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IRSCorporate Tax (1120 Series)

Official form guide

Form 1120-REI: 1120-REIT

Form 1120‑REI is the U.S. Income Tax Return for Real Estate Investment Trusts (REITs). Use it to report a REIT’s taxable income, deductions, and tax liability for a calendar year.

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Form Overview

IRS Form 1120-REI - 1120-REIT

Form 1120‑REI is the U.S. Income Tax Return for Real Estate Investment Trusts (REITs). Use it to report a REIT’s taxable income, deductions, and tax liability for a calendar year.

The form captures total revenue, rental and interest income, operating expenses, depreciation, gains or losses on property sales, and the calculation of taxable REIT income.

Risk Radar

Scan points
  • 1A single math error can turn a qualified REIT into a non‑qualified entity and trigger hefty penalties.
  • 2Incorrect depreciation method or life used
  • 3Omitting non‑rental income (e.g., interest, royalties)
  • 4Misclassifying expenses that are not deductible for REITs
  • 5Failing to attach Schedule I or J

Plain English

A REIT files this return to tell the IRS how much money it earned from real‑estate activities, what expenses it had, and whether it owes any corporate tax. It’s required every year even if the REIT paid no tax because most REIT income is passed through to shareholders.

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.

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Glossary Terms

income taxliabilityinterestincomemoney

Hover a term to preview the meaning.

What this form is for

  • Use when filing a corporate tax return for a qualified REIT.
  • Do not use for REIT subsidiaries that file as regular corporations.
  • If the entity is a publicly traded REIT, also review Form 1120‑REIT‑C.

Form selector

Use this form or another form?

REIT subsidiary that does not meet qualification

Standard corporate return, no REIT schedules

✓ Confirm subsidiary status before filing

Form 1120

Foreign REIT with U.S. source income

U.S. corporate return for foreign corporations

✓ Verify foreign tax credit eligibility

Form 1120‑F

Deadline or filing window

Form 1120‑REI is due by the 15th day of the fourth month after the REIT’s tax year ends (April 15 for calendar‑year filers). An automatic six‑month extension can be requested by filing Form 7004 before the original deadline. No later extensions are permitted without IRS approval.

  • —Total rental income | sum of line 1a‑1c | Gross rental revenue | Verify all property accounts are included
  • —Depreciation expense | schedule calculation | Total depreciation | Use correct MACRS class life

Checklist

What you need before filling it out

1

Line 1 – Gross income

Audited financial statements · Income statement

⚠ Often omitted non‑rental income✕ Medium
2

Schedule I – Rental income

Lease contracts · Rental agreements

⚠ Double‑counting same lease✕ High
3

Schedule J – Deductions

Expense ledger · General ledger

⚠ Non‑deductible personal expenses✕ Medium
4

Depreciation worksheet

Asset register · Fixed‑asset schedule

⚠ Wrong recovery period✕ High
5

Taxable REIT income calculation

Tax computation worksheet · Internal tax work‑paper

⚠ Arithmetic errors✕ High

Before you submit

  1. 1Confirm form edition matches filing year
  2. 2Verify EIN and REIT legal name
  3. 3Reconcile totals with audited financial statements
  4. 4Check depreciation schedules for correct class lives
  5. 5Attach completed Schedule I and Schedule J
  6. 6Ensure all required signatures and dates are present
  7. 7If filing paper, use the correct IRS mailing address
  8. 8If filing electronically, receive an acceptance confirmation
  9. 9Retain a copy of the filed return and all supporting schedules
  10. 10Record the filing date and any extension approval

How to file this form

  1. 1Gather audited financial statements, depreciation schedules, and property sale documents.
  2. 2Complete Schedule I (Income) and Schedule J (Deductions) on the form.
  3. 3Transfer subtotals to the main 1120‑REI pages and calculate taxable REIT income.
  4. 4Review all calculations, attach required schedules, and sign the return.
  5. 5File electronically via MeF or mail the paper return to the address in the instructions.
  6. 6Save the electronic acknowledgment or certified mailing receipt.

Known limitations

  1. 1The form does not calculate the 90% distribution requirement; a separate compliance test is needed.
  2. 2Depreciation rules change annually; the form assumes the correct MACRS tables are applied.
  3. 3Electronic filing may be unavailable for certain older tax years.
  4. 4The instructions provide examples but not exhaustive edge‑case guidance.

Field map

Compact field-by-field guide

9 fields

Entity Info

2 items

Corporation Name and EIN

Full legal name of the corporation and its Employer Identification Number.

Requiredtext
Address and Date Incorporated

Current mailing address and date of incorporation.

Requiredtext

Income

3 items

Gross Receipts or Sales

Total revenue from business operations before deducting costs.

Requiredamount
Cost of Goods Sold

Direct costs attributable to producing goods sold by the corporation.

amount
Total Income

Gross receipts minus cost of goods sold and returns/allowances.

Requiredamount

Deductions

1 items

Total Deductions

Sum of all business expenses including compensation, rent, interest, taxes, and depreciation.

Requiredamount

Tax

2 items

Taxable Income

Total income minus total deductions.

Requiredamount
Total Tax

Tax calculated on taxable income using the applicable corporate tax rate, minus any credits.

Requiredamount

Signatures

1 items

Officer Signature

An authorized corporate officer must sign and date the return.

Requiredsignature
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Current form status
IRS

The 2024 edition of Form 1120‑REI is active. The IRS updates the form annually; verify the edition date on the first page before filing.

What changed or needs a fresh check

  • Edition date – confirm the form is the current year’s version
  • Fee – no filing fee for electronic or paper submission
  • Mailing address – use the address listed in the 2024 instructions if filing paper
  • Electronic filing – ensure MeF service is active for the filing year
  • Signature line – include authorized officer’s signature and title

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Quick Facts

All domestic corporations that qualify as Real Estate Investment Trusts must file Form 1120‑REI.
The form captures total revenue, rental and interest income, operating expenses, depreciation, gains or losses on property sales, and the calculation of taxable REIT income.
The return is due the 15th day of the 4th month after the REIT’s tax year ends, typically April 15 for calendar‑year REITs, with extensions possible.
File electronically through the IRS Modernized e‑File (MeF) system or mail the paper form to the IRS address listed in the instructions for the filing year.
Errors can trigger penalties, delay the REIT’s ability to distribute required 90% of taxable income, and may cause the REIT to lose its qualified status.
Gather audited financial statements, depreciation schedules, and property sale records. Complete Schedule I (Income) and Schedule J (Deductions), then transfer totals to the main form. Run the tax computation, attach required schedules, and sign. Submit electronically or by mail before the deadline.

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After you file

  1. 1Keep the filed return and all supporting documents for at least seven years.
  2. 2Monitor IRS acknowledgment for electronic filings; resolve any rejection codes promptly.
  3. 3Track the REIT’s distribution percentages to ensure the 90% requirement is met.
  4. 4Update the REIT’s internal tax calendar with the next filing deadline.
  5. 5If an extension was filed, note the new due date and any required estimated payments.
  6. 6Review the IRS notice of any adjustments or penalties within 30 days.

Sources

  • SRCForm 1120‑REI official title and purposeIRS
  • SRCFiling deadline (15th day of 4th month)IRS instructions
  • SRCExtension filing via Form 7004IRS guidance
  • SRCElectronic filing via MeFIRS e‑file specifications
  • SRCSchedule I and J requirementsForm 1120‑REI instructions
  • SRCPenalty risk for errorsIRS penalty handbook
  • SRCEdition date locationfirst page of the form
  • SRCNo filing feeIRS fee schedule
  • SRCSignature requirementForm instructions
  • SRCMailing address for paper filingIRS address list

Common confusion points

Depreciation method

Different from regular corporate depreciation

→ Verify MACRS class life for each property

Rental vs. non‑rental income

Income from services can be mis‑classified

→ Cross‑check lease agreements

Schedule I vs. Schedule J line numbers

Lines shift between editions

→ Use the current year’s instruction sheet

Eligibility of REIT status

Some entities think they qualify but fail the asset test

→ Confirm REIT qualification before filing

Extension filing

Form 7004 is for corporations, not partnerships

→ File Form 7004 only if the REIT is a corporation

Workflow map

Related forms and next steps

5 signals

Before

Form 4562 – Depreciation & Amortization

Current

1120-REI

After

Form 1120‑REIT‑C – Consolidated REIT return (if applicable)

Often used with

Schedule I – IncomeSchedule J – Deductions

⚠ If something goes wrong

  • Form 1120‑X – Amended U.S. Corporation Income Tax Return

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Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
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