Illustrated Explanation of an Informational Tax Statement

Lists all taxable dividends, long–term capital gain distributions, and nondividend distributions from mutual funds held in your account. Please note, this year we will begin reporting tax-exempt interest dividend and private activity bond interest dividend amounts in columns 10 and 11 of this form. Specified private activity bond interest must be taken into account in computing the federal alternative minimum tax (AMT). The tax-exempt interest reported in column 10 includes these specified private activity bond interest dividends, if any. For more information, see the IRS Instructions for Form 4626, Alternative Minimum Tax—Corporations (PDF). In prior years, following IRS regulations governing reporting for non-exempt accounts, Fidelity reported this information on lines 8 and 9 of the Interest Income section (no longer needed for your statement).

If an Unrecaptured Section 1250 gain, Section 1202 gain, or Collectibles (28%) gain was distributed, line 2b, 2c, and/or 2d will appear, respectively, in this section. If your fund paid foreign tax, we report the amount that you may be able to claim as a deduction or credit in column 6. We add the foreign tax paid to the dividend amount you received and report the total in column 1a and, if applicable, column 1b. For this reason, the total dividends reported on the statement may be higher than the amount that you actually received.

For additional 2012 foreign tax credit pass–through information, in early February you will be able to see the Important Information for Corporations about Foreign Tax Paid letter on the Fidelity Fund–Specific Tax Information page in Fidelity’s Tax Center.

A portion of column 1a—Total Ordinary Dividends—may be eligible for the deduction for dividends received from domestic corporations under Internal Revenue Code Section 243. If you received a dividend from a Fidelity mutual fund, which may qualify for the corporate deduction for dividends received, in mid–February you will be able to see the Percentage of Dividends Received which May Qualify for a Deduction letter on the Fidelity Fund–Specific Tax Information page in Fidelity’s Tax Center. This letter identifies the percentage of each dividend distribution from a Fidelity mutual fund reported in column 1a that is attributable to dividends received by the fund from domestic corporations and which may qualify for the corporate deduction for dividends received.

As part of our efforts to continue to comply with the IRS cost basis reporting requirements for non-exempt accounts, Fidelity has also enhanced the design and content of the Proceeds from Broker and Barter Exchange Transactions section in the Informational Tax Reporting Statement. As a result, we now separate your proceeds information into up to three subsections (if applicable): Short-Term Transactions, Long-Term Transactions, and Transactions for Which Term is Unknown. For your Fidelity Funds account, your cost basis information for redemptions, sales, etc. will appear in one of these sections.

We report all transactions on a trade–date basis, and we report the proceeds as gross proceeds. If you are required to file a federal tax return, you will generally be required to provide the adjusted basis for the shares sold, in order to determine the associated realized gain or loss. Fidelity provides estimated cost basis, realized gain and loss, and holding period information in one of the subsections, listed above.*

Fidelity follows IRS rules for calculating average cost basis for mutual funds. Due to the implementation of cost basis reporting regulations for non-exempt accounts for 2012, Fidelity is separately tracking average cost for “covered” and “noncovered” Fidelity mutual fund shares. Positions, using the average cost calculation method, that include both noncovered and covered shares are considered bifurcated. As such, these positions comprise the following:

• Fidelity mutual fund shares acquired prior to January 1, 2012
• Additional share purchases that occur on or after January 1, 2012, of the same mutual fund

For mutual fund positions that are considered bifurcated

• The average cost basis for covered and noncovered lots is calculated separately.