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Department of the Treasury

Internal Revenue Service

Instructions for Form

1120-REIT

U.S. Income Tax Return for Real Estate Investment Trusts

Missing and Exploited Children.

Section references are to the Internal

Contents

Page

Photographs of missing children selected

Revenue Code unless otherwise noted.

Schedule J . . . . . . . . . . . . . . . . . 13-15

by the Center may appear in instructions

Schedule K . . . . . . . . . . . . . . . . . . . 15

Contents

Page

on pages that would otherwise be blank.

Schedule L . . . . . . . . . . . . . . . . . . . 16

What’s New . . . . . . . . . . . . . . . . . . . . 1

You can help bring these children home

Schedule M-1 . . . . . . . . . . . . . . . . . 16

Photographs of Missing Children . . . . 1

by looking at the photographs and calling

Unresolved Tax Issues . . . . . . . . . . . . 1

1-800-THE-LOST (1-800-843-5678) if you

How To Get Forms and

What’s New

recognize a child.

Publications . . . . . . . . . . . . . . . . . . 1

•

General Instructions . . . . . . . . . . . . . 2

Unresolved Tax Issues

The filing address for certain REITs

Purpose of Form . . . . . . . . . . . . . . . . 2

whose principal business office or agency

The Taxpayer Advocate Service (TAS) is

Who Must File . . . . . . . . . . . . . . . . . . 2

is located in Georgia and Tennessee has

an independent organization within the

General Requirements to Qualify

changed. See Where To File on page 2.

IRS whose employees assist taxpayers

•

as a REIT . . . . . . . . . . . . . . . . . . . . 2

For returns required to be filed after

who are experiencing economic harm,

Other Requirements . . . . . . . . . . . . . . 2

December 31, 2008, the minimum penalty

who are seeking help in resolving tax

Termination of Election . . . . . . . . . . . . 2

for failure to file a return that is over 60

problems that have not been resolved

days late has increased to the smaller of

Where To File . . . . . . . . . . . . . . . . . . 2

through normal channels, or who believe

the tax due or $135. See page 4 of the

Taxable REIT Subsidiaries

that an IRS system or procedure is not

Instructions.

(TRS) . . . . . . . . . . . . . . . . . . . . . . . 3

working as it should. The service is free,

•

For business start-up and

When To File . . . . . . . . . . . . . . . . . . . 3

confidential, tailored to meet your needs,

organizational costs paid or incurred after

Who Must Sign . . . . . . . . . . . . . . . . . 3

and is available for businesses, as well as

September 8, 2008, a REIT is no longer

individuals.

Paid Preparer Authorization . . . . . . . . 3

required to attach a statement to its return

Assembling the Return . . . . . . . . . . . . 3

The REIT can contact the TAS as

or specifically identify the amount

Depository Methods of Tax

follows.

deducted as organizational or start-up

•

Payment . . . . . . . . . . . . . . . . . . . . 3

Call the TAS toll-free case intake line at

costs for the election under sections

Estimated Tax Payments . . . . . . . . . . 4

1-877-777-4778 or TTY/TDD

195(b) or 248(a) to be effective. See page

1-800-829-4059 to see if the REIT is

Interest and Penalties . . . . . . . . . . . . . 4

8 of the instructions.

eligible for assistance.

•

Accounting Methods . . . . . . . . . . . . . . 4

A REIT can elect to claim additional

•

Call or write the REIT’s local taxpayer

Accounting Period . . . . . . . . . . . . . . . 5

research and minimum tax credits in lieu

advocate, whose phone number and

Rounding Off to Whole Dollars . . . . . . 5

of claiming any additional first-year

address are listed in the local telephone

Recordkeeping . . . . . . . . . . . . . . . . . . 5

special depreciation allowance for eligible

directory and in Pub. 1546, Taxpayer

Other Forms That May Be

qualified property. See the instructions for

Advocate Service – Your Voice at the

Required . . . . . . . . . . . . . . . . . . . . 5

line 24g on page 11.

IRS.

•

Statements . . . . . . . . . . . . . . . . . . . . 6

For tax years ending after May 22,

•

File Form 911, Request for Taxpayer

2008, and beginning before May 23,

Specific Instructions . . . . . . . . . . . . 6

Advocate Assistance (And Application for

2009, a maximum 15% alternative tax will

Period Covered . . . . . . . . . . . . . . . . . 6

Taxpayer Assistance Order), or ask an

apply to the REIT’s qualified timber gain

Name and Address . . . . . . . . . . . . . . 7

IRS employee to complete it on the

(as defined under section 1201(b)(2)).

100%-owned Subsidiaries and

REIT’s behalf.

The alternative tax applies for both the

Personal Holding Companies . . . . . . 7

For more information, go to

regular tax and the alternative minimum

Employer Identification Number

gov/advocate.

tax. See the instructions for Schedule J,

(EIN) . . . . . . . . . . . . . . . . . . . . . . . 7

line 2a, on page 13.

Date REIT Established . . . . . . . . . . . . 7

•

How To Get Forms

For information on temporary tax relief

Total Assets . . . . . . . . . . . . . . . . . . . 7

for certain taxpayers in Kiowa County,

and Publications

Final Return, Name Change,

Kansas, and surrounding areas, see Pub.

Address Change, or Amended

4492-A, Information for Taxpayers

Internet. You can access the IRS

Return . . . . . . . . . . . . . . . . . . . . . . 7

Affected by the May 4, 2007, Kansas

website 24 hours a day, 7 days a week, at

Type of REIT . . . . . . . . . . . . . . . . . . . 7

Storms and Tornadoes.

gov to:

•

PBA Code . . . . . . . . . . . . . . . . . . . . . 7

For information on tax relief granted to

Download forms, instructions, and

Part I — Real Estate Investment

certain taxpayers in the Midwestern

publications;

•

Trust Taxable Income . . . . . . . . . 7-12

disaster areas, see Publication 4492-B,

Order IRS products online;

•

Part II — Tax on Net Income

Information for Affected Taxpayers in the

Research your tax questions online;

•

From Foreclosure Property . . . . . . 12

Midwestern Disaster Areas.

Search publications online by topic or

keyword; and

Part III — Tax for Failure To Meet

•

Certain Source-of-Income

Photographs of Missing

tax news by email.

Requirements . . . . . . . . . . . . . . . . 12

Children

Part IV — Tax on Net Income

IRS Tax Products DVD. You can order

From Prohibited Transactions

. . . 12

The Internal Revenue Service is a proud

Publication 1796, IRS Tax Products DVD,

Schedule A . . . . . . . . . . . . . . . . . . . 12

partner with the National Center for

and obtain:

Cat. No. 64243J

Instructions For Form 1120-Reit - U.s. Income Tax Return For Real Estate Investment Trusts - 2008

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