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:      July 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)

July 31, 2005

The BlackRock Income Trust, Inc. (BKT)

  Principal      
    Amount      
Rating1   (000)   Description Value  
      LONG-TERM INVESTMENTS—139.9%  
        Mortgage Pass-Through Securities—30.0%  
AAA   $    7,816   CWALT, Inc., Class 1A5, 5.50%, 8/25/35 $    7,942,978  
        Federal Home Loan Mortgage Corp.,  
    1,277       4.165%, 1/01/35 1,273,143  
    81       4.321%, 2/01/25 81,477  
    1,195       4.97%, 10/01/34 1,196,002  
    12,745       5.50%, 10/01/16 - 5/01/17 13,004,416  
    45       5.552%, 11/01/30 45,994  
    32       5.885%, 11/01/17 32,848  
    86       6.50%, 5/01/29 - 5/01/30 89,291  
    15       7.50%, 2/01/23 15,800  
    92       8.00%, 11/01/15 95,385  
    40       8.50%, 10/01/06 - 3/01/08 41,352  
    217       9.00%, 9/01/20 236,063  
        Federal National Mortgage Assoc.,  
    18,740       5.00%, 6/01/33 - 12/01/99 18,497,887  
    56,371 2, 3      5.50%, 12/01/13 - 8/01/34 57,202,822  
    8,308 2      6.00%, 11/01/31 - 8/01/34 8,484,370  
    4,274       6.50%, 2/01/26 - 5/01/31 4,423,517  
    6,973 2      7.00%, 6/01/26 - 2/01/32 7,335,700  
    5,141       7.50%, 11/01/14 - 9/01/23 5,323,366  
    360       8.00%, 5/01/08 - 5/01/22 371,314  
    12       9.50%, 1/01/19 - 9/01/19 13,183  
        Government National Mortgage Assoc.,  
    129       7.00%, 10/15/17 137,243  
    662       7.50%, 8/15/21 - 12/15/23 712,332  
    442       8.00%, 10/15/22 - 2/15/29 477,045  
    44       9.00%, 6/15/18 - 9/15/21 48,040  
        Total Mortgage Pass-Through Securities 127,081,568  
        Federal Housing Administration Securities—2.9%  
    521   GMAC Colonial Project, 7.40%, 12/01/22 535,060  
        GMAC Projects,  
    3,047       Ser. 51, 7.43%, 2/01/23 3,130,971  
    1,042       Ser. 56, 7.43%, 11/01/22 1,072,052  
    53   Merrill Projects, Ser. 54, 7.43%, 5/15/23 55,007  
    846   Reilly Project, Ser. 41, 8.28%, 3/01/20 872,700  
        USGI Projects,  
    5,906       Ser. 6094, 7.43%, 6/01/21 6,070,446  
    114       Ser. 87, 7.43%, 12/01/22 117,411  
    456       Ser. 99, 7.43%, 10/01/23 469,610  
        Total Federal Housing Administration Securities 12,323,257  
        Agency Multiple Class Mortgage Pass-Through Securities—19.0%  
        Federal Home Loan Mortgage Corp.,  
    5,939       Ser. 11, Class A9, 0.03%, 1/25/28 4,959,143  
    3,000       Ser. 1598, Class J, 6.50%, 10/15/08 3,090,300  
    10,200       Ser. 2542, Class UC, 6.00%, 12/15/22 10,464,282  
    12,448       Ser. 2758, Class KV, 5.50%, 5/15/23 12,807,250  
    1,829       Ser. 2765, Class UA, 4.00%, 3/15/11 1,733,804  
        Federal National Mortgage Assoc.,  
    12,264       Ser. 135, Class PB, 6.00%, 1/25/34 12,745,975  
    8,480       Ser. 28, Class PB, 6.00%, 8/25/28 8,546,695  
    3,015       Ser. 29, Class HC, 7.50%, 7/25/30 3,180,089  
    2,013       Ser. 31, Class ZG, 7.50%, 5/25/34 2,252,784  
    8,669       Ser. 32, Class VT, 6.00%, 9/25/15 8,829,924  
    297       Ser. 43, Class E, 7.50%, 4/25/22 304,229  
    1,660       Ser. 60, Class PA, 5.50%, 4/25/34 1,641,438  

1

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

  Principal      
    Amount      
Rating1   (000)   Description Value  
      Agency Multiple Class Mortgage Pass-Through Securities—(continued)  
        Government National Mortgage Assoc.,  
    $    2,500       Ser. 33, Class PB, 6.50%, 7/20/31 $    2,588,884  
    1,703       Ser. 5, Class Z, 7.00%, 5/16/26 1,773,972  
    5,363       Ser. 89, Class PE, 6.00%, 10/20/34 5,691,799  
        Total Agency Multiple Class Mortgage Pass-Through Securities 80,610,568  
        Non-Agency Multiple Class Mortgage Pass-Through Securities—3.0%  
AAA   11,994   Residential Funding Securities Corp., Ser. RM2, Class AI5, 8.50%, 5/25/33 12,730,792  
AAA   89 4  Summit Mortgage Trust, Ser. 1, Class B1, 6.06%, 12/28/12 88,568  
        Total Non-Agency Multiple Class Mortgage Pass-Through Securities 12,819,360  
        Adjustable Rate Mortgage Securities—4.3%  
        Federal National Mortgage Assoc.,  
    11       Ser. 256, Class F, 4.969%, 11/25/23 10,942  
    134       Ser. 38, Class F, 8.325%, 4/25/21 143,037  
AAA   7,142   Residential Asset Securitization Trust, 3.99%, Ser. A8, Class A2, 10/25/18 7,132,627  
        GSR Mortgage Loan Trust,  
    5,682       Ser. 10, Class 2A1, 4.48%, 10/25/33 5,458,259  
    5,437       Ser. 13, Class 1A1, 4.51%, 10/25/33 5,277,428  
        Total Adjustable Rate Mortgage Securities 18,022,293  
        Inverse Floating Rate Mortgages—2.0%  
        Federal Home Loan Mortgage Corp.,  
    25       Ser. 1043, Class H, 28.68%, 2/15/21 31,223  
    52       Ser. 1160, Class F, 25.553%, 10/15/21 53,073  
    521 3      Ser. 1616, Class SB, 8.50%, 11/15/08 523,324  
    1,692       Ser. 1688, Class S, 10.371%, 12/15/13 1,738,448  
    132       Ser. 2613, Class BS, 6.69%, 11/15/32 130,571  
    532       Ser. 2664, Class SR, 5.15%, 8/15/33 530,156  
    24       Ser. 2752, Class SV, 8.975%, 9/15/33 23,922  
        Federal National Mortgage Assoc.,  
    51       Ser. 136, Class S, 16.43%, 11/25/20 63,038  
    9       Ser. 145, Class S, 23.909%, 10/25/06 9,723  
    156       Ser. 170, Class SC, 9.00%, 9/25/08 158,365  
    1,449       Ser. 196, Class SC, 9.036%, 10/25/08 1,477,463  
    537       Ser. 214, Class SH, 9.293%, 12/25/08 527,154  
    1,508       Ser. 247, Class SN, 10.00%, 12/25/23 1,503,588  
    135       Ser. 38, Class SA, 10.186%, 4/25/21 140,373  
    31       Ser. 46, Class S, 17.247%, 5/25/21 10,185  
    35       Ser. 49, Class S, 6.741%, 12/25/21 4,192  
    794       Ser. 72, Class S, 8.75%, 5/25/08 800,313  
    186       Ser. 87, Class S, 17.49%, 8/25/21 255,410  
    343       Ser. 93, Class S, 8.50%, 5/25/08 345,095  
    249   Kidder Peabody Acceptance Corp., Ser. 1, Class A6, 10.196%, 8/25/23 249,376  
        Total Inverse Floating Rate Mortgages 8,574,992  
        Interest Only Asset-Backed Securities—1.5%  
        Sterling Coofs Trust,  
    45,771 4      Ser. 1, 2.546%, 4/15/29 3,833,345  
    33,705 4      Ser. 2, 2.02%, 3/30/30 2,612,138  
        Total Interest Only Asset-Backed Securities 6,445,483  
        Interest Only Mortgage-Backed Securities—12.1%  
    4,638   ABN Amro Mortgage Corp., Ser. IV, Class A2, 5.50%, 3/25/33 202,660  
        American Housing Trust,  
    260       Ser. III, Class 4, 8.50%, 3/25/19 4,999  
    64       Ser. VII, Class 2, 9.45%, 11/25/20 180,000  
    83,101   Commercial Mortgage Acceptance Corp., Ser. ML1, 0.92%, 12/15/30 1,567,211  
    28,104 4  CS First Boston Mortgage Securities Corp., Ser. C1, Class AX, 1.92%, 6/20/29 1,024,654  
        Federal Home Loan Mortgage Corp.,  
    3       Ser. 1054, Class I, 565.88%, 3/15/21 653  
    26       Ser. 1056, Class KD, 1,084.50%, 3/15/21 3,263  
    29       Ser. 1057, Class J, 1,008.00%, 3/15/21 6,036  
    93       Ser. 1148, Class E, 769.42%, 10/15/21 2,055  
    23       Ser. 1179, Class O, 1,009.39%, 11/15/21 396

2

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

  Principal      
    Amount      
Rating1   (000)   Description Value  
      Interest Only Mortgage-Backed Securities—(continued)  
    $         15       Ser. 1221 Class H, 1,006.50%, 3/15/07 $             259  
    602       Ser. 1706, Class IA, 7.00%, 10/15/23 40,515  
    189       Ser. 1720, Class PK, 7.50%, 1/15/24 14,781  
    9       Ser. 176, Class M, 1,010.00%, 7/15/21 111  
    6,453       Ser. 1914, Class PC, 0.75%, 12/15/11 73,948  
    1       Ser. 192, Class U, 1,009.00%, 2/15/22 133  
    48       Ser. 200, Class R, 10.50%, 12/15/22 907  
    5,436       Ser. 2002, Class HJ, 3.00%, 10/15/08 81,139  
    2,903       Ser. 204, Class IO, 6.00%, 5/1/29 566,901  
    1,524       Ser. 2296, Class SA, 4.18%, 3/15/16 92,514  
    936       Ser. 2444, Class ST, 4.40%, 9/15/29 63,183  
    849       Ser. 2513, Class BI, 5.50%, 12/15/15 33,169  
    2,167       Ser. 2542, Class MX, 5.50%, 5/15/22 216,269  
    1,254       Ser. 2543, Class IM, 5.00%, 9/15/12 40,004  
    4,519       Ser. 2545, Class NI, 5.50%, 3/15/22 491,196  
    14,266       Ser. 2559, Class IO, 0.86%, 8/15/30 66,873  
    7,479       Ser. 2561, Class EW, 5.00%, 9/15/16 740,281  
    14,992       Ser. 2611, Class QI, 5.50%, 9/15/32 2,617,359  
    18,533       Ser. 2633, Class PI, 4.50%, 3/15/12 724,264  
    5,362       Ser. 2653, Class MI, 5.00%, 4/15/26 651,896  
    9,453       Ser. 2658, Class PI, 4.50%, 6/15/13 753,942  
    5,662       Ser. 2672, Class TQ, 5.00%, 3/15/23 530,051  
    9,239       Ser. 2676, Class JI, 5.50%, 8/15/13 392,002  
    3,633       Ser. 2687, Class IL, 5.00%, 9/15/18 642,520  
    21,948       Ser. 2687, Class IQ, 5.50%, 9/15/22 1,042,955  
    6,533       Ser. 2693, Class IB, 4.50%, 6/15/13 578,069  
    4,097       Ser. 2694, Class LI, 4.50%, 7/15/19 406,195  
    7,892       Ser. 2773, Class OX, 5.00%, 2/15/18 1,035,383  
    17,770       Ser. 2779, Class YS, 3.58%, 1/15/33 1,249,060  
    23,654       Ser. 2780, Class SM, 2.43%, 4/15/34 833,330  
    18,078       Ser. 2786, Class PI, 4.50%, 10/15/10 684,263  
    6,727       Ser. 2825, Class NI, 5.50%, 3/15/30 1,544,514  
    45,257       Ser. 2990, Class WR, 2.94%, 6/15/35 3,224,588  
    10,623       Ser. 60, Class HS, 2.31%, 4/25/24 173,898  
        Federal National Mortgage Assoc.,  
    173       Ser. 10, Class S, 7.29%, 5/25/21 21,218  
    88       Ser. 12, Class C, 772.00%, 2/25/22 14,495  
    141       Ser. 12, Class S, 772.00%, 5/25/21 32,509  
    4,416       Ser. 122, Class IA, 4.00%, 9/25/09 100,462  
    3,741       Ser. 122, Class IC, 5.00%, 9/25/18 633,999  
    8       Ser. 123, Class M, 1,009.50%, 10/25/20 1,142  
    10,811       Ser. 13, Class IG, 5.00%, 10/25/22 781,975  
    73       Ser. 139, Class PT, 648.35%, 10/25/21 7,238  
    25       Ser. 141, Class SA, 21.10%, 8/25/07 5,675  
    15,415       Ser. 16, Class PI, 5.00%, 11/25/12 724,033  
    89       Ser. 17, Class S, 725.00%, 6/25/21 14,338  
    3,511       Ser. 199, Class SB, 4.03%, 10/25/23 173,973  
    0       Ser. 20, Class H, 856.27%, 3/25/06 4  
    3,188       Ser. 302, Class 2, 6.00%, 6/1/29 628,576  
    120       Ser. 33, Class PV, 1,078.42%, 10/25/21 28,749  
    3,422       Ser. 33, Class SG, 4.44%, 3/25/09 290,260  
    329       Ser. 37, Class SE, 1.10%, 10/25/22 442  
    10       Ser. 38, Class N, 1,008.50%, 4/25/21 1,017  
    350       Ser. 5, Class H, 9.00%, 1/25/22 48,282  
    95       Ser. 50, Class G, 4.50%, 12/25/21 11,997  
    1,169       Ser. 50, Class SI, 1.20%, 4/25/23 29,278  
    7,372       Ser. 51, Class IE, 5.50%, 4/25/26 571,590  
    6,044       Ser. 55, Class GI, 5.00%, 7/25/19 888,767  
    6,508       Ser. 59, Class S, 6.68%, 10/25/22 1,000,418  
    997       Ser. 60, Class SB, 1.60%, 10/25/22 21,455  
    6,557       Ser. 602, Class BI, 5.50%, 10/25/22 786,676  
    1,168       Ser. 62, Class IC, 5.50%, 7/25/15 54,237

3

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

  Principal      
    Amount      
Rating1   (000)   Description Value  
      Interest Only Mortgage-Backed Securities—(continued)  
    $        231       Ser. 62, Class IL, 5.50%, 3/25/24 $            1,196  
    21,261       Ser. 64, Class QI, 5.50%, 1/25/33 3,805,716  
    7,408       Ser. 66, Class CI, 5.00%, 7/25/33 1,261,057  
    4,136       Ser. 68, Class SC, 4.44%, 1/25/24 270,417  
    18       Ser. 7, Class 2, 8.50%, 4/1/17 4,000  
    63       Ser. 7, Class S, 753.00%, 3/25/21 10,942  
    6,170       Ser. 71, Class EI, 5.50%, 8/25/33 1,110,379  
    3,687       Ser. 82, Class IR, 5.00%, 9/25/12 127,411  
    4       Ser. 84, Class H, 1,110.63%, 8/25/06 145  
    20,529       Ser. 88, Class TI, 4.50%, 11/25/13 1,107,725  
    34       Ser. 89, Class 2, 8.00%, 6/1/18 6,213  
    43,911       Ser. 90, Class JH, 3.24%, 11/25/34 2,851,592  
    19,739       Ser. 90, Class M, 6.00%, 1/25/28 3,029,135  
    10       Ser. 94, Class 2, 9.50%, 8/1/21 2,416  
    44       Ser. 99, Class L, 9.30%, 8/25/21 5,915  
    990       Ser. W4, 6.50%, 12/25/28 150,967  
AAA   137   First Boston Mortgage Securities Corp., Ser. C, Class I, 10.97%, 4/25/17 23,783  
        Government National Mortgage Assoc.,  
    2,906       Ser. 39, Class ID, 5.00%, 5/20/33 548,939  
    3,569       Ser. 58, Class IT, 5.50%, 7/20/33 408,964  
    13,642       Ser. 75, Class IJ, 5.50%, 7/20/25 844,564  
    29,872       Ser. 89, Class SA, 2.33%, 10/16/33 1,786,971  
Aaa   27,185   GMAC Commercial Mortgage Securities, Inc., Ser. C1, Class X, 1.57%, 7/15/27 1,180,385  
AAA   13,829 2  Goldman Sachs Mortgage Securities Corp., Ser. 5, 0.98%, 2/19/25 297,097  
AAA   116   Kidder Peabody Acceptance Corp., Ser. B, Class A2, 9.50%, 4/22/18 27,774  
Aaa   3,390   Merrill Lynch Mortgage Investors, Inc., Ser. C2, 1.22%, 6/15/21 81,559  
    100,324   MLCC Mortgage Investors Inc., Ser. A, Class XA, 1.03%, 3/25/28 1,755,664  
AAA   2,489   Morgan Stanley Cap. Trust I, Ser. 3, Class 1AX, 5.00%, 5/25/19 313,377  
Aaa   6,143 2  Morgan Stanley Capital I, Inc., Ser. HF1, Class X, 1.67%, 6/15/17 123,109  
    16,697   Small Business Administration, Ser. 1, 1.38%, 4/1/15 125,229  
    139,956   Vendee Mortgage Trust, Ser. 2, Class 1, 0.05%, 5/15/29 327,498  
        Total Interest Only Mortgage-Backed Securities 51,061,343  
        Principal Only Mortgage-Backed Securities—7.9%  
AAA   107   Collateralized Mortgage Obligation Trust, Ser. 29, Class A, 11.50%, 5/23/17 106,375  
        Countrywide Home Loans, Inc.,  
AAA   7,215       Ser. 26, 5.42%, 8/25/33 5,250,529  
AAA   1,356       Ser. J4, 5.59%, 6/25/33 1,150,702  
AAA   1,903       Ser. J5, 5.60%, 7/25/33 1,417,915  
AAA   1,475       Ser. J8, 5.15%, 9/25/23 1,061,043  
        Drexel Burnham Lambert, Inc.,  
AAA   51       Ser. K, Class 1, 11.00%, 9/23/17 44,221  
AAA   503       Ser. V, Class 1, 11.50%, 9/1/18 451,716  
        Federal Home Loan Mortgage Corp.,  
    252       Ser. 1418, Class M, 7.50%, 11/15/22 231,605  
    614       Ser. 1571, Class G, 7.50%, 8/15/23 548,783  
    3,320       Ser. 1691, Class B, 7.50%, 3/15/24 2,909,101  
    358       Ser. 1739, Class B, 8.00%, 2/15/24 312,830  
    388       Ser. 8, Class A10, 6.74%, 11/15/28 333,679  
        Federal National Mortgage Assoc.,  
    1,481       Ser. 13, Class PR, 6.50%, 3/25/32 1,228,664  
    70       Ser. 167, Class D, 8.50%, 10/25/17 66,297  
    496       Ser. 2, Class KB, 8.00%, 1/25/23 400,485  
    73       Ser. 203, Class 1, 8.00%, 2/1/23 64,435  
    45       Ser. 228, Class 1, 7.00%, 5/1/23 38,928  
    2,648       Ser. 249, Class B, 7.50%, 11/25/23 2,319,563  
    399       Ser. 273, Class 1, 7.00%, 7/1/26 345,333  
    7,167       Ser. 328, Class 1, 6.00%, 11/1/32 5,924,129  
    5,174       Ser. 338, Class 1, 5.50%, 6/1/33 4,143,626  
    154       Ser. 51, Class E, 8.00%, 2/25/23 125,857  
    69       Ser. 7, Class J, 10.00%, 2/25/21 57,390  
    40       Ser. 70, Class A, 7.00%, 5/25/23 37,316

4

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

  Principal      
    Amount      
Rating1   (000)   Description Value  
      Principal Only Mortgage-Backed Securities—(continued)  
    $        509       Ser. W4, 5.99%, 2/25/29 $        393,821  
AAA   611   MASTR Asset Securitization Trust, Ser. 3, Class 4A15, 5.70%, 3/25/34 467,885  
AAA   28   Structured Mortgage Asset Residential Trust, Ser. 3C, Class CX, 7.10%, 4/25/24 26,116  
Aaa   13,000   Resolution Funding Corp., Ser. B, Zero Coupon, 4/15/30 4,136,080  
        Total Principal Only Mortgage-Backed Securities 33,594,424  
        Commercial Mortgage-Backed Securities—0.9%  
AAA   3,764 2  New York City Mortgage Loan Trust, Multi-Family, Class A2, 6.75%, 6/25/11 3,846,882  
        Collateralized Mortgage Obligations—14.4%  
AAA   0   FBC Mortgage Securities Trust 16, Ser. A, Class 1, zero coupon, 7/01/17 283,265  
        Federal Home Loan Mortgage Corp.,  
    374       Ser. 19, Class F, 8.50%, 3/15/20 374,763  
    890       Ser. 1961 Class H, 6.50%, 5/15/12 914,960  
    7,855       Ser. 2218 Class Z, 8.50%, 3/15/30 8,914,530  
    14,655       Ser. 2461, Class Z, 6.50%, 6/15/32 15,308,627  
    2,475       Ser. 2562, Class PG, 5.00%, 1/15/18 2,486,286  
    2,377       Ser. 2582, Class TB, 3.50%, 10/15/21 2,370,730  
    2,050       Ser. 2750, Class TC, 5.25%, 2/15/34 2,064,350  
    3,591       Ser. 2806, Class VC, 6.00%, 12/15/19 3,686,250  
    2,113       Ser. 2927, Class BZ, 5.50%, 2/15/35 2,033,421  
    3,089       Ser. 2996, Class MK, 5.50%, 6/15/35 3,099,926  
        MASTR Alternative Loan Trust,  
AAA   2,432       Ser. 7, Class 4A3, 8.00%, 11/25/18 2,536,567  
AAA   2,235       Ser. 9, Class 15X2, 6.00%, 1/25/19 323,821  
AAA   9,382   MASTR Asset Securitization Trust, Ser 12, Class 3A5, 5.25%, 10/25/14 9,199,667  
AAA   3,600   Remic Trust 2005 46 Class LW, 5.00%, 6/25/20 3,582,281  
AAA   3,780   Remic Trust 2005 47 Class Alaska, 5.00%, 6/25/20 3,767,597  
        Total Collateralized Mortgage Obligations 60,947,041  
        Collateralized Mortgage Obligation Residuals—0.0%  
        Federal Home Loan Mortgage Corp.,  
    0       Ser. 173, Class R, 9.00%, 11/15/21 39  
    0       Ser. 173, Class RS, 9.06%, 11/15/21 40  
    36       Ser. 19, Class R, 10.00%, 3/15/20 4,762  
    0       Ser. 75, Class R, 9.50%, 1/15/21 8  
    0       Ser. 75, Class RS, 9.50%, 1/15/21 8  
        Collateralized Mortgage Obligation Trust,  
    5       Ser. 40, Class R, 580.50%, 4/01/18 750  
    104       Ser. 42, Class R, 6,000.00%, 10/01/14 12,969  
    13   Painewebber CMO Trust, Ser. 88 M, Class 6, zero coupon, 9/01/18 0  
        Total Collateralized Mortgage Obligation Residuals 18,576  
        Corporate Bonds—1.0%  
        Financial Institutions—1.0%  
    4,114 2  Structured Asset Receivable Trust, 1.649%, 1/21/10 4,112,283  
        U.S. Government and Agency Securities—40.9%  
        Overseas Private Investment Corp.,  
    315       zero coupon, 5/29/12 316,544  
    293       4.09%, 5/29/12 267,385  
    818       4.30%, 5/29/12 761,185  
    609       4.64%, 5/29/12 575,787  
    344       4.68%, 5/29/12 319,515  
    2,596       4.87%, 5/29/12 2,479,378  
    3,235       5.40%, 5/29/12 3,188,278  
    371       5.46%, 5/29/12 371,196  
    340       5.79%, 5/29/12 340,770  
    451       5.88%, 5/29/12 455,597  
    1,243       5.94%, 5/29/12 1,254,531  
    354       5.95%, 5/29/12 356,236  
    417       6.10%, 5/29/12 422,990  
    503       6.81%, 5/29/12 514,580  
    4,014       6.89%, 5/29/12 4,128,278  
    1,349       6.91%, 5/29/12 1,369,550

5

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

  Principal      
    Amount      
Rating1   (000)   Description Value  
      U.S. Government and Agency Securities—(continued)  
    $        362       7.35%, 5/29/12 $        373,385  
        Small Business Administration,  
    1,136       Ser. 20C-1, 7.15%, 3/01/17 1,197,630  
    1,214       Ser. 20E-1, 7.60%, 5/01/16 1,284,648  
    1,643       Ser. 20F-1, 7.55%, 6/01/16 1,739,829  
    1,107       Ser. 20G-1, 7.70%, 7/01/16 1,175,927  
    1,671       Ser. 20H-1, 7.25%, 8/01/16 1,757,481  
    2,517       Ser. 20K-1, 6.95%, 11/01/16 2,642,589  
    1,689   Small Business Investment Cos., Ser. P10A, Class 1, 6.12%, 2/01/08 1,758,419  
    129,000 3  U.S. Treasury Bonds, zero coupon, 11/15/24 53,151,483  
        U.S. Treasury Notes,  
    40,000       1.50%, 3/31/06 39,400,000  
    5,672       2.00%, 7/15/14 5,734,482  
    2,930       2.50%, 5/31/06 2,897,506  
    915       3.625%, 1/15/10 896,270  
    21,000       3.75%, 3/31/07 20,917,890  
    21,400 3      4.25%, 11/15/13 - 8/15/14 21,379,058  
        Total U.S. Government and Agency Securities 173,428,397  
        Total Long-Term Investments (cost $609,669,2735) 592,886,467  
        BORROWED BONDS—17.7%  
        U.S. Government and Agency Securities—17.7%  
        U.S. Treasury Bonds,  
    26,656 6      2.83%, 8/03/05 26,656,125  
    19,530 6      3.15%, 8/01/05 19,530,000  
        U.S. Treasury Notes,  
    14,863 6      3.05%, 8/02/05 14,862,750  
    14,039 6      3.10%, 8/01/05 14,039,000  
        Total Borrowed Bonds (cost $25,390,493) 75,087,875  
        INVESTMENTS SOLD SHORT—(14.7%)  
        U.S. Government and Agency Securities—(14.7%)  
        U.S. Treasury Bonds,  
    (2,930)       5.375%, 2/15/31 (14,687,704)  
    (15,750)       6.25%, 8/15/23 (18,986,153)  
        U.S. Treasury Notes,  
    (14,900)       4.00%, 2/15/15 (14,564,750)  
    (13,900)       4.25%, 11/15/14 (13,858,189)  
        Total Investments Sold Short (cost $25,390,493) (62,096,796)  

6

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

       
  Contracts/      
    Notional      
    Amount      
    (000)   Description Value  
      OUTSTANDING OPTIONS WRITTEN—(0.4%)  
        Interest Rate Swap;  
    $(11,400)       5.135% over 3-month LIBOR, expires 4/21/08 $     (480,909)  
    (24,800)       5.67% over 3-month LIBOR, expires 1/04/10 (1,252,400)  
    (77,000)       5.75 over 3-month LIBOR, expires 9/23/05 (1,540)  
    (62)   U.S. Treasury Notes Futures, expires 9/16/05 (969)  
        Total Outstanding Options Written (premium received $3,458,133) (1,735,818)  
        Total investments net of borrowed bonds, investments sold short and outstanding  
            options written—142.5% 604,141,728  
        Liabilities in excess of other assets (including $149,519,019 of reverse repurchase agreements  
            payable and $43,827,019 of investment purchase payable)—(42.5)% (180,295,034)  
        Net Assets—100% $423,846,694  

1   Using the higher of Standard & Poor’s, Moody’s Investor Service or Fitch Ratings.  
2   Entire or partial principle amount pledged as collateral for reverse repurchase agreements.  
3   Security, or a portion thereof, pledged as collateral with a value of $5,103,944 on 8 long U.S. Treasury futures contracts expiring September 2005, 1,105 short U.S. Treasury futures contracts expiring September 2005 and 350 short Eurodollar futures contracts expiring September 2005 to September 2007. The value of such contracts in July 31, 2005 was $208,122,919 with an unrealized gain of $2,072,315.  
4   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 July 31, 2005, the Trust held 3.7% of it nets assets, with a current market value of $15,814,967, in securities restricted as to resale.  
5   Cost for Federal income tax purposes is $611,955,907. The net unrealized depreciation on a tax basis is $19,069,440, consisting of $17,042,802 gross unrealized appreciation and $36,112,242 gross unrealized depreciation.  
6   The interest rate and maturity date shown represent the term of the bonds borrowed transaction, not the security borrowed.  

 

7

Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management , including it principle executive and principle financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are 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: September 28, 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: September 28, 2005

By: /s/ Henry Gabbay                                                  
Name: Henry Gabbay
Title: Principal Financial Officer
Date: September 28, 2005