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26 U.S.C. § 859

Title 26 Chapter 1 Current through PL 116-220 ~1 min read Last updated: March 30, 2026 View on OLRC →
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§ 859. Adoption of annual accounting period

  • (a) For purposes of this subtitle—
    • (1) a real estate investment trust shall not change to any accounting period other than the calendar year, and
    • (2) a corporation, trust, or association may not elect to be a real estate investment trust for any taxable year beginning after October 4, 1976 , unless its accounting period is the calendar year.
  • (b) Notwithstanding section 442, an entity which has not engaged in any active trade or business may change its accounting period to a calendar year without the approval of the Secretary if such change is in connection with an election under section 856(c).

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