BlackRock Capital Allocation Trust : 2022 Important Tax Information for Closed-end Funds

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Important Tax Information for Closed-End Funds

This booklet is a summary of useful tax information for certain BlackRock closed-endfunds. It will assist you, as an investor, in the preparation of your

2022 Federal and state income tax returns.

We recommend consulting with your tax preparer for assistance with how this information will impact your specific tax situation.

BlackRock does not provide tax advice. Investors should be aware that tax treatment is subject to change, and investors are strongly urged to consult their tax advisor regarding their personal tax situation.

For more information:http://www.blackrock.com/investing/resources/tax-informationor contact BlackRock at [phone].

BLKTAX2022

	BLACKROCK
MUNICIPAL FUNDS
BlackRock California Municipal Income Trust (BFZ)	BlackRock MuniVest Fund, Inc. (MVF)
BlackRock Investment Quality Municipal Trust, Inc. (BKN)	BlackRock MuniVest Fund II, Inc. (MVT)
BlackRock Long-Term Municipal Advantage Trust (BTA)	BlackRock MuniYield California Fund, Inc. (MYC) 1
BlackRock Municipal 2030 Target Term Trust (BTT)	BlackRock MuniYield California Quality Fund, Inc. (MCA) 1
BlackRock MuniAssets Fund, Inc. (MUA)	BlackRock MuniYield Fund, Inc. (MYD)
BlackRock Municipal Income Fund, Inc. (MUI)	BlackRock MuniYield Michigan Quality Fund, Inc. (MIY)
BlackRock Municipal Income Quality Trust (BYM)	BlackRock MuniYield New Jersey Fund, Inc. (MYJ) 1
BlackRock Municipal Income Trust (BFK)	BlackRock MuniYield New York Quality Fund, Inc. (MYN)
BlackRock Municipal Income Trust II (BLE)	BlackRock MuniYield Pennsylvania Quality Fund (MPA)
BlackRock MuniHoldings California Quality Fund, Inc. (MUC)	BlackRock MuniYield Quality Fund, Inc. (MQY)
BlackRock MuniHoldings Fund, Inc. (MHD)	BlackRock MuniYield Quality Fund II, Inc. (MQT)
BlackRock MuniHoldings Investment Quality Fund (MFL) 1	BlackRock MuniYield Quality Fund III, Inc. (MYI)
BlackRock MuniHoldings New Jersey Quality Fund, Inc. (MUJ)	BlackRock New York Municipal Income Trust (BNY)
BlackRock MuniHoldings New York Quality Fund, Inc. (MHN)	BlackRock Virginia Municipal Bond Trust (BHV)
BlackRock MuniHoldings Quality Fund II, Inc. (MUE)
TAXABLE FIXED INCOME FUNDS	EQUITY FUNDS
BlackRock Core Bond Trust (BHK)	BlackRock Energy and Resources Trust (BGR)
BlackRock Corporate High Yield Fund, Inc. (HYT)	BlackRock Enhanced Capital and Income Fund, Inc. (CII)
BlackRock Credit Allocation Income Trust (BTZ)	BlackRock Enhanced Equity Dividend Trust (BDJ)
BlackRock Credit Strategies Fund (CREDX, CRDAX,CRDUX, CRDWX) BlackRock Enhanced Global Dividend Trust (BOE)
BlackRock Debt Strategies Fund, Inc. (DSU)	BlackRock Enhanced International Dividend Trust (BGY)
BlackRock Enhanced Government Fund, Inc. (EGF)	BlackRock Health Sciences Trust (BME)
BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)	BlackRock Health Sciences Trust II (BMEZ)
BlackRock Floating Rate Income Trust (BGT)	BlackRock Innovation and Growth Trust (BIGZ)
BlackRock Income Trust, Inc. (BKT)	BlackRock Resources & Commodities Strategy Trust (BCX)
BlackRock Limited Duration Income Trust (BLW)	BlackRock Science and Technology Trust (BST)
BlackRock Multi-Sector Income Trust (BIT)	BlackRock Science and Technology Trust II (BSTZ)
BlackRock Multi-Sector Opportunities Trust (XMSOX)	BlackRock Utilities, Infrastructure & Power Opportunities Trust (BUI)
BlackRock Multi-Sector Opportunities Trust II (XMSAX)
BlackRock Taxable Municipal Bond Trust (BBN)

BALANCED FUNDS

BlackRock Capital Allocation Trust (BCAT)

BlackRock ESG Capital Allocation Trust (ECAT)

• The Fund was merged away effective April 11, 2022.

Single State Municipal Funds

The information below summarizes the percentage of exempt interest income received by various BlackRock closed-endfunds (each, a "Fund") on a state-by-state basis. These percentages may be useful in completing your state tax return. In addition, the percentage of income that represents a tax preference item (relating to tax-exempt interest income from certain private activity bonds) for Federal Alternative Minimum Tax ("AMT") purposes is included for each Fund. Your portion of the exempt-interest income has been included on your Form 1099-DIV.

Shareholders are urged to consult their tax advisor concerning the application of this information.

				U.S.
			Primary	Territories &
Fund Name	Ticker	Primary State	State	Possessions	Other States	AMT
BlackRock California Municipal Income Trust 1	BFZ	California	94.84	5.16	-	12.38
BlackRock MuniHoldings California Quality Fund, Inc. 1	MUC	California	95.74	4.26	-	13.57
BlackRock MuniHoldings New Jersey Quality Fund, Inc.	MUJ	New Jersey	95.91	4.09	-	18.35
BlackRock MuniHoldings New York Quality Fund, Inc.	MHN	New York	96.15	3.85	-	9.15
BlackRock MuniYield California Fund, Inc. 1	MYC	California	94.88	5.12	-	14.15
BlackRock MuniYield California Quality Fund, Inc. 1	MCA	California	96.31	3.69	-	14.46
BlackRock MuniYield Michigan Quality Fund, Inc.	MIY	Michigan	96.46	3.54	-	12.71
BlackRock MuniYield New Jersey Fund, Inc.	MYJ	New Jersey	94.73	5.27	-	21.22
BlackRock MuniYield New York Quality Fund, Inc.	MYN	New York	96.05	3.95	-	7.75
BlackRock MuniYield Pennsylvania Quality Fund	MPA	Pennsylvania	95.90	4.10	-	7.64
BlackRock New York Municipal Income Trust	BNY	New York	95.35	4.65	-	8.69
BlackRock Virginia Municipal Bond Trust	BHV	Virginia	88.11	8.81	3.08	7.16

1At least 50% of the Fund's assets at the end of each fiscal quarter consisted of California obligations.

Multi-State Municipal Funds

The information below summarizes the percentage of exempt interest income received by various BlackRock closed-endfunds (each, a "Fund") on a state-by-state basis. These percentages may be useful in completing your state tax return. In addition, the

percentage of income that represents a tax preference item (relating to tax-exempt interest income from certain private activity bonds) for Federal Alternative Minimum Tax ("AMT") purposes is included for each Fund. Your portion of the exempt-interest

has been included on your Form 1099-DIV. Some states require a minimum percentage of home state bonds to permit the state tax exemption.

Shareholders are urged to consult their tax advisor concerning the application of this information.

	BlackRock Investment BlackRock Long-Term	BlackRock	BlackRock Municipal	BlackRock Municipal	BlackRock Municipal
State	Quality Municipal	Municipal Advantage	MuniAssets Fund, Inc.	Income Fund, Inc.	Income Quality Trust
	Trust, Inc. (BKN)	Trust (BTA)	(MUA)	(MUI)	(BYM)	Income Trust (BFK)
Alabama	0.25	2.19	1.65	1.72	0.28	2.29
Alaska	0.00	0.06	0.16	0.00	0.00	0.10
Arizona	2.98	3.19	3.51	2.37	0.88	3.12
Arkansas	1.66	1.95	1.89	0.35	0.00	0.63
California1	10.55	6.50	7.63	9.95	10.10	5.24
Colorado	0.71	2.86	2.94	1.51	0.99	1.77
Connecticut	2.78	0.66	1.18	1.32	0.98	0.14
Delaware	0.00	0.23	0.23	0.33	0.56	0.30
Dist of Columbia	0.68	0.81	0.75	0.73	3.00	6.26
Florida	7.80	7.17	10.62	4.76	4.27	1.55
Georgia	1.03	2.61	0.94	2.76	1.12	2.56
Guam	0.00	0.00	0.03	0.04	0.00	0.00
Hawaii	0.84	0.00	0.00	0.65	0.00	0.00
Idaho	0.75	0.60	0.14	0.99	0.18	0.17
Illinois	4.66	5.20	6.59	11.18	11.72	8.04
Indiana	0.00	2.69	2.35	0.18	0.94	1.97
Iowa	0.47	1.00	0.21	0.53	0.71	0.45
Kansas	0.31	0.00	0.21	0.20	0.69	0.02
Kentucky	5.34	0.52	0.86	0.42	0.00	0.94
Louisiana	0.70	0.93	2.09	0.32	0.00	0.44
Maine	0.02	0.28	0.29	0.10	0.00	0.00
Maryland	0.77	1.47	1.64	0.85	1.30	0.35
Massachusetts	2.07	1.73	0.35	3.00	3.31	1.35
Michigan	2.67	1.36	0.67	2.48	2.49	1.63
Minnesota1	2.01	0.95	0.40	0.64	0.25	1.16
Mississippi	0.00	0.00	0.00	0.82	0.00	0.00
Missouri	1.53	0.82	0.23	0.36	0.00	1.26
Montana	0.00	0.00	0.00	0.02	0.00	0.00
Nebraska	0.46	0.60	0.11	0.27	0.69	0.60
Nevada	0.80	0.00	0.18	0.84	0.89	0.00
New Hampshire	0.21	0.64	0.60	0.12	0.08	0.63
New Jersey	5.17	6.87	5.38	12.01	5.92	10.56
New Mexico	0.13	0.00	0.57	0.39	0.08	0.20
New York	9.31	11.10	12.23	14.04	9.80	13.24
North Carolina	0.19	0.41	0.00	0.04	0.22	1.05
North Dakota	0.00	0.00	0.00	0.11	0.06	0.27
Ohio	2.42	2.78	2.50	2.64	2.83	2.49
Oklahoma	0.56	3.07	2.21	0.45	0.00	1.20
Oregon	0.87	0.22	0.60	0.30	0.38	0.62
Pennsylvania	6.25	2.81	1.92	3.68	4.47	2.62
Puerto Rico	4.13	4.43	7.45	3.40	3.72	4.57
Rhode Island	2.27	2.23	1.57	0.44	1.12	2.11
South Carolina	1.29	2.02	0.09	2.62	3.56	3.91
South Dakota	0.00	0.00	0.00	0.00	0.33	0.00
Tennessee	2.64	0.95	0.51	0.64	0.29	0.89
Texas	8.55	8.02	6.23	5.69	13.12	8.39
US Virgin Islands	0.00	0.00	0.00	0.07	0.00	0.00
Utah	0.36	0.09	0.65	0.70	0.36	0.61
Vermont	0.08	0.16	0.62	0.38	0.00	0.00
Virginia	1.46	2.20	1.91	0.04	3.38	2.28
Washington	0.97	0.52	0.85	1.21	1.56	1.35
West Virginia	0.17	0.52	0.00	0.00	0.88	0.10
Wisconsin	1.13	4.58	6.26	1.34	2.49	0.42
Wyoming	0.00	0.00	0.00	0.00	0.00	0.15
AMT	13.25%	16.32%	13.18%	19.39%	0.00%	10.11%

• Certain states require that Funds meet investment thresholds before a shareholder can exempt distributions attributable to his or her home state. In 2022, none of the Funds listed above satisfied the thresholds imposed by California and Minnesota.

Multi-State Municipal Funds (continued)

The information below summarizes the percentage of exempt interest income received by various BlackRock closed-endfunds (each, a "Fund") on a state-by-state basis. These percentages may be useful in completing your state tax return. In addition, the

percentage of income that represents a tax preference item (relating to tax-exempt interest income from certain private activity bonds) for Federal Alternative Minimum Tax ("AMT") purposes is included for each Fund. Your portion of the exempt-interest income has been included on your Form 1099-DIV. Some states require a minimum percentage of home state bonds to permit the state tax exemption.

Shareholders are urged to consult their tax advisor concerning the application of this information.

		BlackRock Municipal	BlackRock	BlackRock	BlackRock
	BlackRock Municipal	MuniHoldings	BlackRock MuniVest
State	2030 Target Term	MuniHoldings Fund,	MuniHoldings Quality
	Income Trust II (BLE)	Trust (BTT)	Inc. (MHD)	Investment Quality	Fund II, Inc. (MUE)	Fund, Inc. (MVF)
		Fund (MFL)
Alabama	2.30	2.83	1.00	3.84	0.48	0.71
Alaska	0.00	0.00	0.10	0.00	0.00	0.14
Arizona	1.85	1.54	2.04	2.46	1.69	4.41
Arkansas	0.37	0.00	0.79	0.38	0.36	0.52
California1	8.71	6.03	8.18	10.45	12.26	4.29
Colorado	2.06	5.05	2.71	2.10	2.83	2.25
Connecticut	0.43	0.57	0.96	0.03	2.61	0.50
Delaware	0.12	0.40	0.46	0.00	0.37	0.38
Dist of Columbia	3.42	0.38	2.53	1.51	0.03	0.02
Florida	4.37	7.93	5.08	3.29	11.83	6.57
Georgia	3.02	2.08	2.30	0.00	1.10	1.13
Guam	0.00	0.09	0.00	0.00	0.00	0.00
Hawaii	0.23	0.00	0.26	1.50	1.24	0.00
Idaho	1.03	0.01	0.50	1.40	0.00	0.00
Illinois	7.54	11.05	7.33	11.07	9.33	8.23
Indiana	1.64	2.06	1.07	0.27	0.31	1.03
Iowa	0.62	2.30	0.48	0.00	0.86	1.26
Kansas	0.06	0.14	0.06	0.00	0.00	0.53
Kentucky	1.41	0.53	0.90	0.00	0.07	0.00
Louisiana	0.53	1.39	0.99	0.00	2.07	2.32
Maine	0.00	0.08	0.00	0.00	0.00	0.46
Maryland	0.19	1.21	1.63	0.00	4.02	2.81
Massachusetts	1.69	1.20	2.12	6.54	0.67	1.19
Michigan	1.58	1.44	3.06	2.38	2.19	2.45
Minnesota1	1.54	0.26	1.27	0.00	0.24	0.60
Mississippi	0.18	0.88	0.73	2.11	1.72	1.81
Missouri	0.90	0.52	1.10	0.06	0.00	0.00
Montana	0.21	0.26	0.01	0.00	0.13	0.13
Nebraska	0.37	0.37	0.29	0.00	0.25	0.85
Nevada	0.00	0.50	0.82	0.89	2.12	1.31
New Hampshire	0.46	0.34	0.44	0.00	0.25	0.02
New Jersey	8.99	10.82	8.22	9.80	7.07	9.41
New Mexico	0.01	0.64	0.24	0.04	0.04	0.00
New York	13.01	2.70	9.11	14.73	2.51	6.93
North Carolina	0.64	0.44	0.76	0.00	0.61	0.71
North Dakota	0.12	0.00	0.11	0.00	0.07	0.07
Ohio	2.13	0.79	2.83	3.17	2.48	3.69
Oklahoma	0.90	0.52	0.55	0.00	0.00	0.32
Oregon	0.39	0.48	0.58	0.00	0.23	0.50
Pennsylvania	3.54	11.73	4.80	4.29	8.32	9.42
Puerto Rico	4.30	3.53	4.33	3.75	3.71	4.35
Rhode Island	2.00	0.77	1.76	0.00	0.00	1.22
South Carolina	3.79	0.60	3.19	4.79	3.86	1.21
South Dakota	0.10	0.00	0.11	0.00	0.00	0.00
Tennessee	1.14	0.75	1.22	0.00	0.64	0.00
Texas	6.25	11.20	6.57	6.60	5.15	7.78
US Virgin Islands	0.00	0.00	0.00	0.00	0.00	0.00
Utah	0.32	0.23	0.35	1.35	0.31	0.42
Vermont	0.22	0.00	0.17	0.00	0.52	0.00
Virginia	1.86	0.37	2.12	0.00	2.07	3.47
Washington	1.48	1.30	1.69	0.31	1.69	3.06
West Virginia	0.39	0.15	0.45	0.00	0.00	0.00
Wisconsin	1.59	1.54	1.45	0.89	1.64	1.20
Wyoming	0.00	0.00	0.18	0.00	0.05	0.32
AMT	11.92%	14.61%	12.25%	20.16%	21.61%	14.42%

• Certain states require that Funds meet investment thresholds before a shareholder can exempt distributions attributable to his or her home state. In 2022, none of the Funds listed above satisfied the thresholds imposed by California and Minnesota.