GLENDALE, Calif.–(BUSINESS WIRE)–Public Storage (NYSE:PSA) announced today the tax treatment of the Company’s 2020 dividends. For the tax year ended December 31, 2020, 100% of the distributions for the PSA common stock and all the various series of preferred stock were classified as ordinary income. The Company did not declare a capital gain distribution, nor did it have any unrecaptured section 1250 gain for 2020.
The ordinary income dividends are not “qualified dividend income.”
For shareholders other than corporations the ordinary dividends are “qualified REIT dividends” under the qualified business income provisions enacted as part of the Tax Cuts and Jobs Act of 2017.
This release is based on the preliminary…