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| Information for Investors Regarding Tax Reporting |
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The PowerShares DB commodity and currency funds (eleven in total) provide their returns by holding US T-Bills and exchange traded futures contracts. The IRS requires these funds to be marked to market at the end of each year, at which time investors are apportioned their pro rata shares of gains or losses.
In 2007
investors received their tax information in the form of a K-1, which was
available on the website in late February 2008, and mailed to investors in the
first week of March.
The 2008 tax information
for our eleven funds will available on the web and will be mailed out to
investors the first week of March 2009. The toll-free numbers for our funds are
below, and investors can use a turbo-tax download from our website at:
https://www.taxpackagesupport.com/dbfunds
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| Fund |
Toll-free Number |
| PowerShares DB Commodity Index Tracking Fund (DBC) |
800-578-8755 |
| PowerShares DB G10 Currency Harvest Fund (DBV) |
877-527-6397 |
| PowerShares DB Oil Fund (DBO) |
866-592-6421 |
| PowerShares DB Energy Fund (DBE) |
866-592-6159 |
| PowerShares DB Precious Metals Fund (DBP) |
866-592-6423 |
| PowerShares DB Gold Fund (DGL) |
866-592-6361 |
| PowerShares DB Silver Fund (DBS) |
866-592-5929 |
| PowerShares DB Base Metals Fund (DBB) |
866-592-5848 |
| PowerShares DB Base Agriculture Fund (DBB) |
866-526-0136 |
| PowerShares DB US Dollar Index Bullish Fund (UUP) |
866-592-6425 |
| PowerShares DB US Dollar Index Bearish Fund (UDN) |
866-592-6424 |
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Please note that neither Deutsche Bank nor its affiliates provides legal, tax or accounting advice. The above also does not address shareholders with certain special situations (as described in the relevant prospectus). For full information, investors should read the prospectus for the relevant fund. Investors also should consult their tax advisors.
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| Distribution Tax Q&A |
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| POWERSHARES DB FUNDS DECLARE DISTRIBUTION |
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| The following discussion describes the material United States federal income tax considerations associated with this distribution for United States Shareholders (as defined in the prospectus). This discussion does not address shareholders with certain special situations (as described in the prospectus). However, we cannot assure you that the United States Internal Revenue Service or the courts will agree with the tax consequences described below. A different treatment from that described below could adversely affect you. Accordingly, we urge you to consult your own tax adviser concerning the particular United States federal income tax consequences to you of this distribution, as well as any consequences to you arising under the laws of any other taxing jurisdiction |
Deutsche Bank AG, including its subsidiaries and affiliates, does not provide legal, tax or accounting advice. This communication (including any attachments) was not intended or written to be used, and cannot be used or relied upon, by any taxpayer for purposes of avoiding any U.S. federal tax penalties. |
What is this distribution? This distribution generally should be considered as a non-taxable return of investment or capital. |
Is this distribution a taxable dividend or income for federal income tax purposes? No.
Is this distribution a taxable dividend or income for federal income tax purposes?No. This distribution generally should not be reported as a taxable dividend or otherwise as taxable income on federal income tax returns. Instead, holders of the PowerShares DB funds will be required to report their allocable share of partnership income and other items which will be provided to them in letters that they should receive in February 2009.
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How will investors know what to report on their 2008 federal income tax returns? PricewaterhouseCoopers (PwC) has been retained by DB Commodity Services LLC to provide tax information to holders of the PowerShares DB funds for tax year 2008. This information will include instructions on how investors should report their allocable share of partnership income and other items on 2008 federal income tax returns.
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