GLD etf expenses

[nyjerr]

I received a corrected 1099-r after receiving my Federal tax refund. It involved the GLD etf and monthly expenses reported to the IRS. It shows up as proceeds and cost basis with small cap gains. None of the proceeds are in my account and the 1099-r has a line item called expenses that covers all the proceeds from the expense. I don't believe it affects my return in any way. Should I still file an amended return or let the IRS figure this out since it doesn't affect my income or taxes in any way.

[MaryK4]

Even though there is no change in the amount of taxes, you should amend your tax return because you will want to show the income, basis and expenses.  The IRS tends to look at the income part of the amended 1099-R but not the rest, so to avoid addressing this in a few years, file the amended return to show why the distribution is not taxable.