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, 2006
Date of reporting period:         January 31, 2006

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
JANUARY 31, 2006 (unaudited)

BlackRock Income Trust Inc. (BKT)

Principal        
Amount        
Rating1 (000)   Description   Value  
    LONG-TERM INVESTMENTS—141.5%    
      Mortgage Pass-Through Securities—30.6%    
AAA $ 3,850 2 CWALT., Ser. 56, Class 1A1, 5.311%, 10/25/35 $ 3,888,663  
      Federal Home Loan Mortgage Corp.,    
  1,127 2      4.173%, 1/01/35   1,111,738  
  1,050 2      4.96%, 10/01/34   1,023,588  
  41 2      5.28%, 2/01/25   41,396  
  11,202        5.50%,10/01/16-5/01/17   11,274,132  
  39 2      5.551%, 11/01/30   39,333  
  31 2      6.01%, 11/01/17   31,370  
  76        6.50%, 5/01/29-5/01/30   78,439  
  5        7.50%, 2/01/23   4,969  
  67        8.00%, 11/01/15   69,253  
  20        8.50%,10/01/26-3/01/08   21,637  
  190        9.00%, 9/01/20   205,860  
      Federal National Mortgage Assoc.,    
  17,834 3      5.00%, 6/01/33-7/01/34   17,291,518  
  14,953        5.00%, 6/01/33-11/01/35   14,456,238  
  38,509        5.50%, 12/01/13-8/01/34   38,477,820  
  2,588 4      5.50%, 9/01/17   2,607,269  
  15,223 4      5.50%, 9/01/17-10/01/35   15,217,521  
  6,687        6.00%, 11/01/31-8/01/34   6,759,045  
  3,369        6.50%, 2/01/26-5/01/31   3,467,822  
  5,377        7.00%, 6/01/26-1/01/32   5,584,185  
  5,092        7.50%, 11/01/14-9/01/23   5,166,863  
  255        8.00%, 5/01/08-5/01/22   261,124  
  5        9.50%, 1/01/19-9/01/19   4,757  
      Government National Mortgage Assoc.,    
  95        7.00%, 10/15/17   100,083  
  571        7.50%, 8/15/21-12/15/23   602,873  
  321        8.00%, 10/15/22-2/15/29   346,420  
  40        9.00%, 6/15/18-9/15/21   43,485  
      Total Mortgage Pass-Through Securities   $128,177,401  
      Federal Housing Administration Securities—2.2%    
  512   General Motors Acceptance Corp. Colonial, 7.40%, 12/01/22   518,778  
      General Motors Acceptance Corp. Projects,    
  304        Ser. 51, 7.43%, 2/01/23   308,350  
  1,024        Ser. 56, 7.43%, 11/01/22   1,037,986  
  52   Merrill Projects, 7.43%, 5/15/23   53,165  
  828   Reilly Project, 8.28%, 3/01/20   841,016  
      USGI Projects,    
  113        Ser. 87, 7.43%, 12/01/22   114,010  
  450        Ser. 99,7.43%,   456,456  
  5,824        Ser. 6094, 7.43%, 6/01/21   5,899,275  
      Total Federal Housing Administration Securities   9,229,036  
      Agency Multiple Class Mortgage Pass-Through Securities—19.4%    
      Federal Home Loan Mortgage Corp.,  
  5,403 2      Ser. 11, Class A9, 2.501%, 1/25/28   4,511,216  
  1,000        Ser. 40, Class K, 6.50%, 8/17/24   1,029,862  
  10        Ser. 1035, Class R, 488.321%, 1/15/21   —  
  3,000        Ser. 1598, Class J, 6.50%, 10/15/08   3,052,260  
  10,200        Ser. 2542, Class UC, 6.00%, 12/15/22   10,347,288  
  12,238        Ser. 2758, Class KV, 5.50%, 5/15/23   12,166,789  
  1,619        Ser. 2765, Class UA, 4.00%, 3/15/11   1,555,848  

1

BlackRock Income Trust Inc. (BKT) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
      Agency Multiple Class Mortgage Pass-Through Securities—(cont’d)    
      Federal National Mortgage Assoc.,    
  $ 7,825        Ser. 28, Class PB, 6.00%, 8/25/28 $ 7,865,600  
  2,731        Ser. 29, Class HC, 7.50%, 7/25/30   2,837,657  
  2,089        Ser. 31, Class ZG, 7.50%, 5/25/34   2,439,380  
  8,349        Ser. 32, Class VT, 6.00%, 9/25/15   8,441,541  
  112 2      Ser. 38, Class F, 8.325%, 4/25/21   118,413  
  1,581        Ser. 60, Class PA, 5.50%, 4/25/34   1,581,978  
  12,264        Ser. 135, Class PB, 6.00%, 1/25/34   12,370,697  
  3,007   Freddie Mac Structured Pass, 5.50%, 6/15/35   3,012,448  
      Government National Mortgage Assoc.,    
  1,466        Ser. 5, Class Z, 7.00%, 5/16/26   1,510,958  
  2,500        Ser. 33, Class PB, 6.50%, 7/20/31   2,561,410  
  11,678        Ser. 75, Class IJ, 5.50%, 7/20/25   630,631  
  5,152        Ser. 89. Class Pe, 6.00%, 10/20/34   5,038,000  
      Total Agency Multiple Class Mortgage Pass-Through Securities   81,071,977  
      Non-Agency Multiple Class Mortgage Pass-Through Securities—3.1%    
  12,205   Residential Funding Securities Corp., 8.50%, 5/25/33   12,919,483  
  76 2,5 Summit Mortgage Trust, 6.266%, 12/28/12   76,440  
      Total Non-Agency Multiple Class Mortgage Pass-Through Securities   12,995,923  
      Inverse Floating Rate Mortgage Securities—1.4%    
      Federal Home Loan Mortgage Corp.,    
  22 2      Ser. 1043, Class H, 24.188%, 2/15/21   25,245  
  46 2      Ser. 1160, Class F, 20.506%, 10/15/21   46,454  
  396 2,4      Ser. 1616, Class SB, 8.50%, 11/15/08   395,308  
  1,269 2      Ser. 1688, Class S, 9.926%, 12/15/13   1,283,993  
      Federal National Mortgage Assoc.,    
  114 2      Ser. 38, Class SA, 10.186%, 4/25/21   116,584  
  — 2      Ser. 46, Class S, 1,481.344%, 5/25/21   4,952  
  — 2      Ser. 49, Class S, 563.55%, 12/25/21   3,944  
  557 2      Ser. 72, Class S, 8.75%, 5/25/08   556,677  
  170 2      Ser. 87, Class S, 14.675%, 8/25/21   201,447  
  241 2      Ser. 93, Class S, 8.50%, 5/25/08   245,681  
  1 2      Ser. 145, Class S, 20.191%, 10/25/06   993  
  102 2      Ser. 170, Class SC, 9.00%, 9/25/08   102,503  
  1,075 2      Ser. 196, Class SC, 8.313%, 10/25/08   1,080,579  
  410 2      Ser. 214, Class SH, 6.497%, 12/25/08   395,997  
  1,280 2      Ser. 247, Class SN, 10.00%, 12/25/23   1,294,800  
  237 2 Kidder Peabody Acceptance Corp., 8.209%, 8/25/23   236,937  
      Total Inverse Floating Rate Mortgage Securities   5,992,094  
      Interest Only Asset-Backed Securities—1.7%    
  188,837 2 CWALT, Inc., Ser. 79 CB, Class A2, 0.42%, 1/25/36   1,534,299  
  4,377 2,5 Morgan Stanley Cap. Trust I, 1.729%, 6/15/17   49,293  
      Sterling Coofs Trust,    
  38,759 2      Ser. 1, 2.362%, 4/15/29   3,149,156  
  33,705        Ser. 2, 1.00%, 3/30/30   2,527,875  
      Total Interest Only Asset-Backed Securities   7,260,623  
      Interest Only Mortgage-Backed Securities—9.0%    
  3,296   ABN Amro Mortgage Corp., 5.50%, 3/25/33   122,661  
  230   American Housing Trust, 3/25/19   4,999  
  82,226 2,6 Commercial Mortgage Acceptance Corp., 0.918 11/15/17   903,939  
  26,158 2,5 Credit Suisse First Boston Mortgage Securities Corp., 1.698%, 6/20/29   766,428  
      Federal Home Loan Mortgage Corp.,  
  7,426 2      Ser. 60, Class HS, 1.438%, 4/25/24   63,787  
  —        Ser. 176, Class M, 1,010.00%, 7/15/21   95  
  —        Ser. 192, Class U, 1,009.033%, 2/15/22   113  
  41 2      Ser. 200, Class R, 108,521.505%, 12/15/22   413  
  2,389        Ser. 204, 6.00%, 5/01/29   515,152  

2

BlackRock Income Trust Inc. (BKT) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
      Interest Only Mortgage-Backed Securities—(cont’d)    
  $      — 2      Ser. 1054, Class I, 478.84%, 3/15/21 $                 402  
  —        Ser. 1056, Class KD, 1,084.50%, 3/15/21   2,690  
  —        Ser. 1057, Class J, 1,008.001%, 3/15/21   5,398  
  1 2      Ser. 1148, Class E, 651.508%, 10/15/21   1,296  
  — 2      Ser. 1179, Class O, 1,009.389%, 11/15/21   330  
  —        Ser. 1221 Class H, 1,006.50%, 3/15/07   136  
  428        Ser. 1706, Class IA, 7.00%, 10/15/23   23,313  
  142        Ser. 1720, Class PK, 7.50%, 1/15/24   9,445  
  5,411        Ser. 1914, Class PC, 0.75%, 12/15/11   65,902  
  2,453 2      Ser. 2002, Class HJ, 3.00%, 10/15/08   19,133  
  1,250 2      Ser. 2296, Class SA, 3.18%, 3/15/16   74,384  
  695 2      Ser. 2444, Class ST, 3.40%, 9/15/29   35,176  
  566        Ser. 2513, Class BI, 5.50%, 12/15/15   22,469  
  1,913        Ser. 2542, Class MX, 5.50%, 5/15/22   305,669  
  580        Ser. 2543, Class IM, 5.00%, 9/15/12   6,771  
  3,821        Ser. 2545, Class NI, 5.50%, 3/15/22   506,538  
  6,900 2      Ser. 2559, Class IO, 0.95%, 8/15/30   38,814  
  6,452        Ser. 2561, Class EW, 5.00%, 9/15/16   726,857  
  13,783        Ser. 2611, Class QI, 5.50%, 9/15/32   2,475,950  
  12,955        Ser. 2633, Class PI, 4.50%, 3/15/12   407,968  
  4,627        Ser. 2653, Class MI, 5.00%, 4/15/26   592,568  
  7,986        Ser. 2658, Class PI, 4.50%, 6/15/13   530,570  
  5,662        Ser. 2672, Class TQ, 5.00%, 3/15/23   418,447  
  6,912        Ser. 2676, Class JI, 5.50%, 8/15/13   209,020  
  3,633        Ser. 2687, Class IL, 5.00%, 9/15/18   573,014  
  15,144        Ser. 2687, Class IQ, 5.50%, 9/15/22   652,262  
  6,533        Ser. 2693, Class IB, 4.50%, 6/15/13   461,319  
  3,636        Ser. 2694, Class LI, 4.50%, 7/15/19   380,857  
  6,793        Ser. 2773, Class OX, 5.00%, 2/15/18   829,267  
  15,188 2      Ser. 2779, Class YS, 2.58%, 1/15/33   978,098  
  20,299 2      Ser. 2780, Class SM, 1.43%, 4/15/34   614,465  
  13,324        Ser. 2786, Class PI, 4.50%, 10/15/10   366,268  
  6,727        Ser. 2825, Class NI, 5.50%, 3/15/30   1,680,405  
  42,909 2      Ser. 2990, Class WR, 2.006%, 6/15/35   2,876,218  
      Federal National Mortgage Assoc.,    
  305        Ser. 5, Class H, 9.00%, 1/25/22   54,299  
  17        Ser. 7, Class 2, 8.50%, 4/01/17   3,371  
  1 2      Ser. 7, Class S, 633.477%, 3/25/21   6,857  
  2 2      Ser. 10, Class S, 612.955%, 5/25/21   18,421  
  1        Ser. 12, Class C, 1,016.898%, 2/25/22   15,200  
  1 2      Ser. 12, Class S, 648.144%, 5/25/21   15,835  
  9,046        Ser. 13, Class IG, 5.00%, 10/25/22   580,183  
  10,667        Ser. 16, Class PI, 5.00%, 11/25/12   429,471  
  1 2      Ser. 17, Class S, 615.422%, 6/25/21   9,186  
  103        Ser. 33, Class PV, 1,078.42%, 10/25/21   29,361  
  2,621 2      Ser. 33, Class SG, 3.569%, 3/25/09   90,183  
  9        Ser. 38, Class N, 1,008.50%, 4/25/21   989  
  —        Ser. 50, Class G, 1,158.628%, 12/25/21   12,145  
  1,022 2      Ser. 50, Class SI, 1.20%, 4/25/23   27,643  
  7,372        Ser. 51, Class IE, 5.50%, 4/25/26   525,444  
  6,044        Ser. 55, Class GI, 5.00%, 7/25/19   851,475  
  850 2      Ser. 60, Class SB, 1.60%, 10/25/22   22,329  
  833        Ser. 62, Class IC, 5.50%, 7/25/15   44,702  
  6,752        Ser. 66, Class CI, 5.00%, 7/25/33   1,366,941  
  3,390 2      Ser. 68, Class SC, .569%, 1/25/24   201,654  
  5,677        Ser. 71, Class EI, 5.50%, 8/25/33   1,084,406  
  1,827        Ser. 82, Class IR, 5.00%, 9/25/12   33,647  
  —        Ser. 84, Class H, 1,100.633%, 8/25/06   10  
  15,777        Ser. 88, Class TI, 4.50%, 11/25/13   760,753  
  31        Ser. 89, Class 2, 8.00%, 6/01/18   6,055  
  41,373 2      Ser. 90, Class JH, 2.17%, 11/25/34   1,845,648

3

BlackRock Income Trust Inc. (BKT) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
      Interest Only Mortgage-Backed Securities—(cont’d)    
  $     17,515        Ser. 90, Class M, 6.00%, 1/25/28 $  2,956,115  
  9        Ser. 94, Class 2, 9.50%, 8/01/21   2,103  
  —        Ser. 99, Class L, 930.00%, 8/25/21   6,344  
  2,568        Ser. 122, Class IA, 4.00%, 9/25/09   34,594  
  3,741        Ser. 122, Class IC, 5.00%, 9/25/18   599,884  
  —        Ser. 123, Class M, 1,009.50%, 10/25/20   1,105  
  43 2      Ser. 136, Class S, 15.557%, 11/25/20   52,212  
  1        Ser. 139, Class PT, 648.35%, 10/25/21   7,947  
  15 2      Ser. 141, Class SA, 16.875%, 8/25/07   1,291  
  3,027 2      Ser. 199, Class SB, 2.969%, 10/25/23   148,217  
  5,712        Ser. 602, Class BI, 5.50%, 10/25/22   860,121  
  865        Ser. W4, 6.50%, 12/25/28   131,931  
  119   First Boston Mortgage Securities Corp., 10.965%, 4/25/17   19,877  
      First Horizon Alternative Mortgage Securities,  
  97,363 2      Ser. FA7, Class 1A7, 0.34%, 10/25/35   669,369  
  247,343 2      Ser. FA9, Class A2, 0.219%, 12/25/35   1,246,376  
  24,130 2 General Motors Acceptance Corp., Commercial Mortgage Securities, Inc., 2.508%, 7/15/27   775,783  
  11,933 2,5 Goldman Sachs Mortgage Securities Corp., 0.995%, 2/19/25   255,364  
      Government National Mortgage Assoc.,      
  2,498        Ser. 39, Class ID, 5.00%, 5/20/33   519,997  
  3,140        Ser. 58, Class IT, 5.50%, 7/20/33   393,993  
  25,202 2      Ser. 89, Classl SA, 1.33%, 10/16/33   916,339  
  98   Kidder Peabody Acceptance Corp., 9.50%, 4/22/18   23,929  
  70,209 2 MLCC Mortgage Investors Inc., 0.741%, 3/25/28   1,228,666  
  2,346   Morgan Stanley Cap. Trust I, 5.00%, 5/25/19   327,191  
  14,384   Small Business Administration, 1.381%, 4/01/15   719  
  120,612 2 Vendee Mortgage Trust, 0.053%, 5/15/29   281,025  
      Total Interest Only Mortgage-Backed Securities   37,765,706  
      Principal Only Mortgage-Backed Securities—6.1%    
      Countrywide Home Loans, Inc.,  
  6,679 7      Ser. 26, Class PO, 4.944%, 8/25/33   5,178,153  
  1,234 7      Ser. J4, Class PO, 5.142%, 6/25/33   986,973  
  1,739 7      Ser. J5, Class PO, 4.911%, 7/25/33   1,321,040  
  1,378 7      Ser. J8, Class PO, 4.787%, 9/25/23   1,061,474  
      Drexel Burnham Lambert, Inc.,    
  40 7      Ser. K, Class 1, 11.00%, 9/23/17   34,431  
  453 7      Ser. V, Class 1, 11.50%, 9/01/18   404,063  
      Federal Home Loan Mortgage Corp.,    
  327 7      Ser. 8, Class A10, 6.737%, 11/15/28   256,599  
  217 7      Ser. 1418, Class M, 7.50% 11/15/22   199,817  
  577 7      Ser. 1571, Class G, 7.50%, 8/15/23   521,752  
  2,849 7      Ser. 1691, Class B, 7.50%, 3/15/24   2,503,353  
  294 7      Ser. 1739, Class B, 7.50%, 2/15/24   259,810  
      Federal National Mortgage Assoc.,    
  407 7      Ser. 2, Class KB, 8.00%, 1/25/23   325,661  
  57 7      Ser. 7, Class J, 10.00%, 2/25/21   46,910  
  1,245 7      Ser. 13, Class PR, 6.50%, 3/25/32   1,007,575  
  154 7      Ser. 51, Class E, 8.00%, 2/25/23   126,857  
  34 7      Ser. 70, Class A, 7.00%, 5/25/23   30,649  
  70 7      Ser. 167, Class D, 8.50%, 10/25/17   65,663  
  63 7      Ser. 203, Class 1, 8.00%, 2/01/23   53,247  
  41 7      Ser. 228, Class 1, 7.00%, 5/01/23   34,541  
  2,352 7      Ser. 249, Class B, 7.50%, 11/25/23   2,001,781  
  340 7      Ser. 273, Class 1, 7.00%, 7/01/26   280,094  
  6,017 7      Ser. 328, Class 1, 6.00%, 11/01/32   4,736,526  
  4,574 7      Ser. 338, Class 1, 5.50%, 6/01/33   3,503,416  
  459 7      Ser. W4, Class PO, 5.985%, 2/25/29   352,839  
  370 7 MASTR Asset Securitization Trust, Ser. 3, Class 4A15, 5.65% 3/25/34   263,079  
  26 7 Structured Mortgage Asset Residential Trust, Ser. 3C, 7.031% 4/25/24   23,854  
      Total Principal Only Mortgage-Backed Securities   25,580,157  

4

BlackRock Income Trust Inc. (BKT) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
    Collateralized Mortgage Obligation Residuals—0.0%    
      Collateralized Mortgage Obligation Trust,    
  $           1        Ser. 40, Class R, 580.50%, 4/01/18 $                    531  
  —        Ser. 42, Class R, 6,000.00%, 10/01/14   10,332  
      Federal Home Loan Mortgage Corp.,    
  — 2      Ser. 19, Class R, 10,417.749%, 3/15/20   2,603  
  — 2      Ser. 75, Class R, 9.50%, 1/15/21   6  
  — 2      Ser. 75, Class RS, 15.874%, 1/15/21   6  
  — 2      Ser. 173, Class R, 9.00%, 11/15/21   31  
  — 2      Ser. 173, Class RS, 9.083%, 11/15/21   31  
  13 6 Painewebber CMO Trust, 13.80%, 9/01/18   —  
      Total Collateralized Mortgage Obligation Residuals   13,540  
      Collateralized Mortgage Obligatons—23.8%    
AAA 8,166   CWALT, Inc., Ser. 28 CB, Class 1A5, 5.50%, 8/25/35   8,155,959  
  — 2 FBC Mortgage Securities Trust 16, 5.28%, 7/01/17   283,265  
      Federal Home Loan Mortgage Corp.,    
  324        Ser. 19, Class F, 8.50%, 3/15/20   324,134  
  728        Ser. 1961 Class H, 6.50%, 5/15/12   741,485  
  8,195        Ser. 2218 Class Z, 8.50%, 3/15/30   9,136,270  
  15,138        Ser. 2461, Class Z, 6.50%, 6/15/32   15,510,187  
  2,475        Ser. 2562 Class PG, 5.00%, 1/15/18   2,456,363  
  948        Ser. 2582, Class TB, 3.50%, 10/15/21   942,657  
  2,050        Ser. 2750, Class TC, 5.25%, 2/15/34   2,013,264  
  3,511        Ser. 2806, Class VC, 6.00%, 12/15/19   3,571,104  
  2,182        Ser. 2927, Class BZ, 5.50%, 2/15/35   2,113,987  
      Federal National Mortgage Assoc.,    
  3,600        Ser. 46, Class LW, 5.00%, 6/25/20   3,569,652  
  3,780        Ser. 47, Class AK, 5.00%, 6/25/20   3,710,637  
  5,474 2      Ser. 59, Class S, 6.004%, 10/25/22   755,375  
  3,326        Ser. 68, Class PC, 5.50%, 7/25/35   3,331,127  
  7,588 2      Ser. 73, Class DS, 5.772%, 8/25/35   6,637,626  
      GSR Mortgage Loan Trust,    
  5,110 2      Ser. 10, Class 2A1, 4.475%, 10/25/33   4,935,837  
  5,014 2      Ser. 13, Class 1A1, 4.505%, 10/25/33   4,824,847  
  7,788 2 Indymac, Inc., 4.931%, 10/25/18   7,778,774  
  42,236 2 MASTR Adjustable Rate Mortgages Trust, 0.977%, 4/25/34   1,071,111  
  1,971   MASTR Alternative Loan Trust, 6.00%, 1/25/19   371,497  
  2,200   MASTR Alternative Loan Trust, 8.00%, 11/25/18   2,296,715  
  8,980   MASTR Asset Securitization Trust, 5.25%, 10/25/14   8,810,590  
  228,000 2 Residential Accredit Loans, Inc., 0.219%, 11/25/35   712,500  
  194,249 2 Sequoia Mortgage Trust, 0.668%, 3/20/35   2,003,195  
      Structured Adjustable Rate Mortgage Loan Trust,    
  7,151 2      Ser. 18, Class 7AX, 5.50%, 9/25/35   1,195,517  
  7,090        Ser. 20, Class 3AX, 5.50%, 10/25/35   1,187,559  
  1,102   Washington Mutual, Zero Coupon, 11/25/35   798,594  
      Total Collateralized Mortgage Obligatons   99,239,828  
      Corporate Bonds—0.9%    
      Financial Institutions—0.9%    
  3,807 2 Structured Asset Receivable Trust, 1.649%, 1/21/10   3,812,871  
      U.S. Government and Agency Securities—43.3%    
      Overseas Private Investment Corp.,    
  299        4.09%, 5/29/12   272,121  
  835        4.30%, 5/29/12   778,257  
  623        4.64%, 5/29/12   589,690  
  352        4.68%, 5/29/12   325,033  
  2,659        4.87%, 5/29/12   2,542,129  
  3,323        5.40%, 5/29/12   3,313,583  
  381        5.46%, 2/15/06   391,087  
  674        5.79%, 5/29/12   689,947  
  464        5.88%, 2/15/06   464,139  
  1,280        5.94%, 5/29/12   1,313,455

5

BlackRock Income Trust Inc. (BKT) (continued)

Principal        
Amount        
Rating1 (000)   Description   Value  
      U.S. Government and Agency Securities—(cont’d)    
  $          364        5.95%, 5/29/12 $           371,349  
  430        6.10%, 5/29/12   443,174  
  520        6.81%, 12/16/06   542,687  
  4,152        6.89%, 5/29/12   4,347,976  
  1,396        6.91%, 5/29/12   1,449,747  
  375        7.35%, 2/15/06   394,708  
  13,000 3 Resolution Funding Corp., 4/15/30   4,063,800  
      Small Business Administration,    
  969        Ser. 20C-1, 7.15%, 3/01/17   1,012,576  
  1,010        Ser. 20E-1, 7.60%, 5/01/16   1,061,607  
  1,384        Ser. 20F-1, 7.55%, 6/01/16   1,455,374  
  960        Ser. 20G-1, 7.70%, 7/01/16   1,012,749  
  1,428        Ser. 20H-1, 7.25%, 8/01/16   1,491,936  
  2,181        Ser. 20K-1, 6.95%, 11/01/16   2,270,428  
  129,000 3 U.S. Treasury Bonds, Zero Coupon, 11/15/24   52,910,253  
      U.S. Treasury Notes,    
  40,000 3      1.50%, 3/31/06   39,812,400  
  2,930 3      2.50%, 5/31/06   2,910,779  
  915        3.625%, 1/15/10   885,976  
  21,000 3      3.75%, 3/31/07   20,796,510  
  19,400        4.00%, 8/31/07   19,239,368  
  14,145 3      4.25%, 11/15/13-8/15/15   13,858,521  
      Total U.S. Government and Agency Securities   181,011,359  
      Total Long-Term Investments (cost $612,106,683)   592,150,514  
      SHORT-TERM INVESTMENTS—1.9%    
      U.S. Government and Agency Zero Coupon Securities—1.9%    
  6,500 8 Federal Home Loan Bank Discount Notes, 4.341%, 2/01/06   6,500,000  
  1,300 8 U.S. Treasury Bill, 4.087%, 2/09/06   1,299,652  
      Total Short-Term Investments (cost $7,799,652)   7,799,652  
      Total investments before borrowed bonds, investments sold short, TBA sale commitments and    
           outstanding options written(cost $619,906,3359)   599,950,166  
      BORROWED BONDS—17.9%    
      U.S. Treasury Notes,    
  13,883 10      4.25%, 2/09/06   13,882,625  
  14,751 10      4.00%, 2/09/06   14,751,000  
  12,120 10      4.125%, 2/09/06   12,120,000  
      U.S. Treasury Bonds,    
  14,853 10      5.375%, 2/15/06   14,853,338  
  19,313 10      6.25%, 2/09/06   19,313,437  
      Total Borrowed Bonds (cost $74,920,400)   74,920,400  
      INVESTMENTS SOLD SHORT—(17.3)%    
      U.S. Treasury Bonds    
  (15,750)        6.25%, 8/15/23   (18,553,028)  
  (12,930)        5.375%, 2/15/31   (14,239,162)  
      U.S. Treasury Notes,    
  (14,900)        4.00%, 2/15/15   (14,313,387)  
  (12,000)        4.125%, 8/15/10   (11,816,280)  
  (13,900)        4.25%, 11/15/14   (13,597,564)  
      Total Investments Sold Short (proceeds $73,151,527)   (72,519,421)  
      TBA SALE COMMITMENTS—(7.0)%    
      Federal National Mortgage Assoc.,    
  (16,000)        TBA, 5.00%, 2/13/36   (15,455,008)  
  (14,000)        TBA, 5.50%, 2/13/36   (13,846,868)  
      Total TBA Sale Commitments (proceeds $29,419,844)   (29,301,876)  

6

BlackRock Income Trust Inc. (BKT) (continued)

Notional        
Amount        
Rating1 (000)   Description   Value  
      OUTSTANDING OPTIONS WRITTEN—(0.6)%    
      Interest Rate Swaps,   
  (14,100)        Trust pays 3-month LIBOR, Trust receives 4.725%, expires 6/13/07, 1.00%, 6/13/07 $       (652,125)  
  (14,100)        Trust pays 4.725%, Trust receives 3-month LIBOR, expires 6/13/07, 4.725%, 6/17/07   (271,284)  
  (5,700)        Trust pays 5.135%, Trust receives 3-month LIBOR, expires 4/21/08, 5.135%, 4/21/08   (220,134)  
  (5,700)        Trust pays 3-month LIBOR%, Trust receives 5.135%, expires 4/21/08, 5.135%, 4/21/08   (219,393)  
  (12,400)        Trust pays 3-month LIBOR, Trust receives 5.67%, expires 1/04/10, 1.00%, 1/04/10   (410,564)  
  (12,400)        Trust pays 5.67%, Trust receives 3-month LIBOR, expires 1/04/10, 5.67%, 1/04/10   (786,656)  
      Total Outstanding Options Written (premium received $2,868,470)   (2,560,156)  
      Total investments net of borrowed bonds, investments sold short, TBA sale commitments and    
           outstanding options written—136.4%   $ 570,489,113  
      Liabilities in excess of other assets (including $161,174,850 in
     reverse repurchase agreements payable)—(36.4)%		  
(152,227,328)
  
      Net Assets—100%   $ 418,261,785  
 
1 Using the higher of Standard & Poor’s, Moody’s Investors Service or Fitch’s rating.  
2 Rate shown is interest rate as of January 31, 2006.  
3 Entire or partial principal amount pledged as collateral for reverse repurchase agreements.  
4 Security, or a portion thereof, pledged as collateral with a value of $10,609,432 on 247 short Eurodollar futures contracts expiring March 2006 to September 2007, 443 short U.S. Treasury Note futures contracts expiring March 2006 and 773 short U.S. Treasury Bond futures contracts expiring March 2006. The notional value of such contracts on January 31, 2006 was ($193,399,734), with an unrealized loss of $8,497.  
5 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, 2006, the Trust held 0.3% of its net assets, with a current market value of $1,147,525, in securities restricted as to resale.  
6 Security is fair valued.  
7 Rate shown is interest rate or effective yield as of January 31, 2006 of the underlying collateral.  
8 Rate shown is the yield to maturity as of January 31, 2006.  
9 Cost for Federal income tax purposes is $623,730,672. The net unrealized depreciation on a tax basis is $23,780,506, consisting of $13,763,739 gross unrealized appreciation and $37,544,245 gross unrealized depreciation.  
10 The interest rate and maturity date shown represent the terms of the borrowed transaction, not the security borrowed. 

KEY TO ABBREVIATIONS

TBA – To Be Announced

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 its principal executive and principal 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 and Principal Financial Officer
Date: March 31, 2006

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: President and Principal Executive Officer
Date: March 31, 2006

By:      /s/ Henry Gabbay                                                                      
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: March 31, 2006