----

----

| For the quarterly period ended | September 30, 2010 |   |
|--------------------------------|-------------------------|--------|

| For the transition period from |   | to |   |
|--------------------------------|--------|----|--------|

| Commission_File_Number_ | 333-37504 |   |
|-------------------------|-----------|--------|

| ICON Income Fund Eight B L.P.                          |
|--------------------------------------------------------|
| (Exact name of registrant as specified in its charter) |

| Delaware                                                       | 13-4101114                           |
|----------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

| 100 Fifth Avenue, 4th Floor, New York, New York | 10011      |
|-------------------------------------------------|------------|
| (Address of principal executive offices)        | (Zip code) |

| (212) 418-4700                                       |
|------------------------------------------------------|
| (Registrant's telephone number, including area code) |

----

| ICON Income Fund Eight B L.P.Table of Contents                                                                |
|---------------------------------------------------------------------------------------------------------------|
|                                                                                                          |   | Page |
|                                                                                                          |   |   |
| PART I - FINANCIAL INFORMATION                                                                                |   |
|                                                                                                          |   |   |
| Item 1.  Consolidated Financial Statements                                                          | 1 |
|                                                                                                          |   |   |
| Consolidated Balance Sheets                                                                                   | 1 |
|                                                                                                          |   |   |
| Consolidated Statements of Operations                                                                         | 2 |
|                                                                                                          |   |   |
| Consolidated Statements of Changes in Partners’ Equity                                                  | 3 |
|                                                                                                          |   |   |
| Consolidated Statements of Cash Flows                                                                         | 4 |
|                                                                                                          |   |   |
| Notes to Consolidated Financial Statements                                                                    | 5 |
|                                                                                                          |   |   |
| Item 2. General Partner’s Discussion and Analysis of Financial Condition and Results of Operations | 11 |
|                                                                                                          |   |   |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk                                            | 16 |
|                                                                                                          |   |   |
| Item 4. Controls and Procedures                                                                               | 16 |
|                                                                                                          |   |   |
| PART II – OTHER INFORMATION                                                                             |   |
|                                                                                                          |   |   |
| Item 1. Legal Proceedings                                                                                     |   | 17 |
|                                                                                                          |   |   |
| Item 1A. Risk Factors                                                                                    |   | 17 |
|                                                                                                          |   |   |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                           | 17 |
|                                                                                                          |   |   |
| Item 3. Defaults Upon Senior Securities                                                                       | 17 |
|                                                                                                          |   |   |
| Item 4. (Removed and Reserved)                                                                                | 17 |
|                                                                                                          |   |   |
| Item 5. Other Information                                                                                     |   | 17 |
|                                                                                                          |   |   |
| Item 6. Exhibits                                                                                              |   | 18 |
|                                                                                                          |   |   |
| Signatures                                                                                                    |   | 19 |

----

Table of Contents

PART I – FINANCIAL INFORMATION

Item 1.  Consolidated Financial Statements

| ICON Income Fund Eight B L.P.                                 |   |
|---------------------------------------------------------------|--------|
| (A Delaware Limited Partnership)                              |   |
| Consolidated Balance Sheets                                   |   |
|                                                          |   |
|                                                          |   |
| Assets                                                        |   |
|                                                          |   | September 30, |   |   |   |   |
|                                                          |   | 2010 |   |   | December 31, |   |
|                                                          |   | (unaudited) |   |   | 2009 |   |
|  Current assets:                                         |   |   |   |   |   |   |
|  Cash and cash equivalents                               |   | $ | 213,021 |   |   | $ | 149,843 |   |
|  Current portion of net investment in finance lease      |   |   | 1,222,709 |   |   |   | 2,290,231 |   |
|  Other current assets                                    |   |   | 42,895 |   |   |   | 36,540 |   |
|                                                          |   |   |   |   |   |   |   |   |
|  Total current assets                                    |   |   | 1,478,625 |   |   |   | 2,476,614 |   |
|                                                          |   |   |   |   |   |   |   |   |
|  Non-current assets:                                     |   |   |   |   |   |   |   |   |
|  Net investment in finance lease, less current portion   |   |   | - |   |   |   | 621,280 |   |
|  Leased equipment at cost (less accumulated depreciation |   |   |   |   |   |   |   |   |
|   of $36,553,378 and $33,739,596, respectively)     |   |   | 38,863,342 |   |   |   | 41,677,124 |   |
|  Investment in joint venture                             |   |   | 1,232,643 |   |   |   | 1,200,986 |   |
|  Other non-current assets, net                           |   |   | 1,233,430 |   |   |   | 1,256,267 |   |
|                                                          |   |   |   |   |   |   |   |   |
|  Total non-current assets                                |   |   | 41,329,415 |   |   |   | 44,755,657 |   |
|                                                          |   |   |   |   |   |   |   |   |
|  Total Assets                                            |   | $ | 42,808,040 |   |   | $ | 47,232,271 |   |
|                                                          |   |
| Liabilities and Partners’ Equity                        |   |
|                                                          |   |
|  Current liabilities:                                    |   |   |   |   |   |   |   |   |
|  Current portion of non-recourse long-term debt          |   | $ | 3,852,906 |   |   | $ | 3,826,797 |   |
|  Deferred revenue                                        |   |   | 436,363 |   |   |   | 613,636 |   |
|  Due to affiliates                                       |   |   | 143,070 |   |   |   | 143,070 |   |
|  Accrued expenses and other current liabilities          |   |   | 248,547 |   |   |   | 207,164 |   |
|                                                          |   |   |   |   |   |   |   |   |
|  Total current liabilities                               |   |   | 4,680,886 |   |   |   | 4,790,667 |   |
|                                                          |   |   |   |   |   |   |   |   |
|  Non-current liabilities:                                |   |   |   |   |   |   |   |   |
|  Non-recourse long-term debt, less current portion       |   |   | 31,579,716 |   |   |   | 34,490,236 |   |
|                                                          |   |   |   |   |   |   |   |   |
|  Total Liabilities                                       |   |   | 36,260,602 |   |   |   | 39,280,903 |   |
|                                                          |   |   |   |   |   |   |   |   |
|  Commitments and contingencies (Note 10)                 |   |   |   |   |   |   |   |   |
|                                                          |   |   |   |   |   |   |   |   |
|  Partners’ Equity:                                 |   |   |   |   |   |   |   |   |
|  Limited Partners                                        |   |   | 7,131,023 |   |   |   | 8,520,914 |   |
|  General Partner                                         |   |   | (583,585 | ) |   |   | (569,546 | ) |
|                                                          |   |   |   |   |   |   |   |   |
|  Total Partners’ Equity                            |   |   | 6,547,438 |   |   |   | 7,951,368 |   |
|                                                          |   |   |   |   |   |   |   |   |
|  Total Liabilities and Partners’ Equity            |   | $ | 42,808,040 |   |   | $ | 47,232,271 |   |

----

Table of Contents

| ICON Income Fund Eight B L.P.                           |   |
|---------------------------------------------------------|--------|
| (A Delaware Limited Partnership)                        |   |
| Consolidated Statements of Operations                   |   |
| (unaudited)                                             |   |
|                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                    |   | Three Months Ended September 30, |   |   | Nine Months Ended September 30, |   |
|                                                    |   | 2010 |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
|  Revenue:                                          |   |   |   |   |   |   |   |   |   |   |   |   |
|  Rental income                                     |   | $ | 1,594,091 |   |   | $ | 1,594,091 |   |   | $ | 4,782,273 |   |   | $ | 4,782,273 |   |
|  Finance income                                    |   |   | 49,143 |   |   |   | 124,650 |   |   |   | 206,379 |   |   |   | 425,213 |   |
|  Income (loss) from investment in joint venture    |   |   | 10,002 |   |   |   | (13,726 | ) |   |   | 31,657 |   |   |   | (54,405 | ) |
|                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Total revenue                                     |   |   | 1,653,236 |   |   |   | 1,705,015 |   |   |   | 5,020,309 |   |   |   | 5,153,081 |   |
|                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Expenses:                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Depreciation and amortization                     |   |   | 940,948 |   |   |   | 961,248 |   |   |   | 2,824,561 |   |   |   | 2,886,499 |   |
|  Interest                                          |   |   | 577,673 |   |   |   | 635,479 |   |   |   | 1,723,471 |   |   |   | 1,937,533 |   |
|  General and administrative                        |   |   | 66,936 |   |   |   | 68,040 |   |   |   | 334,996 |   |   |   | 356,686 |   |
|                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Total expenses                                    |   |   | 1,585,557 |   |   |   | 1,664,767 |   |   |   | 4,883,028 |   |   |   | 5,180,718 |   |
|                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net income (loss)                                 |   | $ | 67,679 |   |   | $ | 40,248 |   |   | $ | 137,281 |   |   | $ | (27,637 | ) |
|                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net income (loss) allocable to:                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Limited Partners                                  |   | $ | 67,002 |   |   | $ | 39,845 |   |   | $ | 135,908 |   |   | $ | (27,361 | ) |
|  General Partner                                   |   |   | 677 |   |   |   | 403 |   |   |   | 1,373 |   |   |   | (276 | ) |
|                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                    |   | $ | 67,679 |   |   | $ | 40,248 |   |   | $ | 137,281 |   |   | $ | (27,637 | ) |
|                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Weighted average number of units of limited       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  partnership interests outstanding                 |   |   | 740,380 |   |   |   | 740,380 |   |   |   | 740,380 |   |   |   | 740,380 |   |
|                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net income (loss) per weighted average            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  unit of limited partnership interests outstanding |   | $ | 0.09 |   |   | $ | 0.05 |   |   | $ | 0.18 |   |   | $ | (0.04 | ) |

----

Table of Contents

| ICON Income Fund Eight B L.P.                                |   |
|--------------------------------------------------------------|--------|
| (A Delaware Limited Partnership)                             |   |
| Consolidated Statements of Changes in Partners’ Equity |   |
|                                                         |   |
|                                                         |   | Units of Limited |   |   |   |   |   |   |   |   | Total |   |
|                                                         |   | Partnership |   |   | Limited |   |   | General |   |   | Partners' |   |
|                                                         |   | Interests |   |   | Partners |   |   | Partner |   |   | Equity |   |
|  Balance, December 31, 2009                             |   |   | 740,380 |   |   | $ | 8,520,914 |   |   | $ | (569,546 | ) |   | $ | 7,951,368 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Cash distributions                                     |   |   | - |   |   |   | (499,755 | ) |   |   | (5,048 | ) |   |   | (504,803 | ) |
|  Net loss                                               |   |   | - |   |   |   | (33,385 | ) |   |   | (337 | ) |   |   | (33,722 | ) |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Balance, March 31, 2010 (unaudited)                    |   |   | 740,380 |   |   |   | 7,987,774 |   |   |   | (574,931 | ) |   |   | 7,412,843 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Cash distributions                                     |   |   | - |   |   |   | (500,375 | ) |   |   | (5,054 | ) |   |   | (505,429 | ) |
|  Net income                                             |   |   | - |   |   |   | 102,291 |   |   |   | 1,033 |   |   |   | 103,324 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Balance, June 30, 2010 (unaudited)                     |   |   | 740,380 |   |   |   | 7,589,690 |   |   |   | (578,952 | ) |   |   | 7,010,738 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Cash distributions                                     |   |   | - |   |   |   | (525,669 | ) |   |   | (5,310 | ) |   |   | (530,979 | ) |
|  Net income                                             |   |   | - |   |   |   | 67,002 |   |   |   | 677 |   |   |   | 67,679 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Balance, September 30, 2010 (unaudited)                |   |   | 740,380 |   |   | $ | 7,131,023 |   |   | $ | (583,585 | ) |   | $ | 6,547,438 |   |

----

Table of Contents

| ICON Income Fund Eight B L.P.                                                        |   |
|--------------------------------------------------------------------------------------|--------|
| (A Delaware Limited Partnership)                                                     |   |
| Consolidated Statements of Cash Flows                                                |   |
| (unaudited)                                                                          |   |
|                                                                                 |   |
|                                                                                 |   | Nine Months EndedSeptember 30, |   |
|                                                                                 |   | 2010 |   |   | 2009 |   |
|  Cash flows from operating activities:                                          |   |   |   |   |   |   |
|  Net income (loss)                                                              |   | $ | 137,281 |   |   | $ | (27,637 | ) |
|  Adjustments to reconcile net income (loss) to net cash provided by             |   |   |   |   |   |   |   |   |
|  operating activities:                                                          |   |   |   |   |   |   |   |   |
|  Rental income paid directly to lenders by lessees                              |   |   | (4,605,000 | ) |   |   | (4,905,000 | ) |
|  Finance income                                                                 |   |   | (206,379 | ) |   |   | (425,213 | ) |
|  (Income) loss from investment in joint venture                                 |   |   | (31,657 | ) |   |   | 54,405 |   |
|  Depreciation and amortization                                                  |   |   | 2,824,561 |   |   |   | 2,886,499 |   |
|  Interest expense on non-recourse financing paid directly to lenders by lessees |   |   | 1,697,933 |   |   |   | 1,885,198 |   |
|  Interest expense from amortization of debt financing costs                     |   |   | 25,538 |   |   |   | 25,392 |   |
|  Changes in operating assets and liabilities:                                   |   |   |   |   |   |   |   |   |
|  Collection of finance leases                                                   |   |   | 1,884,402 |   |   |   | 1,884,403 |   |
|  Other assets, net                                                              |   |   | (9,056 | ) |   |   | 28,915 |   |
|  Deferred revenue                                                               |   |   | (177,273 | ) |   |   | 122,727 |   |
|  Accrued expenses and other current liabilities                                 |   |   | 64,039 |   |   |   | (120,473 | ) |
|                                                                                 |   |   |   |   |   |   |   |   |
|  Net cash provided by operating activities                                      |   |   | 1,604,389 |   |   |   | 1,409,216 |   |
|                                                                                 |   |   |   |   |   |   |   |   |
|  Cash flows from financing activities:                                          |   |   |   |   |   |   |   |   |
|  Repayment of revolving line of credit                                          |   |   | - |   |   |   | (820,000 | ) |
|  Cash distributions to partners                                                 |   |   | (1,541,211 | ) |   |   | (706,725 | ) |
|                                                                                 |   |   |   |   |   |   |   |   |
|  Net cash used in financing activities                                          |   |   | (1,541,211 | ) |   |   | (1,526,725 | ) |
|                                                                                 |   |   |   |   |   |   |   |   |
|  Net increase (decrease) in cash and cash equivalents                           |   |   | 63,178 |   |   |   | (117,509 | ) |
|  Cash and cash equivalents, beginning of period                                 |   |   | 149,843 |   |   |   | 167,128 |   |
|                                                                                 |   |   |   |   |   |   |   |   |
|  Cash and cash equivalents, end of period                                       |   | $ | 213,021 |   |   | $ | 49,619 |   |
|                                                                                 |   |   |   |   |   |   |   |   |
|                                                                                 |   |   |   |   |   |   |   |   |
|  Supplemental disclosure of cash flow information:                              |   |   |   |   |   |   |   |   |
|  Cash paid during the period for interest                                       |   | $ | - |   |   | $ | 26,943 |   |
|                                                                                 |   |   |   |   |   |   |   |   |
|  Supplemental disclosure of non-cash operating activities:                      |   |   |   |   |   |   |   |   |
|  Principal and interest paid on non-recourse long-term debt directly to         |   |   |   |   |   |   |   |   |
|  lenders by lessees                                                             |   | $ | 4,605,000 |   |   | $ | 4,905,000 |   |

----

Table of Contents

ICON Income Fund Eight B L.P.

| (1) | Organization |
|-----|--------------|

| (2) | Basis of Presentation and Consolidation |
|-----|-----------------------------------------|

----

Table of Contents

| (2) | Basis of Presentation and Consolidation - continued |
|-----|-----------------------------------------------------|

----

Table of Contents

| (3) | Net Investment in Finance Lease |
|-----|---------------------------------|

|                                                                                          |   | September 30, |      |   | December 31, |   |
|-----------------------------------------------------------------------------------------------|--------|---------------|-----------|--------|--------------|--------|
|                                                                                          |   | 2010          |      |   | 2009         |   |
|                                                                                          |   |          |      |   |         |   |
|  Minimum rents receivable                                                                |   | $             | 1,256,270 |   |         | $      | 3,140,672 |   |
|  Estimated residual value                                                                |   |          | 1         |   |         |   | 1 |   |
|  Initial direct costs, net                                                               |   |          | 2,243     |   |         |   | 13,022 |   |
|  Unearned income                                                                         |   |          | (35,805   | )      |         |   | (242,184 | ) |
|                                                                                          |   |          |      |   |         |   |   |   |
| Net investment in finance lease                                                               |   |          | 1,222,709 |   |         |   | 2,911,511 |   |
|                                                                                          |   |          |      |   |         |   |   |   |
| Less:  Current portion of net                                                       |   |          |      |   |         |   |   |   |
|            investment in finance lease |   |          | 1,222,709 |   |         |   | 2,290,231 |   |
|                                                                                          |   |          |      |   |         |   |   |   |
|  Net investment in finance lease,                                                        |   |          |      |   |         |   |   |   |
|            less current portion        |   | $             | -         |   |         | $      | 621,280 |   |

| (4) | Leased Equipment at Cost |
|-----|--------------------------|

|                                          |   | September 30, |       |   | December 31, |   |
|-----------------------------------------------|--------|---------------|------------|--------|--------------|--------|
|                                          |   | 2010          |       |   | 2009         |   |
|  Aircraft and aircraft related equipment |   | $             | 75,416,720 |   |         | $      | 75,416,720 |   |
|  Less: Accumulated depreciation          |   |          | 36,553,378 |   |         |   | 33,739,596 |   |
|                                          |   |          |       |   |         |   |   |   |
|                                          |   | $             | 38,863,342 |   |         | $      | 41,677,124 |   |

| (5) | Investment in Joint Venture |
|-----|-----------------------------|

----

Table of Contents

| (5) | Investment in Joint Venture - continued |
|-----|-----------------------------------------|

|                                           |   | Three Months Ended September 30, |      |   | Nine Months Ended September 30, |   |
|------------------------------------------------|--------|----------------------------------|-----------|--------|---------------------------------|--------|
|                                           |   | 2010                             |      |   | 2009                            |   |   | 2010 |   |   | 2009 |   |
|  Revenue                                  |   | $                                | 1,592,143 |   |                            | $      | 1,592,143 |   |   | $ | 4,776,428 |   |   | $ | 4,776,433 |   |
|  Net income (loss)                        |   | $                                | 20,005    |   |                            | $      | (27,452 | ) |   | $ | 63,314 |   |   | $ | (108,810 | ) |
|  Partnership's share of net income (loss) |   | $                                | 10,002    |   |                            | $      | (13,726 | ) |   | $ | 31,657 |   |   | $ | (54,405 | ) |

| (6)     Non-Recourse Long-Term Debt |
|--------------------------------------------------------------|

| For the period October 1 to December 31, 2010 |   | $      | 942,386    |   |
|-----------------------------------------------|--------|--------|------------|--------|
| For the year ending December 31, 2011         |   |   | 34,490,236 |   |
|                                          |   | $      | 35,432,622 |   |

| (7) | Revolving Line of Credit, Recourse |
|-----|------------------------------------|

----

Table of Contents

| (7) | Revolving Line of Credit, Recourse - continued |
|-----|------------------------------------------------|

| (8) | Fair Value Measurements |
|-----|-------------------------|

|                                         |   | September 30, 2010 |       |
|----------------------------------------------|--------|--------------------|------------|
|                                         |   | Carrying Amount    |       |   | Fair Value |   |
|  Fixed rate non-recourse long-term debt |   | $                  | 35,432,622 |   |   | $ | 36,319,973 |   |

| (9) | Transactions with Related Parties |
|-----|-----------------------------------|

----

Table of Contents

| (9) | Transactions with Related Parties - continued |
|-----|-----------------------------------------------|

| (10) | Commitments and Contingencies |
|------|-------------------------------|

----

Table of Contents

Item 2.  General Partner’s Discussion and Analysis of Financial Condition and Results of Operations

----

Table of Contents

|                                                 |   | Three Months Ended September 30, |      |   |   |    |
|------------------------------------------------------|--------|----------------------------------|-----------|--------|--------|---------|
|                                                 |   | 2010                             |      |   | 2009   |    |   | Change |   |
|                                                 |   |                             |      |   |   |    |   |   |   |
|  Rental income                                  |   | $                                | 1,594,091 |   |   | $       | 1,594,091 |   |   | $  | - |   |
|  Finance income                                 |   |                             | 49,143    |   |   |    | 124,650 |   |   |   | (75,507 | ) |
|  Income (loss) from investment in joint venture |   |                             | 10,002    |   |   |    | (13,726 | ) |   |   | 23,728 |   |
|                                                 |   |                             |      |   |   |    |   |   |   |   |   |   |
|  Total revenue                                  |   | $                           | 1,653,236 |   |   | $  | 1,705,015 |   |   | $  | (51,779 | ) |

|                                |   | Three Months Ended September 30, |      |   |   |    |
|-------------------------------------|--------|----------------------------------|-----------|--------|--------|---------|
|                                |   | 2010                             |      |   | 2009   |    |   |  Change |   |
|                                |   |                             |      |   |   |    |   |   |   |
|  Depreciation and amortization |   | $                           | 940,948   |   |   | $  | 961,248 |   |   | $  | (20,300 | ) |
|  Interest                      |   |                             | 577,673   |   |   |    | 635,479 |   |   |   | (57,806 | ) |
|  General and administrative    |   |                             | 66,936    |   |   |    | 68,040 |   |   |   | (1,104 | ) |
|                                |   |                             |      |   |   |    |   |   |   |   |   |   |
|  Total expenses                |   | $                           | 1,585,557 |   |   | $  | 1,664,767 |   |   | $  | (79,210 | ) |

----

Table of Contents

|                                                 |   | Nine Months Ended September 30, |      |   |   |    |
|------------------------------------------------------|--------|---------------------------------|-----------|--------|--------|---------|
|                                                 |   | 2010                            |      |   | 2009   |    |   | Change |   |
|                                                 |   |                            |      |   |   |    |   |   |   |
|  Rental income                                  |   | $                               | 4,782,273 |   |   | $       | 4,782,273 |   |   | $  | - |   |
|  Finance income                                 |   |                            | 206,379   |   |   |    | 425,213 |   |   |   | (218,834 | ) |
|  Income (loss) from investment in joint venture |   |                            | 31,657    |   |   |    | (54,405 | ) |   |   | 86,062 |   |
|                                                 |   |                            |      |   |   |    |   |   |   |   |   |   |
|  Total revenue                                  |   | $                          | 5,020,309 |   |   | $  | 5,153,081 |   |   | $  | (132,772 | ) |

|                                |   | Nine Months Ended September 30, |      |   |   |    |
|-------------------------------------|--------|---------------------------------|-----------|--------|--------|---------|
|                                |   | 2010                            |      |   | 2009   |    |   | Change |   |
|                                |   |                            |      |   |   |    |   |   |   |
|  Depreciation and amortization |   | $                          | 2,824,561 |   |   | $  | 2,886,499 |   |   | $  | (61,938 | ) |
|  Interest                      |   |                            | 1,723,471 |   |   |    | 1,937,533 |   |   |   | (214,062 | ) |
|  General and administrative    |   |                            | 334,996   |   |   |    | 356,686 |   |   |   | (21,690 | ) |
|                                |   |                            |      |   |   |    |   |   |   |   |   |   |
|  Total expenses                |   | $                          | 4,883,028 |   |   | $  | 5,180,718 |   |   | $  | (297,690 | ) |

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Item 3.  Quantitative and Qualitative Disclosures About Market Risk

Item 4.  Controls and Procedures

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Table of Contents

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

Item 1A. Risk Factors

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Item 3. Defaults Upon Senior Securities

Item 4. (Removed and Reserved)

Item 5. Other Information

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Table of Contents

Item 6. Exhibits

| 3.1        | Amended and Restated Agreement of Limited Partnership of Registrant (Incorporated by reference to Exhibit 4.1 to Registrant’s Post-Effective Amendment No. 6 to Form S-1 Registration Statement No. 333-54011 filed with the SEC on May 19, 2000).                                                                                                                                                                                         |
|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.1        | Certificate of Limited Partnership of Registrant (Incorporated by reference to Exhibit 4.3 to Registrant’s Post-Effective Amendment No. 6 to Form S-1 Registration Statement No. 333-54011 filed with the SEC on May 19, 2000).                                                                                                                                                                                                            |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.1       | Commercial Loan Agreement, dated as of August 31, 2005, by and among California Bank & Trust and ICON Income Fund Eight B L.P., ICON Income Fund Nine, LLC, ICON Income Fund Ten, LLC and ICON Leasing Fund Eleven, LLC (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated August 31, 2005).                                                                                                  |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.2       | Loan Modification Agreement, dated as of December 26, 2006, between California Bank & Trust and ICON Income Fund Eight B L.P., ICON Income Fund Nine, LLC, ICON Income Fund Ten, LLC and ICON Leasing Fund Eleven, LLC (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated December 26, 2006).                                                                                                 |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.3  | Loan Modification Agreement, dated as of June 20, 2007, between California Bank & Trust, ICON Income Fund Eight B L.P., ICON Income Fund Nine, LLC, ICON Income Fund Ten, LLC, ICON Leasing Fund Eleven, LLC and ICON Leasing Fund Twelve, LLC (Incorporated by reference to Exhibit 10.3 to Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2009, filed November 5, 2009).               |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.4       | Third Loan Modification Agreement, dated as of May 1, 2008, between California Bank & Trust, ICON Income Fund Eight B L.P., ICON Income Fund Nine, LLC, ICON Income Fund Ten, LLC, ICON Leasing Fund Eleven, LLC and ICON Leasing Fund Twelve, LLC (Incorporated by reference to Exhibit 10.4 to Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2008, filed May 15, 2008).                   |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.5       | Fourth Loan Modification Agreement, dated as of August 12, 2009, between California Bank & Trust, ICON Income Fund Eight B L.P., ICON Income Fund Nine, LLC, ICON Income Fund Ten, LLC, ICON Leasing Fund Eleven, LLC, ICON Leasing Fund Twelve, LLC and ICON Equipment and Corporate Infrastructure Fund Fourteen, L.P. (Incorporated by reference to Exhibit 10.1 to Registrant’s Current Report on Form 8-K dated August 12, 2009). |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 31.1       | Rule 13a-14(a)/15d-14(a) Certification of Co-Chief Executive Officer.                                                                                                                                                                                                                                                                                                                                                                            |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 31.2       | Rule 13a-14(a)/15d-14(a) Certification of Co-Chief Executive Officer.                                                                                                                                                                                                                                                                                                                                                                            |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 31.3       | Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer.                                                                                                                                                                                                                                                                                                                                                                               |
|       |                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 32.1       | Certification of Co-Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                              |

|   |                                                                                                                                                |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------|
| 32.2   | Certification of Co-Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|   |                                                                                                                                                |
| 32.3   | Certification of Chief Financial Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.    |

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SIGNATURES

| By:/s/ Michael A. Reisner                                                   |
|-----------------------------------------------------------------------------|
| Michael A. Reisner                                                          |
| Co-Chief Executive Officer and Co-President(Co-Principal Executive Officer) |

| By:/s/ Mark Gatto                                                           |
|-----------------------------------------------------------------------------|
| Mark Gatto                                                                  |
| Co-Chief Executive Officer and Co-President(Co-Principal Executive Officer) |

| By: /s/ Anthony J. Branca                                           |
|---------------------------------------------------------------------|
| Anthony J. Branca                                                   |
| Chief Financial Officer(Principal Accounting and Financial Officer) |

| 19 |
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