Franklin Templeton Investments
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Frequently Asked Questions

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  • Form 1099-DIV, Dividends and Distributions, is the federal tax information form used to report total ordinary (taxable and tax-exempt interest) dividends, including distributions of net short-term capital gain and total capital gain distributions paid to your fund accounts during the year. Form 1099-DIV is also used to report qualified dividend income, unrecaptured Section 1250 gain, nondividend distributions (return of capital), federal income tax withheld (backup withholding), foreign tax paid, foreign source income and any specified private activity bond interest.

    This information will be included in Composite Form 1099, which was mailed and made available online by February 18, 2014.

  • You will receive Form 1099-DIV reporting information on Composite Form 1099 if you received $10 or more in dividends or other distributions from your fund during 2013. Franklin Templeton is not required to report (and does not report) taxable and tax-exempt interest dividends and distributions received on your accounts in an amount of less than $10 unless an amount of backup withholding was withheld or the fund has elected to pass through foreign tax to shareholders.

    Although Franklin Templeton is not required to report an amount under $10, you are generally required to report all dividends and distributions on your income tax returns. Any amount not reported on Form 1099-DIV can be found on your year-end Asset Summary Statement.

  • Yes. Distributions made by your Franklin Templeton fund investments are considered reportable payments whether they are received in cash or reinvested in additional fund shares. If you reinvest taxable or tax-exempt interest dividends or distributions, this income must be reported on your income tax return.

  • Yes. Distributions made to you, that Franklin Templeton is required to report to the IRS shortly after the close of year, are reported under the taxpayer identification number you provided on your account(s). A separate Composite Form 1099 is generated for each account you own.

    You could also receive more than one Form 1099-DIV per account if:

    1. You received dividends while residing in California, then moved to another state and received additional dividends while residing in the new state
      OR
    2. You received dividends while residing in another state and then moved to California and received additional dividends.
  • Yes, it was available online by February 18, 2014. Registered shareholders can view or print their year-end tax forms by logging into their account on franklintempleton.com. Login to your account or register now for account access.

  • If you receive Form 1099-DIV that includes income attributable to other taxpayers with different taxpayer identification numbers, you may need to follow the IRS guidelines for “nominees.” Please refer to the 2013 Instructions for Form 1040, U.S. Individual Income Tax Return, Schedule B, Interest and Ordinary Dividends.

    IRS forms, instructions and publications can be obtained free of charge by calling the IRS at (800) 829-1040. You may also view these materials on the IRS website.

  • Generally, individual investors will need to report Form 1099-DIV information on IRS Form 1040, U.S. Individual Income Tax Return. Depending on the type of information and amounts reported on your Form 1099-DIV, you may need to include additional forms such as Schedule B, Interest and Ordinary Dividends and/or Schedule D, Capital Gains and Losses. IRS forms can be obtained free of charge by calling the IRS at (800) 829-1040. You may also view forms on the IRS website.

  • Yes. If your tax-free fund distributed any tax-exempt interest dividends, ordinary income or capital gains of $10 or more, you will receive information under the Form 1099-DIV section of the Composite Form 1099.

  • Even though tax-exempt interest dividends are exempt from regular federal income tax, the IRS requires that you report tax-exempt interest dividends on Form 1040. Reporting this income on your tax return does not cause it to be subject to regular federal income tax.

  • Generally, individual investors will need to report tax-exempt interest dividends on IRS Form 1040, U.S. Individual Income Tax Return. If specified private activity bond interest is reported, you may need to include Form 6251, Alternative Minimum Tax-Individuals with your Form 1040.

  • Franklin Templeton is not required to report distributions less than $10 unless backup withholding was withheld or the fund elected to pass through foreign taxes to shareholders. Although the IRS does not require Franklin Templeton to report distributions less than $10, the IRS requires you to report such distributions on your income tax return. Distributions less than $10 can be found on your year-end Asset Summary Statement.

  • Composite Form 1099 is a consolidated tax form that reports both Form 1099-DIV and Form 1099-B tax information for eligible accounts. Therefore, some shareholders will also have 1099-B and cost basis reporting information on their Composite Form 1099. For additional information, visit our Form 1099-B and Cost Basis Reporting FAQ sections.

Important Legal Information

The information contained in this Tax Center is not intended to be a complete discussion of all federal or state income tax requirements. This information cannot be used by an investor to avoid any income tax penalties that may be imposed under the Internal Revenue Code. Investors should seek advice from a financial and/or tax advisor about the potential tax implications of their investments in Franklin Templeton fund(s) based on their individual circumstances.

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    For U.S. residents only.