LEGG MASON INCOME TRUST INC
NSAR-A, 1997-08-25
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<PAGE>      PAGE  1
000 A000000 06/30/97
000 C000000 810868
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 LEGG MASON INCOME TRUST, INC.
001 B000000 811-5029
001 C000000 4105390000
002 A000000 111 SOUTH CALVERT STREET, P.O. BOX 1476
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21203
002 D020000 1476
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
022 A000001 MORGAN (J.P.) SECURITIES INC.
022 B000001 13-3224016
022 C000001   7317810
022 D000001    178034
022 A000002 LEHMAN BROTHERS, INC.
022 B000002 13-2518466
022 C000002    347394
022 D000002     40813
022 A000003 PAINE WEBBER INCORPORATED
022 B000003 13-2638166
022 C000003    297621
022 D000003     46130
022 A000004 MERRILL LYNCH, PIERCE FENNER & SMITH INC.
022 B000004 13-5674085
022 C000004    252095
022 D000004     30560
022 A000005 GOLDMAN SACHS & CO.
022 B000005 13-5108880
022 C000005    151708
022 D000005     47966
022 A000006 CS FIRST BOSTON COMPANY
022 B000006 13-5659485
022 C000006     98037
022 D000006     70886
022 A000007 DEUTSCHE BANK SECURITIES CORPORATION
022 B000007 13-5639495
022 C000007     80538
022 D000007     41328
<PAGE>      PAGE  2
022 A000008 BANKERS TRUST COMPANY
022 B000008 13-4941247
022 C000008     50248
022 D000008     53742
022 A000009 BEAR, STEARNS & CO. INC.
022 B000009 13-3299429
022 C000009     41078
022 D000009     23949
022 A000010 DEAN WITTER REYNOLDS INC.
022 B000010 94-1671384
022 C000010     59296
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023 D000000     647656
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<PAGE>      PAGE  4
071 C000300         0
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062 A000400 Y
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<PAGE>      PAGE  5
062 P000400  67.8
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075 B000400   266683
SIGNATURE   MARIE K. KARPINSKI                           
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000810868
<NAME> LEGG MASON INCOME TRUST, INC.
<SERIES>
   <NUMBER> 011
   <NAME> US GOVERNMENT INTERMEDIATE PORTFOLIO-PRIMARY SHARES
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                          289,955
<INVESTMENTS-AT-VALUE>                         290,339
<RECEIVABLES>                                    3,348
<ASSETS-OTHER>                                       8
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 293,695
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                           27,834
<SHARES-COMMON-PRIOR>                           28,511
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<ACCUMULATED-NET-GAINS>                       (11,978)
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                   292,386
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               10,272
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   1,447
<NET-INVESTMENT-INCOME>                          8,825
<REALIZED-GAINS-CURRENT>                         (728)
<APPREC-INCREASE-CURRENT>                      (1,096)
<NET-CHANGE-FROM-OPS>                            7,001
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        8,593
<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-SOLD>                          2,828
<NUMBER-OF-SHARES-REDEEMED>                    (4,188)
<SHARES-REINVESTED>                                683
<NET-CHANGE-IN-ASSETS>                         (9,542)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (11,250)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              807
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  1,791
<AVERAGE-NET-ASSETS>                           288,741
<PER-SHARE-NAV-BEGIN>                            10.31
<PER-SHARE-NII>                                    .28
<PER-SHARE-GAIN-APPREC>                          (.06)
<PER-SHARE-DIVIDEND>                             (.28)
<PER-SHARE-DISTRIBUTIONS>                            0
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<PER-SHARE-NAV-END>                              10.25
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000810868
<NAME> LEGG MASON INCOME TRUST, INC.
<SERIES>
   <NUMBER> 012
   <NAME> US GOVERNMENT INTERMEDIATE PORTFOLIO-NAVIGATOR SHARES
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                          289,955
<INVESTMENTS-AT-VALUE>                         290,339
<RECEIVABLES>                                    3,348
<ASSETS-OTHER>                                       8
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 293,695
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,309
<TOTAL-LIABILITIES>                              1,309
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       303,930
<SHARES-COMMON-STOCK>                              704
<SHARES-COMMON-PRIOR>                              784
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (11,978)
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                   292,386
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               10,272
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<EXPENSES-NET>                                   1,447
<NET-INVESTMENT-INCOME>                          8,825
<REALIZED-GAINS-CURRENT>                         (728)
<APPREC-INCREASE-CURRENT>                      (1,096)
<NET-CHANGE-FROM-OPS>                            7,001
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (232)
<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-SOLD>                            361
<NUMBER-OF-SHARES-REDEEMED>                      (461)
<SHARES-REINVESTED>                                 20
<NET-CHANGE-IN-ASSETS>                         (9,542)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (11,250)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  1,791
<AVERAGE-NET-ASSETS>                             7,132
<PER-SHARE-NAV-BEGIN>                            10.31
<PER-SHARE-NII>                                    .30
<PER-SHARE-GAIN-APPREC>                          (.06)
<PER-SHARE-DIVIDEND>                             (.30)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                             10.25
<PER-SHARE-NAV-END>                                .44
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000810868
<NAME> LEGG MASON INCOME TRUST, INC.
<SERIES>
   <NUMBER> 021
   <NAME> INVESTMENT GRADE INCOME PORTFOLIO-PRIMARY SHARES
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                          104,014
<INVESTMENTS-AT-VALUE>                         105,158
<RECEIVABLES>                                    2,082
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
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<PAYABLE-FOR-SECURITIES>                         7,137
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          388
<TOTAL-LIABILITIES>                              7,525
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       100,445
<SHARES-COMMON-STOCK>                            9,706
<SHARES-COMMON-PRIOR>                            8,992
<ACCUMULATED-NII-CURRENT>                           43
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (1,930)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         1,157
<NET-ASSETS>                                    99,715
<DIVIDEND-INCOME>                                  201
<INTEREST-INCOME>                                3,302
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     470
<NET-INVESTMENT-INCOME>                          3,033
<REALIZED-GAINS-CURRENT>                            32
<APPREC-INCREASE-CURRENT>                          236
<NET-CHANGE-FROM-OPS>                              268
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (3,024)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          1,680
<NUMBER-OF-SHARES-REDEEMED>                    (1,207)
<SHARES-REINVESTED>                                241
<NET-CHANGE-IN-ASSETS>                           7,544
<ACCUMULATED-NII-PRIOR>                             53
<ACCUMULATED-GAINS-PRIOR>                      (1,962)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    665
<AVERAGE-NET-ASSETS>                            94,635
<PER-SHARE-NAV-BEGIN>                            10.22
<PER-SHARE-NII>                                    .30
<PER-SHARE-GAIN-APPREC>                            .03
<PER-SHARE-DIVIDEND>                             (.30)
<PER-SHARE-DISTRIBUTIONS>                            0
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<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000810868
<NAME> LEGG MASON INCOME TRUST, INC.
<SERIES>
   <NUMBER> 022
   <NAME> INVESTMENT GRADE INCOME PORTFOLIO-NAVIGATOR SHARES
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                          104,014
<INVESTMENTS-AT-VALUE>                         105,158
<RECEIVABLES>                                    2,082
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 107,240
<PAYABLE-FOR-SECURITIES>                         7,137
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                              7,525
<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                               24
<SHARES-COMMON-PRIOR>                               24
<ACCUMULATED-NII-CURRENT>                           43
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (1,930)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         1,157
<NET-ASSETS>                                    99,715
<DIVIDEND-INCOME>                                  201
<INTEREST-INCOME>                                3,302
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     470
<NET-INVESTMENT-INCOME>                          3,033
<REALIZED-GAINS-CURRENT>                            32
<APPREC-INCREASE-CURRENT>                          236
<NET-CHANGE-FROM-OPS>                              268
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          (9)
<DISTRIBUTIONS-OF-GAINS>                             0
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<NET-CHANGE-IN-ASSETS>                           7,544
<ACCUMULATED-NII-PRIOR>                             53
<ACCUMULATED-GAINS-PRIOR>                      (1,962)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<PER-SHARE-NAV-BEGIN>                            10.22
<PER-SHARE-NII>                                    .33
<PER-SHARE-GAIN-APPREC>                            .03
<PER-SHARE-DIVIDEND>                             (.33)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.25
<EXPENSE-RATIO>                                    .43
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000810868
<NAME> LEGG MASON INCOME TRUST, INC.
<SERIES>
   <NUMBER> 3
   <NAME> U.S. GOVERNMENT MONEY MARKET PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                          333,607
<INVESTMENTS-AT-VALUE>                         333,607
<RECEIVABLES>                                    5,843
<ASSETS-OTHER>                                     248
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 339,698
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        6,967
<TOTAL-LIABILITIES>                              6,967
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                          332,748
<SHARES-COMMON-PRIOR>                          325,229
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                   332,731
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                8,883
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   1,244
<NET-INVESTMENT-INCOME>                          7,639
<REALIZED-GAINS-CURRENT>                             2
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<NET-CHANGE-FROM-OPS>                            7,641
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (7,639)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        654,623
<NUMBER-OF-SHARES-REDEEMED>                  (653,826)
<SHARES-REINVESTED>                              6,722
<NET-CHANGE-IN-ASSETS>                           7,521
<ACCUMULATED-NII-PRIOR>                              0
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<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  1,244
<AVERAGE-NET-ASSETS>                           328,342
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                             (.02)
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<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .76
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000810868
<NAME> LEGG MASON INCOME TRUST, INC.
<SERIES>
   <NUMBER> 4
   <NAME> HIGH YIELD PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                          279,000
<INVESTMENTS-AT-VALUE>                         296,225
<RECEIVABLES>                                    6,954
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                             1,180
<TOTAL-ASSETS>                                 304,359
<PAYABLE-FOR-SECURITIES>                         7,000
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          546
<TOTAL-LIABILITIES>                              7,546
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       280,103
<SHARES-COMMON-STOCK>                           18,755
<SHARES-COMMON-PRIOR>                           15,231
<ACCUMULATED-NII-CURRENT>                        1,273
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (1,788)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        17,225
<NET-ASSETS>                                   296,813
<DIVIDEND-INCOME>                                  329
<INTEREST-INCOME>                               12,906
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   1,766
<NET-INVESTMENT-INCOME>                         11,469
<REALIZED-GAINS-CURRENT>                           359
<APPREC-INCREASE-CURRENT>                        6,046
<NET-CHANGE-FROM-OPS>                           17,874
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (10,196)
<DISTRIBUTIONS-OF-GAINS>                             0
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