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Also, see sections 1441 and 1442, and

Form 3520, Annual Return To Report

liable for the 4% excise tax on

Pub. 515, Withholding of Tax on

Transactions With Foreign Trusts and

undistributed income imposed under

Nonresident Aliens and Foreign Entities.

Receipt of Certain Foreign Gifts, is

section 4981.

required if the REIT received a

Form 1096, Annual Summary and

Form 8621, Return by a Shareholder of a

distribution from a foreign trust; or, if the

Transmittal of U.S. Information Returns.

Passive Foreign Investment Company or

REIT was a grantor of, transferor of, or

Use Form 1096 to transmit Forms 1099,

Qualified Electing Fund. Use this form to

transferor to, a foreign trust that existed

1098, 5498, and W-2G to the Internal

make certain elections by shareholders in

during the tax year. See Question 5 of

Revenue Service.

a passive foreign investment company

Schedule N (Form 1120).

and to figure certain deferred taxes.

Form 1098, Mortgage Interest

Form 5452, Corporate Report of

Statement. Report the receipt from any

Form 8810, Corporate Passive Activity

Nondividend Distributions, is used to

individual of $600 or more of mortgage

Loss and Credit Limitations, is filed to

report nondividend distributions.

interest (including points) in the course of

figure the passive activity loss and credit

the REIT’s trade or business and

Form 5471, Information Return of U.S.

allowed under section 469 for closely held

reimbursements of overpaid interest.

Persons With Respect to Certain Foreign

corporations.

Corporations, is required if the REIT

Form 1099-A. Report acquisitions and

Form 8842, Election To Use Different

controls a foreign corporation; acquires,

abandonments of secured property.

Annualization Periods for Corporate

disposes of, or owns 10% or more in

Estimated Tax, is filed to elect one of the

Form 1099-B. Report proceeds from

value or vote of the outstanding stock of a

annualization periods in section

broker and barter exchange transactions.

foreign corporation; or had control of a

6655(e)(2)(C) to figure estimated tax

Form 1099-C. Report cancellation of a

foreign corporation for an uninterrupted

payments under the annualized income

debt.

period of at least 30 days during the

installment method.

annual accounting period of the foreign

Form 1099-DIV. Report certain dividends

Form 8865, Return of U.S. Persons With

corporation. See Question 4 of Schedule

and distributions.

Respect To Certain Foreign Partnerships.

N (Form 1120).

Form 1099-INT. Report interest income.

A REIT may have to file Form 8865 if it:

Form 5472, Information Return of a 25%

Form 1099-LTC. Report certain

1. Controlled a foreign partnership

Foreign-Owned U.S. Corporation or a

payments made under a long-term care

(i.e., owned more than a 50% direct or

Foreign Corporation Engaged in a U.S.

insurance contract and certain

indirect interest in the partnership).

Trade or Business. This form is filed if the

accelerated death benefits.

2. Owned at least a 10% direct or

REIT is 25% or more foreign owned. See

Form 1099-MISC. Report miscellaneous

indirect interest in a foreign partnership

the instructions for Question 5 on page

income (e.g., payments to certain fishing

while U.S. persons controlled that

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boat crew members; payments to

partnership.

Form 5498, IRA and Coverdell ESA

providers of health and medical services;

3. Had an acquisition, disposition, or

Contribution Information. Report

gross proceeds paid to attorneys; rent

change in proportional interest in a

contributions (including rollover

and royalty payments; nonemployee

foreign partnership that:

contributions) to any IRA, including a

•

compensation, etc.)

Increased its direct interest to at

SEP, SIMPLE, Roth IRA, Coverdell ESA,

Note: Every REIT must file Form

least 10% or reduced its direct interest of

and to report Roth conversions, IRA

at least 10% to less than 10%.

1099-MISC if, in the course of its trade or

recharacterizations, and the fair market

•

Changed its direct interest by at

business, it makes payments of rents,

value of the account.

least a 10% interest.

commissions, or other fixed or

Form 5498-MSA, Archer MSA or

4. Contributed property to a foreign

determinable income (see section 6041)

Medicare+Choice MSA Information.

totaling $600 or more to any one person

partnership in exchange for a partnership

Report contributions to an Archer MSA

during the calendar year.

interest if:

•

and the fair market value of an Archer

Immediately after the contribution,

Form 1099-MSA. Report distributions

MSA or Medicare+Choice MSA.

the REIT owned, directly or indirectly, at

from an Archer MSA or Medicare+Choice

For more information, see the

least a 10% interest in the foreign

MSA.

Instructions for Forms 1099, 1098, 5498,

partnership; or

•

Form 1099-OID. Report original issue

and W-2G.

The fair market value of the property

discount.

the REIT contributed to the foreign

Form 5713, International Boycott Report,

Form 1099-PATR. Report distributions

partnership in exchange for a partnership

must be filed if the REIT had operations

from cooperatives to their patrons.

interest, when added to other

in, or related to, certain “boycotting”

contributions of property made to the

Form 1099-R. Report distributions from

countries.

foreign partnership during the preceding

pensions, annuities, retirement or

Form 8275, Disclosure Statement, and

12-month period, exceeds $100,000.

profit-sharing plans, individual retirement

Form 8275-R, Regulation Disclosure

Also, the REIT may have to file Form

arrangements (IRAs) (including SEPs,

Statement, are used to disclose items or

8865 to report certain dispositions by a

SIMPLEs, Roth IRAs, Coverdell ESAs,

positions taken on a tax return that are

foreign partnership of property it

Roth conversions and IRA

not otherwise adequately disclosed on a

previously contributed to that foreign

recharacterizations), or insurance

tax return or that are contrary to Treasury

partnership if it was a partner at the time

contracts.

regulations (to avoid parts of the

of the disposition. For more details,

Form 1099-S. Report gross proceeds

accuracy-related penalty or certain

including penalties for failing to file Form

from the sale or exchange of real estate

preparer penalties).

8865, see Form 8865 and its separate

transactions.

Form 8281, Information Return for

instructions.

Also use these returns to report

Publicly Offered Original Issue Discount

amounts received as a nominee for

Instruments. Report the issuance of

Form 8875, Taxable REIT Subsidiary

another person.

public offerings of debt instruments

Election, is filed jointly by a corporation

(obligations).

and a REIT to have the corporation

Form 2438, Undistributed Capital Gains

treated as a taxable REIT subsidiary.

Tax Return, must be filed by the REIT if it

Form 8300, Report of Cash Payments

designates undistributed net long-term

Over $10,000 Received in a Trade or

Form 8886, Reportable Transaction

capital gains under section 857(b)(3)(D).

Business. Report the receipt of more than

Disclosure Statement, is required if the

$10,000 in cash or foreign currency in

Form 2439, Notice to Shareholder of

REIT enters into a reportable transaction

one transaction or a series of related

Undistributed Long-Term Capital Gains,

after December 31, 2002. The following

transactions.

must be completed and a copy given to

are reportable transactions.

•

each shareholder for whom the REIT paid

Form 8612, Return of Excise Tax on

Any transaction the same as or

tax on undistributed net long-term capital

Undistributed Income of Real Estate

substantially similar to tax avoidance

gains under section 857(b)(3)(D).

Investment Trusts, is filed if the REIT is

transactions identified by the IRS.

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Instructions For Form 1120-Reit - U.s. Income Tax Return For Real Estate Investment Trusts - 2002 Page 4

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