General Information — 2025 Inst 1066 (PDF)

Name, address, and EIN. Enter the REMIC’s legal name and address on the appropriate lines. Include the suite, room, or other unit number after the street address. If the Post Office doesn’t deliver mail to the street address and the REMIC has a P.O. box, show the box number instead. If the REMIC receives its mail in care of a third party (such as an accountant or attorney), enter on the street address line “C/O” followed by the third party’s name and street address or P.O. box. If the REMIC has changed its address since it last filed a return (including a change to an “in care of” address), check the box for item D(3), Address change.

Item B—Date REMIC started. Enter the “startup day” selected by the REMIC.

The startup day is the day on which the REMIC issued all of its regular and residual interests. However, a sponsor may contribute property to a REMIC in exchange for regular and residual interests over any period of 10 consecutive days, and the REMIC may designate any 1 of those 10 days as the startup day. The day so designated is then the startup day, and all interests are treated as issued on that day.

Item C—Total assets at end of tax year. Enter the total assets of the REMIC. If there are no assets at the end of the tax year, enter zero.

Section I

Income—(Lines 1 Through 6)

Line 1—Taxable interest. Enter the total taxable interest. Taxable interest is interest that is included in ordinary income from all sources except interest exempt from tax and interest on tax-free covenant bonds. You may elect to reduce the amount of interest accrued on taxable bonds by the amount of amortizable bond premium on those bonds attributable to the current tax year. See sections 171(c) and 171(e) for details.

Line 2—Accrued market discount under section 860C(b)(1)(B). Enter the amount of market discount attributable to the current tax year determined on the basis of a constant interest rate under the rules of section 1276(b)(2).

Line 4—Ordinary gain or (loss). Enter the net gain or (loss) from Form 4797, Sales of Business Property, Part II.

Line 5—Other income. Attach a statement listing by type and amount any other taxable income not reported on lines 1 through 4. If there is only one item of other income, describe it in parentheses to the left of the entry space on line 5 instead of attaching a statement.

If the REMIC issued regular interests at a premium, the net amount of the premium is income that must be prorated over the term of these interests. Include this income on line 5.

Generally, cancellation of REMIC debt (for example, cancellation of unpaid principal and accrued but unpaid interest owed to a REMIC regular interest holder) should be recognized as income and reported on line 5. Attach a supporting statement to line 5 to separately disclose income from cancellation of REMIC debt.

Note: If a change in address or responsible party occurs after the return is filed, use Form 8822-B to notify the IRS of the change.

Enter the REMIC’s EIN on Form 1066, page 1, item A. If the REMIC doesn’t have its own EIN, it must apply for one. A REMIC may apply for an EIN by one of the methods discussed below.

For REMICs with a startup date before November 12, 1991, enter any capital gain or (loss) on line 5. The REMIC can use the Schedule D, included in the 2011 Form 1066, or a statement showing the same information as it appears on the Schedule D, included in the 2011 Form 1066, to figure the capital gain (loss). Attach the schedule or statement to Form 1066.

Deductions—(Lines 7 Through 14)

Include only deductible amounts on lines 7 through 14. A REMIC isn’t allowed any of the following deductions in computing its taxable income.

Online by going to IRS.gov/EIN . The EIN is issued immediately once the application information is validated.
By mailing or faxing Form SS-4 to the IRS. If the REMIC hasn’t received its EIN by the time the return is due, write “Applied for” in the space for the EIN. For more details, see Pub. 583.

Instructions for Form 1066 (2025) 5

The net operating loss deduction.
The deduction for taxes paid or accrued to foreign countries and U.S. territories.
The deduction for charitable contributions.
The deduction for depletion under section 611 for oil and gas wells.
Losses or deductions allocable to prohibited transactions.

Line 9—Amount accrued to regular interest holders in the REMIC that is deductible as interest. Regular interests in the REMIC are treated as indebtedness for federal income tax purposes. Enter the amount of interest, including original issue discount, accruing to regular interest holders for the tax year. Don’t deduct any amounts paid or accrued for residual interests in the REMIC.

Line 10—Other interest. Don’t include interest deducted on line 9 or interest on indebtedness incurred or continued to purchase or carry obligations on which the interest is wholly exempt from income tax. You may elect to include amortization of bond premium on taxable bonds acquired before 1988 unless you elected to offset amortizable bond premium against the interest accrued on the bond (see the Section I, line 1, instructions). Don’t include any amount attributable to a tax-exempt bond.

Line 11—Taxes. If you have to pay tax on net income from foreclosure property, you should include this tax (from Schedule J, line 10) on line 11 of Form 1066.

Line 4—Overpayment. To the extent permitted by law, the Secretary of the Treasury will cease issuing paper checks for all federal disbursements. Direct deposit is available for this form. If there is an overpayment when filing your return, complete lines 4b, 4c, and 4d to input your direct deposit information. If you qualify for an exception, an alternative payment option (paper check) may be permitted. See Non-electronic federal disbursement exceptions , later for more information.

Line 4b. The routing number must be nine digits. The first two digits must be 01 through 12 or 21 through 32. Ask your financial institution for the correct routing number to enter on line 4b if:

Why use direct deposit? You get your refund faster by direct deposit than you do by check. Payment is more secure. There is no check that can get lost or stolen. It is more convenient. You don't have to make a trip to the bank to deposit your check. It saves tax dollars. It costs the government less to refund by direct deposit. It's proven itself. Nearly 90% of social security and veterans benefits are sent electronically using direct deposit.

Account must be in your name. Don't request a deposit of your refund to an account that isn't in your name. The number of refunds that can be directly deposited to a single account or prepaid debit card is limited to three a year. After this limit is reached, paper checks will be sent instead. Learn more at IRS.gov/ DepositLimit .

Line 4a. If line 4a is under $1, we will send a refund only on written request.

Note: See section 164(d) for apportionment of taxes on real property between the seller and purchaser.

The routing number on a deposit slip is different from the routing number on your checks,

Enter taxes accrued during the tax year but don’t include the following.

Federal income taxes (except the tax on net income from foreclosure property).
Foreign or U.S. territory income taxes.
Taxes not imposed on the REMIC.
Taxes, including state or local sales taxes, that are paid or incurred in connection with an acquisition or disposition of property. Such taxes must be treated as a part of the cost of the acquired property or, in the case of a disposition, as a reduction in the amount realized on the disposition.

Line 12—Depreciation. See the Instructions for Form 4562, Depreciation and Amortization, or Pub. 946, How To Depreciate Property, to figure the amount of depreciation to enter on this line. You must complete and attach Form 4562 if the REMIC placed property in service during 2025, claims a section 179 expense deduction, or claims depreciation on any car or other listed property.

Line 13—Other deductions. Attach a statement listing by type and amount any other allowable deductions (such as bad debt deductions) for which no line is provided on Form 1066. If there is only one item of other deductions, describe it in parentheses to the left of the entry on line 13 instead of attaching a statement.