Instructions For Form 1120-Reit - 2011 (Page 7 of 16) in pdf

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Item F. Final Return, Name

if a business is incorporated in Delaware

Income or deductions from any

or Nevada and the corporation’s principal

prohibited transaction (defined in section

Change, Address Change,

office is located in Little Rock, AR, the

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

corporation should enter the Little Rock

or Amended Return

these amounts in Part IV.

address.

Income

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

will no longer exist, check the “Final

If the REIT receives its mail in care of

Line 1. Dividends. Enter the total

return” box. See the instructions for

a third party (such as an accountant or an

amount of dividends received during the

Termination of Election.

attorney), enter on the street address line

tax year.

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If the REIT has changed its name since

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

Line 2. Interest. Enter taxable interest

it last filed a return, check the box for

and street address or P.O. box.

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

“Name change.” Generally, a REIT also

mortgages, bonds, bank deposits,

must have amended its articles of

Item B. 100%-owned

corporate bonds, tax refunds, etc. Do not

incorporation and filed the amendment

offset interest expense against interest

Subsidiaries and Personal

with the state in which it was

income. Special rules apply to interest

incorporated.

Holding Companies

income from certain below-market-rate

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If the REIT has changed its address

loans. See section 7872 for details.

since it last filed a return (including a

REITs with 100%-owned

Note. Report tax-exempt interest income

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

Subsidiaries

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

the box for “Address change.”

Do not include tax-exempt interest on line

Check this box if this return is filed for a

Note. If a change in address occurs after

2. Also, if required, include the same

REIT with 100%-owned REIT subsidiaries

the return is filed, use Form 8822-B,

amount on Schedule M-1, line 7.

under section 856(i). These subsidiaries

Change of Address-Business, to notify

are not treated as separate corporations.

Line 3. Gross rents. Include the

the IRS of the new address.

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following:

If the REIT is amending its return,

Do not check this box for a taxable

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Charges for customary services that

check the box for “Amended Return,”

REIT subsidiary. See the instructions for

may qualify as rents from real property

complete the entire return, correct the

Taxable REIT Subsidiaries.

are described in Regulations section

appropriate lines with the new

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

information, and refigure the REIT’s tax

Personal Holding Companies

furnished to tenants of a REIT include

liability. Attach a statement that explains

Personal holding companies must attach

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

the reason for the amendments and

to Form 1120-REIT a Schedule PH (Form

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

identifies the lines being changed on the

1120), U.S. Personal Holding Company

determine whether amounts received by a

amended return.

(PHC) Tax. See the Instructions for

REIT that provides parking facilities at its

Schedule PH (Form 1120) for details.

Item G. Type of REIT

rental real properties qualify as rents from

real property.

Check the appropriate box to indicate

Item C. Employer

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Rent from personal property leased

whether you are filing a return for a

under or with a lease of real property (but

Identification Number (EIN)

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

only if the rent from the personal property

the primary source of gross receipts is

Enter the REIT’s EIN. If the REIT does

does not exceed 15% of the total rent for

derived from mortgage interest and fees,

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

the tax year charged for both the real and

check the “Mortgage” box. Otherwise,

EIN may be applied for:

personal property under such lease).

check the “Equity” box.

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Figure the percentage of rents from

Online — Click on the EIN link at

www.

Item H. PBA Code (Equity

personal property by comparing the FMV

irs.gov/businesses/small. The EIN is

of the personal rental property to the FMV

issued immediately once the application

REITs Only)

of the total rental property. See section

information is validated.

856(d)(1) for details.

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Enter only one code that best reflects the

By telephone at 1-800-829-4933.

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Rent from a taxable REIT subsidiary

principal business activity of an equity

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By faxing or mailing Form SS-4,

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

REIT from the selection below:

Application for Employer Identification

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space at issue is leased to third parties at

531110 – Lessors of Residential

Number.

rents comparable to the rent paid by the

Buildings & Dwellings

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other tenants of the REIT for comparable

If the REIT has not received its EIN by

531114 – Cooperative Housing

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space; or (b) for certain lodging facilities

the time the return is due, enter “Applied

531120 – Lessors of Nonresidential

or health care property operated by an

for” in the space for the EIN. For more

Buildings (except Miniwarehouses)

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eligible independent contractor. For more

details, see the Instructions for Form

531130 – Lessors of Miniwarehouses &

information, including definitions and

SS-4.

Self-Storage Units

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additional requirements, see sections

531190 – Lessors of Other Real Estate

Note. Only REITs located in the United

856(d)(8) and 856(d)(9). Also, see Rev.

Property

States or U.S. possessions can use the

Proc. 2003-66, 2003-33 I.R.B. 364 for the

online application process.

special rules on rents paid to a REIT by

Part I—Real Estate

certain joint ventures that include a TRS.

Item D. Date REIT

See section 856(d)(2) for amounts

Investment Trust Taxable

excluded from “rents from real property.”

Established

Income

Line 4. Other gross rents. Enter the

If the REIT is a corporation under state or

gross amount received for renting

Include in Part I the REIT’s share of gross

local law, enter the date incorporated. If it

property not included on line 3.

income from partnerships in which the

is a trust or association, enter the date

REIT is a partner, and the deductions

Line 5. Capital gain net income. Every

organized.

attributable to the gross income items.

sale or exchange of a capital asset must

See Regulations section 1.856-3(g).

be reported in detail on Schedule D (Form

Item E. Total Assets

1120), Capital Gains and Losses, even if

Real estate investment trust taxable

there is no gain or loss.

Enter the REIT’s total assets (as

income does not include the following:

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determined by the accounting method

Gross income, gains, losses, and

Line 7. Other income. Enter any other

regularly used in keeping its books and

deductions from foreclosure property

taxable income not reported on lines 1

records) at the end of the tax year. If

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

through 6, except amounts that must be

there are no assets at the end of the tax

aggregate of such amounts results in net

reported in Part II or IV. List the type and

year, enter -0-.

income, report these amounts in Part II.

amount of income on an attached

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Instructions For Form 1120-Reit - 2011 Page 7

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