BXP Announces 2023 Tax Treatment of Its Distributions
BOSTON, January 17, 2024--(BUSINESS WIRE)--Boston Properties, Inc. (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today the 2023 tax treatment of distributions on shares of its common stock, as described below. Shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment to them of these distributions.
Common Shares (CUSIP #101121101) | |||||||||
Record | Payment Date | Total Distribution per Share | Total Distribution Allocable to 2023 | 2023 Taxable Ordinary Dividends | 2023 Qualified Dividends (1) | 2023 Short-term Capital Gain (1) | 2023 Total Capital Gain Distribution (2) | 2023 Unrecaptured Section 1250 Gain (3) | 2023 Section 199A Dividends (1) |
12/30/2022 | 1/30/2023 | $0.980000 | $0.954126 | $0.696352 | $0.002944 | $0.000526 | $0.257774 | $0.025298 | $0.692882 |
3/31/2023 | 4/28/2023 | $0.980000 | $0.980000 | $0.715235 | $0.003024 | $0.000541 | $0.264765 | $0.025984 | $0.711670 |
6/30/2023 | 7/31/2023 | $0.980000 | $0.980000 | $0.715235 | $0.003024 | $0.000541 | $0.264765 | $0.025984 | $0.711670 |
9/29/2023 | 10/31/2023 | $0.980000 | $0.980000 | $0.715235 | $0.003024 | $0.000541 | $0.264765 | $0.025984 | $0.711670 |
12/29/2023 | 1/30/2024 | $0.980000 | $0.269514 | $0.196700 | $0.000832 | $0.000109 | $0.072814 | $0.007146 | $0.195759 |
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$4.900000 | $4.163640 | $3.038757 | $0.012848 | $0.002258 | $1.124883 | $0.110396 | $3.023651 | ||
100% | 72.9832% | 27.0168% | |||||||
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(1) These amounts are a subset of, and included in, the 2023 Taxable Ordinary Dividend amounts. | |||||||||
(2) These amounts are also reported as Section 897 gains attributable to dispositions of U.S. Real Property Interests. In addition, for purposes of Section 1061 of the Internal Revenue Code, 100% of the distributions reported as 2023 Total Capital Gain Distributions 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." | |||||||||
(3) Unrecaptured Section 1250 Gain is a subset of, and included in, the 2023 Total Capital Gain Distribution amount. | |||||||||
The common stock distribution with a record date of December 30, 2022 was a split-year distribution with $0.954126 allocable to 2023 for federal income tax purposes. The common stock distribution with a record date of December 29, 2023 will be a split-year distribution with $0.269514 allocable to 2023 for federal income tax purposes and $0.710486 allocable to 2024 for federal income tax purposes.
ABOUT BXP
BXP (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets -Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of December 31, 2023, including properties owned by unconsolidated joint ventures, BXP’s portfolio totaled 53.3 million square feet and 188 properties, including 10 properties under construction/redevelopment. For more information about BXP, please visit our website or follow us on LinkedIn or Instagram.
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Contacts
AT BXP
Mike LaBelle
Executive Vice President
Chief Financial Officer and Treasurer
mlabelle@bxp.com
Michael Walsh
Senior Vice President
Chief Accounting Officer
mwalsh@bxp.com
