§ 858.
(a)
General rule
For purposes of this part, if a real estate investment trust—
(1)
declares a dividend before the time prescribed by law for the filing of its return for a taxable year (including the period of any extension of time granted for filing such return), and
(2)
distributes the amount of such dividend to shareholders or holders of beneficial interests in the 12-month period following the close of such taxable year and not later than the date of the first regular dividend payment made after such declaration,
the amount so declared and distributed shall, to the extent the trust elects in such return (and specifies in dollar amounts) in accordance with regulations prescribed by the Secretary, be considered as having been paid only during such taxable year, except as provided in subsections (b) and (c).
(Added [Pub. L. 86–779, § 10(a)], Sept. 14, 1960, [74 Stat. 1008]; amended [Pub. L. 94–455, title XVI], §§ 1604(h), title XIX, § 1906(b)(13)(A), Oct. 4, 1976, [90 Stat. 1752], 1834; [Pub. L. 99–514, title VI], §§ 665(b)(2), 668(b)(1)(B), Oct. 22, 1986, [100 Stat. 2304], 2307; [Pub. L. 100–647, title I, § 1018(u)(27)], Nov. 10, 1988, [102 Stat. 3591]; [Pub. L. 113–295, div. A, title II, § 220(m)], Dec. 19, 2014, [128 Stat. 4036].)