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                                    FORM 10-Q
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

(Mark One)
[X]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

    For the quarterly period ended                     March 31, 1999

                                       OR

[ ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

    For the transition period from _____ to _____

Commission File Number    0-18528

                         INCOME GROWTH PARTNERS, LTD. X
             (Exact name of registrant as specified in its charter)

<TABLE>
<CAPTION>
         CALIFORNIA                                            33-0294177
<S>                                                         <C>
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization                               Identification No.)
</TABLE>

       11300 Sorrento Valley Road, Suite 108, San Diego, California 92121
               (Address of principal executive offices) (Zip Code)

                                 (619) 457-2750
              (Registrant's telephone number, including area code)


(Former name, former address and former fiscal year, if changed since last
report)

Indicate by check mark whether the registration (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 for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
filing requirements for the past 90 days. Yes [X] No [ ]

The number of the registrant's Original Limited Partnership Units outstanding as
of May 14, 1999 was 18,826.5. The number of the registrant's Class A Units
outstanding as of May 14, 1999 was 8,100.



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                         PART I - FINANCIAL INFORMATION


ITEM 1. FINANCIAL STATEMENTS



<PAGE>   3

INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARY
(A CALIFORNIA LIMITED PARTNERSHIP)
CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                    MARCH 31,           DECEMBER 31,
                                                                      1999                  1998
                                                                  ------------           ------------
<S>                                                               <C>                    <C>         
                                    ASSETS
Rental properties:
  Land                                                            $  7,078,365           $  7,078,365
  Buildings and improvements                                        21,802,878             21,763,241
                                                                  ------------           ------------

                                                                    28,881,243             28,841,606
  Less accumulated depreciation                                      9,663,036              9,445,320
                                                                  ------------           ------------

                                                                    19,218,207             19,396,286

Cash and cash equivalents                                              532,918                441,909
Deferred loan fees, net of accumulated amortization of
    $146,223 and $132,140, respectively                                630,960                645,044
Prepaid expenses and other assets                                       28,666                 30,742
                                                                  ------------           ------------

                                                                     1,192,544              1,117,695
                                                                  ------------           ------------

                                                                  $ 20,410,752           $ 20,513,981
                                                                  ============           ============

                   LIABILITIES AND PARTNERS' CAPITAL

Mortgage loans payable                                            $ 19,535,060           $ 19,579,523

Other liabilities:
  Loan payable to affiliate                                             72,640                 72,640
  Accounts payable and accrued liabilities                             242,938                170,177
  Accrued interest payable                                             125,699                125,699
  Security deposits                                                    202,077                199,177
                                                                  ------------           ------------

                                                                    20,178,415             20,147,216

Commitments

Partners' capital                                                      242,337                376,765
Note receivable from general partner                                   (10,000)               (10,000)
                                                                  ------------           ------------

                                                                  $ 20,410,752           $ 20,513,981
                                                                  ============           ============
</TABLE>


The accompanying notes are an integral part of the financial statements.



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<PAGE>   4

INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARY
(A CALIFORNIA LIMITED PARTNERSHIP)
CONSOLIDATED STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                                     FOR THE THREE MONTHS
                                                                       ENDED MARCH 31,
                                                             ---------------------------------
                                                                1999                  1998
                                                             -----------           -----------
<S>                                                          <C>                   <C>        
Revenues:
   Rents                                                     $ 1,033,563           $   984,642
   Other                                                          57,063                40,542
                                                             -----------           -----------

           Total revenues                                      1,090,627             1,025,184
                                                             -----------           -----------


Expenses:
   Operating expenses                                            535,123               454,052
   Depreciation                                                  231,798               222,831
   Interest                                                      379,292               392,103
                                                             -----------           -----------

           Total expenses                                      1,146,213             1,068,986
                                                             -----------           -----------

Net income (loss)                                            $   (55,586)          $   (43,802)
                                                             ===========           ===========

Basic and diluted per limited partnership unit data
   Net loss per limited partnership unit                     $      2.06           $      1.63
                                                             ===========           ===========

Weighted average limited
   partnership units outstanding                                  26,926                26,926
                                                             ===========           ===========
</TABLE>


The accompanying notes are an integral part of the financial statements.



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<PAGE>   5

INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARY
(A CALIFORNIA LIMITED PARTNERSHIP)
CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                               FOR THE THREE MONTHS
                                                                                  ENDED MARCH 31,
                                                                           -----------------------------
                                                                             1999                 1998
                                                                           ---------           ---------
<S>                                                                        <C>                 <C>       
Cash flows from operating activities:
   Net loss                                                                $ (55,586)          $ (43,802)
   Adjustments to reconcile net loss to net cash provided by
       operating activities:
         Depreciation and Amortization                                       231,798             222,831

         (Increase) in:
           Prepaid expenses and other assets                                   2,076            (128,508)
           Deferred Loan Fees                                                     --              (7,016)
         Increase in:
           Accounts payable, accrued liabilities and accrued
             interest payable                                                 72,762              73,978
           Security deposits                                                   2,900              (1,191)
                                                                           ---------           ---------

             Net cash provided by operating activities                       253,951             116,292
                                                                           ---------           ---------

Cash flows from investing activities:
   Capital expenditures                                                      (39,637)            (53,462)
                                                                           ---------           ---------

             Net cash used in investing activities                           (39,637)            (53,462)
                                                                           ---------           ---------

Cash flows from financing activities:
   Principal payments under mortgage debt                                    (44,463)            (47,144)
   Principal payments to affiliate                                                --              (3,292)
   Collection on loan receivable from general partner                             --                  --
   Distributions to Investors                                                (78,842)           (100,000)
                                                                           ---------           ---------

             Net cash used by financing activities                          (123,305)           (150,436)
                                                                           ---------           ---------

             Net increase (decrease) in cash and cash equivalents             91,009             (87,606)
                                                                           ---------           ---------

Cash and cash equivalents at beginning of period                             441,909             282,293
                                                                           ---------           ---------

             Cash and cash equivalents at end of period                    $ 532,918           $ 194,687
                                                                           =========           =========
</TABLE>


The accompanying notes are an integral part of the financial statements.



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INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARY
(A CALIFORNIA LIMITED PARTNERSHIP)


1.      BASIS OF FINANCIAL STATEMENT PRESENTATION:

        The accompanying unaudited consolidated financial statements of Income
        Growth Partners, Ltd. X, a California limited partnership, and
        subsidiary (the "Partnership") have been prepared pursuant to the rules
        and regulations of the Securities and Exchange Commission. Certain
        information and note disclosures normally included in annual financial
        statements prepared in accordance with generally accepted accounting
        principles have been condensed or omitted pursuant to those rules and
        regulations, although the Partnership believes that the disclosures made
        are adequate to make the information presented not misleading. These
        consolidated financial statements should be read in conjunction with the
        financial statements and the notes thereto included in the Partnership's
        latest audited financial statements for the year ended December 31, 1998
        filed on Form 10K.

        The accompanying consolidated financial statements have not been audited
        by independent public accountants, but include all adjustments
        (consisting of normal recurring adjustments) which are, in the opinion
        of the general partners, necessary for a fair presentation of the
        financial condition, results of operations and cash flows for the
        periods presented. However, these results are not necessarily indicative
        of results for a full year.

        Certain prior period amounts have been reclassified to conform with the
        current period presentation.


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INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARY
(A CALIFORNIA LIMITED PARTNERSHIP)


ITEM    2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
        RESULTS OF OPERATIONS:

        The following Management's Discussion and Analysis of Financial
        Condition and Results of Operations should be read in conjunction with
        the financial statements and notes thereto filed herewith.

        a.      Liquidity and Capital Resources:

                Since inception, the Partnership's operating and debt service
                obligations have been financed through the sale of Partnership
                Units, cash provided by operating activities, and 1995 debt
                restructuring activities. During the three months ended March
                31, 1999, all of the Partnership's operating and debt service
                cash requirements have been met through cash generated from
                operations.

                The Mission Park mortgage was refinanced in December 1995 at a
                fixed interest rate of 7.76%. The Shadowridge Meadows mortgage
                was refinanced in October 1997 at a fixed interest rate of
                7.49%.

                Despite the refinancings, mortgage indebtedness on the
                properties remains high, which may make it difficult for the
                properties to service their debt through Partnership operations.
                In the event that one or more of the properties is unable to
                support its debt service and the Partnership is unable to cover
                operational shortfalls from cash reserves, the Partnership may
                have to take one or more alternative courses of action. The
                general partners would then determine, based on their analysis
                of relevant economic conditions and the status of the
                properties, a course of action intended to be consistent with
                the best interests of the Partnership. Possible courses of
                action might include the sacrifice, sale or refinancing of one
                or more of the properties, the entry into one or more joint
                venture partnerships with other entities, or the filing of
                another bankruptcy petition.

                Net cash provided by operating activities for the three months
                ended March 31, 1999 was approximately $253,951 compared to
                approximately $116,292 for the same period in 1998. The reason
                for this increase was primarily attributable to a decrease in
                prepaid property taxes of $67,000.

                There was no material change in net cash used in investing
                activities for the three months ended March 31, 1999 when
                compared to the same period in 1998.

                Net cash used in investing activities for the three months ended
                March 31, 1999 was approximately $123,305 compared to
                approximately $150,436 for the same period in 1998. The
                principal reason for this decrease is a decrease in
                distributions to investors.

        b.      Results of Operations:

                COMPARISON OF THREE MONTHS ENDED MARCH 31, 1999 TO THE THREE
                MONTHS ENDED MARCH 31, 1998.

                Rental revenue for the three months ended March 31, 1999 was
                approximately $1,033,563, an increase of 5% over rents of
                approximately $984,642 for the comparable period in 1998. The
                increase is primarily attributable to an increase in monthly
                tenant rental rates and steady average occupancy rates.

                Operating expenses for the three months ended March 31, 1999
                were approximately $535,123, an increase of 18% over operating
                expenses of approximately $454,052 for the comparable period in
                1998.

        c.      Year 2000

                The Partnership has completed its awareness phase of Year 2000
                Compliance and has begun its assessment. All of the
                Partnership's current software applications and computer
                hardware is undergoing assessment. So far, the



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INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARY
(A CALIFORNIA LIMITED PARTNERSHIP)


                Partnership's computer software for the Operating System,
                Investor Relations, Accounting and Property Management are in
                Year 2000 compliance. The on-site hardware assessment of the
                Partnership's computer hardware at the Partnership' two
                properties will be completed by late April 1999. The computer
                software for the Partnership's two properties is under
                assessment and is to be completed by late April 1999.

                After the Partnership's assessment is completed in late April
                1999, the renovation phase will begin. It is anticipated it will
                be completed by the end of the 2nd Quarter of 1999 with system
                validation and implementation to follow during the 3rd Quarter.

                The cost of addressing the Partnership's Year 2000 issues have
                been estimated at $30,000. The cost of the renovation and
                implementation will consist of an acceleration of scheduled
                upgrade of computer hardware for the Partnership properties and
                the corresponding upgrade of the computer operating system.

                The Partnership's contingency plans for the Year 2000 problems
                are still under assessment and should be completed by the end of
                the 2nd Quarter of 1999.



PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS:

        There are no pending legal proceedings which may have a material adverse
        effect on the Partnership. However, the Partnership is involved in small
        claims court proceedings against certain present or former tenants of
        its apartment complexes with regard to landlord-tenant matters, all of
        which are considered to be in the ordinary course of its business.

ITEM 2. CHANGES IN SECURITIES:

        None


ITEM 3. DEFAULTS UPON SENIOR SECURITIES:

        None


ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS:

        None



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INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARY
(A CALIFORNIA LIMITED PARTNERSHIP)


ITEM 5. OTHER INFORMATION:

        None


ITEM 6. EXHIBITS AND REPORTS  ON FORM 8-K:

        None



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INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARY
(A CALIFORNIA LIMITED PARTNERSHIP)



                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

Date: March 14, 1999


                                            INCOME GROWTH PARTNERS, LTD. X,
                                            a California Limited Partnership

                                            By: Income Growth Management, Inc.
                                                General Partner


                                                By: /s/ Timothy C. Maurer
                                                   -----------------------------
                                                   Timothy C. Maurer
                                                   Principal Financial Officer 
                                                   AND Duly Authorized Officer
                                                   of the Registrant



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