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Real Estate
Jul. 3, 2001
REITS
CREJ Staff Report Last week, the IRS issued Revenue Ruling 2001-29, formally acknowledging that corporations may spin off their real estate holdings into a REIT in a tax-free transaction. Prior to 1986, such a spin-off could not be done if, following the spin-off, the real estate entity elected REIT status. Many companies, especially those with substantial real property holdings (e.g., in excess of $200 million), might now consider spinning off those assets under this new ruling.
CREJ Staff Report
Last week, the IRS issued Revenue Ruling 2001-29, formally acknowledging that corporations may spin off their real estate holdings into a REIT in a tax-free transaction. Prior to 1986, such a spin-off could not be done if, following the spin-off, the real estate entity elected REIT status. Many companies, especially those with substantial real property holdings (e.g., in excess of $200 million), might now consider spinning off those assets under this...
Last week, the IRS issued Revenue Ruling 2001-29, formally acknowledging that corporations may spin off their real estate holdings into a REIT in a tax-free transaction. Prior to 1986, such a spin-off could not be done if, following the spin-off, the real estate entity elected REIT status. Many companies, especially those with substantial real property holdings (e.g., in excess of $200 million), might now consider spinning off those assets under this...