JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, today announced the tax treatment of the Company's 2023 distributions on its common shares. The income allocations as they will be reported on Form 1099-DIV are set forth in the following table. JBG SMITH recommends consultation with a tax advisor regarding the federal, state, and local income tax consequences of these distributions.
Common Shares – CUSIP number 46590V100
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Distribution Per Share |
2023 Tax Treatment |
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Record Date |
Payable Date |
Total |
Taxable in 2022 |
Taxable in 2023 |
Total Ordinary Dividends |
Qualified Dividends |
Total Capital Gain Distributions |
Unrecap. Section 1250 Gain |
Section 897 Ordinary Gain |
Section 897 Capital Gain |
Section 199A Dividends |
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Form 1099-Div Box: |
1a |
1b1 |
2a2 |
2b3 |
2e |
2f |
5 |
||||||||||||||
12/29/2022 |
01/12/2023 |
$ |
0.225 |
$ |
0.100 |
$ |
0.125 |
$ |
0.025 |
$ |
0.000 |
$ |
0.100 |
$ |
0.034 |
$ |
0.000 |
$ |
0.100 |
$ |
0.025 |
06/23/2023 |
06/30/2023 |
$ |
0.225 |
$ |
0.000 |
$ |
0.225 |
$ |
0.045 |
$ |
0.000 |
$ |
0.180 |
$ |
0.062 |
$ |
0.000 |
$ |
0.180 |
$ |
0.045 |
08/17/2023 |
08/31/2023 |
$ |
0.225 |
$ |
0.000 |
$ |
0.225 |
$ |
0.045 |
$ |
0.000 |
$ |
0.180 |
$ |
0.062 |
$ |
0.000 |
$ |
0.180 |
$ |
0.045 |
11/17/2023 |
12/01/2023 |
$ |
0.225 |
$ |
0.000 |
$ |
0.225 |
$ |
0.045 |
$ |
0.000 |
$ |
0.180 |
$ |
0.062 |
$ |
0.000 |
$ |
0.180 |
$ |
0.045 |
Totals: |
$ |
0.900 |
$ |
0.100 |
$ |
0.800 |
$ |
0.160 |
$ |
0.000 |
$ |
0.640 |
$ |
0.220 |
$ |
0.000 |
$ |
0.640 |
$ |
0.160 |
|
As summarized in the supplemental chart below, for purposes of Section 1061 of the Internal Revenue Code, 100% of the distributions reported as Total Capital Gain Distributions in Box 2a are from sales of assets that either generated Section 1231 gains or were held for more than 3 years. Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests”.
Record Date |
Payable Date |
Total Capital
|
Section 1231
|
Section 1061
|
Section 1061
|
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12/29/2022 |
01/12/2023 |
$ |
0.100 |
$ |
0.074 |
$ |
0.026 |
$ |
0.026 |
06/23/2023 |
06/30/2023 |
$ |
0.180 |
$ |
0.131 |
$ |
0.049 |
$ |
0.049 |
08/17/2023 |
08/31/2023 |
$ |
0.180 |
$ |
0.131 |
$ |
0.049 |
$ |
0.049 |
11/17/2023 |
12/01/2023 |
$ |
0.180 |
$ |
0.131 |
$ |
0.049 |
$ |
0.049 |
Totals: |
$ |
0.640 |
$ |
0.467 |
$ |
0.173 |
$ |
0.173 |
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1 These amounts are a subset of, and included in, Total Ordinary Dividends (Box 1a).
2 For purposes of Section 1061 of the Internal Revenue Code, JBG SMITH is disclosing additional capital gain categories in the supplemental chart.
3 Unrecaptured Section 1250 Gain is a subset of, and included in, Total Capital Gain Distributions (Box 2a).
About JBG SMITH
JBG SMITH owns, operates, invests in, and develops mixed-use properties in high growth and high barrier-to-entry submarkets in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Washington, DC metropolitan area. Approximately two-thirds of JBG SMITH's holdings are in the National Landing submarket in Northern Virginia, which is anchored by four key demand drivers: Amazon's new headquarters; Virginia Tech's under-construction $1 billion Innovation Campus; the submarket’s proximity to the Pentagon; and JBG SMITH’s deployment of next-generation public and private 5G digital infrastructure. JBG SMITH's dynamic portfolio currently comprises 14.7 million square feet of high-growth office, multifamily, and retail assets at share, 99% of which are Metro-served. It also maintains a development pipeline encompassing 9.8 million square feet of mixed-use, primarily multifamily, development opportunities. JBG SMITH is committed to the operation and development of green, smart, and healthy buildings and plans to maintain carbon neutral operations annually. For more information on JBG SMITH please visit www.jbgsmith.com.
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Contacts
Kevin Connolly
JBG SMITH
Senior Vice President, Portfolio Management and Investor Relations
(240) 333-3837
kconnolly@jbgsmith.com
