Sec. 3633. Certain short-life property not treated as real property for purposes of REIT provisions
106 words·~1 min read·
/bill/113/hr/1/ih/section-3633A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 856(c)(5) is amended by adding at the end the following new subparagraph: The term real property shall not include any tangible property with a class life of less than 27.5 years. For purposes of the preceding sentence, class life of tangible property for any taxable year shall be the greater of— the class life of such property in the hands of the real estate investment trust, or the class life which would be applicable to such property if such property was placed in service in the taxable year. . The amendment made by this section shall apply to taxable years beginning after December 31, 2016.