For questions regarding a tax form you have received from Thornburg Investment Management, or if you need an additional copy of the tax form, please contact our Mutual Fund Operations Group at (800) 847-0200, Option 0. Our representatives are available Monday through Friday from 7:30 AM MT to 4:30 PM MT and will be happy to assist you.
I have an IRA. What is the cut-off date for prior-year contributions?
If you are holding either a Roth or Traditional IRA and you want to make a contribution for the prior year, you have until April 15** of the current year.
**Must be postmarked by April 15.
Depending on how your account is registered, tax reporting procedures may be different. Your broker dealer firm may be responsible for all year end tax reporting. Please consult your Financial Representative or Tax Advisor for further details.
Cost Basis Reporting Changes In October 2010, the Internal Revenue Service issued new regulations regarding cost basis that were established pursuant to the Economic Stabilization Act of 2008. Under the regulations, mutual funds are required to report cost basis information to the IRS for all shares acquired on or after January 1, 2012. When you sell or exchange shares of your Thornburg Fund, you may have a capital gain or loss that you may be required to report to the IRS. To calculate the capital gain or loss from shares sold or exchanged, you must know the original price paid, or cost basis, for the shares sold. Any transaction that increases or decreases the number of shares in your account can affect the cost basis. Cost basis reporting applies to regular taxable accounts and to accounts owned by S Corporations. Cost basis reporting does not apply to IRA or Retirement Platform accounts. The effective date for shareholders of mutual funds is January 1, 2012.
- The new regulations treat shares acquired before the effective date as non-covered shares. Thornburg Investment Management is not required to report cost basis to the IRS for shares purchased prior to the effective date. For certain eligible accounts, we have been maintaining Average Cost information on your account(s) as a service. You have not been obligated to use this information in your tax reporting.
- Shares acquired on or after the effective date are considered covered shares. Thornburg Investment Management will now report the cost basis for all covered shares to both you and the IRS. When filing your tax return, you will be required to use the cost basis reported on your 1099-B for your covered shares.
See our Mutual Fund Tax Information document for detailed information.
Please note that Thornburg Investment Management offers no tax, investment, or sales advice. We understand that tax rules are complex and recommend you discuss your specific situation with your tax advisor and financial representative.
If you have additional questions, please call 800-847-0200 to speak with a shareholder representative.