BLACKROCK INCOME TRUST, INC.

N-Q 1 c36098_nq.htm

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:__ 811-05542 ______

_ BlackRock Income Trust, Inc. _ (Exact name of registrant as specified in charter)

100 Bellevue Parkway, Wilmington, DE	19809
(Address of principal executive offices)	(Zip code)

Robert S. Kapito, President

BlackRock Income Trust, Inc.

_ 40 East 52nd Street, New York, NY 10022 _ (Name and address of agent for service)

Registrant's telephone number, including area code:_ 888-825-2257 ______

Date of fiscal year end: October 31, 2005

Date of reporting period:__ January 31, 2005 _________

Item 1. Schedule of Investments.

The registrants unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:

PORTFOLIO OF INVESTMENTS (unaudited)

January 31, 2005

BlackRock Income Trust, Inc. (BKT)

	Principal
	Amount
Rating 1	(000)		Description	Value
			LONG-TERM INVESTMENTS147.5%
			Mortgage Pass-Through Securities33.0%
			Federal Home Loan Mortgage Corp.,
	$ 1,278		4.165%, 1/01/35	$ 1,291,284
	85		4.315%, 2/01/25	86,507
	1,294		4.993%, 10/01/34	1,304,251
	14,504		5.50%, 10/01/16 - 5/01/17	14,969,293
	53		5.548%, 11/01/30	54,283
	33		5.885%, 11/01/17	33,879
	87		6.50%, 5/01/29 - 5/01/30	91,062
	23		7.50%, 2/01/23	25,427
	119		8.00%, 11/01/15	124,894
	75		8.50%, 10/01/06 - 3/01/08	77,772
	250		9.00%, 9/01/20	277,560
			Federal National Mortgage Assoc.,
	24,434		5.00%, 6/01/33 - 7/01/34	24,426,752
	65,335	2	5.50%, 12/01/13 - 12/01/99	67,145,227
	10,517		6.00%, 11/01/31 - 10/01/32	10,875,547
	5,279		6.50%, 2/01/26 - 5/01/31	5,534,661
	8,807		7.00%, 6/01/26 - 2/01/32	9,325,341
	5,184		7.50%, 11/01/14 - 9/01/23	5,492,615
	483		8.00%, 5/01/08 - 5/01/22	507,729
	12		9.50%, 1/01/19 - 9/01/19	13,765
			Government National Mortgage Assoc.,
	145		7.00%, 10/15/17	154,768
	776		7.50%, 8/15/21 - 12/15/23	838,238
	555		8.00%, 10/15/22 - 2/15/29	603,849
	50		9.00%, 6/15/18 - 9/15/21	56,475
			Total Mortgage Pass-Through Securities	143,311,179
			Federal Housing Administration3.2%
	675		General Motors Acceptance Corp. Colonial
Project, 7.40%, 12/01/22	705,897
			General Motors Acceptance Corp. Projects,
	3,088		Ser. 51, 7.43%, 2/01/23	3,232,215
	1,060		Ser. 56, 7.43%, 11/01/22	1,109,917
	54		Merrill Projects,
			Ser. 54, 7.43%, 5/15/23	56,668
	864		Reilly Project,
			Ser. 41, 8.28%, 3/01/20	898,679
			USGI Projects,
	187		Ser. 87, 7.43%, 12/01/22	196,127
	1,240		Ser. 99, 7.43%, 10/01/23	1,299,485
	6,001		Ser. 6094, 7.43%, 6/01/21	6,282,406
			Total Federal Housing Administration	13,781,394
			Agency Multiple Class Mortgage
Pass-Through Securities20.1%
			Federal Home Loan Mortgage Corp.,
	6,564		Ser. 11, Class A9, 1/25/28	5,481,004
	3,000		Ser. 1598, Class J, 10/15/08	3,165,480
	456		Ser. 2534, Class NG, 3/15/22	455,480
	10,200		Ser. 2542, Class UC, 12/15/22	10,627,992
	12,651	2	Ser. 2758, Class KV, 5/15/23	13,016,083
	2,142		Ser. 2765, Class UA, 3/15/11	2,070,081

BlackRock Income Trust, Inc. (BKT) (continued)

	Principal
	Amount
Rating 1	(000)		Description	Value
			Agency Multiple Class Mortgage
Pass-Through Securities(continued)
			Federal National Mortgage Assoc.,
	$ 9,245	2	Ser. 28, Class PB, 8/25/28	$ 9,506,720
	3,264		Ser. 29, Class HC, 7/25/30	3,518,155
	1,939		Ser. 31, Class ZG, 5/25/34	2,236,718
	8,981		Ser. 32, Class VT, 9/25/15	9,322,275
	381		Ser. 43, Class E, 4/25/22	395,626
	1,723		Ser. 60, Class PA, 4/25/34	1,764,368
	12,264	2	Ser. 135, Class PB, 1/25/34	12,955,199
			Government National Mortgage Assoc.,
	2,025		Ser. 5, Class Z, 5/16/26	2,122,795
	2,500		Ser. 33, Class PB, 7/20/31	2,608,454
	5,161		Ser. 39, Class ID, 5/20/33	626,385
	3,933		Ser. 58, Class IT, 7/20/33	594,634
	15,071		Ser. 75, Class IJ, 7/20/25	1,046,833
	5,496		Ser. 89, Class PE, 10/20/34	5,825,513
			Total Agency Multiple Class Mortgage
Pass-Through Securities	87,339,795
			Non-Agency Multiple Class Mortgage
Pass-Through Securities3.4%
	13,336	2	Residential Funding Securities Corp.,
Ser. RM2, Class AI5, 8.50%, 5/25/33	14,786,076
	128	3	Summit Mortgage Trust, Ser. 1, Class
B1, 6.016%, 12/28/12	128,324
			Total Non-Agency Multiple Class Mortgage
Pass-Through Securities	14,914,400
			Adjustable Rate Mortgage Securities0.0%
			Federal National Mortgage Assoc.,
	158		Ser. 38, Class F, 8.325%, 4/25/21	171,894
	28		Ser. 256, Class F, 4.031%, 11/25/23	24,276
			Total Adjustable Rate Mortgage Securities	196,170
			Inverse Floating Rate Mortgage
Securities2.6%
			Federal Home Loan Mortgage Corp.,
	62		Ser. 1160, Class F, 29.538%, 10/15/21	62,776
	672	2	Ser. 1616, Class SB, 8.50%, 11/15/08	682,524
	2,224		Ser. 1688, Class S, 10.183%, 12/15/13	2,319,945
	1,033		Ser. 2752, Class SV, 12.835%, 9/15/33	1,036,093
			Federal National Mortgage Assoc.,
	160		Ser. 38, Class SA, 10.186%, 4/25/21	168,665
	35		Ser. 46, Class S, 19.393%, 5/25/21	9,036
	41		Ser. 49, Class S, 7.716%, 12/25/21	3,789
	1,074		Ser. 72, Class S, 8.75%, 5/25/08	1,094,776
	213		Ser. 87, Class S, 19.975%, 8/25/21	248,190
	490		Ser. 93, Class S, 8.50%, 5/25/08	499,187
	31		Ser. 145, Class S, 27.191%, 10/25/06	33,505
	239		Ser. 170, Class SC, 9.00%, 9/25/08	244,063
	1,902		Ser. 196, Class SC, 8.706%, 10/25/08	1,965,311
	680		Ser. 214, Class SH, 11.76%, 12/25/08	695,716
	1,781		Ser. 247, Class SN, 10.00%, 12/25/23	1,801,253
	301		Kidder Peabody Acceptance Corp.,
Ser. 1, Class A6, 11.923%, 8/25/23	303,707
			Total Inverse Floating Rate Mortgage
Securities	11,168,536
			Interest Only Asset-Backed Securities1.6%
			Sterling Coofs Trust,
	50,786		Ser. 1, 4/15/29	4,443,757
	33,705		Ser. 2, 3/30/30	2,685,867
			Total Interest Only Asset-Backed
Securities	7,129,624
			Interest Only Mortgage-Backed
Securities16.8%
	7,990		ABN Amro Mortgage Corp., Ser. IV,
Class A2, 3/25/33	340,594
			American Housing Trust,
	299		Ser. III, Class 4, 3/25/19	4,999
	72		Ser. VII, Class 2, 11/25/20	180,000

BlackRock Income Trust, Inc. (BKT) (continued)

	Principal
	Amount
Rating 1	(000)		Description	Value
			Interest Only Mortgage-Backed
Securities(continued)
	$ 83,880		Commercial Mortgage Acceptance Corp.,
Ser. ML1, 12/15/30	$ 1,826,515
	28,858	3	CS First Boston Mortgage Securities
Corp., Ser. C1, Class AX, 6/20/29	1,336,138
			Federal Home Loan Mortgage Corp.,
	14,250		Ser. 60, Class HS, 4/25/24	377,065
	11		Ser. 176, Class M, 7/15/21	139
	1		Ser. 192, Class U, 2/15/22	151
	3,448		Ser. 204, Class IO, 5/01/29	623,917
	31		Ser. 1043, Class H, 2/15/21	41,123
	4		Ser. 1054, Class I, 3/15/21	765
	30		Ser. 1056, Class KD, 3/15/21	3,809
	40		Ser. 1057, Class J, 3/15/21	8,378
	106		Ser. 1148, Class E, 10/15/21	2,113
	27		Ser. 1179, Class O, 11/15/21	472
	23		Ser. 1221 Class H, 3/15/07	403
	786		Ser. 1706, Class IA, 10/15/23	61,335
	251		Ser. 1720, Class PK, 1/15/24	22,761
	7,801		Ser. 1914, Class PC, 12/15/11	88,935
	1,069		Ser. 1961 Class H, 5/15/12	1,112,910
	8,812		Ser. 2002, Class HJ, 10/15/08	184,109
	46		Ser. 2099, Class JB, 9/15/22	724
	1,800		Ser. 2296, Class SA, 3/15/16	130,690
	1,225		Ser. 2444, Class ST, 9/15/29	91,944
	1,155		Ser. 2513, Class BI, 12/15/15	51,743
	2,450		Ser. 2542, Class MX, 5/15/22	237,474
	1,973		Ser. 2543, Class IM, 9/15/12	89,463
	5,249		Ser. 2545, Class NI, 3/15/22	602,972
	26,703		Ser. 2559, Class IO, 8/15/30	91,790
	8,482		Ser. 2561, Class EW, 9/15/16	788,430
	16,092		Ser. 2611, Class QI, 9/15/32	2,986,115
	24,255		Ser. 2633, Class PI, 3/15/12	1,156,987
	5,873		Ser. 2653, Class MI, 4/15/26	745,484
	10,270		Ser. 2658, Class PI, 6/15/13	823,847
	3,616		Ser. 2664, Class SR, 8/15/33	3,535,026
	5,662		Ser. 2672, Class TQ, 3/15/23	610,457
	11,196		Ser. 2676, Class JI, 8/15/13	416,373
	3,633		Ser. 2687, Class IL, 9/15/18	709,046
	25,229		Ser. 2687, Class IQ, 9/15/22	1,646,711
	6,533		Ser. 2693, Class IB, 6/15/13	656,012
	4,594		Ser. 2694, Class LI, 7/15/19	516,352
	2,050		Ser. 2750, Class TC, 2/15/34	2,031,509
	8,824		Ser. 2773, Class OX, 2/15/18	1,147,056
	19,872		Ser. 2779, Class YS, 1/15/33	1,821,229
	26,560		Ser. 2780, Class SM, 4/15/34	1,278,194
	22,261		Ser. 2786, Class PI, 10/15/10	1,040,266
	2,391		Ser. 2791, Class KS, 5/15/34	2,380,054
			Federal National Mortgage Assoc.,
	398		Ser. 5, Class H, 1/25/22	56,258
	23		Ser. 7, Class 2, 4/01/17	4,279
	72		Ser. 7, Class S, 3/25/21	8,748
	208		Ser. 10, Class S, 5/25/21	25,327
	4,217		Ser. 11, Class PI, 1/25/19	69,203
	103		Ser. 12, Class C, 2/25/22	17,451
	163		Ser. 12, Class S, 5/25/21	29,183
	12,037		Ser. 13, Class IG, 10/25/22	1,001,227
	20,658		Ser. 16, Class PI, 11/25/12	1,013,045
	103		Ser. 17, Class S, 6/25/21	11,906
	1		Ser. 20, Class H, 3/25/06	27

BlackRock Income Trust, Inc. (BKT) (continued)

	Principal
	Amount
Rating 1	(000)		Description	Value
			Interest Only Mortgage-Backed
Securities(continued)
	$ 141		Ser. 33, Class PV, 10/25/21	$ 32,356
	4,375		Ser. 33, Class SG, 3/25/09	225,896
	1,630		Ser. 37, Class SE, 10/25/22	8,214
	12		Ser. 38, Class N, 4/25/21	1,294
	116		Ser. 50, Class G, 12/25/21	15,700
	1,377		Ser. 50, Class SI, 4/25/23	30,984
	7,372		Ser. 51, Class IE, 4/25/26	812,418
	1		Ser. 54, Class H, 5/25/05	17
	6,044		Ser. 55, Class GI, 7/25/19	945,218
	1,159		Ser. 60, Class SB, 10/25/22	26,625
	1,522		Ser. 62, Class IC, 7/25/15	75,201
	1,245		Ser. 62, Class IL, 3/25/24	26,473
	22,813		Ser. 64, Class QI, 1/25/33	4,129,412
	8,044		Ser. 66, Class CI, 7/25/33	1,434,968
	5,134		Ser. 68, Class SC, 1/25/24	450,386
	3,446		Ser. 69, Class AZ, 6/25/19	3,450,241
	5,652		Ser. 71, Class EI, 8/25/33	1,069,392
	5,465		Ser. 82, Class IR, 9/25/12	273,682
	10		Ser. 84, Class H, 8/25/06	515
	26,870		Ser. 88, Class TI, 11/25/13	1,294,608
	42		Ser. 89, Class 2, 6/01/18	7,120
	45,623		Ser. 90, Class JH, 11/25/34	3,891,680
	22,336		Ser. 90, Class M, 1/25/28	3,735,881
	12		Ser. 94, Class 2, 8/01/21	2,461
	51		Ser. 99, Class L, 8/25/21	7,066
	6,113		Ser. 122, Class IA, 9/25/09	192,981
	3,741		Ser. 122, Class IC, 9/25/18	679,485
	9		Ser. 123, Class M, 10/25/20	1,366
	65		Ser. 136, Class S, 11/25/20	77,323
	82		Ser. 139, Class PT, 10/25/21	8,285
	38		Ser. 141, Class SA, 8/25/07	6,415
	4,190		Ser. 199, Class SB, 10/25/23	278,660
	3,728		Ser. 302, Class 2, 6/01/29	690,783
	7,462		Ser. 602, Class BI, 10/25/22	852,279
	1,200		Ser. W4, 12/25/28	178,866
	146		First Boston Mortgage Securities
Corp., Ser. C, Class I, 4/25/17	25,919
	29,423		General Motors Acceptance Corp. Commercial
Mortgage Securities, Inc., Ser. C1, Class X, 7/15/27	1,187,965
	16,214	3	Goldman Sachs Mortgage Securities
Corp., Ser. 5, 2/19/25	343,915
	8,644	3	Hanover Grantor Trust, Ser. A, Class
1, 8/1/27	18,908
	130		Kidder Peabody Acceptance Corp.,
Ser. B, Class A2, 4/22/18	30,620
	3,840		Merrill Lynch Mortgage Investors,
Inc., Ser. C2, 6/15/21	67,424
	128,229		MLCC Mortgage Investors, Inc., Ser.
A, Class XA, 3/25/28	4,087,286
	2,784		Morgan Stanley Capital Trust I, Ser.
3, Class 1AX, 5/25/19	322,093
	7,080	3	Morgan Stanley Capital I, Inc., Ser.
HF1, Class X, , 6/15/17	173,256
			Morgan Stanley Mortgage Trust,
	111		Ser. 38, Class 2, 11/20/21	20,506
	116		Ser. 39, Class 2, 12/20/21	15,901
	2,431		Residential Accredit Loans, Inc.,
Ser. QS7, Class A1, 4/25/33	394,511
	6,942		Residential Asset Securitization
Trust, Ser. A8, Class A2, 10/25/18	6,936,612
	18,430		Small Business Administration, Ser.
1, 4/01/15	138,223
	156,698		Vendee Mortgage Trust, Ser. 2, Class
1, 5/15/29	228,778
			Total Interest Only Mortgage-Backed
Securities	72,945,401

BlackRock Income Trust, Inc. (BKT) (continued)

	Principal
	Amount
Rating 1	(000)		Description	Value
			Principal Only Mortgage-Backed
Securities8.6%
AAA	$ 124		Collateralized Mortgage Obligation
Trust, Ser. 29, Class A, 5/23/17	$ 123,887
			Countrywide Home Loans, Inc.,
AAA	7,809		Ser. 26, 8/25/33	5,522,419
AAA	1,451		Ser. J4, 6/25/33	1,158,180
AAA	2,019		Ser. J5, 7/25/33	1,464,007
AAA	1,514		Ser. J8, 9/25/23	1,091,422
			Drexel Burnham Lambert, Inc.,
AAA	56		Ser. K, Class 1, 9/23/17	49,015
AAA	578		Ser. V, Class 1, 9/01/18	526,053
			Federal Home Loan Mortgage Corp.,
	458		Ser. 8, Class A10, 11/15/28	386,637
	295		Ser. 1418, Class M, 11/15/22	254,259
	698		Ser. 1571, Class G, 8/15/23	550,271
	3,971		Ser. 1691, Class B, 3/15/24	3,574,292
	447		Ser. 1739, Class B, 2/15/24	389,483
			Federal National Mortgage Assoc.,
	583		Ser. 2, Class KB, 1/25/23	478,179
	80		Ser. 7, Class J, 2/25/21	66,689
	1,807		Ser. 13, Class PR, 3/25/32	1,454,481
	154		Ser. 51, Class E, 2/25/23	126,455
	49		Ser. 70, Class A, 5/25/23	44,448
	71		Ser. 167, Class D, 10/25/17	68,388
	86		Ser. 203, Class 1, 2/01/23	77,122
	59		Ser. 228, Class 1, 5/01/23	52,164
	3,030		Ser. 249, Class B, 11/25/23	2,657,953
	476		Ser. 273, Class 1, 7/01/26	426,240
	8,512		Ser. 328, Class 1, 11/01/32	7,259,560
	5,844		Ser. 338, Class 1, 6/01/33	4,805,140
	573		Ser. W4, 2/25/29	452,642
AAA	73		First Union Residential Securitization
Trust, Ser. A, Class 1APO, 3/25/15	72,846
AAA	700		MASTR Asset Securitization Trust,
Ser. 3, Class 4A15, 3/25/34	437,423
AAA	30		Structured Mortgage Asset Residential
Trust, Ser. 3C, Class CX, 4/25/24	27,330
NR	13,000		Resolution Funding Corp., Ser. B,
4/15/30	3,780,790
			Total Principal Only Mortgage-Backed
Securities	37,377,775
			Commercial Mortgage-Backed Securities3.1%
AAA	3,340		Countrywide Alternative Loan Trust,
Ser. 24 CB, Class 1A1, 6.00%, 11/25/34	3,424,297
AAA	9,572	3	New York City Mortgage Loan Trust,
Multi-Family, Class A2, 6.75%, 6/25/11	10,079,442
			Total Commercial Mortgage-Backed
Securities	13,503,739
			Collateralized Mortgage Obligations11.3%
	0		FBC Mortgage Securities Trust 16,
Ser. A, Class 1, 7/01/17	283,265
			Federal Home Loan Mortgage Corp.,
	429		Ser. 19, Class F, 8.50%, 3/15/20	428,825
	7,529		Ser. 2218 Class Z, 8.50%, 3/15/30	8,693,437
	14,188		Ser. 2461, Class Z, 6.50%, 6/15/32	14,917,437
			GSR Mortgage Loan Trust,
	5,955		Ser. 10, Class 2A1, 4.487%, 10/25/33	5,802,547
	5,864		Ser. 13, Class 1A1, 4.515%, 10/25/33	5,771,811

BlackRock Income Trust, Inc. (BKT) (continued)

	Principal
	Amount
Rating 1	(000)		Description	Value
			Collateralized Mortgage Obligations(continued)
			MASTR Alternative Loan Trust,
	$ 2,823		Ser. 7, Class 4A3, 8.00%, 11/25/18	$ 3,105,759
	2,800		Ser. 9, Class 15X2, 6.00%, 1/25/19	350,044
	9,774		MASTR Asset Securitization Trust,
			Ser 12, Class 3A5, 5.25%, 10/25/14	9,751,396
			Total Collateralized Mortgage Obligations	49,104,521
			Collateralized Mortgage Obligation
Residuals0.0%
			Collateralized Mortgage Obligation
Trust,
	6		Ser. 40, Class R, 4/01/18	866
	117		Ser. 42, Class R, 10/01/14	15,405
			Federal Home Loan Mortgage Corp.,
	41		Ser. 19, Class R, 3/15/20	4,396
	0		Ser. 75, Class R, 1/15/21	10
	0		Ser. 75, Class RS, 1/15/21	10
	0		Ser. 173, Class R, 11/15/21	46
	0		Ser. 173, Class RS, 11/15/21	46
	55		Ser. 200, Class R, 12/15/22	953
	13	4	Painewebber Trust, Ser. 88 M, Class
6, 9/01/18	0
			Total Collateralized Mortgage Obligation
Residuals	21,732
			Corporate Bonds1.0%
			Financial Institutions1.0%
	4,376		Structured Asset Receivable Trust,
1.649%, 1/21/10	4,376,267
			U.S. Government and Agency Securities42.8%
	17,115		Overseas Private Investment Corp.,
zero coupon, 7.35%, 5/29/12	17,480,126
			Small Business Administration,
	1,230		Ser. 20C-1, 7.15%, 3/01/17	1,314,052
	1,424		Ser. 20E-1, 7.60%, 5/01/16	1,525,471
	1,902		Ser. 20F-1, 7.55%, 6/01/16	2,038,964
	1,223		Ser. 20G-1, 7.70%, 7/01/16	1,316,020
	1,954		Ser. 20H-1, 7.25%, 8/01/16	2,079,967
	2,896		Ser. 20K-1, 6.95%, 11/01/16	3,077,474
	1,805		Small Business Investment Companies,
Ser. P10A, Class 1, 6.12%, 2/01/08	1,881,171
	129,000		U.S. Treasury Bonds, zero coupon,
11/15/24	49,974,084
			U.S. Treasury Notes,
	40,000	2	1.50%, 3/31/06	39,324,800
	37,000	2	2.50%, 5/31/06	36,716,580
	29,200	2	4.25%, 11/15/13 - 8/15/14	29,495,196
			Total U.S. Government and Agency
Securities	186,223,905
			Total Long-Term Investments (cost
$652,494,202)	641,394,438
			BORROWED BONDS4.7%
			U.S. Government and Agency Securities4.7%
			U.S. Treasury Notes,
	20,250	5	1.55%, 2/01/05	20,250,000
	201	5	2.03%, 2/07/05	200,750
			Total Borrowed Bonds (cost $20,450,750)	20,450,750
			TBA COMMITMENTS(0.8%)
			Mortgage Pass-Through Securities(0.8%)
	(3,500	)	Federal National Mortgage Assoc.,
6.00%	(3,613,750)
			INVESTMENTS SOLD SHORT(10.6%)
			U.S. Government and Agency Securities(10.6%)
	(23,130	)	U.S. Treasury Bonds, 5.375%, 02/15/31	(25,880,388)
	(20,000	)	U.S. Treasury Notes, 4.25%, 11/15/14	(20,181,200)
			Total Investments Sold Short
(proceeds $49,289,415)	(46,061,588)

BlackRock Income Trust, Inc. (BKT) (continued)

	Notional
	Amount
Rating 1	(000)		Description	Value
			Outstanding Options Written(0.4%)
	$ (5,500	)	Federal National Mortgage Assoc.
5.15%, TBA, expires 4/06/05	$ (15,469	)
			Interest Rate Swap,
	(13,500	)	5.05% over 3-month LIBOR, expires
2/23/05	(383,332	)
	(24,800	)	5.67% over 3-month LIBOR, expires
1/04/10	(1,223,316	)
	(77,000	)	5.75% over 3-month LIBOR, expires
9/23/05	(53,130	)
	(13,500	)	6.05% over 3-month LIBOR, expires
2/23/05	(1	)
			Total Outstanding Options Written
(premium received $3,239,970)	(1,675,248	)
			Total investments net of borrowed
bonds, TBA commitments,
			investments sold short and outstanding
options written140.0%	$610,494,602
			Liabilities in excess of other assets(40.4)%	(175,549,106	)
			Net Assets100%	$ 434,945,496

| 1 | Using the higher of Standard &
Poors, Moodys Investors Service or Fitchs Rating. |
| --- | --- |
| 2 | Entire or partial principal amount
pledged as collateral for reverse repurchase agreements or financial futures contracts. |
| 3 | Security is not registered under
the Securities Act of 1933. These securities may be resold in transactions in accordance
with Rule 144A under that Act, to qualified institutional buyers. As of January
31, 2005, the Trust held 2.8% of its net assets, with a current market value of
$12,079,983, in securities restricted as to resale. |
| 4 | Security is fair valued. |
| 3 | Entire principal amount pledged as
collateral for Investments Sold Short. |

KEY TO ABBREVIATIONS — TBA		To be Announced

Item 2. Controls and Procedures.

(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrants disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.

(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

Separate certifications of the registrants principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)___ BlackRock Income Trust, Inc. ___

By: /s/ Henry Gabbay Name: Henry Gabbay Title: Treasurer Date: April 1, 2005

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Robert S. Kapito Name: Robert S. Kapito Title: Principal Executive Officer Date: April 1, 2005

By: /s/ Henry Gabbay Name: Henry Gabbay Title: Principal Financial Officer Date: April 1, 2005

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