Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 309

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 309
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 or other integrated investment or risk reduction transaction; |

| · | persons subject to the alternative minimum tax provisions of the Code; |

| · | pass-through entities (such as entities treated as partnerships for U.S. federal income tax purposes); |

| · | persons subject to special tax accounting rules as a result of their use of applicable financial statements (within the meaning of Section 451(b)(3) of the Code); and |

| · | persons holding our Series A Redeemable Preferred Stock through a partnership or similar pass-through entity. |

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This summary assumes that
stockholders hold our Series A Redeemable Preferred Stock as a capital asset for U.S. federal income tax purposes, which generally
means property held for investment.

If a partnership, including
any entity that is 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 the 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 that will hold our Series A Redeemable Preferred Stock, you should consult
your tax advisor regarding the U.S. federal income tax consequences of acquiring, holding and disposing of our Series A Redeemable
Preferred Stock by the partnership.

The statements in this section
are not intended to be, and should not be construed as, tax advice. The statements in this section are based on the Code, final, temporary
and proposed Treasury Regulations, the legislative history of the Code, current administrative interpretations and practices of the IRS,
and court decisions. The reference to IRS interpretations and practices includes the IRS practices and policies endorsed in private letter
rulings, which are not binding on the IRS except with respect to the taxpayer that receives the ruling. In each case, these sources are
relied upon as they exist on the date of this discussion. Future legislation, Treasury Regulations, administrative interpretations and
court decisions could change the current law or adversely affect existing interpretations of current law on which the information in this
section is based. Any such change could apply retroactively. We have not received any rulings from the IRS concerning our qualification
as a REIT. Accordingly, even if there is no change in the applicable law, no assurance can be provided that the statements made in the
following discussion, which do not bind the IRS or the courts, will not be challenged by the IRS or will be sustained by