<PAGE>


                                   SECURITIES AND EXCHANGE COMMISSION

                                         WASHINGTON, D.C.  20549

                                                FORM 10-Q

(Mark one)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE 
ACT OF 1934

      For the quarterly period ended June 30, 1997.

                             OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934

For the transition period from               to


                   COMMISSION FILE NUMBER 33-13375

                         IDS LIFE ACCOUNT RE
                                 OF
                     IDS LIFE INSURANCE COMPANY

         (Exact name of registrant as specified in its charter)


               MINNESOTA                         41-0823832

   (State or other jurisdiction of           (I.R.S. Employer
    incorporation or organization)            Identification No.)


     IDS TOWER 10, MINNEAPOLIS, MINNESOTA             55440-0010
    (Address of principal executive offices)           (Zip Code)


Registrant's telephone number, including area code   (612) 671-3309



Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange 
Act of 1934 during the preceding 12 months (or for shorter period that the 
registrant was required to file such reports), and (2) has been subject to such 
filing requirements for the past 90 days.        Yes   X     No



<PAGE>



The Registrant is a separate  account of IDS Life  Insurance  Company (IDS Life)
established  pursuant to the  insurance  laws of the State of Minnesota  for the
purposes of funding real estate variable  annuity  contracts.  Unless  otherwise
specifically  noted,  the  information  set forth  herein  only  relates  to the
operations of the  Registrant  (the  "Account") and not to the operations of IDS
Life.



                  PART 1 - FINANCIAL INFORMATION


Item 1. FINANCIAL STATEMENTS
<TABLE>
                                          IDS LIFE ACCOUNT RE
                                       of
                                   IDS LIFE INSURANCE COMPANY

                                              BALANCE SHEETS


                                                                   June 30,          December 31,
                                                                     1997                1996
                                                               (Unaudited)

                                                              ------------------   ----------------
Assets:
<S>                                                                     <C>                <C>    
   Cash                                                                 136,523            102,737
   Investments in securities, at value (Note 1)
       (identified cost $8,783,093)                                   8,783,093         10,254,310
   Investments in unconsolidated joint ventures,
       at fair value (cost of $36,168,060 and
       $36,299,366 at June 30, 1997
       and December 31, 1996, respectively)                          23,253,300         23,384,605
   Other assets                                                              --              4,277

                                                              ------------------   ----------------
          Total assets                                               32,172,916         33,745,929

                                                              ==================   ================

Liabilities:
   Payable to IDS Life for:
       Operating expenses                                                16,406             42,340
       Contract terminations                                             25,729              4,793
   Accrued mortality and expense risk fee                                30,589             32,991
   Accrued asset management fee                                          38,237             41,239
   Liabilities related to wholly-owned
    real estate property:
       Accounts payable and other liabilities                                 --             79,090

                                                              ------------------   ----------------
          Total liabilities                                             110,961            200,453

                                                              ==================   ================

Contract Owners' Equity:
   Net assets applicable to Variable Annuity
       contracts in accumulation period                              32,061,955         33,545,476

                                                              ==================   ================

Accumulation units outstanding                                       31,609,642         34,144,955

                                                              ==================   ================
Net asset value per accumulation unit                                         1.01               0.98

                                                              ==================   ================


See accompanying notes to financial statements.
</TABLE>
<TABLE>

                               IDS LIFE ACCOUNT RE
                                                                of
                                          IDS LIFE INSURANCE COMPANY

                                           STATEMENTS OF OPERATIONS
                                                            (unaudited)





                                                                        For the three months ended

                                                                 ------------------    -----------------
                                                                     June 30,              June 30,
                                                                       1997                  1996
                                                                 ------------------    -----------------
Income:
<S>                                                           <C>                  <C>                 
    Interest income                                           $            141,708 $             65,970
    Account's equity in earnings of
          unconsolidated joint ventures                                    592,603              497,491
    Rental income                                                               --              599,606
    Unrealized appreciation (depreciation) of
          investments in unconsolidated joint ventures                           --             (507,511)
                                                                 ------------------    -----------------
               Total income                                                734,311              655,556
                                                                 ------------------    -----------------

Expenses:
    Asset management fee                                                   113,845              146,506
    Mortality and expense risk fee                                          91,075              117,205
    Amortization of deferred organizational
          and borrowing costs                                                   --                6,463
    Other operating expenses                                                 3,721                3,418
    Operating expenses related to wholly-owned
     real estate property:
          Interest                                                              --              183,797
          Utilities                                                             --               38,227
          Repairs and maintenance                                               --               54,661
          Property and other taxes                                              --               49,552
          Salaries                                                              --               45,758
          Management fees                                                       --               28,907
          Other                                                                 --               32,364
                                                                 ------------------    -----------------
               Total expenses                                              208,641              706,858
                                                                 ------------------    -----------------

Net income (loss)                                             $            525,670 $            (51,302)
                                                                 ==================    =================

See accompanying notes to financial statements.
</TABLE>
<TABLE>

                               IDS LIFE ACCOUNT RE
                                                                of
                                          IDS LIFE INSURANCE COMPANY

                                           STATEMENTS OF OPERATIONS
                                                            (unaudited)





                                                                                For the six months ended

                                                                 ----------------------   ----------------------
                                                                       June 30,                 June 30,
                                                                         1997                     1996
                                                                 ----------------------   ----------------------
Income:
<S>                                                           <C>                      <C>                     
    Interest income                                           $                279,853 $                133,350
    Account's equity in earnings of
          unconsolidated joint ventures                                      1,190,864                1,004,262
    Rental income                                                                   --                1,241,144
    Unrealized (depreciation) of participation
          in mortgage loan                                                           --                 (127,844)
    Unrealized appreciation (depreciation) of
          investments in unconsolidated joint ventures                               --                 (507,511)
    Other income                                                                54,258                        --
                                                                 ----------------------   ----------------------
               Total income                                   $              1,524,975 $              1,743,401


Expenses:
    Asset management fee                                                       227,259                  292,741
    Mortality and expense risk fee                                             181,807                  234,193
    Amortization of deferred organizational
          and borrowing costs                                                       --                   12,926
    Other operating expenses                                                    27,350                   36,069
    Operating expenses related to wholly-owned
     real estate property:
          Interest                                                                  --                  368,000
          Utilities                                                                 --                   85,491
          Repairs and maintenance                                                   --                   95,406
          Property and other taxes                                                  --                  105,398
          Salaries                                                                  --                   94,136
          Management fees                                                           --                   56,980
          Other                                                                     --                   70,216
                                                                 ----------------------   ----------------------
               Total expenses                                                  436,416                1,451,556

                                                                 ----------------------   ----------------------

Net income                                                    $              1,088,559 $                291,845

                                                                 ======================   ======================
See accompanying notes to financial statements.
</TABLE>
<TABLE>

                                          IDS LIFE ACCOUNT RE
                                       of
                                  IDS LIFE INSURANCE COMPANY

                                  STATEMENTS OF CASH FLOWS
                                                 (unaudited)

                                                                                       For the six months ended

                                                                      ----------------------   ----------------------
                                                                            June 30,                 June 30,
                                                                              1997                     1996
                                                                      ----------------------   ----------------------
Cash flows from operating activities:
<S>                                                                <C>                      <C>                     
    Net Income                                                     $              1,088,559 $                291,845

    Adjustments   to  reconcile  net  income  to  net  cash  used  in  operating
    activities:
          Account's equity in earnings of unconsolidated
            joint ventures                                                       (1,190,864)              (1,004,262)
          Change in accrued interest on participation
            in mortgage loan                                                             --                    3,965
          Amortization of organizational and borrowing costs                             --                   12,926
          Change in unrealized depreciation of investments
            in unconsolidated joint ventures                                              --                  507,511
          Change in unrealized depreciation (appreciation) of
            participation in mortgage loan                                               --                  127,844
          Change in other assets                                                      4,277                    6,457
          Change in payable to IDS Life for operating expenses                      (25,934)                 (34,701)
          Change in accrued mortality and expense risk fee                           (2,402)                  (4,425)
          Change in accrued asset management fee                                     (3,002)                  (5,532)
          Change in payables and other liabilities related
            to wholly-owned real estate property                                    (79,090)                   7,808
                                                                      ----------------------   ----------------------
          Total adjustments to net income                                        (1,297,015)                (382,409)
                                                                      ----------------------   ----------------------
          Net cash used in operating activities                                    (208,456)                 (90,564)
                                                                      ----------------------   ----------------------

Cash flows from investing activities:
    Net sales (purchases) of short-term securities                                1,471,217                        --
    Capital improvements to wholly-owned real estate property                             --                  (58,440)
    Distributions received from joint ventures                                    1,322,170                  957,153
                                                                      ----------------------   ----------------------
          Net cash provided by investing activities                               2,793,387                  898,713
                                                                      ----------------------   ----------------------

Cash flows from financing activities:
    Proceeds from sales of contracts                                                 14,077                2,126,433
    Payments for contract terminations                                           (2,565,222)              (2,572,054)
    Decrease in mortgage payable                                                         --                  (43,971)
                                                                      ----------------------   ----------------------
          Net cash used in financing activities                                  (2,551,145)                (489,592)
                                                                      ----------------------   ----------------------

Net increase in cash                                                                 33,786                  318,557
Balance of cash at beginning of year                                                102,737                  586,729
                                                                      ----------------------   ----------------------
Balance of cash at end of period                                   $                136,523 $                905,286

Supplemental cash flow disclosure:
    Cash paid for mortgage interest & revolving loan               $                     -- $                368,000
                                                                      ======================   ======================


See accompanying notes to financial statements.
</TABLE>


<PAGE>


                                                     IDS LIFE ACCOUNT RE
                                                     of
                                                     IDS LIFE INSURANCE COMPANY

                                  June 30, 1997
                                                  NOTES TO FINANCIAL STATEMENTS
                                   (unaudited)

1.       GENERAL

         In  the  opinion  of  the  management  of IDS  Life,  the  accompanying
         unaudited financial  statements for IDS Life Account RE (the "Account")
         contain  all   adjustments   (consisting   of  only  normal   recurring
         adjustments)  necessary to present fairly its balance sheets as of June
         30, 1997 and December 31, 1996;  statements of operations for the three
         and six months ended June 30, 1997 and 1996; and the statements of cash
         flows for the six months ended June 30, 1997 and 1996. These statements
         are condensed and therefore do not include all of the  information  and
         footnotes  required by generally  accepted  accounting  principles  for
         complete financial statement disclosure.  The statements should be read
         in conjunction  with the Account's  financial  statements as of and for
         the year ended December 31, 1996 and the notes thereto contained in the
         Account's prospectus dated April 30, 1997.  The results of  operations 
         for the six months ended June 30, 1997 are not necessarily indicative 
         of the results expected for the full year.


2.       INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES

         Unconsolidated Joint Ventures - Summary Information

         Summary information for the Account of its investments in 
         unconsolidated joint ventures for the six months ended June 30, 1997 
         and 1996 is as follows:

                                         For the six months ended
                                                 June 30
                                                 -------
                                            1997          1996
                                            ----          ----

      Account's share of net
       investment income from
       unconsolidated joint ventures   $ 1,190,864    $ 1,004,262

      Total net investment income of
       unconsolidated joint ventures   $14,426,910    $12,741,658

      Total income of unconsolidated
       joint ventures                  $22,986,000    $23,069,000




<PAGE>


Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS


Financial Condition and Results of Operations



<PAGE>


For the Six Months Ended June 30, 1997 Compared to the Six Months Ended 
June 30, 1996 -

Net assets  decreased  from  $33,545,476  at December 31, 1996 to $32,061,955 at
June 30,  1997.  During  this same time  period,  the  accumulation  unit  value
increased  from .98 at December 31, 1996 to 1.01 at June 30,  1997.  The Account
experienced  net  terminations  amounting to $2,551,145 for the six months ended
June 30, 1997 compared to net  terminations of $445,621 for the six months ended
June 30,  1996.  The net  terminations  for the six months  ended June 30,  1996
include  approximately  $1,800,000 for accumulation units purchased by IDS Life,
which has been used to pay for  contract  surrenders,  as  discussed  more fully
below.  In the six months ended June 30, 1997,  IDS Life had not  purchased  any
accumulation units.

Recorded  net  income  for the six months  ended  June 30,  1997 was  $1,088,559
compared to $291,845 for the six months ended June 30, 1996.

Interest income represents income earned in 1997 on the Account's  investment in
short-term  securities.   Interest  generated  from  short-term  investments  of
$279,853 for the six months ended June 30, 1997 is due  primarily to an increase
in  short-term  investments.  The  increase  in  short-term  investments  is due
primarily  to cash  received  as a result of (i) the  payoff  of the  Riverpoint
mortgage  loan  receivable  in  December  1996  and  (ii)  the  sale of the West
Springfield apartments in September 1996.

Interest  income for the six months  ended June 30, 1996  primarily  represented
income earned on the Account's  investment  in the  participation  in a mortgage
loan (Riverpoint  Shopping Center).  For the six months ended June 30, 1996, the
Account recognized net unrealized depreciation of participation in mortgage loan
of $127,844 as a result of lower  effective  rents  achieved upon  releasing the
center.

For the six months ended June 30, 1996,  the Account  recognized  net unrealized
depreciation of investments in  unconsolidated  joint ventures of  approximately
$507,511,  primarily due to a decrease in current assets at Monmouth Associates.
A portion of the  decrease  was a result of a $4,000,000  cash  distribution  in
which the Account's  share was $278,800,  and the payment of certain capital and
tenant improvements.

Distributions  from  unconsolidated  joint ventures increased from $1,322,170 at
the six months ended June 30, 1997  compared to $957,153 at the six months ended
June 30, 1996. The increase in distributions from unconsolidated  joint ventures
is due  primarily to increased  distributions  from  Monmouth  Associates in the
first quarter of 1997. The increased  distribution  was the result of previously
undistributed cash flow earned in prior quarters.

Due to the sale of its  wholly-owned  real estate  investment,  West Springfield
Terrace Apartments,  in September 1996, the Account had $0 rental income for the
six months ended June 30, 1997 compared to  $1,241,144  for the six months ended
June 30, 1996. Also, expenses related to the wholly-owned real estate investment
totaled $0 for the six months  ended June 30, 1997  compared to $875,627 for the
corresponding period in 1996.

For the six  months  ended  June 30,  1997,  the  Account's  recorded  equity in
earnings  of  its  unconsolidated  joint  ventures  (N/S  Associates,   Monmouth
Associates and 1225  Connecticut) was $1,190,864  compared to $1,004,262 for the
six months ended June 30, 1996.  The increase is due primarily to an increase in
interest  income  earned by Monmouth  Associates.  The  increase in earnings was
partially  offset by lower rental income  achieved at Southridge  and Northridge
Malls due to lower effective rents.

Northridge Mall continues to be adversely  affected by the perception that it is
an unsafe place to shop.  This  perception  has resulted in declining  sales and
occupancy over a three-year  period.  Compounding the problem of declining sales
are the high  operating  costs for tenants at the mall.  Occupancy has also been
affected  by  tenant  bankruptcies  over the past  years.  As of June 30,  1997,
occupancy of the mall shops was approximately 72%,  including  temporary tenants
under short term leases.  During the second quarter of 1997 occupancy  decreased
1%. However, the mall shops at Northridge Mall is 75% leased.

To counter the negative  perception  of  Northridge  Mall,  N/S  Associates  has
implemented certain capital improvements and operational programs to improve the
shopping center's safety and appearance, as well as instituted certain marketing
efforts to enhance its image.  Certain  recent  positive  sales trends appear to
indicate a modest improvement;  however,  elimination of the negative perception
is  expected  to take some  time.  In  addition,  N/S  Associates  is seeking to
increase  occupancy at the shopping center by  aggressively  marketing space for
new and renewal  tenants through  leasing  incentives,  as well as continuing to
cooperate with existing  tenants who need short-term rent reductions in order to
retain occupancy of their space. Part of the leasing strategy includes targeting
certain  well-recognized  retailers as a group that would become  tenants at the
shopping  center.  It is expected  that the draw of this group of tenants  would
help the  shopping  center  gain  leasing  momentum  and aid in  future  leasing
efforts.

As of June 30, 1997,  leasing and  occupancy of the portion of  Southridge  Mall
owned by N/S Associates were approximately 91% and 89%, respectively,  including
temporary tenants under short-term leases.

The Account paid asset  management  and mortality  expense risk fees of $409,066
and $526,934 for the six months ended June 30, 1997 and 1996, respectively.

For the Three Months Ended June 30, 1997 Compared to the Three Months Ended 
June 30, 1996 -

Recorded net income (loss) for the three months ended June 30, 1997 was $525,670
compared to $(51,302) for the three months ended June 30, 1996.  The increase in
recorded net income for the three months ended June 30, 1997 is due primarily to
the recognition in 1996 of unrealized depreciation of $507,511 on investments in
unconsolidated joint ventures.

During the three months ended June 30, 1997, $592,603 of income was attributable
to the  Account's  recorded  equity  in  earnings  of its  unconsolidated  joint
ventures (N/S Associates, Monmouth Associates, and 1225 Connecticut) compared to
$497,491 for the  corresponding  three months in 1996. The increase in income is
primarily  due to  (i)  an  increase  in  interest  income  earned  by  Monmouth
Associates and (ii) an increase in rental income earned at 1225 Connecticut. The
increase was partially  offset by lower rental income achieved at Southridge and
Northridge Malls due to lower effective rents.

Due to the sale of its  wholly-owned  real estate  investment,  West Springfield
Terrace Apartments,  in September 1996, the Account had $0 rental income for the
three months ended June 30, 1997 compared to $599,606 for the three months ended
June 30,  1996.  Also,  the  expenses  related to the  wholly-owned  real estate
investment  totaled $0 for the three  months  ended June 30,  1997  compared  to
$433,266 for the corresponding period in 1996.

The Account paid total asset management and mortality  expense risk fees for the
three  months  ended June 30,  1997 of $204,920  compared  to  $263,711  for the
corresponding period in 1996.

Liquidity and Capital Resources

For the Six Months Ended June 30, 1997 Compared to the Six Months Ended 
June 30, 1996 -

At June 30, 1997, the Account had cash and investments of
short-term  securities of approximately  $8,920,000 as compared to approximately
$10,357,000  at December  31,  1996.  The Account had  experienced  net contract
terminations in 4 consecutive quarters.

The  liquidity  requirements  of the Account  have  generally  been met by funds
provided from the Account's  short-term  investments,  cash  distributions  from
unconsolidated  joint ventures,  operating cash flow, interest income,  proceeds
from the sale of West Springfield  Terrace  apartments,  the loan repayment from
Riverpoint  Center,  proceeds from sales of contracts and  borrowings  under the
line of credit from IDS Life and  purchases  of  accumulation  units by IDS Life
discussed  below.  The primary  uses of funds  currently  are expected to be for
asset  management  and mortality and expense risk fees and payments for contract
terminations and redemption units held by IDS Life.

Effective  May 1, 1995,  new contract  sales of the Account  were  discontinued.
Additional  purchase payments continue to be accepted for existing  contracts in
amounts  specified  in  the  Account's  prospectus,  whether  by  means  of  the
previously established bank authorizations or otherwise. Existing contracts also
continue to be serviced and surrender requests will be honored.

IDS Life has purchased  accumulation  units in order to maintain the Account and
its liquidity.  IDS Life made these payments so that no contract holder would be
disadvantaged because sales of new contracts have been discontinued. The initial
payments for accumulation units that IDS Life made into the Account were used to
pay off the amount that the Account had  borrowed  under its  revolving  line of
credit.  As of June 30, 1997,  IDS Life had purchased  approximately  24,969,872
accumulation units.

By  purchasing  accumulation  units,  IDS Life has an ownership  interest in the
Account.  Since IDS Life does not  purchase  a  contract,  it is not  subject to
surrender  charges.   However,  IDS  Life,  as  holder  of  accumulation  units,
participates  in the  increase  or  decrease  in  the  value  of  the  Account's
investments just as other owners of accumulation  units do. IDS Life may realize
a gain or loss on its accumulation units when redeemed.

IDS Life currently expects to hold the accumulation units it purchases until the
surrender of all outstanding contracts or until the Account's liquidity improves
(through,  for example,  one or more sales of real estate  related  investments)
thereby permitting the Account to satisfy its anticipated contract  obligations.
Because IDS Life may purchase a significant  amount of accumulation  units,  IDS
Life may be subject to certain conflicts of interest it would not otherwise have
if it had not purchased such accumulation units, including,  among other things,
a conflict in approving  periodic  valuations of real estate investments made by
the Investment Adviser.

Since the Account has experienced substantial net contract terminations over the
past  several  years,  the Account  does not intend to acquire  additional  real
estate related  investments.  Further, the Account intends to liquidate the real
estate related investments that it currently holds when it becomes  advantageous
or  necessary  to do so.  During 1996,  the Account  liquidated  two real estate
related  investments.  To the extent  funds of the  Account  are not used to pay
obligations of the Account,  including  those under existing  contracts,  or the
redemption  of  accumulation  units  purchased  by IDS Life,  such funds will be
invested in short-term  debt  instruments and possibly  intermediate-term  bonds
with maturities of up to five years.

Through June 30, 1997, Monmouth Associates had funded approximately  $26,132,000
of the  renovation  loan  (which  excludes  $1.3  million of  construction  loan
interest)  for Monmouth  Mall.  Fundings of principal on the loan have been made
from cash  reserves  held by Monmouth  Associates,  cash flow from  interest and
ground rent payments received from the borrower/lessee and capital contributions
made to Monmouth Associates by its partners pro rata based upon their respective
interests.  The aggregate amount of capital contributions to finance the loan is
approximately $9,830,000.  The Account's share of these capital contributions is
approximately  $685,000.  The aggregate amount of the renovation loan, including
accrued and deferred interest of approximately $1,300,000, is currently expected
to be approximately $26,989,000.  Remaining fundings for the renovation loan are
expected  to be made  from  cash  flow  and  funds  currently  held by  Monmouth
Associates.  Monmouth Associates may also be required to make certain additional
loans to pay a portion  of the costs of  certain  tenant  improvements  or other
ordinary  capital  expenditures.  In addition,  Monmouth  Associates may provide
additional financing to the borrower/lessee in order to pay costs to be incurred
in connection with the replacement or expansion of a department  store tenant at
Monmouth  Mall.  However,  it is not  currently  expected  that this would occur
during 1997.

The renovation is complete  except for some tenant  improvement  work for one of
the larger  tenants and some  retainage  work  remaining.  The occupancy of mall
shops  and  outparcel  space at the  shopping  center  as of June  30,  1997 was
approximately 86%. However, the mall shops and outparcel space are approximately
89% leased.  Leasing and  occupancy at the shopping  center have been  adversely
affected by tenant bankruptcies occurring over the past several years.

N/S Associates currently expects that it will incur approximately  $2,090,000 in
1997 for  tenant  improvement,  asbestos  removal  and  other  capital  items at
Northridge  and  Southridge  Malls.  Actual  amounts  expended  in 1997 may vary
depending on a number of factors,  including actual leasing activity, results of
property  operations,  liquidity  considerations  and market conditions over the
course of the year. N/S Associates undertakes asbestos removal from time to time
at portions of the Northridge and Southridge  Malls as tenant spaces are vacated
and prior to occupancy by new tenants. The cost of tenant improvements, asbestos
removal and other  capital  items  generally  will be provided out of cash flows
from the properties. N/S Associates expended approximately $2,236,000 for tenant
improvements, asbestos removal and other capital projects in 1996.

At June 30, 1997, real property  investments  (through two unconsolidated  joint
ventures, N/S Associates and 1225 Connecticut),  land sale-leaseback investments
(through an unconsolidated  joint venture,  Monmouth  Associates) and short-term
investments  represented 45 percent,  27 percent and 28 percent of total assets,
respectively.  At June 30, 1996,  real property  investments,  mortgage loan and
land  sale-leaseback  investments  and  short-term  investments  represented  71
percent, 27 percent and 2 percent of total assets, respectively.


<PAGE>


                      PART II.  OTHER INFORMATION
                      ---------------------------

Item 1. LEGAL PROCEEDINGS

        There are no material  current or pending  legal  proceedings  which the
Registrant is a party to, or to which the Registrant's assets are subject.

Item 2. CHANGES IN SECURITIES

        Not applicable

Item 3. DEFAULTS UPON SENIOR SECURITIES

        Not applicable

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

        Not applicable

Item 6. EXHIBITS AND REPORTS ON FORM 8-K

        (A) Exhibits

            4.1 Form of Deferred Variable Annuity Contract is hereby
                incorporated herein by reference to Exhibit
                4 to the Account's Form S-1 (as amended),  File Number 33-13375,
                filed July 17, 1987.

            4.2 Copy of mortgage loan documents relating to West
                Springfield  Terrace Apartments is hereby incorporated herein by
                reference to Exhibit 4.2 to the  Account's  Form S-1 (as  
                amended),  File Number 33-13375, filed April 12, 1990.

            4.3 Copy of the line of credit agreement, dated
                March 30, 1994  between IDS Life and the  Account  (including  a
                copy  of  the  executed  promissory  note,  dated  
                March  30,  1994)  is  hereby incorporated  by reference to 
                Exhibit 4.3 to the Account's  Form 10-K Report for the year 
                ended December 31, 1993, File Number 33-13375, filed 
                April 5, 1994.

           10.1 Copy of Investment  Advisory  Agreement between IDS Life and JMB
                Annuity Advisors is hereby  incorporated  herein by reference to
                Exhibit 10.1 to the Account's Form S-1 (as amended), File Number
                33-13375, filed April 29, 1988.

           10.2 Copy of N/S  Associates  Joint Venture  Agreement  together with
                certain documents  relating to the purchase of an interest in 
                Northridge Mall is hereby  incorporated  herein by reference to 
                Exhibit 10.2 to the Account's  Form S-1 (as amended), File 
                Number 33-13375, filed April 29, 1988.



<PAGE>


         10.2.1 Copy of Second  Amended and Restated  Articles of Partnership of
                N/S Associates hereby  incorporated herein by reference to 
                Exhibit 10.2.1 to the Account's Form S-1 (as amended), File 
                Number 33-13375, filed April 20, 1989.

           10.3 Copy of N/S Associates Joint Venture Agreement together with
                certain documents relating to the purchase of an interest in 
                Southridge Mall is hereby incorporated herein by reference to
                Exhibit  10.3 to Form S-1 (as  amended),  File Number  33-13375,
                filed April 29, 1988.

           10.4 Copy of Commitment Letter relating to the funding
                of a participating mortgage loan secured by Riverpoint
                Center is hereby incorporated herein by reference to Exhibit 
                10.4 to Form S-1 (as amended),  File Number 33-13375, filed 
                October 11, 1988.

           10.5 Copy of Amended and Restated Articles of Partnership of Monmouth
                Associates  are hereby  incorporated  herein by reference to 
                Exhibit 10.5 to the Account's Form S-1 (as amended), File Number
                33-13375, filed April 12, 1990.

           10.6 Copy of Agreement together with certain other documents relating
                to the purchase of West Springfield  Terrace  Apartments is
                hereby  incorporated herein by  reference  to  Exhibit  10.6 to 
                Form S-1 (as  amended),  File  Number 33-13375, filed
                October 16, 1989.

           10.7 Copy of Agreement  together with certain  documents  relating to
                the purchase of an interest in 1225  Connecticut  Avenue is 
                hereby  incorporated herein by reference to the Account's Form 
                S-1 (as amended), File Number 33-13375, filed June 29, 1990.

           10.8    Copy  of  Purchase   Agreement  for  the  sale  of  the  West
                   Springfield Terrace Apartment is hereby incorporated herein 
                   by reference to the Accounts Report on Form 10-Q (File No. 
                   33-13375) for September 30, 1996 dated November 14, 1996.

           27.1 Financial Data Schedule of the Account for the period ended June
                30, 1997 is filed herewith.

        (B) Report on Form 8-K

            No reports on Form 8-K were  required to be filed by the  Registrant
for the three months ended June 30, 1997.



<PAGE>


                           SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of
1934,  the  Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.


                         IDS LIFE ACCOUNT RE
                                 of
                      IDS LIFE INSURANCE COMPANY

                             (Registrant)




Date:  August 14, 1997                       /S/ Melinda Urion
                                            ------------------
                                           Melinda S. Urion
                                           Executive Vice President
                                                and Controller