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JBG SMITH Reports Taxable Composition of 2023 Distributions

 

JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, today announced the tax treatment of the Company's 2023 distributions on its common shares. The income allocations as they will be reported on Form 1099-DIV are set forth in the following table. JBG SMITH recommends consultation with a tax advisor regarding the federal, state, and local income tax consequences of these distributions.

Common Shares – CUSIP number 46590V100

 

 

Distribution Per Share

2023 Tax Treatment

 

 

Record Date

Payable Date

Total

Taxable in 2022

Taxable in 2023

Total Ordinary Dividends

Qualified Dividends

Total Capital Gain Distributions

Unrecap. Section 1250 Gain

Section 897 Ordinary Gain

Section 897 Capital Gain

Section 199A Dividends

Form 1099-Div Box:

1a

1b1

2a2

2b3

2e

2f

5

12/29/2022

01/12/2023

$

0.225

$

0.100

$

0.125

$

0.025

$

0.000

$

0.100

$

0.034

$

0.000

$

0.100

$

0.025

06/23/2023

06/30/2023

$

0.225

$

0.000

$

0.225

$

0.045

$

0.000

$

0.180

$

0.062

$

0.000

$

0.180

$

0.045

08/17/2023

08/31/2023

$

0.225

$

0.000

$

0.225

$

0.045

$

0.000

$

0.180

$

0.062

$

0.000

$

0.180

$

0.045

11/17/2023

12/01/2023

$

0.225

$

0.000

$

0.225

$

0.045

$

0.000

$

0.180

$

0.062

$

0.000

$

0.180

$

0.045

Totals:

$

0.900

$

0.100

$

0.800

$

0.160

$

0.000

$

0.640

$

0.220

$

0.000

$

0.640

$

0.160

As summarized in the supplemental chart below, for purposes of Section 1061 of the Internal Revenue Code, 100% of the distributions reported as Total Capital Gain Distributions in Box 2a are from sales of assets that either generated Section 1231 gains or were held for more than 3 years. Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests”.

 

 

Record Date

 

 

Payable Date

 

 

Total Capital

Gain

Distributions

 

 

Section 1231

Gain

Distributions

 

Section 1061

One-Year

Capital Gain

Distributions

 

Section 1061

Three-Year

Capital Gain

Distributions

12/29/2022

01/12/2023

$

0.100

$

0.074

$

0.026

$

0.026

06/23/2023

06/30/2023

$

0.180

$

0.131

$

0.049

$

0.049

08/17/2023

08/31/2023

$

0.180

$

0.131

$

0.049

$

0.049

11/17/2023

12/01/2023

$

0.180

$

0.131

$

0.049

$

0.049

Totals:

$

0.640

$

0.467

$

0.173

$

0.173

1 These amounts are a subset of, and included in, Total Ordinary Dividends (Box 1a).

2 For purposes of Section 1061 of the Internal Revenue Code, JBG SMITH is disclosing additional capital gain categories in the supplemental chart.

3 Unrecaptured Section 1250 Gain is a subset of, and included in, Total Capital Gain Distributions (Box 2a).

About JBG SMITH

JBG SMITH owns, operates, invests in, and develops mixed-use properties in high growth and high barrier-to-entry submarkets in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Washington, DC metropolitan area. Approximately two-thirds of JBG SMITH's holdings are in the National Landing submarket in Northern Virginia, which is anchored by four key demand drivers: Amazon's new headquarters; Virginia Tech's under-construction $1 billion Innovation Campus; the submarket’s proximity to the Pentagon; and JBG SMITH’s deployment of next-generation public and private 5G digital infrastructure. JBG SMITH's dynamic portfolio currently comprises 14.7 million square feet of high-growth office, multifamily, and retail assets at share, 99% of which are Metro-served. It also maintains a development pipeline encompassing 9.8 million square feet of mixed-use, primarily multifamily, development opportunities. JBG SMITH is committed to the operation and development of green, smart, and healthy buildings and plans to maintain carbon neutral operations annually. For more information on JBG SMITH please visit www.jbgsmith.com.

Contacts

Kevin Connolly

JBG SMITH

Senior Vice President, Portfolio Management and Investor Relations

(240) 333-3837

kconnolly@jbgsmith.com

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