{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/974/","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","number":"974","title":"Real Estate—Real Estate Investment Trusts","area":"Industry","group":"97X Real Estate","subtopics":[{"number":"974-10","topic":"974","title":"Overall","area":"Industry","paragraphs":13,"summary":"ASC 974-10 is the Overall subtopic for Real Estate—Real Estate Investment Trusts, describing the structure and scope of the REIT Topic and pointing to its subtopics (equity method/joint ventures, other expenses, consolidation, interest, and leases). It provides only incremental industry-specific guidance: REITs must also follow all otherwise applicable GAAP. It applies to all REITs, whether or not they have elected the federal tax treatment that avoids corporate income tax by distributing at least 90 percent of taxable income to shareholders.","concepts":["real estate investment trust","90 percent distribution requirement","incremental industry guidance","scope","tax status of distributions","return of capital","distributions per unit"],"categories":["Industry-specific","Disclosure","Income taxes","Transition and effective dates"],"level":"introductory","topic_title":"Real Estate—Real Estate Investment Trusts","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"974-10-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
974-10-05-1 Amended Accounting Standards Update No. 2016-02 02/25/2016
974-10-05-1 Amended Accounting Standards Update No. 2014-09 05/28/2014
974-10-05-2 Amended Accounting Standards Update No. 2014-09 05/28/2014
974-10-50-1 Added Accounting Standards Update No. 2023-06 10/09/2023
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n974-10-05-1 | Amended | Accounting Standards Update No. 2016-02 | 02/25/2016 |\n974-10-05…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ae16d00b7c4e44dbc2d214c1c96ef93ed521d5221bed618dacfd46984ea408fa","downloaded_from":"2026-09-10T02:26:25.491Z","last_downloaded_at":"2026-09-10T02:26:25.491Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482299","source_sha256":"b316c76216268b24ab2717fff8c868f0305db03eeb48230318b869984976922e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:27906d2fa3e5e1ffafb4d602bd2cdd4eadf064309e609dc29265207383e2eb74","downloaded_from":"2026-09-10T02:26:25.491Z","last_downloaded_at":"2026-09-10T02:26:25.491Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482299","source_sha256":"b316c76216268b24ab2717fff8c868f0305db03eeb48230318b869984976922e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9aefc0a47517ae935c0baf7e7e87d1abd3de8c68648993a25c7fd82d6d7ed1fa","downloaded_from":"2026-09-10T02:26:25.491Z","last_downloaded_at":"2026-09-10T02:26:25.491Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482299","source_sha256":"b316c76216268b24ab2717fff8c868f0305db03eeb48230318b869984976922e"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"974-10-05-1","para":"05-1","html":"
The Codification contains several Topics for real estate due to the differing accounting treatment for various real estate subindustries. The Topics include:
  1. a
    Real Estate—General
  2. b
    Real Estate—Common Interest Realty Associations
  3. c
    Real Estate—Real Estate Investment Trusts
  4. d
    Real Estate—Time-Sharing Activities
  5. e
    Real Estate—Retail Land.
See also Subtopic 842-40 for accounting guidance for the sale of real estate that is part of a sale-leaseback transaction.
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The Real Estate—Real Estate Investment Trusts Topic addresses the unique accounting and reporting issues for real estate investment trusts. This Topic includes the following Subtopics:
  1. a
    Overall
  2. b
    Investments—Equity Method and Joint Ventures
  3. c
    Subparagraph superseded by Accounting Standards Update No. 2014-09.
  4. cc
    Other Expenses
  5. d
    Consolidation
  6. e
    Interest
  7. f
    Leases.
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The tax considerations included here represent an understanding of the Internal Revenue Code requirements and practices at the time that the accounting and reporting standards were initially issued. The Financial Accounting Standards Board (FASB) assumes no responsibility for the accuracy of the tax guidance included here.
","snippet":"The tax considerations included here represent an understanding of the Internal Revenue Code requirements and practices at the time that the accounting and reporting standards were initially issued. The Financial Account…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5245223b3639974ee80e7d14922bd97fc4de73ac84ce57d3b3d62e79fe74c501","downloaded_from":"2026-09-10T02:26:28.336Z","last_downloaded_at":"2026-09-10T02:26:28.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482270","source_sha256":"f9b115bc96cb11ba8b939b90bc2c65a2e08aea1bf0003365bd14417ad61bab2b"}},{"citation":"974-10-05-4","para":"05-4","html":"
A real estate investment trust, if it so elects, will not be required to pay federal corporate income taxes (other than that on tax preference items) if, among other things, at least 90 percent of its taxable income, as defined, is distributed to its shareholders. This Subtopic, however, is not restricted to those real estate investment trusts that have elected such tax treatment.
","snippet":"A real estate investment trust, if it so elects, will not be required to pay federal corporate income taxes (other than that on tax preference items) if, among other things, at least 90 percent of its taxable income, as …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:27ed85bf7e053be21987413000562baea84ef0e4afb99ed101797069b7729607","downloaded_from":"2026-09-10T02:26:28.336Z","last_downloaded_at":"2026-09-10T02:26:28.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482270","source_sha256":"f9b115bc96cb11ba8b939b90bc2c65a2e08aea1bf0003365bd14417ad61bab2b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:279b5fb5946b356e6e9ad376fcb82e002a17728c2dab29f6c4ac2c57880d54e7","downloaded_from":"2026-09-10T02:26:28.336Z","last_downloaded_at":"2026-09-10T02:26:28.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482270","source_sha256":"f9b115bc96cb11ba8b939b90bc2c65a2e08aea1bf0003365bd14417ad61bab2b"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2020dcb114656b7cbd419fd3510e94bab05dfb7102265f28accb520aaeb46f8d","downloaded_from":"2026-09-10T02:26:28.336Z","last_downloaded_at":"2026-09-10T02:26:28.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482270","source_sha256":"f9b115bc96cb11ba8b939b90bc2c65a2e08aea1bf0003365bd14417ad61bab2b"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"974-10-15-1","para":"15-1","html":"
The Subtopics within the Real Estate—Real Estate Investment Trusts Topic only provide incremental industry-specific guidance for the entities defined in this Scope Section, or as further defined in the Scope Sections of the individual Subtopics. Entities within the scope of this Topic shall also comply with the applicable guidance not included in this Topic.
","snippet":"The Subtopics within the Real Estate—Real Estate Investment Trusts Topic only provide incremental industry-specific guidance for the entities defined in this Scope Section, or as further defined in the Scope Sections of …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:01ee7a130933a4aadf0b06bea0de97126151870b14e2f8e0c9b04dd27b181513","downloaded_from":"2026-09-10T02:26:31.403Z","last_downloaded_at":"2026-09-10T02:26:31.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482298","source_sha256":"3bc4e40bf56bb17a84d36f4e7c4e83868b5947fa6eab06bdba98bf50d2bfbb13"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:63e8a8ae35c6f60bb4610013457055bc3ac93b0b767b8c40e263a98d6ea3b571","downloaded_from":"2026-09-10T02:26:31.403Z","last_downloaded_at":"2026-09-10T02:26:31.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482298","source_sha256":"3bc4e40bf56bb17a84d36f4e7c4e83868b5947fa6eab06bdba98bf50d2bfbb13"}},{"block":null,"heading":"Entities","paragraphs":[{"citation":"974-10-15-2","para":"15-2","html":"
The guidance in this Topic applies to all real estate investment trusts. The accounting issues discussed in this Topic may also be encountered by other entities which are not real estate investment trusts but which are engaged in the business of making loans on or investing in real estate. The conclusions in this Topic may, therefore, also be appropriate for those entities. However, the accounting practices of entities that are not real estate investment trusts are beyond the scope of this Topic.
","snippet":"The guidance in this Topic applies to all real estate investment trusts. The accounting issues discussed in this Topic may also be encountered by other entities which are not real estate investment trusts but which are e…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b467d9c82be6877a70119bcc4c4ec843bf5f38658cf713c81b5755968ad23a83","downloaded_from":"2026-09-10T02:26:31.403Z","last_downloaded_at":"2026-09-10T02:26:31.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482298","source_sha256":"3bc4e40bf56bb17a84d36f4e7c4e83868b5947fa6eab06bdba98bf50d2bfbb13"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:97e8dc56dbc22f5f9c38656193767b56466ca28b9c4fc8541afc21036565b567","downloaded_from":"2026-09-10T02:26:31.403Z","last_downloaded_at":"2026-09-10T02:26:31.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482298","source_sha256":"3bc4e40bf56bb17a84d36f4e7c4e83868b5947fa6eab06bdba98bf50d2bfbb13"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cba325a0558b9eaa3fdaab911719168f39b552cebf93d0ddd954b9d061ab0b6e","downloaded_from":"2026-09-10T02:26:31.403Z","last_downloaded_at":"2026-09-10T02:26:31.403Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482298","source_sha256":"3bc4e40bf56bb17a84d36f4e7c4e83868b5947fa6eab06bdba98bf50d2bfbb13"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"974-10-50-1","para":"50-1","html":"
Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:
105-10-65-7 For annual reporting periods, an entity shall disclose the tax status of distributions per unit (for example, ordinary income, capital gain, and return of capital).
","snippet":"Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:105-10-65-7 For annual reporting periods, an entity shall disclose the tax status of distributions per unit (for example, ordinary income, capital g…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1f177a1ff6521a2d9b9a73e7ce3ab1bdc3dd902626285248e9f23094002be902","downloaded_from":"2026-09-10T02:26:36.955Z","last_downloaded_at":"2026-09-10T02:26:36.955Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147476174","source_sha256":"0d629862e52c7ae48d98de8f4c6a2039499a4b2b77236a9e459939d66463a0ba"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:67245e654d5d25ea329c6972954fe752b0a747685ebb92da9c598c42a1900cfc","downloaded_from":"2026-09-10T02:26:36.955Z","last_downloaded_at":"2026-09-10T02:26:36.955Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147476174","source_sha256":"0d629862e52c7ae48d98de8f4c6a2039499a4b2b77236a9e459939d66463a0ba"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:955c88bbd0d10b9db7eadbe95da5629b2f6aa66994c7a37e83f6ec99e49896ce","downloaded_from":"2026-09-10T02:26:36.955Z","last_downloaded_at":"2026-09-10T02:26:36.955Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147476174","source_sha256":"0d629862e52c7ae48d98de8f4c6a2039499a4b2b77236a9e459939d66463a0ba"}},{"number":"S00","label":"SEC 00 Status","anchor":"sec-00-status","is_sec":true,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"974-10-S00-1","para":"S00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
974-10-S99-1AmendedAccounting Standards Update No. 2019-0707/26/2019
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n974-10-S99-1 | Amended | Accounting Standards Update No. 2019-07 | 07/26/2019 |","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:22f7af25d2a4d4b57bf3167bb9f208364299db041c3f328c993cb32d3a46a757","downloaded_from":"2026-09-10T02:26:39.818Z","last_downloaded_at":"2026-09-10T02:26:39.818Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479412","source_sha256":"585458af135db0ccc3685b5ce33d9bab9314911e10a68cfa8c21ee1a47e5a0f2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a13b691f27b33736e6fd6bf77cfca45ad7abf4ed380d7c9a69e39b1fee9d8589","downloaded_from":"2026-09-10T02:26:39.818Z","last_downloaded_at":"2026-09-10T02:26:39.818Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479412","source_sha256":"585458af135db0ccc3685b5ce33d9bab9314911e10a68cfa8c21ee1a47e5a0f2"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b6ea06062632ad470231898fe65928ab982d0aaa36ae281b4542aa4377c51621","downloaded_from":"2026-09-10T02:26:39.818Z","last_downloaded_at":"2026-09-10T02:26:39.818Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479412","source_sha256":"585458af135db0ccc3685b5ce33d9bab9314911e10a68cfa8c21ee1a47e5a0f2"}},{"number":"S45","label":"SEC 45 Other Presentation Matters","anchor":"sec-45-other-presentation-matters","is_sec":true,"groups":[{"block":null,"heading":"Income Statement Presentation","paragraphs":[{"citation":"974-10-S45-1","para":"S45-1","html":"
See paragraph 974-10-S99-1, Regulation S-X Rule 3-15(a)(1), for income statement presentation requirements for real estate investment trusts.
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See paragraph 974-10-S99-1, Regulation S-X Rule 3-15(a)(2), for balance sheet requirements for real estate investment trusts.
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See paragraph 974-10-S99-1, Regulation S-X Rule 3-15, for disclosure requirements for real estate investment trusts.
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The following is the text of Regulation S-X Rule 3-15, Special Provisions as to Real Estate Investment Trusts (17 CFR 210.3-15).
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It provides only incremental industry-specific guidance: REITs must also follow all otherwise applicable GAAP. It applies to all REITs, whether or not they have elected the federal tax treatment that avoids corporate income tax by distributing at least 90 percent of taxable income to shareholders.","key_points":["The Codification splits real estate guidance across several Topics (General, Common Interest Realty Associations, REITs, Time-Sharing, Retail Land), with sale-leaseback sales of real estate addressed in Subtopic 842-40 (974-10-05-1).","The REIT Topic contains Overall, Investments—Equity Method and Joint Ventures, Other Expenses, Consolidation, Interest, and Leases Subtopics (974-10-05-2).","A REIT that so elects is not required to pay federal corporate income taxes (other than on tax preference items) if, among other things, at least 90 percent of its taxable income as defined is distributed to shareholders (974-10-05-4).","The Topic is not limited to REITs that have made that tax election (974-10-05-4).","Guidance in this Topic is incremental only; entities within its scope must also comply with all applicable guidance outside the Topic (974-10-15-1).","The Topic applies to all REITs; non-REIT entities that make loans on or invest in real estate may find the conclusions appropriate, but their accounting practices are outside the scope (974-10-15-2).","Effective for annual reporting periods beginning with the transition date of June 30, 2027 (see 105-10-65-7), an entity shall disclose the tax status of distributions per unit—for example, ordinary income, capital gain, and return of capital (974-10-50-1)."],"categories":["Industry-specific","Disclosure","Income taxes","Transition and effective dates"],"audience_level":"introductory","student_note":"The common misunderstanding is that ASC 974 is a self-contained accounting model for REITs; in fact it is only incremental guidance layered on top of ordinary GAAP, and it applies even to entities that have not elected REIT tax status. Remember the annual disclosure of the tax status of distributions per unit (ordinary income, capital gain, return of capital).","related_topics":["970","972","978","976","842-40","740"],"key_concepts":["real estate investment trust","90 percent distribution requirement","incremental industry guidance","scope","tax status of distributions","return of capital","distributions per unit"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:658fdc83af901ce600ee3b96563f9bdc4bae5eab135db90241f32a03ff3a3964","downloaded_from":"2026-09-10T02:26:25.491Z","last_downloaded_at":"2026-09-10T02:26:47.600Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"970-10","title":"Overall","topic_title":"Real Estate—General","score":0.8064,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f94eb1f628fbfc41a859106b7c0bafac837b89d0caedb1f2a03aae0f5fb13bd0","downloaded_from":"2026-09-10T02:25:52.021Z","last_downloaded_at":"2026-09-10T02:26:12.373Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"810-974","title":"Real Estate—Real Estate Investment Trusts","topic_title":"Consolidation","score":0.8025,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50e14baa6aaa613dc826903d9b27cf71301d11932a443fa131b333ff3cf3da94","downloaded_from":"2026-09-10T01:33:51.197Z","last_downloaded_at":"2026-09-10T01:34:06.992Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"972-10","title":"Overall","topic_title":"Real Estate—Common Interest Realty Associations","score":0.7869,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a00075ecff105374a3ea077c8f247eca63174e1253580b691839cbde0c8f3ef7","downloaded_from":"2026-09-10T02:26:14.164Z","last_downloaded_at":"2026-09-10T02:26:21.543Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"720-974","title":"Real Estate—Real Estate Investment Trusts","topic_title":"Other 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retrieval timestamps"}},{"number":"360-970","title":"Real Estate—General","topic_title":"Property, Plant, and Equipment","score":0.76,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e0ee95c24a285e3c39f0bad37c78667a6d80d9d55a5a6c3fcad208565d712e59","downloaded_from":"2026-09-10T00:11:50.248Z","last_downloaded_at":"2026-09-10T00:12:34.852Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"972-10","title":"Overall","topic_title":"Real Estate—Common Interest Realty Associations","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7b5bac231594fccc06153defa7f239259804ae2f056d1a4b3bdb1a8100c0a515","downloaded_from":"2026-09-10T02:26:14.164Z","last_downloaded_at":"2026-09-10T02:26:21.543Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"next":{"number":"976-10","title":"Overall","topic_title":"Real Estate—Retail Land","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d8365c8a15bb3da566b618fbdac7f1b3b2b746a77f3ea74d3616060fa8b6cfaa","downloaded_from":"2026-09-10T02:26:50.000Z","last_downloaded_at":"2026-09-10T02:26:59.868Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c3ca38ac9c2234e41c2e7004523deb8c4a7168203d033bad2c330eb868904863","downloaded_from":"2026-09-10T02:26:25.491Z","last_downloaded_at":"2026-09-10T02:26:47.600Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"paragraphs":13,"summary":"ASC 974 provides incremental, industry-specific guidance for Real Estate Investment Trusts, layered on top of all otherwise applicable GAAP (974-10-15-1). The Overall Subtopic maps the REIT Topic's structure—Overall, Investments—Equity Method and Joint Ventures, Other Expenses, Consolidation, Interest, and Leases (974-10-05-2)—and situates it among the other real estate Topics (General, Common Interest Realty Associations, Time-Sharing, Retail Land), with sale-leaseback sales of real estate handled in Subtopic 842-40 (974-10-05-1). Scope reaches all REITs, whether or not they elected the federal tax treatment that avoids corporate income tax by distributing at least 90 percent of taxable income to shareholders (974-10-05-4; 974-10-15-2). The key takeaway: REIT guidance supplements rather than replaces general GAAP, and effective for annual periods beginning with the June 30, 2027 transition date, a REIT must disclose the tax status of distributions per unit—ordinary income, capital gain, and return of capital (974-10-50-1).","concepts":["real estate investment trust (reit)","incremental industry-specific guidance","90 percent taxable income distribution election","scope of the reit topic","tax status of distributions per unit","sale-leaseback of real estate (842-40)","equity method and joint ventures","transition date june 30, 2027"],"categories":["Industry-specific","Disclosure","Income taxes","Transition and effective dates"],"level":"intermediate","provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3837dc9f28eeab6dd56ba7f08a8b717b3ec440bc66e43f91d4159ef747e684c8","downloaded_from":"2026-09-10T02:26:25.491Z","last_downloaded_at":"2026-09-10T02:26:47.600Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}