<PAGE> PAGE 1
000 A000000 06/30/95
000 C000000 0000831120
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 J000000 A
001 A000000 PIONEER AMERICA INCOME TRUST
001 B000000 811-5516
001 C000000 6177427825
002 A000000 60 STATE STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
002 D020000 1820
003 000000 N
004 000000 N
005 000000 N
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007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
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007 C011000 10
008 A000001 PIONEERING MANAGEMENT CORPORATION
008 B000001 A
008 C000001 801-8255
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
008 D040001 1820
011 A000001 PIONEER FUNDS DISTRIBUTOR, INC.
011 B000001 8-41256
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
011 C040001 1820
012 A000001 PIONEERING SERVICES CORPORATION
012 B000001 84-1359
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
<PAGE> PAGE 2
012 C040001 1820
013 A000001 ARTHUR ANDERSEN LLP
013 B010001 BOSTON
013 B020001 MA
013 B030001 02110
013 B040001 2604
015 A000001 BROWN BROTHERS HARRIMAN & CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02105
015 C040001 1882
015 E010001 X
015 A000002 NATIONAL AUSTRALIA BANK
015 B000002 S
015 C010002 MELBOURNE 3000
015 D010002 AUSTRALIA
015 D020002 3000
015 E040002 X
015 A000003 CREDITANSTALT BANK VEREIN
015 B000003 S
015 C010003 VIENNA A-1090
015 D010003 AUSTRIA
015 D020003 A-1090
015 E040003 X
015 A000004 MORGAN GUARANTY TRUST CO., BRUSSELS
015 B000004 S
015 C010004 BRUSSELS 1040
015 D010004 BELGIUM
015 D020004 1040
015 E040004 X
015 A000005 DEN DANSKE BANK, COPENHAGEN
015 B000005 S
015 C010005 COPENHAGEN
015 D010005 DENMARK
015 E040005 X
015 A000006 UNION BANK OF FINLAND
015 B000006 S
015 C010006 HELSINKI
015 D010006 FINLAND
015 E040006 X
015 A000007 MORGAN GUARANTY TRUST CO., PARIS
015 B000007 S
015 C010007 PARIS 75001
015 D010007 FRANCE
015 D020007 75001
015 E040007 X
015 A000008 MORGAN GUARANTY TRUST CO., OF NEW YORK
015 B000008 S
015 C010008 FRANKFURT D-6000
015 D010008 GERMANY
<PAGE> PAGE 3
015 D020008 D-6000
015 E040008 X
015 A000009 CHASE MANHATTAN BANK, N.A.
015 B000009 S
015 C010009 HONG KONG
015 D010009 HONG KONG
015 E040009 X
015 A000010 BANCA COMMERCIALE ITALIANA, MILAN
015 B000010 S
015 C010010 20121 MILAN
015 D010010 ITALY
015 D020010 20121
015 E040010 X
015 A000011 THE SUMITOMO TRUST & BANKING CO., LTD.
015 B000011 S
015 C010011 TOKYO 100
015 D010011 JAPAN
015 D020011 100
015 E040011 X
015 A000012 CITIBANK, N.A.
015 B000012 S
015 C010012 SEOUL 110
015 D010012 KOREA
015 D020012 110
015 E040012 X
015 A000013 HONG KONG & SHANGHAI BANKING CORP.
015 B000013 S
015 C010013 KUALA LAMPUR 50100
015 D010013 MALAYSIA
015 D020013 50100
015 E040013 X
015 A000014 CITIBANK, N.A.
015 B000014 S
015 C010014 MEXICO CITY 06695
015 D010014 MEXICO
015 D020014 06695
015 E040014 X
015 A000015 ABN/AMRO BANK
015 B000015 S
015 C010015 BREDA
015 D010015 NETHERLANDS
015 E040015 X
015 A000016 DEN NORSKE CREDITBANK, OSLO
015 B000016 S
015 C010016 SENTRUM N-0107
015 D010016 NORWAY
015 D020016 N-0107
015 E040016 X
015 A000017 CITIBANK,N.A.
015 B000017 S
015 C010017 MAKATI, MANILA
<PAGE> PAGE 4
015 D010017 PHILIPPINES
015 E040017 X
015 A000018 BANCO ESPIRITO SANTO COMMERCIAL DE LISBOA
015 B000018 S
015 C010018 1200 LISBON
015 D010018 PORTUGAL
015 D020018 1200
015 E040018 X
015 A000019 CHASE MANHATTAN BANK
015 B000019 S
015 C010019 0104 SINGAPORE
015 D010019 SINGAPORE
015 D020019 0104
015 E040019 X
015 A000020 BANCO DE SANTANDER, MADRID
015 B000020 S
015 C010020 MADRID 28022
015 D010020 SPAIN
015 D020020 28022
015 E040020 X
015 A000021 SKANDINAVISKA ENSKILDA BANKEN,
015 B000021 S
015 C010021 STOCKHOLM, S-10640
015 D010021 SWEDEN
015 D020021 S-10640
015 E040021 X
015 A000022 MORGAN GUARANTY TRUST CO. OF ZURICH
015 B000022 S
015 C010022 ZURICH
015 D010022 SWITZERLAND
015 E040022 X
015 A000023 STANDARD CHARTERED BANK, TAIPEI BRANCH
015 B000023 S
015 C010023 TAIPEI
015 D010023 TAIWAN, R.O.C.
015 E040023 X
015 A000024 HONGKONG & SHANGAI BANKING CORP
015 B000024 S
015 C010024 BANGKOK 10500
015 D010024 THAILAND
015 D020024 10500
015 E040024 X
015 A000025 MORGAN GUARANTY TRUST CO., OF LONDON
015 B000025 S
015 C010025 LONDON EC4YOJT
015 D010025 UNITED KINGDOM
015 D020025 EC4YOJT
015 E040025 X
018 000000 Y
019 A000000 Y
019 B000000 24
<PAGE> PAGE 5
019 C000000 PIONEERFDS
020 C000001 0
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022 A000001 BROWN BROTHERS HARRIMAN & CO.
022 B000001 13-4973745
022 C000001 124600
022 D000001 0
022 A000002 UBS SECURITIES
022 B000002 00-0000000
022 C000002 50526
022 D000002 20314
022 A000003 MERRILL LYNCH
022 B000003 13-5674085
022 C000003 8559
022 D000003 13319
022 A000004 HONG KONG SHAN
022 B000004 00-0000000
022 C000004 0
022 D000004 15710
022 A000005 LEHMAN BROTHERS
022 B000005 13-2518466
022 C000005 5010
022 D000005 5013
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022 B000006 13-3046258
022 C000006 0
022 D000006 8404
022 A000007 FIRST CHICAGO
022 B000007 36-3595942
022 C000007 0
022 D000007 7358
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022 B000008 13-5515160
022 C000008 2663
022 D000008 4675
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022 B000009 00-0000000
022 C000009 5900
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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SIGNATURE WILLIAM H. KEOUGH
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831120
<NAME> PIONEER AMERICA INCOME TRUST
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 162508424
<INVESTMENTS-AT-VALUE> 165485149
<RECEIVABLES> 2462252
<ASSETS-OTHER> 6052
<OTHER-ITEMS-ASSETS> 37727
<TOTAL-ASSETS> 167991180
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1093356
<TOTAL-LIABILITIES> 1093356
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 170182685
<SHARES-COMMON-STOCK> 16753481<F1>
<SHARES-COMMON-PRIOR> 17437503<F2>
<ACCUMULATED-NII-CURRENT> 55506
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (6316326)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2975959
<NET-ASSETS> 166897824
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6576775
<OTHER-INCOME> 0
<EXPENSES-NET> 822637
<NET-INVESTMENT-INCOME> 5754138
<REALIZED-GAINS-CURRENT> (902422)
<APPREC-INCREASE-CURRENT> 10191809
<NET-CHANGE-FROM-OPS> 15043505
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5751341<F3>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1471753<F4>
<NUMBER-OF-SHARES-REDEEMED> 2613550<F5>
<SHARES-REINVESTED> 457775<F6>
<NET-CHANGE-IN-ASSETS> 2869326
<ACCUMULATED-NII-PRIOR> 52709
<ACCUMULATED-GAINS-PRIOR> (5413884)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 403568
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1033462
<AVERAGE-NET-ASSETS> 162764504<F7>
<PER-SHARE-NAV-BEGIN> 9.41<F8>
<PER-SHARE-NII> 0.34<F9>
<PER-SHARE-GAIN-APPREC> 0.55<F10>
<PER-SHARE-DIVIDEND> 0.34<F11>
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.96<F12>
<EXPENSE-RATIO> 1.00<F13>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>shares-common-stock per class:
class a - 16394790
class b - 358691
<F2>shares-common-prior per class:
class a - 17206644
class b - 230859
<F3>distributions-of-income per class:
class a - 5669686
class b - 81655
<F4>number-of-shares-sold per class:
class a - 1213813
class b - 257940
<F5>number-of-shares-redeemed per class:
class a - 2477261
class b - 136289
<F6>shares-reinvested per class:
class a - 451594
class b - 6181
<F8>represents per-share-nav-begin for class a shares; per-share-nav-begin for
class b shares is $9.40.
<F7>average-net-assets per class:
class a - 160185154
class b - 2579350
<F9>represents per-share-nii for class a shares; per-share-nii for class b shares
is $0.31.
<F10>represents per-share-gain-apprec for class a shares; per-share-gain-apprec for
class b shares is $0.54.
<F11>represents per-share-dividend for class a shares; per-share-dividend for class
b shares is $0.31.
<F12>represents per-share-nav-end for class a shares; per-share-nav-end for class b
shares is $9.94.
<F13>represenets expense-ratio for class a for class a shares; expense ratio for
class b shares is 1.73.
</FN>
</TABLE>
