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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: Re: Reporting GLD fees? Date: 6/12/2011 4:27 AM
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Maybe not:

Clear as mud.

I have heard that if it is gold supplied from the US Treasury it is ok, but not if foreign. GLD is foreign held. I'm not sure about IAU.

Does anyone know?

I don't know why you're so interested in a year-old thread, but it would help if you at least cited primary sources for your conclusions.

For instance, GLD can be held within an IRA without any problem. According to the GLD prospectus:

Code section 408(m) provides that the acquisition of a “collectible” by an individual retirement account, or IRA, or a participant-directed account maintained under any plan that is tax-qualified under Code section 401(a) is treated as a taxable distribution from the account to the owner of the IRA, or to the participant for whom the plan account is maintained, of an amount equal to the cost to the account of acquiring the collectible. The Sponsor has received a private letter ruling from the IRS to the effect that a purchase of Shares by an IRA, or by a participant-directed account under a Code section 401(a) plan, will not be treated as resulting in a taxable distribution to the IRA owner or plan participant under Code section 408(m)."

GLD is not foreign held. It is a trust established under the laws of New York State. Its sponsor is Swiss, but that is irrelevant.

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