How do I report the Fees

ANOTHER POST, SAME SUBJECT
Widely Held Fixed Investment Trust (WHFIT)
by Zagros•1•Updated 2 days ago
I bought and sold GLD in 2020.
1. in 1099B there a line for both transactions, as I expected.
2. in 1099B there is an additional transaction that has confused me.
The quantity is 0 but there is a value under the Proceed column and a value for "cost basis factor" under the Additional Information column.
3. There is an item in the "Fee and Expenses" for GLD showing the negative value of the proceed of the entry in 2.

1099B says GLD is a "widely held fixed investment trust (WHFIT)" security (note No. 15). in TT, this one has a "needs review" button and the only values are under the columns Date and Proceed. As 1099B says, I need to use the given "Cost Basis Factor" to calculate the cost basis for this transaction. According to note No.16 in the 1099B form,

[cost basis allocation factor] = [ value of the assets sold ] / [ total net asset of the trust]

 

I need to know, how do I get [ the total net asset of the trust].

 

I appreciate any help.


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Best Answer
by fanfare
Because the fee is relatively small your cost basis could be less than 50 cents or negligible, which rounds to zero.

If the fee is less than 50 cents you can drop those transactions from your return.

RESPONSE
Fees are not negligible.