2023 Madison Funds Tax Information

The Madison Funds IRS 1099 tax forms were mailed to shareholders on January 25, 2024.

Helpful Reminders 

  • You will not receive a Form 1099-DIV if you have taxable ordinary dividends for any fund totaling $10 or less. You must still include these dividends on your income tax return. The dividends are shown in the “Income and Capital Gains Summary” section of your 2023 year-end investor statement mailed in early January.

  • IRS Form 5498 and 5498-ESA (which reports the Fair Market Value of contributions made to individual retirement accounts (IRAs) and Coverdell Education Savings Accounts (ESAs) through April 15, 2024, for the 2023 tax year will be mailed by May 31, 2024 and May 1, 2024, respectively. As of December 31, 2023, the Fair Market Value of these accounts was noted on your year-end investor statement.

  • You can download your tax information for your Madison Funds account into TurboTax® and H&R Block® Tax Software. Import your fund-related data for three tax forms: 1099-DIV, 1099-B, and 1099-R. Simply follow the instructions provided with your tax software product.

Feel free to contact your financial adviser or Shareholder Services at 1-800-877-6089 if you have any questions regarding your Madison Funds account.

Capital Gain Distributions

Throughout the year, mutual funds realize gains and losses from selling securities held in their portfolios.  Mutual funds are required to distribute the net realized gains from these sales to shareholders each year.  Below are the capital gains paid by the Madison Funds in 2023.   Short-term capital gains distributions are taxed like ordinary income.

Funds Capital Gains Per Share ($)
Short-Term Long-Term
Madison Aggressive Allocation Fund None None
Madison Conservative Allocation Fund None None
Madison Core Bond Fund None None
Madison Covered Call & Equity Income Fund None None
Madison Diversified Income Fund None $1.66593056
Madison Dividend Income Fund None $1.00497714
Madison High Quality Bond Fund None None
Madison International Stock Fund None None
Madison Investors Fund $0.17282742 $1.92699727
Madison Mid Cap Fund $0.02964479 $0.14501602
Madison Moderate Allocation Fund None None
Madison Small Cap Fund None $0.02986871
Madison Sustainable Equity Fund None None
Madison Tax-Free National Fund None None
Madison Tax-Free Virginia Fund None None

Actual distribution amounts are based on gains and losses realized by the Madison Funds through October 31.

Capital Gain Distributions – ETFs

The following short-term and long-term capital gains were distributed for Madison ETFs.

Ex-Date: December 26, 2023 | Record Date: December 27, 2023 | Payable Date: December 29, 2023

Funds Distribution Rate Per Share ($)
Short-Term Long-Term
Madison Aggregate Bond ETF – MAGG None None
Madison Dividend Value ETF None None
Madison Covered Call ETF 0.20097 None
Madison Short Term Strategic Income ETF None None

Distribution of Ordinary Income Dividends

When mutual funds earn interest or dividends from securities held in their portfolios, it subtracts fund expenses and passes this “ordinary income” on to shareholders. Shareholders are notified on Form 1099-DIV (mailed in late January) of the actual amounts of any capital gains or ordinary income dividend distributions.

2024 Distribution Calendar

The distribution schedule for year-end ordinary income dividends and capital gains for the Madison Funds is noted below.

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Funds (Nasdaq Symbol, Fund #) Distribution Frequency Declaration Date Record Date Ex/Reinvest/
Payable Date
Type
Core Bond Fund:
  • Class A (MBOAX; 110),
  • Class Y (MBOYX; 6610),
  • Class I (MBOIX; 8810),
  • Class R6 (MBORX; 741),
Tax-Free National Fund:
  • Class Y (GTFHX; 6397)
Tax-Free Virginia Fund:
  • Class Y (GTVAX; 6394)
Monthly 01/29/2024 01/30/2024 01/31/2024 Income
02/27/2024 02/28/2024 02/29/2024 Income
03/26/2024 03/27/2024 03/28/2024 Income
04/26/2024 04/29/2024 04/30/2024 Income
05/29/2024 05/30/2024 05/31/2024 Income
06/26/2024 06/27/2024 06/28/2024 Income
07/29/2024 07/30/2024 07/31/2024 Income
08/28/2024 08/29/2024 08/30/2024 Income
09/26/2024 09/27/2024 09/30/2024 Income
10/29/2024 10/30/2024 10/31/2024 Income
11/25/2024 11/26/2024 11/27/2024 Income
12/23/2024 12/24/2024 12/26/2024 Income & Cap Gains
Diversified Income Fund:
  • Class A (MBLAX; 111),
  • Class C (MBLCX; 511),
Monthly 01/29/2024 01/30/2024 01/31/2024 Income
02/27/2024 02/28/2024 02/29/2024 Income
03/26/2024 03/27/2024 03/28/2024 Income
04/26/2024 04/29/2024 04/30/2024 Income
05/29/2024 05/30/2024 05/31/2024 Income
06/26/2024 06/27/2024 06/28/2024 Income
07/29/2024 07/30/2024 07/31/2024 Income
08/28/2024 08/29/2024 08/30/2024 Income
09/26/2024 09/27/2024 09/30/2024 Income
10/29/2024 10/30/2024 10/31/2024 Income
11/25/2024 11/26/2024 11/27/2024 Income
12/26/2024 12/27/2024 12/30/2024 Income & Cap Gains
Covered Call & Equity Income Fund:
  • Class A (MENAX; 1155),
  • Class C (MENCX; 555),
  • Class Y (MENYX; 6655),
  • Class I (MENIX; 8855),
  • Class R6 (MENRX; 755)
Dividend Income Fund:
  • Class A (MADAX; 1779),
  • Class Y (BHBFX; 6401),
  • Class I (MDMIX; 8801)
  • Class R6 (MADRX; 781)
High Quality Bond Fund:
  • Class Y (MIIBX; 6391)
  • Class I (MIIRX; 8891)
Quarterly 03/26/2024 03/27/2024 03/28/2024 Income
06/26/2024 06/27/2024 06/28/2024 Income
09/26/2024 09/27/2024 09/30/2024 Income
12/23/2024 12/24/2024 12/26/2024 Income & Cap Gains
Conservative Allocation Fund:
  • Class A (MCNAX; 165),
  • Class C (MCOCX; 565)
Quarterly 03/26/2024 03/37/2024 03/28/2024 Income
06/26/2024 06/27/2023 06/28/2024 Income
09/26/2024 09/27/2024 09/30/2024 Income
12/26/2024 12/27/2024 12/30/2024 Income & Cap Gains
International Stock Fund:
  • Class A (MINAX; 122),
  • Class Y (MINYX; 6622)
Investors Fund:
  • Class A (MNVAX; 199),
  • Class Y (MINVX; 6399),
  • Class I (MIVIX; 8899)
  • Class R6 (MNVRX; 796),
Mid Cap Fund:
  • Class A (MERAX; 123),
  • Class Y (GTSGX; 6623),
  • Class I (MDCIX; 8823)
  • Class R6 (MMCRX; 723),
Small Cap Fund:
  • Class A (MASMX; 124),
  • Class Y (BVAOX; 6624),
  • Class I (MSCIX; 8824)
  • Class R6 (MSCRX; 744)
Sustainable Equity Fund:
  • Class Y (MFSYX; 6625),
  • Class I (MFSIX; 8825)
Annual 12/24/2024 12/26/2024 12/27/2024 Income & Cap Gains
Aggressive Allocation Fund:
  • Class A (MAGSX; 167),
  • Class C (MAACX; 567)
Moderate Allocation Fund:
  • Class A (MMDAX; 166),
  • Class C (MMDCX; 566)
Annual 12/26/2024 12/26/2024 12/27/2024 Income & Cap Gains