Question

ISHARES GOLD - Undetermined Term Transactions For Non covered Tax Lots - No Cost basis or Date Acquired. Proceeds $0.01/month,"needs review",still owned,What should I do?

Forum|Forum|5 years ago
June 5, 2020
2 replies
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I'm getting proceeds for $0.01/month during 2019 from Ishares Gold Trust. I have not sold any securities, and however it's showing sold/disposed date, no cost basis, no date acquired. And TurboTax is showing me "Needs Review". not sure what to do to finish my tax return. Thank you

TurboTax Premier Online

fanfare

Your product liquidates a tiny amount each month for expenses.

This result in 12 annoying sell transactions that you must enter on your tax return if you don't have this product in a tax-deferred account.

Basis can be calculated using a basis tool you can find on the Internet.

Critter

If the sales were only 12 cents for the entire tax year then simply leave this off the return as it rounds down to zero in the end.

I

iamartin

I'm having the same problem with my son's taxes. It's 9 transactions that add up to $1.81 Robinhood Securities LLC. There's no "Cost or other basis" or "Gain or Loss". There's a Cost Basis Factor under additional info. Turbotax is asking for "Date acquired" and "Cost or other Basis". I'd appreciate any help. Thanks in advance!

fanfare

enter the asked for information.

if cost = zero does not work, enter $0.01.

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iamartin

@fanfare Thanks so much for answering! The last hurdle is "Short-term vs Long-term". For "Date acquired" all say "N/A". I'd appreciate your thoughts. Thanks in advance!