26 U.S.C. § 860A
Taxation of REMIC’s
# (a) General rule
Except as otherwise provided in this part, a REMIC shall not be subject to taxation under this subtitle (and shall not be treated as a corporation, partnership, or trust for purposes of this subtitle).
# (b) Income taxable to holders
The income of any REMIC shall be taxable to the holders of interests in such REMIC as provided in this part.
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