I held SPDR Gold Trust shares in 2023 and never sold any of them. However, I see proceeds in my 1099-B form. I know these are the sales the trust makes to cover its expenses but for each sale, what do I put for the date acquired field on TurboTax? Is it okay if I just put the date of the sale as the date acquired? I am planning to put $0 for the cost basis for each sale too since I don't want to deal with trying to calculate them. I know I will be paying more taxes than I am supposed to this way but my total gain will be around $1 so no need to spend the extra time. I would appreciate all your help! If you have any advice as to how to determine cost basis for each, I am also open to them. Thank you!
Since you are willing to have a cost basis of zero the only additional important decision is to whether you held the asset more or less than a year so choose an appropriate date for that criterion.
@Bsch4477 Should I just put the date I purchased SPDR GOLD Trust for the last time just to be safe? I don’t really care if they all look like short term investments. Also, how would someone go about actually filling the date required field if they were to not put $0 for the cost basis? Thank you!
SPDR explains how to calculate the gain in the following PDF (there are examples).
https://www.spdrgoldshares.com/media/GLD/file/SPDR-Gold-Trust-Tax-Information-2023.pdf
This post explains the work required:
https://www.city-data.com/forum/investing/3343489-joys-gld-income-tax-reporting-spdr.html#google_vignette
It does seem like a lot of work for someone with a tiny amount of gain, and they should have just provided a calculator for folks.