<PAGE>   1
                                   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         June 30, 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)

         CALIFORNIA                                          33-0294177
(State or other jurisdiction of                           (I.R.S. Employer
incorporation or organization                            Identification No.)

       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>
                                                                   JUNE 30,             DECEMBER 31,
                                                                     1999                   1998
                                                                  unaudited
                                                                 ------------           ------------
<S>                                                              <C>                    <C>

                                    ASSETS

Rental properties:
   Land                                                          $  7,078,365           $  7,078,365
   Buildings and improvements                                      21,829,335             21,763,241
                                                                 ------------           ------------

                                                                   28,907,700             28,841,606
   Less accumulated depreciation                                    9,883,122              9,445,320
                                                                 ------------           ------------

                                                                   19,024,578             19,396,286

Cash and cash equivalents                                             478,847                441,909
Deferred loan fees, net of accumulated amortization of
     $159,456 and $146,223, respectively                              617,727                645,044
Prepaid expenses and other assets                                      21,662                 30,742
                                                                 ------------           ------------

                                                                    1,118,236              1,117,695
                                                                 ------------           ------------

                                                                 $ 20,142,814           $ 20,513,981
                                                                 ============           ============

                      LIABILITIES AND PARTNERS' CAPITAL

Mortgage loans payable                                           $ 19,483,035           $ 19,579,523

Other liabilities:
   Loan payable to affiliate                                           60,740                 72,640
   Accounts payable and accrued liabilities                           116,003                170,177
   Accrued interest payable                                           125,699                125,699
   Security deposits                                                  213,997                199,177
                                                                 ------------           ------------

                                                                   19,999,474             20,147,216

Commitments

Partners' capital                                                     153,340                376,765
Note receivable from general partner                                  (10,000)               (10,000)
                                                                 ------------           ------------

                                                                 $ 20,142,814           $ 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 UNAUDITED


<TABLE>
<CAPTION>
                                                                FOR THE THREE MONTHS           FOR THE SIX MONTHS
                                                                    ENDED JUNE 30,                ENDED JUNE 30,
                                                             --------------------------    --------------------------
                                                                1999           1998           1999           1998
                                                             -----------    -----------    -----------    -----------
<S>                                                          <C>            <C>            <C>            <C>

Revenues:
    Rents                                                    $ 1,067,424    $   980,981    $ 2,100,987    $ 1,965,623
    Other                                                         43,282         38,854        100,346         79,396
                                                             -----------    -----------    -----------    -----------

               Total revenues                                  1,110,706      1,019,835      2,201,333      2,045,019
                                                             -----------    -----------    -----------    -----------


Expenses:
    Operating expenses                                           474,929        490,734      1,010,052        944,786
    Depreciation and amortization                                233,319        223,546        465,117        446,377
    Interest                                                     369,879        343,796        749,171        735,899
                                                             -----------    -----------    -----------    -----------

               Total expenses                                  1,078,127      1,058,076      2,224,340      2,127,062
                                                             -----------    -----------    -----------    -----------

Net income (loss)                                            $    32,579    $   (38,241)   $   (23,007)   $   (82,043)
                                                             ===========    ===========    ===========    ===========

Basic and diluted per limited partnership unit data
    Net income/(loss) per limited partnership unit           $      1.21    $     (1.42)   $      (.85)   $     (3.05)
                                                             ===========    ===========    ===========    ===========

Weighted average limited
    partnership units outstanding                                 26,926         26,926         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 -- UNAUDITED


<TABLE>
<CAPTION>
                                                                                      FOR THE SIX MONTHS
                                                                                        ENDED JUNE 30,
                                                                                -----------------------------
                                                                                  1999                1998
                                                                                ---------           ---------
<S>                                                                             <C>                 <C>

Cash flows from operating activities:
    Net loss                                                                    $ (23,007)          $ (82,043)
    Adjustments to reconcile net loss to net cash provided by
          operating activities:
            Depreciation and amortization                                         465,117             446,379
            (Increase) in:
               Prepaid expenses and other assets                                    9,080             (92,912)
               Deferred loan fees                                                       -              (7,016)
            Increase in:
               Accounts payable, accrued liabilities and accrued
                  interest payable                                                (54,173)             29,752
               Security deposits                                                   14,820               2,173
                                                                                ---------           ---------

                  Net cash provided by operating activities                       411,837             296,333
                                                                                ---------           ---------

Cash flows from investing activities:
    Capital expenditures                                                          (66,094)            (93,229)
                                                                                ---------           ---------

                  Net cash used in investing activities                           (66,094)            (93,229)
                                                                                ---------           ---------

Cash flows from financing activities:
    Principal payments under mortgage debt                                        (96,488)            (91,166)
    Principal payments to affiliate                                               (11,900)             (9,800)
    Distributions to investors                                                   (200,417)           (160,000)
                                                                                ---------           ---------

                  Net cash used by financing activities                          (308,805)           (260,966)
                                                                                ---------           ---------

                  Net increase (decrease) in cash and cash equivalents             36,938             (57,862)
                                                                                ---------           ---------

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

                  Cash and cash equivalents at end of period                    $ 478,847           $ 224,431
                                                                                =========           =========
</TABLE>


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


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<PAGE>   6
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 10-K.

      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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<PAGE>   7
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 six months ended June 30,
                  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%.

                  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 six months
                  ended June 30, 1999 was approximately $412,000 compared to
                  approximately $296,000 for the same period in 1998. The
                  principal reason for this increase was a decrease in funds
                  spent on prepaid expenses.

                  There was no material change in net cash used in investing
                  activities for the six months ended June 30, 1999 when
                  compared to the same period in 1998.

                  Net cash used in financing activities for the six months ended
                  June 30, 1999 was approximately $309,000 compared to
                  approximately $261,000 for the same period in 1998. The
                  principal reason for this increase was an increase in
                  distributions to investors.


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<PAGE>   8
INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARY
(A CALIFORNIA LIMITED PARTNERSHIP)


            b.    Results of Operations:

                  COMPARISON OF THREE MONTHS ENDED JUNE 30, 1999 TO THE THREE
                  MONTHS ENDED JUNE 30, 1998.

                  Rental revenue for the three months ended June 30, 1999 was
                  approximately $1,067,000, an increase of 9% over rents of
                  approximately $981,000 for the comparable period in 1998. The
                  increase is primarily attributable to an increase in monthly
                  tenant rental rates and a decrease in employee lodging.

                  Operating expenses for the three months ended June 30, 1999
                  were approximately $475,000, a decrease of 3% over operating
                  expenses of approximately $491,000 for the comparable period
                  in 1998. The decrease is primarily attributable to a decrease
                  in partnership expenses.

                  COMPARISON OF SIX MONTHS ENDED JUNE 30, 1999 TO THE SIX MONTHS
                  ENDED JUNE 30, 1998.

                  Rental revenue for the six months ended June 30, 1999 was
                  approximately $2,101,000, an increase of 7% over rents of
                  approximately $1,966,000 for the comparable period in 1998.
                  The increase is primarily attributable to an increase in
                  monthly tenant rental rates and a decrease in employee
                  lodging.

                  Operating expenses for the six months ended June 30, 1999 were
                  approximately $1,010,000, an increase of 7% over operating
                  expenses of approximately $945,000 for the comparable period
                  in 1998. The increase is primarily attributable to increases
                  in advertising, credit check fees, liability insurance,
                  cleaning and supplies for rental turnovers, extensive mold
                  treatment, and gas and electric charges.

            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 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's two
                  properties was completed by late April 1999.

                  The renovation phase was postponed because of falling system
                  prices and reconfiguration of the on-site hardware. The
                  renovation is anticipated to begin early September, 1999, with
                  system validation and implementation to follow in October,
                  1999.

                  The cost of addressing the Partnership's Year 2000 issues
                  should not have a material impact on the Partnership. The cost
                  of the Partnership assessment is minimal and renovation and
                  implementation will consist of an acceleration of scheduled
                  upgrade of computer hardware for the Partnership's 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 3rd Quarter of 1999.


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<PAGE>   9

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


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


ITEM 5. OTHER INFORMATION:

            None


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

            Exhibit 27.1 - Financial Data Schedule


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<PAGE>   10

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:  August 10, 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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