Tax Center: General Frequently Asked Questions

Specific tax information to help you prepare your tax return.

  • Most tax forms are mailed between January 31 and February 15 for the prior tax year. The type of account you have and the activity in your account will determine which tax form(s), if any, you will receive. A tax form will be generated if you made a transaction or if you received $10 or more in dividends and/or capital gain distributions in each fund.

  • This is most likely because your fund reclassified a portion of its dividend, short-term capital gain, or long-term capital gain distributions. When a reclassification occurs, the total distributions remain the same, but the breakdown of the distributions changes. As a result, the distributions reported on your tax form will not match the amount on your year-end statement. You should use the amount(s) on your tax form to file your taxes.

  • Generally, you will not receive Form 1099-DIV if your distributions are less than $10. However, because a portion of the total dividend was reclassified as a non-taxable distribution (return of capital), we are required to report the distribution even though it was less than $10. The amount that is reclassified as a non-taxable distribution is reported in Box 3 of Form 1099-DIV.

  • You can get your tax forms faster by signing up to receive your tax forms through our e-Delivery service. You can sign up for this feature online when you access your account at www.pgiminvestments.com/myaccess Opens in a new window. Once online, select the "Mutual Funds" tab and then click on "E-Delivery Preferences" and complete your updates.

    While online, you can also take advantage of e-Delivery for mutual fund statements, transaction confirmations, and shareholder reports. In addition, you can print a copy of your recent tax forms online.

    You may also obtain a duplicate tax form by calling the Prudential Mutual Fund Service Center at (800) 225-1852.

  • At the end of each January, the Supplemental Tax Information brochure is made available online through our Tax Center.

  • Form 1099-DIV is used to report dividends, capital gains, nontaxable distributions, tax-exempt interest, and specified private activity bond interest (or Alternative Minimum Tax) paid on non-retirement accounts. Since capital gains and dividends paid on IRA accounts are tax-deferred, they do not generate tax reporting. A Form 1099-R will be mailed to you only when you receive a cash distribution from your IRA(s).

  • You must take your first required minimum distribution by April 1 of the calendar year following the year when you turn age 70½. However, in each subsequent year, you must take that year's minimum distribution by December 31. If you choose to wait until April 1 for your first distribution, you will be required to take two minimum distributions for that particular year. It is important to take the distributions on time because, in addition to full tax liability, the Internal Revenue Service (IRS) will impose a penalty of 50% on any required distribution amount that is not taken.

  • The distribution code indicated on the form identifies the type of distribution. For example, a code 7 indicates a normal distribution, which is most often used for distributions after the owner reaches age 59½. A full description of all distribution codes is listed on the back of the form you receive.

  • You can make a contribution for the prior year until the tax return due date. For 2018 returns, that date is April 15, 2019. The contribution amount for the 2018 tax year is $5,500 and for the 2019 tax year it is $6,000 for those under age 50. Those who are age 50 and older can contribute an additional $1,000 for each tax year as a catch-up contribution.

    You must inform us if you make a contribution from January 1 through April 15 (or the tax return due date if later) and want it applied to the prior year.

  • A Form 5498 will be mailed by May 31 if you make a contribution to a traditional IRA, Roth IRA, or Simplified Employee Pension (SEP) plan.

  • You can make a contribution for the prior year until the tax return due date. For 2018 returns, that date is April 15, 2019. The contribution limit is $2,000 for the 2018 and 2019 tax years.

    You must inform us if you make a contribution from January 1 through April 15 (or the tax return due date if later) and want it applied to the prior year.

  • Please visit the Tax Season Newsletter section for more information on reporting your income. For more assistance, we suggest that you seek the advice of your tax professional. You can also contact the IRS at (800) 829-1040 or visit the IRS website at www.irs.gov.

Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and the summary prospectus contain this and other information about the fund. Contact your financial professional for a prospectus and the summary prospectus. Read them carefully before investing.

An investment in our money market funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the funds seek to preserve the value of your clients investment at $1.00 per share, it is possible to lose money by investing in the funds.

Mutual fund investing involves risk. Some mutual funds have more risk than others. The investment return and principal value will fluctuate and investor's shares when sold may be worth more or less than the original cost. Fixed income investments are subject to interest rate risk, and their value will decline as interest rates rise. Asset allocation and diversification do not assure a profit or protect against loss in declining markets. There is no guarantee a Fund's objectives will be achieved. The risks associated with each fund are explained more fully in each fund's respective prospectus. Your clients should consult with their attorney, accountant, and/or tax professional for advice concerning their particular situation.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. Clients seeking information regarding their particular investment needs should contact a financial professional.

Investment products are distributed by Prudential Investment Management Services LLC, a Prudential Financial company, member SIPC. Separately Managed Accounts are offered through our affiliates. Jennison Associates and PGIM, Inc. (PGIM) are registered investment advisors and Prudential Financial companies. QMA is the primary business name of QMA LLC, a wholly owned subsidiary of PGIM. PGIM Fixed Income and PGIM Real Estate, are units of PGIM. © 2019 Prudential Financial, Inc. and its related entities. Jennison Associates, Jennison, PGIM Real Estate, PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

Investment Products: Are not insured by the FDIC or any other federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.

 

1013665-00001-00  Ed. 12/2018