Frequently asked questions within the categories below may provide the help you need.
Tax Forms
When will I receive my tax form?
The Tax Information Mailing Schedule lists the approximate dates the forms will be mailed to shareholders. In addition, we send, by mail or e-mail, your year-end statement in early January, which reports distributions and activity in each fund account for the year and year-end balances for accounts. Your tax form is available to view online at the same time it is mailed to you.
Please be aware that the U.S. Post Office changed its delivery standards, and delivery of your tax form delivery may take longer than in previous years.
Will I receive a tax form, and which tax forms should I expect to receive?
T. Rowe Price mails the following tax forms to shareholders:
For Brokerage accounts, including any T. Rowe Price mutual funds or exchange traded funds (ETFs) held in these accounts, IRS forms 1099-DIV, 1099-B, 1099-R, and 5498 are available online and are mailed by Pershing LLC. For further information on all tax forms, please visit the Tax Forms section.
Who will receive a tax form?
Shareholders who have a taxable account (such as individual, joint tenant, and UGMA/UTMA):
with redemption activity will receive a Form 1099-B (except for money market funds).
with distributions (dividends or capital gain distributions) or exempt-interest dividends of $10 or more, or if we withheld tax from the distribution, will receive a Form 1099-DIV.
with funds that pass through the foreign taxes paid (even if no distribution is made) will receive a Form 1099-DIV.
with funds that have withholding activity will receive a tax form reporting the amount withheld.
Shareholders who have a retirement account (such as a Traditional IRA, Roth IRA, Rollover IRA, SEP-IRA, or SIMPLE IRA):
with distributions during the tax year will receive a Form 1099-R.
with contributions for the tax year will receive a Form 5498.
Shareholders who have a retirement plan account (such as a 403(b), Individual 401(k), Profit Sharing, or Money Purchase Pension Plan):
with distributions during the tax year will receive a Form 1099-R.
Account holders or beneficiaries who have a qualified education program (such as a 529 plan or Coverdell Education Savings Account):
with distributions during the tax year will receive a Form 1099-Q. Distributions are reported under the beneficiary's Social Security Number unless the distribution was made payable directly to the account holder.
contributions into 529 plan accounts do not generate tax reporting.
Shareholders who are nonresident aliens:
with reportable payments will receive a Form 1042-S.
View tax forms issued for your account(s)
Why won't I receive a tax form?
Certain types of accounts do not require us to provide a tax form, including:
Taxable accounts with income dividends and capital gain distributions of less than $10.
Retirement accounts and qualified education programs with no reportable activity during the year.
Direct transfers from one IRA custodian to another IRA custodian provided the IRA type remains the same.
Exchanges between different funds with the same IRA type at T. Rowe Price.
The redemption fee. Redemption fees are not reported on Form 1099-R.
The account service fee and close out fee will not generate or be reported on a Form 1099-R.
Will I receive a separate tax form for each fund in which I invest?
No. You will receive a combined tax package that includes Forms 1099-DIV, 1099-B, and 1099-R (if applicable) and is mailed in late January (Forms 1099-DIV and 1099-B will be mailed in mid-February to shareholders of the T. Rowe Price Real Assets, Real Estate, Global Real Estate, Mid-Cap Value, and Small-Cap Value Funds). Each form will list the funds in which you invest that had reportable transactions during the prior tax year. You may receive separate forms, depending upon the types of accounts you hold or in which you invest or the types of distributions made to you.
Why does the dividend amount paid by my fund differ between my Form 1099-DIV and my year-end statement?
There may be several items that can result in your year-end statement not matching your tax forms. For example, reclassifications after the year-end statement is produced; foreign tax, which is reported on Form 1099-DIV but generally not on your year-end statement; and short-term capital gain distributions, which are reported separately from dividends on your statement, but are combined with dividends on Form 1099-DIV in Box 1a.
Because of these potential differences between your year-end statement and tax form, we strongly recommend waiting to receive your tax forms before preparing your tax returns, so that you have the most up-to-date and complete information.
How are tax-free dividends reported?
T. Rowe Price reports exempt-interest dividends to you on Form 1099-DIV, Box 12 (for amounts of $10 or more). You must report your exempt-interest dividends on Form 1040. You also may need to report exempt-interest dividends on your state tax return. Consult a tax professional to determine if any or all of your Form 1099-DIV dividends are subject to the alternative minimum tax or reportable state tax.
How do I get a copy of my tax forms?
Copies of your 1099 forms are available online.
View tax forms issued for your account(s)
Must I use the cost basis and gain/loss information provided by T. Rowe Price?
The cost basis information provided by T. Rowe Price on the sale of covered securities (common stocks acquired on or after January 1, 2011; mutual fund shares acquired and sold after January 1, 2012; less complex bonds and options acquired on or after January 1, 2014; complex bonds and options acquired on or after January 1, 2016) is reported to the IRS. Cost basis on noncovered shares (those acquired prior to the dates specified above for covered securities) is not reported to the IRS or any state taxing jurisdictions. In both cases, you are not required to use the cost basis information provided by us. You are responsible for reporting accurate cost basis on your tax returns. You may want to seek assistance from your tax preparer to determine your cost basis. Find more information on cost basis and the IRS rules requiring cost basis reporting on mutual funds and other types of securities.
Are all the data on my tax forms reported to the IRS?
No. For example, as a service to investors, we provide additional information to you, but not the IRS, for both covered and noncovered securities on your Form 1099-B. Your tax forms will clearly indicate what information is not reported to the IRS.
Will I receive tax forms on my Brokerage accounts?
You will receive separate tax documents from Pershing LLC, reporting taxable activity for all holdings (including T. Rowe Price funds) in your Brokerage accounts. For taxable transactions in T. Rowe Price money market sweep accounts, the tax form may be sent by T. Rowe Price. View the Tax Information Mailing Schedule for more information.
What is the wash sale shown on my Form 1099-B and how does it affect my cost basis?
Wash sale rules apply to funds. If you sell shares at a loss, you cannot claim the loss if you purchased other shares in the same fund or a substantially identical fund within a 61-day period surrounding the sale. This period includes the day of the sale, 30 days before the sale, and 30 days after the sale. The disallowed loss is added to the basis of the purchased shares that resulted in wash sales.
For Form 1099-B reporting, we are only required to report to the IRS wash sales on covered securities that have the same security identifier (such as CUSIP) and are held in the same account. You are responsible, however, for identifying and reporting all wash sales for all securities held in all of your accounts. For noncovered securities, we adjust gain/loss information for wash sales you made before the end of the calendar year and report such information to you (but not the IRS). For more details, see IRS Publication 550. Please consult a tax professional. You should note that you are ultimately responsible for the accuracy of your tax return.
Technical Support for Tax Forms and Tax Programs
How do I access my tax forms online?
Log in to your account and select Tax Forms in the Statements section to view your tax form(s).
How can I track my IRA transactions online?
It's easy to track contributions and distributions for your IRA. Just log in and view the "IRA Summary" tile in the Taxes section. This feature tells you exactly what you've contributed to date for the current and previous tax years and what you've distributed to date in the current tax year.
How can I learn more about TurboTax®?
Explore tax forms and information to find additional information regarding TurboTax® and how to import your tax form data.
How can I learn more about H&R Block® Online tax programs?
Explore tax forms and information to find additional information regarding H&R Block® Online tax program.
Where can I view T. Rowe Price fund distributions, dividends, and capital gains?
The T. Rowe Price website has fund distributions, dividends, and capital gains information for the current year and the prior two years. If you require older information, please call a customer service representative.
T. Rowe Price Mutual Fund Dividend Distributions
T. Rowe Price Exchange Traded Funds (ETF) Dividend Distributions
Where can I find my cost basis? May I choose my cost basis method to impact the gain/loss information I claim?
T. Rowe Price may provide average cost basis for your mutual funds, or FIFO on Brokerage accounts, as the default method unless you chose another method. If T. Rowe Price currently is calculating your cost basis or if you wish to change your cost basis, you may view or change it in your online account by logging in to our website.
If T. Rowe Price currently is not tracking the cost basis for your T. Rowe Price nonretirement mutual fund accounts, and you would like us to track this information, you may complete the Cost Basis Change form (PDF).
You also may find additional information regarding current cost basis information or the cost basis reporting regulations by visiting our web page, Cost Basis Accounting and Regulations.
Fund-Specific Tax Information
What are Reclassifications and Return of Capital? Do they apply to my funds?
A reclassification means that the tax character of the dividend on your Form 1099-DIV is different than the tax character reported on your statement. Tax character indicates whether the dividend is from taxable or tax-exempt income or is a short-term or long-term gain.
A return of capital occurs if a T. Rowe Price fund pays out more in distributions than it earned during the year. In this case, you do not owe tax on your share of the excess amount, which is called a "nontaxable distribution" or "return of capital." We report this type of distribution in Box 3 on Form 1099-DIV.
Return of Capital and Reclassifications information is available in the Tax Planning section of our site.
What are qualified dividends?
Qualified dividends are the portion of dividends and short-term capital gains which may be qualified for a preferred tax rate instead of tax rates applicable to ordinary income. Qualified dividends are reported in Box 1b on Form 1099-DIV and are the portion of Box 1a (Total Ordinary Dividends) which may be qualified.
Qualified dividends generally are dividends paid from shares of common stock. Shareholders must hold shares for at least 61 days during the 121-day period beginning 60 days before the ex-dividend date of the distribution.
Qualified Dividend Income Percentage information is available in the Tax Planning section of our site.
Where do I obtain T. Rowe Price fund-specific tax information to assist me in preparing my federal and state tax returns?
Visit Fund-Specific Tax and Reclassification Information section of our website for this information. It includes:
Do I have to report tax-free dividends?
T. Rowe Price reports exempt-interest dividends to you on Form 1099-DIV, Box 12 (for amounts of $10 or more). You must report your exempt-interest dividends on Form 1040. You also may need to report exempt-interest dividends on your state tax return. Consult a tax professional to determine if any or all of your Form 1099-DIV dividends are subject to alternative minimum tax or reportable state tax.
Why am I being taxed on a tax-free fund?
Although dividends paid by a tax-free fund are federally tax-exempt (note that the alternative minimum tax may apply), other payments are not tax-exempt. Capital gains distributions are subject to capital gains tax. This applies both to capital gains distributions made by the fund, as well as sales of fund shares made by you.
What is AMT and will it affect me?
AMT is the federal alternative minimum tax. The AMT operates as a parallel tax system to the regular tax system with its own definition of taxable income, exemptions, and tax rates.
To determine if the AMT affects you, you must compute tax owed under the "regular" and AMT systems, and you are liable for whichever amount of tax owed is higher. We report possible AMT taxable income on Form 1099-DIV, Box 13.
Tax Information on IRAs
Which IRA type may be right for me?
Each IRA type offers potential tax advantages, has certain eligibility requirements, and annual contribution limits. T. Rowe Price makes it easy to compare a Roth IRA to a Traditional IRA to see what best fits your retirement savings plan. Explore IRAs for a general comparison.
How can I track my basis in my IRA?
Roth IRA contributions can be tracked by referencing past Form 5498s that report contributions to your IRA and by completing Form 8606.
Nondeductible contributions made to your Traditional IRA can be tracked by referencing your Form 5498s to determine your total contribution amount and by completing the Form 8606.
If you would like more information, please view the T. Rowe Price Traditional and Roth IRA Disclosure Statement and Custodial Agreement (PDF).
Can I convert my Traditional IRA or a rollover from my retirement plan to a Roth IRA?
You may convert all or a part of your Traditional IRA to a Roth IRA. You also can convert all or part of a payment from an eligible retirement plan, such as a 401(k) or 403(b) plan, by rolling over the payment to a Roth IRA. Roth IRAs can provide many advantages, including potential tax-free withdrawals in retirement, no required minimum distributions (RMDs), and estate planning benefits. A key consideration is whether or not to pay taxes now on the taxable amounts converted in order to provide tax-free income potential in the future. However, any Roth IRA conversion made after 2017 may not be unwound (or recharacterized) - see below.
How do I convert my Traditional IRA to a Roth IRA?
A conversion of T. Rowe Price Traditional IRA mutual fund accounts can be requested online, over the phone by calling 1-877-200-5503, or via the T. Rowe Price IRA Conversion form (PDF).
Please note that T. Rowe Price Brokerage IRAs must be converted by completing a T. Rowe Price IRA Conversion form (PDF).
Can I change my contribution from one type of IRA (Traditional or Roth) to the other type?
You may change (or recharacterize) the regular annual contribution you make to a Traditional IRA or to a Roth IRA to the other type of IRA, prior to the due date (plus extensions) of your tax return for the year in which you made the contribution. You will need to complete the T. Rowe Price IRA Recharacterization form (PDF).
I converted my IRA (or rollover from another eligible retirement plan) to a Roth IRA earlier in the year. May I undo the conversion?
Effective January 1, 2018, pursuant to the tax reform bill, a conversion from an IRA to a Roth IRA cannot be recharacterized. The law also prohibits recharacterizing amounts rolled over to a Roth IRA from other retirement plans, such as 401(k) or 403(b) plans. For more information, see IRS Publication 590-A: Contributions to Individual Retirement Arrangements (IRAs) and IRS Publication 590-B: Distributions from Individual Retirement Arrangements (IRAs).
I over-contributed to my IRA, what do I do now?
If you exceeded the contribution limit, you will need to complete an IRA Excess Contribution Withdrawal form (PDF), if the excess is removed before the tax-filing deadline. Any earnings from the excess contribution are reported as taxable income and a 10% penalty may apply on those earnings if you are under 59-1/2 years of age. If the excess is not removed by the tax-filing deadline (including extensions), you are subject to a 6% penalty tax each year on the excess amounts that remain in your IRA. Use the IRA Distribution form (PDF) to remove excess contributions after the tax filing deadline (including extensions).
If you did not exceed the contribution limit but are not eligible to make a contribution to your Roth IRA because you exceed the income limits, you may be able to recharacterize the Roth contribution to a Traditional IRA.
For more information, browse Traditional IRA or Roth IRA.
How will an excess contribution removal, a recharacterization, or a conversion be reported to me and the IRS?
Excess contributions, recharacterizations, and conversions are reported as distributions on Form 1099-R, which is mailed the following January. Recharacterizations and conversions are reported as contributions on Form 5498, which is mailed the following May. These transactions also will be reflected on your account statements. Log in to your account online to access your tax forms or account statements.
Brokerage accounts are offered by T. Rowe Price Investment Services, Inc., member FINRA/SIPC. Brokerage accounts are carried by Pershing LLC, a BNY Mellon company, member NYSE/FINRA/SIPC.
Intuit, TurboTax, and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners.
The information, including all linked pages and documents, on T. Rowe Price websites is not intended to be tax advice and cannot be used to avoid any tax penalties. You should consult your own tax professional. Please see Legal Information for more details.
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