The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/has-anyone-had-problems-doing-the-gld-1099b-28374356.aspx

Subject:  Re: SPDR GLD 1099B Date:  3/16/2010  3:46 PM
Author:  irasmilo Number:  109625 of 121061

Has anyone had problems doing the GLD 1099B calculations entry into their taxes?

No. It's pretty straightforward. You have a Schedule D entry which shows the sales proceeds from the 1099-B as both the cost and the sales amount. The purchase date is the date you first purchased GLD.

You have a miscellaneous itemized deduction (subject to 2% AGI) for the same amount.

You need to reduce your cost basis in your records for the GLD you still own by the amount shown on the 1099-B.

Ira
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us