26 U.S.C. § 858
§ 858. Dividends paid by real estate investment trust after close of taxable year
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1960 by the Public Law 86-779. Last changed December 19, 2014 by the Tax Increase Prevention Act of 2014.
Every change, newest first (5)
- December 19, 2014Tax Increase Prevention Act of 2014
- November 10, 1988Technical and Miscellaneous Revenue Act of 1988
- October 22, 1986Tax Reform Act of 1986
- October 4, 1976Tax Reform Act of 1976
- September 14, 1960Public Law 86-779 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
For purposes of this part, if a real estate investment trust—
declares a dividend before the time prescribed by law for the filing of its return for a taxable year (including the period of any extension of time granted for filing such return), and
distributes the amount of such dividend to shareholders or holders of beneficial interests in the 12-month period following the close of such taxable year and not later than the date of the first regular dividend payment made after such declaration,
the amount so declared and distributed shall, to the extent the trust elects in such return (and specifies in dollar amounts) in accordance with regulations prescribed by the Secretary, be considered as having been paid only during such taxable year, except as provided in subsections (b) and (c).
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.
In the case of amounts to which subsection (a) applies, any notice to shareholders or holders of beneficial interests required under this part with respect to such amounts shall be made not later than 30 days after the close of the taxable year in which the distribution is made (or mailed to its shareholders or holders of beneficial interests with its annual report for the taxable year).