CareTrust REIT, Inc. Announces Tax Treatment of 2022 Dividends

Rhea-AI Summary

CareTrust REIT (NYSE:CTRE) announced the tax status of its 2022 dividends. Shareholders of record will receive IRS Form 1099-DIV from Broadridge Corporate Issuer Solutions detailing dividend classifications, including ordinary and qualified dividends. The total cash distributions for 2022 amounted to $1.3650 per share. Notably, due to exceeding earnings and profits, the January 2023 distribution will be treated as a 2023 distribution, resulting in $0.275 reported for 2023 Form 1099. Shareholders are advised to consult tax advisors for proper reporting.

Positive

• Total cash distributions for 2022 were $1.3650 per share.
• The company maintains a structured approach to reporting dividends, aiding shareholders in tax reporting.

Negative

• The January 2023 distribution will be reported for 2023 tax purposes, which may confuse shareholders.

SAN CLEMENTE, Calif.--(BUSINESS WIRE)-- CareTrust REIT, Inc. (NYSE:CTRE) reported today the tax status of its 2022 dividends paid to shareholders. Details on the classifications of the dividends are included in the table below:

DISTRIBUTIONS ON CARETRUST COMMON STOCK
								Box 1a		Box 1b		Box 2a		Box 2b		Box 3		Box 5
														Unrecap.
										Qualified				Section
				Taxable						Dividend				1250 Gain				Section
Record	Payment	Distribution		Distribution				Ordinary		(Included in		Capital		(Included in		Non-Dividend		199A
Date	Date	Per Share		Per Share				Dividend		Box 1a)		Gain Distr.		Box 2a)		Distributions		Dividend
12/31/21	01/14/22	$	0.2650	$	0.2650			39.3705	%	0.0000	%	0.0000	%	0.0000	%	60.6295	%	39.3705	%
03/31/22	04/15/22	$	0.2750	$	0.2750			39.3705	%	0.0000	%	0.0000	%	0.0000	%	60.6295	%	39.3705	%
06/30/22	07/15/22	$	0.2750	$	0.2750			39.3705	%	0.0000	%	0.0000	%	0.0000	%	60.6295	%	39.3705	%
09/30/22	10/14/22	$	0.2750	$	0.2750			39.3705	%	0.0000	%	0.0000	%	0.0000	%	60.6295	%	39.3705	%
12/30/22	01/13/23	$	0.2750	$	-	(1	)	0.0000	%	0.0000	%	0.0000	%	0.0000	%	0.0000	%	0.0000	%
Total		$	1.3650	$	1.0900			39.3705	%	0.0000	%	0.0000	%	0.0000	%	60.6295	%	39.3705	%
(1) As the Company's aggregate 2022 cash distributions exceeded its 2022 earnings and profits, the January 2023 cash distribution declared in the fourth quarter of 2022 will be treated as a 2023 distribution for federal income tax purposes and not included on the 2022 Form 1099. If you were a stockholder of record as of December 30, 2022, $0.00 is reported on your 2022 Form 1099 and $0.275 will be reported on your 2023 Form 1099.

Shareholders of record of the Company’s common stock will receive an Internal Revenue Service Form 1099-DIV from Broadridge Corporate Issuer Solutions, the Company’s 2022 dividend paying agent. The form will report the dividends paid and the amounts designated as total ordinary dividends, qualified dividends, total capital gains, unrecaptured section 1250 gains, non-dividend distributions and dividends that may be eligible for the 20% qualified business income deduction under section 199A. If shares were held in “street name” during 2022, the IRS form will be provided by a bank, brokerage firm, or nominee. Because the Company’s tax return has not yet been filed for the year ended December 31, 2022, the dividend income tax allocations presented herein have been calculated using the best available information to date.

The tax treatment of these dividends by state and local authorities varies and may not be the same as the IRS’s treatment. Because federal and state tax laws affect individuals differently, the Company cannot advise shareholders on how dividends should be reported on their tax returns. The Company encourages shareholders to consult with their own tax advisors with respect to the federal, state and local income tax consequences of these dividends.

About CareTrust^TM

CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States. More information about CareTrust REIT is available at www.caretrustreit.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005942/en/

CareTrust REIT, Inc., (949) 542-3130, ir@caretrustreit.com

Source: CareTrust REIT, Inc.

FAQ

What is the dividend amount for CareTrust REIT in 2022?

The total dividend amount for CareTrust REIT in 2022 was $1.3650 per share.

When will CareTrust REIT shareholders receive Form 1099-DIV?

Shareholders will receive Form 1099-DIV from Broadridge Corporate Issuer Solutions detailing the dividends paid in 2022.

What should shareholders know about the January 2023 distribution?

The January 2023 distribution will be treated as a 2023 distribution for tax purposes and not included in the 2022 Form 1099.

How does the tax treatment of dividends vary for CareTrust REIT?

The tax treatment of dividends may vary at the state and local levels, which may differ from federal IRS treatment.