INCOME TRUST
NSAR-A, 1997-01-23
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<PAGE>      PAGE  1
000 A000000 11/30/96
000 C000000 0000946789
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 INCOME TRUST
001 B000000 811-07307
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
007 C010100  1
007 C020100 GOVERNMENT INCOME PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 HIGH YIELD PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 QUALITY INCOME PORTFOLIO
007 C030300 N
008 A00AA01 AMERICAN EXPRESS FINANCIAL CORPORATION
008 B00AA01 A
008 C00AA01 801-14721
008 D01AA01 MINNEAPOLIS
008 D02AA01 MN
008 D03AA01 55440
008 D04AA01 0010
010 A00AA01 AMERICAN EXPRESS FINANCIAL ADVISORS INC.
010 B00AA01 8-16791
010 C01AA01 MINNEAPOLIS
010 C02AA01 MN
010 C03AA01 55440
010 C04AA01 0010
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
013 B03AA01 55402
013 B04AA01 3900
014 A00AA01 AMERICAN EXPRESS FINANCIAL CORPORATION
<PAGE>      PAGE  2
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
018  00AA00 Y
019 A00AA00 Y
019 B00AA00    5
019 C00AA00 TRUSTGROUP
020 A000001 DONALDSON, LUFKIN JENRETTE SEC CORP
020 B000001 13-2741729
020 C000001     37
020 A000002 JEFFERIES & CO.
020 B000002 95-2622900
020 C000002     29
020 A000003 SMITH BARNEY INC.
020 B000003 13-1912900
020 C000003      6
020 A000004 MORGAN STANLEY & CO., INC.
020 B000004 13-2655998
020 C000004      3
020 A000005 STANDARD & POORS SECURITIES
020 B000005 13-2671951
020 C000005      2
020 A000006 WEEDEN & CO. LP
020 B000006 13-3364318
020 C000006      1
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       78
022 A000001 MERRILL LYNCH & CO., INC.
022 B000001 13-5674085
022 C000001   1012134
022 D000001    674017
022 A000002 GOLDMAN SACHS & CO.
022 B000002 13-5108880
022 C000002    802827
022 D000002    226238
022 A000003 SALOMON BROTHERS INC.
022 B000003 13-3082694
022 C000003    576785
022 D000003    311718
022 A000004 NATIONSBANK
<PAGE>      PAGE  3
022 B000004 75-0520130
022 C000004    536519
022 D000004    218338
022 A000005 DONALDSON, LUFKIN JENRETTE SEC CORP.
022 B000005 13-2741729
022 C000005    454217
022 D000005    286450
022 A000006 LEHMAN COMMERCIAL PAPER INC.
022 B000006 13-2501865
022 C000006    469778
022 D000006    132012
022 A000007 MORGAN STANLEY & CO., INC.
022 B000007 13-2655998
022 C000007    352566
022 D000007    247976
022 A000008 CS FIRST BOSTON GROUP
022 B000008 13-5659485
022 C000008    374403
022 D000008    130154
022 A000009 J.P. MORGAN SECURITIES INC.
022 B000009 13-3224016
022 C000009    280115
022 D000009    158938
022 A000010 PAINEWEBBER INC.
022 B000010 13-2638166
022 C000010    181757
022 D000010    116745
023 C000000    6204221
023 D000000    3448971
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 Y
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
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<PAGE>      PAGE  4
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042 E00AA00   0
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042 G00AA00   0
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043  00AA00      0
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050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
<PAGE>      PAGE  5
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056  00AA00 Y
057  00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
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066 A00AA00 N
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077 L000000 N
077 M000000 N
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077 Q010000 Y
077 Q020000 N
077 Q030000 N
015 A000101 AMERICAN EXPRESS TRUST COMPANY
015 B000101 C
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015 C020101 MN
015 C030101 55402
015 C040101 2307
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
070 B010100 N
070 B020100 N
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070 C020100 Y
070 D010100 N
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070 E010100 Y
070 E020100 Y
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 Y
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 Y
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
074 W000100   0.0000
074 X000100        0
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075 A000100        0
075 B000100  1759338
076  000100     0.00
015 A000201 FIRST BANK NATIONAL ASSOCIATION
015 B000201 C
015 C010201 ST. PAUL
015 C020201 MN
015 C030201 55101
015 C040201 1631
015 E010201 X
024  000200 Y
025 A000201 MERRILL LYNCH
025 B000201 13-5674085
025 C000201 D
025 D000201   16796
025 A000202 MORGAN STANLEY GROUP
025 B000202 13-2655998
025 C000202 D
025 D000202    5948
025 D000203       0
025 D000204       0
025 D000205       0
025 D000206       0
025 D000207       0
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045  000200 Y
046  000200 N
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048 G020200 0.000
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048 H020200 0.000
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048 I020200 0.000
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<PAGE>      PAGE  10
048 J020200 0.000
048 K010200  9000000
048 K020200 0.465
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062 B000200   0.0
062 C000200   0.1
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062 H000200   0.0
062 I000200   3.0
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062 P000200  73.6
062 Q000200  13.0
062 R000200   8.6
063 A000200   0
063 B000200  7.7
064 A000200 Y
064 B000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 N
<PAGE>      PAGE  11
070 N010200 Y
070 N020200 Y
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070 P020200 Y
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070 Q020200 N
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070 R020200 N
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<PAGE>      PAGE  12
074 A000200        0
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015 A000301 FIRST BANK NATIONAL ASSOCIATION
015 B000301 C
015 C010301 ST. PAUL
015 C020301 MN
015 C030301 55101
015 C040301 1631
015 E010301 X
024  000300 Y
025 A000301 BANKAMERICA
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025 B000302 36-3595942
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025 D000302    8458
025 A000303 SALOMON BROTHERS
025 B000303 13-3082694
<PAGE>      PAGE  13
025 C000303 D
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025 A000304 SALOMON BROTHERS
025 B000304 13-3082694
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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SIGNATURE   LESLIE L. OGG                                
TITLE       GENERAL COUNSEL     
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 3
   <NAME> QUALITY INCOME PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               NOV-30-1996
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<REALIZED-GAINS-CURRENT>                     (3536169)
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<EQUALIZATION>                                       0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 2
   <NAME> HIGH YIELD PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 1
   <NAME> GOVERNMENT INCOME PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               NOV-30-1996
<INVESTMENTS-AT-COST>                       1814207684
<INVESTMENTS-AT-VALUE>                      1868737176
<RECEIVABLES>                                 15994484
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<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              1906171072
<PAYABLE-FOR-SECURITIES>                      22905816
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                     31249425
<TOTAL-LIABILITIES>                           54155241
<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                1852015831
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             61724838
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 4349753
<NET-INVESTMENT-INCOME>                       57375085
<REALIZED-GAINS-CURRENT>                      (260862)
<APPREC-INCREASE-CURRENT>                     60825122
<NET-CHANGE-FROM-OPS>                         96762583
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-REDEEMED>                          0
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<NET-CHANGE-IN-ASSETS>                      1851975831
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
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</TABLE>


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