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SIGNATURE HENRY GABBAY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000832327
<NAME> THE BLACKROCK INCOME TRUST
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1994
<PERIOD-END> OCT-31-1994
<INVESTMENTS-AT-COST> 719,007,965
<INVESTMENTS-AT-VALUE> 658,693,307
<RECEIVABLES> 30,456,544
<ASSETS-OTHER> 359,145
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 689,508,996
<PAYABLE-FOR-SECURITIES> 113,103,349
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 120,754,313
<TOTAL-LIABILITIES> 233,857,662
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 569,706,274
<SHARES-COMMON-STOCK> 62,849,878
<SHARES-COMMON-PRIOR> 62,849,878
<ACCUMULATED-NII-CURRENT> 9,472,981
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (52,769,554)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (70,758,367)
<NET-ASSETS> 455,651,334
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 51,263,386
<OTHER-INCOME> 0
<EXPENSES-NET> 5,458,092
<NET-INVESTMENT-INCOME> 45,805,294
<REALIZED-GAINS-CURRENT> (17,177,241)
<APPREC-INCREASE-CURRENT> (73,508,164)
<NET-CHANGE-FROM-OPS> (44,880,111)
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<PER-SHARE-NAV-BEGIN> 8.75
<PER-SHARE-NII> 0.73
<PER-SHARE-GAIN-APPREC> (1.45)
<PER-SHARE-DIVIDEND> (0.78)
<PER-SHARE-DISTRIBUTIONS> 0.00
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</TABLE>
For the fiscal year ended (a) October 31, 1994
File number (c) 811-5542
SUB - ITEM 77J
Changes in Accounting Principles and Practices
Effective November 1, 1993, the Trust began accounting and
reporting for distributions to shareholders in accordance with
Statement of Position 93-2: Determination, Disclosure, and
Financial Statement Presentation of Income, Capital Gain, and
Return of Capital Distributions by Investment Companies. As a
result of this statement, the Trust changed the classification of
certain distributions to shareholders for financial reporting
purposes. The cumulative effect of adopting the statement was to
reclassify $9,196,068 to undistributed net investment income from
accumulated net realized losses due to the fact that a swap gain
was recorded differently for book and tax purposes. In addition,
the Trust reclassified $1,107 from paid-in capital to undistributed
net investment income. Net investment income, net realized gains
and net assets were not affected by this change.
The Board of Directors of
The BlackRock Income Trust Inc.:
In planning and performing our audit of the financial statements of
The BlackRock Income Trust Inc. for the year ended October 31,
1994, we considered its 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 The BlackRock Income Trust Inc. is responsible
for establishing and maintaining an internal control structure. 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 a 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
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 operations of the
specific internal control structure elements does not reduce to a
relatively low level 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 material weaknesses as defined
above as of October 31, 1994.
This report is intended solely for the information and use of
management, the Board of Directors and the Securities and Exchange
Commission.
Deloitte & Touche LLP
New York, New York
December 19, 1994
