JLL Income Property Trust Announces Tax Treatment of 2020 Distributions
February 9, 2021
On February 5, 2021, JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $3.4 billion in portfolio assets, announced the income tax treatment of its dividends paid in 2020. For the tax year ended December 31, 2020, approximately 57 percent of the distributions paid will qualify as non-dividend distribution or return of capital (box 3 on Form 1099) and approximately 43 percent of distributions paid will qualify as tax advantaged long-term capital gain (box 2a).
“Our primary investment objectives remain durability of dividend distributions and preservation of invested capital, and even amid the COVID-induced recession, we believe we delivered on that goal in 2020,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “We also strive to be a source of longer-term tax advantaged income for stockholders and for the ninth year in a row we exceeded our target tax efficiency. Further, last year we accelerated the Payment Date of our quarterly dividends and paid five distributions to stockholders who held shares throughout 2020. This resulted in an effective 5.8 percent annualized distribution yield for 2020 on our M-I share class based upon the yearend share price of $11.62, however, this will normalize to four dividend payments in 2021. Finally, the 2017 Tax Cuts and Jobs Act continues to provide substantial tax savings to REIT investors.”
Source: SEC
