26 U.S.C. § 859
Adoption of annual accounting period
# (a) General rule
For purposes of this subtitle— (1) a real estate investment trust shall not change to any accounting period other than the calendar year, and (2) a corporation, trust, or association may not elect to be a real estate investment trust for any taxable year beginning after October 4, 1976 , unless its accounting period is the calendar year. Paragraph (2) shall not apply to a corporation, trust, or association which was considered to be a real estate investment trust for any taxable year beginning on or before October 4, 1976 .
# (b) Change of accounting period without approval
Notwithstanding section 442, an entity which has not engaged in any active trade or business may change its accounting period to a calendar year without the approval of the Secretary if such change is in connection with an election under section 856(c).
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Cited by 25
- 26 CFR § 1.441-1 — Period for computation of taxable income.
- 26 CFR § 1.442-1 — Change of annual accounting period.
- 26 CFR § 1.706-1 — Taxable years of partner and partnership.
- 26 CFR § 1.856-0 — Revenue Act of 1978 amendments not included.
- 26 CFR § 1.856-1 — Definition of real estate investment trust.
- 26 CFR § 1.856-2 — Limitations.
- 26 CFR § 1.856-3 — Definitions.
- 26 CFR § 1.856-4 — Rents from real property.
- 26 CFR § 1.856-5 — Interest.
- 26 CFR § 1.856-6 — Foreclosure property.
- 26 CFR § 1.856-7 — Certain corporations, etc., that are considered to meet the gross income requirements.
- 26 CFR § 1.856-8 — Revocation or termination of election.
Show 13 more
- 26 CFR § 1.857-1 — Taxation of real estate investment trusts.
- 26 CFR § 1.857-10 — Information returns.
- 26 CFR § 1.857-2 — Real estate investment trust taxable income and net capital gain.
- 26 CFR § 1.857-3 — Net income from foreclosure property.
- 26 CFR § 1.857-4 — Tax imposed by reason of the failure to meet certain source-of-income requirements.
- 26 CFR § 1.857-5 — Net income and loss from prohibited transactions.
- 26 CFR § 1.857-6 — Method of taxation of shareholders of real estate investment trusts.
- 26 CFR § 1.857-7 — Earnings and profits of a real estate investment trust.
- 26 CFR § 1.857-8 — Records to be kept by a real estate investment trust.
- 26 CFR § 1.857-9 — Information required in returns of shareholders.
- 26 CFR § 1.858-1 — Dividends paid by a real estate investment trust after close of taxable year.
- 26 CFR § 1.860-5 — Effective date.
- 26 CFR § 301.9100-12T — Various elections under the Tax Reform Act of 1976.
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- 859 · Adoption of annual accounting period
- 860 · Deduction for deficiency dividends
- 860A · Taxation of REMIC’s
- 860B · Taxation of holders of regular interests
- 860C · Taxation of residual interests
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