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Form 976, Claim for Deficiency Dividends Deductions by a Personal Holding Company, Regulated Investment Company, or Real Estate Investment Trust

Information about Form 976, Claim for Deficiency Dividends Deductions by a Personal Holding Company, Regulated Investment Company, or Real Estate Investment Trust, including recent updates, related forms and instructions on how to file. Personal holding companies, regulated investment companies, and real estate investment trusts file this form to claim a deficiency dividend deduction under section 547 or 860.

Rental Real Estate Income and Expenses of a Partnership or an S Corporation

File Form 1099-S, Proceeds from Real Estate Transactions (Info Copy Only), to report the sale or exchange of real estate.

March 24, 2023 — U.S. District Judge Mary S. Scriven has sentenced Frank Sebastian Visicaro to 24 months in federal prison for conspiracy to commit money laundering. As part of his sentence, the court also ordered Visicaro to pay restitution in the amount of $1,088,440, the proceeds of funds laundered through bank accounts he controlled. Visicaro had pleaded guilty on December 9, 2021.

Publication 5550, Real Estate Property Foreclosure and Cancellation of Debt Audit Technique Guide, discusses the tax consequences for real estate property that is disposed of through foreclosure, short sale, deed in lieu of foreclosure, and abandonments.

Feb. 9, 2024 — A real estate developer and part-time resident of Vancouver, Washington, was sentenced to federal prison today for fraudulently obtaining Covid-relief program funds and laundering a portion of the proceeds while on federal supervised release for a previous fraud conviction.

May 11, 2023 — Shakeerah Kaneisha Yvette Vinson pleaded guilty today to conspiracy to commit wire fraud for fraudulently obtaining a Paycheck Protection Act ("PPP") COVID-19 loan for her real estate broker business. She faces up to 20 years in prison.

July 31, 2023 — Vanessa Roberts Avery, United States Attorney for the District of Connecticut, announced that Robert V. Matthews, of Palm Beach Gardens, Florida, was sentenced today by U.S. District Judge Victor A. Bolden in Bridgeport to 65 months of imprisonment, followed by three years of supervised release, for conspiracy, money laundering, and tax evasion offenses related to multiple schemes that defrauded investors and financial institutions out of tens of millions of dollars.

Publication 5886-B, Clean Energy Efficiency Incentives and Residential Real Estate Properties for housing developers, building owners and resident landlords