Company: MITN
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050624
Chunk: 267

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 267
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 “Non-investment related expenses” line item on the consolidated statement of operations (in thousands). Three Months EndedNine Months EndedSeptember 30, 2025September 30, 2024September 30, 2025September 30, 2024Excise tax expense (1)$34 $— $77 $— (1)During the nine months ended September 30, 2025, the Company recorded a reduction in excise tax expense of $0.1 million related to an excise tax refund.REIT Net Operating Loss and Net Capital Loss CarryforwardsIn connection with the WMC acquisition, the Company obtained federal net operating loss ("NOL") carryforwards of $321.6 million, of which $223.8 million do not have an expiration date and can be carried forward indefinitely. However, the Company’s use of the NOLs obtained in the WMC acquisition is limited under Section 382 of the Internal Revenue Code. As of September 30, 2025 and December 31, 2024, the remaining NOL carryforwards obtained in the WMC acquisition was $319.4 million.  As of September 30, 2025 and December 31, 2024, the Company had estimated net capital loss ("NCL") carryforwards of $279.4 million and $278.9 million, respectively. These NCL carryforwards (which exclude NCLs acquired from WMC) can be 

31

AG Mortgage Investment Trust Inc. and SubsidiariesNotes to Consolidated Financial Statements (Unaudited)September 30, 2025

utilized to offset future net gains from the sale of capital assets. NCL carryforwards of $225.7 million were generated during the year ended December 31, 2020 and any unutilized NCL carryforwards will expire on December 31, 2025.In connection with the WMC acquisition, the Company obtained NCL carryforwards. As of September 30, 2025 and December 31, 2024, these estimated NCL carryforwards were $151.6 million and $150.6 million, respectively. These NCL carryforwards will expire between 2026 and 2030. However, the Company’s use of these NCLs is limited under Sections 382 and 383 of the Internal Revenue Code. Taxable REIT Subsidi