No way to choose "collectible" for my gain in GLD etf, I imported 1099 B from Schwab

[epaclubtax]

after choosing stocks, Cryto, Mutual Funds, Bond and others, no more question on "collectible", why?

How to choose "collectible" for this gain?  Please advise.

[M-MTax]

When you add the ETF as an investment, you have to select "Other" and then select "Collectible" from the dropdown list.

[fanfare]

GLD ETF is not a collectible.

@epaclubtax 

[M-MTax]

https://www.cnbc.com/2025/05/01/gold-etf-investors-may-be-surprised-by-their-tax-bill-on-profits.htm...

[M-MTax]

https://www.thetaxadviser.com/issues/2019/nov/taxation-collectibles/

[epaclubtax]

You are incorrect.  GLD is a collectible!

[fanfare]

From your link:

"If a taxpayer who owns a collectible (recall that the definition of a collectible requires the taxpayer to hold the property for more than a year) ..."

GLD ETF traded for short term swings or day trades is not a collectible.

@M-MTax 

@epaclubtax 

[M-MTax]

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@fanfare wrote:

GLD ETF traded for short term swings or day trades is not a collectible.

@M-MTax 

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WHO CARES? If the ETF (GLD) or bullion is held short-term (a year or less), then it makes no difference since the 28% max rate for collectibles no longer applies. Any gain is taxed at your marginal tax rate with no 28% limit (as there is for a collectible).

Here's the deal: Section 408(m)(2) says that any metal is a collectible while Section 408(m)(3)(B) makes an exception for gold, silver, platinum, or palladium bullion (meaning NOT a collectible). HOWEVER, Section 1(h)(5)(A) effectively makes bullion a collectible, without regard to 408(m)(3), for assets held more than one year.

That's it and holding anything that is a "collectible" doesn't really matter a whole heck of a lot unless the dumb thing is held for more than a year. Otherwise, gain is taxed at ordinary income tax rates regardless.

[epaclubtax]

GLD is classified as collectible no matter if it is short term or long term gain.  U r correct in saying the tax calculation method is the same if it is short term gain and u treat it as ordinary income; but not the same if it is long term gain subjected to a max tax rate of 28% and not treated the same as normal stock long term gain.