JLL Income Property Trust Announces Tax Treatment of 2024 Distributions
PR Newswire
CHICAGO, Jan. 29, 2025
CHICAGO, Jan. 29, 2025 /PRNewswire/ -- JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $6.6 billion in portfolio equity and debt investments, today announced the income tax treatment of its dividends paid in 2024. For the tax year ended December 31, 2024, approximately 18 percent of the distributions paid will qualify as non-dividend distribution or return of capital (box 3 on Form 1099) and approximately 82 percent of distributions paid will qualify as tax advantaged long-term capital gain (box 2a).
"Since JLL Income Property Trust's inception in 2012, one of our primary objectives has been to be a source of durable and growing dividend distributions," said Allan Swaringen, President and CEO of JLL Income Property Trust. "In addition to providing 9 dividend increases over our 12-year history, we also seek to maximize the tax efficiency of our dividends and deliver tax-advantaged distributions to our stockholders. Due to our intensive focus on optimizing the benefits of our REIT structure for investors, over the last 12 years 100% of our distributions have been characterized as either return of capital or long-term capital gain."
The table below summarizes the income tax treatment of distributions paid to Class A stockholders during the year ended December 31, 2024:
Payment Net Distribution Capital Gain Unrecaptured
Record Date Date per share (1) Income (2) Return of Capital Section 1250 Gains
----------- ----------- -------------------- ---------------------- ---------------------- ----------------------------------
3/25/2024 3/28/2024 $ 0.12210 $ 0.10000 81.9 % $ 0.02210 18.1 % $ 0.09190
6/24/2024 6/27/2024 0.13561 0.11106 81.9 % 0.02455 18.1 % 0.10207
9/23/2024 9/26/2024 0.13613 0.11149 81.9 % 0.02464 18.1 % 0.10246
12/23/2024 12/27/2024 0.13576 0.11119 81.9 % 0.02457 18.1 % 0.10218
-------------------- -------------- ------ -------------- ------ ----------------------------------
Total $ 0.52960 $ 0.43374 81.9 % $ 0.09586 18.1 % $ 0.39861
-------------------- -------------- ------ -------------- ------ ----------------------------------
(1) Distributions per share are net of dealer manager fees of 0.85%.
(2) Distributions include 91.9% of Unrecaptured Section 1250 Gain.
The table below summarizes the income tax treatment of distributions paid to Class M stockholders during the year ended December 31, 2024:
Payment Net Distribution Capital Gain Unrecaptured
Record Date Date per share (1) Income (2) Return of Capital Section 1250 Gains
----------- ----------- -------------------- ---------------------- ----------------------------------
3/25/2024 3/28/2024 $ 0.13652 $ 0.11181 81.9 % $ 0.02471 18.1 % $ 0.10275
6/24/2024 6/27/2024 0.14941 0.12237 81.9 % 0.02704 18.1 % 0.11246
9/23/2024 9/26/2024 0.14951 0.12245 81.9 % 0.02706 18.1 % 0.11253
12/23/2024 12/27/2024 0.14924 0.12223 81.9 % 0.02701 18.1 % 0.11233
-------------------- -------------- ------ -------------- ------ ----------------------------------
Total $ 0.58468 $ 0.47885 81.9 % $ 0.10583 18.1 % $ 0.44007
-------------------- -------------- ------ -------------- ------ ----------------------------------
(1) Distributions per share are net of dealer manager fees of 0.30% of NAV.
(2) Distributions include 91.9% of Unrecaptured Section 1250 Gain.
The table below summarizes the income tax treatment of distributions paid to Class A-I stockholders during the year ended December 31, 2024:
Payment Net Distribution Capital Gain Unrecaptured
Record Date Date per share (1) Income (2) Return of Capital Section 1250 Gains
----------- ----------- -------------------- ---------------------- ----------------------------------
3/25/2024 3/28/2024 $ 0.13669 $ 0.11195 81.9 % $ 0.02474 18.1 % $ 0.10288
6/24/2024 6/27/2024 0.15030 0.12310 81.9 % 0.02720 18.1 % 0.11312
9/23/2024 9/26/2024 0.15069 0.12342 81.9 % 0.02727 18.1 % 0.11342
12/23/2024 12/27/2024 0.15061 0.12335 81.9 % 0.02726 18.1 % 0.11336
-------------------- -------------- ------ -------------- ------ ----------------------------------
Total $ 0.58829 $ 0.48181 81.9 % $ 0.10648 18.1 % $ 0.44278
-------------------- -------------- ------ -------------- ------ ----------------------------------
(1) Distributions per share are net of dealer manager fees of 0.30% of NAV.
(2) Distributions include 91.9% of Unrecaptured Section 1250 Gain.
The table below summarizes the income tax treatment of distributions paid to Class M-I stockholders during the year ended December 31, 2024:
Payment Net Distribution Capital Gain Unrecaptured
Record Date Date per share Income (1) Return of Capital Section 1250 Gains
----------- ----------- -------------------- ---------------------- ----------------------------------
3/25/2024 3/28/2024 $ 0.14500 $ 0.11876 81.9 % $ 0.02625 18.1 % $ 0.10914
6/24/2024 6/27/2024 0.15750 0.12899 81.9 % 0.02851 18.1 % 0.11854
9/23/2024 9/26/2024 0.15750 0.12899 81.9 % 0.02851 18.1 % 0.11854
12/23/2024 12/27/2024 0.15750 0.12899 81.9 % 0.02851 18.1 % 0.11854
-------------------- -------------- ------ -------------- ------ ----------------------------------
Total $ 0.61750 $ 0.50573 81.9 % $ 0.11177 18.1 % $ 0.46477
-------------------- -------------- ------ -------------- ------ ----------------------------------
(1) Distributions include 91.9% of Unrecaptured Section 1250 Gain.
The table below summarizes the income tax treatment of distributions paid to Class D stockholders during the year ended December 31, 2024:
Payment Net Distribution Capital Gain Unrecaptured
Record Date Date per share Income (1) Return of Capital Section 1250 Gains
----------- ----------- -------------------- ---------------------- ----------------------------------
3/25/2024 3/28/2024 $ 0.14500 $ 0.11876 81.9 % $ 0.02625 18.1 % $ 0.10914
6/24/2024 6/27/2024 0.15750 0.12899 81.9 % 0.02851 18.1 % 0.11854
9/23/2024 9/26/2024 0.15750 0.12899 81.9 % 0.02851 18.1 % 0.11854
12/23/2024 12/27/2024 0.15750 0.12899 81.9 % 0.02851 18.1 % 0.11854
-------------------- -------------- ------ -------------- ------ ----------------------------------
Total $ 0.61750 $ 0.50573 81.9 % $ 0.11177 18.1 % $ 0.46477
-------------------- -------------- ------ -------------- ------ ----------------------------------
(1) Distributions include 91.9% of Unrecaptured Section 1250 Gain.
The dollar amount reported on each investor's respective 1099-DIV will depend on the total amount of distributions received throughout the year which can be affected by the share class held and the length of time the shares were owned. This release is based on the preliminary results of work on the company's tax filings and may be subject to adjustment.
The income tax allocation for the distributions discussed above has been calculated using the best available information as of the date of the release. The company is releasing information at this time to aid those required to distribute Forms 1099 on the company's distributions. Tax treatment of distributions is dependent on a number of factors and there is no guarantee that future distributions will qualify as a non-dividend distribution, return of capital or long-term capital gain.
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