Tortoise Closed-End Funds

Tax Information

(NYSE: NDP) Tortoise Energy Independence Fund, Inc.

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Find distributions and other tax-related resources for Tortoise closed-end funds.
Tax forms, publications and instructions are available for download from the IRS Web site.

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Annual 1099-DIV

2014 Common Stock Tax Information

NDP provides the following tax information to its common stockholders pertaining to the character of distributions paid during 2014. For stockholders who received all distributions in cash during 2014, 55.93% was treated as ordinary income (Box 1a less Box 1b), 11.92% as qualified dividend income (Box 1b), 27.10% as capital gain (Box 2a), and 5.05% as a return of capital (Box 3). The per share characterization is reflected in the sample Form 1099-DIV below.

Ex-Div Date Record Date Payment
Date
Total
Distributions
Per Share
Total
Ordinary Dividends
Box 1a
Qualified
Dividends
Box 1b
Capital Gain
Distributions
Box 2a
Nondividend
Distributions
Box 3
11/19/2014 11/21/2014 11/28/2014 $0.437500 $0.296834 $0.052126 $0.118581 $0.022085
08/20/2014 08/22/2014 08/29/2014 $0.437500 $0.296834 $0.052126 $0.118581 $0.022085
05/20/2014 05/22/2014 05/30/2014 $0.437500 $0.296834 $0.052126 $0.118581 $0.022085
02/19/2014 02/21/2014 02/28/2014 $0.437500 $0.296834 $0.052126 $0.118581 $0.022085
Total 2014 Distributions: $1.750000 $1.187336 $0.208504 $0.474324 $0.088340



Box 1a: Ordinary dividends are taxed at ordinary income tax rates.
Box 1b: Qualified dividends are taxed at capital gain tax rates if the stockholder meets holding-period requirements.
Box 2a: Capital gain distributions (long-term) are taxed at capital gain tax rates.
Box 3: Nondividend distributions are nontaxable and considered return of capital.

For stockholders who participated in the company-sponsored dividend reinvestment plan, the tax basis of shares acquired is the greater of the purchase price or the market close price on the payment date.

Report of Organizational Actions Affecting Basis of Securities

Effective January 1, 2012, issuers of regulated investment company securities must complete Form 8937 to report organizational actions, including nontaxable distributions, that affect the basis of the securities involved in the organizational action. The information contained below is intended to satisy the requirements of public reporting under section 1.6045B-1(a)(3) and (b)(4) of the Treasury Regulations.

2014 Form 8937

Nothing contained herein should be construed as tax advice; consult your tax adviser for more information. Furthermore, you may not rely upon any information herein for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code.