JBG SMITH Reports Taxable Composition of 2022 Distributions

Rhea-AI Summary

JBG SMITH (NYSE: JBGS) announced the tax treatment of its 2022 distributions on common shares, detailing allocations to be reported on Form 1099-DIV. The total taxable dividends for 2022 amount to $1.125 per share, with $1.000 classified as ordinary dividends and $0.125 as capital gain distributions. Key record dates for these distributions range from December 30, 2021, to December 29, 2022. Interestingly, 100% of the total capital gain distributions are from asset sales that generated Section 1231 gains or were held for over three years. The company recommends consulting tax advisors for individual tax implications.

BETHESDA, Md.--(BUSINESS WIRE)-- 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 2022 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								2022 Tax Treatment
Record Date	Payable Date	Total		Taxable in 2021		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			51
12/30/2021	01/14/2022	$	0.225	$	0.000	$	0.225	$	0.000	$	0.000	$		0.000	$		0.225	$	0.143	$	0.000		$	0.225		$	0.000
05/13/2022	05/27/2022	$	0.225	$	0.000	$	0.225	$	0.000	$	0.000	$		0.000	$		0.225	$	0.143	$	0.000		$	0.225		$	0.000
08/12/2022	08/26/2022	$	0.225	$	0.000	$	0.225	$	0.000	$	0.000	$		0.000	$		0.225	$	0.143	$	0.000		$	0.225		$	0.000
11/08/2022	11/22/2022	$	0.225	$	0.000	$	0.225	$	0.000	$	0.000	$		0.000	$		0.225	$	0.143	$	0.000		$	0.225		$	0.000
12/29/2022	01/12/2023	$	0.225	$	0.000	$	0.100	$	0.125	$	0.000	$		0.000	$		0.100	$	0.066	$	0.000		$	0.100		$	0.000
Totals:		$	1.125	$	0.000	$	1.000	$	0.125	$	0.000	$		0.000	$		1.000	$	0.638	$		0.000	$		1.000	$	0.000

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
12/30/2021	01/14/2022	$		0.225	$	0.145	$	0.080	$	0.080
05/13/2022	05/27/2022	$		0.225	$	0.145	$	0.080	$	0.080
08/12/2022	08/26/2022	$		0.225	$	0.145	$	0.080	$	0.080
11/08/2022	11/22/2022	$		0.225	$	0.145	$	0.080	$	0.080
12/29/2022	01/12/2023	$		0.100	$	0.065	$	0.035	$	0.035
Totals:		$	1.000		$	0.645	$	0.355	$	0.355

About JBG SMITH

JBG SMITH owns, operates, invests in, and develops a dynamic portfolio of mixed-use properties in the 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. Over half of JBG SMITH's holdings are in the National Landing submarket in Northern Virginia, where it serves as the developer for Amazon's new headquarters, and where Virginia Tech's $1 billion Innovation Campus is under construction. JBG SMITH's portfolio currently comprises 15.6 million square feet of high-growth office, multifamily and retail assets at share, 98% of which are metro-served. It also maintains a development pipeline encompassing 9.8 million square feet of mixed-use 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.

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).

View source version on businesswire.com: https://www.businesswire.com/news/home/20230117006011/en/

Barbat Rodgers

JBG SMITH

Senior Vice President, Investor Relations

(240) 333-3805

brodgers@jbgsmith.com

Source: JBG SMITH

FAQ

What is the tax treatment of JBG SMITH's 2022 distributions?

JBG SMITH's 2022 distributions total $1.125 per share, with $1.000 as ordinary dividends and $0.125 as capital gain distributions.

When were the record dates for the 2022 distributions of JBGS?

The record dates for JBGS's 2022 distributions ranged from December 30, 2021, to December 29, 2022.

What percentage of JBG SMITH's capital gain distributions are from Section 1231 assets?

100% of the capital gain distributions reported by JBG SMITH are from sales of assets that generated Section 1231 gains.

Should I consult a tax advisor regarding JBG SMITH's distributions?

Yes, JBG SMITH recommends consulting a tax advisor for understanding the tax implications of these distributions.