I bought some SPDR Gold ETF in 2024, and I received my 1099B from my broker Fidelity.
I did not sell any of my shares in 2024, but I see on 1099B transactions that entries in short-term transactions listed as "principal" rather than "sale". The 1a) description says "0" for quantity so: "SPDR GOLD TR GOLD SHS 0" as imported by Turbotax.
Should I just leave it as is as Turbotax imported the 1099B form from Fidelity or are there additional steps I need perform? What does these entries mean since I didn't make a sale, or is it a disposing due to some fund adjustments? I understand Gold (even as a ETF) is treated differently (collectible)? Not sure if these "principal" transactions have anything to do with it.
Thank you!
The transactions you are seeing are from the ETF selling a small amount of the ETF to pay the management expenses of the fund. For information on how to report these sales, click on the following link to see the SPDR Gold Trust 2024 Grantor Trust Tax Reporting Statement.
The transactions you are seeing are from the ETF selling a small amount of the ETF to pay the management expenses of the fund. For information on how to report these sales, click on the following link to see the SPDR Gold Trust 2024 Grantor Trust Tax Reporting Statement.