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Transfers to a corporation controlled by

Note. Do not use the address of the

Item F. Final Return, Name

the transferor. If a person receives stock

registered agent for the state in which the

of a corporation in exchange for property,

corporation is incorporated. For example, if

Change, Address Change,

and no gain or loss is recognized under

a business is incorporated in Delaware or

or Amended Return

section 351, the person (transferor) and the

Nevada and the corporation’s principal office

•

transferee must each attach to their tax

is located in Little Rock, AR, the corporation

If this is the REIT’s final return, and it will

returns the information required by

should enter the Little Rock address.

no longer exist, check the “Final return” box.

Regulations section 1.351-3.

See the instructions for Termination of

If the REIT receives its mail in care of a

Election.

Dual consolidated losses. If a domestic

third party (such as an accountant or an

•

If the REIT has changed its name since it

corporation incurs a dual consolidated loss

attorney), enter on the street address line

last filed a return, check the box for “Name

(as defined in Regulations section

“C/O” followed by the third party’s name and

change.” Generally, a REIT also must have

1.1503-2(c)(5)), the corporation (or

street address or P.O. box.

amended its articles of incorporation and

consolidated group) may need to attach an

filed the amendment with the state in which

elective relief agreement and/or an annual

Item B. 100%-owned

it was incorporated.

certification as provided in Regulations

•

If the REIT has changed its address since

section 1.1503-2(g)(2).

Subsidiaries and Personal

it last filed a return (including a change to an

Election to reduce basis under section

Holding Companies

“in care of” address), check the box for

362(e)(2)(C). The transferor and transferee

“Address change.”

in certain section 351 transactions can make

REITs with 100%-owned

Note. If a change in address occurs after

a joint election under section 362(e)(2)(C) to

the return is filed, use Form 8822, Change

limit the transferor’s basis in the stock

Subsidiaries

of Address, to notify the IRS of the new

received instead of the transferee’s basis in

Check this box if this return is filed for a

address.

the transferred property. The transferor and

REIT with 100%-owned REIT subsidiaries

•

transferee may make the election by

If the REIT is amending its return, check

under section 856(i). These subsidiaries are

attaching the statement as provided in

the box for “Amended Return,” complete the

not treated as separate corporations.

Notice 2005-70, 2005-41 I.R.B. 694, to their

entire return, correct the appropriate lines

tax returns filed by the due date (including

with the new information, and refigure the

Do not check this box for a taxable REIT

extensions) for the tax year in which the

REIT’s tax liability. Attach a statement that

subsidiary. See the instructions for Taxable

transaction occurred. Once made, the

explains the reason for the amendments

REIT Subsidiaries.

election is irrevocable. See section

and identifies the lines being changed on

362(e)(2)(C) and Notice 2005-70.

the amended return.

Personal Holding Companies

Determination under section 860(e)(4).

Personal holding companies must attach to

Item G. Type of REIT

For purposes of section 860, and the related

Form 1120-REIT a Schedule PH (Form

regulations, a REIT that makes a

1120), U.S. Personal Holding Company

Check the appropriate box to indicate

determination under section 860(e)(4) is

(PHC) Tax. See the instructions for that form

whether you are filing a return for a

required to attach its statement to its

for details.

“Mortgage REIT” or an “Equity REIT.” If the

amendment, or supplement, to its tax return

primary source of gross receipts is derived

for the relevant tax year.

from mortgage interest and fees, check the

Item C. Employer

“Mortgage” box. Otherwise, check the

Other forms and statements. See Pub.

Identification Number (EIN)

“Equity” box.

542 for a list of other forms and statements

a corporation may need to file in addition to

Enter the REIT’s EIN. If the REIT does not

Item H. PBA Code (Equity

the forms and statements discussed

have an EIN, it must apply for one. An EIN

throughout these instructions.

may be applied for:

REITs Only)

•

Online — Click on the EIN link at

Enter only one code that best reflects the

gov/businesses/small. The EIN is issued

principal business activity of an equity REIT

immediately once the application information

Specific Instructions

from the selection below:

is validated.

•

531110 – Lessors of Residential Buildings

By telephone at 1-800-829-4933 from

Period Covered

& Dwellings

7:00 a.m. to 10:00 p.m. Monday through

•

531114 – Cooperative Housing

Friday in the REIT’s local time zone.

File the 2007 return for calendar year 2007

•

531120 – Lessors of Nonresidential

By mailing or faxing Form SS-4,

and fiscal years that begin in 2007 and end

Buildings (except Miniwarehouses)

Application for Employer Identification

in 2008. For a fiscal year return, fill in the tax

•

531130 – Lessors of Miniwarehouses &

Number.

year space at the top of the form.

Self-Storage Units

•

If the REIT has not received its EIN by

Note. The 2007 Form 1120-REIT can also

531190 – Lessors of Other Real Estate

the time the return is due, enter “Applied for”

be used if:

Property

in the space for the EIN. See Pub. 583 for

•

The REIT has a tax year of less than 12

details.

months that begins and ends in 2008; and

•

Part I—Real Estate

Note. The online application process is not

The 2008 Form 1120-REIT is not

yet available for REITs with addresses in

available at the time the REIT is required to

Investment Trust Taxable

foreign countries or Puerto Rico.

file its return.

Income

The REIT must show its 2008 tax year

Item D. Date REIT

on the 2007 Form 1120-REIT and take into

Include in Part I the REIT’s share of gross

account any tax law changes that are

income from partnerships in which the REIT

Established

effective for tax years beginning after

is a partner, and the deductions attributable

If the REIT is a corporation under state or

December 31, 2007.

to the gross income items. See Regulations

local law, enter the date incorporated. If it is

section 1.856-3(g).

a trust or association, enter the date

Name and Address

Real estate investment trust taxable

organized.

Type or print the REIT’s true name (as set

income does not include the following:

•

forth in the charter or other legal document

Gross income, gains, losses, and

Item E. Total Assets

creating it) and address on the appropriate

deductions from foreclosure property

lines. Include the suite, room, or other unit

Enter the REIT’s total assets (as determined

(defined in section 856(e)). If the aggregate

number after the street address. If the Post

by the accounting method regularly used in

of such amounts results in net income,

Office does not deliver mail to the street

keeping its books and records) at the end of

report these amounts in Part II.

•

address and the REIT has a P.O. box, show

the tax year. If there are no assets at the

Income or deductions from any prohibited

the box number instead.

end of the tax year, enter -0-.

transaction (defined in section 857(b)(6))

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Instructions For Form 1120-Reit - Internal Revenue Service Of Department Of The Treasury - 2007 Page 6

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