Wells Fargo Clearing Services – Turbo Tax Terms and Conditions

With respect to Wells Fargo Clearing Services online access clients, unless we otherwise notify you in writing, any information provided through the Site shall not be deemed to supersede or replace your 1099 tax forms or any "Amended" 1099 tax forms issued by us. In certain instances, the imported data may not accurately reflect the information needed for tax reporting. The data imported into Intuit tax products should be compared against the printed 1099 tax forms and any supplementary tax information statements (including but not limited to Widely Held Mortgage Trust statements), as you may be required to add, modify, delete or otherwise act upon some or all of the information that you import. Certain information may be imported; however, you may be required to make an affirmative choice as to how it should be accounted for on your federal tax return.

It is important to understand that the tax information imported from Wells Fargo Clearing Services online access to your Intuit tax product return may not be all of the information required for you to properly complete the investment income portion of your tax return. It is essential that you complete the Intuit tax product Interview and/or Review processes in their entireties to ensure that all Wells Fargo Clearing Services online access information is correctly reported to the IRS and/or the state(s) to which you report.

It is important to understand that the tax information imported from Wells Fargo Clearing Services online access to your Intuit tax product return may not be all of the information required for you to properly complete the investment income portion of your tax return. It is essential that you complete the Intuit tax product Interview and/or Review processes in their entireties to ensure that all Wells Fargo Clearing Services online access information is correctly reported to the IRS and/or the state(s) to which you report.

Your imported tax data is based on information known to Wells Fargo Clearing Services and relates only to accounts that are registered with Wells Fargo Clearing Services online access. The data is periodically updated to reflect adjustments as indicated on any subsequent "Amended" 1099 tax forms. Wells Fargo Clearing Services supports the import of data from IRS Forms 1099-DIV, 1099-INT, 1099-OID, 1099-MISC, closed tax lots for Schedule D completion, and 1099-R. The imported data may not include all adjustments or information necessary in the preparation of your tax return, including but not limited to, a REMIC Form 1099-OID, Form 1099-C, or secondary market information for bonds.

Wells Fargo Clearing Services provides the following information sources to help you complete your tax return. Tax information can be found online by logging into your brokerage account access and selecting the Tax Center. We recommend that you read the following information that is updated annually:

• Tax Essentials: A Guide to Understanding Your 1099 Statement and More
• Understanding Your 1099 Statement

The import data containing your tax information is subject to amendment and, if applicable, Wells Fargo Clearing Services will issue you "amended" 1099 tax forms. Much of the supplementary information related to Widely Held Fixed Investment Trusts (WHFITs) and Widely Held Mortgage Trusts (WHMTs) is not supported by Intuit tax product programming.

Your tax liability could be affected by interest received from private activity bonds. The tax information import does not import all tax data onto the IRS forms necessary to compute your potential alternative minimum tax (AMT) exposure. If applicable to your account, refer to your Wells Fargo Clearing Services 1099-INT tax forms for tax-exempt interest and tax-exempt dividends. Bonds subject to OID accrual reporting are not included with the Form 1099-INT amounts, pursuant to IRS announcements. That information is located in the "Miscellaneous Activity" section of your printed tax package. Consult your tax advisor and IRS Instructions for questions around the Alternative Minimum Tax for Individuals.

Cost basis represents what you paid for your security, generally, the purchase price, subject to certain adjustments. You must determine your accurate basis (original cost or adjusted) to calculate the reportable capital gain/loss from the sales of your securities. Cost basis and capital gains/losses are reported on your Schedule D.

Wells Fargo Clearing Services provides cost basis information in the Intuit tax product download as a courtesy to our clients. However, this information may be missing or not reflect all adjustments which need to be made in order to accurately report gains or losses for tax reporting purposes. Wells Fargo Clearing Services does not adjust cost basis for all events, including but not limited to, exercise of stock options, securities deemed to have been sold and simultaneously repurchased, partial pay downs or return of capital, receipt of cash in lieu of fractional shares and the net effect of wash sales and/or short sales against the box. For securities not purchased through Wells Fargo Clearing Services, including securities purchased elsewhere and later transferred to Wells Fargo Clearing Services, cost basis information is either missing or has been supplied by you or your Financial Advisor, and Wells Fargo Clearing Services has no responsibility for such information.

You should verify the cost basis and acquisition date information provided in the download against your own records when determining the appropriate cost basis and acquisition date to be used. If the cost basis and/or acquisition date that was downloaded does not match your records or is missing, Intuit tax product software will allow you to modify any of the information which was downloaded from Wells Fargo Clearing Services.

Even though Wells Fargo Clearing Services provides the cost basis and acquisition date information associated with items on IRS Form 1099-B (Proceeds from Broker and Barter Exchange Transactions), it is the client's responsibility to verify and reconcile the cost basis and acquisition date information with the items on IRS Form 1099-B. Wells Fargo Clearing Services reports only the gross proceeds (less commissions) on the IRS Form 1099-B, and that form includes no cost basis or gain/loss information associated with that tax lot.

The cost basis and acquisition date information in the download is derived from transactions processed through Wells Fargo Clearing Services or information supplied by you. Wells Fargo Clearing Services liquidates the position you acquired earliest first ("first in, first out," or "FIFO," method) unless you have instructed us otherwise.

Consult your tax advisor and IRS Instructions for Schedule D (Capital Gains and Losses) for additional information.

The cost basis supplied in the Intuit tax product download may include cost basis provided by you, the client. Wells Fargo Clearing Services is not responsible for the reporting of cost basis information for which the client supplied the cost basis information. Wells Fargo Clearing Services provides cost basis and acquisition date information in the Intuit tax product download as a courtesy to our clients. However, this information may be missing or may not reflect all adjustments which need to be made in order to accurately report gains or losses for tax reporting purposes. You should verify the cost basis and acquisition date information provided in the download against your own records when determining the appropriate cost basis and acquisition date to be used when calculating gains and losses for tax reporting purposes. Intuit tax product software will allow you to modify any of the information which was downloaded from Wells Fargo Clearing Services. Consult with your tax advisor, the IRS and relevant IRS publications for additional information.

Wells Fargo Clearing Services provides cost basis and acquisition date information as a courtesy to our clients. However, this information may not reflect all adjustments which need to be made in order to accurately report gains or losses for tax reporting purposes. Wells Fargo Clearing Services generally liquidates positions using the "first in, first out," or "FIFO" method, unless you have instructed us otherwise. You should verify the cost basis and acquisition date information provided in the download against your own records when determining the appropriate cost basis and acquisition date to be used when calculating gains and losses for tax reporting purposes.

If at any time you have used other methods for tracking and/or reporting cost basis for securities held in your account, you must use your own records for tax reporting purposes for those securities and cannot rely on the data supplied in the Intuit tax product download. Intuit tax product software will allow you to modify any of the information which was downloaded from Wells Fargo Clearing Services.

If you have identified a specific tax lot of a security to be liquidated, at the time the trade was placed, that tax lot identification may not be reflected in the cost basis information that is imported into the Intuit tax product from Wells Fargo Clearing Services. You must carefully compare your records against the data that was imported, and you must use your own records to accurately record the cost basis and acquisition date for tax reporting purposes. Intuit tax product software will allow you to modify any of the information which was downloaded from Wells Fargo Clearing Services.

You may need IRS authorization to change the cost basis method you selected. Consult with your tax advisor, the IRS and relevant IRS publications for additional information.

If the cost basis and/or acquisition date is missing from some of your securities, it may be because the information was not available at the time the account was enrolled in our Gain/Loss system or because you transferred it to Wells Fargo Clearing Services from another financial institution. Please refer to your own tax records to accurately record the cost basis and acquisition date to supplement the sale information which will be imported into the Intuit tax product.

Cost basis will not be supplied in the import process for certain securities, which include, but are not limited to, options, sale of foreign rights, cash in lieu of fractional shares and managed futures. We cannot provide cost basis for multiple sales of the same security on the same day. Please consult your tax advisor for guidance on reporting gain/loss information for sales of these types of investments.

Wells Fargo Clearing Services makes every effort to capture and process cost basis for securities that have been through a corporate action (i.e., merger, acquisitions, spin-offs and other reorganizations). Because of the complexity of such reorganizations, however, Wells Fargo Clearing Services cannot ensure the accuracy of the adjusted cost basis supplied in the Intuit tax product download. It is your responsibility to verify this data from your own tax records and correct the cost basis information in the Intuit tax product as necessary. If you have questions regarding any adjustments to your initial basis, please consult with your tax advisor, the IRS and relevant IRS publications for additional information.

Wells Fargo Clearing Services adjusts the cost basis of corporate (taxable) bonds, municipal bonds, Treasury notes and bonds, and Federal Agency bonds for accretion and amortization, and this adjusted cost basis will be imported into the Intuit tax product. Amortization and accretion on taxable bonds is a taxpayer election. If you choose not to amortize or accrete your taxable bonds, you will need to adjust your cost basis back to the original purchase price. Refer to your own records to accurately adjust the cost basis information imported into the Intuit tax product. Consult with your tax advisor, the IRS and relevant IRS publications for additional information.

Certain foreign securities may be considered to be Passive Foreign Investment Companies (PFIC) under the Internal Revenue Code. If you hold shares in a PFIC, the tax import will not correctly report the tax information required by the IRS for these securities; this may depend on shareholder-level tax elections. Consult your tax advisor and the IRS for additional information on tax elections and reporting requirements for shareholders of PFICs.

Wells Fargo Clearing Services does not provide the cost basis for cash distributions to holders of American Depository Receipts (ADRs) made as the result of the sale of rights issued in foreign rights offerings. Refer to your own records to add the cost basis information to the sale information imported into the Intuit tax product. Consult with your tax advisor, the IRS and relevant IRS publications for additional information.

You may be able to claim taxes paid to a foreign country as a deduction or as a credit on your federal tax return. You will need to make this election after you import your brokerage account tax information from Wells Fargo Clearing Services online access. Generally, it is more advantageous to claim a credit on your return. Consult with your tax advisor, the IRS and relevant IRS publications for additional information.

The tax information import does not contain any tax information for distributions paid to your brokerage account for Master Limited Partnerships. Cost basis related to these types of transactions is not supported in the Intuit tax product download. Refer to your own tax records to accurately record the cost basis information to supplement the sale information, which will be imported into the Intuit tax product. You should receive a separate Schedule K-1, issued directly by the partnership. General partners normally do not issue K-1s until after March 15. Consult with your tax advisor, the IRS and relevant IRS publications for additional information.

The tax information import does not import any Options Sale Transactions (calls/puts) nor any cost basis information. Options transactions must be reported on your Schedule D, but are not reportable by Wells Fargo Clearing Services. Consult with your tax advisor, the IRS and relevant IRS publications for additional information.

The IRS requires Wells Fargo Clearing Services to report all short-sale transactions on Form 1099-B, regardless of whether or not you have closed the position. If you have not closed the position, Wells Fargo Clearing Services will report the proceeds, but will not supply cost basis information. If you had a short sale against the box (shorted a stock where you also held a long position) or covered the position during 2009, Wells Fargo Clearing Services will report cost basis information on that short sale using the cost basis of your long position on a first in, first out (FIFO) basis. Consult with your tax advisor, the IRS and relevant IRS publications for additional information.

The tax information import provided by Wells Fargo Clearing Services online access is based on reporting requirements for your federal tax return. It is not meant to support state tax returns. If you are using this information to complete your state tax return through the Intuit tax product or otherwise, obtain your state income tax reporting regulations to determine any adjustments or modification to the information provided. For example, tax-exempt municipal income and income derived from certain U.S. Treasury obligations may not be properly imported for the completion of your state income tax return. Consult with your tax advisor or your state taxing authority for additional information.

Tax exempt interest and dividends are now reportable on Form 1099-INT, therefore, this information will be included with your tax information import. If you are using this information to complete your state tax return, you may be required to determine any additional adjustments or modifications to complete your state tax return. Refer to your Wells Fargo Clearing Services 1099-INT tax forms for tax-exempt interest and tax-exempt dividends. Bonds subject to OID accrual reporting are not included with the Form 1099-INT amounts, pursuant to IRS announcements. That information is located in the "Miscellaneous Activity" section of your printed tax package. Consult your tax advisor with questions.

A wash sale occurs when shares are sold at a loss and, within 30 days before or after the sale, shares of the same security or a substantially identical security are purchased. If a wash sale occurs, the loss from the transaction is disallowed under the Internal Revenue Code. When a wash sale occurs, the amount of the loss is applied to the cost basis of the purchased shares that caused the wash sale. The wash sale rule applies across the calendar year. For example:

• Realized losses from security sales late in December could be washed if you were to re-acquire the security within 30 days (in January the following year). Waiting until February 1 to reacquire the position would prevent your trading activity from invoking the wash sale rule.

Wells Fargo Clearing Services does not adjust for wash sales. You must check your own records for all of your accounts to ensure you are correctly reporting any wash sale that may have occurred. You must carefully compare your records against the data that was imported, and you must use your own records to accurately record the cost basis for tax reporting purposes. Intuit tax product software will allow you to modify any of the information, which was downloaded from Wells Fargo Clearing Services. Consult with your tax advisor, the IRS and relevant IRS publications for additional information.

Intuit tax products are software products published by Intuit Inc. The general terms and conditions for using Intuit tax products are contained within tax product Terms and Conditions. You should read those Terms and conditions carefully.

In addition to remaining a customer of Wells Fargo Clearing Services, by ordering or using a copy of the Intuit tax product, you will also become a customer of Intuit. Wells Fargo Clearing Services and Intuit are not affiliates or agents of each other. All inquiries and correspondence regarding online access and your Wells Fargo Clearing Services accounts should be directed to Wells Fargo Clearing Services, not to Intuit. Intuit will answer questions from you about the Intuit tax product in accordance with Intuit's standard customer service policies as posted from time to time at Intuit's web sites.

The terms and conditions of Wells Fargo Clearing Services' Privacy Policy as set forth in the general terms and conditions relating to your use of online access continue to apply to your use of online access for the download of tax information into the Intuit tax product. Wells Fargo Clearing Services does not, either expressly or through implication, bear any responsibility for privacy matters relating to your use of the Intuit tax product.

The information and data about your Wells Fargo Clearing Services accounts that you access and analyze through online access, including the tax information you download into the Intuit tax product, are provided "AS IS." From time to time, downloading tax information from online access into the Intuit tax product may result in errors that cause such downloads to be incorrect. Wells Fargo Clearing Services does not, either expressly or through implication, warrant this information and data or its download, display and analysis by using online access and the Intuit tax product for any particular purpose and expressly disclaims any implied warranties, including, but not limited to, warranties of title, merchantability or fitness for a particular purpose. Wells Fargo Clearing Services will not be responsible for any loss or damage that could result from interception by third parties of any information and data made available to you via online access. Wells Fargo Clearing Services cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you through online access for any particular purpose, including, without limitation, its download into the Intuit tax product. Neither Wells Fargo Clearing Services, nor any of its affiliates, directors, officers or employees, nor Intuit or any other third party vendor, will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of online access or the Intuit tax product, or resulting from the act or omission of any other party involved in making available to you online access, the information and data accessed through online access, and the use of the Intuit tax product or any other cause relating to your access to, inability to access, or use of online access or the Intuit tax product, whether or not the circumstances giving rise to such cause may have been within the control of Wells Fargo Clearing Services, Intuit or any other vendor providing software or services. In no event will Wells Fargo Clearing Services, Intuit or any other such parties be liable to you for any direct, special, indirect, consequential or incidental damages or any other damages of any kind even if Wells Fargo Clearing Services, Intuit or any other such party has been advised of the possibility thereof.

Except as otherwise stated, all right, title and interest in online access and any content contained in online access is the exclusive property of Wells Fargo Clearing Services, and all right, title and interest in the Intuit tax product is the exclusive property of Intuit. Unless otherwise specified, access to online access and the use of the Intuit tax product is for your personal and non-commercial use only. You may not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, frame, create derivative works from, transfer, or otherwise use in whole or in part any information software, products or services obtained from Wells Fargo Clearing Services, except for the purposes expressly provided herein, without Wells Fargo Clearing Services' prior written approval. If you download any information or software from online access or Intuit, you agree that you will not remove or obscure any copyright or other notices or legends contained in any such information.

Wells Fargo Clearing Services is a service mark of Wells Fargo & Company, LLC. online access is a registered trademark of Wells Fargo Clearing Services. The Wells Fargo Clearing Services logo is a registered trademark/service mark of Wells Fargo Clearing Services. Intuit, the Intuit logo, EasyStep and all Intuit tax products are registered trademarks/service marks of Intuit. The names of actual companies and third-party products mentioned herein may be the trademarks of their respective owners.

This agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Virginia, without regard to conflicts of laws provisions. Sole and exclusive jurisdiction for any action or proceeding arising out of or related to this agreement shall be in an appropriate state or federal court located in the Commonwealth of Virginia and the parties unconditionally waive their respective rights to a jury trial. If for any reason a court of competent jurisdiction finds any provision of this agreement, or a portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to the effect the intent of this agreement, and the remainder of this agreement shall continue in full force and effect.