Type PLR Subject 6.03 - Capital Gains Keywords Distributions Capital Gains Designation of Distributions as Capital Gain Dividend (to Preserve Net Operating Loss Notwithstanding Insufficient Earnings and Profits for Ordinary Dividend) Earnings and Profits Capital Gain Dividend Notwithstanding Insufficient Earnings and Profits for Ordinary Dividend REIT Taxable Income Capital Gain in Loss Year Net Operating Loss Year 2005 IRS Link http://www.irs.gov/pub/irs-wd/0534013.pdf Summary Capital gain dividend does not offset net operating loss. Title 200534013 Guidance Tags PLR - 200534013 Referenced By N/A