WESTERN ASSET HIGH INCOME FUND II INC. Form 8937 (December 2017)
Department of the Treasury Internal Revenue Service
Report of Organizational Actions
Affecting Basis of Securities
See separate instructions.
OMB No. 1545-0123
Part I | Reporting Issuer | ||||
1 | Issuer's name | 2 Issuer's employer identification number (EIN) | |||
Western Asset High Income Fund II Inc. | 13-3998455 | ||||
3 | Name of contact for additional information | 4 | Telephone No. of contact | 5 Email address of contact | |
Shareholder Services | (888) 777-0102 | N/A | |||
6 | Number and street (or P.O. box if mail is not delivered to street address) of contact | 7 City, town, or post office, state, and ZIP code of contact | |||
One Franklin Parkway; Attn: Fund Tax Dept. | San Mateo, CA 94403 | ||||
8 | Date of action | 9 Classification and description | |||
See Statement 1 | Common Stock | ||||
10 | CUSIP number | 11 Serial number(s) | 12 Ticker symbol | 13 Account number(s) |
95766J102
HIX
Part II Organizational Action Attach additional statements if needed. See back of form for additional questions.
14 Describe the organizational action and, if applicable, the date of the action or the date against which shareholders' ownership is measured for
the action
15 Describe the quantitative effect of the organizational action on the basis of the security in the hands of a U.S. taxpayer as an adjustment per
share or as a percentage of old basis
16 Describe the calculation of the change in basis and the data that supports the calculation, such as the market values of securities and the
valuation dates
For Paperwork Reduction Act Notice, see the separate Instructions. | Cat. No. 37752P | Form 8937 (12-2017) |
Form 8937 (12-2017) | Page 2 | |
Part II | Organizational Action (continued) |
17 List the applicable Internal Revenue Code section(s) and subsection(s) upon which the tax treatment is based | See Statement 1 |
18 Can any resulting loss be recognized? | See Statement 1 |
19 Provide any other information necessary to implement the adjustment, such as the reportable tax year | See Statement 1 |
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign | ||||||||||
Here Signature | Date | |||||||||
Print your name | Title | |||||||||
Paid | Print/Type preparer's name | Preparer's signature | Date | Check | if | PTIN | ||||
Preparer | self-employed | |||||||||
Use Only | Firm's name | Firm's EIN | ||||||||
Firm's address | Phone no. | |||||||||
Send Form 8937 (including accompanying statements) to: Department of the Treasury, Internal Revenue Service, Ogden, UT 84201-0054
Statement 1
Information Furnished Pursuant to Internal Revenue Code Section 6045B
Relating to Actions Affecting the Basis of Securities
Issuer's Name: | Western Asset High Income Fund II Inc. (the "Fund") |
EIN: | 13-3998455 |
NYSE Ticker Symbol: | HIX |
Security Classification: | Common Stock |
CUSIP Number: | 95766J102 |
The Fund has determined that a portion of the distributions listed below that were paid during the taxable year ended April 30, 2023, are classified as return of capital:
Ordinary Income | Return of Capital | Total Distribution | |||
Ex-Date | Record Date | Payable Date | Per Share | Per Share | Per Share |
04/21/2022 | 04/22/2022 | 05/02/2022 | 0.0490 | - | 0.0490 |
05/20/2022 | 05/23/2022 | 06/01/2022 | 0.0490 | - | 0.0490 |
06/22/2022 | 06/23/2022 | 07/01/2022 | 0.0490 | - | 0.0490 |
07/21/2022 | 07/22/2022 | 08/01/2022 | 0.0490 | - | 0.0490 |
08/23/2022 | 08/24/2022 | 09/01/2022 | 0.0490 | - | 0.0490 |
09/22/2022 | 09/23/2022 | 10/03/2022 | 0.0490 | - | 0.0490 |
10/21/2022 | 10/24/2022 | 11/01/2022 | 0.0490 | - | 0.0490 |
11/21/2022 | 11/22/2022 | 12/01/2022 | 0.0490 | - | 0.0490 |
12/21/2022 | 12/22/2022 | 12/30/2022 | 0.0490 | - | 0.0490 |
01/23/2023 | 01/24/2023 | 02/01/2023 | 0.0122 | 0.0368 | 0.0490 |
02/17/2023 | 02/21/2023 | 03/01/2023 | 0.0122 | 0.0368 | 0.0490 |
03/23/2023 | 03/24/2023 | 04/03/2023 | 0.0122 | 0.0368 | 0.0490 |
Total | 0.4775 | 0.1105 | 0.5880 |
A return of capital is not considered taxable income to shareholders. Pursuant to IRC Section 301(c), the portion of a distribution which is a dividend (as defined under IRC Section 316) is includable in gross income while the portion of the distribution which is not a dividend shall be applied against and reduce the adjusted basis of the stock. Accordingly, shareholders who received these distributions should not include these amounts in taxable income, but instead pursuant to Internal Revenue Code Sections 301(c)(2) and 1016(a)(4), should treat them as a reduction of the cost basis of the applicable shares upon which these distributions were paid. In order to compute the required adjustment to cost basis, a shareholder should multiply the per share amount of each of the respective distributions by the number of shares held at each of the respective ex-dates.
If the shareholder has not sold or otherwise disposed of any shares during the taxable year ended April 30, 2023, the information computed by the shareholder regarding the appropriate reduction in cost basis should be maintained in the shareholder's records until such time as the shareholder sells or otherwise disposes of such shares.
If the shareholder has sold or otherwise disposed of any shares during the taxable year ended April 30, 2023, the shareholder should increase the recognized gain or decrease the recognized loss on the respective shares sold by the per share amount of the above-listed distribution multiplied by the respective shares held at each of the ex-dates listed which have been sold.
This information is being provided pursuant to Internal Revenue Code Section 6045(e), as amended. The tax information contained herein is provided for informational purposes only and should not be construed as legal or tax advice. Franklin Templeton does not provide legal or tax advice to taxpayers. This material and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties. Please consult an attorney or tax professional for assistance as to how this information will impact your specific tax situation.
For more information, please contact the Fund at 1-888-777-0102 or visit the Fund's web site at
www.franklintempleton.com/investments/options/closed-end-funds.
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Western Asset High Income Fund II Inc. published this content on 15 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2023 00:31:03 UTC.
