<PAGE> PAGE 1
000 A000000 07/31/96
000 C000000 0000854669
000 D000000 N
000 E000000 F
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 IDS MARKET ADVANTAGE SERIES INC.
001 B000000 811-5897
001 C000000 6126712772
002 A000000 IDS TOWER 10
002 B000000 MINNEAPOLIS
002 C000000 MN
002 D010000 55440
002 D020000 0010
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
014 A00AA01 AMERICAN EXPRESS FINANCIAL CORPORATION
014 B00AA01 8-31250
014 A00AA02 AMERICAN EXPRESS FINANCIAL ADVISORS INC.
014 B00AA02 8-16791
014 A00AA03 IDS LIFE INSURANCE COMPANY
014 B00AA03 8-14124
014 A00AA04 IDS SECURITIES CORPORATION
014 B00AA04 8-12550
014 A00AA05 AMERICAN EXPRESS SERVICE CORPORATION
014 B00AA05 8-27456
014 A00AA06 AMERICAN ENTERPRISE INVESTMENT SERVICES INC.
014 B00AA06 8-42582
014 A00AA07 DELETE
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 41
019 C00AA00 IDSMUTFDGR
020 A000001 GOLDMAN SACHS & CO.
020 B000001 13-5108880
020 C000001 132
020 A000002 MORGAN STANLEY & CO., INC.
020 B000002 13-2655998
020 C000002 131
020 A000003 SALOMON BROTHERS INC.
020 B000003 13-3082694
020 C000003 36
020 A000004 WEEDON & CO. LP
020 B000004 13-3364318
<PAGE> PAGE 2
020 C000004 28
020 A000005 PAINEWEBBER INC.
020 B000005 13-2638166
020 C000005 15
020 A000006 SHAW (D.E.) & CO., LP
020 B000006 N/A
020 C000006 9
020 A000007 BEAR STEARNS & CO.
020 B000007 13-3299429
020 C000007 9
020 A000008 CAPITAL INSTITUTIONAL SERVICES
020 B000008 75-1565705
020 C000008 8
020 A000009 MERRILL LYNCH & CO., INC.
020 B000009 13-5674085
020 C000009 7
020 A000010 GRUNTAL & COMPANY
020 B000010 13-3179859
020 C000010 6
021 000000 388
022 A000001 MERRILL LYNCH & CO., INC.
022 B000001 13-5674085
022 C000001 67811
022 D000001 42534
022 A000002 LEHMAN COMMERCIAL PAPER INC.
022 B000002 13-2501865
022 C000002 51432
022 D000002 49111
022 A000003 MORGAN STANLEY & CO., INC.
022 B000003 13-2655998
022 C000003 54883
022 D000003 18994
022 A000004 GOLDMAN SACHS & CO.
022 B000004 13-5108880
022 C000004 56528
022 D000004 15860
022 A000005 NATIONSBANK
022 B000005 75-0520130
022 C000005 38786
022 D000005 22371
022 A000006 FIRST CHICAGO CAPITAL MARKETS
022 B000006 36-3595942
022 C000006 22278
022 D000006 12150
022 A000007 BANK OF AMERICA
022 B000007 94-1687655
022 C000007 13544
022 D000007 0
022 A000008 BANKERS TRUST
022 B000008 13-4941247
022 C000008 7464
<PAGE> PAGE 3
022 D000008 4093
022 A000009 CS FIRST BOSTON GROUP
022 B000009 13-5659485
022 C000009 6354
022 D000009 598
022 A000010 MORGAN GUARANTY
022 B000010 13-3224016
022 C000010 4377
022 D000010 2391
023 C000000 335644
023 D000000 177276
025 A00AA01 DEAN WITTER REYNOLDS INC.
025 B00AA01 94-1671384
025 C00AA01 E
025 D00AA01 1043
025 A00AA02 FIRST CHICAGO
025 B00AA02 36-3595942
025 C00AA02 E
025 D00AA02 3335
025 A00AA03 NATIONSBANK
025 B00AA03 75-0520130
025 C00AA03 E
025 D00AA03 19348
025 A00AA04 DELETE
025 D00AA04 0
025 A00AA05 DELETE
025 D00AA05 0
025 A00AA06 DELETE
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
028 A01AA00 31307
028 A02AA00 0
028 A03AA00 0
028 A04AA00 6913
028 B01AA00 39003
028 B02AA00 1059
028 B03AA00 0
028 B04AA00 8819
028 C01AA00 47796
028 C02AA00 1
028 C03AA00 0
028 C04AA00 6418
028 D01AA00 49262
028 D02AA00 0
028 D03AA00 0
028 D04AA00 6568
028 E01AA00 45638
028 E02AA00 1218
028 E03AA00 0
028 E04AA00 5246
<PAGE> PAGE 4
028 F01AA00 62122
028 F02AA00 0
028 F03AA00 0
028 F04AA00 7574
028 G01AA00 275128
028 G02AA00 2278
028 G03AA00 0
028 G04AA00 41538
028 H00AA00 54643
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 250000
048 A02AA00 0.440
048 B01AA00 250000
048 B02AA00 0.415
048 C01AA00 250000
048 C02AA00 0.390
048 D01AA00 250000
048 D02AA00 0.365
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 100000
048 K02AA00 0.340
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
<PAGE> PAGE 5
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
071 A00AA00 408992
071 B00AA00 199863
071 C00AA00 406040
071 D00AA00 49
072 A00AA00 6
072 B00AA00 602
072 C00AA00 4036
072 D00AA00 0
072 E00AA00 0
072 F00AA00 915
072 G00AA00 81
072 H00AA00 1
072 I00AA00 369
072 J00AA00 25
072 K00AA00 22
072 L00AA00 29
072 M00AA00 4
072 N00AA00 101
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 0
072 R00AA00 10
072 S00AA00 0
072 T00AA00 298
072 U00AA00 0
072 V00AA00 0
072 W00AA00 347
072 X00AA00 2202
072 Y00AA00 7
<PAGE> PAGE 6
072 Z00AA00 2443
072AA00AA00 16436
072BB00AA00 0
072CC01AA00 0
072CC02AA00 15377
072DD01AA00 2321
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.0000
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 2014
074 B00AA00 0
074 C00AA00 35150
074 D00AA00 0
074 E00AA00 0
074 F00AA00 519500
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 1324
074 K00AA00 0
074 L00AA00 579
074 M00AA00 0
074 N00AA00 558567
074 O00AA00 4760
074 P00AA00 14
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 90
074 S00AA00 0
074 T00AA00 553703
074 U01AA00 71622
074 U02AA00 0
074 V01AA00 0.00
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 63587
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 454547
076 00AA00 0.00
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
<PAGE> PAGE 7
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
029 000100 Y
030 A000100 2551
030 B000100 5.00
030 C000100 0.50
031 A000100 827
031 B000100 0
032 000100 0
033 000100 1724
037 000100 N
038 000100 0
039 000100 N
040 000100 N
041 000100 N
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 0
044 000100 0
063 A000100 0
063 B000100 0.0
064 A000100 N
064 B000100 N
080 C000100 0
081 B000100 0
082 B000100 0
083 B000100 0
084 B000100 0
034 000200 Y
035 000200 25
036 A000200 N
036 B000200 0
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
<PAGE> PAGE 8
042 F000200 0
042 G000200 0
042 H000200 100
043 000200 298
044 000200 0
037 000300 N
038 000300 0
039 000300 N
040 000300 N
041 000300 N
SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> IDS MARKET ADVANTAGE SERIES INC. CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 528331605
<INVESTMENTS-AT-VALUE> 554649622
<RECEIVABLES> 1903408
<ASSETS-OTHER> 2014079
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 558567109
<PAYABLE-FOR-SECURITIES> 4759855
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 104742
<TOTAL-LIABILITIES> 4864597
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 497623291
<SHARES-COMMON-STOCK> 50263373
<SHARES-COMMON-PRIOR> 32495615
<ACCUMULATED-NII-CURRENT> 405976
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 29034703
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 26638542
<NET-ASSETS> 388950369
<DIVIDEND-INCOME> 4035947
<INTEREST-INCOME> 602267
<OTHER-INCOME> 0
<EXPENSES-NET> (2194879)
<NET-INVESTMENT-INCOME> 2443335
<REALIZED-GAINS-CURRENT> 16435505
<APPREC-INCREASE-CURRENT> (15376706)
<NET-CHANGE-FROM-OPS> 3502134
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1869457)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 21783906
<NUMBER-OF-SHARES-REDEEMED> (4246801)
<SHARES-REINVESTED> 230653
<NET-CHANGE-IN-ASSETS> 237049207
<ACCUMULATED-NII-PRIOR> 3476327
<ACCUMULATED-GAINS-PRIOR> 30488353
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 915151
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2194879
<AVERAGE-NET-ASSETS> 316762823
<PER-SHARE-NAV-BEGIN> 7.62
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> .13
<PER-SHARE-DIVIDEND> (.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.74
<EXPENSE-RATIO> .90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> IDS MARKET ADVANTAGE SERIES INC. CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 528331605
<INVESTMENTS-AT-VALUE> 554649622
<RECEIVABLES> 1903408
<ASSETS-OTHER> 2014079
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 558567109
<PAYABLE-FOR-SECURITIES> 4759855
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 104742
<TOTAL-LIABILITIES> 4864597
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 497623291
<SHARES-COMMON-STOCK> 16449167
<SHARES-COMMON-PRIOR> 5475124
<ACCUMULATED-NII-CURRENT> 405976
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 29034703
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 26638542
<NET-ASSETS> 126752823
<DIVIDEND-INCOME> 4035947
<INTEREST-INCOME> 602267
<OTHER-INCOME> 0
<EXPENSES-NET> (2194879)
<NET-INVESTMENT-INCOME> 2443335
<REALIZED-GAINS-CURRENT> 16435505
<APPREC-INCREASE-CURRENT> (15376706)
<NET-CHANGE-FROM-OPS> 3502134
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (247630)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11373279
<NUMBER-OF-SHARES-REDEEMED> (430203)
<SHARES-REINVESTED> 30967
<NET-CHANGE-IN-ASSETS> 237049207
<ACCUMULATED-NII-PRIOR> 3476327
<ACCUMULATED-GAINS-PRIOR> 30488353
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 915151
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2194879
<AVERAGE-NET-ASSETS> 80003136
<PER-SHARE-NAV-BEGIN> 7.59
<PER-SHARE-NII> .01
<PER-SHARE-GAIN-APPREC> .13
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.71
<EXPENSE-RATIO> 1.67
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> IDS MARKET ADVANTAGE SERIES INC. CLASS Y
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-1997
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 528331605
<INVESTMENTS-AT-VALUE> 554649622
<RECEIVABLES> 1903408
<ASSETS-OTHER> 2014079
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 558567109
<PAYABLE-FOR-SECURITIES> 4759855
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 104742
<TOTAL-LIABILITIES> 4864597
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 497623291
<SHARES-COMMON-STOCK> 4909138
<SHARES-COMMON-PRIOR> 3624527
<ACCUMULATED-NII-CURRENT> 405976
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 29034703
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 26638542
<NET-ASSETS> 37999320
<DIVIDEND-INCOME> 4035947
<INTEREST-INCOME> 602267
<OTHER-INCOME> 0
<EXPENSES-NET> (2194879)
<NET-INVESTMENT-INCOME> 2443335
<REALIZED-GAINS-CURRENT> 16435505
<APPREC-INCREASE-CURRENT> (15376706)
<NET-CHANGE-FROM-OPS> 3502134
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (204206)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1874802
<NUMBER-OF-SHARES-REDEEMED> (615984)
<SHARES-REINVESTED> 25793
<NET-CHANGE-IN-ASSETS> 237049207
<ACCUMULATED-NII-PRIOR> 3476327
<ACCUMULATED-GAINS-PRIOR> 30488353
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 915151
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2194879
<AVERAGE-NET-ASSETS> 31977005
<PER-SHARE-NAV-BEGIN> 7.62
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> .13
<PER-SHARE-DIVIDEND> (.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.74
<EXPENSE-RATIO> .72
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>