Iron Mountain Incorporated Announces Tax Treatment of 2022 Distributions

Rhea-AI Summary

Iron Mountain (NYSE: IRM), a global leader in storage and data management, announced the tax treatment for 2022 distributions on its common stock. Shareholders will receive IRS Form 1099-DIV, detailing their distributions. A notable cash distribution was paid on January 5, 2023, totaling $0.6185 per share, with $0.120354 allocated as a 2022 distribution. This highlights the necessity for shareholders to consider tax implications for both 2022 and 2023. Iron Mountain emphasizes the importance of correctly reporting these distributions to comply with federal and state tax laws.

Positive

• Announced detailed tax treatment for 2022 distributions, aiding shareholders in tax reporting.
• Significant cash distribution of $0.6185 per share enhances shareholder value.

Negative

• Tax implications require shareholders to account for distributions in two different years (2022 and 2023).

BOSTON--(BUSINESS WIRE)-- Iron Mountain Incorporated (NYSE: IRM), a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services, today announced the tax treatment for all 2022 distributions on its common stock.

				Form 1099 Box 1a		Form 1099 Box 1b		Form 1099 Box 2a		Form 1099 Box 2b		Form 1099 Box 2f		Form 1099 Box 3		Form 1099 Box 5
Payment Date		Total Distribution		Ordinary Taxable Dividend		Qualified Taxable Dividend (1)		Total Capital Gain Distribution		Unrecaptured Sec. 1250 Gain (2)		Section 897 Capital Gain (2)		Return of Capital		Section 199A Dividend (1)
		($ per share)		($ per share)		($ per share)		($ per share)		($ per share)		($ per share)		($ per share)		($ per share)
Jan 6, 2022		$0.618500		$0.559110		$0.000000		$0.059390		$0.016923		$0.059226		$0.000000		$0.559110
Apr 6, 2022		$0.618500		$0.559110		$0.000000		$0.059390		$0.016923		$0.059226		$0.000000		$0.559110
Jul 6, 2022		$0.618500		$0.559110		$0.000000		$0.059390		$0.016923		$0.059226		$0.000000		$0.559110
Oct 4, 2022		$0.618500		$0.559110		$0.000000		$0.059390		$0.016923		$0.059226		$0.000000		$0.559110
Jan 5, 2023(3)		$0.120354		$0.108797		$0.000000		$0.011557		$0.003293		$0.011525		$0.000000		$0.108797
Totals		$2.594354		$2.345237		$0.000000		$0.249117		$0.070985		$0.248429		$0.000000		$2.345237

(1)		Qualified Taxable Dividend and Section 199A Dividend are subsets of, and included in, Ordinary Taxable Dividend.
(2)		Unrecaptured Section 1250 Gain and Section 897 Capital Gain are subsets of, and included in, Total Capital Gain Distribution.
(3)		Cash distributions paid on January 5, 2023 with a record date of December 15, 2022 were $0.618500 per share, of which $0.120354 per share has been treated as a 2022 distribution and $0.498146 per share will be treated as a 2023 distribution for federal income tax purposes. Pursuant to Internal Revenue Code Section 857(b)(9), a portion of these distributions made in January is required to be included in the taxpayer's 2022 taxable income. The remaining amount will be subject to taxation in 2023.

If you held common stock of Iron Mountain in your name at any time during 2022, an IRS Form 1099-DIV will be provided to you by Computershare, Iron Mountain's transfer agent. If you held shares in "street name" during 2022, the IRS form provided by your bank, brokerage firm or nominee may report only the gross distributions paid to you. Therefore, you may need the information included in this press release to properly complete your federal tax return.

Please note that federal tax laws affect taxpayers differently, and we cannot advise you on how distributions should be reported on your federal income tax return. Please also note that state and local taxation of REIT distributions vary and may not be the same as the federal treatment.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER™ to transform their businesses. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction, and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals. To learn more about Iron Mountain, please visit: www.IronMountain.com and follow @IronMountain on Twitter and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230130005499/en/

Investor Relations:

Gillian Tiltman

Senior Vice President and Head of Investor Relations

Gillian.Tiltman@ironmountain.com

(617) 286-4881

Sarah Barry

Senior Manager, Investor Relations

Sarah.Barry@ironmountain.com

(617) 237-6597

Source: Iron Mountain Incorporated

FAQ

What is the 2022 distribution tax treatment for Iron Mountain (IRM)?

Iron Mountain announced that shareholders will receive IRS Form 1099-DIV for their 2022 distributions, with details on how to report them for tax purposes.

What was the cash distribution paid by Iron Mountain on January 5, 2023?

The cash distribution paid was $0.6185 per share, with a portion treated as a 2022 distribution.

How should Iron Mountain (IRM) shareholders report their 2022 distributions on taxes?

Shareholders must report the distributions as indicated in the IRS Form 1099-DIV provided by the company.

What are the implications of Iron Mountain's distribution for 2023 tax reporting?

A portion of the January 5, 2023 cash distribution will be considered for 2023 tax reporting, necessitating careful accounting by shareholders.