Form 1120-REIT (2019)
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Tax and Payments
22 Real estate investment trust taxable income. Subtract line 21d from line 20 . . . . . . . 22
23 Total tax (Schedule J, line 7) . . . . . . . . . . . . . . . . . . . . . . . 23
24 2019 Net 965 tax liability paid from Form 965-B, Part II, column (k), line 3 . . . . . . . . . 24
25 Payments:
a 2018 overpayment credited to 2019 . . . 25a
b 2019 estimated tax payments . . . . . 25b
c Less 2019 refund applied for on Form 4466 25c
( )
d Bal
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25d
e Tax deposited with Form 7004 . . . . . . . . . . . . . . . 25e
f Credits: (1) Form 2439 (2) Form 4136 25f
g Refundable credit from Form 8827, line 5c . . . . . . . . . . . 25g
h 2019 Net 965 tax liability from Form 965-B, Part I, column (d), line 3 . . 25h 25i
26 Estimated tax penalty (see instructions). Check if Form 2220 is attached . . . . . . .
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26
27 Tax due. If line 25i is smaller than the total of lines 23, 24, and 26, enter amount owed . . . . 27
28 Overpayment. If line 25i is larger than the total of lines 23, 24, and 26, enter amount overpaid . . 28
29
Enter amount of line 28 you want:
Credited to 2020 estimated tax
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Refunded
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29
Part II—Tax on Net Income From Foreclosure Property (Section 856(e)) (see instructions)
1 Net gain or (loss) from the sale or other disposition of foreclosure property described in section
1221(a)(1) (attach statement) . . . . . . . . . . . . . . . . . . . . . . .
1
2 Gross income from foreclosure property (see instructions—attach statement) . . . . . . . 2
3 Total income from foreclosure property. Add lines 1 and 2 . . . . . . . . . . . . . . 3
4 Deductions directly connected with the production of income shown on line 3 (attach statement) . 4
5 Net income from foreclosure property. Subtract line 4 from line 3 . . . . . . . . . . . 5
6 Tax on net income from foreclosure property. Multiply line 5 by 21% (0.21). Enter here and on
Schedule J, line 2b . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
Part III—Tax for Failure To Meet Certain Source-of-Income Requirements (Section 857(b)(5)) (see instructions)
1 a Enter total income from Part I, line 8 . . . . . . . . . . . . . 1a
b Enter total income from foreclosure property from Part II, line 3 . . . . 1b
c Total. Add lines 1a and 1b . . . . . . . . . . . . . . . . . . . . . . . . 1c
2a Enter income from hedging transactions referred to in section 856(c)(5)(G) 2a
b
Enter income from passive foreign exchange gain referred to in section
856(n)(3). See instructions
. . . . . . . . . . . . . . . .
2b
c
Enter income from sources referred to in section 856(c)(5)(J)(i). See instructions
2c
d Enter the net section 965(a) inclusion reported in Part l. See instructions . 2d
e Subtract lines 2a, 2b, 2c, and 2d from line 1c . . . . . . . . . . 2e
f Multiply line 2e by 95% (0.95) . . . . . . . . . . . . . . . . . . . . . . . 2f
3 Enter income on line 1c from sources referred to in section 856(c)(2) . . . . . . . . . . 3
4 Subtract line 3 from line 2f. (If zero or less, enter -0-.) . . . . . . . . . . . . . . . 4
5 a Enter income from hedging transactions referred to in section 856(c)(5)(G) 5a
b Enter income from real estate foreign exchange gain referred to in section
856(n)(2). See instructions . . . . . . . . . . . . . . . .
5b
c
Enter income from sources referred to in section 856(c)(5)(J)(i). See instructions
5c
d Enter the net section 965(a) inclusion reported in Part l. See instructions . 5d
e Subtract lines 5a, 5b, 5c, and 5d from line 1c . . . . . . . . . . 5e
f Multiply line 5e by 75% (0.75) . . . . . . . . . . . . . . . . . . . . . . . 5f
6 Enter income on line 1c from sources referred to in section 856(c)(3) . . . . . . . . . . 6
7 Subtract line 6 from line 5f. (If zero or less, enter -0-.) . . . . . . . . . . . . . . . 7
8 Enter the greater of line 4 or line 7. (If line 8 is zero, do not complete the rest of Part III.) . . . 8
9 Enter the amount from Part I, line 20 . . . . . . . . . . . . . . . . . . . . . 9
10 Enter the net capital gain from Schedule D (Form 1120), line 17 . . . . . . . . . . . . 10
11 Subtract line 10 from line 9 . . . . . . . . . . . . . . . . . . . . . . . . 11
12a Enter total income from Part I, line 8 . . . . . . . . . . . . . 12a
b Enter the net short-term capital gain from Schedule D (Form 1120), line 7.
(If line 7 is a loss, enter -0-.) . . . . . . . . . . . . . . . .
12b
c Add lines 12a and 12b . . . . . . . . . . . . . . . . . . . . . . . . . 12c
13 Enter capital gain net income from Part I, line 5 . . . . . . . . . . . . . . . . . 13
14 Subtract line 13 from line 12c . . . . . . . . . . . . . . . . . . . . . . . 14
15 Divide line 11 by line 14. Carry the result to five decimal places . . . . . . . . . . . . 15
.
16 Section 857(b)(5) tax. Multiply line 8 by line 15. Enter here and on Schedule J, line 2c . . . .
16
Form 1120-REIT (2019)