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Form 1120-REIT Birmingham Alabama: What You Should Know

IRS.gov Web Service for Real Estate Investment Trust Tax Return Information I do not have a paper form to file, yet I want to report my taxable income from a Real Estate Investment Trust (REIT). How do I get a paper form I need to send to the IRS? Call or visit  Why do I need to have a federal tax ID? You are responsible for all taxes and payments made to you on behalf of the real estate trust, so having a federal tax ID will be necessary when reporting your investment income. The IRS can issue you a Form 1099-C, ​Reassessment Notice ​, when you have a valid federal tax ID. If you need to report more than the IRS allows from a trust, you can get a 1099-EZ, ​Association Statement ​, by sending a written request to the IRS or calling. Your request for this form must be signed and the form needs to be postmarked before January 31st of the following year. What is an FRA? There is an acronym for the Federal Real Estate Investment Real Estate Interest (FIRE), which stands for: Federal Real Estate Investment Rental Interest, FRA, and can be found in Title 26, Section 1503: (i) A Real Estate Investment Trust (REIT), including any subsidiary, controlled foreign investment company (CFC) and any trust company or foreign entity engaged primarily in acquiring, holding, improving, managing or developing real estate and providing related services shall be considered an FRA for purposes of this part and for any rules or regulations prescribed by the Secretary of the Treasury (Secretary). (ii) An FRA is treated as an agent for an LLC and any other entity required to file its report of income, employment, and wages pursuant to subsection (h)(3) or subsection (h)(5) of section 1321(d) of this title. Is the REIT taxed? As a special case, a REIT can be included in a tax deduction for qualifying mortgage interest on investment properties for which it pays a mortgage penalty in lieu of a capital leasehold interest. As an FRA, you do not need a mortgage on these properties, rather you pay the penalty.

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