Instructions For Form 1066 - U.s. Real Estate Mortgage Investment Conduit (Remic) Income Tax Return - 2017 Page 8

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percentage of ownership for each day in
Accounting fees,
returns and return information are
the quarter that the residual interest holder
Litigation expenses, and
confidential, as required by section 6103.
owned the interest. Total the daily
The cost of preparing and distributing
The time needed to complete and file
amounts and enter the result.
reports and notices to interest holders.
this form and related schedule will vary
Line 3—Complete lines 3a and 3b only
Line 3b—Your share of section 212 ex-
depending on individual circumstances.
for residual interest holders who are
penses for the calendar quarter. Enter
The estimated burden for business
individuals or other pass-through in-
the residual interest holder's share of the
taxpayers filing this form and the related
terest holders (as defined in Tempora-
amount shown on line 3a.
schedule is approved under OMB control
ry Regulations section 1.67-3T).
number 1545–0123 and is included in the
Paperwork Reduction Act Notice. We
estimates shown in the instructions for
Line 3a—Section 212 expenses of the
ask for the information on this form to carry
their business income tax return.
REMIC for the calendar quarter. Enter
out the Internal Revenue laws of the
the REMIC's allocable section 212
If you have comments concerning the
United States. You're required to give us
expenses for the calendar quarter. The
accuracy of the time estimates or
the information. We need it to ensure that
term “allocable section 212 expenses”
suggestions for making this form and
you are complying with these laws and to
means the aggregate amount of the
related schedule simpler, we would be
allow us to figure and collect the right
expenses paid or accrued in the calendar
happy to hear from you. You can send us
amount of tax.
quarter for which a deduction is allowable
comments from IRS.gov/FormComments.
You’re not required to provide the
under section 212 in determining the
Or you can send your comments to
information requested on a form that is
taxable income of the REMIC for the
Internal Revenue Service, Tax Forms and
subject to the Paperwork Reduction Act
calendar quarter.
Publications Division, 1111 Constitution
unless the form displays a valid OMB
Ave. NW, IR-6526, Washington, DC
Section 212 expenses generally
control number. Books or records relating
20224. Don't send the tax form to this
include operational expenses such as:
to a form or its instructions must be
office. Instead, see Where To File, earlier.
Rent,
retained as long as their contents may
Salaries,
become material in the administration of
Legal fees,
any Internal Revenue law. Generally, tax
-8-

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