Instructions For Form 1120-Reit - 2016 printable pdf download

2016

Department of the Treasury

Internal Revenue Service

Instructions for Form

1120-REIT

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

The Taxpayer Advocate

Contents

Page

Section references are to the Internal Revenue

Code unless otherwise noted.

Service

Schedule J—Tax Computation . . . . .

Contents

Page

Schedule K—Other Information . . . .

The Taxpayer Advocate Service (TAS) is

Photographs of Missing Children . . . .

Schedule L–Balance Sheets per

an independent organization within the

Books . . . . . . . . . . . . . . . . . .

The Taxpayer Advocate Service . . . . .

IRS that helps taxpayers and protects

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

How To Get Forms and

taxpayer rights. TAS's job is to ensure that

Publications . . . . . . . . . . . . . . .

every taxpayer is treated fairly and knows

General Instructions . . . . . . . . . . . . .

and understands their rights under the

Future Developments

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

Taxpayer Bill of

Rights.

For the latest information about

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

As a taxpayer, the REIT has rights that

developments related to Form 1120-REIT

General Requirements To Qualify

the IRS must abide by in its dealings with

and its instructions, such as legislation

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

the REIT. TAS can help the REIT if:

enacted after they were published, go to

Other Requirements

. . . . . . . . . . . .

A problem is causing financial difficulty

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

for the business.

Taxable REIT Subsidiaries

What's New

The business is facing an immediate

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

threat of adverse action.

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

Changes in due date for filing REIT

The REIT has tried repeatedly to

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

returns. For tax years beginning after

contact the IRS but no one has

Paid Preparer Authorization . . . . . . . .

2015, the due date for filing REIT returns

responded, or the IRS hasn't responded

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

generally is the 15th day of the 4th month

by the date promised.

Tax Payments . . . . . . . . . . . . . . . .

after the end of the REIT’s tax year.

The TAS tax toolkit at

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

Special rules apply for REITs with tax

can help

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

years ending in June. See When To File,

the REIT understand these rights.

later.

Accounting Methods . . . . . . . . . . . .

Accounting Period . . . . . . . . . . . . . .

Increase in penalty for failure to file.

TAS has offices in every state, the

Rounding Off to Whole Dollars . . . . . .

For returns required to be filed after

District of Columbia, and Puerto Rico.

Recordkeeping . . . . . . . . . . . . . . . .

Local advocates' numbers are in their

December 31, 2015, the minimum penalty

Other Forms That May Be

local directories and at

for failure to file a return that is over 60

Required . . . . . . . . . . . . . . . . .

days late has increased to the smaller of

/. The REIT

Statements . . . . . . . . . . . . . . . . . .

the tax due or $205. See Late filing of

can also call TAS at 1-877-777-4778.

Specific Instructions . . . . . . . . . . . . .

return, later.

TAS also works to resolve large-scale

Period Covered

. . . . . . . . . . . . . . .

Alternative tax for REITs with qualified

or systemic problems that affect many

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

timber gains. For tax years beginning in

taxpayers. If the REIT knows of one of

Item B. 100%-owned Subsidiaries

2016, an alternative tax may apply if a

these broad issues, please report it to TAS

and Personal Holding

REIT has both net capital gain and

through the Systemic Advocacy

Companies . . . . . . . . . . . . . . .

qualified timber gain (as defined in section

Management System at

Item C. Employer Identification

1201(b)(2)). See the instructions for

sams.

Number (EIN) . . . . . . . . . . . . . .

Schedule J, line 2a, later.

Item D. Date REIT Established . . . . . .

For more information, go to

Item E. Total Assets . . . . . . . . . . . . .

Photographs of Missing

advocate.

Item F. Final Return, Name

Children

Change, Address Change, or

How To Get Forms

Amended Return . . . . . . . . . . . .

The Internal Revenue Service is a proud

and Publications

Item G. Type of REIT . . . . . . . . . . . .

partner with the

National Center for

Item H. PBA Code (Equity REITs

Missing & Exploited Children®

(NCMEC).

Internet. You can access the IRS website

Only) . . . . . . . . . . . . . . . . . . .

Photographs of missing children selected

24 hours a day, 7 days a week, at

IRS.gov

Part I—Real Estate Investment

by the Center may appear in instructions

to:

Trust Taxable Income

. . . . . . . .

on pages that would otherwise be blank.

Download forms, instructions, and

Part II—Tax on Net Income From

You can help bring these children home

publications;

Foreclosure Property . . . . . . . .

by looking at the photographs and calling

Order IRS products online;

Part III—Tax for Failure To Meet

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

Research your tax questions online;

Certain Source-of-Income

recognize a child.

Search publications online by topic or

Requirements . . . . . . . . . . . . .

keyword;

Part IV—Tax on Net Income From

View Internal Revenue Bulletins (IRBs)

Prohibited Transactions . . . . . .

published in recent years; and

Schedule A—Deduction for

Dividends Paid . . . . . . . . . . . .

news by email.

Jan 26, 2017

Cat. No. 64243J

Instructions For Form 1120-Reit - 2016

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