The real estate mortgage investment conduit (REMIC) uses Schedule Q to notify you of your share of the REMIC’s quarterly taxable income, the excess inclusion, and your share of the REMIC’s section 212 expenses for the quarter. While the REMIC isn't subject to income tax, you're liable for tax on your share of the REMIC's taxable income and must include it on your tax return.
Where do I enter my Schedule Q?
To locate Schedule Q (Form 1066), go to:
- Federal
- Income (Select my forms)
- Less Common Income
- Schedule Q (Form 1066)