Where do I deduct 'Proceeds Investment Expenses' that appear on my Consolidated Tax from for my 'SPDR Gold Tr' shares?

[JamesG1]

Did the broker sell a portion of your investment in order to pay their broker fees?  If so, you would report these sales with $0 basis.

The same amount is reported as investment expense.  Investment expenses used to be deductible as an itemized deduction subject to the threshold of 2% of adjusted gross income (AGI).  However, this deduction has been suspended by the Tax Cuts and Jobs Act of 2018.  This expense is no longer deductible,

@Mike8 

[Mike8]

@JamesG1 

No, the broker did not sell a portion of my position.

Under the "UNDETERMINED TERM TRANSACTIONS FOR NONCOVERED TAX LOTS", I see every month a line for GLD with 0 quantity, then a proceed amount and something like this in the additional information column:

Principal payment
Cost Basis Factor: 0.[removed]

It does not make any sense to me.

[JamesG1]

I am unsure whether or not you are saying that the transactions reported a cost basis.

The transactions may be reported individually.  Or you may be able to group the transactions by the code reported on IRS form 8949.

Transactions reported on IRS form 1099-B showing basis that was not reported to the IRS are called uncovered.  Short-term reports code B.  Long-term reports code E.

In TurboTax Online, report the entries as follows:

• Down the left side of the screen, click on Federal.
• Down the left side of the screen, click on Wages & Income.
• Scroll down to Investments and Savings and click the down arrow to the right.
• Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
• Click Add investments.

@Mike8 

[Auvee]

For anyone facing this question regarding SPDR Gold Trust for Tax year 2024 or earlier (and probably later), see:

https://www.spdrgoldshares.com/#tax

Most funds, GLD included, publish tax information about their funds.  In the case of GLD this information is unusual (compared to stocks), so it's worth a read.  It explains how these investment expenses affect you as a shareholder: basically, you can adjust your basis, and report the sale, but the expense itself is not deductible, as others have noted.