Apartment Investment and Management Company AIV today clarified the nature and extent of previously earned unrelated business taxable income.
Aimco previously owned a residual interest in a real estate mortgage investment conduit (“REMIC”), which periodically generated an immaterial amount of excess inclusion income, which is generally required to be treated as UBTI by tax-exempt organizations. On August 7, 2008, Aimco liquidated the REMIC and eliminated its sole source of UBTI. Aimco did not generate UBTI in tax years 2009, 2010 or 2011 and has a practice of avoiding investments in vehicles that may generate UBTI to Aimco in the future.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in