Gaming and Leisure Properties Inc. Announces 2020 Distribution Tax Treatment

Rhea-AI Summary

Gaming and Leisure Properties (GLPI) announced the income tax allocation for its 2020 distributions of $2.50 per share. The tax implications are laid out in detail, with distributions classified across various tax categories. Notably, the company’s tax return for 2020 has not yet been filed, and the allocation is based on the best available information as of the press release date. Shareholders are advised to consult tax advisors for specific tax treatment related to these distributions.

Positive

• Distributions for 2020 totaled $2.50 per share, indicating continued shareholder returns.
• Detailed tax allocation provides clarity for investors regarding taxable dividend classifications.

Negative

• The 2020 tax return has not yet been filed, creating uncertainty regarding tax implications for shareholders.

WYOMISSING, Pa., Jan. 22, 2021 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company”) announced the income tax allocation for federal income tax purposes of its aggregate distributions in 2020 of $2.50 per share of common stock (CUSIP: 36467J108).

Form 1099 Reference:			(Boxes 1a + 2a + 3)		Box 1a		Box 1b		Box 2a		Box 2b	Box 3		Box 5
Record Date	Payable Date		Total Distribution Per Share		Ordinary Taxable Dividends		Taxable Qualified Dividends (1)		Total Capital Gain Distribution		Unrecaptured 1250 Gain (2)	Nondividend Distributions (3)		Section 199A Dividends (4)
03/06/2020	03/20/2020		$0.700000		$0.686463		$0.000000		$0.000700		-	$0.012837		$0.686463
05/13/2020	06/26/2020		$0.600000		$0.588397		$0.000000		$0.000600		-	$0.011003		$0.588397
08/17/2020	09/25/2020		$0.600000		$0.588397		$0.000000		$0.000600		-	$0.011003		$0.588397
11/16/2020	12/24/2020		$0.600000		$0.588397		$0.000000		$0.000600		-	$0.011003		$0.588397
	Totals		$2.500000		$2.451654		$0.000000		$0.002500		-	$0.045846		$2.451654
	(1)		Amounts in 1b are included in 1a
	(2)		Amounts in 2b are included in 2a
	(3)		Amounts in 3 are also known as Return of Capital
	(4)		Amounts in 5 are included in 1a

Gaming and Leisure Properties’ tax return for the year ended December 31, 2020, has not been filed.  As a result, the income tax allocation for the distributions discussed above has been calculated using the best available information as of the date of this press release. 

Please note that federal tax laws affect taxpayers differently, and the information in this release is not intended as advice to shareholders on how distributions should be reported on their tax returns.  Also note that state and local taxation of real estate investment trust distributions varies and may not be the same as the taxation under the federal rules.  Shareholders are encouraged to consult with their own tax advisors as to their specific federal, state, and local income tax treatment of the Company’s distributions.

About Gaming and Leisure Properties
GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties. GLPI elected to be taxed as a real estate investment trust (“REIT”) for U.S. federal income tax purposes commencing with the 2014 taxable year and was the first gaming-focused REIT in North America.

Contact
Gaming and Leisure Properties, Inc.	Investor Relations
Matthew Demchyk, Chief Investment Officer	Joseph Jaffoni, Richard Land, James Leahy at JCIR
610/401-2900	212/835-8500
investorinquiries@glpropinc.com	glpi@jcir.com

 

FAQ

What is the 2020 distribution per share for GLPI?

The 2020 distribution per share for Gaming and Leisure Properties (GLPI) is $2.50.

What should GLPI shareholders know about tax implications for 2020 distributions?

Shareholders should consult their tax advisors, as the tax implications for distributions can vary based on individual circumstances and local laws.

When was the GLPI press release regarding the 2020 distribution published?

The press release regarding the 2020 distribution was published on January 22, 2021.

Why is the GLPI 2020 tax return significant for shareholders?

The 2020 tax return is significant because it has not been filed, which may affect how distributions are reported for tax purposes.