Two Harbors is required to report the portion of its 2023 dividends that are treated as excess inclusion income for federal income tax purposes. No portion of the company’s 2023 dividend distributions are expected to consist of excess inclusion income, which may be treated as unrelated business taxable income (UBTI) and subject to special tax reporting for certain tax-exempt investors.
The company declared dividends with respect to its common stock and Series A, Series B and Series C preferred shares on December 19, 2022. The record date for the company’s common stock distribution was January 5, 2023, and the record date for the company’s Series A, Series B and Series C preferred distributions was January 12, 2023. Accordingly, these common and preferred distributions were treated as 2023 distributions for tax purposes and reported on the 2023 Form 1099-DIV. In addition, the company declared dividends with respect to its common stock and Series A, Series B and Series C preferred shares on December 18, 2023, with a record date of January 12, 2024. Accordingly, these common and preferred distributions will be treated as 2024 distributions for tax purposes and reported on the 2024 Form 1099-DIV.
Distributions for Two Harbors Investment Corp.
The federal income tax classification of the Two Harbors’ 2023 common and preferred stock distributions as it is expected to be reported on Form 1099-DIV is set forth in the following tables.
| 2023 FORM 1099-DIV – Common Stock | Box 1a Total | Box 1b Total | Box 2a Total | Box 3 Total | Box 5 Total | |||||
| Distribution Type | Declaration Date | Record Date | Payable Date | 2023 Total Distribution Per Share | Adjustments | 2023 Ordinary Dividends | 2023 Qualified Dividends(1) | 2023 Capital Gain Distributions | 2023 Nondividend Distributions | Section 199A Dividends(2) |
| Cash | 12/19/2022 | 1/5/2023 | 1/27/2023 | $0.600000 | $0.000000 | $0.600000 | $0.158958 | $0.000000 | $0.000000 | $0.441042 |
| Cash | 3/23/2023 | 4/4/2023 | 4/28/2023 | $0.600000 | $0.000000 | $0.600000 | $0.158958 | $0.000000 | $0.000000 | $0.441042 |
| Cash | 6/21/2023 | 7/5/2023 | 7/28/2023 | $0.450000 | $0.000000 | $0.450000 | $0.119218 | $0.000000 | $0.000000 | $0.330782 |
| Cash | 9/19/2023 | 10/3/2023 | 10/27/2023 | $0.450000 | $0.000000 | $0.450000 | $0.119218 | $0.000000 | $0.000000 | $0.330782 |
| Totals | $2.100000 | $0.000000 | $2.100000 | $0.556352 | $0.000000 | $0.000000 | $1.543648 | |||
| (1) - Qualified Dividends shows the portion of the amount in Box 1a that may be eligible for capital gains tax rates | ||||||||||
| (2) - Section 199A Dividends shows the portion of the amount in Box 1a that may be eligible for the 20% qualified business income deduction under Section 199A | ||||||||||
| 2023 FORM 1099-DIV – Preferred Series A | Box 1a Total | Box 1b Total | Box 2a Total | Box 3 Total | Box 5 Total | |||||
| Distribution Type | Declaration Date | Record Date | Payable Date | 2023 Total Distribution Per Share | Adjustments | 2023 Ordinary Dividends | 2023 Qualified Dividends(1) | 2023 Capital Gain Distributions | 2023 Nondividend Distributions | Section 199A Dividends(2) |
| Cash | 12/19/2022 | 1/12/2023 | 1/27/2023 | $0.507810 | $0.000000 | $0.507810 | $0.134534 | $0.000000 | $0.000000 | $0.373276 |
| Cash | 3/23/2023 | 4/12/2023 | 4/27/2023 | $0.507810 | $0.000000 | $0.507810 | $0.134534 | $0.000000 | $0.000000 | $0.373276 |
| Cash | 6/21/2023 | 7/12/2023 | 7/27/2023 | $0.507810 | $0.000000 | $0.507810 | $0.134534 | $0.000000 | $0.000000 | $0.373276 |
| Cash | 9/19/2023 | 10/12/2023 | 10/27/2023 | $0.507810 | $0.000000 | $0.507810 | $0.134534 | $0.000000 | $0.000000 | $0.373276 |
| Totals | $2.031240 | $0.000000 | $2.031240 | $0.538136 | $0.000000 | $0.000000 | $1.493104 | |||
| (1) - Qualified Dividends shows the portion of the amount in Box 1a that may be eligible for capital gains tax rates | ||||||||||
| (2) - Section 199A Dividends shows the portion of the amount in Box 1a that may be eligible for the 20% qualified business income deduction under Section 199A | ||||||||||
| 2023 FORM 1099-DIV – Preferred Series B | Box 1a Total | Box 1b Total | Box 2a Total | Box 3 Total | Box 5 Total | |||||
| Distribution Type | Declaration Date | Record Date | Payable Date | 2023 Total Distribution Per Share | Adjustments | 2023 Ordinary Dividends | 2023 Qualified Dividends(1) | 2023 Capital Gain Distributions | 2023 Nondividend Distributions | Section 199A Dividends(2) |
| Cash | 12/19/2022 | 1/12/2023 | 1/27/2023 | $0.476560 | $0.000000 | $0.476560 | $0.126255 | $0.000000 | $0.000000 | $0.350305 |
| Cash | 3/23/2023 | 4/12/2023 | 4/27/2023 | $0.476560 | $0.000000 | $0.476560 | $0.126255 | $0.000000 | $0.000000 | $0.350305 |
| Cash | 6/21/2023 | 7/12/2023 | 7/27/2023 | $0.476560 | $0.000000 | $0.476560 | $0.126255 | $0.000000 | $0.000000 | $0.350305 |
| Cash | 9/19/2023 | 10/12/2023 | 10/27/2023 | $0.476560 | $0.000000 | $0.476560 | $0.126255 | $0.000000 | $0.000000 | $0.350305 |
| Totals | $1.906240 | $0.000000 | $1.906240 | $0.505020 | $0.000000 | $0.000000 | $1.401220 | |||
| (1) - Qualified Dividends shows the portion of the amount in Box 1a that may be eligible for capital gains tax rates | ||||||||||
| (2) - Section 199A Dividends shows the portion of the amount in Box 1a that may be eligible for the 20% qualified business income deduction under Section 199A | ||||||||||
| 2023 FORM 1099-DIV – Preferred Series C | Box 1a Total | Box 1b Total | Box 2a Total | Box 3 Total | Box 5 Total | |||||
| Distribution Type | Declaration Date | Record Date | Payable Date | 2023 Total Distribution Per Share | Adjustments | 2023 Ordinary Dividends | 2023 Qualified Dividends(1) | 2023 Capital Gain Distributions | 2023 Nondividend Distributions | Section 199A Dividends(2) |
| Cash | 12/19/2022 | 1/12/2023 | 1/27/2023 | $0.453130 | $0.000000 | $0.453130 | $0.120047 | $0.000000 | $0.000000 | $0.333083 |
| Cash | 3/23/2023 | 4/12/2023 | 4/27/2023 | $0.453130 | $0.000000 | $0.453130 | $0.120047 | $0.000000 | $0.000000 | $0.333083 |
| Cash | 6/21/2023 | 7/12/2023 | 7/27/2023 | $0.453130 | $0.000000 | $0.453130 | $0.120047 | $0.000000 | $0.000000 | $0.333083 |
| Cash | 9/19/2023 | 10/12/2023 | 10/27/2023 | $0.453130 | $0.000000 | $0.453130 | $0.120047 | $0.000000 | $0.000000 | $0.333083 |
| Totals | $1.812520 | $0.000000 | $1.812520 | $0.480188 | $0.000000 | $0.000000 | $1.332332 | |||
| (1) - Qualified Dividends shows the portion of the amount in Box 1a that may be eligible for capital gains tax rates | ||||||||||
| (2) - Section 199A Dividends shows the portion of the amount in Box 1a that may be eligible for the 20% qualified business income deduction under Section 199A | ||||||||||
Consult Your Tax Advisor
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Stockholders may have additional reporting obligations to the Internal Revenue Service and/or other tax authorities.
The U.S. federal income tax treatment of holding Two Harbors common and preferred stock to any particular stockholder will depend on the stockholder’s particular tax circ*mstances. You are urged to consult your tax advisor regarding the U.S. federal, state, local and foreign income and other tax consequences to you, in light of your particular investment or tax circ*mstances, of acquiring, holding and disposing of Two Harbors common and preferred stock.
Two Harbors does not provide tax, accounting or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used for the purpose of avoiding U.S., federal, state or local tax penalties. Please consult your advisor as to any tax, accounting or legal statements made herein.
Two Harbors Investment Corp.
Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, mortgage servicing rights and other financial assets. Two Harbors is headquartered in St. Louis Park, MN.
Additional Information
Stockholders of Two Harbors and other interested persons may find additional information regarding the company at www.twoharborsinvestment.com, at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Two Harbors Investment Corp., 1601 Utica Avenue South, Suite 900, St. Louis Park, MN, 55416, telephone (612) 453-4100.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240124741465/en/
The Two Harbors Investment Stock currently trades with a fall of -0,40% to 12,30EUR on theTradegate stock exchange.
As an expert and enthusiast, I have access to a wide range of information and can provide insights on various topics. However, I don't have real-time access to the internet or the ability to browse websites. Instead, I have been trained on a diverse range of data, including licensed data, human-created data, and publicly available data in multiple languages. I should note that while I strive to provide accurate and up-to-date information, my responses may not always reflect the most current news events or developments. News is constantly evolving, and new information can emerge that may change the context or understanding of a given topic. Now, let's dive into the information related to the concepts mentioned in the article you provided.
The article you shared discusses the tax reporting requirements for Two Harbors Investment Corp., a real estate investment trust (REIT). It mentions that Two Harbors is required to report the portion of its 2023 dividends that are treated as excess inclusion income for federal income tax purposes. It also states that no portion of the company's 2023 dividend distributions are expected to consist of excess inclusion income, which may be treated as unrelated business taxable income (UBTI) and subject to special tax reporting for certain tax-exempt investors.
The article further explains that Two Harbors declared dividends with respect to its common stock and Series A, Series B, and Series C preferred shares on December 19, 2022. The record date for the company's common stock distribution was January 5, 2023, and the record date for the preferred distributions was January 12, 2023. These distributions were treated as 2023 distributions for tax purposes and reported on the 2023 Form 1099-DIV.
Additionally, the article mentions that Two Harbors declared dividends with respect to its common stock and preferred shares on December 18, 2023, with a record date of January 12, 2024. These distributions will be treated as 2024 distributions for tax purposes and reported on the 2024 Form 1099-DIV.
The article provides detailed information about the distributions for Two Harbors Investment Corp., including the declaration date, record date, payable date, total distribution per share, adjustments, ordinary dividends, qualified dividends, capital gain distributions, nondividend distributions, and section 199A dividends for each type of stock (common stock, Series A preferred shares, Series B preferred shares, and Series C preferred shares).
It's important to note that the federal income tax classification of the Two Harbors' common and preferred stock distributions for 2023, as reported on Form 1099-DIV, is provided in the article. The article also mentions that stockholders may have additional reporting obligations to the Internal Revenue Service and/or other tax authorities, and it encourages stockholders to consult their tax advisors regarding the tax consequences of acquiring, holding, and disposing of Two Harbors common and preferred stock.
To get the most accurate and up-to-date information regarding Two Harbors Investment Corp. and its tax reporting requirements, I recommend visiting the company's official website at www.twoharborsinvestment.com. You can also find additional information about the company on the Securities and Exchange Commission's website at www.sec.gov.
Please note that the information provided here is based on the article you shared, and I have not independently verified its accuracy. It's always a good idea to consult with a tax advisor or financial professional for personalized advice regarding your specific tax circ*mstances.
