### Question
Can you define what closely held real estate investment trust means?


### Answer
**Closely held real estate investment trust** is defined as the following in *26 U.S.C. § 6655*:

> a real estate investment trust with respect to which 5 or fewer persons own (after application of subsection (d)(5) of section 856) 50 percent or more (by vote or value) of the stock or beneficial interests in the trust

#### Citation:
  - *26 U.S.C. § 6655*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 68-ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND ASSESSABLE PENALTIES > Subchapter A-Additions to the Tax and Additional Amounts > PART I-GENERAL PROVISIONS**

