Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 371

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 371
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 the non-U.S. stockholder
generally will be subject to U.S. federal income tax on the distribution at graduated rates, in the same manner as U.S. stockholders
are taxed with respect to such distribution, and a non-U.S. stockholder that is a corporation also may be subject to a 30% branch profits
tax with respect to that distribution. The branch profits tax may be reduced by an applicable tax treaty. We plan to withhold U.S. federal
income tax at the rate of 30% on the gross amount of any such distribution paid to a non-U.S. stockholder unless either:

| · | a lower treaty rate applies                                                                                                  
 and the non-U.S. stockholder provides us with an IRS Form W-8BEN or W-8BEN-E, as applicable, evidencing eligibility for that 
 reduced rate;                                                                                                                |

| · | the non-U.S. stockholder                                                                               
 provides us with an IRS Form W-8ECI claiming that the distribution is effectively connected income; or |

| · | the distribution is treated                                          
 as attributable to a sale of a USRPI under FIRPTA (discussed below). |

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A non-U.S. stockholder will
not incur tax on a distribution in excess of our current and accumulated earnings and profits if the excess portion of such distribution
does not exceed the adjusted basis of its Series B Redeemable Preferred Stock. Instead, the excess portion of such distribution
will reduce the non-U.S. stockholder’s adjusted basis in such stock. A non-U.S. stockholder will be subject to tax on a distribution
that exceeds both our current and accumulated earnings and profits and the adjusted basis of its Series B Redeemable Preferred Stock,
if the non-U.S. stockholder otherwise would be subject to tax on gain from the sale or disposition of its Series B Redeemable Preferred
Stock, as described below. We must withhold 15% of any distribution that exceeds our current and accumulated earnings and profits. Consequently,
although we intend to withhold at a rate of 30% on the entire amount of any distribution, to the extent that we do not do so, we will
withhold at a rate of 15% on any portion of a distribution not subject to withholding at a rate of 30%. Because we generally cannot determine
at the time we make a distribution whether the distribution will exceed our current and accumulated earnings and profits, we normally