Understanding City Office REIT's 2024 Distribution Tax Implications

City Office REIT Distribution Tax Treatment Overview

City Office REIT, Inc. (NYSE: CIO) has recently released important details concerning the tax treatment of its 2024 distributions. As a shareholder, understanding how these distributions impact your taxes is crucial for accurate filing and compliance. The company is dedicated to providing transparent and helpful information to assist all shareholders in navigating these tax implications.

Tax Advice for Shareholders

This tax information is meant to guide shareholders in understanding how these distributions may be treated under tax law. Importantly, shareholders should consult with their own tax advisors to comprehend the specific implications based on their circumstances. Each investor’s situation is unique, and having professional advice ensures compliance and accuracy during the tax season.

Distribution Details for Common Stock

The tax treatment of distributions is detailed below, incorporating both the common stock and the preferred stock offers from City Office REIT. For the common stock and the 6.625% Series A Cumulative Redeemable Preferred Stock, shareholders will receive the following distributions:

Block of Information for Common Stock Distributions

To clarify the distribution details for the common stock: the record date falls on January 10, 2024, and payment will take place on January 24, 2024. Each shareholder can expect a total distribution of $0.100 per share. A portion of this figure, $0.008539, will be classified as ordinary dividends, while another $0.091461 will count as a Section 199A dividend.

Distribution Details for Preferred Stock

City Office REIT has not only provisions for common stock but also pertinent details for its preferred stockholders. The record date for these shares is similarly set for January 10, 2024, with payments issued on January 24, 2024. Holders can anticipate a substantial distribution of $0.414063 per share, all categorized as ordinary dividends, thus enhancing shareholder value and confidence.

Full Breakdown of Tax Treatment

The tax information provided serves as a guideline for shareholders who should additionally reference their Forms 1099 and other pertinent tax documents from their investee brokerages. This includes the specifics of each type of distribution and how they should be reported for tax liability.

About City Office REIT, Inc.

City Office REIT, Inc. focuses on acquiring, owning, and managing office properties, primarily in dynamic Sun Belt markets. Currently, the company boasts over 5.4 million square feet of premium office space. Its election as a real estate investment trust allows it to operate under specific tax advantages which benefit its shareholders.

Important Considerations for Investors

Understanding the tax implications of dividend distributions is critical for maintaining compliance with federal tax laws. Changes in company dividends, the structure of distributions, and tax regulations can affect shareholders. Therefore, staying informed through the company's releases and consulting with tax professionals remains a sound practice.

Frequently Asked Questions

What are the key dates for City Office REIT’s distributions?

The record date for distributions for both common and preferred stockholders is January 10, 2024, with payment on January 24, 2024.

How should I report the distributions on my taxes?

Shareholders should consult their Forms 1099 received from their brokerages in addition to this tax treatment information.

What types of dividends are included in the distributions?

The distributions include ordinary dividends and portions qualifying as Section 199A dividends for the common stock.

Where can I find more information about City Office REIT?

Investors are encouraged to read company releases and report filings which provide valuable insights.

Who should I contact for more information?

For further inquiries, shareholders can reach out to Anthony Maretic, CFO of City Office REIT, for detailed assistance.

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