Company: INVH
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001193125-25-179878
Chunk: 151

Company: Invitation Homes Inc.
Filing Date: 2025-08-13
Form: 424B5
Chunk 151
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 the Code provide
partnerships with a choice of several methods of accounting for book-tax differences. The Operating Partnership will account for any book-tax differences using any method approved under Section 704(c) of the Code and the applicable Treasury
regulations as chosen by the General Partner under the partnership agreement.

Appreciated property was contributed to the Operating
Partnership in exchange for interests in the Operating Partnership in connection with certain merger transactions taking place on November 16, 2017 whereby (i) Starwood Waypoint Homes merged with and into IH Merger Sub, with IH Merger Sub
surviving, and (ii) Starwood Waypoint Homes Partnership, L.P. merged with and into the Operating Partnership, with the Operating Partnership surviving. Other persons also may contribute property with
book-tax differences to the Operating Partnership in exchange for interests in the Operating Partnership, and book-tax differences may arise with respect to existing
assets whenever we issue new interests in the Operating Partnership.

In connection with contributions of properties from third parties,
the General Partner may agree to use the “traditional method” under Section 704(c) of the Code. Under the traditional method, the carryover basis of contributed interests in the properties in the hands of the Operating Partnership
(i) will or could cause us to be allocated lower amounts of depreciation deductions for tax purposes than would be allocated to us if all contributed properties were to have a tax basis equal to their fair market value at the time of the
contribution and (ii) could cause us to be allocated taxable gain in the event of a sale of such contributed interests or properties in excess of the economic or book income allocated to us as a result of such sale, with a corresponding benefit
to the other partners in the Operating Partnership. An allocation described in (ii) above might cause us or the other partners to recognize taxable income in excess of cash proceeds in the event of a sale or other disposition of property, which
might adversely affect our ability to comply with the REIT distribution requirements. See “—Taxation of REITs in General—Requirements for Qualification as a REIT” and “—Annual Distribution Requirements Applicable to
REITs.”

Any property acquired by the Operating Partnership in a taxable transaction will initially have a tax basis equal to its
fair market value, and Section 704(c) of the Code will not apply.

Subsidiary REITs. We currently hold interests in
subsidiaries intended to qualify as REITs for U.S. federal