Sec. 3639. Non-REIT earnings and profits required to be distributed by REIT in cash

147 words·~1 min read·/bill/113/hr/1/ih/section-3639

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Section 857, as amended by the preceding provisions of this Act, is amended by redesignating subsection

(h)as subsection

(i)and by inserting after subsection

(g)the following new subsection: For purposes of subsection (a)(2)(B), distributions during the transition period shall be taken into account in determining accumulated earning and profits only if such distributions are made in cash. For purposes of this subsection, the term transition period means the period of taxable years beginning with the last taxable year (other than a short taxable year) which was a non-REIT year (as defined in subsection (a)) and ending with the first taxable year to which the provisions of this part apply. . Section 857(a)(2)(B) is amended by inserting (determined as provided in subsection (h)) before the period at the end. The amendments made by this section shall apply to distributions made on or after February 26, 2014.