FORM 5
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported		 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

                                                                                  
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OMB Number: 3235-0362
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

CARLSON LEROY T JR		2. Issuer Name and Ticker or Trading Symbol

TELEPHONE & DATA SYSTEMS INC /DE/ [TDS]		 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
President and CEO
(Last)          (First)          (Middle)

30 N. LASALLE ST., STE. 4000		3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY)
12/31/2022 
(Street)

CHICAGO, IL 60602
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed(MM/DD/YYYY)
 
6. Individual or Joint/Group Filing(Check Applicable Line)

_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		2. Trans. Date2A. Deemed Execution Date, if any3. Trans. Code
(Instr. 8)		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount(A) or (D)Price
Common Shares 10/16/2022  G 10000 D$0 117029 (1)D  
Common Shares 10/31/2022  G 14000 D$0 103029 D  
Common Shares 12/6/2022  G 103029 D$0 0 (1)D  
Common Shares        211758 (2)I By Trust 
Common        78943 (2)I By Trust 
Common Shares 10/16/2022  G 10000 A$0 10518 I By wife 
Common Shares 11/7/2022  G 2586 D$0 7932 I By wife 
Common Shares 12/6/2022  G 103029 A$0 110961 I By wife 
Common Shares        23493 (3)I By 401(k) 
Common Shares        1759584 (1)(4)I By Voting Trust 

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)		2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date
(MM/DD/YYYY)		7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)		8. Price of Derivative Security
(Instr. 5)		9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Series A Common Shares           (5) (5)Common Shares 1918692.0  1918692 (1)(6)I By Voting Trust 
Deferred Compensation           (7) (7)Common Shares 81757.0  81757 (7)D  
Series A Common Shares           (5) (5)Common Shares 11424.0  11424 (2)I By Trust 
Series A Common Shares           (5) (5)Common Shares 11746.0  11746 (2)I By Trust 
Series A Common Shares           (5) (5)Common Shares 297.0  297 I By Wife 
Explanation of Responses:
(1) Effective 12/31/22, reporting person is no longer including shares held by grown children no longer sharing his household in his ownership totals.
(2) Voluntary report of shares held in trust, the trustee of which is a third party and beneficiaries include reporting person's spouse and descendants
(3) The information is based on a plan statement dated 12/31/22. The number of shares fluctuates and is attributable to the price of the shares on 12/31/22.
(4) Reporting person is one of four trustees of a trust which is also a reporting person. The shares reported are held by respective reporting person and his family members that have a pecuniary interest in such securities. Includes 691,720 Common Shares held by a family partnership of which reporting person is a general partner.
(5) Series A Common shares are convertible, on a share-for-share basis, into common shares.
(6) Reporting person is one of four trustees of a trust which is also a reporting person. The shares reported are held by respective reporting person and his family members that have a pecuniary interest in such securities. Includes 753,934 Series A Common Shares held by a family partnership of which reporting person is a general partner.
(7) Reporting person deferred bonuses pursuant to the TDS Long Term Incentive Plans. Employer matches vest ratably at a rate of 33%, 33%, 34% over three years. A total of 78,879 common share units were vested at 12/31/22.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
CARLSON LEROY T JR
30 N. LASALLE ST., STE. 4000
CHICAGO, IL 60602		X
President and CEO
Signatures
Julie D. Mathews, by power of atty2/2/2023
**Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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