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Tax Resource Center

Important information to guide you and your clients through tax season.

 

As of March 17, 2021, the IRS has extended the April 15 tax deadline for filing individual 2020 IRS Federal Tax Returns and IRA contributions to May 17, 2021. State filing deadlines may vary. Check with your state's Department of Revenue for state filing updates.

2021 Tax dates

The tax deadline for filing individual 2020 IRS Federal Tax Returns and IRA contributions is now May 17, 2021. State filing deadlines may vary. Check with the state's Department of Revenue for state filing updates.

Make final contributions for 2020

Any contribution made to a Traditional or Roth IRA or a Coverdell Education Savings Account on or before May 17, 2021 can be made for 2020 as long you indicate that is for the 2020 tax year. Maximum contribution for Traditional and Roth IRAs: $6,000 (plus a $1,000 "catch up" contribution if your client is over 50 years old).

Taxes and tax returns are generally due unless you file for an extension

If your clients won’t make the May 17, 2021 due date for filing 2020 taxes, they can file for an extension by that date. If you request a personal extension for after May 17, 2021 this does not extend the deadline for payment of taxes owed and for making IRA or Coverdell Education Savings Account contribution for 2020. For more information visit the IRS.

Tax Form mail date information for accounts held directly with Thrivent Mutual Funds

The 5498 and/or 1099 will generally be mailed by January 31. Clients can access it online through their accounts. For Thrivent Mutual Funds that invest in REITs (real estate investment trusts), forms will be mailed and available online mid-February

  • Thrivent Diversified Income Plus Fund
  • Thrivent Multidimensional Income Fund

IRS form 5498 Coverdell Education Savings Account (CESA) reporting contributions for the previous year will be mailed by April 30. If your client made Traditional or Roth IRA contributions for 2020 in 2021, IRS Form 5498 will be mailed by June 30.

2020 Capital gains

Below are the capital gains paid by Thrivent Mutual Funds in 2020. If a Fund is not listed, there are no capital gains for the Fund. Dividends and capital gain distributions earned in qualified retirement accounts are not taxable unless paid directly to you in cash.

 

Thrivent Mutual Funds 2020 Capital Gain Distributions
Thrivent Mutual Fund Record Date Payment Date Short-Term Capital Gain (per share) Long-Term Capital Gain (per share) Total (per share)
Aggressive Allocation Fund
12/9/2020 12/10/2020 $0.00816 $0.45942 $0.46758
Global Stock Fund
12/9/2020 12/10/2020 $0.63494 $0.63494
Government Bond Fund
12/9/2020 12/10/2020 $0.12439 $0.09437 $0.21876
Income Fund
12/9/2020 12/10/2020 $0.14388 $0.12323 $0.26711
Large Cap Growth Fund
12/9/2020 12/10/2020 $1.18511 $1.18511
Large Cap Value Fund
12/9/2020 12/10/2020 $1.17753 $1.17753
Mid Cap Growth Fund
12/9/2020 12/10/2020 $0.42170 $0.42170
Mid Cap Stock Fund
12/9/2020 12/10/2020 $0.98593 $0.98593
Moderate Allocation Fund 12/9/2020 12/10/2020 $0.10014 $0.34193 $0.44207
Moderately Aggressive Allocation Fund 12/9/2020 12/10/2020 $0.05638 $0.50356 $0.55994
Moderately Conservative Allocation Fund
12/9/2020 12/10/2020 $0.09912 $0.21692 $0.31604
Small Cap Growth Fund 12/9/2020 12/10/2020  $0.02929
$0.36133 $0.39062
Small Cap Stock Fund 12/9/2020 12/10/2020 $0.28247 $0.28247

 

If a fund is not listed, the fund did not declare capital gains for 2020.

 

2020 State information for federal tax-exempt dividends

For the most part, all distributions received from the Thrivent Municipal Bond Fund or Thrivent High Income Municipal Bond Fund are taxable at the state level. Some states do not tax their own residents on interest attributed to municipal securities issued by that state. Clients may be able to exclude the appropriate percentage- as shown in the chart below-of the tax-exempt income received from the Fund when calculating state income tax.

Thrivent Municipal Bond Fund information by state for 2020
STATE
% of Dividends and state specific information
ALABAMA 0.32%
ARIZONA 1.26%
ARKANSAS 0.35%
CALIFORNIA 9.74%
COLORADO 5.32%
CONNECTICUT 0.17%
DELAWARE 0.20%
DISTRICT OF COLUMBIA 1.42%
FLORIDA 4.14%
GEORGIA 0.93%
GUAM 0.02%
HAWAII 1.85%
ILLINOIS 7.68%

INDIANA

 

1.32%

For Indiana residents, 27% of the dividends from the Thrivent Municipal Bond Fund are considered tax-exempt for state tax purposes.

IOWA 1.72%
KANSAS 1.04%
KENTUCKY 0.84%
LOUISIANA 2.00%
MARYLAND 0.20%
MASSACHUSETTS 4.53%
MICHIGAN 2.18%
MINNESOTA

3.28%

Minnesota Residents: 100% of your federal tax-exempt dividends for this fund are subject to Minnesota Income Tax.

MISSISSIPPI 0.37%
MISSOURI 0.52%
MONTANA 0.15%   
NEBRASKA 1.94%
NEVADA 0.34%
NEW HAMPSHIRE 0.36%
NEW JERSEY 1.83%
NEW YORK 8.92%
NORTH CAROLINA 0.89%
NORTH DAKOTA 0.40%
OHIO 5.92%
OKLAHOMA 1.52%
OREGON 1.09%
PENNSYLVANIA 2.48%
PUERTO RICO
0.31%
SOUTH CAROLINA 1.88%
SOUTH DAKOTA 0.10%
TENNESSEE 0.17%
TEXAS 9.83%

UTAH

 

1.63%

For Utah residents, 22% of the dividends from the Thrivent Municipal Bond Fund are considered tax-exempt for state tax purposes (using the piggyback method).  

VERMONT 0.25%
VIRGINIA 3.47%
WASHINGTON 2.68%
WEST VIRGINIA 0.26%
WISCONSIN 2.14%
WYOMING 0.04%
STATE
% of Dividends and state specific information
ALASKA 0.01%
ARIZONA 1.43%
CALIFORNIA 5.07%
COLORADO 7.88%
CONNECTICUT 0.74%
DELAWARE 1.56%
DISTRICT OF COLUMBIA 0.39%
FLORIDA 4.05%
GEORGIA 4.90%
ILLINOIS 6.69%

INDIANA

 

0.31%

For Indiana residents, 3% of the dividends from Thrivent High Income Municipal Bond Fund are considered tax-exempt for state tax purposes.

IOWA 2.31%
LOUISIANA 0.04%
MARYLAND 2.66%
MICHIGAN 3.23%
MINNESOTA

2.98%

Minnesota Residents: 100% of your federal tax-exempt dividends for this fund are subject to Minnesota Income Tax.

MISSOURI 3.50%
MONTANA 0.25%
NEBRASKA 1.50%
NEVADA 1.62%
NEW HAMPSHIRE 1.58%
NEW JERSEY 4.53%
NEW YORK 3.65%
NORTH CAROLINA 0.52%
NORTH DAKOTA 1.41%
OHIO 3.90%
OREGON 0.28%
PENNSYLVANIA 6.63%
PUERTO RICO
2.15%
SOUTH CAROLINA 2.11%
TENNESSEE 1.80%
TEXAS 11.34%

UTAH

 

1.47%

For Utah residents, 20% of the dividends from the Thrivent High Income Municipal Bond Fund are considered tax-exempt for state tax purposes (using the piggyback method).  

VIRGINIA 3.07%
WASHINGTON 0.56%
WISCONSIN 3.83%
WYOMING 0.05%
2020 Federal tax-exempt dividend information

All or a portion of the dividends earned for the Thrivent Municipal Bond Fund and Thrivent High Income Municipal Bond Fund are exempt from federal income tax. However, all or a portion of these dividends may be taxable at the state or local level. In addition, a portion of the dividends earned by the Fund is also included as a preference item for the Alternative Minimum Tax (AMT) because of the income earned from investment in private-activity municipal bonds.

Tax-exempt dividends for 2020
Fund
Thrivent Municipal Bond Fund
Tax-exempt dividends %
99.93502%
% of Dividends subject to AMT
11.37319%
   
Fund
Thrivent High Income Municipal Bond Fund
Tax-exempt dividends %
99.62480%
% of Dividends subject to AMT
19.80988%
2020 Income received by corporate shareholders

Corporate shareholders may receive a deduction from gross income for ordinary income received from a mutual fund. Of the amount shown in Box 1a on Form 1099-DIV, the percentages shown for the following Funds are eligible for the corporate “dividend-received” deduction.

Percentage of dividends eligible for corporate shareholders for 2020
Fund name
Dividend Received Deduction %
Thrivent Aggressive Allocation Fund 100.00%
Thrivent Balanced Income Plus Fund 23.2077%
Thrivent Diversified Income Plus Fund 12.1445%
Thrivent Global Stock Fund 77.5702%
Thrivent High Yield Fund 0.5357%
Thrivent Income Fund 0.4625%
Thrivent International Allocation Fund 0.0238%
Thrivent Large Cap Value Fund
100.00%
Thrivent Low Volatility Equity Fund 68.4775%
Thrivent Mid Cap Growth Fund 6.5974%
Thrivent Mid Cap Stock Fund 100.00%
Thrivent Mid Cap Value Fund 100.00%
Thrivent Moderate Allocation Fund 21.1205%
Thrivent Moderately Aggressive Allocation Fund 38.6810%
Thrivent Moderately Conservative Allocation Fund 11.3135%
Thrivent Multidimensional Income Fund 22.1331%
Thrivent Opportunity Income Plus Fund 1.6699%
Thrivent Small Cap Growth Fund 100.00%
Thrivent Small Cap Stock Fund 100.00%
2020 Qualified Dividend Income

Mutual fund dividends may qualify for lower income tax rates to the extent that the fund has received qualified dividend income from domestic corporations and certain foreign corporations. The following Thrivent Mutual Funds had ordinary income distributions that qualify for these lower tax rates as long as the shareholder met the holding period requirements.

Qualified Dividend Income percentages for 2020
Fund name
QDI %
Thrivent Aggressive Allocation Fund 100.00%
Thrivent Balanced Income Plus Fund 45.4193%
Thrivent Diversified Income Plus Fund 21.5358%
Thrivent Global Stock Fund 100.00%
Thrivent High Yield Fund 0.5357%
Thrivent Income Fund 0.4625%
Thrivent International Allocation Fund 100.00%
Thrivent Large Cap Value Fund 100.00%
Thrivent Low Volatility Equity Fund 100.00%
Thrivent Mid Cap Growth Fund 6.8374%
Thrivent Mid Cap Stock Fund 100.00%
Thrivent Mid Cap Value Fund 100.00%
Thrivent Moderate Allocation Fund 27.4188%
Thrivent Moderately Aggressive Allocation Fund 56.1810%
Thrivent Moderately Conservative Allocation Fund 15.0854%
Thrivent Multidimensional Income Fund 23.2632%
Thrivent Opportunity Income Plus Fund 1.6936%
Thrivent Small Cap Growth Fund 100.00%
Thrivent Small Cap Stock Fund 100.00%
2020 Percentage of ordinary mutual fund dividends from U.S. government obligations

For state income tax purposes, several states allow “pass-through” treatment of mutual fund dividends derived from interest on U.S. government obligations. To calculate the number of dividends qualifying for pass-through treatment, multiply the amount in Box 1a of your Form 1099-DIV by the percentages that apply to the state.

The types of government securities that qualify for such treatment vary by state. Clients should consult with a tax advisor to determine which, if any, of the obligations listed in the following table may be exempt from your state income tax.

Dividends from U.S. government obligations for 2020
Fund Name
Type of Government Obligation
Thrivent Aggressive Allocation Fund

U.S. Treasury Bonds: 4.03%

U.S. Government Agencies Total: 2.98%

    Federal Agricultural Mortgage Corporation  0.07%
    Federal Deposit Insurance Corporation  0.00%
    Federal Farm Credit Bank  0.19%
    Federal Home Loan Bank  0.95%
    Federal Home Loan Mortgage Corporation  0.47%
    Federal National Mortgage Association  1.30%
    Financing Corporation  0.00%
    Government National Mortgage Association  0.00%
    Overseas Private Investment Corporation  0.00%
    Resolution Funding Corporation  0.00%
    Student Loan Marketing Association  0.00%
    Tennessee Valley Authority  0.00%
    Small Business Administration  0.00%
    Small Business Investment Companies  0.00%
    Housing and Urban Development  0.00%

Thrivent Balanced Income Plus Fund

U.S. Treasury Bonds: 0.01%

U.S. Government Agencies Total: 2.39%

    Federal Agricultural Mortgage Corporation  0.02%
    Federal Deposit Insurance Corporation  0.00%
    Federal Farm Credit Bank  0.05%
    Federal Home Loan Bank  0.11%
    Federal Home Loan Mortgage Corporation  0.48%
    Federal National Mortgage Association  1.73%
    Financing Corporation  0.00%
    Government National Mortgage Association 
    0.00%
    Overseas Private Investment Corporation  0.00%
    Resolution Funding Corporation  0.00%
    Student Loan Marketing Association  0.00%
    Tennessee Valley Authority  0.00%
    Small Business Administration  0.00%
    Small Business Investment Companies  0.00%
    Housing and Urban Development  0.00%

Thrivent Diversified Income Plus Fund

U.S. Treasury Bonds: 0.01%

U.S. Government Agencies Total: 5.41%

    Federal Agricultural Mortgage Corporation  0.04%
    Federal Deposit Insurance Corporation  0.00%
    Federal Farm Credit Bank  0.10%
    Federal Home Loan Bank  0.09%
    Federal Home Loan Mortgage Corporation 1.31%
    Federal National Mortgage Association  3.85%
    Financing Corporation  0.00%
    Government National Mortgage Association  0.02%
    Overseas Private Investment Corporation  0.00%
    Resolution Funding Corporation  0.00%
    Student Loan Marketing Association  0.00%
    Tennessee Valley Authority  0.00%
    Small Business Administration  0.00%
    Small Business Investment Companies  0.00%
    Housing and Urban Development  0.00%

Thrivent Government Bond Fund1

U.S. Treasury Bonds: 22.62%

U.S. Government Agencies Total: 20.15%

    Federal Agricultural Mortgage Corporation  0.06%
    Federal Deposit Insurance Corporation  0.00%
    Federal Farm Credit Bank  0.60%
    Federal Home Loan Bank  0.54%
    Federal Home Loan Mortgage Corporation  5.65%
    Federal National Mortgage Association 11.31%
    Financing Corporation  0.00%
    Government National Mortgage Association  0.00%
    Overseas Private Investment Corporation  0.82%
    Resolution Funding Corporation  0.00%
    Student Loan Marketing Association  0.08%
    Tennessee Valley Authority  0.89%
    Small Business Administration  0.05%
    Small Business Investment Companies  0.15%
    Housing and Urban Development  0.00%

Thrivent Income Fund  

U.S. Treasury Bonds: 2.01%

U.S. Government Agencies Total: 1.62%

    Federal Agricultural Mortgage Corporation  0.01%
    Federal Deposit Insurance Corporation  0.00%
    Federal Farm Credit Bank  0.04%
    Federal Home Loan Bank  0.02%
    Federal Home Loan Mortgage Corporation  0.53%
    Federal National Mortgage Association  1.02%
    Financing Corporation  0.00%
    Government National Mortgage Association  0.00%
    Overseas Private Investment Corporation  0.00%
    Resolution Funding Corporation  0.00%
    Student Loan Marketing Association  0.00%
    Tennessee Valley Authority  0.00%
    Small Business Administration  0.00%
    Small Business Investment Companies  0.00%
    Housing and Urban Development  0.00%

Thrivent Limited Maturity Bond Fund

U.S. Treasury Bonds: 10.24%

U.S. Government Agencies Total: 6.07%

    Federal Agricultural Mortgage Corporation  0.03%
    Federal Deposit Insurance Corporation  0.00%
    Federal Farm Credit Bank  0.08%
    Federal Home Loan Bank  0.90%
    Federal Home Loan Mortgage Corporation  0.64%
    Federal National Mortgage Association  4.29%
    Financing Corporation  0.00%
    Government National Mortgage Association  0.00%
    Overseas Private Investment Corporation  0.00%
    Resolution Funding Corporation  0.00%
    Student Loan Marketing Association  0.13%
    Tennessee Valley Authority  0.00%
    Small Business Administration  0.00%
    Small Business Investment Companies  0.00%
    Housing and Urban Development  0.00%

Thrivent Moderate Allocation Fund

U.S. Treasury Bonds: 7.11%

U.S. Government Agencies Total: 4.83%

    Federal Agricultural Mortgage Corporation  0.04%
    Federal Deposit Insurance Corporation  0.00%
    Federal Farm Credit Bank  0.12%
    Federal Home Loan Bank  0.27%
    Federal Home Loan Mortgage Corporation  1.25%
    Federal National Mortgage Association  3.15%
    Financing Corporation  0.00%
    Government National Mortgage Association  0.00%
    Overseas Private Investment Corporation  0.00%
    Resolution Funding Corporation  0.00%
    Student Loan Marketing Association  0.00%
    Tennessee Valley Authority  0.00%
    Small Business Administration  0.00%
    Small Business Investment Companies  0.00%
    Housing and Urban Development  0.00%

Thrivent Moderately Aggressive Allocation Fund

U.S. Treasury Bonds: 6.07%

U.S. Government Agencies Total: 4.03%

    Federal Agricultural Mortgage Corporation  0.05%
    Federal Deposit Insurance Corporation  0.00%
    Federal Farm Credit Bank  0.14%
    Federal Home Loan Bank  0.34%
    Federal Home Loan Mortgage Corporation  0.96%
    Federal National Mortgage Association  2.53%
    Financing Corporation  0.00%
    Government National Mortgage Association  0.00%
    Overseas Private Investment Corporation  0.00%
    Resolution Funding Corporation  0.00%
    Student Loan Marketing Association  0.01%
    Tennessee Valley Authority  0.00%
    Small Business Administration  0.00%
    Small Business Investment Companies  0.00%
    Housing and Urban Development  0.00%

Thrivent Moderately Conservative Allocation Fund

U.S. Treasury Bonds: 8.29%

U.S. Government Agencies Total: 5.93%

    Federal Agricultural Mortgage Corporation  0.05%
    Federal Deposit Insurance Corporation  0.00%
    Federal Farm Credit Bank  0.12%
    Federal Home Loan Bank  0.18%
    Federal Home Loan Mortgage Corporation  1.70%
    Federal National Mortgage Association  3.87%
    Financing Corporation  0.00%
    Government National Mortgage Association  0.00%
    Overseas Private Investment Corporation  0.00%
    Resolution Funding Corporation  0.00%
    Student Loan Marketing Association  0.01%
    Tennessee Valley Authority  0.00%
    Small Business Administration  0.00%
    Small Business Investment Companies  0.00%
    Housing and Urban Development  0.00%

Thrivent Money Market Fund

U.S. Treasury Bonds: 8.83%

U.S. Government Agencies Total: 85.35%

    Federal Agricultural Mortgage Corporation  5.25%
    Federal Deposit Insurance Corporation  0.00%
    Federal Farm Credit Bank  17.82%
    Federal Home Loan Bank  23.72%
    Federal Home Loan Mortgage Corporation  0.96%
    Federal National Mortgage Association  1.11%
    Financing Corporation  0.00%
    Government National Mortgage Association  0.00%
    Overseas Private Investment Corporation 0.00%
    Resolution Funding Corporation  0.00%
    Student Loan Marketing Association  0.00%
    Tennessee Valley Authority  0.00%
    Small Business Administration  0.00%
    Small Business Investment Companies  0.00%
    Housing and Urban Development  0.00%

    U.S. International Development Finance Corporation  36.49%

Thrivent Opportunitiy Income Plus Fund

U.S. Treasury Bonds: 0.01%

U.S. Government Agencies Total: 6.14%

    Federal Agricultural Mortgage Corporation  0.04%
    Federal Deposit Insurance Corporation  0.00%
    Federal Farm Credit Bank  0.09%
    Federal Home Loan Bank  0.05%
    Federal Home Loan Mortgage Corporation  1.53%
    Federal National Mortgage Association  4.43%
    Financing Corporation  0.00%
    Government National Mortgage Association  0.00%
    Overseas Private Investment Corporation  0.00%
    Resolution Funding Corporation 0.00%
    Student Loan Marketing Association  0.00%
    Tennessee Valley Authority  0.00%
    Small Business Administration  0.00%
    Small Business Investment Companies  0.00%
    Housing and Urban Development  0.00%


1 Since Thrivent Government Bond Fund paid a short-term capital gain in 2020, the percentage of income from interest on government obligations is lower than a shareholder may think it would be since the amount in box 1a contains the total of dividends and short-term capital gains. However, the special tax treatment allowed by the states applies only to dividends paid as a result of receiving interest from government obligations. The special tax treatment does not apply to short-term capital gains.

 

 

Additional tax resources

State tax agency information

Customer tax resource center

2021 Federal Tax Guide

IRS.gov or call 800-829-1040 for the IRS Tax Help Line

Thrivent Mutual Funds and its representatives cannot provide tax or accounting advice.