The IRS has issued a private letter ruling on Section 856(d), clarifying that income received by the taxpayer from unrelated third parties under leases, licenses, or similar agreements for the use of certain real property assets, the provision of related services and amenities, and pursuant to a lease with its taxable REIT subsidiary, qualify as rental income. [PLR 202530005]
This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.
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