2002-03

Type

Rev Rul

Subject

11.00 - Taxable REIT Subsidiary (TRS)

Keywords

Permissible Tenant Services

Ruling by Property Type

Apartments

Taxable REIT Subsidiary

Excise Tax

Applicable

Safe Harbor

Noncustomary Services, Paid for by REIT

Year

2002

IRS Link

http://www.irs.gov/pub/irs-irbs/irb02-25.pdf

Summary

All payments from tenants to a REIT qualified as rents from real property. Apply normal § 482 rules to REIT and TRS despite safe harbor.

Title

2002-38

Guidance Tags

Rev Rul - 2002-38

Referenced By

200532009; 201334033; 201423011

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What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

About Nareit

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.

2002-03

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