2007-06

Type

PLR

Subject

2.08 - Gross Income Defined

2.08a - Generally

Keywords

Gross Income

Defined

Determined under 1.856-3(g) when REIT Holds Partnership Interest

Partnerships

Tiered Partnerships

Year

2007

IRS Link

http://www.irs.gov/pub/irs-wd/0705019.pdf

Summary

REIT's allocable share of gross income from rent paid by one indirectly owned flow through entity to another disregarded to the extent of the former entity's deductions for rent.

Title

200705019

Guidance Tags

PLR - 200705019

Referenced By

N/A

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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.

2007-06

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