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, 1998
                             ----------------------

                           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                  I.R.S.Employer Identification No.)
of incorporation or organization)

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 [ ]







<PAGE>





         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, 1998 and December 31, 1997,  Statements of Income
for the three months ended March 31, 1998 and 1997, Statements of Cash Flows for
the three months ended March 31, 1998 and 1997.

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, 1998 and the results of its  operations,  changes in
partners' equity, and cash flows for the periods then ended.



<PAGE>

<TABLE>



                           TMP INLAND EMPIRE IV, LTD.
                        A California Limited Partnership
<CAPTION>

                                 Balance Sheets

                                       March 31,                   December 31,

                                         1998                         1997
<S>                                    <C>                         <C> 
Assets

Cash                                   $    43,163                 $    75,651
Due from Affiliates                          5,727
Accounts Receivables                           323
Investment In Unimproved Land            2,375,556                   2,350,715
                                       -----------                 -----------

             Total Assets              $ 2,424,769                  $2,426,366
                                       ===========                  ==========

Liabilities and Partners Capital

Accounts Payable and Accrued
Liabilities                            $         0                   $    1,900
Due to Manager                               3,050
Due to Affiliates                              203                         963
Property Taxes Payable                     138,602                     124,047
Notes Payable (Note 3)                     190,000                     190,000
Commission Payable (Note 4)                 70,560                      70,560
Franchise Tax Payable                          800                         800
                                       -----------                  ----------

             Total Liabilities             403,215                     388,270

Partners' Capital

     General Partners                      (55,499)                    (55,334)
     Limited Partners 8,500 equity
     units authorized and outstanding    2,077,053                    2,093,430
                                       ------------                 -----------

             Total Partners Capital      2,021,554                    2,038,096

Total Liabilities and                  $ 2,424,769                   $2,426,366
                                       ===========                   ==========
Partners' Capital

</TABLE>



<PAGE>

<TABLE>


                           TMP INLAND EMPIRE IV, LTD.
                        A California Limited Partnership

                              Statements of Income
                                   (Unaudited)
<CAPTION>

                                                 Three Months Ended
                                         March 31               March 31
                                          1998                    1997
<S>                                      <C>                    <C> 


Interest and Other Income                $     392              $     221

Administration Expenses                     16,934                 12,660
                                         ---------              ---------

       Net Loss                          $(16,542)               (12,439)
                                         ---------              ---------

Allocation of Net Income (Loss)
(Note 2)

       General Partners:                $    (165)              $   (124)
                                        ==========              =========

       Limited Partners:                $ (16,377)               (12,315)
                                        ==========              =========

       Limited Partners. Per unit       $   (1.92)               $  (1.44)
                                        ==========              =========

</TABLE>


<PAGE>


<TABLE>


                           TMP INLAND EMPIRE IV, LTD.
                        A California Limited Partnership

                             Statement of Cash Flows
                                   (Unaudited)
<CAPTION>

                                              Three Months        Three Months
                                                  Ended               Ended
                                             March 31, 1998       March 31, 1997
<S>                                          <C>                  <C>

Operating Activities:

Net Loss                                     $(16,542)            $(21,623)

  Increase (Decrease) in Due to Manager         3,050                    0
  Increase in Receivables                        (323)                   0
  Increase (Decrease) in Accounts Payable
         and Accrued Liabilities               (4,068)              30,669
  Increase in Due to/from Affiliates           (6,487)                   0
  Increase (Decrease) in Taxes Payable         14,555                    0
                                             ---------            --------


        Net Cash Provided by (Used In)
        Operating Activities                   (9,815)               9,046
                                            ----------            ---------

Investing Activities:
       Net Cash Provided by (Used In)
       Investing Activities                   (22,673)             (20,143)

Financing Activities
       Net Cash Provided by (Used In)              --                   --
       Financing Activities

Increase (Decrease) In Cash                 $ (32,488)            $(11,097)

Beginning Cash                              $  75,651             $ 32,971
                                            ---------             --------

Ending Cash                                $   43,163             $ 21,874
                                           ===========            ========
</TABLE>



<PAGE>



                            TMP INLAND EMPIRE IV, LTD
                        a California Limited Partnership
                        Notes to the Financial Statements
                    For the Three Months Ended March 31, 1998
                                   (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.  These  organization  costs have been  completely
amortized as of 1997.

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,  1998 and 1997,  profits,  losses  and cash  distributions  were
allocated  99 percent to the  limited  partners  and one  percent to the general
partners.



<PAGE>


NOTE 3 - Note Payable

As of March 31, 1998 and 1997,  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, 1998 and 1997, the  Partnership had a payable to a related party
for services rendered relating to sales of properties in 1989 and 1990.


NOTE 5 - Property Taxes Payable

Property taxes payable as of March 31, 1998 is as follows:
<TABLE>
<CAPTION>
<S>                <C>           <C>

                   1995          $ 42,365
                   1996            27,711
                   1997            35,456
                   1998            33,070
                                 --------
                                  138,602
</TABLE>

If  property  taxes  remain  delinquent  for five  years,  then the  County  can
foreclose on the property.  Management  plans to take necessary steps to prevent
foreclosures.

NOTE 6 - Restatement  and  reissuance of 1997 financial statements and the first
         quarter ended March 31, 1998

In  compliance  with  Statement  of  Financial   Accounting  Standards  No.  121
Accounting for the Impairment of Long-Lived  Assets and for Long-Lived Assets to
e Disposed Of (SFAS 121), the 1996 financial  statements reported an expense for
the decline in fair value of unimproved land of $3,254,195. The   1997 financial
statements  originally  issued with the auditor's  report dated January 28, 1998
reported  $1,741,509   of  income  due to  appreciation  in fair  value of land.
Current  clarifications  reveals  that SFAS 121 does not provide  for  recording
appreciation  in fair value of an asset even in view of  previously  recording a
decline  in  value. Therefore, the 1997 financial  statements were   restated to
remove the appreciation in fair value of land.

In addition,  certain  carrying costs of land that were  previously  capitalized
were restated as current expenses in the amount of $12,660 for the quarter ended
March 31, 1997 and $16,934 for the quarter ended March 31, 1998.

<PAGE>



                        TMP INLAND EMPIRE IV, LTD.
                    a California Limited Partnership
             For the Three Months Ended March 31, 1998


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

Partnership  revenues  during the three month  periods  ended March 31, 1998 and
1997  consisted  primarily of interest  income.  There were no  properties  sold
during the first  quarters of 1998 and 1997.  There was one property sold during
the second quarter of 1997.

Investing Activities used approximately $44,000 for the three months ended March
31, 1998 and  $42,000 for the three  months  ended  March 31,  1997,  mainly for
carrying costs of the land held for investment.

The  Partnership had six properties as of March 31, 1998 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.




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 12, 1998

                                    TMP INLAND EMPIRE IV, LTD.
                    a California Limited Partnership


                  By: TMP Investments, Inc., as General Partner

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

                              \s\ Anthony W. Thompson
                     By:__________________________________
                         Anthony W. Thompson, Exec. V.P.


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

                              \s\ William O. Passo
                     By:___________________________________
                         William O. Passo, General Partner

                              \s\ Anthony W. Thompson
                     By:___________________________________
                        Anthony W. Thompson, General Partner

                              \s\ Scott E. McDaniel
                     By ____________________________________
                                Scott E. McDaniel