Thanks for the quick response. Per the "SPDR® GOLD TRUST 2023 Grantor Trust Tax Reporting Statement", GLD is a considered a "collectible" taxed at maximum federal rate of 28% versus 20% for other LT gains. See the following:
"The Trust holds only gold bullion and, accordingly, received no income during the year. Under current law, gains recognized by individuals from the sale of 'collectibles,' including gold bullion, held for more than one year are taxed at a maximum U.S. federal income tax rate of 28%, rather than the 20% rate applicable to most other long-term capital gains. For these purposes, gains recognized by an individual upon the sale of GLD shares held for more than one year, or attributable to the Trust's sale of any gold bullion which the Shareholder is treated (through its ownership of shares) as having held for more than one year generally will be taxed at a maximum U.S. federal income tax rate of 28%."
Given GLD is treated as a collectible, how do I reflect in TurboTax that a 1099-B received for the sale of GLD (long-term with basis reported to IRS) is for the sale of a collectible?
