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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 June 30, 2000

                                       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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INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARY
(A California Limited Partnership)
CONSOLIDATED BALANCE SHEETS

                       PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

<TABLE>
<CAPTION>
                                                                June 30          December 31,
                                                                  2000              1999
                                                              ------------       ------------
                                                               unaudited
                             ASSETS
<S>                                                           <C>                <C>
Rental properties
   Land                                                       $  7,078,365       $  7,078,365
   Buildings and improvements                                   21,992,876         21,907,461
                                                              ------------       ------------
                                                                29,071,241         28,985,826
   Less accumulated depreciation                               (10,751,842)       (10,316,949)
                                                              ------------       ------------
                                                                18,319,399         18,668,877

Cash and cash equivalents                                          382,653            434,712
Deferred loan fees, net of accumulated amortization
   of $214,206 and $188,166, respectively                          562,977            589,017
Prepaids and other assets                                          377,321            125,864
                                                              ------------       ------------
                                                              $ 19,642,350       $ 19,818,470
                                                              ============       ============

                   LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)

Mortgage loans payable                                        $ 19,314,237       $ 19,382,900


Other liabilities
   Loan payable to affiliates                                       18,703             48,540
   Accounts payable and accrued liabilities                        173,887            172,559
   Accrued interest payable                                        125,699            120,684
   Security deposits                                               231,432            217,757
                                                              ------------       ------------
                                                                19,863,958         19,942,440
Commitments and contingencies

Partners' capital (deficit)                                       (206,008)          (113,970)
Note receivable from general partner                               (15,600)           (10,000)
                                                              ------------       ------------
                                                              $ 19,642,350       $ 19,818,470
                                                              ============       ============
</TABLE>

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


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<PAGE>   3
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,
                                                     -----------------------------              -------------------------------
                                                         2000               1999                    2000                1999
                                                     -----------        ----------              ------------        -----------
<S>                                                  <C>                <C>                     <C>                 <C>
REVENUES
   Rents                                             $ 1,134,018        $ 1,067,424              $ 2,271,608         $ 2,100,987
   Other                                                  51,447             43,282                  102,343             100,346
                                                      -----------         ----------              -----------        -----------

         Total revenues                                1,185,465          1,110,706                2,373,951           2,201,333
                                                      ----------        ------------              -----------        -----------
EXPENSES
   Operating expenses                                    435,095            474,929                  933,589           1,010,052
   Depreciation and amortization                         230,253            233,319                  460,933             465,117
   Interest                                              354,853            369,879                  745,878             749,171
                                                      -----------         ----------             ------------        -----------

Total expenses                                         1,020,201          1,078,127                2,607,502           2,224,340
                                                      -----------        -----------             ------------        -----------

Net income (loss)                                    $   165,264        $    32,579              $   233,551          $  (23,007)
                                                      ===========         ==========             ============         ===========

BASIC AND DILUTED PER LIMITED PARTNERSHIP UNIT DATA
   Net income (loss) per limited partnership unit    $      6.14        $      1.21              $      8.67          $    (0.85)
                                                      ===========        ===========              ===========         ===========

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


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


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<PAGE>   4
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,
                                                                       -------------------------
                                                                         2000             1999
                                                                       ---------       ---------
<S>                                                                    <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES
   Net income (loss)                                                   $ 233,551       $ (23,007)
   Adjustments to reconcile net loss to net cash provided by
     operating activities
       Depreciation and amortization                                     460,933         465,117
               (Increase) in
         Prepaid expenses and other assets                              (251,457)          9,080
               (Decrease) in
         Accounts payable, accrued liabilities and accrued
           interest payable                                                6,343         (54,173)
         Security deposits                                                13,675          14,830
                                                                       ---------       ---------
             Net cash provided by operating activities                   463,045         411,837
                                                                       ---------       ---------
CASH FLOWS FROM INVESTING ACTIVITIES
   Capital expenditures                                                  (85,415)        (66,094)
                                                                       ---------       ---------
             Net cash used in investing activities                       (85,415)        (66,094)
                                                                       ---------       ---------
CASH FLOWS FROM FINANCING ACTIVITIES
   Principal payments under mortgage debt                                (68,663)        (96,488)
   Principal payments to affiliate                                       (24,237)        (11,900)
   Distributions to Investors                                           (336,803)       (200,417)
                                                                       ---------       ---------
             Net cash used by financing activities                      (429,703)       (308,805)
                                                                       ---------       ---------
             Net increase (decrease) in cash and cash equivalents        (52,059)         36,938
                                                                       ---------       ---------
Cash and cash equivalents at beginning of period                         434,712         441,909
                                                                       ---------       ---------
             Cash and cash equivalents at end of period                $ 382,653       $ 478,847
                                                                       =========       =========
</TABLE>


The accompanying notes are an integral part of these 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, 1999
        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 six months ended June 30, 2000, 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, 2000 was approximately $463,000 compared to approximately
           $412,000 for the same period in 1999. The principal reason for this
           increase can be attributed to an increase in net income for the
           period.

           Net cash used in investing activities for the six months ended June
           30, 2000 was approximately $85,000 compared to approximately $66,000
           for the same period in 1999. The principal reason for this increase
           was an increase in capital expenditures.

           Net cash used in financing activities for the six months ended June
           30, 2000 was approximately $430,000 compared to approximately
           $309,000 for the same period in 1999. The principal reason for this
           increase was an increase in distributions to investors.



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<PAGE>   7
INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARY
(A California Limited Partnership)


        b. Results of Operations:

           COMPARISON OF THREE MONTHS ENDED JUNE 30, 2000 TO THE THREE MONTHS
           ENDED JUNE 30, 1999.


           Rental revenue for the three months ended June 30, 2000 was
           approximately $1,134,000, an increase of 6.28% over rents of
           approximately $1,067,000 for the comparable period in 1999. 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 June 30, 2000 were
           approximately $435,000, a decrease of 8.42% over operating expenses
           of approximately $475,000 for the comparable period in 1999. The
           decrease is primarily attributable to a decrease in administration
           expenses.

           COMPARISON OF SIX MONTHS ENDED JUNE 30, 2000 TO THE SIX MONTHS ENDED
           JUNE 30, 1999.


           Rental revenue for the six months ended June 30, 2000 was
           approximately $2,272,000, an increase of 8.14% over rents of
           approximately $2,101,000 for the comparable period in 1999. The
           increase is primarily attributable to an increase in monthly tenant
           rental rates and steady average occupancy rates.

           Operating expenses for the six months ended June 30, 2000 were
           approximately $934,000, a decrease of 7.52% over operating expenses
           of approximately $1,010,000 for the comparable period in 1999. The
           decrease is primarily attributable to a decrease in administration
           expenses.



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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:

           EX-27.1



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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:  August 15, 2000


                                            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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