The following information was obtained from the iShares website and it relates to the iShares Silver Trust (SLV ETF). The following statement from iShares indicates that trust sale proceeds are not required to be reported. Sales of this type apparently relate to trust expenses which the trust pays with funds obtained by selling a pro rata share of silver from each trust holder's account.
Items of Gross Income: The Trust meets the general de minimis test of Reg. §1.671-5(c)(2)(iv)(D). Under this de minimis test, trust sales proceeds must only be reported if distributed to a beneficial owner. All trust sales proceeds for the calendar year were used to meet trust expenses. Accordingly, no trust sales proceeds are required to be reported. The Trust had no other items of gross income for the calendar year.
Here is a link to the webpage from which the above information was obtained.
iShares Silver Trust
@sgbloss
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