Form N-66 2018 Real Estate Investment Mortgage Conduit Income Tax Return - Hawaii

Form N-66 is a Hawaii Department of Taxation form also known as the "Real Estate Investment Mortgage Conduit Income Tax Return". The latest edition of the form was released in January 1, 2018 and is available for digital filing.

Download a PDF version of the Form N-66 down below or find it on Hawaii Department of Taxation Forms website.

Step-by-step Form 66 instructions can be downloaded by clicking this link.

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Clear Form
STATE OF HAWAII — DEPARTMENT OF TAXATION
Real Estate Mortgage Investment Conduit
Income Tax Return
FORM
2018
N-66
For calendar year 2018 or short tax year beginning
, 20
, ending
, 20
See separate Instructions.
(REV. 2018)
A Federal Employer I.D. No.
Name
B Date REMIC started
Mailing Address (number and street)
C Enter total assets at end of tax year
City or Town, State, and Postal/ZIP code. If you have a foreign address, see Instructions.
$
D Check applicable boxes: (1)
Final return
(2)
Name change
(3)
Change of address
(4)
Amended return
(5)
IRS Adjustment
E Hawaii Tax I.D. No.
Section I. — Computation of Taxable Income or Net Loss
Income — excluding amounts from prohibited transactions
1
1
Taxable interest ...................................................................................................................................................
2
2
Accrued market discount under IRC section 860C(b)(1)(B) ...............................................................................
3
3
Reserved .............................................................................................................................................................
4
4
Ordinary gain (or loss) (attach Schedule D-1) ....................................................................................................
5
5
Other income (attach schedule) ..........................................................................................................................
6
Total income (or loss) (add lines 1 through 5) ....................................................................................................
6
Deductions — excluding amounts from prohibited transactions
7
7
Salaries and wages .............................................................................................................................................
8
8
Rent ....................................................................................................................................................................
9
9
Amount accrued to regular interest holders in the REMIC that is deductible as interest ....................................
10
10
Other interest ......................................................................................................................................................
11
11
Taxes ...................................................................................................................................................................
12
12
Depreciation from federal Form 4562 .................................................................................................................
13
13
Other deductions (attach schedule) ....................................................................................................................
14
Total deductions (add lines 7 through 13) ..........................................................................................................
14
15
15
Taxable income (or net loss) (line 6 less line 14). Enter here and on Schedule M, column (c) ...........................
DECLARATION
I declare, under the penalties set forth in section 231-36, HRS, that this return (including any accompanying schedules or statements) has been examined by me and, to the best of my
knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Signature
Date
Print or type name
Title
May the Hawaii Department of Taxation discuss this return with the preparer shown below? (See page 2 of the Instructions.)
Yes
No
Note: This designee does not replace the power of attorney form.
Date
Check if
Preparer’s identification number
Preparer’s
self-employed
Signature
Paid
Federal
Type or Print
Preparer’s
E.I. No.
Preparer’s Name
Use Only
Firm’s name (or yours
if self-employed), Address
Phone no.
and Postal/ZIP Code
FORM N-66
ID NO 01
N66_I 2018A 01 VID01
Clear Form
STATE OF HAWAII — DEPARTMENT OF TAXATION
Real Estate Mortgage Investment Conduit
Income Tax Return
FORM
2018
N-66
For calendar year 2018 or short tax year beginning
, 20
, ending
, 20
See separate Instructions.
(REV. 2018)
A Federal Employer I.D. No.
Name
B Date REMIC started
Mailing Address (number and street)
C Enter total assets at end of tax year
City or Town, State, and Postal/ZIP code. If you have a foreign address, see Instructions.
$
D Check applicable boxes: (1)
Final return
(2)
Name change
(3)
Change of address
(4)
Amended return
(5)
IRS Adjustment
E Hawaii Tax I.D. No.
Section I. — Computation of Taxable Income or Net Loss
Income — excluding amounts from prohibited transactions
1
1
Taxable interest ...................................................................................................................................................
2
2
Accrued market discount under IRC section 860C(b)(1)(B) ...............................................................................
3
3
Reserved .............................................................................................................................................................
4
4
Ordinary gain (or loss) (attach Schedule D-1) ....................................................................................................
5
5
Other income (attach schedule) ..........................................................................................................................
6
Total income (or loss) (add lines 1 through 5) ....................................................................................................
6
Deductions — excluding amounts from prohibited transactions
7
7
Salaries and wages .............................................................................................................................................
8
8
Rent ....................................................................................................................................................................
9
9
Amount accrued to regular interest holders in the REMIC that is deductible as interest ....................................
10
10
Other interest ......................................................................................................................................................
11
11
Taxes ...................................................................................................................................................................
12
12
Depreciation from federal Form 4562 .................................................................................................................
13
13
Other deductions (attach schedule) ....................................................................................................................
14
Total deductions (add lines 7 through 13) ..........................................................................................................
14
15
15
Taxable income (or net loss) (line 6 less line 14). Enter here and on Schedule M, column (c) ...........................
DECLARATION
I declare, under the penalties set forth in section 231-36, HRS, that this return (including any accompanying schedules or statements) has been examined by me and, to the best of my
knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Signature
Date
Print or type name
Title
May the Hawaii Department of Taxation discuss this return with the preparer shown below? (See page 2 of the Instructions.)
Yes
No
Note: This designee does not replace the power of attorney form.
Date
Check if
Preparer’s identification number
Preparer’s
self-employed
Signature
Paid
Federal
Type or Print
Preparer’s
E.I. No.
Preparer’s Name
Use Only
Firm’s name (or yours
if self-employed), Address
Phone no.
and Postal/ZIP Code
FORM N-66
ID NO 01
N66_I 2018A 01 VID01
FORM N-66 (REV. 2018)
PAGE 2
Designation of Tax Matters Person
Enter below the residual interest holder designated as the tax matters person (TMP) for the calendar year of this return:
Name of
Identifying
designated TMP
number of TMP
Address of
designated TMP
Additional Information
F
What type of entity is this REMIC? Check box
Corporation
Partnership
Trust
Segregated Pool of Assets
If you checked “Segregated Pool of Assets,” state name and type of entity that owns the assets:
Name _________________________________________________ Type ___________________________
G
Number of residual interest holders in this REMIC
___________ .
H
Enter the amount of tax-exempt interest accrued during the year
____________ .
I
Check this box if the REMIC has more than one class of regular interests ..............................................
If so, attach a schedule identifying the classes and principal amounts outstanding for each at the end of the year.
J
Enter the sum of the daily accruals determined under IRC section 860E (c) for the calendar year
Schedule L
Balance Sheets per Books
(a) Beginning of year
(b) End of year
Assets
1
Permitted investments (see Instructions):
a Cash flow investments ...................................................................................
b Qualified reserve assets ................................................................................
c Foreclosure property......................................................................................
2
Qualified mortgages ......................................................................................
3
Other assets (attach schedule) ......................................................................
4
Total assets ...................................................................................................
Liabilities and Capital
5
Current liabilities (attach schedule) ................................................................
6
Other liabilities (attach schedule) ...................................................................
7
Regular interests in REMIC ...........................................................................
8
Residual interest holders’ capital accounts ....................................................
9
Total liabilities and capital .............................................................................
Reconciliation of Residual Interest Holders’ Capital Accounts
Schedule M
Show reconciliation of each residual interest holders’ capital account quarterly on Schedule Q (Form N-66), Item E.)
(g) Residual interest
(a) Residual interest
(b) Capital
(c) Taxable income
(d) Nontaxable
(e) Unallowable
(f) Withdrawals and
holders’ capital accounts
holders’ capital accounts
contributed during
(net loss) from Section I,
income
deductions
distributions
at end of year (combine
at beginning of year
year
line 15
cols. (a) through (f))
(
) (
)
FORM N-66

Download Form N-66 2018 Real Estate Investment Mortgage Conduit Income Tax Return - Hawaii

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