Type PLR Subject 1.07 - Distribution of Accumulated C Corporation Earnings 11.01 - Generally 11.03 - Noncustomary Services 2.00 - Income Tests - (75% & 95%) 2.01a - Rents from Real Property - 75% Income Test - Generally 2.01b - Rents from Real Property - 75% Income Test - Permissible Services 2.08 - Gross Income Defined 2.10 - Dividends 4.01 - 75% Test 4.01a - Real Estate Assets 4.02 - 10% Test 4.07 - Real Estate Assets - 25% Test - Generally 6.01 - Distributions - Generally Keywords Asset Tests 75% Asset Test Billboard Rentals Controlled Foreign Corporation Dividends Paid Deduction Choice of Stock or Cash Earnings and Profits Distribution of, after Electing REIT Status, through Choice of Stock or Cash Easements Elective Stock Dividends Generally Accepted Accounting Principles Goodwill Gross Income Defined Reimbursements (Not Gross Income) phesluclushajowoniloneslatidot 1033(g) Impermissible Services Income Tests 95%/75% Lease Rights Leases Licenses Permissible Tenant Services Independent Contractor Permits Real Estate Asset Intangible Loan to TRS Secured by Real Estate Not a "Security" Reimbursements Rents from Real Property Billboard, Space for Section 1033(g) Subpart F Income Taxable REIT Subsidiary Loan Secured by Real Estate Not a "Security" Year 2014 IRS Link http://www.irs.gov/pub/irs-wd/201431020.pdf Tax Report Link TaxReport (September 2, 2014) Summary REIT earns qualifying rent from billboards Title 201431020