Instructions for the RIC and the REIT
Box 1b. Enter the shareholder’s allocable portion of the amount
from box 1a that has been designated as unrecaptured section
1250 gain from the disposition of depreciable real property.
Box 1c. The section 1202 gain is the portion of box 1a that is
attributable to the sale or exchange by the RIC of qualified small
business stock issued after August 10, 1993, and held for more than
5 years. Enter the shareholder’s allocable portion of the amount
from box 1a attributable to a section 1202 gain. In addition, attach a
statement that reports separately for each designated section 1202
gain the following information: the amount of the section 1202 gain,
the name of the corporation that issued the stock, the dates on
which the RIC acquired and sold the stock, and the shareholder’s
portion of the RIC’s adjusted basis and sales price of the stock.
Box 1d. Enter the shareholder’s allocable portion of the amount
from box 1a attributable to collectibles gain (28% rate gain). Do not
include any section 1202 gain in box 1d.
Box 2. Enter the tax paid on the amount in box 1a.
Future developments. For the latest information about
developments related to Form 2439 and its instructions, such as
legislation enacted after they were published, go to www.irs.gov/
Paperwork Reduction Act Notice. We ask for the information on
this form to carry out the Internal Revenue laws of the United
States. You are required to give us the information. We need it to
ensure that you are complying with these laws and to allow us to
figure and collect the right amount of tax.
You are not required to provide the information requested on a
form that is subject to the Paperwork Reduction Act unless the form
displays a valid OMB control number. Books or records relating to a
form or its instructions must be retained as long as their contents
may become material in the administration of any Internal Revenue
law. Generally, tax returns and return information are confidential,
as required by section 6103.
The time needed to complete and file this form will vary depending
on individual circumstances. The estimated average time is:
Recordkeeping . . . . . . . . . . . . 3 hr., 6 min.
Learning about the law or the form . . . . . . . 47 min.
Preparing and sending
the form to the IRS . . . . . . . . . . . . . 52 min.
If you have comments concerning the accuracy of these time
estimates or suggestions for making this form simpler, we would be
happy to hear from you. You can write to the IRS at the address
listed in the Instructions for Form 1120-RIC or Form 1120-REIT.