UNITED INCOME INVESTMENT PROGRAMS
485APOS, 1996-07-25
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                                                               File No. 811-2432
                                                                File No. 2-49542

                                 Facing Sheet

                      SECURITIES AND EXCHANGE COMMISSION

                           Washington, D. C.  20549

                       POST-EFFECTIVE AMENDMENT NO. 40

                                      TO

                                   FORM S-6

                 For registration under the Securities Act of
                 1933 of Securities of Unit-Investment Trusts
                          Registered on Form N-8B-2
                          -------------------------


UNITED INCOME INVESTMENT PROGRAMS
- -----------------------------------------------------------------------------
Exact Name of Trust


Waddell & Reed, Inc.
- -----------------------------------------------------------------------------
Name of Depositor


6300 Lamar Avenue, Shawnee Mission, Kansas          66202-4200
- -----------------------------------------------------------------------------
Complete Address of Depositor's Principal Executive Offices


Sharon K. Pappas, P. O. Box 29217, Shawnee Mission, Kansas  66201-9217
- -----------------------------------------------------------------------------
Name and Address of Agent for Service


It is proposed that this filing will become effective


          _____ immediately upon filing pursuant to paragraph (b)
          _____ on (date) pursuant to paragraph (b)
          __X__ 60 days after filing pursuant to paragraph (a)(1)
          _____ on (date) pursuant to paragraph (a)(1)
          _____ 75 days after filing pursuant to paragraph (a)(2)
          _____ on (date) pursuant to paragraph (a)(2) of Rule 485
          _____ this post-effective amendment designates a new effective date
               for a previously filed post-effective amendment
=============================================================================


                  DECLARATION REQUIRED BY RULE 24f-2 (a) (1)

     The issuer has registered an indefinite amount of its securities under the
Securities Act of 1933 pursuant to Rule 24f(a)(1).  Notice for the period ended
May 30, 1996 was filed on July 25, 1996.  Upon effectiveness of this Amendment,
the issuer's Rule 24f-2 election will terminate.

<PAGE>
                                                                   July 25, 1996

                       UNITED INCOME INVESTMENT PROGRAMS
                       6300 Lamar Avenue, P. O. Box 29217
                        Shawnee Mission, KS  66201-9217

The purpose of this Post-Effective Amendment No. 40 to the Registration
Statement for United Income Investment Programs (the "Programs") is to terminate
the Programs' Rule 24f-2 declaration and, accordingly, language regarding such
termination is provided on the facing sheet of this document, as required by
Rule 24f-2(a)(2).

<PAGE>
                                 SIGNATURES

     Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it meets all of the requirements for effectiveness of this Post-
Effective Amendment pursuant to Rule 485(a) under the Securities Act of 1933 and
has duly caused this Post-Effective Amendment to be signed on its behalf by the
undersigned, thereunto duly authorized, and its seal to be hereunto affixed and
attested, all in the City of Overland Park, and State of Kansas, on the 25th day
of July, 1996.


                         UNITED INCOME INVESTMENT PROGRAMS
                                  (Registrant)
                           WADDELL & REED, INC., Sponsor

                           By /s/ Robert L. Hechler*
                           -------------------------
                          Robert L. Hechler, President

ATTEST:

By /s/Sharon K. Pappas
   ----------------------
Sharon K. Pappas, Secretary


     Pursuant to the requirements of the Securities Act of 1933, and/or the
Investment Company Act of 1940, this Post-Effective Amendment to the
Registration Statement has been signed below by the following persons in the
capacities and on the dates indicated.


      Signatures                  Title
      ----------                  -----


/s/Keith A. Tucker*          Chairman of the Board  July 25, 1996
- ---------------------        and Director           ------------------
Keith A. Tucker


                             President, Chief Executive
                             Officer, Treasurer,
/s/Robert L. Hechler*        Principal Financial    July 25, 1996
- ---------------------        Officer                ------------------
Robert L. Hechler            and Director


/s/Henry J. Herrmann*
- ---------------------        Director               July 25, 1996
Henry J. Herrmann                                   ------------------



By:/s/Robert L. Hechler
- -----------------------
Robert L. Hechler
Attorney-in-Fact


                               POWER OF ATTORNEY

     KNOW ALL MEN BY THESE PRESENTS, That the undersigned, WADDELL & REED, INC.
(hereinafter called the "Corporation"), and certain directors and officers of
the Corporation, do hereby constitute and appoint ROBERT L. HECHLER, KEITH A.
TUCKER and SHARON K. PAPPAS, and each of them individually, their true and
lawful attorneys and agents to take any and all action and execute any and all
instruments which said attorneys and agents may deem necessary or advisable to
enable the Corporation to comply with the Securities Act of 1933, as amended,
and any rules, regulations, orders or other requirements of the United States
Securities and Exchange Commission thereunder, in connection with the
registration under the Securities Act of 1933, as amended, of any periodic
payment plan certificates (as defined in the Investment Company Act of 1940, as
amended) issued by any unit investment trust (as so defined) for which the
Corporation acts as sponsor and/or depositor, including specifically, but
without limitation of the foregoing, power and authority to sign the name of the
Corporation in its behalf and to affix its corporate seal and to sign the names
of each of such directors and officers in his behalf as such director or officer
has indicated below opposite his signature hereto, to any Registration Statement
or amendment or supplement (including post-effective amendments) to any
Registration Statement filed with the Securities and Exchange Commission under
the Securities Act of 1933, as amended, and to any instruments or documents
filed or to be filed as a part of or in connection with such Registration
Statement; and each of the undersigned hereby ratifies and confirms all that
said attorneys and agents shall do or cause to be done by virtue hereof.

     IN WITNESS WHEREOF, the Corporation has caused these presents to be signed
by its President and its corporate seal to be affixed hereto and the same
attested by its Secretary, each thereunto duly authorized by its Board of
Directors, and each of the undersigned has hereunto set his hand and seal as of
the day set opposite his name.

Date:  July 18, 1996                         WADDELL & REED, INC.
  (Corporate Seal)

                                   By /s/Robert L. Hechler
                                   ------------------------
                                   Robert L. Hechler, President


ATTEST:



/s/ Sharon K. Pappas
- --------------------
Sharon K. Pappas
Secretary



/s/Keith A. Tucker       Chairman of the Board         July 18, 1996
- ------------------                                     -----------------
Keith A. Tucker


/s/Robert L. Hechler     President, Chief Executive    July 18, 1996
- --------------------     Officer, Treasurer, Principal -----------------
Robert L. Hechler        Financial Officer and Director


/s/Henry J. Herrmann     Director                      July 18, 1996
- --------------------                                   -----------------
Henry J. Herrmann



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