Instructions For Form 1120-Reit - 2010 (Page 7 of 17) in pdf

or other unit number after the street

is a trust or association, enter the date

Part I—Real Estate

address. Enter the address of the REIT’s

organized.

principal office or place of business. If the

Investment Trust Taxable

Post Office does not deliver mail to the

Item E. Total Assets

Income

street address and the REIT has a P.O.

Enter the REIT’s total assets (as

box, show the box number instead.

Include in Part I the REIT’s share of gross

determined by the accounting method

Note. Do not use the address of the

income from partnerships in which the

regularly used in keeping its books and

registered agent for the state in which the

REIT is a partner, and the deductions

records) at the end of the tax year. If

corporation is incorporated. For example,

attributable to the gross income items.

there are no assets at the end of the tax

if a business is incorporated in Delaware

See Regulations section 1.856-3(g).

year, enter -0-.

or Nevada and the corporation’s principal

Real estate investment trust taxable

office is located in Little Rock, AR, the

income does not include the following:

corporation should enter the Little Rock

Item F. Final Return, Name

•

Gross income, gains, losses, and

address.

Change, Address Change,

deductions from foreclosure property

If the REIT receives its mail in care of

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

or Amended Return

a third party (such as an accountant or an

aggregate of such amounts results in net

attorney), enter on the street address line

income, report these amounts in Part II.

•

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

•

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

Income or deductions from any

will no longer exist, check the “Final

and street address or P.O. box.

prohibited transaction (defined in section

return” box. See the instructions for

857(b)(6)) resulting in a gain. Report

Termination of Election.

Item B. 100%-owned

these amounts in Part IV.

•

If the REIT has changed its name since

Subsidiaries and Personal

Income

it last filed a return, check the box for

“Name change.” Generally, a REIT also

Holding Companies

Line 1. Dividends. Enter the total

must have amended its articles of

amount of dividends received during the

incorporation and filed the amendment

REITs with 100%-owned

tax year.

with the state in which it was

Subsidiaries

Line 2. Interest. Enter taxable interest

incorporated.

on U.S. obligations and on loans, notes,

Check this box if this return is filed for a

•

If the REIT has changed its address

mortgages, bonds, bank deposits,

REIT with 100%-owned REIT subsidiaries

since it last filed a return (including a

corporate bonds, tax refunds, etc. Do not

under section 856(i). These subsidiaries

change to an “in care of” address), check

offset interest expense against interest

are not treated as separate corporations.

the box for “Address change.”

income. Special rules apply to interest

Do not check this box for a taxable

income from certain below-market-rate

Note. If a change in address occurs after

REIT subsidiary. See the instructions for

loans. See section 7872 for details.

the return is filed, use Form 8822,

Taxable REIT Subsidiaries.

Note. Report tax-exempt interest income

Change of Address, to notify the IRS of

Personal Holding Companies

on Form 1120-REIT, Schedule K, item 8.

the new address.

Do not include tax-exempt interest on line

•

Personal holding companies must attach

If the REIT is amending its return,

2. Also, if required, include the same

to Form 1120-REIT a Schedule PH (Form

check the box for “Amended Return,”

amount on Schedule M-1, line 7.

1120), U.S. Personal Holding Company

complete the entire return, correct the

(PHC) Tax. See the Instructions for

Line 3. Gross rents. Include the

appropriate lines with the new

Schedule PH (Form 1120) for details.

following:

information, and refigure the REIT’s tax

•

Charges for customary services that

liability. Attach a statement that explains

Item C. Employer

may qualify as rents from real property

the reason for the amendments and

are described in Regulations section

identifies the lines being changed on the

Identification Number (EIN)

1.856-4(b)(1). Services customarily

amended return.

Enter the REIT’s EIN. If the REIT does

furnished to tenants of a REIT include

not have an EIN, it must apply for one. An

parking facilities. See Rev. Rul. 2004-24,

Item G. Type of REIT

EIN may be applied for:

2004-10 I.R.B. 550, for guidance to

•

Online — Click on the EIN link at

www.

determine whether amounts received by a

Check the appropriate box to indicate

irs.gov/businesses/small. The EIN is

REIT that provides parking facilities at its

whether you are filing a return for a

issued immediately once the application

rental real properties qualify as rents from

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

information is validated.

real property.

the primary source of gross receipts is

•

By telephone at 1-800-829-4933 from

Rent from personal property leased

derived from mortgage interest and fees,

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

under or with a lease of real property (but

check the “Mortgage” box. Otherwise,

Friday in the REIT’s local time zone.

only if the rent from the personal property

check the “Equity” box.

•

By faxing or mailing Form SS-4,

does not exceed 15% of the total rent for

Application for Employer Identification

the tax year charged for both the real and

Item H. PBA Code (Equity

Number.

personal property under such lease).

Figure the percentage of rents from

REITs Only)

If the REIT has not received its EIN by

personal property by comparing the FMV

the time the return is due, enter “Applied

Enter only one code that best reflects the

of the personal rental property to the FMV

for” in the space for the EIN. For more

principal business activity of an equity

of the total rental property. See section

details, see the Instructions for Form

REIT from the selection below:

856(d)(1) for details.

SS-4.

•

Rent from a taxable REIT subsidiary

531110 – Lessors of Residential

Note. Only REITs located in the United

(TRS) either (a) where at least 90% of the

Buildings & Dwellings

States or U.S. possessions can use the

space at issue is leased to third parties at

•

531114 – Cooperative Housing

online application process.

rents comparable to the rent paid by the

•

531120 – Lessors of Nonresidential

other tenants of the REIT for comparable

Buildings (except Miniwarehouses)

Item D. Date REIT

space; or (b) for certain lodging facilities

•

531130 – Lessors of Miniwarehouses &

or health care property operated by an

Established

Self-Storage Units

eligible independent contractor. For more

•

531190 – Lessors of Other Real Estate

If the REIT is a corporation under state or

information, including definitions and

Property

local law, enter the date incorporated. If it

additional requirements, see sections

-7-

Instructions For Form 1120-Reit - 2010 Page 7

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