<PAGE>1

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549



FORM 8-K



Pursuant to Section 13 or 15(d) of the Securities and Exchange
Act of 1934


Date of Report (Date of earliest event reported): December 12,
1997



Exact name of registrant as specified in its charter: T. ROWE
PRICE REALTY INCOME FUND IV, AMERICA'S SALES-COMMISSION-FREE REAL
ESTATE LIMITED PARTNERSHIP


State or other Jurisdiction of Incorporation or Organization:
Maryland

I.R.S. Employer Identification No.:95-4147931

Commission File Number: 0-17636

Address of principal executive offices:  100 East Pratt Street,
Baltimore, Maryland  21202

Registrant's telephone number, including area code: 1-800-638-5660


Former name of former address, if changes since last report:   
Not Applicable                               
                                 










<PAGE>
 <PAGE> 2
 
 
 PART II - OTHER INFORMATION
 
 Item 5. OTHER INFORMATION
 
    On December 12, 1997, the Fund distributed its net assets
 aggregating $6,468,643 in the form of a final liquidating
 distribution.  The Fund will be dissolved prior to the end of
 1997.
 
 
    All other items are omitted because they are not
 applicable or the answers are none.
 
    Pursuant to the requirements of the Securities and
 Exchange Act of 1934, the registrant has daily caused this
 report to be signed on its behalf by the undersigned hereunto
 duly authorized.
 
 
                          T. ROWE PRICE REALTY INCOME FUND IV,
                          AMERICA'S SALES-COMMISSION-FREE REAL
                          ESTATE LIMITED PARTNERSHIP
 
                          By:  T. Rowe Price Realty Income 
                               Fund IV Management, Inc., as
                               General Partner
 
 
 
                          By:  /s/Lucy B. Robins
                               Lucy B. Robins
                               Vice President
 
  <PAGE>
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1

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

Pursuant to Section 13 or 15(d) of the Securities and Exchange
Act of 1934

Date of Report (Date of earliest event reported): December 12,
1997

Exact name of registrant as specified in its charter: T. ROWE
PRICE REALTY INCOME FUND IV, AMERICA'S SALES-COMMISSION-FREE REAL
ESTATE LIMITED PARTNERSHIP

State or other Jurisdiction of Incorporation or Organization:
Maryland

I.R.S. Employer Identification No.:95-4147931

Commission File Number: 0-17636

Address of principal executive offices:  100 East Pratt Street,
Baltimore, Maryland  21202

Registrant's telephone number, including area code: 1-800-638-5660

Former name of former address, if changes since last report:   
Not Applicable
2
 
 
 PART II - OTHER INFORMATION
 
 Item 5. OTHER INFORMATION
 
    On December 12, 1997, the Fund distributed its net assets
 aggregating $6,468,643 in the form of a final liquidating
 distribution.  The Fund will be dissolved prior to the end of
 1997.
 
 
    All other items are omitted because they are not
 applicable or the answers are none.
 
    Pursuant to the requirements of the Securities and
 Exchange Act of 1934, the registrant has daily caused this
 report to be signed on its behalf by the undersigned hereunto
 duly authorized.
 
 
                          T. ROWE PRICE REALTY INCOME FUND IV,
                          AMERICA'S SALES-COMMISSION-FREE REAL
                          ESTATE LIMITED PARTNERSHIP
 
                          By:  T. Rowe Price Realty Income 
                               Fund IV Management, Inc., as
                               General Partner
 
 
 
                          By:  /s/Lucy B. Robins
                               Lucy B. Robins
                               Vice President