Independent form guide. BrieflyGo is not affiliated with or endorsed by IRS, USCIS, SSA, DOL, or any U.S. government agency. Official forms are sourced from public government websites.
Official form guide
Form 1120-REI: 1120-REIT
IRS Form 1120-REIT is the U.S. Income Tax Return for Real Estate Investment Trusts, used to report income, gains, losses, deductions, credits, and compute tax liability. It must be filed by corporations, trusts, or associations that elect REIT status. Late filing penalties include 5% per month up to 25% of unpaid tax, with a minimum $525 penalty for returns over 60 days late in 2026.
Need help with Form 1120-REI?
Open it in the AI Editor for field guidance, checks, and PDF export.
Need help? AI Editor guides you through every field of Form 1120-REI.
Start filling →Form Overview
IRS Form 1120-REI - 1120-REIT
IRS Form 1120-REIT is the U.S. Income Tax Return for Real Estate Investment Trusts, used to report income, gains, losses, deductions, credits, and compute tax liability. It must be filed by corporations, trusts, or associations that elect REIT status. Late filing penalties include 5% per month up to 25% of unpaid tax, with a minimum $525 penalty for returns over 60 days late in 2026.
Risk Radar
Scan points- 1Late filing penalty: 5% per month up to 25% of unpaid tax, minimum $525 if over 60 days late.
- 2Not attaching Form 8996 when self-certifying as a qualified opportunity fund.
- 3Failing to report every sale or exchange of a capital asset on Schedule D (Form 1120).
- 4Not reducing salaries and wages by credits claimed on Forms 5884, 8844, 8932, or 8994.
- 5Entering the wrong amount on line 8 (greater of line 4 or line 7) in Part III.
Plain English
This form is for real estate investment trusts (REITs) to report their income and expenses and figure out how much tax they owe. It also reports capital gains and losses. Only businesses that choose to be treated as a REIT for tax purposes need to file this form.
Submission Date
- Filing date: 2026-01-30 15:10:37
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
AI co-pilot
Fill it faster. Catch mistakes before you file.
What this form is for
- Use this form when the entity is a corporation, trust, or association that elects to be treated as a REIT for the tax year or has a prior election that has not been terminated or revoked.
- Do not use it when the entity does not meet the REIT conditions under section 856 or has not made the election.
- Check Form 1120 instead when the entity is a corporation that does not elect REIT status.
Form selector
Use this form or another form?
Corporation not electing REIT status
Non-REIT corporations must file Form 1120 instead of Form 1120-REIT.
✓ Confirm REIT election is in effect for the tax year.
REIT self-certifying as qualified opportunity fund
Must attach Form 8996 to Form 1120-REIT to self-certify as QOF.
✓ See Schedule K, Question 12 and Instructions for Form 8996.
REIT claiming energy efficient commercial buildings deduction
Attach Form 7205 to claim the deduction under section 179D.
✓ See Instructions for Form 7205.
REIT with limitation on business interest expense
Use Form 8990 to calculate deductible business interest under section 163(j).
✓ See Form 8990 instructions.
Deadline or filing window
The official source does not specify the due date for Form 1120-REIT. However, an extension of time to file can be requested by filing Form 7004 by the regular due date. Interest is charged on taxes paid late even if an extension is granted.
Checklist
What you need before filling it out
Item G: Type of REIT
Primary source of gross receipts (mortgage interest/fees vs. other) · Financial records, rent rolls, loan portfolios
Line 2: Interest
Interest income details (U.S. obligations, loans, bonds, etc.) · Bank statements, Form 1099-INT
Line 3: Gross rents
Rental income including customary services (e.g., parking) · Lease agreements, rent rolls
Schedule K, line 8: Tax-exempt interest
Tax-exempt interest income · Bond statements, tax-exempt interest reports
Line 18: Energy efficient commercial buildings deduction
Completed Form 7205 and supporting documentation · Building energy audits, Form 7205 instructions
Line 19: Other deductions
Statement listing type and amount of each deduction · Expense records, receipts
Amended Return box
Explanation of amendments and identification of changed lines · Prior return, correction details
Before you submit
- 1Complete every applicable entry space on Form 1120-REIT; do not enter 'See attached'.
- 2Attach required schedules and forms in the order specified (Schedule N, Schedule D, Form 8949, etc.).
- 3Enter the REIT's name and EIN on each supporting statement or attachment.
- 4If amending, check the 'Amended Return' box, complete the entire return, correct the appropriate lines, and attach an explanation.
- 5Check the appropriate box for Type of REIT (Mortgage or Equity) based on primary source of gross receipts.
- 6Calculate the tax liability and pay any tax due in full by the due date (not including extensions).
- 7Sign and date the return.
- 8If filing electronically after mid-February 2026, follow e-file procedures and retain the acknowledgment.
- 9Keep a copy of the filed return and all attachments for your records.
How to file this form
- 1Gather all income, gain, loss, deduction, and credit records for the tax year.
- 2Complete Form 1120-REIT, including all applicable schedules and attachments (e.g., Schedule D, Form 8949, Form 8996).
- 3Attach required forms in the order listed on page 3-4 of the instructions.
- 4Calculate the tax liability and pay any amount due by the due date (not including extensions).
- 5Sign and date the return.
- 6File the return by the due date (including extensions if applicable) via mail or electronically after mid-February 2026.
- 7Retain a copy of the filed return and all supporting documents as proof of filing.
Known limitations
- 1Form 1120-REIT is only for entities that meet the REIT conditions under section 856 and have made the election; non-electing corporations must file Form 1120.
- 2The form cannot be used if the REIT election has been terminated or revoked.
- 3Qualified opportunity funds that are not also REITs should not file Form 1120-REIT; they attach Form 8996 to their applicable return.
- 4The form does not apply to partnerships, S corporations, or tax-exempt organizations (not covered in the source).
Field map
Compact field-by-field guide
Entity Info
2 items
Full legal name of the corporation and its Employer Identification Number.
Current mailing address and date of incorporation.
Income
3 items
Total revenue from business operations before deducting costs.
Direct costs attributable to producing goods sold by the corporation.
Gross receipts minus cost of goods sold and returns/allowances.
Deductions
1 items
Sum of all business expenses including compensation, rent, interest, taxes, and depreciation.
Tax
2 items
Total income minus total deductions.
Tax calculated on taxable income using the applicable corporate tax rate, minus any credits.
Signatures
1 items
An authorized corporate officer must sign and date the return.
Almost done reviewing the fields?
Fillable formOpen in Editor->The 2025 edition of Form 1120-REIT (revision 20/25) is current; the instructions direct filers to IRS.gov/Form1120REIT for future developments. Changes include electronic filing availability starting mid-February 2026 and an increased minimum penalty of $525 for returns over 60 days late in 2026.
What changed or needs a fresh check
- Edition date — confirm the form revision is 2025 (20 25) as shown on the instructions.
- Fee — not stated in the official source; verify if any payment is required on IRS.gov.
- Mailing address — not stated in the official source; verify the correct address on IRS.gov.
- Signature — sign the return before sending; keep a copy.
- Electronic filing — beginning mid-February 2026, REITs can file electronically; check IRS.gov/Form1120REIT for availability.
- Penalty — minimum $525 for returns over 60 days late in 2026; ensure timely filing.
Quick Facts
Downloads
After you file
- 1Retain a copy of the filed return and all attachments for at least 3 years (or longer if required by law).
- 2If you filed by mail, use certified mail or a private delivery service for proof of mailing.
- 3If you filed electronically, save the electronic acknowledgment.
- 4If you discover an error after filing, file an amended return using Form 1120-REIT with the 'Amended Return' box checked and attach an explanation.
- 5If your address or responsible party changes after filing, submit Form 8822-B to notify the IRS.
- 6Monitor IRS correspondence for any notices regarding the return and respond promptly.
- 7If you underpaid tax, pay the additional amount with interest and penalties as applicable.
Sources
- SRCInstructions p.1 — Future Developments link to IRS.gov/Form1120REIT for latest information.
- SRCInstructions p.1 — Electronic filing begins mid-February 2026.
- SRCInstructions p.1 — Minimum penalty for failure to file over 60 days late increased to $525 for returns filed in 2026.
- SRCInstructions p.2 — Purpose of Form: report income, gains, losses, deductions, credits, and figure tax liability of a REIT.
- SRCInstructions p.2 — Who Must File: corporation, trust, or association that meets conditions and elects REIT treatment.
- SRCInstructions p.2 — Qualified opportunity funds: must attach Form 8996 even if no income.
- SRCInstructions p.4 — Complete every applicable entry space; do not enter 'See attached'.
- SRCInstructions p.4 — Tax payments due no later than due date (not including extensions).
- SRCInstructions p.8 — If amending, check Amended Return box, complete entire return, attach explanation.
- SRCInstructions p.8 — Item G: Type of REIT based on primary source of gross receipts.
- SRCInstructions p.9 — Line 2: Interest; do not offset interest expense against interest income.
- SRCInstructions p.11 — Line 18: Energy efficient commercial buildings deduction; attach Form 7205.
Common confusion points
Should I check Mortgage or Equity REIT?
The distinction depends on the primary source of gross receipts.
→ Review gross receipts: if primarily from mortgage interest and fees, check Mortgage; otherwise check Equity.
Can I offset interest expense against interest income?
Instructions explicitly say do not offset.
→ Report interest income gross on line 2 and deduct interest expense separately.
Do I need to attach Form 8996 if I am a QOF?
Yes, if the REIT self-certifies as a qualified opportunity fund.
→ See Schedule K, Question 12 and Instructions for Form 8996.
What if I file late?
Penalties apply; minimum $525 for returns over 60 days late in 2026.
→ File as soon as possible and pay any tax due to minimize penalties.
Can I file electronically?
Electronic filing begins mid-February 2026.
→ Check IRS.gov/Form1120REIT for availability.
What if I need more space on the form?
Attach separate sheets using the same size and format.
→ Show totals on printed forms and attach sheets in the order they support.
Do I need to include tax-exempt interest on line 2?
No, report tax-exempt interest on Schedule K, line 8.
→ Check Schedule K, line 8 and include on Schedule M-1 line 7 if required.
What if I am amending the return?
Check the Amended Return box, complete entire return, correct lines, and attach explanation.
→ Attach statement explaining reasons and identifying changed lines.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 1120-REIT (Amended Return) to correct errors.
Questions about IRS Form 1120-REI
What is IRS Form 1120-REI used for?
This form is for real estate investment trusts (REITs) to report their income and expenses and figure out how much tax they owe. It also reports capital gains and losses. Only businesses that choose to be treated as a REIT for tax purposes need to file this form.
Who must file IRS Form 1120-REI?
A corporation, trust, or association that elects to be treated as a REIT for the tax year (or has made that election for a prior tax year and it has not been terminated or revoked) must file Form 1120-REIT.
What information does IRS Form 1120-REI require?
The form collects information on income, gains, losses, deductions, credits, certain penalties, and tax liability. It includes Part I for income, Part III for tax computation, and requires Schedule D (Form 1120) for capital gains. If self-certifying as a qualified opportunity fund, attach Form 8996.
How do I complete IRS Form 1120-REI?
Complete Parts I through IV and all applicable schedules, including Schedule D (Form 1120) for capital gains. If total receipts are $500,000 or more, attach Form 1125-E. The return must be signed and dated by an authorized officer (president, vice president, treasurer, assistant treasurer, chief accounting officer, or other authorized corporate officer). Attach Form 8996 if self-certifying as a qualified opportunity fund.
What happens if IRS Form 1120-REI is filed incorrectly?
Filing late can result in a penalty of 5% of the unpaid tax for each month or part of a month the return is late, up to 25% of the unpaid tax. For returns required to be filed in 2026 that are over 60 days late, the minimum penalty is the smaller of the tax due or $525. Interest is also charged on taxes paid late.
Should I check Mortgage or Equity REIT?
The distinction depends on the primary source of gross receipts. Review gross receipts: if primarily from mortgage interest and fees, check Mortgage; otherwise check Equity.
Can I offset interest expense against interest income?
Instructions explicitly say do not offset. Report interest income gross on line 2 and deduct interest expense separately.
Do I need to attach Form 8996 if I am a QOF?
Yes, if the REIT self-certifies as a qualified opportunity fund. See Schedule K, Question 12 and Instructions for Form 8996.
Source transparency
Copyright & Licensing - US Government Forms
BrieflyGo links to and explains official public form sources. We are not a government agency, and this page is for general form guidance, not legal advice.
Understand the agreement before you sign it.
Review risky clauses in plain English, fix the document, and keep it moving toward signature.