IStar : Form 8937

THE TAXPAYER MADE CASH DISTRIBUTIONS IN EXCESS OF ITS CURRENT AND ACCUMULATED EARNINGS AND

Form 8937				Report of Organizational Actions
						Affecting Basis of Securities			OMB No. 1545-0123
(December 2017)
Department of the Treasury						▶ See separate instructions.
Internal Revenue Service
Part I		Reporting		Issuer
1 Issuer's name					2 Issuer's employer identification number (EIN)
ISTAR INC.									95-6881527
3 Name of contact for additional information	4	Telephone No. of contact	5 Email address of contact
ADAM M. COHEN, SVP TAX				212-930-9404	[e-mail]
6 Number and street (or P.O. box if mail is not delivered to street address) of contact	7 City, town, or post office, state, and ZIP code of contact
1114 AVENUE OF THE AMERICAS, 39TH FLOOR		NEW YORK, NY 10036
8 Date of action				9 Classification and description
3/16/20,6/15/20, 9/15/20,12/15/20		NONTAXABLE DISTRIBUTION TO SHAREHOLDERS
10 CUSIP number	11	Serial number(s)	12 Ticker symbol	13	Account number(s)
SEE ATTACHMENT		N/A	SEE ATTACHMENT

Part II Organizational Action Attach additional statements if needed. See back of form for additional questions.

14 Describe the organizational action and, if applicable, the date of the action or the date against which shareholders' ownership is measured for

the action ▶

PROFITS. SEE PART II, LINE 15 FOR THE DATE AND AMOUNT OF THESE DISTRIBUTIONS PER SHARE.

15 Describe the quantitative effect of the organizational action on the basis of the security in the hands of a U.S. taxpayer as an adjustment per share or as a percentage of old basis ▶ THE DISTRIBUTIONS REDUCED THE BASIS OF THE SECURITIES IN THE HANDS OF THE U.S.

TAXPAYER MENTIONED ON THE ATTACHMENT.

16 Describe the calculation of the change in basis and the data that supports the calculation, such as the market values of securities and the valuation dates ▶ THE TAXPAYER CALCULATED EARNINGS AND PROFITS IN ACCORDANCE WITH IRC 312, AS MODIFIED BY

IRC 857(D) FOR A REAL ESTATE INVESTMENT TRUST (REIT), AND THE REGULATIONS THEREUNDER. AMOUNTS DISTRIBUED BY THE

REIT IN EXCESS OF ITS EARNINGS AND PROFITS REDUCE, BUT NOT BELOW ZERO, THE SHAREHOLDER'S TAX BASIS IN THEIR SHARES.

For Paperwork Reduction Act Notice, see the separate Instructions.

Cat. No. 37752P

Form 8937 (12-2017)

Form 8937 (12-2017)	Page 2
Part II	Organizational Action (continued)
17 List the applicable Internal Revenue Code section(s) and subsection(s) upon which the tax treatment is based ▶	IRC 301(C)(2)

18 Can any resulting loss be recognized? ▶ NO.

19 Provide any other information necessary to implement the adjustment, such as the reportable tax year ▶ THE SHAREHOLDERS SHOULD REDUCE THEIR ADJUSTED TAX BASIS IN THEIR SHARES ON THE DATE INDICATED AND FOR THE AMOUNT OF THE DISTRIBUTIONS DESCRIBED ABOVE.

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.

Sign

Here Signature ▶

Date ▶

January 18, 2021

Print your name ▶ ADAM M. COHEN

Title ▶

SVP, TAX

Paid

Print/Type preparer's name

Preparer's signature

Date

Check

if

PTIN

Preparer

self-employed

Use Only

Firm's name ▶

Firm's EIN ▶

Firm's address ▶

Phone no.

Send Form 8937 (including accompanying statements) to: Department of the Treasury, Internal Revenue Service, Ogden, UT 84201-0054

FORM 8937

iStar Inc.

Attachment

PART I
Common Shares	10. CUSIP NUMBER	12. TICKER SYMBOL
45031U-101	STAR
Series D Preferred Stock	45031U-408	STAR prD
Series G Preferred Stock	45031U-705	STAR prG
Series I Preferred Stock	45031U-804	STAR prI
PART II, LINE 15:
PER SHARE REDUCTION OF BASIS
Common Shares
DISTRIBUTION DATE	AMOUNTS
	3/16/2020	0.1000000
	6/15/2020	0.1100000
	9/15/2020	0.1100000
	12/15/2020	0.1100000
Series D Preferred Stock
DISTRIBUTION DATE	AMOUNTS
	3/16/2020	0.5000000
	6/15/2020	0.5000000
	9/15/2020	0.5000000
	12/15/2020	0.5000000
Series G Preferred Stock
DISTRIBUTION DATE	AMOUNTS
	3/16/2020	0.4781250
	6/15/2020	0.4781250
	9/15/2020	0.4781250
	12/15/2020	0.4781250
Series I Preferred Stock
DISTRIBUTION DATE	AMOUNTS
	3/16/2020	0.4687500
	6/15/2020	0.4687500
	9/15/2020	0.4687500
	12/15/2020	0.4687500