taxable income
(6)In the case of any taxable year for which part II of subchapter M (relating to real estate investment trusts) applies to the taxpayer— (A)the net operating loss for such taxable year shall be computed by taking into account the adjustments described in(other than the deduction for dividends paid described in section 857(b)(2)(B)); (B)where such taxable year is a “prior taxable year” referred to in paragraph (2) of subsection (b), the term “taxable income” in such paragraph shall mean “real estate investment trust taxable income” (as defined in); and (C)subsection (a)(2) shall be applied by substituting “real estate investment trust taxable income (as defined inbut without regard to the deduction for dividends paid (as defined in section 561))” for “taxable income”.