Company: BCAT
Filing Date: 2025-03-07
Form Type: N-CSR
Source: 0001193125-25-049576
Chunk: 50

Company: BlackRock Capital Allocation Term Trust
Filing Date: 2025-03-07
Form: N-CSR
Chunk 50
---
 PURCHASES AND SALES For the year ended December 31, 2024, purchases and sales of investments, including paydowns/payups, mortgage dollar rolls and excluding short-term securities, were as follows:

|            | U.S. Government Securities |                | Other Securities |                |
| Trust Name |                  Purchases |          Sales |        Purchases |          Sales |
| BCAT       |             $3,389,154,149 | $3,399,078,536 |   $1,506,712,184 | $1,713,846,511 |
| ECAT       |              2,535,981,605 |  2,535,610,967 |    1,180,905,184 |  1,260,320,700 |

For the year ended December 31, 2024, purchases and sales related to mortgage dollar rolls were as follows:

| Trust Name |      Purchases |          Sales |
| BCAT       | $2,035,221,402 | $2,034,337,064 |
| ECAT       |  1,460,542,667 |  1,460,125,059 |

8. INCOME TAX INFORMATION It is each Trust ’ s policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required. Each Trust files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on each Trust ’ s U.S. federal tax returns generally remains open for a period of three years after they are filed. The statutes of limitations on each Trust ’ s state and local tax returns may remain open for an additional year depending upon the jurisdiction. Management has analyzed tax laws and regulations and their application to the Trusts as of December 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Trusts ’ consolidated financial statements. Management’s analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect which may impact the Trusts ’ NAV.

86 2024 BlackRock Annual Report to Shareholders

Notes to