Company: BHM
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001104659-25-107769
Chunk: 21

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-06
Form: 424B3
Chunk 21
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 Company recorded current income tax expense of approximately $0.3 million and
$1.1 million, respectively, and state income tax expense of $0.1 million and $0.3 million, respectively, related to income earned in certain
taxable REIT subsidiaries. The Company records these amounts in income tax expense on the Company’s consolidated statements of operations
and comprehensive income. No income tax expense was recorded in 2024.

Interim Financial Information

The
accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally
accepted in the Unites States of America (“GAAP”) for interim financial reporting, and the instructions to Form 10-Q and Article
10-1 of Regulation S-X. Accordingly, the financial statements for interim reporting do not include all the information and notes or disclosures
required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring items)
considered necessary for a fair presentation have been included. Operating results for interim periods should not be considered indicative
of the operating results for a full year.

The
balance sheet at December 31, 2024 has been derived from the audited financial statements at that date but does not include all the information
and disclosures required by GAAP for complete financial statements. It is suggested that these condensed financial statements be read
in conjunction with the financial statements and notes thereto included in the Company’s audited consolidated financial statements
for the year ended December 31, 2024 contained in the Annual Report on Form 10-K as filed with the SEC on March 20, 2025.

Use of Estimates

The
preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

New Accounting Pronouncements

In
November 2024, the FASB issued Accounting Standards Update No. 2024-03 “Disaggregation of Income Statement Expenses (Subtopic 220-40)”
(“ASU 2024-03”). The amendments in ASU 2024-03 require additional disclosure of specified information about certain costs
and expenses within the notes to the financial statements. The amendments in ASU 2024-03 are effective for the Company for annual reporting