GLD etf

[epaclubtax]

Does TurboTax Premier handle GLD etf sales for short term or long term gain?  Does TurboTax know how to treat GLD etf as collectible as dictated by IRS?

[JulieS]

If you are asking whether TurboTax automatically marks GLD gains as having the collectible status, no, it does not. 

But you can indicate the collectible status in the program. 

This is how to do that:

1. Select Federal from the left side menu.
2. Select Wages & Income.
3. Scroll down and look for Investments and Savings.
4. Expand the section and find Stocks, Mutual Funds, Bonds, Other and click on Start or Update to the right. 
5. Click + Add investments at the bottom. 
6. Click Continue.
7. Scroll to the bottom and click Enter a different way.
8. Select Stocks, Bonds, Mutual Funds, click Continue.
9. Enter a description and click Continue.
10. Select Collectibles from the first drop down and fill in your information about the sale.