Company: NMZ
Filing Date: 2025-11-18
Form Type: N-14 8C/A
Source: 0001999371-25-018025
Chunk: 181

Company: NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND
Filing Date: 2025-11-18
Form: N-14 8C/A
Chunk 181
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 Generally, a U.S. shareholder’s
gain or loss will be long-term capital gain or loss if the shares have been held for more than one year even though the increase
in value in such shares is attributable to tax-exempt interest income. The gain or loss on shares held for one year or less will
generally be treated as short-term capital gain or loss. Current federal income tax law taxes both long-term and short-term capital
gains of corporations at the same rates applicable to ordinary income. However, for noncorporate U.S. shareholders, long-term capital
gains are currently taxed at a maximum federal income tax rate of 20%, while short-term capital gains are currently taxed at ordinary
income rates. An additional 3.8% Medicare tax may also apply to certain individual, estate or trust shareholders’ capital
gain from the sale or other disposition of their shares. Any loss on the sale of shares that have been held for six months or less
will be disallowed to the extent of any distribution of exempt-interest dividends received with respect to such shares, unless
the shares are of a RIC that declares exempt-interest dividends on a daily basis in an amount equal to at least 90% of its net
tax-exempt interest and distributes such dividends on a monthly or more frequent basis. Any remaining loss on the sale or disposition
of shares held for six months or less will be treated as a long-term capital loss to the extent of any distributions of net capital
gains received (and undistributed net capital gain designated by the Acquiring Fund that is deemed to be received) by the shareholder
on such shares. Any loss realized on a sale or exchange of shares of the Acquiring Fund will be disallowed to the extent those
shares of the Acquiring Fund are replaced by other substantially identical shares of the Acquiring Fund or other substantially
identical stock or securities (including through reinvestment of dividends) within a period of 61 days beginning 30 days before
and ending 30 days after the date of disposition of the original shares. In that event, the basis of the replacement shares will
be adjusted to reflect the disallowed loss. The deductibility of capital losses is subject to limitations.

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Any interest on indebtedness incurred or
continued to purchase or carry the Acquiring Fund’s shares to which exempt-interest dividends are allocated is not deductible.
Under certain applicable rules, the purchase or ownership of shares may be considered to have been made with