2023 Dividends-Received Deductions

Corporate taxpayers generally are entitled to a deduction for dividends received from another domestic corporation. To determine the amount of dividends qualifying for this deduction, multiply the "percent qualifying for deduction" (shown in the table) by the amount of your total ordinary dividends. Please note that ordinary dividends of a fund includes, if applicable, net short-term capital gains and foreign taxes paid.

Note that you may not take this deduction for a dividend on shares of a fund that have been held for less than 46 days during the 91-day period beginning on the date 45 days before the ex-dividend date. Find your fund's ex-dividend date.

Dividends-Received Deductions Tables

T. Rowe Price Domestic Stock Funds

T. Rowe Price Fund Percent Qualifying for Deduction1
All-Cap Opportunites 25.55%
Balanced (All Quarters) 24.53%
Blue Chip Growth N/A
Capital Appreciation 26.81%
Capital Appreciation and Income 9.18%
Communications & Technology 100.00%
Diversified Mid-Cap Growth 100.00%
Dividend Growth - All Quarters 100.00%
Equity Income - All Quarters 91.08%
Equity Index 500 - All Quarters 92.42%
Extended Equity Market Index 67.98%
Financial Services 100.00% 
Growth Stock 100.00% 
Health Sciences N/A
Hedged Equity 64.47%
Integrated U.S. Large-Cap Value Equity 100.00%
Integrated U.S. Small-Cap Growth Equity N/A
Integrated U.S. Small-Cap Growth Equity 100.00%
Large-Cap Growth N/A
Large-Cap Value 91.08%
Mid-Cap Growth 100.00%
Mid-Cap Value 100.00%
Multi-Strategy Total Return 1.89%
New Era 49.48%
New Horizons N/A
Real Assets 16.56%
Real Estate - All Quarters 0.19%
Science & Technology
Small-Cap Stock 100.00%
Small-Cap Value 100.00%
Spectrum Conservative Allocation - All Quarters 8.09%
Spectrum Moderate Allocation - All Quarters 16.08%
Spectrum Moderate Growth Allocation 31.04%
Tax-Efficient Equity 100.00%
Total Equity Market Index 100.00%
U.S. Equity Research 100.00%
U.S. Large-Cap Core 100.00%
Value 81.30%

T. Rowe Price International/Global Stock and Bond Funds

International/Global Stock Funds

T. Rowe Price Fund Percent Qualifying for Deduction1
Africa & Middle East
Asia Opportunities 1.79%
China Evolution Equity 1.01%
Emerging Europe
Emerging Markets Discovery Stock
Emerging Markets Stock 2.31%
European Stock
Global Allocation 17.27%
Global Consumer 100.00%
Global Growth Stock 100.00%
Global Impact Equity 100.00%
Global Industrials 94.04%
Global Real Estate - All Quarters 0.46%
Global Stock 100.00%
Global Technology N/A
Global Value Equity 60.10%
Integrated Global Equity 43.69%
International Disciplined Equity
International Discovery
International Equity Index
International Stock 0.63%
International Value Equity
Japan
Latin America
New Asia 1.90%
Overseas Stock 0.95%

International/Global Bond Funds

T. Rowe Price Fund Percent Qualifying for Deduction1
Dynamic Credit
Dynamic Global Bond
Emerging Markets Bond
Emerging Markets Corporate Bond
Emerging Markets Local Currency Bond
Global High Income Bond
Global Multi-Sector Bond
International Bond
International Bond (USD Hedged)

T. Rowe Price Taxable Bond and Money Market Funds

T. Rowe Price Fund Percent Qualifying for Deduction1
Cash Reserves
Corporate Income
Credit Opportunities 0.25%
Floating Rate
GNMA
Government Money
High Yield 0.20%
Inflation Protected Bond
Limited Duration Inflation Focused Bond
New Income
QM U.S. Bond Index
Short Duration Income
Short-Term Bond
Total Return 0.10%
U.S. High Yield 0.41%
U.S. Limited Duration TIPS Index
U.S. Treasury Intermediate Index
U.S. Treasury Long-Term Index
U.S. Treasury Money
Ultra Short-Term Bond

T. Rowe Price Tax-Free Bond and Money Market Funds

T. Rowe Price Fund Percent Qualifying for Deduction1
California Tax-Free Bond N/A
Georgia Tax-Free Bond N/A
Intermediate Tax-Free High Yield N/A
Maryland Short-Term Tax-Free Bond N/A
Maryland Tax-Free Bond N/A
Maryland Tax-Free Money N/A
New Jersey Tax-Free Bond N/A
New York Tax-Free Bond N/A
Summit Municipal Income N/A
Summit Municipal Intermediate N/A
Tax-Exempt Money N/A
Tax-Free High Yield N/A
Tax-Free Income N/A
Tax-Free Short-Intermediate N/A
Virginia Tax-Free Bond N/A

T. Rowe Price Retirement, Spectrum, and Target Funds

T. Rowe Price Fund Percent Qualifying for Deduction1
Retirement 2005 12.46%
Retirement 2010 14.12%
Retirement 2015 15.66%
Retirement 2020 17.31%
Retirement 2025 20.66%
Retirement 2030 28.15%
Retirement 2035 37.01%
Retirement 2040 45.82%
Retirement 2045 51.65%
Retirement 2050 54.73%
Retirement 2055 64.82%
Retirement 2060 62.87%
Retirement 2065 57.20%
Retirement Balanced 10.87%
Retirement Blend 2005 13.09%
Retirement Blend 2010 14.61%
Retirement Blend 2015 15.69%
Retirement Blend 2020 17.11%
Retirement Blend 2025 20.29%
Retirement Blend 2030 26.25%
Retirement Blend 2035 33.01%
Retirement Blend 2040 38.52%
Retirement Blend 2045 41.61%
Retirement Blend 2050 42.50%
Retirement Blend 2055 42.08%
Retirement Blend 2060 41.77%
Retirement Blend 2065 39.08%
Retirement I 2005 - I Class 12.56%
Retirement I 2010 - I Class 13.74%
Retirement I 2015 - I Class 14.71%
Retirement I 2020 - I Class 16.68%
Retirement I 2025 - I Class 20.94%
Retirement I 2030 - I Class 28.41%
Retirement I 2035 - I Class 37.43%
Retirement I 2040 - I Class 45.83%
Retirement I 2045 - I Class 48.72%
Retirement I 2050 - I Class 48.92%
Retirement I 2055 - I Class 49.93%
Retirement I 2060 - I Class 49.80%
Retirement I 2065 - I Class 49.04%
Retirement Balanced I - I Class 10.69%
Retirement Income 2020 17.73%
Spectrum Diversified Equity 100.00%
Spectrum Income 6.44%
Spectrum International Equity 0.71%
Target 2005 8.32%
Target 2010 8.85%
Target 2015 9.83%
Target 2020 10.98%
Target 2025 13.65%
Target 2030 19.08%
Target 2035 25.69%
Target 2040 33.35%
Target 2045 41.69%
Target 2050 47.56%
Target 2055 49.41%
Target 2060 50.79%
Target 2065 50.98%

1This percentage applies to the sum of your income dividend plus short-term capital gain distribution paid for the calendar year or other period, if indicated, as reported in Box 1a of your IRS Form 1099-DIV.

Percentages are the same for all fund classes (Investor, Advisor, R, and I classes). For more information on Advisor, R, Institutional, and Portfolio funds, please visit our website for financial intermediaries.

N/A is indicated where a fund did not pay a taxable income dividend or short-term capital gain or pass through a foreign tax expense in 2023.

A dash indicates that the fund paid a dividend or short-term capital gain, but it was not entitled to a deduction for dividends received.

202401-3311663

Related Content