Understanding Iron Mountain's 2024 Distribution Tax Treatment

Introduction to Iron Mountain's Tax Treatment for Distributions

Iron Mountain Incorporated (NYSE: IRM), a recognized leader in information management services, recently unveiled crucial information regarding the tax treatment of its distributions for the year 2024. Recognizing the importance of clear communication with its investors, Iron Mountain aims to ensure stockholders have the necessary details to manage their tax obligations effectively.

Distribution Breakdown and Tax Forms

For those who held common stock of Iron Mountain throughout 2024, an IRS Form 1099-DIV will be distributed by Computershare, the company's designated transfer agent. This document is critical for accurately reporting any dividends received on federal tax returns. If investors held their shares in "street name," they may receive a different statement, which might only reflect the total distributions paid, rather than detailed information. Therefore, utilizing the information from this announcement becomes essential for accurately filling out tax forms.

Understanding the Distributions

When examining the distributions for 2024, it’s important to note how these figures are categorized on the tax forms. The ordinary taxable dividends, qualified dividends, and various capital gains are outlined for every payment made throughout the year. As stated in the announcement, the amount recipients can expect from each payment will be itemized along with their respective tax implications.

Key Distribution Dates and Amounts

Iron Mountain has scheduled several payment dates during 2024, including:

• January 4: Total distribution of $0.650000, with $0.536996 categorized as ordinary taxable dividend.
• April 4: Similar total payment of $0.650000, again with $0.536996 as an ordinary taxable dividend.
• July 5: The distribution remains consistent at $0.650000, maintaining the ordinary taxable dividend amount.
• October 3: An increase to $0.715000 for the total distribution, with $0.590695 reported as ordinary taxable dividend.

These structured payments indicate Iron Mountain's commitment to returning value to its shareholders while providing transparency regarding the taxation of those distributions.

Tax Reporting Considerations

It’s critical to understand that federal tax regulations can influence taxpayers differently, so it is advisable for stockholders to consult with tax professionals regarding how best to report these distributions on their federal tax returns. Moreover, state and local laws may differ from federal taxation rules regarding Real Estate Investment Trust (REIT) distributions, adding another layer to consider for investors.

About Iron Mountain Incorporated

Iron Mountain Incorporated (NYSE: IRM) serves a diverse clientele, with over 240,000 customers across 60 countries. Notable among its clients are roughly 95% of the Fortune 1000 companies. Iron Mountain focuses on leveraging assets to deliver valuable insights, merging physical and digital information services to drive data management and security.

Their extensive portfolio encompasses solutions that address various needs, including information management, safeguarding of data, and asset lifecycle management. This wide-ranging approach highlights Iron Mountain's dedication to safety, sustainability, and continued innovation for its clientele.

Frequently Asked Questions

What is the significance of the IRS Form 1099-DIV?

The IRS Form 1099-DIV is used to report dividends and distributions to shareholders, providing essential information for tax reporting.

How does Iron Mountain determine its dividend payouts?

Dividend payouts are typically based on the company's overall performance, profitability, and strategic plans for growth, reflecting its commitment to returning value to shareholders.

Are distributions subject to state tax regulations?

Yes, state and local tax regulations may differ from federal treatments, so investors should verify their local laws regarding revenue from REITs.

What should I do if I hold shares in street name?

If you hold shares in street name, ensure to request detailed information from your broker or financial institution to effectively report income on your tax return.

How can I learn more about Iron Mountain’s services?

Visit Iron Mountain's website to explore their comprehensive range of services related to information management, security, and data lifecycle management.

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