|
|
2007 Tax Form Schedule
If you redeemed shares of a Wasatch Fund or if a Fund you own made a distribution in 2007, you will receive a tax form. See below for details regarding when the forms will be mailed:
| Tax Form | Mail Date |
|---|
| 1099-B | January 18, 2008 | | 1099-DIV | January 18, 2008 | | 1099-R | January 18, 2008 | | Form 5498 | May 31, 2008 |
1099s will only be generated for non-retirement accounts with a distribution of $10 or more.
2007 Tax Card
Click here to obtain information for the percentages of total ordinary income dividends from the Wasatch-Hoisington U.S. Treasury Fund and the Northern U.S. Government Money Market Fund that were attributable to interest on securities issued by the U.S. Treasury (bills, certificates of indebtedness, notes and bonds) and certain government agencies.
Cost Basis Statements
A cost basis statement will be mailed by January 31, 2008 to shareholders who redeemed shares during 2007. You will receive a cost basis statement for each taxable account (excluding money market accounts) in which there was a reportable sale in 2007.
Cost basis statements show the average cost per share using the Average Cost—Single Category method of accounting permitted by the IRS. This method calculates an average share price based on all of the shares owned at the time of sale.
In addition to the Average Cost—Single Category method used by Wasatch Funds, the IRS permits three other accounting methods for determining capital gains or losses:
- Average Cost—Double Category
- First In—First Out (FIFO)
- Specific Identification
Once an accounting method is chosen for a particular fund, you cannot change this method unless you have approval in writing from the IRS.
This information is not intended to provide legal, tax or accounting advice. We may, from time to time, discuss products and services which have legal or tax implications, but this material is provided for informational purposes only. You should consult a qualified advisor for advice specific to your own circumstances.
| |
