Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 335

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 335
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 and is for general information only. We urge you to consult your tax advisors to determine the impact of U.S. federal, state and local income tax laws on the purchase, ownership and disposition of our Series A Redeemable Preferred Stock.

As used herein, the term “U.S.
stockholder” means a beneficial owner of our Series A Redeemable Preferred Stock that for U.S. federal income tax purposes
is:

| · | a citizen or resident of the United States; |

| · | a corporation (including an entity treated as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States, any of its states or the District of Columbia; |

| · | an estate whose income is subject to U.S. federal income taxation regardless of its source; or |

| · | any trust if (1) a court is able to exercise primary supervision over the administration of such trust and one or more United States persons (as defined in Section 7701(a)(30) of the Code) have the authority to control all substantial decisions of the trust or (2) it has a valid election in place to be treated as a U.S. person. |

If a partnership, entity or
arrangement treated as a partnership for U.S. federal income tax purposes holds our Series A Redeemable Preferred Stock, the U.S.
federal income tax treatment of a partner in the partnership will generally depend on the status of the partner and the activities of
the partnership. If you are a partner in a partnership holding our Series A Redeemable Preferred Stock, you should consult your tax
advisor regarding the consequences of the ownership and disposition of our Series A Redeemable Preferred Stock by the partnership.

For any taxable year for which
we qualify for taxation as a REIT, amounts distributed to, and gains realized by, taxable U.S. stockholders with respect to our Series A
Redeemable Preferred Stock generally will be taxed as described below.

Distributions on Our Series A Redeemable Preferred Stock. As long as we maintain our qualification as a REIT, a taxable U.S. stockholder
must generally take into account, as ordinary income, distributions made out of our current or accumulated earnings and profits that we
do not designate as capital gain dividends or retained long-term capital gain. For purposes of determining whether a distribution is made
out of our current or accumulated earnings and profits, our earnings and profits will be allocated first to our preferred stock dividends,