UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM N-PX

               ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
                         MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number       811-21210
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                              Alpine Income Trust
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               (Exact name of registrant as specified in charter)

2500 Westchester Avenue, Suite 215, Purchase, New York           10577
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    (Address of principal executive offices)                   (Zip code)

                                Samuel A. Lieber
                      Alpine Woods Capital Investors, LLC
                       2500 Westchester Avenue, Suite 215
                            Purchase, New York 10577
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                    (Name and address of agent for service)

Registrant's telephone number, including area code:    (914) 251-0880
                                                       -----------------

Date of fiscal year end:   October 31
                           -----------------

Date of reporting period:  7/1/10-6/30/11
                           -----------------





ITEM 1. PROXY VOTING RECORD.

******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-21210
Reporting Period: 07/01/2010 - 06/30/2011
Alpine Income Trust

======================== Alpine Municipal Money Market Fund ====================

There is no proxy voting activity for the fund, as the fund did not hold
any votable positions during the reporting period.

======================== Alpine Ultra Short Tax Optimized Inc ==================

There is no proxy voting activity for the fund, as the fund did not hold
any votable positions during the reporting period.





                                   SIGNATURES

      Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

(Registrant)    Alpine Income Trust
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By  (Signature and Title)*
                              /s/ Samuel A. Lieber
                              ------------------------------------
                              Samuel A. Lieber, President

                Date          August 29, 2011
                              ------------------------------------

*Print the name and title of each signing officer under his or her signature.