§857. Taxation of real estate investment trusts and their beneficiaries — Inbound Citations
26 U.S.C. § 857
Cited by 27 provisions in release 119-102.
Citations to 26 U.S.C. § 857 as a whole
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(a) If a determination with respect to any qualified investment entity results in any adjustment for any taxable year, a deduction shall be allowed to such entity for the amount of deficiency dividends for purposes of determining the deduction for dividends paid (for purposes of section 852 or 857, whichever applies) for such year.
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(B) any increase in the amount of the excess described in section 857(b)(3)(A)(ii)1 (relating to the excess of the net capital gain over the deduction for capital gains dividends paid), and
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(B) any amount on which tax is imposed under subsection (b)(1) or (b)(3)(A)1 of section 857 for any taxable year ending in such calendar year.
Citations to §857(b)
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(B) if the real estate investment trust elects the application of this subparagraph, notwithstanding subsection (a), any amount required to be taken into account under section 951(a)(1) by reason of this section shall, in lieu of the taxable year in which it would otherwise be included in gross income (for purposes of the computation of real estate investment trust taxable income under section 857(b)), be included in gross income as follows:(i) 8 percent of such amount in the case of each of the taxable years in the 5-taxable year period beginning with the taxable year in which such amount would otherwise be included.(ii) 15 percent of such amount in the case of the 1st taxable year following such period.(iii) 20 percent of such amount in the case of the 2nd taxable year following such period.(iv) 25 percent of such amount in the case of the 3rd taxable year following such period.
Citations to §857(b)(2)
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(A) the net operating loss for such taxable year shall be computed by taking into account the adjustments described in section 857(b)(2) (other than the deduction for dividends paid described in section 857(b)(2)(B));
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(B) where such taxable year is a “prior taxable year” referred to in paragraph (2) of subsection (b), the term “taxable income” in such paragraph shall mean “real estate investment trust taxable income” (as defined in section 857(b)(2)); and
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(C) subsection (a)(2)(B)(ii)(I) shall be applied by substituting “real estate investment trust taxable income (as defined in section 857(b)(2) but without regard to the deduction for dividends paid (as defined in section 561))” for “taxable income”.
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(B) the real estate investment trust taxable income (within the meaning of section 857(b)(2), excluding any net capital gain),
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(1) The term “ordinary income” means the real estate investment trust taxable income (as defined in section 857(b)(2)) determined—(A) without regard to subparagraph (B) of section 857(b)(2),(B) by not taking into account any gain or loss from the sale or exchange of a capital asset, and(C) by treating the calendar year as the trust’s taxable year.
Citations to §857(b)(2)(B)
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(A) the net operating loss for such taxable year shall be computed by taking into account the adjustments described in section 857(b)(2) (other than the deduction for dividends paid described in section 857(b)(2)(B));
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(A) without regard to subparagraph (B) of section 857(b)(2),
Citations to §857(b)(2)(C)
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(4) The taxable income of a real estate investment trust, see section 857(b)(2)(C).
Citations to §857(b)(2)(D)
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(A) the deduction for dividends paid (as defined in section 561) during such calendar year (but computed without regard to that portion of such deduction which is attributable to the amount excluded under section 857(b)(2)(D)), and
Citations to §857(b)(3)
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(A) is not a capital gain dividend, as defined in section 857(b)(3), and
Citations to §857(b)(3)(F)
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(ii) in the case of any other person, such distribution shall be treated under section 857(b)(3)(F)1 as a dividend from a real estate investment trust notwithstanding any other provision of this title.
Citations to §857(b)(4)(A)
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(ii) the excess of the net income from foreclosure property (as defined in section 857(b)(4)(B)) over the tax on such income imposed by section 857(b)(4)(A),
Citations to §857(b)(4)(B)
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(ii) the excess of the net income from foreclosure property (as defined in section 857(b)(4)(B)) over the tax on such income imposed by section 857(b)(4)(A),
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(2) For purposes of this part, the term “net income from foreclosure property” means the amount which would be the REMIC’s net income from foreclosure property under section 857(b)(4)(B) if the REMIC were a real estate investment trust.
Citations to §857(b)(6)
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(H) gain from the sale or other disposition of a real estate asset which is not a prohibited transaction solely by reason of section 857(b)(6); and
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(H) gain from the sale or other disposition of a real estate asset (other than a nonqualified publicly offered REIT debt instrument) which is not a prohibited transaction solely by reason of section 857(b)(6); and
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(1) Solely for purposes of subsection (c) of this section and section 857(b)(6), any income derived from a shared appreciation provision shall be treated as gain recognized on the sale of the secured property.
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(2) For purposes of applying subsection (c) of this section and section 857(b)(6) to any income described in paragraph (1)—(A) the real estate investment trust shall be treated as holding the secured property for the period during which it held the shared appreciation provision (or, if shorter, for the period during which the secured property was held by the person holding such property), and(B) the secured property shall be treated as property described in section 1221(a)(1) if it is so described in the hands of the person holding the secured property (or it would be so described if held by the real estate investment trust).
Citations to §857(b)(6)(C)
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(3) For purposes of section 857(b)(6)(C)—(A) the real estate investment trust shall be treated as having sold the secured property when it recognizes any income described in paragraph (1), and(B) any expenditures made by any holder of the secured property shall be treated as made by the real estate investment trust.
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(A) For purposes of section 857(b)(6)(C), if a real estate investment trust is treated as having sold secured property under paragraph (3)(A), the trust shall be treated as having held such property for at least 4 years if—(i) the secured property is sold or otherwise disposed of pursuant to a case under title 11 of the United States Code,(ii) the seller is under the jurisdiction of the court in such case, and(iii) the disposition is required by the court or is pursuant to a plan approved by the court.
Citations to §857(b)(9)
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(b) Except as provided in section 857(b)(9), amounts to which subsection (a) applies shall be treated as received by the shareholder or holder of a beneficial interest in the taxable year in which the distribution is made.
Citations to §857(d)(1)
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(B) section 857(d)(1) shall be applied without regard to subparagraph (B) thereof.
Citations to §857(f)(1)
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(1) which for a taxable year meets the requirements of section 857(f)(1), and