Understanding the Tax Treatment of Equity LifeStyle Properties' 2024 Distributions
Tax Treatment of Equity LifeStyle Properties' 2024 Distributions
Equity LifeStyle Properties, Inc. (NYSE: ELS) recently disclosed the tax treatment associated with its common stock distributions for the year 2024. This announcement offers a comprehensive overview of how shareholders will be taxed based on the declared distributions.
Distribution Overview
The company will issue four distributions throughout 2024. Key details of these distributions are as follows:
| Record Date | Payable Date | Distribution Per Share | Total Allocable to 2024 | Ordinary Taxable Dividend | Nondividend Distribution | Qualified REIT Dividend for IRC §199A |
|---|---|---|---|---|---|---|
| --- | -- | ----- | ----- | ----- | ------ | --------- |
| 03/28/2024 | 04/12/2024 | $0.477500 | $0.477500 | $0.450182 | $0.027318 | $0.450182 |
| 06/28/2024 | 07/12/2024 | $0.477500 | $0.477500 | $0.450182 | $0.027318 | $0.450182 |
| 09/27/2024 | 10/11/2024 | $0.477500 | $0.477500 | $0.450182 | $0.027318 | $0.450182 |
| 12/27/2024 | 01/10/2025 | $0.477500 | $0.447500 | $0.450182 | $0.027318 | $0.450182 |
In total, the company reported that shareholders will receive a total distribution of $1.910000 for 2024. Out of this, $1.800728 will qualify as an ordinary taxable dividend, while a $0.109272 portion will be categorized as a nondividend distribution. It is also important to note that part of the distribution will qualify for the Qualified REIT Dividend under the Internal Revenue Code.
Tax Reporting and Advice
Equity LifeStyle Properties has urged its shareholders to consult with their tax advisors to fully understand the specific tax implications associated with these distributions. Particularly significant is the company's reporting under section 1061 of the Internal Revenue Code, which states that the one-year amounts and three-year amounts disclosures are both $0.00 per share concerning direct and indirect holders of applicable partnership interests.
Company Background
As of October 21, 2024, Equity LifeStyle Properties, Inc. operates primarily as a self-administered and self-managed Real Estate Investment Trust (REIT), boasting a portfolio of 452 properties, mainly located across the United States with a total of approximately 172,870 sites. The company's headquarters is situated in Chicago, where it continues to focus on delivering value to its shareholders while navigating the complexities of tax regulations and reporting.
Conclusion
The announcement regarding the tax treatment of distributions is a crucial piece of information for investors in Equity LifeStyle Properties. By providing clarity on how distributions will be classified for tax purposes, the company aids its shareholders in planning and managing their tax filings effectively in the upcoming year. Shareholders are once again reminded to engage with their advisors to ensure that they fully understand these implications based on their personal financial situations.
Topics Financial Services & Investing）
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