The
share
of
securities
lending
income
earned
by
each
Fund
is
shown
as
securities
lending
income
–
affiliated
–
net
in
its Statements
of
Operations.
For
the six
months
ended January
31,
2023,
the
Funds
paid
BTC
the
following
amounts
for
securities
lending
agent
services:
Officers
and
Trustees:
Certain
officers
and/or
trustees
of
the
Trust
are
officers
and/or trustees
of
BlackRock
or
its
affiliates.
Other
Transactions:
Cross
trading
is
the
buying
or
selling
of
portfolio
securities
between
funds
to
which
BFA
(or
an
affiliate)
serves
as
investment
adviser.
At
its
regularly
scheduled
quarterly
meetings,
the
Board
reviews
such
transactions
as
of
the
most
recent
calendar
quarter
for
compliance
with
the
requirements
and
restrictions
set
forth
by
Rule
17a-7.
For
the
six
months
ended
January
31,
2023,
transactions
executed
by
the
Funds
pursuant
to
Rule
17a-7
under
the
1940
Act
were
as
follows:
Each
Fund
may
invest
its
positive
cash
balances
in
certain
money
market
funds
managed
by
BFA
or
an
affiliate.
The
income
earned
on
these
temporary
cash
investments
is
shown
as
dividends
–
affiliated
in
the
Statements
of
Operations.
7.
Purchases
and
Sales
For
the six
months
ended
January
31,
2023,
purchases
and
sales
of
investments,
excluding
short-term
securities
and
in-kind
transactions,
were
as
follows:
For
the six
months
ended
January
31,
2023,
in-kind
transactions
were
as
follows:
8.
Income
Tax
Information
Each
Fund
is
treated
as
an
entity
separate
from
the
Trust’s
other
funds
for
federal
income
tax
purposes.
It
is
each
Fund’s
policy
to
comply
with
the
requirements
of
the
Internal
Revenue
Code
of
1986,
as
amended,
applicable
to
regulated
investment
companies,
and
to
distribute
substantially
all
of
its
taxable
income
to
its
shareholders.
Therefore,
no
U.S.
federal
income
tax
provision
is
required.
Management
has
analyzed
tax
laws
and
regulations
and
their
application
to
the
Funds
as
of
January
31,
2023,
inclusive
of
the
open
tax
return
years,
and
does
not
believe
that
there
are
any
uncertain
tax
positions
that
require
recognition
of
a
tax
liability
in
the
Funds’
financial
statements.
As
of July
31,
2022,
the
Funds
had
non-expiring
capital
loss
carryforwards
available
to
offset
future
realized
capital
gains
as
follows:
iShares
ETF
Amounts
Core
Aggressive
Allocation
.............................................................................................
$
5,122
Core
Conservative
Allocation
............................................................................................
6
Core
Growth
Allocation
................................................................................................
8,654
Core
Moderate
Allocation
..............................................................................................
6,812
Morningstar
Multi-Asset
Income
..........................................................................................
60,732
iShares
ETF
Purchases
Sales
Net
Realized
Gain
(Loss)
Core
Aggressive
Allocation
.........................................................
$
—
$
2,737,540
$
(573,534
)
Core
Conservative
Allocation
........................................................
1,704,741
—
—
Core
Growth
Allocation
............................................................
—
927,898
(217,460
)
Core
Moderate
Allocation
..........................................................
1,960,835
—
—
Morningstar
Multi-Asset
Income
......................................................
1,455,775
134,087
(7,564
)
iShares
ETF
Purchases
Sales
Core
Aggressive
Allocation
...........................................................................
$
39,649,913
$
38,617,972
Core
Conservative
Allocation
..........................................................................
18,776,485
17,297,965
Core
Growth
Allocation
..............................................................................
59,672,967
57,986,899
Core
Moderate
Allocation
............................................................................
36,985,947
35,445,523
Morningstar
Multi-Asset
Income
........................................................................
63,028,063
63,041,238
iShares
ETF
In-kind
Purchases
In-kind
Sales
Core
Aggressive
Allocation
...........................................................................
$
453,836,360
$
465,267,631
Core
Conservative
Allocation
..........................................................................
624,532,399
655,922,630
Core
Growth
Allocation
..............................................................................
1,129,908,415
1,057,825,225
Core
Moderate
Allocation
............................................................................
343,879,226
479,339,473
Morningstar
Multi-Asset
Income
........................................................................
17,510,166
37,268,102
iShares
ETF
Amounts
Core
Aggressive
Allocation
.............................................................................................
$
8,713,879
Core
Conservative
Allocation
............................................................................................
3,661,090
Core
Growth
Allocation
................................................................................................
9,839,456
Core
Moderate
Allocation
..............................................................................................
6,755,641
Morningstar
Multi-Asset
Income
..........................................................................................
42,282,917