2016 Closed-End Fund Tax Details
The Calamos Closed-End Funds pay out distributions for each common share each month. You should know how much you received in distributions as you prepare your taxes since the IRS classifies distributions as reportable income.
* These per share amounts represent the portion of the ordinary income dividend from the fund that may be taxed at a lower rate of 15% (or 0% for shareholders in the 15% or lower tax bracket) rather than the higher marginal rates applicable to ordinary income.
Qualified dividends are generally defined as distributions from domestic corporations and certain qualified foreign corporations. A portion of a fund's dividend may not qualify for the lower tax rates if it is derived from non-qualified sources, such as interest income and short-term gains. Please note that the reduced rate applies to qualified dividends through 2014. Beginning on January 1, 2013, qualified dividends paid to shareholders in the top bracket will be taxed at a rate of 20%. In addition, shareholders may be subject to an additional 3.8% tax on their net investment income under The Patient Protection and Affordable Care Act of 2010.
The amount of your dividend that is eligible for the lower tax rates is reported in Box 1b of your Form 1099-DIV mailed in January or early February 2015. To be eligible for the lower tax rates, you must have held your shares for at least 61 days during the 121-day period beginning 60 days before the ex-dividend date of the fund. The ex-date is the date on which the dividend is deducted from the fund's per-share net asset value. Shareholders may not count the day on which the shares were purchased or acquired by reinvesting dividends. The day shares are sold may be counted.
None of the information on this Web site should be considered legal or tax advice. You should consult your legal or tax advisor for information concerning your own specific tax situation.
The dividend tables provided here are for informational purposes only and to assist you in your tax planning. When preparing your tax return, please refer to your Form 1099-DIV and consult your legal or tax advisor.