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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 September 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


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Income Growth Partners, Ltd. X and Subsidiary
(A California Limited Partnership)
Consolidated Balance Sheets

<TABLE>
<CAPTION>
                                                                     September 30,      December 31,
                                                                         1999               1998
                                                                     ------------       ------------
                                                                     (unaudited)
<S>                                                                  <C>                <C>
                                            ASSETS
Rental properties:
    Land                                                             $  7,078,365       $  7,078,365
    Buildings and improvements                                         21,866,772         21,763,241
                                                                     ------------       ------------

                                                                       28,945,137         28,841,606
    Less accumulated depreciation                                      10,102,741          9,445,320
                                                                     ------------       ------------

                                                                       18,842,396         19,396,286

Cash and cash equivalents                                                 582,341            441,909
Deferred loan fees, net of accumulated amortization of
      $174,388 and $132,140, respectively                                 602,795            645,044
Prepaid expenses and other assets                                          14,753             30,742
                                                                     ------------       ------------

                                                                        1,199,889          1,117,695
                                                                     ------------       ------------

                                                                     $ 20,042,285       $ 20,513,981
                                                                     ============       ============

                              LIABILITIES AND PARTNERS' CAPITAL

Mortgage loans payable                                               $ 19,448,813       $ 19,579,523

Other liabilities:
    Loan payable to affiliate                                              60,740             72,640
    Accounts payable and accrued liabilities                              130,373            170,177
    Accrued interest payable                                              125,699            125,699
    Security deposits                                                     217,123            199,177
                                                                     ------------       ------------

                                                                       19,982,748         20,147,216

Commitments

Partners' capital                                                          69,537            376,765
Note receivable from general partner                                      (10,000)           (10,000)
                                                                     ------------       ------------

                                                                     $ 20,042,285       $ 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 Nine Months
                                                 Ended September 30,          Ended September 30,
                                             --------------------------    --------------------------
                                                1999            1998          1999          1998
                                             -----------    -----------    -----------    -----------
<S>                                          <C>            <C>            <C>            <C>
Revenues:
    Rents                                    $ 1,081,445    $   973,736    $ 3,182,432    $ 2,939,359
    Other                                         52,651         69,053        152,997        148,449
                                             -----------    -----------    -----------    -----------

             Total revenues                    1,134,096      1,042,789      3,335,429      3,087,808
                                             -----------    -----------    -----------    -----------


Expenses:
    Operating expenses                           476,270        415,188      1,486,322      1,359,974
    Depreciation                                 234,551        227,310        699,668        673,687
    Interest                                     377,478        378,863      1,126,649      1,114,762
                                             -----------    -----------    -----------    -----------

             Total expenses                    1,088,299      1,021,361      3,312,639      3,148,423
                                             -----------    -----------    -----------    -----------

Net income (loss)                            $    45,797    $    21,428    $    22,790    $   (60,615)
                                             ===========    ===========    ===========    ===========

Basic and diluted per limited
    partnership unit data
    Net income (loss) per limited
      partnership unit                       $      1.70    $       .80    $       .85    $     (2.25)
                                             ===========    ===========    ===========    ===========

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 Nine Months
                                                                            Ended September 30,
                                                                         -------------------------
                                                                           1999            1998
                                                                         ---------       ---------
<S>                                                                      <C>             <C>
Cash flows from operating activities:
    Net income (loss)                                                    $  22,790       $ (60,615)
    Adjustments to reconcile net loss to net cash provided by
        operating activities:
           Depreciation and amortization                                   699,668         647,413
           (Increase) in:
             Prepaid expenses and other assets                              15,989        (109,350)
             Deferred loan fees                                                 --          26,274
           Increase in:
             Accounts payable, accrued liabilities and accrued
               interest payable                                            (39,803)         23,949
             Security deposits                                              17,946           1,655
                                                                         ---------       ---------

               Net cash provided by operating activities                   716,590         529,326
                                                                         ---------       ---------

Cash flows from investing activities:
    Capital expenditures                                                  (103,531)       (124,028)
                                                                         ---------       ---------

               Net cash used in investing activities                      (103,531)       (124,028)
                                                                         ---------       ---------

Cash flows from financing activities:
    Principal payments under mortgage debt                                (109,627)       (136,057)
    Loan fees and refinancing costs                                             --          (7,016)
    Principal payments to affiliate                                        (11,900)        (22,550)
    Distributions to investors                                            (351,100)       (235,000)
                                                                         ---------       ---------

               Net cash used by financing activities                      (472,627)       (400,623)
                                                                         ---------       ---------

               Net increase (decrease) in cash and cash equivalents        140,432           4,675
                                                                         ---------       ---------

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

               Cash and cash equivalents at end of period                $ 582,341       $ 286,968
                                                                         =========       =========

</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 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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<PAGE>   7

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 nine months
                   ended September 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 nine months
                   ended September 30, 1999 was approximately $716,590 compared
                   to approximately $529,326 for the same period in 1998. The
                   principal reason for this increase was an increase in income.

                   Net cash used in financing activities for the nine months
                   ended September 30, 1999 was approximately $472,627
                   compared to approximately $400,623 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 September 30, 1999 to the
                   three months ended September 30, 1998.

                   Rental revenue for the three months ended September 30, 1999
                   was approximately $1,081,445, an increase of 11% over rents
                   of approximately $973,736 for the comparable period in 1998.
                   The increase is primarily attributable to an increase in
                   monthly tenant rental rates.

                   Operating expenses for the three months ended September 30,
                   1999 were approximately $476,270, an increase of 15% over
                   operating expenses of approximately $415,188 for the
                   comparable period in 1998. The increase is primarily
                   attributable to an increase in administration expenses.

                   Comparison of nine months ended September 30, 1999 to the
                   nine months ended September 30, 1998.

                   Rental revenue for the nine months ended September 30, 1999
                   was approximately $3,182,432, an increase of 8% over rents of
                   approximately $2,939,359 for the comparable period in 1998.
                   The increase is primarily attributable to an increase in
                   monthly tenant rental rates.

                   Operating expenses for the nine months ended September 30,
                   1999 were approximately $1,486,322, an increase of 9% over
                   operating expenses of approximately $1,359,974 for the
                   comparable period in 1998. The increase is primarily
                   attributable to increases in administration expenses, wages,
                   cleaning and supplies for rental turnovers, landscaping and
                   pool maintenance costs.

             c.    Year 2000

                   The Partnership has completed both the awareness phase and
                   the assessment phase of Year 2000 Compliance. 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 cost of addressing the Partnership's Year 2000 issues
                   should not have a material impact on the Partnership. The
                   Partnership's contingency plans for the Year 2000 problems
                   are finalized and should be implemented by the end of
                   November, 1999.


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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:

             Exhibit 27.1 - Financial Data Schedule



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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: November 15, 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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