Massive multiple-input multiple-output (MIMO) systems can be applied to support numerous internet of things (IoT) devices using its excessive amount of transmitter (TX) antennas. However, one of the big obstacles for the realization of the massive MIMO system is the overhead of reference signal (RS), because the number of RS is proportional to the number of TX antennas and/or related user equipments (UEs). It has been already reported that antenna group-based RS overhead reduction can be very effective to the efficient operation of massive MIMO, but the method of deciding the number of antennas needed in each group is at question. In this paper, we propose a simplified determination scheme of the number of antennas needed in each group for RS overhead reduced massive MIMO to support many IoT devices. Supporting many distributed IoT devices is a framework to configure wireless sensor networks. Our contribution can be divided into two parts. First, we derive simple closed-form approximations of the achievable spectral efficiency (SE) by using zero-forcing (ZF) and matched filtering (MF) precoding for the RS overhead reduced massive MIMO systems with channel estimation error. The closed-form approximations include a channel error factor that can be adjusted according to the method of the channel estimation. Second, based on the closed-form approximation, we present an efficient algorithm determining the number of antennas needed in each group for the group-based RS overhead reduction scheme. The algorithm depends on the exact inverse functions of the derived closed-form approximations of SE. It is verified with theoretical analysis and simulation that the proposed algorithm works well, and thus can be used as an important tool for massive MIMO systems to support many distributed IoT devices.