AMH Announces Tax Treatment of 2023 Distributions

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AMH (NYSE: AMH) announced the tax treatment of its 2023 cash distributions for common shares and preferred shares. The distributions were classified as ordinary dividend income and capital gain distributions. 100% of the ordinary dividend income is treated as Internal Revenue Code (IRC) Section 199A Qualified REIT Dividend Income. Shareholders are advised to consult their tax advisors for specific tax treatment.

LAS VEGAS, Jan. 31, 2024 /PRNewswire/ -- AMH (NYSE: AMH) (the "Company"), a leading large-scale integrated owner, operator, and developer of single-family rental homes, today announced the tax treatment of the Company's 2023 cash distributions.

For the tax year ended December 31, 2023, quarterly cash distributions for its:

• Common shares
• 5.875% Series G redeemable perpetual preferred shares
• 6.25% Series H redeemable perpetual preferred shares

were classified as follows:

Classification	3/31/2023	6/30/2023	9/29/2023	12/29/2023
Ordinary Dividend Income(1)	76.301567 %	25.354363 %	25.354363 %	25.354363 %
Capital Gain Distributions(2)(3)(4)	23.698433 %	74.645637 %	74.645637 %	74.645637 %
Total	100.000000 %	100.000000 %	100.000000 %	100.000000 %

(1)	100% of the Ordinary Dividend Income is treated as Internal Revenue Code (IRC) Section 199A Qualified REIT Dividend Income. Treasury Regulation §1.199A-3(c)(2)(ii) requires that shareholders hold their REIT shares for at least 45 days in order for the dividends to be treated as Section 199A Dividends.
(2)	27.519808% of the capital gain distributions is treated as unrecaptured IRC Section 1250 gain.
(3)	Pursuant to Treasury Regulation §1.1061-6(c), the Company is disclosing additional information related to the capital gain dividends reported on Form 1099-DIV, Box 2a, Total Capital Gain Distributions for purposes of IRC Section 1061. IRC Section 1061 is generally applicable to direct and indirect holders of "applicable partnership interests." The "One Year Amounts" and "Three Year Amounts" required to be disclosed are both zero with respect to the 2023 distributions, since all capital gain distributions relate to IRC Section 1231 gains. Shareholders should consult with their tax advisors to determine whether IRC Section 1061 applies to their capital gain distributions.
(4)	100% of the capital gain distributions represent gain from dispositions of US real property interests pursuant to IRC Section 897 for foreign shareholders.

The Company's tax return for the year ended December 31, 2023, has not yet been filed. As a result, the income tax classification for the distributions discussed above has been calculated using the best available information as of the date of this release.

The Company encourages shareholders to consult with their own tax advisors as to the specific tax treatment of these distributions.

About AMH

AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We're an internally managed Maryland real estate investment trust (REIT) focused on acquiring, developing, renovating, leasing and managing homes as rental properties. Our goal is to simplify the experience of leasing a home and deliver peace of mind to households across the country.

In recent years, we've been named one of Fortune's 2023 Best Workplaces in Real Estate™, a 2023 Great Place to Work®, a 2023 Most Loved Workplace®, a 2023 Top U.S. Homebuilder by Builder100, one of America's Most Responsible Companies 2023 and America's Most Trustworthy Companies 2023 by Newsweek and Statista Inc., and a Top ESG Regional Performer by Sustainalytics. As of September 30, 2023, we owned over 59,000 single-family properties in the Southeast, Midwest, Southwest and Mountain West regions of the United States. Additional information about AMH is available on our website at www.amh.com. 

AMH refers to one or more of American Homes 4 Rent, American Homes 4 Rent, L.P. and their subsidiaries and joint ventures. In certain states, we operate under AMH Living or American Homes 4 Rent. Please see www.amh.com/dba to learn more.

AMH Contacts:

Trent Frager
Media Relations
Phone: (855) 774-4663
Email: media@amh.com 

Nicholas Fromm
Investor Relations
Phone: (855) 794-2447 
Email: investors@amh.com 

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SOURCE AMH

FAQ

What is the ticker symbol for AMH?

The ticker symbol for AMH is AMH.

What is the tax treatment of AMH's 2023 cash distributions?

AMH's 2023 cash distributions for common and preferred shares were classified as ordinary dividend income and capital gain distributions.

How much of the ordinary dividend income is treated as IRC Section 199A Qualified REIT Dividend Income?

100% of the ordinary dividend income is treated as IRC Section 199A Qualified REIT Dividend Income.

What should shareholders do regarding the tax treatment of the distributions?

Shareholders are encouraged to consult with their own tax advisors for the specific tax treatment of the distributions.

What is the classification of the capital gain distributions?

The capital gain distributions are treated as unrecaptured IRC Section 1250 gain, pursuant to Treasury Regulation §1.1061-6(c).

Has the Company's tax return for the year ended December 31, 2023, been filed?

The Company's tax return for the year ended December 31, 2023, has not yet been filed.

What should foreign shareholders know about the capital gain distributions?

100% of the capital gain distributions represent gain from dispositions of US real property interests pursuant to IRC Section 897 for foreign shareholders.