income tax – Kat Masters http://katmasters.com/ Wed, 13 Apr 2022 10:33:05 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://katmasters.com/wp-content/uploads/2021/06/icon-2021-06-25T173039.237-150x150.png income tax – Kat Masters http://katmasters.com/ 32 32 Blackstone Credit Closed Ended Funds Declare Monthly Distributions | News https://katmasters.com/blackstone-credit-closed-ended-funds-declare-monthly-distributions-news/ Thu, 10 Mar 2022 21:26:32 +0000 https://katmasters.com/blackstone-credit-closed-ended-funds-declare-monthly-distributions-news/ NEW YORK, March 10, 2022 /PRNewswire/ — Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP (collectively, and with their affiliates in the credit-focused business of Blackstone Inc., “Credit Blackstone“), announced monthly distributions for the three listed closed-end funds it advises, Blackstone Senior Floating Rate Term Fund (NYSE: BSL), Blackstone Long-Short […]]]>

NEW YORK, March 10, 2022 /PRNewswire/ — Blackstone Liquid Credit Strategies LLC, an affiliate of Blackstone Alternative Credit Advisors LP (collectively, and with their affiliates in the credit-focused business of Blackstone Inc., “Credit Blackstone“), announced monthly distributions for the three listed closed-end funds it advises, Blackstone Senior Floating Rate Term Fund (NYSE: BSL), Blackstone Long-Short Credit Income Fund (NYSE: BGX) and Blackstone Strategic Credit Fund (NYSE: BGB) (each a “Fund” and together the “Funds”).

The Funds’ monthly distributions are shown below. The following dates apply to declarations of distribution for the Funds:

Teleprinter

Funds

Monthly distribution per share

BSL

Senior Floating Rate Term Fund

$ 0.071

BGX

Long-Short Credit Income Fund

$ 0.073

BGB

Strategic Credit Fund

$ 0.065

Ex-date:

March 23, 2022

April 21, 2022

May 20, 2022

Registration Date :

March 24, 2022

April 22, 2022

May 23, 2022

Payment date :

March 31, 2022

April 29, 2022

May 31, 2022

The Funds declare a set of monthly distributions each quarter, the amounts of which are closely related to the recent average monthly net income of the respective Fund. Accordingly, monthly distribution amounts for the Funds generally vary from quarter to quarter, and shareholders of a Fund should not expect that Fund to continue to pay distributions in the same amounts shown. above. The dynamic distribution strategy offers Credit Blackstone with greater flexibility to maintain the credit quality of the portfolio in varying market conditions. In addition, the dynamic distribution strategy reduces the need to retain reserves from net investment income to support stable future distributions.

A portion of each distribution may be considered to arise from sources other than net investment income, including but not limited to short-term capital gain, long-term capital gain, or return of capital . The final determination of the source and tax characteristics of such distributions will depend on each Fund’s investment experience during its fiscal year and will be made after the end of the Fund’s fiscal year. Each Fund will send investors a Form 1099-DIV for the calendar year which will set out how to report such distributions for federal income tax purposes.

On Blackstone and Blackstone Credit

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest and the communities in which we work. We do this by using amazing people and flexible capital to help companies solve their problems. Our $881 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth capital, lower quality opportunistic credit, real assets and secondary funds, all on a global scale. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter and Instagram.

Credit Blackstone is one of the largest credit-focused asset managers in the world, with $243 billion in assets under management. We seek to generate attractive risk-adjusted returns for our clients by investing across the full spectrum of the corporate credit market, from government debt to private loans. Our capital supports a wide range of businesses across all industries and geographies, enabling businesses to grow, invest and navigate changing market environments.

Investors wishing to buy or sell shares must place their orders through an intermediary or a broker.

View original content for multimedia download: https://www.prnewswire.com/news-releases/blackstone-credit-closed-end-funds-declare-monthly-distributions-301500553.html

SOURCE Blackstone

]]>
Should you defer capital gains taxes with a 1031 exchange? https://katmasters.com/should-you-defer-capital-gains-taxes-with-a-1031-exchange/ Mon, 28 Feb 2022 14:00:02 +0000 https://katmasters.com/should-you-defer-capital-gains-taxes-with-a-1031-exchange/ Lemon Tree Images/iStock/Getty Images This story is part Taxes 2022CNET’s coverage of the best tax software and everything you need to file quickly, accurately and on time. Selling real estate can generate a large profit, but it also comes with a large tax bill. That’s where a 1031 exchange helps: by giving you a tax-deferred […]]]>

Lemon Tree Images/iStock/Getty Images

This story is part Taxes 2022CNET’s coverage of the best tax software and everything you need to file quickly, accurately and on time.

Selling real estate can generate a large profit, but it also comes with a large tax bill. That’s where a 1031 exchange helps: by giving you a tax-deferred benefit. But 1031 exchanges are complicated and have strict requirements, meaning they’re not for everyone. Also known as a like-kind exchange, a 1031 exchange allows real estate investors to defer paying capital gains tax on the sale of a property on one condition: you must buy a similar property within a specified period, essentially an “exchange” investment property for another.

“In a nutshell, you’re exchanging one property for another, and the new property takes the base of the previous property,” said Marianela Collado, CEO of Tobias Financial Advisors.

Because a 1031 exchange is a complex tax strategy, it is typically used by sophisticated investors who plan to continue buying and selling properties that will increase in value over time. It’s not something you should try to fix on your own. Keep in mind that a 1031 exchange does not eliminate your tax bill; you’re just kicking the box. So while you can defer your capital gains taxes for years, you’ll have to pay Uncle Sam once your replacement property sells.

How a 1031 exchange works

Typically when you sell business property you are taxed on your capital gains (the long term appreciation of the property) and over time you also have to pay tax on the recovery of the property. depreciation on the property (i.e. the income tax you normally have to pay on the gain realized on the sale). For taxable transactions over $250,000 in economic value, you generally have to pay a net investment income tax of 3.8%.

But if you want to sell an investment property and use the money from that sale to buy another property, you can use a 1031 exchange to avoid paying those taxes at the time of the transaction, thus deferring your tax bill.

Although the long-term goal of an investment exchange like this is to defer capital gains tax, real estate investors shouldn’t expect short-term money. A simple 1031 will not produce any income and will not give money to your bank account.

“You have to reinvest all the proceeds to defer paying tax on the entire gain,” Collado said. “In other words, you can’t just reinvest the gain.” For example, if you sell a property for $100,000 and the gain is $75,000, you must reinvest the entire proceeds of $100,000 to avoid paying tax on the $75,000.

When can you use a 1031 exchange?

In most cases, you can only use a 1031 exchange on business or investment property. Let’s say you own a beach house that you rent out regularly and earn a steady income from. This investment property would qualify for a 1031 exchange if you decide to sell it and buy a new, similar investment property.

However, if you have a residential property that you use as a holiday home and sometimes listing on Airbnb, you cannot use a 1031 to sell this property and buy a new tax-deferred vacation home. This is because the property will not be classified as an investment or commercial property.

Although a like-kind exchange must exchange one investment property for another, it need not be to identical property types; it works as long as the properties are comparable. So you can sell a holiday home that you regularly rent out and reinvest the proceeds from the purchase of parking…as long as that parking is for business purposes.

What factors should you consider?

You have a 45 day window to purchase a new property

One of the most common mistakes people make when attempting a 1031 exchange is missing the deadline to find a new property. You only have a small window of 45 days to identify your next investment, and you must close on this property within 180 days (which includes the 45 days). Otherwise, you will not be eligible for this exchange.

“Unsophisticated buyers and sellers struggle to meet deadlines,” said Matt Chancey, tax shelter and private equity consultant at Coastal Investment Advisors. Additionally, it is easier for buyers and sellers to take advantage of the lack of time someone experiences in a 1031 exchange, knowing that they only have 45 days to find a new property and 180 days in total to close. This means you could end up underselling your first property, overpaying for the second, or both.


You cannot add the profits from a real estate sale to your bank account

When you trade real estate, you cannot simply take the money you earn from selling the first property and deposit it into your bank account. It must be held by a specialist custodian called a Qualified Intermediary, an independent agent who facilitates a part of the exchange that real estate investors are legally not allowed to handle on their own.

“QI is essentially just a custodian that will hold your funds at the close of the real estate transaction. If you mix those funds or take an implied receipt, you are no longer eligible for a 1031 exchange,” Chancey said.

If you receive the funds before the trade is complete, you could end up triggering a massive tax bill for yourself, eliminating the tax deferral benefit.

You can find an IQ through an organization like the Federation of Exchange Hosts to help you find someone in your specific state – something that can be critical, as state and local taxes can vary widely.


You should consult experienced real estate professionals

Even for experienced investors, financial advisers recommend partnering with the necessary qualified professionals — such as a CPA, real estate attorney, or stockbroker specializing in 1031 exchanges — to avoid any mishaps.

“Don’t trip over pennies on the way to dollars,” Chancey said. “If you need a good real estate or tax lawyer, get one.” Additionally, one of the finance professionals you work with can often act as an IQ.


The bottom line for real estate investors

A 1031 exchange is a valuable tool for deferring capital gains taxes on investment properties, but it’s a strategy that requires intimate knowledge of the myriad types of taxes associated with real estate transactions. You should always hire professionals to walk you through the process.

And while a 1031 exchange is an effective way to defer taxes, once you’re ready to sell your last investment property and aren’t buying a new one, your tax bill will eventually be due.

]]>
The student visa exception: a good thing, but not a panacea https://katmasters.com/the-student-visa-exception-a-good-thing-but-not-a-panacea/ Thu, 24 Feb 2022 03:29:31 +0000 https://katmasters.com/the-student-visa-exception-a-good-thing-but-not-a-panacea/ In a previous article, we provided an overview of determining a person’s U.S. tax residency status under the Substantial Presence Test (the “SPT”), a test that relies on a mathematical formula to calculate the days of an individual’s physical presence in the United States. For some “students” (a term defined not only by U.S. tax […]]]>

In a previous article, we provided an overview of determining a person’s U.S. tax residency status under the Substantial Presence Test (the “SPT”), a test that relies on a mathematical formula to calculate the days of an individual’s physical presence in the United States. For some “students” (a term defined not only by U.S. tax law, but also by U.S. immigration law), there is a major benefit: their days in the United States while they stay with a Student visas are generally not “counted” when applying for SPT. This article provides an overview of the student visa exception and highlights some potential pitfalls for the unwary.

For tax purposes, a “student” is defined as a person who is temporarily present in the United States on the appropriate visa and who substantially complies with the terms and requirements of that visa. Most often for students, the appropriate visa is an “F” visa. The individual attending school will receive an F-1 visa, and certain immediate family members of the individual may receive derivative status through an F-2 visa.

The possibility for a student to exclude days of presence in the United States has its obvious advantages, but this exception is not unlimited. In general, a student can only exclude days under the student visa exception for five years, with any part of a year counting as a full year for this purpose. Once the five-year threshold is crossed, a student can no longer exclude days of presence in the United States, unless other measures are taken. The following simple example illustrates these basic rules:

  • Mr. Z first arrives in the United States on December 30, 2017, on an F-1 visa, to begin a program of study. 2017 counts as a full year towards the five-year threshold.
  • Mr. Z remains in the United States until the end of 2021 and meets the terms of his student visa. 2021 will count as the fifth year of MZ’s student status
  • Mr. Z’s days in the United States from December 30, 2017 to December 31, 2021 are not “counted” for purposes of applying the TPS.
  • Mr. Z decides to continue his studies in the United States until 2022 and obtains the appropriate immigration law approvals to remain in the United States in 2022 on his student visa.
  • Absent further action, Mr. Z’s “student” status will generally end on January 1, 2022 and Mr. Z will begin counting his days in the United States.

In order to extend student status beyond the fifth year, the individual must establish that they do not intend to reside permanently in the United States and that they have substantially complied with the requirements of his student visa. The facts and circumstances to be considered in determining whether a person has demonstrated the requisite “intent” include, but are not limited to: (i) whether that person maintained a closer connection with a foreign country; and (ii) whether the individual has taken affirmative action to change the individual’s status to that of a permanent legal resident (i.e., a green card holder).

It may seem that for a student whose days in the US are not counted for TPS purposes, there are no US income tax issues that the student has to deal with. worry; however, that would be a dangerous assumption to make. For starters, like any other nonresident alien, a student will still be subject to US tax on their US-source taxable income (for example, a dividend paid by a US corporation). Additionally, although capital gains are generally not subject to US income tax in the case of a nonresident alien (with the exception of US real estate gains and certain US business or commercial gains), an often forgotten rule lurks in the shadows.

For nonresident aliens who are physically present in the United States for 183 days or more during the tax year, a 30% tax is imposed on US-source capital gains. This rule has very limited application, because for most individuals, if they are present in the United States for 183 days or more, they are likely to be considered US tax residents, subject to US income tax in under the normal rules that apply to all US taxpayers. . Students, however, are one of the few categories of people to whom this rule applies.

The source of capital gains for these students is generally determined based on the location of their “tax household”. For these purposes, tax household generally means the person’s principal place of business or, if the person has no principal place of business, the person’s usual place of residence in the real and substantial sense (i.e. i.e. where the person spends most of his or her time). Determining the location of an individual’s tax household can be difficult and often requires the analysis of subjective elements. Although not a binding law, the IRS addresses the issue and provides guidance on its website (Nonresident Alien Students and the Tax Home Concept and The Taxation of Capital Gains of Nonresident Alien Students, Scholars and Employees of Foreign Governments).

Clients and their advisors should remember that just because a person’s days in the United States do not count for TPS purposes does not mean that US tax matters can be overlooked. This can be especially important in a pre-immigration planning setting, where a person is going to school in the United States with the intention of staying on a more permanent basis after completing their program of study. Traditional pre-immigration planning techniques in this context could have disastrous US tax results by triggering large capital gains which, because the individual has a US tax home, are subject to US federal income tax. Consideration should also be given to the effect that spending so much time in the United States will have on the person’s domicile status for US gift and estate tax purposes.

Additionally, it is important to remember that while classification as a student has significant tax consequences, the starting point of the analysis is a matter of immigration law. In order to benefit from the tax advantages linked to student status, the person must comply with the conditions of their student visa. Therefore, an immigration lawyer should always be consulted to sort out these issues.

]]>
Does the alternative minimum tax apply to you https://katmasters.com/does-the-alternative-minimum-tax-apply-to-you/ Fri, 11 Feb 2022 18:06:14 +0000 https://katmasters.com/does-the-alternative-minimum-tax-apply-to-you/ The Alternative Minimum Tax (AMT) ensures that people in higher tax brackets pay minimum tax even though they are eligible for many deductions. It’s almost as if the IRS is forcing some high earners to wear a pair of wedge heels as they try to play limbo. Even though they have the ability to win […]]]>

The Alternative Minimum Tax (AMT) ensures that people in higher tax brackets pay minimum tax even though they are eligible for many deductions.

It’s almost as if the IRS is forcing some high earners to wear a pair of wedge heels as they try to play limbo. Even though they have the ability to win the game (in this analogy, winning the game means avoiding as much tax debt as possible), the IRS (and a few states: California, Colorado, Connecticut, Iowa, and Minnesota) wants to make it harder to reach low Flo-Rida levels.

Basically, it goes like this: there is the usual method of filing taxes and the “platform stub” method of alternative minimum tax. If the AMT method makes someone pay more taxes, so be it.

To find out if you need to pay AMT, you need to tally your taxes in the usual way and compare them side by side. The good news is that most tax filing software will automatically calculate whether you owe the AMT by running the AMT 6251 form in the background, even if you don’t realize it.

What the AMT was designed to do

In 1969, Secretary of the Treasury Joseph W. Barr testified before Congress. It revealed that 155 taxpayers with incomes over $200,000 in the 1966 tax year (equivalent to $1.72 million today) legally paid no federal income tax. . The American people were livid. In response, more people wrote to their representatives in Congress about it than about the Vietnam War, and the AMT was born.

The confusing rules around AMT are another reason why some people hate it. When the AMT is not indexed to inflation, it can also lead to bracket drift, when applied to highs (but not super highs), which can hurt upper middle income people.

crush numbers

Here is a quick overview of how taxes are normally calculated on your 1040:

  1. Find your total or gross income by adding together your earned (salaries, tips, commissions, and bonuses) and unearned (dividends, interest, and capital gains) income.
  2. Subtract deductions above the line (for example, HSA dues and student loan interest) to find your adjusted gross income (AGI).
  3. Take your other deductions, whether standard or itemized, to determine your taxable income.
  4. Multiply each bracket of your taxable income by its corresponding marginal tax rate. There are seven, ranging from 10% to 37%.
  5. Use tax credits to reduce your taxes owed or increase your refund.
  6. Ah dah! You now know how much your tax burden is!

… Okay, we all know taxes aren’t that simple. But to see if you’re in this alternative minimum tax boat, take a look at AMT exemptions. If your income is below the threshold for your filing status, you are probably safe:

  • $72,900 for single or head of household
  • $113,400 for marriages filed jointly
  • $56,700 for married filing separately

The AMT can get VERY complicated, but it’s roughly calculated like this on your AMT 6251 form:

  1. Start with your taxable income that you calculated before on your 1040.
  2. Add or reduce tax preferences such as Standard Deduction and other forms of income such as Incentive Stock Option Spread (ISO) to get your Alternative Minimum Taxable Income (AMTI).
  3. Subtract the AMT exemption listed above that corresponds to your tax filing status, the same way you would with the standard deduction. This exemption is being phased out for single filers above $523,600 of income and married filers jointly filing at $1,047,200 of income.
  4. Multiply the remaining amount by the appropriate tax rate:
    1. 26% for AMTI below $197,700
    2. 28% for AMTI over $197,700
  5. This gives you your provisional minimum tax. If it is higher than the calculation made with the “normal” method to determine your tax payable, then that is what you owe. Dah dah?

When you are likely to pay the AMT

So if your income is higher than the exemptions, does that mean that you automatically owe the AMT and that you have to practice walking in heels? Probably not.

According to the Tax Policy Center, AMT affected only 0.1% of all U.S. households in 2019. The Tax Cuts and Jobs Act (TCJA) of 2017 reduced the number of people subject to AMT because it increased the AMT exemption from $54,300 to $72,900 for single filers and from $84,500 to $113,400 for married filers.

However, unless there is legislation to extend the changes the TCJA has made to the exemption, the AMT will apply to about 3.7% of taxpayers (still few) in 2026.

There are conditions where you may be more likely to owe AMT. They are:

  • If you make a LOT of money and/or realize a large capital gain that pushes you above the transition income amounts.
  • Exercise of stock options. With normal tax calculations, stocks are not taxed until you sell them. However, the AMT treats the difference between your strike price and the stock’s fair market value, or “spread”, as income, which increases your AMTI.

At the end of the line

The AMT is a headache that adds more rules to an already unruly tax code. Be sure to consult tax preparation software or a tax professional to see if this applies to you. While it probably isn’t, that doesn’t mean it’s not worth checking out.

]]>
How can private banking complement your family’s wealth project? https://katmasters.com/how-can-private-banking-complement-your-familys-wealth-project/ Mon, 07 Feb 2022 17:44:15 +0000 https://katmasters.com/how-can-private-banking-complement-your-familys-wealth-project/ Family and Financial Advisor Getty Banking decisions aren’t always at the heart of wealth planning, but they should be part of the conversation. Family wealth plans typically focus on long-term investments or complex tax strategies. Banking solutions don’t often get a lot of attention, but it’s important to look at both sides of the balance […]]]>

Banking decisions aren’t always at the heart of wealth planning, but they should be part of the conversation.

Family wealth plans typically focus on long-term investments or complex tax strategies. Banking solutions don’t often get a lot of attention, but it’s important to look at both sides of the balance sheet and see how loans and deposits can preserve and grow wealth. Day-to-day cash management is integrated into our day-to-day operations, and the use of leverage and appropriate credit and interest rate structures can provide options for individuals and families as they transition from wealth from one generation to the next.

When does it make sense to use private banking services for these solutions? Here are a few situations where families can use banking techniques to meet immediate needs while benefiting their long-term wealth planning.

Should I borrow from a bank to continue my growth?

Creating wealth often means borrowing funds in advance to fund a potentially large opportunity. For most families, this means a bank loan and the risks (and costs) associated with it. Debt can have an impact in the right situations, but as anyone who lived through the financial crisis of 2008/2009 can tell you, debt can have its downsides.

How do you balance the potential gains against the risks? Interest cost is what matters most. When rates are low, debt can help you acquire assets you may need now. It can also help bridge the gap between anticipated liquidity events. For example, maybe you need cash to pay your taxes, but you don’t want to disrupt your investment strategy. You may be able to borrow against your portfolio and meet the need for cash without incurring capital gains and generating more taxes.

What about a mortgage?

Taking out a mortgage on a home or property may seem unwise to wealthy families. Why pay interest on a loan if you can buy the property directly? But in many cases, mortgages offer practical benefits. For example, they can save you from having to liquidate other assets to raise cash for the purchase. The modest interest on a low rate mortgage will often cost far less than the tax impact of selling a highly valued asset. In addition, interest payments on the mortgage may give rise to an income tax deduction. However, you will want to check with your CPA or tax advisor about your particular situation.

More importantly, a mortgage can increase your long-term wealth if the interest rate is low enough. When proceeds from a low-cost loan are used to buy an asset that appreciates at a higher rate than interest, that’s a win. In this case, a mortgage offers an opportunity to build wealth without having to make changes to other parts of your portfolio.

Should I borrow to fund a trust for my children?

As with mortgages, it can seem strange to borrow money to fund trusts for your children or other beneficiaries. But for many families, the other option is to fund the trust with highly valued assets – and thus take on a potentially huge tax burden or pass that tax burden on to future generations. As long as interest rates remain low, there are many situations where interest charges could be significantly lower than tax obligations.

Borrowing can also fund strategies a trust can use to maximize income and estate tax savings, such as buying a growing family business for the benefit of the next generation. Especially for families with complex assets, funding a trust with borrowed money can be both simpler and more cost-effective than funding with long-term cash.

Does auto credit make sense?

It’s a surprisingly common question: when my child needs a car, should I buy it for them or encourage them to wait for the proceeds of their trust? But in many cases, the recommended approach is to help the child get a car loan.

Auto loans can be a very effective introduction to the borrowing and repayment process in a relatively low-stakes environment. They build credit and help the borrower get used to repayment routines. The learning experience is invaluable and probably well worth the usually modest cost of an average car loan.

It is also true that cars are not the ideal way to use trust proceeds. One of the main advantages of a trust is to help manage the tax consequences of transferring family wealth, and this advantage is reduced when you use the proceeds on the depreciation of assets like cars.

Why not keep the loans in the family?

Intra-family loans are one of the great advantages of family patrimony. They’re an easy way to help family members buy a home, start a business, or deal with a financial challenge. Intra-family loans typically carry a lower interest rate than commercial loan rates, making them a less expensive way to enhance wealth-building opportunities for the whole family. They are also a good way to introduce young family members to the responsibilities of a loan.

However, there are rules you must follow if you want to avoid being subject to gift tax. The loan must have a promissory note, repayment schedule, and other required documentation, and the interest rate quoted must be equal to or greater than the applicable federal rate (AFR) published monthly by the IRS .1

Intra-family loans can be a great way to reduce interest costs, while avoiding the usual costs of a bank loan. In addition, they can help you manage the transfer of wealth within your family. Whatever gain the borrower makes from the loan is not subject to gift or inheritance tax.

have the conversation

Although there is no one-size-fits-all approach, a suitable bank loan can be a useful part of your family’s wealth planning. Your age, the types of assets you’ve accumulated, and your beneficiaries all play a role in determining when a bank loan might be a good idea for you and your family. Timing is also important, as these strategies tend to be most useful when interest rates are low and market returns are high.

If you want to know how private banking solutions can help your family achieve their ambitions, contact your CIBC Private Wealth Management advisor or visit Private Bank page.

Private banking is offered by CIBC Bank USA, Member FDIC and Equal Housing Lender. CIBC Bank USA and CIBC Private Wealth Group, LLC are both indirect wholly-owned subsidiaries of CIBC. The CIBC logo is a registered trademark of CIBC, used under licence. The investment products offered are not FDIC insured, may lose value and are not guaranteed by the Bank. Loans subject to credit approval.

IrsApplicable federal tariffs | Internal Revenue Service

]]>
Realty Income Announces 2021 Common Stock Dividend Tax Allocation and Estimated Market Value of VEREIT Notes Exchanged for Realty Income Notes | https://katmasters.com/realty-income-announces-2021-common-stock-dividend-tax-allocation-and-estimated-market-value-of-vereit-notes-exchanged-for-realty-income-notes/ Fri, 28 Jan 2022 21:30:00 +0000 https://katmasters.com/realty-income-announces-2021-common-stock-dividend-tax-allocation-and-estimated-market-value-of-vereit-notes-exchanged-for-realty-income-notes/ SAN DIEGO, January 28, 2022 /PRNewswire/ — Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced the final calculation of the dividend tax status for its 2021 common stock dividends. In addition, Realty Income today announced the final calculation of the dividend tax status for VEREIT’s 2021 common stock dividends. , […]]]>

SAN DIEGO, January 28, 2022 /PRNewswire/ — Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced the final calculation of the dividend tax status for its 2021 common stock dividends. In addition, Realty Income today announced the final calculation of the dividend tax status for VEREIT’s 2021 common stock dividends. , Inc. (VEREIT, formerly NYSE: VER) and 6.70% Seres F Cumulative Redeemable Preferred Shares (Series F Preferred Shares, formerly NYSE: VER-PF) dividends. A portion of the common stock dividend is considered a non-taxable distribution for real estate and VEREIT income. The respective tax characteristics of the dividends paid per share are described below:

Realty Income Corporation Common Stock (CUSIP: 756109104)

Total ordinary dividends paid in 2021(1)

$4.8927123

Share of ordinary dividend income

$1.5146899 (30.958%)

Total capital gains distribution(2)

$0.0854609 (1.747%)

Non-taxable distribution (return of capital)

$3.2925615 (67.295%)

(1)

Note that the amount distributed in 2021 includes the tax distribution of $2,060 of shares of Orion Office REIT Inc. (Orion, NYSE: ONL), which occurred as part of our spin-off from Orion on November 12, 2021, following our merger with VEREIT Inc. on November 1, 2021. The fair market value of these shares was determined to be $20.6272 per share, which was calculated using the five-day volume-weighted average trading price after the episode.

(2)

Unrecovered Section 1250 gain of $0.0649153, or 1.327% of total common dividends paid in 2021, and Section 897 gain of $0.0854609, or 1.747% of total common dividends paid in 2021, both represent a further characterization of, and are part of, “Total Capital Gains Allocation.”

VEREIT, Inc. Common Stock (CUSIP: 92339V308)

Total ordinary dividends paid in 2021

$1.7710000

Share of ordinary dividend income

$1.3051316 (73.695%)

Total capital gains distribution(3)

$0.0227853 (1.286%)

Non-taxable distribution (return of capital)

$0.4430831 (25.019%)

(3)

The unrecaptured Section 1250 gain of $0.0227853, or 1.286% of total ordinary dividends paid in 2021, represents and is a further characterization of the “total capital gains distribution”.

VEREIT, Inc. Preferred Series F Preferred Shares (CUSIP: 92339V209)

Total Ser. F Pref. Stk dividends paid in 2021

$1.3958330

Share of ordinary dividend income

$1.3718823 (98.284%)

Total capital gains distribution(4)

$0.0239507 (1.716%)

(4)

The unrecaptured Section 1250 gain of $0.0239507, or 1.716% of total ordinary dividends paid in 2021, represents and is a further characterization of “total capital gains distribution”.

Shareholders are encouraged to consult their tax advisers as to their specific tax treatment of property income or VEREIT dividends received.

Additionally, the old VEREIT Notes identified below, which were exchanged for new Realty Income Notes in November 2021, have been determined to be publicly traded for US federal income tax purposes. The estimated issue prices of the New Realty Income Notes have been determined as follows:

Asset name

Target CUSIP

New CUSIP

Series of banknotes

Market value (per $1,000 principal amount)

ARC PROP OPER SHARE 4.600% 2/06/24

03879QAF1

756109BD5

4,600% 2024 Tickets

$1,074.32

BY OPERATIONAL VEREIT 4.625% 01/11/25

92340LAD1

756109BE3

4.625% 2025 Notes

$1,122.75

BY OPERATIONAL VEREIT 4.875% 06/01/26

92340LAA7

756109BF0

4.875% 2026 Notes

$1,139.87

BY VEREIT OPERATIONAL 3.950% 8/15/27

92340LAC3

756109BG8

3.950% 2027 Notes

$1,111.93

BY VEREIT OPERATIONAL 3,400% 01/15/28

92340LAF6

756109BH6

3,400% 2028 Tickets

$1,079.83

BY VEREIT OPERATIONAL 2,200% 6/15/28

92340LAH2

756109BJ2

2.200% 2028 Tickets

$1,013.58

VEREIT BY OPERATIONAL 3.100% 12/15/29

92340LAE9

756109BK9

3.100% 2029 Tickets

$1,073.38

BY VEREIT OPERATIONAL 2.850% 12/15/32

92340LAG4

756109BL7

2.850% 2032 Notes

$1,051.43

About the company

Real Estate Income, the Monthly Dividend Company®is an S&P 500 company and member of the S&P 500 Dividend Aristocrats® index. We invest in people and places to deliver reliable monthly dividends that grow over time. The company is structured as a REIT and its monthly dividends are supported by cash flow from nearly 11,000 real estate properties held under long-term lease agreements with commercial customers. To date, the company has declared 619 consecutive monthly common stock dividends during its 53 years of operation and has increased the dividend 114 times since Realty Income’s IPO in 1994 (NYSE:O). Additional information about the Company may be obtained on the Company’s website at www.realty income.com.

View original content to download multimedia: https://www.prnewswire.com/news-releases/realty-income-announces-2021-common-stock-dividend-tax-allocation-and-estimated-market-value-of -vereit-notes-exchanged-for-real estate-income-notes-301470949.html

SOURCE Real Estate Income Corporation

]]>
Apartment Income REIT Corp. Announces Dividend Income Tax Allocation for 2021 https://katmasters.com/apartment-income-reit-corp-announces-dividend-income-tax-allocation-for-2021/ Wed, 26 Jan 2022 22:07:12 +0000 https://katmasters.com/apartment-income-reit-corp-announces-dividend-income-tax-allocation-for-2021/ Enter Wall Street with StreetInsider Premium. Claim your one week free trial here. DENVER–(BUSINESS WIRE)–Apartment Income REIT (NYSE: AIRC), a real estate investment trust focused on owning and managing quality apartment communities located in the largest markets in the United States, announced today the tax status of its 2021 Distributions paid to shareholders. Details on […]]]>

Enter Wall Street with StreetInsider Premium. Claim your one week free trial here.


DENVER–(BUSINESS WIRE)–Apartment Income REIT (NYSE: AIRC), a real estate investment trust focused on owning and managing quality apartment communities located in the largest markets in the United States, announced today the tax status of its 2021 Distributions paid to shareholders. Details on the tax classifications of distributions are included in the table below:

Class A Common Stock (CUSIP 03750L109)

Registration Date

Payment date

Dividend by

To share

Total ordinary

Dividends

Qualified

Dividends

total capital

To earn

Distribution

Not recovered

Second. Gain 1250(1)

Section 897

Ordinary

Dividends

Section 897

Capital gain(2)

Non-dividend

Distributions

02/12/2021

02/26/2021

$

0.43

0.00000%

0.00000%

33.03032%

7.40788%

0.00000%

33.03032%

66.96968%

05/14/2021

05/28/2021

$

0.43

0.00000%

0.00000%

33.03032%

7.40788%

0.00000%

33.03032%

66.96968%

08/13/2021

08/27/2021

$

0.44

0.00000%

0.00000%

33.03032%

7.40788%

0.00000%

33.03032%

66.96968%

11/12/2021

30/11/2021

$

0.44

0.00000%

0.00000%

33.03032%

7.40788%

0.00000%

33.03032%

66.96968%

Annual

$

1.7400

0.00000%

0.00000%

33.03032%

7.40788%

0.00000%

33.03032%

66.96968%

(1) – The percentage of Sec. 1250 The gain for each of the quarters shown above is a subset of, and included in, the dividend per share.

(2) – The Section 897 capital gain percentage for each of the quarters shown above is a subset of, and included in, the dividend per share.

According to Treas. Reg. § 1.1061-6(c), Apartment Income REIT discloses two additional amounts below for purposes of Section 1061 of the Internal Revenue Code. Section 1061 generally applies to direct and indirect holders of “applicable partnership interests”.

Registration Date

Payment date

Form 1099-DIV

Box 2a, total

Capital gain

Distr. Per share

One year

The amounts

Disclosure by

To share

Three years

The amounts

Disclosure by

To share

02/12/2021

02/26/2021

$

0.142030

$

0.0916

$

0.0916

05/14/2021

05/28/2021

$

0.142030

$

0.0916

$

0.0916

08/13/2021

08/27/2021

$

0.145333

$

0.0937

$

0.0937

11/12/2021

30/11/2021

$

0.145333

$

0.0937

$

0.0937

Annual

$

0.57473

$

0.3707

$

0.3707

Registered shareholders of the Company’s common stock will receive a Form 1099-DIV from the Internal Revenue Service of Computershare, the Company’s 2021 distribution paying agent. If shares were held in “street name” in 2021, the IRS form will be provided by a bank, brokerage firm or agent. As the Company’s income tax return has not yet been filed for the year ended December 31, 2021, the distribution allocations presented here have been calculated using the best information available at this time.

The tax treatment of these distributions by state and local authorities varies and may not be the same as the treatment by the IRS. Because federal and state tax laws affect individuals differently, the Company cannot advise shareholders on how distributions should be reported on their tax returns. The Company encourages shareholders to consult their own tax advisors regarding the federal, state and local tax consequences of such distributions.

Common stock of AIR trades on the New York Stock Exchange under the symbol AIRC and is included in the S&P 400 Index. For more information about AIR, please visit our website at www.aircommunities.com .

AIR Communities

Daniel Cooley, Vice President, Taxation

Investor Relations: 303-757-8101

investors@aircommunities.com

Source: Apartment Income REIT Corp.

]]>
How to find the best stocks and shares ISA – Forbes Advisor UK https://katmasters.com/how-to-find-the-best-stocks-and-shares-isa-forbes-advisor-uk/ Tue, 18 Jan 2022 22:01:13 +0000 https://katmasters.com/how-to-find-the-best-stocks-and-shares-isa-forbes-advisor-uk/ If you’re not familiar with them, Individual Savings Accounts, or ISAs, can seem complicated. It doesn’t help that they come in many different forms. But all you need to remember is that ISAs are a form of financial wrapper providing a tax-free way to save and invest. It’s a good thing to do. The less […]]]>

If you’re not familiar with them, Individual Savings Accounts, or ISAs, can seem complicated.

It doesn’t help that they come in many different forms. But all you need to remember is that ISAs are a form of financial wrapper providing a tax-free way to save and invest.

It’s a good thing to do. The less tax you are legally required to pay on your savings and investments, the more money you can keep.

Annual ISA allowance

Every adult in the UK has an ISA allowance, amounting to £20,000 for the current 2021/22 tax year.

Simply put, this is the maximum amount you are allowed to save in your ISA kitty for the tax year that started April 6, 2021.

You can split your allowance between different types of ISA up to the limit of £20,000. But what you can’t do is carry over unused ISA allowance amounts to another year. It’s basically a ‘use it or lose it’ within the relevant 12 month period.

While many savers prefer the security of keeping their money in a so-called “cash ISA” (effectively a tax-free savings account), others are happy to allocate some or all of their annual allowance to invest in the stock market through a product known as stocks and ISA shares.

Here’s how ISA stocks and shares work…

Before going any further, it is essential to clarify that investing in the stock market is not for everyone. Stock market investments do not come with any guarantees and it is possible to lose money by choosing this route.

You could get back less than you invested and you could lose it all.

That said, over the long term – and by that we mean at least five years, but preferably longer – it is possible for stock market investments to produce returns far greater than those available from, say, ultra-safe deposit accounts. and low interest rate. – especially if inflation is taken into account.

With inflation far exceeding the Bank of England’s base rate currently, looking to the stock market is one of the few ways investors are potentially able to produce a real return on their money over time. time.

What is a Stock and Equity ISA?

A stock and equity ISA is a tax-advantaged account that acts as a wrapper for your investments. It allows you to expose yourself to the stock market in different ways.

These include investing directly in shares of companies (such as those found on the FTSE 100, the UK’s main stock market index featuring its largest companies) and a range of managed funds.

These funds, including mutual funds and investment trusts, are pooled arrangements managed by professional managers. They offer investors exposure to a variety of assets such as stocks, government and corporate bonds, and real estate.

It is also possible to use a stock and equity ISA to invest in more eclectic assets such as fine wines and land. But the majority of investors stick to stocks and bonds.

You can only open one stock and share ISA each year. If you end up with more than one on the go at a time, you can only pay one of them in a tax year.

What are the benefits of a stock and equity ISA?

A stock and equity ISA protects your investment returns from three key tax areas: income tax, dividend tax, and capital gains tax.

Income tax

Income tax does not only apply to your take home pay. It is a tax that is also levied on interest earned by certain types of investments, including bonds and certain funds.

However, any interest earned from interest-bearing investments like these held in a stock and equity ISA is not subject to income tax.

Dividend tax

Stock dividends are income payments made to investors based on profits earned by a company.

Not all companies pay dividends but when they do, as an investor you receive a £2,000 allowance for the 2021/22 tax year before paying tax on them.

Once this limit is exceeded, the rate is then applied at 7.5% for basic rate taxpayers, and 32.5% and 38.1% for higher and additional rate taxpayers, respectively.

However, when investments are held in stocks and shares ISAs, you completely avoid having to pay taxes on dividends.

Capital gains tax

You are liable to pay capital gains tax (CGT) when you realize a gain by selling assets such as shares, a second property (it does not apply to your main residence) and other items such as jewelry.

Everyone has an annual CGT allowance which, for the 2021/22 tax year ending in April, is £12,300. If you hold investments such as stocks outside of an ISA, you will pay tax on any gains you make above this threshold (at a rate of 10% for basic rate taxpayers and 20% for higher and additional rate taxpayers).

However, gains made by investments held in a stock and equity ISA are not subject to CGT.

Finally, another advantage of stock and share ISAs is that if you have to file a tax return, there is no need to report profits there. In fact, you don’t need to mention the fact that you have ISAs.

How Do I Open a Stock and Equity ISA?

ISA stocks and shares are available directly from financial services companies, including banks, financial advisers, stockbrokers and investment management companies.

Another way to open a stock and equity ISA is through an online investment platform or fund supermarket.

In recent years, this option has become the dominant way for so-called retail investors – in other words, people like you and me – to do so.

How to choose a platform?

The investment platform space is competitive with dozens of providers offering access to ISA stocks and shares. Large companies include Hargreaves Lansdown, Interactive Investor, Vanguard, Halifax and AJ Bell.

Providers offer a range of services from basic options to more expensive premium choices.

Finding the best stock and stock ISA provider for you depends on a number of factors, including your familiarity with investing, how you want to invest, and the type of service you are looking for.

For example, experienced investors may be happy with a basic service that simply allows them to buy and sell investments and view their account online.

But, if you’re new to investing, you may be looking for as much information and tools as possible to help you with your investment decisions.

Aimed at inexperienced investors, several providers have created ready-to-use portfolios offering a range of relevant investments based on your particular attitude towards risk.

How much does it cost?

Whether you’re a veteran investor or a newbie, it always costs money to invest, and it’s worth remembering that charges will be applied to your stocks and ISA shares, regardless of how well your investments perform.

Fees are charged for a variety of transactions and will depend on the composition of your particular portfolio – in other words, the range of stocks and funds you hold – as well as your trading style (frequent, occasional, etc).

Platform fees

Almost all providers will charge investors some sort of platform or service fee. This may be a flat rate applied monthly. Or it can be an amount calculated annually (and capped at a maximum figure) based on a percentage of the money you hold on the service.

Fixed fees are preferable if you plan to invest a lot of money as they represent better value compared to the same fees applied to a smaller sum held in your ISA. Percentage-based fees are initially attractive, but become more and more expensive the larger the investment.

Management fees and trading fees

In addition to platform costs, funds held in your ISA stocks and shares will also incur annual management fees from the provider offering the fund itself – an investment management company, for example. This generally varies between 0.1% and 1% of the relevant stake.

Platforms are also likely to apply trading fees each time you buy or sell a stock or fund held in your ISA. Most platforms will either charge a flat fee per trade (which itself may vary depending on how frequently you trade) or it will be calculated as a percentage of the investment you make.

If you plan to do a lot of stock trading, look for platforms that allow a certain number of free trades per month. Some trading apps — basically a version of a platform you can run from your smartphone or tablet — offer the ability to trade stocks commission-free.

The latter make their money in other ways, such as charging currency conversion fees for transactions made on companies based on foreign exchanges.

Transfer fees are another consideration. Most providers are happy to transfer investments into your account for free, but will charge customers when they decide to transfer their holdings to a competing provider.

If you prefer to execute your trades over the phone rather than online, check to see if there are any fees for this before committing to a particular provider.

Also keep in mind that inactivity fees may apply when investors leave their investment account inactive for long periods of time at a time. If this sounds like your potential trading style, check before signing up.

Other Considerations

Keeping a cap on fees is an important consideration for all investors. But there are also other aspects to look out for, including customer service (ideally over the phone and available 24/7), ease of accessing your account, and consumer protection.

Regarding the latter, check that your stock and equity ISA provider is covered by the Financial Services Compensation Scheme (FSCS).

If your supplier goes bankrupt, that means up to £85,000 of your investments will be protected. This does not mean that all losses resulting from poor investment decisions relating to your ISA are covered, only those resulting from the bankruptcy of the company overseeing your investments.


]]>
Colorado State Taxes Fiscal Season 2022 – Forbes Advisor https://katmasters.com/colorado-state-taxes-fiscal-season-2022-forbes-advisor/ Wed, 12 Jan 2022 15:53:54 +0000 https://katmasters.com/colorado-state-taxes-fiscal-season-2022-forbes-advisor/ Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. The state of Colorado requires you to pay taxes whether you are a resident or a non-resident who receives income from a Colorado source. The state income tax rate is 4.5% and […]]]>

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

The state of Colorado requires you to pay taxes whether you are a resident or a non-resident who receives income from a Colorado source. The state income tax rate is 4.5% and the sales tax rate is 2.9% to 15%.

The State of Colorado offers tax deductions and credits to reduce your tax payable, including a standard deduction, itemized deduction, earned income tax credit, child care credit, and dependents and a tax credit for university access.

Colorado income tax brackets and rates

Colorado has a flat tax rate of 4.5% for 2021, which means everyone pays the same state income tax regardless of their income.

Colorado Income Tax Deductions

Charitable contribution deduction

If you take the standard deduction on your federal and Colorado income tax returns, you may be able to deduct the value of your charitable contributions. Contributions must be made to religious organizations, non-profit charitable or educational organizations, or non-profit hospitals and medical research organizations.

Contributions of clothing and household items are eligible, but only if they are in good (or best) used condition or if they are valued over $ 500 based on an appraisal.

To determine how much you can deduct on your Colorado tax return, subtract $ 500 from your total contributions. The result is the amount you can deduct.

Deduction for forest fire mitigation measures

If you own land in Colorado, you can claim a subtraction on your Colorado tax return for the steps you take to mitigate wildfires. Eligible expenses may include payments to contractors, the cost of equipment, or the cost of renting a vehicle. You can deduct 50% of what you paid, up to a maximum of $ 2,500.

Deduction of the contribution to the state education program

Taxpayers can deduct contributions made through CollegeInvest 529 education savings plans. The contributory taxpayer need not be related to the owner or beneficiary of the plan.

Colorado State Income Tax Credits

Earned Income Tax Credit: The Colorado EITC

Colorado residents can claim the Earned Income Tax Credit (EITC) if you apply for the federal EITC. Taxpayers who do not have a Social Security number (or who have a spouse or dependent who does not have an SSN) can also apply for the credit, although you may not have been eligible for it. the federal EITC.

The federal EITC income limit ranges from $ 21,430 to $ 57,414 depending on how you are filing and the number of children or dependents you are claiming. The maximum amount of federal EITC you can claim on your 2021 tax return is $ 6,728.

Colorado’s EITC is equal to 10% of the federal EITC you are entitled to based on your income. So if you qualify for $ 3,000 federally, you can claim $ 300 through the Colorado EITC.

Child care expense credit

If you qualify for a federal child care expense credit, you can also claim a child care expense credit on your Colorado tax return. The credit is equal to 50% of the federal child care credit you claimed for the same year. To be eligible, your federal AGI must be less than $ 60,000.

The child care expense credit is refundable, which means that if the credit exceeds your tax payable, you will receive a refund.

If your federal AGI is less than $ 25,000, you may be eligible for a low-income child care expense credit. You are only eligible if you did not claim the federal child care credit because you did not have to pay federal income tax. The maximum credit for eligible taxpayers is $ 500 for one child or $ 1,000 for two or more children.

Child care contribution credit

If you make a contribution to an eligible child care center or to a program that trains child care providers, you can claim an income tax credit of 50% of your contribution. You can claim a maximum of $ 100,000 per tax year.

The credit is not refundable.

Long-term care insurance credit

If you purchase or make payments on a long term care insurance policy for yourself or your spouse, you can claim a tax credit of up to 25% of what you paid (with a maximum of $ 150 per police).

However, there are income limits for this credit. If you are a single taxpayer, your federal taxable income must be less than $ 50,000. If you are filing jointly and have a policy for a spouse, the federal taxable income limit is also $ 50,000. If you are filing jointly and have two policies or one policy that covers both partners, the federal taxable income limit is $ 100,000.

This credit is not refundable.

Credit for innovative motor vehicles and trucks

Taxpayers who buy an electric or hybrid car or truck are entitled to a tax credit. The owner does not have to be a Colorado resident, but the vehicle must be new and must be Colorado titled and licensed.

The credit value is $ 2,500 for passenger vehicles and increases to $ 10,000 for heavy trucks over 26,000 lbs. For leased passenger vehicles, the credit is $ 1,500.

The credit is refundable.

Do I Pay Colorado Income Tax?

You must file a Colorado income tax return if you receive Colorado income and need to file a federal income tax return. Full-time residents, part-time residents with Colorado income, and non-residents with Colorado income must report.

Residence status

You are considered a part-time resident if you live in Colorado for part of the year. If you live in Colorado part-time, you will use Schedule DR 0104PN to determine the income you need to report on your state income tax return.

Sales tax and sales tax rate

Colorado charges sales taxes of 2.9% to 15%.

Property taxes and property tax rates

Property tax rates are set by each county.

Capital gains taxes

Colorado allows taxpayers to subtract certain capital gains from their tax returns. These gains must be included in the taxpayer’s federal taxable income, and the gain must be realized on real estate. Other restrictions apply.

Inheritance and inheritance tax and exemption from inheritance and inheritance tax

Colorado does not have an estate or inheritance tax.

Compare the best tax software of 2022

]]>
Ten Nuveen Closed-End Funds Announce Availability of 19 (a) Notices https://katmasters.com/ten-nuveen-closed-end-funds-announce-availability-of-19-a-notices/ Thu, 30 Dec 2021 21:51:35 +0000 https://katmasters.com/ten-nuveen-closed-end-funds-announce-availability-of-19-a-notices/ News and research before you hear about it on CNBC et al. Claim your 1-week free trial for Street Insider Premium here. NEW YORK – (BUSINESS WIRE) – Distribution notices 19 (a) for ten Nuveen closed-end funds are now available. These information notices provide further details on the sources of the funds’ regular monthly or […]]]>



News and research before you hear about it on CNBC et al. Claim your 1-week free trial for Street Insider Premium here.


NEW YORK – (BUSINESS WIRE) – Distribution notices 19 (a) for ten Nuveen closed-end funds are now available. These information notices provide further details on the sources of the funds’ regular monthly or quarterly distributions and follow the most recent monthly and quarterly distribution announcements. The full text of these notices is available below or on Nuveen’s website via Distribution Source Estimates.

Important Information Regarding Distributions

December 30, 2021: THIS NOTICE IS FOR INFORMATION ONLY. NO ACTION IS REQUIRED ON YOUR PART. If you would like to receive this notice and other shareholder information electronically, please visit www.investordelivery.com if you are receiving distributions and statements from your financial advisor or brokerage account. An electronic copy of this notice is also posted under the Distribution Notices at www.nuveen.com/cef.

This notice provides information to shareholders regarding fund distributions, as required by applicable securities laws. You should not draw any conclusions about the performance of the Fund’s investments from the amount of this distribution or the terms of the Fund’s managed distribution policy.

The following table provides estimates of the Fund’s distribution sources, reflecting cumulative experience from the start of the year to the end of the month prior to the last distribution. The Funds allocate these estimates equally to each regular distribution throughout the year. Therefore, the information estimated at the end of the specified month shown below is for the current distribution and also represents an updated estimate for all previous months of the year. It is estimated that some funds have distributed more than their income and net realized capital gains; therefore, a portion of the Distributions may be (and is shown below as being deemed to be) a return of capital. A return of capital may occur, for example, when some or all of the money you have invested in the Fund is returned to you. A return of capital distribution does not necessarily reflect the performance of the Fund’s investments and should not be confused with “return” or “income”.

The amounts and sources of distributions shown in this 19 (a) notice are estimates only and are not provided for tax reporting purposes. The actual amounts and the sources of the amounts for tax reporting purposes will depend on the Funds’ investment experience during the remainder of its fiscal year and may be subject to change depending on tax regulations. Each Fund will send a Form 1099-DIV for the calendar year which will tell you how to report these distributions for federal income tax purposes. More details on the distributions of each Fund and the basis for these estimates are available at www.nuveen.com/cef.

Data as of 11/30/2021

Current quarter

Fiscal year

Estimated percentages

Estimated sources of distribution

Estimated sources of distribution

of Breakdown 1

Per share

LT

ST

Back from

Per share

LT

ST

Back from

LT

ST

Back from

Distribution

NII

Earnings

Earnings

Capital city

Distribution

NII

Earnings

Earnings

Capital city

NII

Earnings

Earnings

Capital city

JRS (EF 12/31)

. 1900

0.0056

0.0595

0.1248

0.0000

0.7600

0.0225

0.2382

0.4994

0.0000

3.0%

31.3%

65.7%

0.0%

QQQX (EF 12/31)

.4485

0.0000

0.0586

0.0000

0.3899

1.7940

0.0000

0.2344

0.0000

1.5596

0.0%

13.1%

0.0%

86.9%

SPXX (EF 12/31)

.2450

0.0263

0.0000

0.0000

0.2187

0.9800

0.1054

0.0000

0.0000

0.8746

10.8%

0.0%

0.0%

89.2%

BXMX (FYE 12/31)

.2150

0.0110

0.1284

0.0000

0.0756

0.8600

0.0441

0.5134

0.0000

0.3025

5.1%

59.7%

0.0%

35.2%

DIAX (FYE 12/31)

.2730

0.0431

0.0301

0.0000

0.197

1.0920

0.1725

0.1205

0.0000

0.7990

15.8%

11.0%

0.0%

73.2%

JCE (EF 12/31)

.3040

0.0000

0.3040

0.0000

0.0000

1.2160

0.0000

1.2160

0.0000

0.0000

0.0%

100.0%

0.0%

0.0%

NMAI (EF 12/31)

.3500

0.0179

0.2549

0.0772

0.0000

0.3500

0.0179

0.2549

0.0772

0.0000

5.1%

72.8%

22.1%

0.0%

1 Net investment income (NII) is a projection to the end of the current calendar quarter using actual data up to the month end date shown above. The capital gains amounts are as of the date shown above. JRS owns REIT securities which attribute their distributions to a variety of sources including NII, capital gains and return. The estimated sources per share above include an allocation of NII based on the prior year’s awards which may differ from the actual final awards for the current year.

Data as of 11/30/2021

Current month

Fiscal year

Estimated percentages

Estimated sources of distribution

Estimated sources of distribution

of Breakdown 1

Per share

LT

ST

Back from

Per share

LT

ST

Back from

LT

ST

Back from

Distribution

NII

Earnings

Earnings

Capital city

Distribution

NII

Earnings

Earnings

Capital city

NII

Earnings

Earnings

Capital city

NDMO (EF 10/31)

.0765

0.0418

0.0000

0.0000

0.0347

0.0765

0.0418

0.0000

0.0000

0.0347

54.6%

0.0%

0.0%

45.4%

JRI (EF 12/31)

.0965

0.0749

0.0000

0.0000

0.0216

1.0615

0.8236

0.0000

0.0000

0.2379

77.6%

0.0%

0.0%

22.4%

NPCT (EF 12/31)

.1030

0.0397

0.0000

0.0047

0.0586

0.6180

0.2384

0.0000

0.0279

0.3517

38.6%

0.0%

4.5%

56.9%

Net investment income (NII) and capital gains amounts are as of the month end date shown above.

The following table provides information about distributions and total return over various time periods. This information is intended to help you better understand whether the returns for the periods specified were sufficient to meet the distributions.

Data as of 11/30/2021

Tax

annualized

Accumulation

Quarterly

YTD

5 years

Fiscal year

Fiscal year

Fiscal year

Creation

Dist

Dist

NAV

Return to NAV2

Dist rate on NAV1

Return on net asset value

Dist rate on NAV1

JRS (EF 12/31)

nov-2001

. 1900

.7600

12.32

10.34%

6.17%

34.48%

6.17%

QQQX (EF 12/31)

january-2007

.4485

1.7940

29.52

15.90%

6.08%

17.63%

6.08%

SPXX (EF 12/31)

Nov-2005

.2450

.9800

18.21

10.85%

5.38%

17.41%

5.38%

BXMX (FYE 12/31)

Oct-2004

.2150

.8600

15.07

9.19%

5.71%

14.50%

5.71%

DIAX (FYE 12/31)

Apr-2005

.2730

1.0920

17.47

8.11%

6.25%

9.83%

6.25%

JCE (EF 12/31)

march-2007

.3040

1.2160

16.86

13.67%

7.21%

21.34%

7.21%

NMAI (EF 12/31)

Nov-2021

.3500

.3500

19.51

-2.45%

1.79%

-2.45%

1.79%

1 As a percentage of the NAV 30/11/2021.

2 The 5-year NMAI return reflects the annualized return since the creation of the net asset value

Data as of 11/30/2021

Tax

annualized

Accumulation

Monthly

YTD

5 years

Fiscal year

Fiscal year

Fiscal year

Creation

Dist

Dist

NAV

Return to NAV2

Dist rate on NAV1

Return on net asset value

Dist rate on NAV1

NDMO (EF 10/31)

Aug-2020

.0765

.0765

15.83

10.10%

5.80%

1.96%

0.48%

JRI (EF 12/31)

Apr-2012

.0965

1.0615

16.50

5.84%

7.02%

10.95%

6.43%

NPCT (EF 12/31)

Apr-2021

.1030

.6180

19.65

1.32%

5.89%

1.32%

3.15%

1 As a percentage of the NAV 30/11/2021.

2 The 5-year NPCT and NDMO return figure reflects the annualized return since inception of the NAV

For more information, please visit the Nuveen CEF home page www.nuveen.com/closed-end-funds or contact:

Finance professionals

800-752-8700

Investors

800-257-8787

Media

media-inquiries@nuveen.com

About Nuveen

Nuveen, TIAA’s investment manager, offers a comprehensive suite of results-driven investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $ 1.2 trillion in assets under management as of September 30, 2021 and operations in 27 countries. Its investment specialists offer in-depth expertise across a full range of traditional and alternative investments across a wide range of vehicles and custom strategies. For more information, please visit www.nuveen.com.

Nuveen Securities, LLC, member of FINRA and SIPC.

The information contained on the Nuveen site is not part of this press release.

FORWARD-LOOKING STATEMENTS

Certain statements made in this press release are forward-looking statements. Actual future results or events may differ materially from those anticipated in forward-looking statements due to many factors. These include, but are not limited to:

  • market developments;

  • legal and regulatory developments; and

  • other additional risks and uncertainties.

Nuveen and the closed-end funds managed by Nuveen and its affiliates assume no responsibility to publicly update or revise any forward-looking statements.

EPS-1970981PR-E1222X

Finance professionals

800-752-8700

Investors

800-257-8787

Media

media-inquiries@nuveen.com

Source: Nuveen


]]>