  expense
and  wages  and  salaries at Locke Mill.  The  increase  in  insurance
expense  at  Brass  Works and Locke Mill is due  to  insurance  market
conditions. The increase in maintenance expense at Brass Works is  due
to  an increase in maintenance service and snow removal.  The increase
in  utilities  expense  at  Brass Works  is  due  to  an  increase  in
electricity,  water  and sewer charges.  The increase  in  condominium
fees  are  due to an increase in budgeted operating expenses at  Locke
Mill.  The decrease in maintenance expense at Locke Mill is due  to  a
decrease in apartment painting and maintenance supplies.  The decrease
in  wages  and salaries expense at Locke Mill is due to a decrease  in
maintenance wages. The increase in rental operations expense from 2001
to  2002 is due to an increase in insurance expense at Brass Works and
Locke  Mill,  an increase in maintenance expense, leasing  commissions
and  real  estate tax expense at the Brass Works, and an  increase  in
wages  and  salaries  and  condominium fees,  partially  offset  by  a
decrease  in  leasing  commissions at  Locke  Mill.  The  increase  in
insurance  expense  at  the  Brass Works and  Locke  Mill  is  due  to
insurance  market conditions. The increase in maintenance expense  and
leasing  commissions  at the Brass Works is  due  to  an  increase  in
turnover  of apartment units. The increase in real estate tax  expense
at  the  Brass Works is due to an increase in the property's appraised
value on which the taxes are based. The increase in wages and salaries
expense at Locke Mill is due to an increase in maintenance wages.  The
increase  in  condominium  fees are due to  an  increase  in  budgeted
operating  expenses at Locke Mill. The decrease in leasing commissions
at Locke Mill is due to a decrease in turnover of apartment units.

                  Bad  debt expense was $15,823 in 2003 and $2,816  in
2002  due  to  the write-off of tenant accounts receivable  that  were
deemed uncollectible.

              General and administrative expense was $72,000 in  2003,
2002 and 2001.
             During 2003, a loss of approximately $20,000 was incurred
at   the   Registrants  three  properties  compared  to  a   loss   of
approximately $11,000 during 2002, and income of $36,000  in  2001.  A
discussion of property operations/activities follows:

              In  2003,  Registrant recognized net income  of  $11,000
including $53,000 in depreciation expense at the Brass Works, compared
to  net income of $12,000 including $51,000 in depreciation expense in
2002,  and  net  income of $36,000, including $49,000 in  depreciation
expense in 2001. The decrease in net income from 2002 to 2003  is  due
to  an  increase  in rental operations expense and bad  debt  expense,
partially  offset  by an increase in rental income.  The  increase  in
rental  operations  expense  is  due to  an  increase  in  maintenance
expense,  utilities expense and insurance expense.   The  increase  in
maintenance  expense is due to an increase in maintenance service  and
snow removal.  The increase in utilities expense is due to an increase
in  electricity, water and sewer charges.  The increase  in  insurance
expense  is  due to insurance market conditions. The increase  in  bad
debt  expense  is  due  to  an increase in tenant  delinquencies.  The
increase  in rental income is due to the increase in average occupancy
(91% to 96%). The decrease in net income from 2001 to 2002 is due to a
decrease in rental income and an increase in rental operations expense
and  bad  debt  expense. The decrease in rental income  is  due  to  a
decrease  in  average occupancy (99% to 92%). The increase  in  rental
operations  expense  is  due to an increase  in  maintenance  expense,
leasing  commissions, insurance expense, and real estate tax  expense.
The increase in maintenance expense and leasing commissions are due to
an  increase in turnover of apartment units. The increase in insurance
expense  is due to insurance market conditions. The increase  in  real
estate  tax expense is due to an increase in the property's  appraised
value on which the taxes are based. The bad debt expense is due to the
write   off   of   tenant  accounts  receivables  that   were   deemed
uncollectible.

              In  2003, Registrant incurred a loss of $33,000 at Locke
Mill  Plaza including $28,000 of depreciation expense, compared  to  a
loss of $22,000 including $28,000 of depreciation expense in 2002, and
a  loss  of $7,000 including $27,000 of depreciation expense in  2001.
The  increase in loss from 2002 to 2003 is due to a decrease in rental
income  and  an increase in bad debt expense, partially  offset  by  a
decrease in rental operations expense.  The decrease in rental  income
is  due to a decrease in average rental rates. The bad debt expense is
due  to  the write off of tenant accounts receivables that were deemed
uncollectible.   The  decrease in rental  operations  is  due  to  the
decrease  in  maintenance  expense and  wages  and  salaries  expense,
partially  offset  by  an  increase  condominium  fees  and  insurance
expense.  The decrease in maintenance expense is due to a decrease  in
apartment painting and maintenance supplies. The decrease in wages and
salaries is due to the decrease in maintenance wages. The increase  in
condominium fees is due to an increase in budgeted operating expenses.
The   increase  in  insurance  expense  is  due  to  insurance  market
conditions.  The  increase in loss from 2001  to  2002  is  due  to  a
decrease  in  rental  income  and  an increase  in  rental  operations
expense. The decrease in rental income is due to a decrease in average
occupancy  (88% to 80%). The increase in rental operations expense  is
due to an increase in wages and salaries expense, condominium fees and
insurance   expense,  partially  offset  by  a  decrease  in   leasing
commissions. The increase in wages and salaries expense is due  to  an
increase in maintenance wages. The increase in condominium fees is due
to  an  increase  in  budgeted operating  expenses.  The  increase  in
insurance expense is due to insurance market conditions. The  decrease
in  leasing  commissions  is  due to a decrease  in  the  turnover  of
apartment units.


Item 7A.  Quantitative and Qualitative Disclosures about Market Risk
          ----------------------------------------------------------

           All of our assets and liabilities are denominated in U.  S.
dollars, and as a result, we do not have exposure to currency exchange
risks.

           We  do  not  engage in any interest rate, foreign  currency
exchange  rate  or  commodity price-hedging  transactions,  and  as  a
result, we do not have exposure to derivatives risk.

<PAGE>

Item 8.   Financial Statements and Supplementary Data
          -------------------------------------------

                   DIVERSIFIED HISTORIC INVESTORS IV
                   ---------------------------------
                        (a limited partnership)

              INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
              ------------------------------------------

                   AND FINANCIAL STATEMENT SCHEDULES
                   ---------------------------------


Consolidated financial statements:                            Page
                                                              ----

   Consolidated  Balance  Sheets at  December  31,  2003       10
(unaudited) and 2002

   Consolidated Statements of Operations for  the  Years       11
Ended December 31, 2003 (unaudited), 2002, and 2001

   Consolidated  Statements  of  Changes  in   Partners'       12
Equity   for  the  Years  Ended  December  31,   2003
(unaudited), 2002, and 2001

   Consolidated Statements of Cash Flows for  the  Years       13
Ended December 31, 2003 (unaudited), 2002, and 2001

   Notes   to   consolidated  financial   statements   -     14-18
(Unaudited)


Financial statement schedules - (Unaudited):

   Schedule   XI   -   Real   Estate   and   Accumulated       20
Depreciation

   Notes to Schedule XI                                        21











All other schedules are omitted because they are not applicable or the
required information is shown in the consolidated financial statements
or notes thereto.


<PAGE>


                  DIVERSIFIED HISTORIC INVESTORS IV
                  ---------------------------------
                        (a limited partnership)

                      CONSOLIDATED BALANCE SHEETS
                      ---------------------------
                      December 31, 2003 and 2002

                                Assets
                                ------
                                             2003        2002
                                             ----        ----
                                          (Unaudited)

Rental properties at cost:
 Land                                   $   74,324   $   74,324
 Buildings and improvements              2,246,555    2,246,555
 Furniture and fixtures                     77,897       54,251
                                        ----------   ----------
                                         2,398,776    2,375,130
Less - accumulated depreciation         (1,420,786)  (1,322,696)
                                        ----------   ----------
                                           977,990    1,052,434
Cash and cash equivalents                  249,100      307,657
Restricted cash                             26,761       27,890
Accounts receivable                          3,682       18,070
Other assets                                13,048        5,000
                                        ----------   ----------
Total                                   $1,270,581   $1,411,051
                                        ==========   ==========


                   Liabilities and Partners' Equity
                   --------------------------------

Liabilities:
 Accounts payable - trade               $    8,502  $    18,826
 Other liabilities                          28,000       30,749
 Tenant security deposits                   13,635       14,622
                                        ----------   ----------
          Total liabilities                 50,137       64,197
Partners' equity                         1,220,444    1,346,854
                                        ----------   ----------
          Total                         $1,270,581   $1,411,051
                                        ==========   ==========

The accompanying notes are an integral part of these financial statements.

<PAGE>




                   DIVERSIFIED HISTORIC INVESTORS IV
                   ---------------------------------
                        (a limited partnership)

                 CONSOLIDATED STATEMENTS OF OPERATIONS
                 -------------------------------------

         For the years ended December 31, 2003, 2002 and 2001

                                      2003         2002         2001
                                      ----         ----         ----
                                  (Unaudited)

Revenues:
 Rental income                      $208,819     $199,638     $203,679
 Interest income                       2,792        5,604        8,944
                                    --------     --------     --------
  Total revenues                     211,611      205,242      212,623
                                    --------     --------     --------
Costs and expenses:
 Rental operations                   152,112      151,436      117,380
 General and administrative           72,000       72,000       72,000
 Bad debt                             15,823        2,861            0
 Depreciation and amortization        98,089       94,985       92,541
                                    --------     --------     --------
  Total costs and expenses           338,024      321,282      281,921
                                    --------     --------     --------
Net loss                           ($126,413)   ($116,040)   ($ 69,298)
                                    ========     ========     ========

Net loss per limited partnership
 unit                              ($  15.10)   ($  13.86)   ($   8.28)
                                    ========     ========     ========

The accompanying notes are an integral part of these financial statements.

<PAGE>




                    DIVERSIFIED HISTORIC INVESTORS IV
                    ---------------------------------
                        (a limited partnership)

        CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' EQUITY
        ------------------------------------------------------
         For the years ended December 31, 2003, 2002 and 2001


                                      Dover
                                    Historic
                                    Advisors     Limited
                                     III (1)   Partners (2)    Total
                                    --------   ------------    -----

Percentage participation in
 profit or loss                       1%           99%          100%
                                      ==           ===          ====

Balance at December 31, 2000      ($456,750)   $1,988,942    $1,532,192
Net loss                               (693)      (68,605)      (69,298)
                                   --------    ----------    ----------
Balance at December 31, 2001       (457,443)    1,920,337     1,462,894
Net loss                             (1,160)     (114,880)     (116,040)
                                   --------    ----------    ----------
Balance at December 31, 2002       (458,603)    1,805,457     1,346,854
Net loss                             (1,264)     (125,149)     (126,413)
                                   --------    ----------    ----------
Balance  at  December  31,  2003
 (Unaudited)                      ($459,867)   $1,680,308    $1,220,441
                                   ========    ==========    ==========


 (1) General Partner

 (2)  8,285.7  limited partnership units outstanding at December  31,
      2003, 2002, and 2001.

The accompanying notes are an integral part of these financial statements.

<PAGE>

                    DIVERSIFIED HISTORIC INVESTORS IV
                    ---------------------------------
                        (a limited partnership)

                 CONSOLIDATED STATEMENTS OF CASH FLOWS
                 -------------------------------------

         For the years ended December 31, 2003, 2002 and 2001


                                         2003       2002       2001
                                         ----       ----       ----
                                     (Unaudited)

Cash flows from operating
 activities:
 Net loss                            ($126,413)  ($116,040) ($ 69,298)
 Adjustments to reconcile net loss
  to net cash (used in) provided by
  operating activities:
  Depreciation and amortization         98,089      94,985     92,541
 Changes in assets and liabilities:
  Decrease (increase) restricted  cash
                                         1,129      (2,847)    (2,255)
  Decrease in accounts receivable       14,388           0          0
  (Increase) decrease in other assets   (8,047)     (1,612)       596
  (Decrease) increase in accounts
   payable - trade                     (10,323)      2,557    (28,408)
  (Decrease) increase in other
   liabilities                          (2,749)      1,842     27,529
  (Decrease) increase in tenant
   security deposits                      (985)      2,330         25
                                      --------    --------   --------
  Net cash (used in) provided by
   operating activities                (34,911)    (18,785)    20,730
                                      --------    --------   --------
Cash flows from investing activities:
 Capital expenditures                  (23,646)     (9,591)   (14,846)
                                      --------    --------   --------
Net cash used in investing activities  (23,646)     (9,591)   (14,846)
                                      --------    --------   --------
(Decrease) increase in cash and
 cash equivalents                      (58,557)    (28,376)     5,884
Cash and cash equivalents at
 beginning of year                     307,657     336,033    330,149
                                      --------    --------   --------
Cash and cash equivalents at
 end of year                          $249,100    $307,657   $336,033
                                      ========    ========   ========

The accompanying notes are an integral part of these financial statements.

<PAGE>



                 DIVERSIFIED HISTORIC INVESTORS IV
                 ---------------------------------
                     (a limited partnership)

           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
           ------------------------------------------
                           (Unaudited)


NOTE A - ORGANIZATION
---------------------

Diversified  Historic Investors IV (the "Partnership") was  formed  in
January  1987, with Dover Historic Advisors III as the General Partner
and  DHP,  Inc., (formerly Dover Historic Properties,  Inc.,)  as  the
limited  partner.  Upon the admission of additional limited  partners,
the initial limited partner withdrew.

The  Partnership was formed to acquire, rehabilitate, and manage  real
properties which are certified historic structures as defined  in  the
Internal  Revenue  Code  (the  "Code"), or  which  were  eligible  for
designation  as  such, utilizing the net proceeds  from  the  sale  of
limited  partnership  units.  Any rehabilitations  undertaken  by  the
Partnership  were  done  with  a view to  obtaining  certification  of
expenditures  therefor as "qualified rehabilitation  expenditures"  as
defined in the Code.


NOTE B - SIGNIFICANT ACCOUNTING POLICIES
----------------------------------------

A  summary  of  the  significant accounting policies  applied  in  the
preparation  of  the  accompanying consolidated  financial  statements
follows:

1.   Principles of Consolidation

The  accompanying consolidated financial statements of the Partnership
include  the  accounts  of  one subsidiary partnership  in  which  the
Partnership  had a controlling interest, with appropriate  elimination
of  inter-partnership  transactions  and  balances.   These  financial
statements  reflect  all  adjustments  (consisting  only   of   normal
recurring  adjustments)  which, in the opinion  of  the  Partnership's
General Partner, are necessary for a fair statement of the results for
the year.

2.   Costs of Issuance

Costs  incurred  in connection with the offering and sale  of  limited
partnership units were charged against partners' equity as incurred.

3.   Depreciation

Depreciation  is  computed  using the straight-line  method  over  the
estimated useful lives of the assets.  Buildings and improvements  are
depreciated over 25 years and furniture and fixtures over five years.

4.   Net Loss Per Limited Partnership Unit

The  net loss per limited partnership interest (a "Unit") is based  on
the  weighted average number of limited partnership Units  outstanding
during the period (8,285.7 Units in 2003, 2002, and 2001).

5.   Income Taxes

Federal and state income taxes are payable by the individual partners;
therefore, no provision or liability for income taxes is reflected  in
the financial statements.

6.   Cash and Cash Equivalents

The Partnership considers all highly liquid investments purchased with
a maturity of less than three months to be cash equivalents.

7.   Concentration of Credit Risk

Financial  instruments which potentially subject  the  Partnership  to
concentration  of  credit risk consist principally of  cash  and  cash
equivalents.  The Partnership maintains its cash and cash  equivalents
in  financial  institutions insured by the Federal  Deposit  Insurance
Corporation  up  to  $100,000  per  company.  At  December  31,  2003,
uninsured funds held at one institution are approximately $200,000.

8.   Restricted Cash

Restricted  cash  includes amounts held for tenant security  deposits,
real estate tax reserves and other cash restricted as to use.

9.   Revenue Recognition

Revenues  are recognized when rental payments are due on  a  straight-
line  basis.   Rental payments received in advance are deferred  until
earned.

10.  Rental Properties

Rental  properties are stated at cost.  A provision for impairment  of
value  is  recorded  when  a decline in the value  of  a  property  is
determined  to be other than temporary as a result of one or  more  of
the following: (1) a property is offered for sale at a price below its
current  carrying  value;  (2)  a mortgage  loan  on  a  property  has
significant  balloon payments due within the foreseeable future  which
the  Partnership does not have the resources to meet, and  anticipates
it will be unable to obtain replacement financing or debt modification
sufficient  to  allow  it  to continue to hold  the  property  over  a
reasonable period of time; (3) a property has been, and is expected to
continue,   generating   significant  operating   deficits   and   the
Partnership is unable or unwilling to sustain such deficits,  and  has
been  unable,  or  anticipates  it will  be  unable,  to  obtain  debt
modification,  financing  or refinancing sufficient  to  allow  it  to
continue to hold the property for a reasonable period of time, or  (4)
a  property's  value  has declined based on management's  expectations
with respect to projected future operational cash flows and prevailing
economic  conditions.   An  impairment  loss  is  indicated  when  the
undiscounted  sum  of  estimated future  cash  flows  from  an  asset,
including  estimated sales proceeds, and assuming a reasonable  period
of  ownership up to 5 years, is less than the carrying amount  of  the
asset.  The impairment loss is measured as the difference between  the
estimated  fair  value and the carrying amount of the  asset.  In  the
absence  of  the above circumstances, properties and improvements  are
stated  at  cost.  An analysis is done on an annual basis at  December
31.

11.  Use of Estimates

The  preparation  of  the  financial  statements  in  conformity  with
generally accepted accounting principles requires management  to  make
estimates  and  assumptions that affect the amounts  reported  in  the
financial  statements  and accompanying notes.  Actual  results  could
differ from those estimates.


NOTE C - PARTNERSHIP AGREEMENT
------------------------------

The significant terms of the amended and restated Agreement of Limited
Partnership  (the  "Agreement"),  as  they  relate  to  the  financial
statements, follow:

The  Agreement provides that beginning with the date of the  admission
of  subscribers  as  limited  partners, all  distributable  cash  from
operations  (as  defined)  will  be distributed  90%  to  the  limited
partners and 10% to the General Partner.

All distributable cash from sales or dispositions (as defined) will be
distributed  to  the  limited partners up to  their  original  capital
contributions  plus an amount equal to six percent of  their  original
capital contributions per annum on a cumulative basis, less the sum of
all  prior  distributions to them; thereafter, after  receipt  by  the
General  Partner  or  its affiliates of any accrued  but  unpaid  real
estate   brokerage  commissions,  the  distributable  cash   will   be
distributed  15%  to  the  General Partner  and  85%  to  the  limited
partners.

Net income or loss from operations of the Partnership is allocated  1%
percent to the General Partner and 99% to the limited partners.


NOTE D - ACQUISITIONS
---------------------

The  Partnership  acquired two properties and one general  partnership
interest  in a partnership owning a third property during  the  period
from May 1987 to November 1988, as discussed below.

In  May 1987, the Partnership purchased a three-story building located
in  Philadelphia, Pennsylvania consisting of 12 apartment units.   The
cost  to  acquire  and  rehabilitate this property  was  approximately
$1,200,000.

In  July  1987,  the  Partnership was admitted,  with  a  95%  general
partnership  interest,  to  a Pennsylvania general  partnership  which
owned  a building located in New Orleans, Louisiana consisting  of  61
apartment units, for cash contributions of $4,620,000.  As of December
31,  1996,  all of the units were sold. As of December 31,  1997,  the
mortgages  from the seller provided financing in connection  with  the
sale of the units were sold.

In November 1988, the Partnership purchased 10 condominium units, in a
building located in Concord, North Carolina, for $665,000.


NOTE E - INCOME TAX BASIS RECONCILIATION
----------------------------------------

Certain  items  enter  into  the  determination  of  the  results   of
operations in different time periods for financial reporting  ("book")
purposes and for income tax ("tax") purposes.  A reconciliation of net
loss and partners' equity follows:

                                  For the Years Ended December 31,
                                    2003         2002        2001
                                    ----         ----        ----
                                (Unaudited)

Net loss - book                ($  126,413) ($ 116,040) ($  69,298)
Excess of book over tax
 depreciation                       18,539      19,415      20,302
Minority interest (tax only)             0          70        (372)
                                ----------   ---------   ---------
Net loss - tax                 ($ 107,874)  ($  96,555) ($  49,368)
                                =========    =========   =========


                                  For the Years Ended December 31,
                                    2003         2002        2001
                                    ----         ----        ----
Partners' equity - book        $1,220,444   $1,346,856  $1,462,894
Costs of issuance               1,077,141    1,077,141   1,077,141
Cumulative tax over book loss     312,683      294,142     274,659
                               ----------   ----------  ----------
Partners' equity - tax         $2,610,268   $2,718,139  $2,814,694
                               ==========   ==========  ==========



Note F -  Quarterly Financial Data (Unaudited)
----------------------------------------------

     The  following represents summarized quarterly financial data  of
the  Registrant  which,  in  the opinion of management,  reflects  all
adjustments,   consisting  only  of  normal   recurring   adjustments,
necessary  for  a  fair  presentation of the Registrant's  results  of
operations:


                      For The Three Months Ended - (Unaudited)
                  December 31, September 30,  June 30,   March 31,
                  ------------ -------------  --------   ---------
                                           2003
                  ------------------------------------------------
Revenues:
 Rental income       $54,648    $50,665        $50,773   $ 52,733
 Interest income         488        516            842        946
                     -------    -------        -------   --------
  Total revenues      55,136     51,181         51,615     53,679
                     -------    -------        -------   --------
Costs and expenses:
 Rental operations    14,497     31,238         36,130     70,247
 Bad debt             15,823          0              0          0
 General and
  administrative      18,000     24,000         12,000     18,000
Depreciation and
 amortization         26,296     23,886         23,931     23,976
                     -------    -------        -------   --------
  Total costs
   and expenses       74,616     79,124         72,061    112,223
                     -------    -------        -------   --------
Net income (loss)   ($19,480)  ($27,943)      ($20,446) ($ 58,544)
                     =======    =======        =======   ========

Net loss per limited
 partnership unit   ($  1.66)  ($  3.34)      ($  2.44) ($   7.00)
                     =======    =======        =======   ========


               December 31, September 30,  June 30,   March 31,
                  ------------ -------------  --------   ---------
                                           2002
                  ------------------------------------------------
Revenues:
 Rental income       $51,158    $45,313        $53,118   $ 50,049
 Interest income       1,283      1,401          1,464      1,456
                     -------    -------        -------   --------
  Total revenues      52,441     46,714         54,582     51,505
                     -------    -------        -------   --------
Costs and expenses:
 Rental operations    20,941     34,574         49,876     46,045
 Bad debt                  0          0          2,861          0
 General and
  administrative      24,000     18,000         12,000     18,000
 Depreciation
  and amortization    24,467     23,506         23,877     23,135
                     -------    -------        -------   --------
  Total costs and
     expenses         69,408     76,080         88,614     87,180
                     -------    -------        -------   --------
Net loss            ($16,967)  ($29,366)      ($34,032) ($ 35,675)
                     =======    =======        =======   ========

Net loss per
 limited
 partnership unit   ($  1.45)  ($  3.51)      ($  4.07) ($   4.26)
                     =======    =======        =======   ========


<PAGE>




                       SUPPLEMENTAL INFORMATION

<PAGE>


                   DIVERSIFIED HISTORIC INVESTORS IV
                    --------------------------------
                       (a limited partnership)

        SCHEDULE XI - REAL ESTATE AND ACCUMULATED DEPRECIATION
        ------------------------------------------------------
                          DECEMBER 31, 2003
                             (Unaudited)


                                            Costs
                                         Capitalized
                                         Subsequent
                  Initial Cost to            to
                  Partnership (b)        Acquisition
                  ---------------        -----------


                             Buildings
                               and                          Date of
                             Improve-  Improve-    Total    Constr.   Date
Description (a)      Land     ments    ments (d)  (b) (d)     (a)   Acquired
---------------      ----    --------- --------   ------- --------  --------
12 apartment
units in
Phila, PA          $54,000  $1,209,858 $406,696 $1,616,554   1988    5/22/87

10 apartment
units in
Concord,  NC        20,324     692,522   15,376    707,898   1988   11/30/88
                   -------  ---------- -------- ----------
 TOTAL             $74,324  $1,902,380 $422,072 $2,324,452
                   =======  ========== ======== ==========


                             Gross Amount at which Carried at
                                    December 31, 2003
                             --------------------------------
                                     (Unaudited)



                               Buildings
                                  and                   Accumulated
                                Improv-      Total      Depreciation
Description           Land       ments      (d) (e)       (d) (e)
------------          ----     ---------    -------     -----------
12 apartment
units in
Philadelphia, PA   $54,000    $1,616,554   $1,670,554      $997,491

10 apartment
units in
North Concord, NC  $20,324       707,898      728,222       423,295
                   -------    ----------   ----------    ----------
                   $74,324    $2,324,452   $2,398,776    $1,420,786
                   =======    ==========   ==========    ==========

<PAGE>

                DIVERSIFIED HISTORIC INVESTORS IV
                 --------------------------------
                     (a limited partnership)

                      NOTES TO SCHEDULE XI
                      --------------------
                        December 31, 2003

(A)  Each property is a certified historic structure as defined in the
     Internal Revenue Code of 1986.  The "date of construction" refers
     to the period in which the properties were rehabilitated.

(B)  Includes  development/rehabilitation costs incurred  pursuant  to
     development  agreements  entered into when  the  properties  were
     acquired.

(C)  The aggregate cost of real estate owned at December 31, 2003, for
     Federal  income  tax  purposes is approximately  $1,799,576.  The
     depreciable  basis of buildings and improvements is  reduced  for
     Federal income tax purposes by the historic rehabilitation credit
     obtained.

(D)  Reconciliation of land, buildings and improvements:

                                         2003        2002         2001
                                         ----        ----         ----
                                    (Unaudited)

Balance at beginning of year         $2,375,130  $2,365,539   $2,350,693
Additions during the year:
  Improvements                           23,646       9,591       14,846
                                     ----------  ----------   ----------
Balance at end of year               $2,398,776  $2,375,130   $2,365,539
                                     ==========  ==========   ==========

Reconciliation of accumulated depreciation:

                                         2003        2002         2001
                                         ----        ----         ----
Balance at beginning of year         $1,322,696  $1,227,712   $1,135,171
Depreciation expense for the year        98,090      94,984       92,541
                                     ----------  ----------   ----------
Balance at end of year               $1,420,786  $1,322,696   $1,227,712
                                     ==========  ==========   ==========

(E)  See   Note  B  to  the  consolidated  financial  statements   for
     depreciation methods and lives.


<PAGE>


Item  9.   Changes in and Disagreements with Accountants on Accounting
           and Financial Disclosure
           -----------------------------------------------------------

          None.


Item 9A.   Controls and Procedures
           -----------------------

          We  maintain  disclosure controls and  procedures  that  are
     designed  to ensure that information required to be disclosed  in
     our   Securities  Exchange  Act  of  1934  reports  is  recorded,
     processed,  summarized and that such information  is  accumulated
     and  communicated  to  our  management,  including  our  managing
     partner's  principal  executive officer and  principal  financial
     officer,  as  appropriate,  to allow timely  decisions  regarding
     required  disclosure.  In designing and evaluating the disclosure
     controls  and  procedures,  our management  recognized  that  any
     controls  and  procedures,  no  matter  how  well  designed   and
     operated, can provide only reasonable assurance of achieving  the
     desired  control  objectives, and our management necessarily  was
     required  to  apply its judgment in evaluating  the  cost-benefit
     relationship of possible controls and procedures.

          Under  the  supervision of our managing partner's  principal
     executive officer and principal financial officer we have carried
     out  an evaluation of the effectiveness of our adopted disclosure
     controls  and procedures as of the end of the period  covered  by
     this  report.  Based upon that evaluation, our managing partner's
     president  and  treasurer concluded that our disclosure  controls
     and procedures are effective.

          There  have  been  no significant changes  in  our  internal
     controls  over financial reporting that has materially  affected,
     or  is  reasonably  likely  to materially  affect,  our  internal
     control  over  financial reporting during our most recent  fiscal
     quarter.


<PAGE>

                               PART III
                               --------

Item 10.  Directors and Executive Officers of Registrant
          ----------------------------------------------

          a.  Identification  of  Directors  -  Registrant  has   no
directors.

          b. Identification of Executive Officers

              The  General Partner of the Registrant is Dover Historic
Advisors  III  (DoHA-III),  a Pennsylvania general  partnership.   The
partners of DoHA-III are as follows:


                                  Term of
Name            Age  Position     Office      Period Served
----            ---  --------     -------     -------------

SWDHA, Inc.      --  Partner in  No fixed     Since May 1997
                     DoHA-III      term

EPK, Inc.        --  Partner in  No fixed     Since May 1997
                     DoHA-III      term


              For further description of DoHA-III, see paragraph e. of
this  Item.   There is no arrangement or understanding between  either
person  named above and any other person pursuant to which any  person
was or is to be selected as an officer.

          c.   Identification  of  Certain  Significant   Employees.
Registrant  has  no  employees.   Its administrative  and  operational
functions  are  carried out by a property management  and  partnership
administration firm.

          d. Family Relationships.  None.

          e.  Business Experience.  DoHA-III is a general partnership
formed  in  1987.  The partners of DoHA-III are EPK, Inc.  and  SWDHA,
Inc.   EPK,  Inc.,  is  managing partner  of  DoHA  III  and  is  thus
responsible for management and control of DoHA III, which in  turn  is
responsible for the management and control of the Registrant  and  has
general responsibility and authority for conducting its operations.

              On May 13, 1997, SWDHA, Inc. replaced Gerald Katzoff and
EPK,  Inc.  replaced  DHP,  Inc.  as partners  of  DoHA-III.   Spencer
Wertheimer,  the  President  of  SWDHA,  Inc.,  is  an  attorney  with
extensive experience in real estate activities and ventures.

              EPK,  Inc.  is  a Delaware corporation  formed  for  the
purpose of managing properties or interests therein.  EPK, Inc.  is  a
wholly-owned subsidiary of D, LTD, an entity formed in 1985 to act  as
the   holding  company  for  various  corporations  engaged   in   the
development  and management of historically certified  properties  and
conventional  real  estate as well as a provider  of  financial  (non-
banking) services.

              The  officers  and directors of EPK, Inc. are  described
below.

              Spencer  Wertheimer was appointed on  May  13,  1997  as
President, Treasurer and Sole Director of EPK, Inc.  Mr. Wertheimer is
an  attorney  with extensive experience in real estate activities  and
ventures.

             Donna M. Zanghi (age 45) was appointed on May 13, 1997 as
Vice  President  and  Secretary of EPK, Inc.   Ms.  Zanghi  previously
served as Secretary and Treasurer of DHP, Inc. since June 14, 1993 and
as  a  Director  and  Secretary/Treasurer of D,  LTD.   She  has  been
associated with DHP, Inc. and its affiliates since 1984 except for the
period from December 1986 to June 1989 and the period from November 1,
1992 to June 14, 1993.

              Michele F. Rudoi (age 37) was appointed on May 13,  1997
as  Assistant  Secretary of EPK, Inc.  Ms. Rudoi has  also  served  as
Assistant  Secretary and Director of both D, LTD and  DHP,  Inc.  from
January 27, 1993.


Item 11.  Executive Compensation
          ----------------------

           a.  Cash Compensation - During 2003, Registrant did not pay
any cash compensation to DoHA-III.

           b.  Compensation Pursuant to Plans - Registrant has no plan
pursuant to which compensation was paid or distributed, or is proposed
to  be  paid  or distributed in the future, to DoHA-III,  any  partner
therein,  or  any  person named in paragraph c. of  Item  10  of  this
report.

           c.  Other  Compensation - Compensation not referred  to  in
paragraph  a. or paragraph b. of this Item was not paid or distributed
during  2003 to DoHA-III, any partner therein, or any person named  in
paragraph c. of Item 10.

          d. Compensation of Directors - Registrant has no directors.

          e.   Termination  of  Employment  and  Change  of  Control
Arrangement - Registrant has no compensatory plan or arrangement, with
respect  to  any  individual, which results or will  result  from  the
resignation  or  retirement of any individual, or any  termination  of
such  individual's  employment with Registrant or  from  a  change  in
control   of   Registrant   or   a   change   in   such   individual's
responsibilities following such a change in control.


Item  12.   Security  Ownership  of  Certain  Beneficial  Owners   and
            Management
            ----------------------------------------------------------

           a.  Security Ownership of Certain Beneficial  Owners  -  No
person is known to Registrant to be the beneficial owner of more  than
five percent of the issued and outstanding Units.

           b.  Security Ownership of Management - No equity securities
of  Registrant are beneficially owned by any person named in paragraph
c. of Item 10.

           c.  Changes  in Control - Registrant does not know  of  any
arrangement, the operation of which may at a subsequent date result in
a change in control of Registrant.


Item 13.  Certain Relationships and Related Transactions
          ----------------------------------------------

           Pursuant to Registrant's Amended and Restated Agreement  of
Limited  Partnership,  DoHA-III is entitled  to  10%  of  Registrant's
distributable cash from operations in each year.  The amount allocable
to DoHA-III for 2003, 2002 and 2001 was $0.

           a. Transactions with Management - Fees paid during 2003  to
the general partner were $0.

           b.  Certain  Business Relationships  -  Registrant  has  no
directors.

           c.  Indebtedness of Management - No employee of Registrant,
Registrant's general partner (or any employee thereof), or any affiliate
of any such person, is or has at any time been indebted to Registrant.


Item 14.  Principal Accountant Fees and Services
          --------------------------------------

           The following table presents the aggregate fees billed  for
each  of  the services listed below for each of the Registrant's  last
two fiscal years.



                                             2003        2002
                                             ----        ----
                                          (Unaudited)

Audit Fees (1).........................        -         $5,000
Audit - Related Fees (2)...............        -           -
Tax Fees (3)...........................        -         14,300
All Other Fees (4).....................        -           -
                                              --        -------
Total..................................       $-        $19,300
                                                        =======

1. Audit Fees - Audit fees for the years ended December 31, 2002,
   respectively, were for professional services rendered by Gross Kreger
   & Passio, L.L.C. for the audits of the consolidated financial
   statements of the Registrant, statutory audits and subsidiary audits,
   issuance of comfort letters related to financing transactions; and
   with review of documents filed with the SEC.

2. Audit-Related Fees - Audit-related fees as of the years ended
   December 31, 2002, respectively, would consist of the aggregate fees
   billed for assurance and related services that are reasonably related
   to  the  performance of the audit or review of the unaudited
   consolidated financial services and are not disclosed under "Audit
   Fees" above, however, no such assurance or services were provided in
   the relevant periods.

3. Tax Fees - Tax fees as of the years ended December 31, 2002,
   respectively, were for services related to tax compliance, rendered by
   Brandywine Construction and Management Inc. including preparation of
   tax returns and claims for refund, tax planning and tax advice,
   including assistance with and representation in tax audits.

4. All Other Fees -  All other fees as of the years ended December
   31, 2002, respectively, would consist of the aggregate fees billed for
   products and services described under audit fees, audit - related fees
   and tax fees, however, no such products and services were provided in
   the relevant periods.


<PAGE>


                                PART IV
                                -------

Item 15. (A) Exhibits, Financial Statement Schedules and Reports
         -------------------------------------------------------

             1.     Financial Statements:

                            a.     Consolidated  Balance  Sheets   at
                 December 31, 2003 (unaudited) and 2002.

                            b.   Consolidated Statements of Operations
                 for   the   Years   Ended       December   31,   2003
                 (unaudited), 2002 and 2001.

                            c.   Consolidated Statements of Changes in
                 Partners'  Equity for the      Years  Ended  December
                 31, 2003 (unaudited), 2002 and 2001.

                            d.   Consolidated Statements of Cash Flows
                 for   the   Years   Ended       December   31,   2003
                 (unaudited), 2002 and 2001.

                            e.     Notes  to  consolidated  financial
                 statements - (Unaudited)



               2.   Financial statement schedules - Unaudited:

                           a.     Schedule  XI  -  Real  Estate  and
                 Accumulated Depreciation.

                           b.   Notes to Schedule XI.


               3.  Exhibits:

             (a) Exhibit Number     Document
                 --------------     --------

                    3               Registrant's  Amended   and
                                    Restated   Certificate   of
                                    Limited   Partnership   and
                                    Agreement    of     Limited
                                    Partnership,     previously
                                    filed  as part of Amendment
                                    No.   1   of   Registrant's
                                    Registration  Statement  on
                                    Form       S-11,        are
                                    incorporated   herein    by
                                    reference.
                  21                Subsidiaries     of     the
                                    Registrant  are  listed  in
                                    Item  2. Properties of this
                                    Form 10-K.

                  31 (Not attached) General   Partners  Opinion
                                    Certification
                                    (To   be filed with amended
                                    10-K/A)

                  32 (Not attached) Certification  Pursuant  to
                                    18  U.S.C. Section 1350, As
                                    Adopted     Pursuant     to
                                    Section    906    of    the
                                    Sarbanes-Oxley Act of 2002
                                    (To   be filed with amended
                                    10-K/A)


             (c)  Exhibits:

                 See Item 14(A)(3) above.


<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.

Date:  September 2, 2005   DIVERSIFIED HISTORIC INVESTORS IV
       -----------------
                           By: Dover Historic Advisors III, its
                               general partner

                               By: EPK, Inc., managing partner

                                   By: /s/ Spencer Wertheimer
                                       ----------------------
                                       SPENCER WERTHEIMER
                                       President (principal executive
                                       officer, principal financial
                                       officer)






     Pursuant to the requirements of the Securities Exchange Act of
1934, Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.


                              DIVERSIFIED HISTORIC INVESTORS IV

                             By: Dover Historic Advisors III, its
                                 general partner

                                 By: EPK, Inc., managing partner


Date: September 2, 2005           By: /s/ Spencer Wertheimer
      -----------------               -----------------------
                                      SPENCER WERTHEIMER
                                      President (principal executive
                                      officer, principal financial
                                      officer)

<PAGE>