2026 Mutual Fund Preliminary Year-End Distributions Estimates

Getting an early start on tax planning for your T. Rowe Price mutual funds can help minimize the amount of your total return that is taxed. One of the most important considerations for year-end tax planning is the amount of dividends and distributions the funds will pay in December. These dividends can affect your estimated tax payments, as well as the timing of year-end purchases of fund shares.

For example, if you are planning to purchase fund shares late in the year, you should be aware that if you invest shortly before a fund distributes gains, you may, in effect, receive a portion of your investment back as a taxable distribution. When this happens, you may have to pay income or capital gains tax on the distribution. In certain cases—especially if a fund is expecting a large distribution—it may make sense to wait until after a fund has distributed its gains before you invest. View the Dividend Distribution Dates. Please note that the 2026 year-end dividend distribution dates for some funds may have changed from what was previously posted on the Dividend Distribution Dates page. 

We’d like to remind you that frequent movement into and out of funds or other securities can create wash sales. A wash sale occurs when you sell shares of a security at a loss and purchase or acquire the same or substantially identical security within 30 days before or after the sale. The IRS’s wash sale rule would disallow the loss from the wash sale on your income tax return. This rule applies to your purchase and sale of shares in an equity fund, as well as in a bond fund. It’s important to note that this rule also applies when shares sold in a nonretirement account are purchased in substantially identical shares in a Traditional or Roth IRA within 30 days before or after.

Using the Distribution Table

You may use the tables below to get a rough estimate of your dividend and capital gains distributions for purposes of calculating your taxes, but the information in the tables should not be used for completing your tax return. Final numbers will be available in mid- to late December. Distribution information to help you prepare your returns will, in most cases, be provided to you on the appropriate tax forms in late January. Shareholders of the T. Rowe Price Real Estate Fund, T. Rowe Price Global Real Estate Fund, T. Rowe Price Real Assets Fund, T. Rowe Price Mid-Cap Value Fund, and T. Rowe Price Small-Cap Value Fund will receive 1099-DIV and 1099-B forms in mid-February. Tax information mailing schedule.

Estimated Dividend and Distribution Amounts

Locate the fund or funds you own in the tables. Multiply the number of shares you expect to hold in each fund on the record and declaration date by each fund's per share amount in the Income Dividends, Short-Term Gains, and Long-Term Gains columns. For funds that distribute income every month or quarter, please refer to your monthly account statement to find the amount of income dividends you have already received this year.

Qualified Dividend Estimates

If your fund has an estimated qualified dividend percentage listed in the table, multiply the percentage in the Qualified Dividends column by the sum of your Income Dividends plus Short-Term Gains. For funds that distribute income every month or quarter, multiply the estimated Qualified Dividends percentage listed in the table by the sum of your dividends received this year (refer to your account statement to find this amount) to approximate your estimated qualified dividends.

Please note: a fund’s dividend may not always qualify for the lower tax rates, especially if it is derived from interest, short-term gains, or other non-qualified sources. The tables below exclude quarterly dividends paid earlier this year and income that is paid monthly.

Remember, you should not prepare your taxes until you receive all of your official tax forms. Do not use the estimated distribution amounts shown in the tables below to prepare your official tax returns. Income numbers also are estimates of annual amounts. As a result, both income and capital gain amounts are likely to change. It also is possible, although less likely, that income or capital gain amounts reported to you throughout the year could be reclassified on your Form 1099-DIV, which would change their tax treatment.

Per Share Amounts are as of September 30, 2026.
The tables list funds currently expected to have year-end distributions—dividend income, capital gains, or both. Amounts shown are not final. Check our website in December for final distribution amounts.

^*per share amount

¹Reflects the portion of income dividends and short-term capital gains that are eligible to be taxed as qualified dividends. To the extent a fund receives qualified dividends from stocks it holds, it can designate all or a portion of the dividends it pays as qualifying for taxation at the federal long-term capital gains rate (maximum rate of 20%).

²Estimated income dividends in excess of the monthly distributions are expected to be paid from the Inflation Protected Bond, Limited Duration Inflation Focused Bond, and U.S. Limited Duration TIPS Index funds in the amounts of $0.43 per share, $0.19 per share, and $0.36 per share, respectively. Additional income dividends relate to inflation adjustments on Treasury inflation protected securities (TIPS). The declaration/record date and ex-dividend/reinvestment date is November 30, 2026, and the payment date is December 1, 2026.

³Estimate does not incorporate income and gain/loss from certain investments due to the availability of the data.

Please note that year-end estimates are for the Investor and I Classes only. For more information on other fund classes, please visit our website for financial intermediaries.

For year-end estimates for T. Rowe Price ETFs, please visit T. Rowe Price ETF Dividend Distributions.

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