<PAGE> PAGE 1
000 B000000 09/30/96
000 C000000 0000049722
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
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001 A000000 IDS PROGRESSIVE FUND, INC.
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004 000000 N
005 000000 N
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007 C010200 2
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020 A000001 BARRINGTON RESEARCH ASSOC.
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020 C000001 42
020 A000002 WEEDEN & CO. LP
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020 C000002 39
020 A000003 DONALDSON LUFKIN JENRETTE SEC. CORP.
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<PAGE> PAGE 2
020 C000003 34
020 A000004 SALOMON BROTHERS INC.
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020 A000005 AMERICAN ENTERPRISE INV. SERV. INC.
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020 A000006 CLEARY GULL REILAND MCDEVITT
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020 A000007 OPPENHEIMER & CO., INC.
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020 A000009 CYRUS J. LAWRENCE
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<PAGE> PAGE 3
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<PAGE> PAGE 7
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SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
<TABLE> <S> <C>
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<SERIES>
<NUMBER> 01
<NAME> IDS PROGRESSIVE FUND CLASS A
<S> <C>
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<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 351163181
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<OTHER-INCOME> 0
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<DISTRIBUTIONS-OF-INCOME> (5559877)
<DISTRIBUTIONS-OF-GAINS> (15575830)
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<NUMBER-OF-SHARES-REDEEMED> (7139474)
<SHARES-REINVESTED> 2788167
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<ACCUMULATED-NII-PRIOR> 5548736
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</TABLE>
<TABLE> <S> <C>
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<NUMBER> 02
<NAME> IDS PROGRESSIVE FUND CLASS B
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<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> (495315)
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<NUMBER-OF-SHARES-REDEEMED> (261613)
<SHARES-REINVESTED> 86937
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<PER-SHARE-NAV-BEGIN> 7.63
<PER-SHARE-NII> .06
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</TABLE>
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<NAME> IDS PROGRESSIVE FUNDS CLASS Y
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<PERIOD-END> SEP-30-1996
<INVESTMENTS-AT-COST> 351163181
<INVESTMENTS-AT-VALUE> 405055958
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<TOTAL-LIABILITIES> 11600311
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 310430619
<SHARES-COMMON-STOCK> 395622
<SHARES-COMMON-PRIOR> 238188
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 3260204
<DIVIDEND-INCOME> 5788683
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<OTHER-INCOME> 0
<EXPENSES-NET> 3940935
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<APPREC-INCREASE-CURRENT> 16970511
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (19834)
<DISTRIBUTIONS-OF-GAINS> (51524)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 332283
<NUMBER-OF-SHARES-REDEEMED> (184442)
<SHARES-REINVESTED> 9593
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</TABLE>
KPMG Peat Marwick LLP
4200 Norwest Center
90 South Seventh Street
Minneapolis, MN 55402
Independent Auditors' Report on Internal Accounting
Control
The Board of Directors and Shareholders
IDS Progressive Fund, Inc.:
In planning and performing our audit of the
financial statements of IDS Progressive Fund, Inc.
for the year ended September 30, 1996, we
considered their internal control structure,
including procedures for safeguarding securities,
in order to determine our auditing procedures for
the purpose of expressing our opinion on the
financial statements and to comply with the
requirements of Form N-SAR, not to provide
assurance on the internal control structure.
The management of IDS Progressive Fund, Inc. is
responsible for establishing and maintaining a
system of internal accounting control. In
fulfilling this responsibility, estimates and
judgments by management are required to assess the
expected benefits and related costs of internal
control structure policies and procedures. Two of
the objectives of an internal control structure are
to provide management with reasonable, but not
absolute, assurance that assets are safeguarded
against loss from unauthorized use or disposition
and that transactions are executed in accordance
with management's authorization and recorded
properly to permit the preparation of financial
statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal
control structure, errors or irregularities may
occur and not be detected. Also, projection of any
evaluation of the structure to future periods is
subject to the risk that it may become inadequate
because of changes in conditions or that the
effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control structure
would not necessarily disclose all matters in the
internal control structure that might be material
weaknesses under standards established by the
American Institute of Certified Public Accountants.
A material weakness is a condition in which the
design or operation of the specific internal
control structure elements does not reduce to a
relatively low level the risk that errors or
irregularities in amounts that would be material in
relation to the financial statements being audited
may occur and not be detected within a timely
period by employees in the normal course of
performing their assigned functions. However, we
noted no matters involving the internal control
structure, including procedures for safeguarding
securities, that we consider to be a material
weakness as defined above as of September 30, 1996.
This report is intended solely for the information
and use of management and the Securities and
Exchange Commission.
KPMG Peat Marwick LLP
Minneapolis, Minnesota
November 1, 1996
