Get the free Taxable REIT Subsidiary Election

Form 8875 Taxable REIT Subsidiary Election Department of the Treasury Internal Revenue Service Part I 1 OMB No. 15450123 (Under section 856(I)(1) of the Internal Revenue Code) (Rev. September 2014)

How to fill out taxable reit subsidiary election

How to fill out taxable reit subsidiary election

1. Step 1: Obtain the necessary forms and instructions for completing the taxable reit subsidiary election. These can be found on the official website of the tax authority or obtained from a tax professional.
2. Step 2: Read the instructions carefully to understand the requirements and implications of making this election.
3. Step 3: Gather all the relevant information and documents needed to complete the election form. This may include financial statements, tax identification numbers, and corporate governance information.
4. Step 4: Fill out the election form accurately and completely. Provide all the requested information and ensure that it is legible and error-free.
5. Step 5: Review the completed form for any mistakes or omissions. Double-check all the figures and supporting documentation to ensure accuracy.
6. Step 6: Sign and date the election form in the designated spaces. Check if any additional signature or authorization is required from other parties, such as company directors or trustees.
7. Step 7: Submit the completed election form to the appropriate tax authority within the specified deadline. Retain a copy of the form and any supporting documents for your records.
8. Step 8: Monitor the progress of your election. If there are any issues or concerns, follow up with the tax authority or seek professional advice.
9. Step 9: Once the election is approved, ensure compliance with all ongoing reporting and filing requirements related to the taxable reit subsidiary status.
10. Step 10: Regularly review and update your knowledge of tax laws and regulations to stay informed about any changes or updates that may affect your taxable reit subsidiary election or status.

Who needs taxable reit subsidiary election?

1. Real estate investment trusts (REITs) that have wholly-owned subsidiaries engaged in taxable activities may need to make a taxable reit subsidiary election. This election allows the subsidiary to be treated as a taxable entity separate from the REIT for federal income tax purposes.
2. By making this election, the subsidiary can potentially avoid the restrictions imposed on a REIT's ability to engage in certain activities considered non-qualifying income.
3. It is important for REITs that have subsidiaries engaging in taxable activities to evaluate the benefits and drawbacks of making the taxable reit subsidiary election. Consulting with tax professionals or legal advisors can help determine if this election is appropriate considering the specific circumstances and goals of the REIT.

For pdfFiller’s FAQs

How can I edit taxable reit subsidiary election on a smartphone?

You can easily do so with pdfFiller's apps for iOS and Android devices, which can be found at the Apple Store and the Google Play Store, respectively. You can use them to fill out PDFs. We have a website where you can get the app, but you can also get it there. When you install the app, log in, and start editing taxable reit subsidiary election, you can start right away.

How do I fill out the taxable reit subsidiary election form on my smartphone?

The pdfFiller mobile app makes it simple to design and fill out legal paperwork. Complete and sign taxable reit subsidiary election and other papers using the app. Visit pdfFiller's website to learn more about the PDF editor's features.

Can I edit taxable reit subsidiary election on an iOS device?

Create, modify, and share taxable reit subsidiary election using the pdfFiller iOS app. Easy to install from the Apple Store. You may sign up for a free trial and then purchase a membership.

What is taxable reit subsidiary election?

The taxable REIT subsidiary election is an election made by a subsidiary of a Real Estate Investment Trust (REIT) to be treated as a taxable corporation for federal income tax purposes.

Who is required to file taxable reit subsidiary election?

Any subsidiary of a REIT that wants to be treated as a taxable corporation for federal income tax purposes is required to file the taxable REIT subsidiary election.

How to fill out taxable reit subsidiary election?

The taxable REIT subsidiary election can be filed by completing and submitting Form 8868 to the IRS.

What is the purpose of taxable reit subsidiary election?

The purpose of the taxable REIT subsidiary election is to allow a subsidiary of a REIT to be subject to corporate income tax rates instead of being subject to the potentially higher REIT tax rates.

What information must be reported on taxable reit subsidiary election?

The taxable REIT subsidiary election must include information about the subsidiary, the REIT it is affiliated with, and details about the election being made.