Instructions For Form 1120-Reit - 2011 printable pdf download

2011

Department of the Treasury

Internal Revenue Service

Instructions for Form

1120-REIT

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

Contents

Page

The REIT can contact the TAS as

Section references are to the Internal

follows.

Revenue Code unless otherwise noted.

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

•

Call the TAS toll-free line at

Contents

Page

1-877-777-4778 or TTY/TDD

What’s New

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

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

Photographs of Missing Children . . . . 1

eligible for assistance.

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

•

Change of address. Form 8822-B,

Call or write the REIT’s local taxpayer

How To Get Forms and

Change of Address — Business, has been

advocate, whose phone number and

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

created specifically for business use.

address are listed in the local telephone

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

REITs use this form to notify the IRS of its

directory and in Pub. 1546, Taxpayer

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

new business address or location. See

Advocate Service – Your Voice at the

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

the instructions for Item F.

IRS.

•

File Form 911, Request for Taxpayer

General Requirements to Qualify

Built-in gains. For tax years beginning

Advocate Assistance (And Application for

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

in 2011, no tax is imposed on the net

Taxpayer Assistance Order), or ask an

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

recognized built-in gain of a REIT if the

IRS employee to complete it on the

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

5th year of the applicable recognition

REIT’s behalf.

period ended before the tax year. See the

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

Built-in Gains Tax Worksheet Instructions.

For more information, go to

Taxable REIT Subsidiaries

gov/advocate.

(TRS) . . . . . . . . . . . . . . . . . . . . . . . 2

Reasonable cause statement for

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

certain failures. If the REIT failed to

How To Get Forms

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

meet the asset test and/or gross income

test, an explanation and supporting

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

and Publications

schedules should be attached to Form

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

1120-REIT. See the instructions for

Internet. You can access the IRS

Tax Payments . . . . . . . . . . . . . . . . . . 3

Schedule J, lines 2c and 2f for more

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

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

IRS.gov

to:

information.

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

•

Download forms, instructions, and

Future developments. The IRS has

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

publications;

created a page on IRS.gov for information

Accounting Period . . . . . . . . . . . . . . . 4

•

Order IRS products online;

about Form 1120-REIT and its

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

•

Research your tax questions online;

instructions at gov/form1120reit.

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

•

Search publications online by topic or

Information about any future

Other Forms That May Be

keyword;

developments affecting Form 1120-REIT

•

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

View Internal Revenue Bulletins (IRBs)

(such as legislation enacted after we

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

published in recent years; and

release it) will be posted on that page.

•

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

tax news by email.

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

Photographs of Missing

Name and Address . . . . . . . . . . . . . . 6

IRS Tax Products DVD. You can order

Children

100%-owned Subsidiaries and

Pub. 1796, IRS Tax Products DVD, and

Personal Holding Companies . . . . . . 7

The Internal Revenue Service is a proud

obtain the following.

•

Employer Identification Number

partner with the National Center for

Current year forms, instructions, and

Missing and Exploited Children.

publications.

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

•

Photographs of missing children selected

Prior year forms, instructions, and

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

by the Center may appear in instructions

publications.

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

•

on pages that would otherwise be blank.

Tax Map: an electronic research tool

Final Return, Name Change,

You can help bring these children home

and finding aid.

Address Change, or Amended

•

by looking at the photographs and calling

Tax law frequently asked questions

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

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

(FAQs).

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

•

recognize a child.

Tax topics from the IRS telephone

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

response system.

Part I — Real Estate Investment

Unresolved Tax Issues

•

Internal Revenue Code – Title 26 of

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

the U.S. Code.

The Taxpayer Advocate Service (TAS) is

Part II — Tax on Net Income

•

Fill-in, print and save features for most

an independent organization within the

From Foreclosure Property . . . . . . 12

tax forms.

IRS whose employees assist taxpayers

•

Part III — Tax for Failure To Meet

Internal Revenue Bulletins.

who are experiencing economic harm,

•

Certain Source-of-Income

Toll-free and email technical support.

who are seeking help in resolving tax

•

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

Two releases during the year.

problems that have not been resolved

— The first release will ship early in

Part IV — Tax on Net Income

through normal channels, or who believe

January.

From Prohibited Transactions

. . . 12

that an IRS system or procedure is not

— The final release will ship early in

Schedule A . . . . . . . . . . . . . . . . . . . 13

working as it should. The service is free,

March.

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

confidential, tailored to meet your needs,

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

and is available for businesses, as well as

Buy the DVD from the National

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

individuals.

Technical Information Service (NTIS) at:

Jan 27, 2012

Cat. No. 64243J

Instructions For Form 1120-Reit - 2011

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