Instructions For Form 1120-Reit - 2001 (Page 4 of 15) in pdf

report income tax withholding from

Form 1099-R. Report distributions from

Form 8275, Disclosure Statement, and

nonpayroll distributions or payments,

pensions, annuities, retirement or

Form 8275-R, Regulation Disclosure

such as the following income:

profit-sharing plans, individual retirement

Statement, are used to disclose items or

•

Pensions, annuities, IRAs, military

arrangements (IRAs) (including SEPs,

positions taken on a tax return that are

retirement, gambling winnings and

SIMPLEs, Roth IRAs, Coverdell ESAs,

not otherwise adequately disclosed on a

•

Indian gaming profits and backup

Roth conversions and IRA

tax return or that are contrary to Treasury

withholding.

recharacterizations), or insurance

regulations (to avoid parts of the

See Trust fund recovery penalty on

contracts.

accuracy-related penalty or certain

page 6.

preparer penalties).

Form 1099-S. Report gross proceeds

Form 966, Corporate Dissolution or

from the sale or exchange of real estate

Form 8281, Information Return for

Liquidation, is used to report the adoption

transactions.

Publicly Offered Original Issue Discount

of a resolution or plan to dissolve the

Instruments: Report the issuance of

Also use these returns to report

corporation or liquidate any of its stock.

public offerings of debt instruments

amounts received as a nominee for

(obligations).

Form 1042, Annual Withholding Tax

another person.

Return for U.S. Source Income of Foreign

Form 2438, Undistributed Capital Gains

Form 8300, Report of Cash Payments

Persons, and Form 1042-S, Foreign

Tax Return, must be filed by the REIT if it

Over $10,000 Received in a Trade or

Person’s U.S. Source Income Subject to

designates undistributed net long-term

Business: Report the receipt of more than

Withholding. Use these forms to report

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

$10,000 in cash or foreign currency in

and send withheld tax on payments or

one transaction or a series of related

Form 2439, Notice to Shareholder of

distributions made to nonresident alien

transactions.

Undistributed Long-Term Capital Gains,

individuals, foreign partnerships, or

must be completed and a copy given to

Form 8612, Return of Excise Tax on

foreign corporations to the extent these

each shareholder for whom the REIT paid

Undistributed Income of Real Estate

payments constitute gross income from

tax on undistributed net long-term capital

Investment Trusts, is filed if the REIT is

sources within the United States (see

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

liable for the 4% excise tax on

section 861 through 865).

undistributed income imposed under

Form 3520, Annual Return To Report

Also, see sections 1441 and 1442,

section 4981.

Transactions With Foreign Trusts and

and Pub. 515, Withholding of Tax on

Receipt of Certain Foreign Gifts, is

Form 8621, Return by a Shareholder of a

Nonresident Aliens and Foreign Entities.

required if the REIT received a

Passive Foreign Investment Company or

Form 1096, Annual Summary and

distribution from a foreign trust; or, if the

Qualified Electing Fund. Use this form to

Transmittal of U.S. Information Returns.

REIT was a grantor of, transferor of, or

make certain elections by shareholders in

Use Form 1096 to transmit Forms 1099,

transferor to, a foreign trust that existed

a passive foreign investment company

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

during the tax year. See Question 5 of

and to figure certain deferred taxes.

Revenue Service.

Schedule N (Form 1120).

Form 8810, Corporate Passive Activity

Form 1098, Mortgage Interest

Form 5452, Corporate Report of

Loss and Credit Limitations, is filed to

Statement. Report the receipt from any

Nondividend Distributions, is used to

figure the passive activity loss and credit

individual of $600 or more of mortgage

report nondividend distributions.

allowed under section 469 for closely held

interest (including points) in the course of

Form 5471, Information Return of U.S.

corporations.

the REIT’s trade or business and

Persons With Respect to Certain Foreign

reimbursements of overpaid interest.

Form 8842, Election To Use Different

Corporations, is required if the REIT

Annualization Periods for Corporate

Form 1099-A. Report acquisitions and

controls a foreign corporation; acquires,

Estimated Tax, is filed to elect one of the

abandonments of secured property.

disposes of, or owns 10% or more in

annualization periods in section

Form 1099-B. Report proceeds from

value or vote of the outstanding stock of a

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

broker and barter exchange transactions.

foreign corporation; or had control of a

payments under the annualized income

foreign corporation for an uninterrupted

Form 1099-C. Report cancellation of a

installment method.

period of at least 30 days during the

debt.

Form 8865, Return of U.S. Persons With

annual accounting period of the foreign

Form 1099-DIV. Report certain dividends

Respect To Certain Foreign Partnerships.

corporation. See Question 4 of Schedule

and distributions.

A REIT may have to file Form 8865 if it:

N (Form 1120).

Form 1099-INT. Report interest income.

1. Controlled a foreign partnership

Form 5472, Information Return of a 25%

Form 1099-LTC. Report certain

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

Foreign-Owned U.S. Corporation or a

payments made under a long-term care

indirect interest in the partnership).

Foreign Corporation Engaged in a U.S.

insurance contract and certain

2. Owned at least a 10% direct or

Trade or Business. This form is filed if the

accelerated death benefits.

indirect interest in a foreign partnership

REIT is 25% or more foreign owned. See

Form 1099-MISC. Report miscellaneous

while U.S. persons controlled that

the instructions for Question 5 on page

income (e.g., payments to certain fishing

partnership.

14.

boat crew members; payments to

3. Had an acquisition, disposition, or

Form 5498, IRA Contribution

providers of health and medical services;

change in proportional interest in a

Information. Report contributions

gross proceeds paid to attorneys; rent

foreign partnership that:

(including rollover contributions) to any

•

and royalty payments; nonemployee

Increased its direct interest to at

IRA, including a SEP, SIMPLE, Roth IRA,

compensation, etc.)

least 10% or reduced its direct interest of

Coverdell ESA, and to report Roth

at least 10% to less than 10%.

Note: Every REIT must file Form

conversions, IRA recharacterizations, and

•

Changed its direct interest by at

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

the fair market value of the account.

least a 10% interest.

business, it makes payments of rents,

Form 5498-MSA, Archer MSA or

4. Contributed property to a foreign

commissions, or other fixed or

Medicare+Choice MSA Information.

partnership in exchange for a partnership

determinable income (see section 6041)

Report contributions to an Archer MSA

interest if:

totaling $600 or more to any one person

•

and the fair market value of an Archer

Immediately after the contribution,

during the calendar year.

MSA or Medicare+Choice MSA.

the REIT owned, directly or indirectly, at

Form 1099-MSA. Report distributions

For more information, see the

least a 10% interest in the foreign

from an Archer MSA or Medicare+Choice

Instructions for Forms 1099, 1098, 5498,

partnership; or

MSA.

•

and W-2G.

The fair market value of the property

Form 1099-OID. Report original issue

Form 5713, International Boycott Report,

the REIT contributed to the foreign

discount.

must be filed if the REIT had operations

partnership in exchange for a partnership

Form 1099-PATR. Report distributions

in, or related to, certain “boycotting”

interest, when added to other

from cooperatives to their patrons.

countries.

contributions of property made to the

-4-

Instructions For Form 1120-Reit - 2001 Page 4

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