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

                           FORM 10-K

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

For the fiscal year ended      Commission file number 33-32744
December 31,1998

             CSA Income Fund IV Limited Partnership         
        (Exact name of registrant as specified in its charter)

        Massachusetts                          No.04-3072449 
(State or other jurisdiction of               (I.R.S.Employer
incorporation or organization)                 Identification No.)

22 Batterymarch St., Boston, MA                        02109   
(Address of principal executive                       Zip Code
           offices)

Registrant's telephone number, including area code:(617)357-1700
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: 506,776
                   Units of Limited Partnership Interest

Indicate by check whether 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 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     

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 ]

Number of shares outstanding of each registrant's classes of securities:

                                              Number of Units
    Title of Each Class                       at December 31, 1998
Units of Limited Partnership                      506,776
Interest:  $100 per unit

                  DOCUMENTS INCORPORATED BY REFERENCE       
           Portions of Part IV are incorporated by reference
             to Amendment No. 1 to Form S-1 and Form S-1,
                    Registration No. 33-32744 

The exhibit index is located on pages 18 and 19.
<PAGE>
                              Part I

Item 1.  Business

CSA Income Fund IV Limited Partnership (the "Partnership") is a 
limited partnership organized under the provisions of the 
Massachusetts Uniform Limited Partnership Act.  The Partnership is 
composed of CSA Lease Funds, Inc. (an affiliate of CSA Financial 
Corp.), the sole General Partner, and as of December 31, 1998, 2,725 
Limited Partners owning 506,776 Units of Limited Partnership Interest 
of $100 each. The capital contributions of the Partners aggregated 
$50,677,600.  The Partnership was formed on December 21, 1989 and 
commenced operations on April 18, 1990.

The Partnership was organized to engage in the business of acquiring 
income-producing equipment for investment.  The Partnership's 
principal objectives are:

1. To acquire and lease equipment, primarily through Operating Leases, 
   to generate income during their entire useful life;

2. To provide monthly distributions of cash to the Limited Partners 
   from leasing revenues and from the proceeds of sale or other 
   disposition of Partnership equipment; 

3. To reinvest in additional equipment a portion of lease revenues and 
   a substantial portion of Cash From Sales and Refinancing during the 
   first years of the Partnership's operations.

The Partnership was formed primarily for investment purposes and not
as a "tax shelter".

The Partnership shall terminate on December 31, 2014 unless sooner 
terminated.

The Partnership has no direct employees.  The General Partner has full 
and exclusive discretion in management and control of the Partnership.

Selection of the equipment for purchase and lease is based principally 
on the General Partner's evaluation of the usefulness of the equipment 
in commercial or industrial applications and its estimate of the 
potential demand for the equipment at the end of the initial lease 
term.


The Partnership's equipment may include:

1. New and reconditioned computer peripheral equipment, computer 
   terminal systems and data processing systems manufactured by companies 
   such as Compaq Computer Corporation, Dell Computer Corporation, EMC
   Corporation and International Business Machines, Inc. (IBM).

2. New telecommunications and telecomputer equipment consisting 
   primarily of private automated branch exchanges (PBX's), advanced 
   high-speed digital telephone switching devices, voice/data 
   transmission devices and telephone/computer networks as well as 
   telephone handsets and facsimile transmission products.
<PAGE>
3. New office equipment consisting primarily of photocopying and 
   graphic processing equipment.

4. New highway transportation equipment and new and reconditioned 
   transportation equipment consisting primarily of tractors, 
   trailers, trucks, intermodal equipment, railroad rolling stock,
   passenger vehicles and corporate or commercial aircraft.

5. Miscellaneous other types of equipment which meet the investment 
   objectives of the Partnership.

The equipment leasing industry is highly competitive.  In initiating its 
leasing transactions, the Partnership competes with leasing companies,
manufacturers that lease their products directly, equipment brokers, dealers 
and financial institutions, including commercial banks and insurance companies.
Many competitors are larger than the Partnership and have access to more 
favorable financing.Competitive factors in the equipment leasing business 
primarily involve pricing and other financial arrangements.  Marketing 
capability is also a factor.

As of December 31, 1998, substantially all of the remaining equipment in the 
Partnership's portfolio was leased under 143 separate leases to 75 lessees. 
The lessees providing at least 10% of total revenues during 1998 are as follows:
<TABLE>
                              <S>                     <C>
    Siemens Business Communications Systems, Inc.     21%
    America Online Inc.                               20%
</TABLE>
As of December 31, 1998, approximately 14% of the Partnership's equipment 
Portfolio (based on cost) is leased outside the United States. The 
Partnership's leases and equipment are described more fully in Notes 3 
and 4 to the Financial Statements included in Item 8.

Item 2.  Properties

The Partnership neither owns nor leases office space or equipment for the 
purpose of managing its day-to-day affairs.  The General Partner, CSA Lease 
Funds, Inc. ("CLF"), has exclusive control over all aspects of the business
of the Partnership, including provision of any necessary office space.  As 
such, CLF will be compensated through Management fees and reimbursement of 
General and Administrative costs related to managing the Partnership's 
business.  Excluded from the allowable reimbursement to the General Partner,
however, will be any of the following:  (1)Expenditures for rent or utilities;
(2) Capital equipment and the related depreciation; and (3) Certain other 
administrative items.


Item 3.  Legal Proceedings

The Partnership is not a party to any pending legal proceedings.

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

No matters were submitted to a vote of security holders, through the 
solicitation of proxies or otherwise, during the fourth quarter of 1998.
<PAGE>

                                   PART II

Item 5.  Market for the Registrant's Equity Securities and Related
         Security Holder Matters
a.   The Partnership's limited partnership interests are not publicly traded.
     There is no active market for the Partnership's limited partnership
     interests and it is unlikely that one will develop. However, partners   
     have received offers to purchase their Limited Partnership units from 
     third parties. In such cases the General Partner has recommended the
     partner should consult their Financial Advisor. If the partner were still
     intent on selling their units, The General Partner, through its
     affiliates CSA Financial Corp. ("CSA"), would be willing to make an offer.
     In certain cases, CSA has purchased Partnership units.

b. Approximate Number of Equity Security Holders:

               Title of Class               Number of Limited Partners
    Units of Limited Partnership Interests      as of 12/31/98     
                  506,776                            2,725     

Item 6.  Selected Financial Data   

The following table sets forth selected financial information 
regarding the Partnership's financial position and operating results.
The information should be used in conjunction with the Financial 
Statements and Notes thereto, and the General Partner's Discussion and 
Analysis of Financial Condition and Results of Operations, which are 
included in Items 7 and 8 of this Report.
<TABLE>
<CAPTION>
                        Years Ended December 31,
                  (IN THOUSANDS EXCEPT PER UNIT AMOUNTS)

                  1998        1997        1996         1995       1994    
<S>                <C>         <C>         <C>          <C>        <C>
Total 
Revenues        $16,987     $13,488      $17,641       $21,917    $21,735 

Net Income        2,671       2,716        1,772           858      2,356 

Net Income
 per Limited 
 Partnership 
 Unit              5.22        5.31         3.46          1.68       4.60

Total Assets     30,692      36,736       25,498       33,734      48,111 

Notes Payable    15,204      20,923        7,573       13,804      23,329 

Limited Recourse
 Notes Payable        -            -         229          581         757 

Cash Distribution 
 per Limited 
 Partnership Unit
 Outstanding       $6.00      $ 7.00      $ 8.00       $ 8.00      $ 8.00 
</TABLE>

<PAGE>
Item 7. General Partner's Discussion and Analysis of Financial
        Condition and Results of Operations

Results of Operations
Rental income for the years ended December 31, 1998, 1997 and 1996 was 
$16,031,035, $12,413,441, and $17,428,344, respectively. The increase in 
rental income during 1998 was primarily due to the additional leases added 
in the second half of 1997 and during 1998 with lessees such as America Online
Inc., Siemens Business Communications Systems, Inc. and Unisys Corporation.

Net income for the years ended December 31, 1998, 1997 and 1996 was $2,670,654,
$2,716,253, and $1,772,216, respectively. The increase in 1998 and 1997 is 
primarily attributable to lower levels of depreciation which were the result 
of the use of accelerated methods of depreciation for a portion  of the 
Partnership's portfolio in prior years. Net income was also affected by a
gain on sale of equipment of $863,210, $865,137, and $108,293 for the years 
ended 1998, 1997 and 1996, which gains can be sizable since a portion of this
equipment may be fully depreciated. Depreciation expense for 1998, 1997 and
1996 was $10,967,117, $8,072,215, and $13,095,023, respectively.  

Interest income for 1998, 1997 and 1996 was $69,999, $124,960, and $90,473,
respectively.  Interest expense was $1,626,363, $1,123,693, and $1,065,689 for
the years ended December 31, 1998, 1997, and 1996, respectively. 

Liquidity and Capital Resources
During 1998, the Partnership generated  $13,021,294 in cash flow from 
operations and $2,237,768 from the sale of equipment. The Partnership utilized 
these funds proceeds from notes payable of $5,070,515 and cash on hand to 
acquire additional equipment of $7,423,505, reduce outstanding notes payable 
by $10,790,020 and make cash distributions of $3,071,370.

The General Partner has put in place a year 2000 ("Y2K) compliance plan and 
it is currently in the process of implementation.  A review of the company's 
computer and communication systems was completed.  The implementation was 
started in 1998 and is anticipated to be completed by mid-1999.  The General 
Partner has designated a Y2K implementation and contact person to coordinate 
all of the third party compliance documentation.  The General Partner has 
confirmed that a significant portion of the third party relationships have or
are in the process of completing their individual year 2000 compliance.

As of December 31, 1998, the Partnership had approximately $1,122,000 in 
equipment off lease and in storage.  This off lease equipment consists 
primarily of six (6) IBM 3900 high speed laser printers, one of which was sold
in January 1999 for $195,000.  The General Partner expects to remarket the 
remaining five (5) of these printers for approximately similar amounts.

The Partnership will continue to invest in select short term leases that 
will maximize the total return of the Limited Partners.  On February 23, 1999, 
the Partnership reached its five year Anniversary Date of Closing.  As of that 
anniversary date, no additional cash receipts from operations or sale of 
equipment can be used for purchase of equipment.  However, cash on hand and 
cash from the financing of existing leases may be used for purchase of
equipment. The Partnership has approximately $2,300,000 available to invest 
in equipment during 1999.

The Partnership's liquidity is determined by cash from operations 
provided by the leases currently in place. It is expected that this cash flow 
will be sufficient to service outstanding debt, pay monthly distributions to
the partners and meet any other commitments and obligations which may arise 
in the ordinary course of business.The Partnership's future liquidity will be 

<PAGE>
dependent upon the addition of leased equipment, the sale and/or re-lease of 
equipment as it comes off lease and the level of debt service.

To date, the Partnership has made cash distributions to the Limited Partners 
ranging from 56% to 78% of their initial investment, depending on when the 
Limited Partner entered the Partnership. The objective of the Partnership is 
to return the Limited Partners' investment through current distributions and 
provide a return on this investment by continued distributions as long as 
the equipment continues to be leased. 

Management reviews the Partnership's projected performance on a periodic basis. 
Based on an analysis of the remaining assets in the Partnership's portfolio 
completed as part of the annual audit process, the General Partner presently 
estimates that the continued cash distributions will return the entire initial 
investment of the Limited Partners and a return thereon. However, the magnitude 
of the return may be lower than originally anticipated at the inception of the 
Partnership. The General Partner will continue to report on the Limited 
Partners' return of investment with each cash distribution and the General 
Partner intends to pursue additional lease investment opportunities to increase 
the Partnership's return on investment. 

Quarterly Financial Data - unaudited

Summarized unaudited quarterly financial data for the years ended 
December 31, 1998 and 1997 are as follows:
<TABLE>
<CAPTION>

1998 Quarter Ended:      12/31        9/30        6/30         3/31   
<S>                       <C>          <C>         <C>          <C>
Total Revenues       $4,423,594   $4,170,840   $4,592,471   $3,800,197
Net Income *            558,218      592,558    1,074,794      445,084
Net Income *   
  Per Limited
  Partnership Unit 
  Outstanding              1.09         1.16         2.10          .87
Cash Distributions
  Per Limited
  Partnership Unit 
  Outstanding              1.50         1.50         1.50         1.50

1997 Quarter Ended:      12/31        9/30        6/30         3/31   
Total Revenues       $3,899,845   $3,528,182   $2,711,295   $3,348,215
Net Income *            353,667      671,191      900,727      790,668
Net Income *   
  Per Limited
  Partnership Unit 
  Outstanding              .69         1.32         1.76          1.54
Cash Distributions
  Per Limited
  Partnership Unit 
  Outstanding             1.50         1.50         2.00          2.00

</TABLE>

* The fourth quarter of 1998 includes no adjustments to residual values.
In 1997, the Partnership recorded  a $74,500 charge to expense for adjustments
to residual values anticipated at that time.

Item 7A. Quantitative and Qualitative Disclosures about Market Risk

N/A

<PAGE>

Item 8. Financial Statements




                       CSA Income Fund IV Limited Partnership 

                          Index to Financial Statements

<TABLE>

                                                          Page
                                                          Number
<S>                                                        <C>
Independent Auditors' Report                                8

Statements of Financial Position 
as of December 31, 1998 and 1997                            9

Statements for the Years Ended 
December 31, 1998, 1997 and 1996


   Operations                                               10

   Cash Flows                                               11

   Changes in Partners' Capital (Deficit)                   12 


Notes to Financial Statements                               13

</TABLE>
<PAGE>

                         INDEPENDENT AUDITORS' REPORT



To the Partners of CSA Income Fund IV Limited Partnership


We have audited the accompanying statements of financial position of 
CSA Income Fund IV Limited Partnership as of December 31, 1998 and 
1997, and the related statements of operations, cash flow, and changes 
in partners' capital (deficit) for the three years then ended. These 
financial statements are the responsibility of the Partnership's 
management. Our responsibility is to express an opinion on these 
financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing 
standards. Those standards require that we plan and perform the audit 
to obtain reasonable assurance about whether the financial statements 
are free of material misstatement. An audit includes examining, on a 
test basis, evidence supporting the amounts and disclosures in the 
financial statements. An audit also includes assessing the accounting 
principles used and significant estimates made by management, as well 
as evaluating the overall financial statement presentation. We believe 
that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present 
fairly, in all material respects, the financial position of CSA Income 
Fund IV Limited Partnership as of December 31, 1998 and 1997, and the 
results of its operations and its cash flows for the three years then 
ended in conformity with generally accepted accounting principles. 





                                \s\ Sullivan Bille, P.C.



Boston, Massachusetts
March 16, 1999

<PAGE>
<TABLE>
<CAPTION>

                       CSA INCOME FUND IV LIMITED PARTNERSHIP 
                       Statements of Financial Position as of
                              December 31, 1998 and 1997 


                                           1998            1997     
Assets
<S>                                         <C>             <C> 
Cash and cash equivalents             $   560,193      $ 1,746,766 
Rentals receivable                        391,628          559,640 
Value added tax receivable                      -            3,028 
Accounts receivable-affiliates            524,059          292,804 
Other receivable                          218,343            9,290 

Rental equipment, at cost              59,956,146       59,318,040 
   Less accumulated depreciation      (30,958,816)     (25,193,487) 

         Net rental equipment          28,997,330       34,124,553 


Total assets                          $30,691,553      $36,736,081 


Liabilities and Partners' Capital
Accrued management fees               $   127,500      $   103,996 
Accrued interest expense                   32,965           52,260 
Accounts payable                           24,745           43,058 
Deferred income                           132,686           42,889 
Notes payable                          15,203,836       20,923,341 

         Total liabilities             15,521,732       21,165,544 

Partners' capital:
  General Partner:
   Capital contribution                     1,000            1,000 
   Cumulative net income                   38,662           11,955 
   Cumulative cash distributions         (354,134)        (323,420)
                                         (314,472)        (310,465)
  Limited Partners (506,776 units):
   Capital contributions net of
    offering costs                     46,201,039       46,201,039 
   Cumulative net income                3,827,366        1,183,419 
   Cumulative cash distributions      (34,544,112)     (31,503,456) 
                                       15,484,293       15,881,002 
   Total partners' capital             15,169,821       15,570,537 
   
Total liabilities and 
     partners' capital                 30,691,553      $36,736,081 

</TABLE>
        See accompanying notes to financial statements.
<PAGE>
<TABLE>
<CAPTION>

                     CSA INCOME FUND IV LIMITED PARTNERSHIP

                         Statements of Operations
             for the years ended December 31, 1998, 1997 and 1996 


                                 1998            1997            1996   
<S>                               <C>             <C>             <C> 
Revenue:
  Rental income              $16,031,035     $12,413,441    $17,428,344 
  Interest income                 69,999         124,960         90,473 
  Gain on sale of 
   equipment                     863,210         865,137        108,293 
  Net gain on foreign
   currency transactions          22,858          83,999         13,884 
     Total revenue            16,987,102      13,487,537     17,640,994 


Expenses:
  Depreciation and 
   amortization               10,967,117       8,072,215     13,095,023 
  Interest                     1,626,363       1,123,693      1,065,689 
  Management fee               1,456,914       1,288,394      1,399,993 
  General and 
   administrative                266,054         286,982        308,073 

     Total expenses           14,316,448      10,771,284     15,868,778 

  Net income                 $ 2,670,654     $ 2,716,253    $ 1,772,216 

Income allocation:  
   General Partner           $    26,707     $    27,163    $    17,722 
   Limited Partners            2,643,947       2,689,090      1,754,494 


                              $2,670,654     $ 2,716,253    $ 1,772,216 

Net income per    
   Limited Partnership Unit   $     5.22     $      5.31    $      3.46 

Number of 
Limited Partnership 
units outstanding               506,776          506,776        506,776 

</TABLE>
 

               See accompanying notes to financial statements.

<PAGE>
<TABLE>
<CAPTION>

                     CSA INCOME FUND IV LIMITED PARTNERSHIP 
                         Statements of Cash Flows for the
                  years ended December 31, 1998, 1997 and 1996 

                                     1998             1997         1996   
<S>                                   <C>              <C>          <C> 
Cash flows from operations:
 Cash received from rental 
  of equipment                     $16,314,730    $13,073,527   $16,783,224 
 Cash paid for operating and
  management expenses               (1,717,777)   ( 1,511,339)   (1,703,797) 
 Interest paid                      (1,645,658)   ( 1,141,088)   (1,109,596) 
 Interest received                      69,999        124,960        90,473 

   Net cash from operations         13,021,294     10,546,060    14,060,304 


Cash flows from investments:
 Value added tax deposits                     -        77,483         9,402 
 Purchase of equipment               (7,423,505)  (24,487,895)  (13,050,318)
 Sale of equipment                    2,237,768     5,793,771     2,994,079 

   Net cash used for 
     investments                     (5,185,737)  (18,616,641)  (10,046,837) 


Cash flows from financing:
 A/P equipment purchases                      -             -       (84,691) 
 Advances (to) from 
  affiliates                           (231,255)     (908,343)    1,142,250 
 Proceeds from notes payable          5,070,515    19,876,925     4,014,939 
 Repayment of notes payable         (10,790,020)   (6,755,179)  (10,598,644)
 Payment of cash 
  distributions                      (3,071,370)   (3,583,264)   (4,095,160) 
   Net cash (used for) 
     provided by financing           (9,022,130)    8,630,139    (9,621,306) 

Net change in cash and
  cash equivalents                   (1,186,573)      559,558    (5,607,839) 


Cash and cash equivalents
  at beginning of year                1,746,766     1,187,208     6,795,047  


Cash and cash equivalents
  at end of year                    $   560,193   $ 1,746,766   $ 1,187,208 

</TABLE>

          See accompanying notes to financial statements.

<PAGE>
<TABLE>
<CAPTION>

                    CSA INCOME FUND IV LIMITED PARTNERSHIP

            Statement of Changes in Partners' Capital (Deficit)

              For years ended December 31, 1998, 1997, and 1996


                                Limited        General
                                Partners       Partner        Total   
<S>                                <C>           <C>            <C>
Balance at December 31,1995     $19,039,057 $  (278,565)   $18,760,492

Net income                        1,754,494      17,722      1,772,216 

Cash distributions               (4,054,208)   ( 40,952)    (4,095,160)


Balance at December 31, 1996     16,739,343    (301,795)    16,437,548 


Net income                        2,689,090      27,163      2,716,253 

Cash distributions               (3,547,431)   ( 35,833)    (3,583,264)

Balance at December 31, 1997     15,881,002    (310,465)    15,570,537 


Net income                        2,643,947      26,707      2,670,654 

Cash distributions               (3,040,656)   ( 30,714)    (3,071,370) 

Balance at December 31, 1998    $15,484,293 $  (314,472)   $15,169,821 

</TABLE>
See accompanying notes to financial statements

<PAGE>

                             CSA INCOME FUND IV LIMITED PARTNERSHIP
                                 Notes to Financial Statements
                                          December 31, 1998

(1)  Organization
CSA Income Fund IV Limited Partnership ("the Partnership") was formed 
under the Massachusetts Uniform Limited Partnership Act on December 
21, 1989 with an initial investment of $1,000, from its sole General 
Partner, CSA Lease Funds, Inc. and the purchase of 10 Limited 
Partnership Units at $100 each by an initial Limited Partner.  The 
Partnership's primary activity is to invest in equipment to be leased 
to third parties.  On February 22, 1990, the Partnership began its 
offering of Limited Partnership Units.  The Partnership commenced 
operations on April 18, 1990. As of December 31, 1998, the Partnership 
has 506,776 units of Limited Partnership interest outstanding 
representing aggregate capital contributions of $50,677,600.

Distributable cash from operations, sales or refinancing and profits 
or losses for federal income tax purposes are allocated 99% to the 
Limited Partners and 1% to the General Partner until Payout has 
occurred, and thereafter, 85% and 15% respectively.  Payout is 
achieved when the aggregate amount of all distributions to the Limited 
Partners equals the amount of the Limited Partners' original invested 
capital plus a cumulative 9% annual return (compounded daily) on 
unreturned invested capital.

In accordance with the Partnership Agreement, the Partnership is 
liable to the General Partner (or its affiliates) for management fees 
calculated at 5% of gross rental revenues and to certain reimbursable 
operating expenses subject to limitations stated in the Partnership 
Agreement.

(2)  Significant Accounting Policies
The Partnership records are maintained on the accrual basis of accounting.

The Partnership accounts for equipment leases as operating leases; therefore, 
rental income is reported when earned. Equipment purchases are depreciated 
on a straight-line basis over the initial term of the lease to estimated 
realizable value.  On a periodic basis, the Partnership conducts a review of 
the residual value of its equipment as compared to the estimated net realizable
values for such equipment upon expiration of the related lease. In connection 
with this review, there was no residual values adjustments in 1998.  In the 
years ended December 31, 1997 and 1996, the Partnership recorded additional 
charges of $74,500 and $300,000, respectively, to depreciation expense.  

Deferred income represents prepaid rentals received for active leases that are 
recognized when earned.

No provision for income taxes has been made as the liability for such taxes is 
that of the Partners rather than the Partnership. The Partnership's federal tax 
return is prepared solely to arrive at the Partners' individual taxable income 
or loss as reported on form K-1. Partnership taxable income (loss) in 1998,
1997 and 1996 was $1,271,389, ($7,349,952), and $1,628,070, respectively. The 
differences between Partnership taxable income and book income are primarily 

<PAGE>
                            CSA INCOME FUND IV LIMITED PARTNERSHIP
                                 Notes to Financial Statements

due to the difference between tax and book depreciation methods and the related
differences in the gain or loss on sales of equipment. 

The Partnership considers short-term investments with original maturities of 
three months or less to be cash equivalents.

The preparation of financial statements in conformity with generally accepted 
Accounting principles requires the General Partner to make estimates and 
assumptions that affect the reported amounts of assets and liabilities and 
disclosure of contingent assets and liabilities as of the date of the financial 
statements and the reported amounts of revenue and expenses during the 
reporting year.  Actual results could differ from those estimates.

(3)  Rental Equipment
The Partnership purchases equipment subject to existing leases either directly 
from CSA Financial Corp. or the manufacturer.  The purchase price to the 
Partnership is equal to the lesser of fair market value or cost as adjusted, 
if necessary, for rents received and carrying costs, plus an acquisition fee of 
4% of cost. In accordance with Section 6.4 (b) of the Partnership Agreement,
the total of all acquisition fees paid to the General Partner shall not 
exceed 15% of the total Capital Contributions received by the Partnership.
This lifetime acquisition fee limit was met during 1996 and the General 
Partner is no Longer paid acquisition fees on any new Partnership equipment 
acquisitions.  On February 23, 1998, the Partnership reached its five year
Anniversary Date of Closing.  As of that anniversary date, no additional cash
receipts from operations or sale of equipment can be used for the purchase of
equipment.  However, cash on hand and cash from the financing of existing
leases may be used for purchase of equipment.  The Partnership has 
approximately $2,300,000 available to invest in equipment during 1999.

A summary of changes in rental equipment owned and its related 
accumulated depreciation is as follows:
<TABLE>
<CAPTION>
                   Beginning                                Ending
                    Balance       Additions      Sales      Balance
<S>                   <C>            <C>          <C>         <C>
Costs for years ended:

December 31, 1996  $77,469,983   $13,050,318  $31,085,950  $59,434,351

December 31, 1997  $59,434,351   $24,487,895  $24,604,206  $59,318,040

December 31, 1998  $59,318,040   $ 7,423,505  $ 6,785,399  $59,956,146

Accumulated depreciation for
the years ended:

December 31, 1996  $51,633,820   $13,095,023  $28,082,483  $36,646,360

December 31, 1997  $36,646,360   $ 8,072,215  $19,525,088  $25,193,487

December 31, 1998  $25,193,487   $10,967,117  $ 5,201,788  $30,958,816

</TABLE>
<PAGE>

                            CSA INCOME FUND IV LIMITED PARTNERSHIP
                                 Notes to Financial Statements

(4)  Leases
As of December 31, 1998, substantially all of the Partnership's equipment was 
leased under 143 separate leases to 75 lessees.  Approximately 14% of the 
Partnership's equipment portfolio (based on cost) has been leased outside the 
United States.  Two lessees represented approximately 41% (21% and 20%, 
respectively) of the Partnership's revenues in 1998 as compared to two lessees 
representing 28% (15% and 13%, respectively) in 1997 and two lessees 
representing 35% (20% and 15%, respectively) in 1996. 

Minimum annual lease rentals scheduled to be received under existing 
noncancellable operating leases are as follows:
<TABLE>

                          Year                 Amount
                           <S>                   <C>
                          1999               $11,990,653
                          2000                 6,908,804
                          2001                 1,693,163
                                             $20,592,620 

</TABLE>



(5)  Notes Payable
Notes payable consist of nonrecourse notes due in monthly, quarterly and 
annual installments, with interest rates that range from 6.25% to 10.50% per 
annum.  Such notes are collateralized by equipment with a cost of $38,349,453. 
Annual maturities of notes payable at December 31, 1998, are as follows:
<TABLE>

                            Year                Amount
                             <S>                  <C> 
                            1999             $ 8,931,367
                            2000               4,853,173
                            2001               1,419,296
                                             $15,203,836


</TABLE>
<PAGE>
                         CSA INCOME FUND IV LIMITED PARTNERSHIP

                               Notes to Financial Statements

(6)  Fair Values of Financial Instruments
The following methods and assumptions were used to estimate the fair 
value of financial instruments:

Cash and Cash Equivalents
The carrying amount of cash and cash equivalents approximates its fair 
value due to their short maturity.

Notes Payable
The fair value of the Partnership's notes payable is based on the market price 
for the same or similar debt issues or on the current rates offered to the 
Partnership for debt with the same remaining maturity. The  carrying amount of 
notes payable approximates fair value. 

(7)  Related Party Transactions
Fees and other expenses paid or accrued by the Partnership to the 
General Partner or affiliates of the General Partner for 1998, 1997 
and 1996 are as follows:
<TABLE>
                                     1998            1997          1996    
<S>                                   <C>             <C>           <C>
Equipment acquisition fees     $        -      $        -       $1,028,920 
Management fee                  1,456,914       1,288,394        1,399,993 
Reimbursable operating 
  expenses                        172,879         182,862          169,016 
                               $1,629,793      $1,471,256       $2,597,929 
</TABLE>
(8)  Net Cash Provided from Operations
The reconciliation of net income to net cash from operations for 1998, 
1997 and 1996 is as follows:
<TABLE>
                                  1998           1997            1996       
<S>                                <C>            <C>             <C>  
Net Income                    $ 2,670,654     $ 2,716,253     $ 1,772,216  
Gain on sale of equipment        (863,210)       (865,137)       (108,293) 
Depreciation and 
 amortization                  10,967,117       8,072,215      13,095,023  
(Increase) decrease
 in receivables                   171,040         457,258        (507,459) 
Other                                   -         133,090               -  
(Decrease) Increase in payables 
 and deferred income               75,693          32,381        (191,183) 

Net cash from operations      $13,021,294     $10,546,060     $14,060,304

</TABLE>

(9)  Net Gain on Foreign Currency Transactions
Net gain from foreign currency transactions resulted from exchange gains and 
losses on certain leases which call for the payment of rentals in British 
Pound Sterling.  
<PAGE>

                            CSA INCOME FUND IV LIMITED PARTNERSHIP
                                 Notes to Financial Statements

Item 9.  Changes in and Disagreements with Accountants on Accounting 
               and Financial Disclosures
None 

                                    PART III

Item 10.  Directors and Executive Officers of the Registrant
The Partnership has no directors or officers.  All management 
functions are performed by CSA Lease Funds, Inc., the corporate 
General Partner. The current directors and officers of the corporate 
General Partner are:
<TABLE>

     Name            Age        Title(s)            Elected 
<S>                  <C>          <C>                  <C> 
J. Frank Keohane      62   Director & President     04/01/88
Richard P. Timmons    44   Controller               03/01/95
Trevor A. Keohane     32   Director                 05/28/93

</TABLE>

Term of Office:  Until a successor is elected.


Item 11.  Executive Compensation
(a), (b), (c), (d) and (e):  The Officers and Directors of the General 
Partner receive no current or proposed direct remuneration in such 
capacities, pursuant to any standard arrangements or otherwise, from 
the Partnership.  In addition, the Partnership has not paid and does 
not propose to pay any options, warrants or rights to the Officers and 
Directors of the General Partner.  There exists no remuneration plan 
or arrangement with any Officer or Director of the General Partner 
resulting from resignation, retirement or any other termination.  See 
Note 7 of the Notes to Financial Statements included in Item 8 of this 
report for a description of the remuneration paid by the Partnership 
to the General Partner and its affiliates.

<PAGE>

Item 12.  Security Ownership of Certain Beneficial Owners and
          Management

By virtue of its organization as a limited partnership, the 
Partnership has outstanding no securities possessing traditional 
voting rights. However, as provided for in Section 13.2 of the 
Agreement of Limited Partnership (subject to Section 13.3), a majority 
in interest of the Limited Partners have voting rights with respect to:

1.  Amendment of the Limited Partnership Agreement.

2.  Termination of the Partnership.

3.  Removal of the General Partner.

4.  Approval or disapproval of the sale of substantially all the 
assets of the Partnership if such sale occurs prior to February 22, 
1997.

No person or group is known by the General Partner to own beneficially 
more than 5% of the Partnership's outstanding Limited Partnership 
Units as of December 31, 1998.


Item 13.  Certain Relationships and Related Transactions

An affiliate of the General Partner also acts as General Partner for 
CSA Income Fund Limited Partnership III.  The General Partner or 
affiliates may act in that capacity for other income fund limited 
partnerships in the future.


                                   PART IV

Item 14.  Exhibits, Financial Statements, Schedules and Reports
          on Form 8-K

(a)  (1)  Financial Statements - See accompanying Index to Financial 
          Statements - Item 8.

     (2)  Financial Statement Schedules - All schedules have been 
          omitted as not required, not applicable or the information 
          required to be shown therein is included in the Financial 
          Statements and related notes.


     (3)  Exhibits Index


Except as set forth below, all exhibits to Form 10-K, as set forth in 
item 601 of Regulation S-K are not applicable.

<PAGE>

<TABLE>
                                                  Page Number or
Exhibit                                           Incorporated by
Number                 Description                   Reference   
 <S>                       <C>                          <C>
 4.1         Agreement of Limited Partnership            *

 4.2         Subscription Agreement                      **

 4.3         Certificate of Limited Partnership and      ***
             Agreement of Limited Partnership dated
             April 8, 1988

 4.4         First Amended and Restated Certificate      ****
             of Limited Partnership and Agreement 
             of Limited Partnership dated June 22,
             1988

10.1         Escrow Agreement                             ***

12.0         First Amendment to Agreement of Limited
             Partnership                                  ***** 

27.1         Financial Data Schedule 

</TABLE>
*      Included as Exhibit A to Amendment No. 1 to Form S-1, 
       Registration Statement No. 0-19939 filed with the Securities 
       and Exchange Commission on June 23, 1988.

**    Included as Exhibit C to Amendment No. 1 to Form S-1 to 
      Registration Statement No. 0-19939 filed with the Securities and 
      Exchange Commission on June 23, 1988.

***   Included with the Exhibit Volume to Form S-1, Registration 
      Statement No. 0-19939 filed with the Securities and Exchange 
      Commission on April 15, 1988.

****  Included with the Exhibit Volume to Amendment No. 1 to Form S-1, 
      Registration Statement No. 0-19939 filed with the Securities and 
      Exchange Commission on June 23, 1988.

***** Included in Consent Statement filed on August 3, 1994.

 (b)  Reports on Form 8-K: There were no reports filed during the 
      fourth quarter of 1998.

<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.


                             CSA Income Fund IV Limited 
                              Partnership (Registrant)
                              By its General Partner, 
                                CSA Lease Funds, Inc.



Date:                  
                                 J. Frank Keohane, President 

Pursuant to the requirements of the Securities Exchange Act of 1934, 
this report has been signed below by the following persons on behalf 
of the registrant and in the capacities and on the dates indicated.

                           By its General Partner, 
                           CSA Lease Funds, Inc.



Date:                   
                                 J. Frank Keohane 
                                 President & Director
                                 Principal Executive Officer




Date:                  
                                  Richard P. Timmons  
                                  Controller    
                                  Principal Accounting and
                                  Finance Officer