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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

                Quarterly Report Pursuant to Section 13 or 15(d)
                                       of
                       The Securities Exchange Act of 1934

                  for the Quarterly Period ended March 31, 1997


                           Commission File No. 0-19933


                           TMP INLAND EMPIRE IV, LTD.
                        A CALIFORNIA LIMITED PARTNERSHIP
             (Exact name of registrant as specified in its charter)


              CALIFORNIA                                   33-0341829
      (State or other jurisdiction of                   (I.R.S. Employer
      incorporation or organization)                   Identification No.)


801 North Parkcenter Drive, Suite 235                         92705
Santa Ana, California                                       (Zip Code)
(Address of principal executive office)

                                                      (714) 836-5503
              (Registrant's telephone number, including area code)

                                                  ----------------------

Indicate by check mark whether Registrant has [1] 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 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 [X]   No [ ]



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PART I - FINANCIAL INFORMATION

Item 1.       Financial Statements

The following financial statements are filed as a part of this Form 10-Q:

Balance Sheets as of March 31, 1997 and December 31, 1996

Statements of Income for the Three Months ended March 31, 1997 and 1996

Statements of Cash Flows for the Three Months ended March 31, 1997, and 1996


The accompanying unaudited interim financial statements include all adjustments
(consisting solely of normal recurring adjustments) which are, in the opinion of
management, necessary to fairly present the financial position of the
Partnership as of March 31, 1997 and the results of its operations, changes in
partners' equity, and cash flows for the periods then ended






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                           TMP INLAND EMPIRE IV, LTD.
                        a California Limited Partnership

                                 Balance Sheets


<TABLE>
<CAPTION>
                                                    March 31,     December 31,
                                                      1997             1996
                                                   -----------      -----------
<S>                                                <C>              <C>        
Assets

Cash                                               $    21,874      $    32,971
Accounts Receivable                                          -                -
Investment in Unimproved Land
(Note 1)                                           $ 2,483,887      $ 2,440,000
Prepaid Expense                                              -                -
Organization Costs, Net (Note 1)                             -                -

         Total Assets                              $ 2,505,761      $ 2,472,971

Liabilities and Partners' Capital

Accounts Payable and
   Accrued Liabilites                              $     1,900      $       800
Due to Affiliates                                  $    13,527      $       405
Property Taxes Payable                             $    87,764      $    69,417
Notes Payable (Note 3)                             $   190,000      $   190,000
Commission Payable (Note 4)                        $    70,560      $    70,560

         Total Liabilities                         $   363,751      $   331,182

Partners' capital

         General Partners                          $   (54,294)     ($   54,298)
         Limited Partners; 8,500 equity
         units authorized and outstanding          $ 2,196,304      $ 2,196,087

         Total Partners' Capital                   $ 2,142,010      $ 2,141,789

Total Liabilities and Partners' Capital            $ 2,505,761      $ 2,472,971
</TABLE>






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                           TMP INLAND EMPIRE IV, LTD.
                        a California Limited Partnership
                              Statements of Income


<TABLE>
<CAPTION>
                                                       Three Months Ended March 31,
                                                             1997          1996
<S>                                                          <C>          <C>  
Land Sales                                                   $  0         $   0

Cost of Land Sales                                           $  0         $   0

  Gross Profit                                               $  0         $   0

Interest and Other Income                                    $221         $ 381

General and Admin. Expense                                   $  0         $   0

Amortization                                                 $  0         $ 550

  Net Income (Loss)                                          $221         ($169)

Allocation of Net Income (Loss) (Note 2)

     General Partners                                        $  2         ($  2)

     Limited Partners                                        $219         ($167)

     Limited Partners, per unit                              $0.03        ($0.02)
</TABLE>








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                                 TMP INLAND EMPIRE IV, LTD.
                              a California Limited Partnership


                                  Statement of Cash Flows
<TABLE>
<CAPTION>
                                                                                Three Months Ended March 31,
                                                                                     1997           1996
<S>                                                                                <C>           <C>       
Net Income (Loss)                                                                  $    221      $    (169)

Cash Flow from operating activities Adjustments to reconcile net income (loss)
  to net cash used in operating activities:

Amortization of organization costs                                                        -            550

(Increase) in investment in unimproved land                                         (41,987)       (75,762)

(Increase) Decrease in Receivables                                                        -              -

(Increase) Decrease in Prepaid Expense                                                    -        (17,100)

Increase (Decrease) in Accounts Payable
   and Accrued Liabilites                                                            30,669        (12,430)

Decline in fair value of unimproved land                                                  -              -

Net Cash provided by (used in)
   Operating Activities                                                            $(11,097)     $(104,911)


Cash Flow from Financing Activities
   Increase in Notes Payable                                                              -      $ 190,000

Net Cash provided by Financing Activities                                                 -      $ 190,000


Net Increase (Decrease) in Cash                                                    $(11,097)     $  85,089

Cash, Beginning of Period                                                          $ 32,971      $  16,769

Cash, End of Period                                                                $ 21,874      $ 101,858



Supplemental disclosures of cash flow information:

Income taxes paid                                                                         -              -
Interest paid                                                                             -              -
</TABLE>






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                            TMP INLAND EMPIRE IV, LTD
                        a California Limited Partnership
                        Notes to the Financial Statements
                    For the Three Months Ended March 31, 1997
                                   (Unaudited)


NOTE 1 -  Summary of Significant Accounting Policies

Accounting Method - TMP Inland Empire IV, Ltd. (the Partnership) prepares its
financial statements on the accrual basis of accounting.

Organization Costs - Organization costs include expenses incurred in the
formation of the Partnership that have been capitalized and that have been
amortized over a period of 40 years prior to 1992 and are being amortized over
five years beginning in 1992.

Investment in Unimproved Land - The Partnership's land is stated at the lower of
actual cost or market value, based on specific identification. All costs
associated with the acquisition of a property are capitalized. In addition, the
Partnership capitalizes all carrying costs.

Income Taxes - The entity is treated as a partnership for income tax purposes
and any income or loss is passed through and taxable at the partner level.
Accordingly, no provision for federal income taxes is provided.


NOTE 2 - Allocation of Profits, Losses and Cash Distributions

Profits, losses, and cash distributions are allocated 99 percent to the limited
partners and one percent to the general partners until the limited partners have
received an amount equal to their capital contributions plus a cumulative,
non-compounded return of six percent per annum based on their adjusted capital
account balances. At that point, remaining profits, losses and cash
distributions are allocated 85 percent to the limited partners and 15 percent to
the general partners.

As of March 31, 1997 and 1996, profits, losses and cash distributions were
allocated 99 percent to the limited partners and one percent to the general
partners.


NOTE 3 - Note Payable

As of March 31, 1997 and 1996, the Partnership had a note payable secured by
Partnership land. The note bears interest at 12 percent per annum and matures
February 1, 1999.


NOTE 4 - Commissions Payable

As of March 31, 1997 and 1996, the Partnership had a payable to a related party
for services rendered relating to sales of properties in 1989 and 1990.







<PAGE>   7


                           TMP INLAND EMPIRE IV, LTD.
                        a California Limited Partnership
                    For the Three Months Ended March 31, 1997


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

Partnership revenues during the three months ended March 31, 1997 and 1996
consisted primarily of interest income. There were no properties sold during the
first quarter of 1997 or 1996.

During the three months ended March 31, 1997, operating activities used
approximately $11,000 of cash. Operating activities for the three months ended
March 31, 1996 used approximately $105,000 of cash. The bulk of that resulted
from accrued but unpaid property taxes. Financing activites provided $190,000
from a note secured by Partnership land.

The Partnership had seven properties as of March 31, 1997 that are being held
for appreciation and resale. Upon the sale of each property, the Partnership
intends to distribute the sales proceeds, less any reserves needed for
operations, to the partners.

Management believes that the Partnership has sufficient cash to meet the
anticipated cash requirements of the Partnership for the next twelve months.
Management may attempt to sell one or more parcels of land to generate cash, or
in the alternative, seek to procure a loan secured by Partnership land.
Management may also choose to withhold payment of certain expenses such as
property taxes and expense reimbursements to the general partner.





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Signatures

         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.

Date:  May 9, 1997


                          TMP INLAND EMPIRE IV, LTD.
                          a California Limited Partnership


                           By:   TMP Investments, Inc., as General Partner


                                 By:  \s\ William O. Passo
                                    -----------------------------------------
                                       William O. Passo, President


                                 BY:    \s\ Anthony W. Thompson
                                    -----------------------------------------
                                       Anthony W. Thompson, Exec. V.P.

                                 BY:     \s\ Michael Sun
                                    -----------------------------------------
                                       Michael Sun, Chief Financial Officer

                           By:   TMP Properties, a California General
                                       Partnership as General Partner

                                 BY:  \s\ William O. Passo
                                    -----------------------------------------
                                          William O. Passo, General Partner

                                 BY: \s\ Anthony W. Thompson
                                    -----------------------------------------
                                         Anthony W. Thompson, General Partner

                                 BY:  \s\ Scott E. McDaniel
                                    -----------------------------------------
                                         Scott E. McDaniel