Prior to January 1, 2019, EFC was taxed as a partnership and was required to provide shareholders with a Schedule K-1, which separately reports the shareholders’ items of income, gain, loss, deduction and credits. Effective January 1, 2019, EFC elected to be taxed as a corporation for both U.S. federal and state income tax purposes, and intends to elect to be treated as a real estate investment trust (“REIT”) for the year ending December 31, 2019. Shareholders will receive a final Schedule K-1 for the period from January 1, 2018 through December 31, 2018. The final Schedule K-1 should be reported on shareholders’ 2018 tax return.
2018 K-1s will be available through Deloitte’s Partner DataLink.