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 registrant’s 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        
Rating1 (000) Description   Value     
      LONG-TERM INVESTMENTS—147.5%    
      Mortgage Pass-Through Securities—33.0%    
      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 Administration—3.2%    
  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 Securities—20.1%    
      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  

1

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

  Principal        
  Amount        
Rating1 (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 Securities—3.4%      
  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 Securities—0.0%    
      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 Securities—2.6%    
      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 Securities—1.6%    
      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 Securities—16.8%    
  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  

2

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

  Principal        
  Amount        
Rating1 (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  

3

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

  Principal        
  Amount        
Rating1 (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  

4

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

  Principal        
  Amount        
Rating1 (000) Description   Value     
    Principal Only Mortgage-Backed Securities—8.6%    
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 Securities—3.1%    
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 Obligations—11.3%    
  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  

5

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

  Principal        
  Amount        
Rating1 (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 Residuals—0.0%    
      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 Bonds—1.0%    
      Financial Institutions—1.0%    
  4,376   Structured Asset Receivable Trust, 1.649%, 1/21/10   4,376,267  
      U.S. Government and Agency Securities—42.8%    
  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 BONDS—4.7%    
      U.S. Government and Agency Securities—4.7%    
      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)  

6

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

  Notional        
  Amount        
Rating1 (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 written—140.0%   $610,494,602  
      Liabilities in excess of other assets—(40.4)%   (175,549,106 )
      Net Assets—100%   $ 434,945,496  

1   Using the higher of Standard & Poor’s, Moody’s Investors Service or Fitch’s 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

7

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 registrant’s 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 registrant’s 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