IRS PLR: Outdoor Advertising Display Income Qualifies as REIT Rental Income (I.R.C. §856)

The IRS has published a private letter ruling on I.R.C. §856 confirming that outdoor advertising display rental income qualifies as real estate investment trust (REIT) rents from real property when proper I.R.C. §1033(g)(3) elections are made, customary services are provided, and related requirements are met. [PLR 202552014]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.