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Can anyone tell me if trading the gold miners (GDX for example) will result in a K-1 or will the result just be the usual 1099 for ETFs? Thanks. I am aware of the long term and short term rates but I think there is NO K-1.
That's what I was reading also, but wanted to confirm with anyone who has experiencing trading or investing it.
Thanks for your response. I hate K-1s if I can avoid them!
I also don't generally trade or invest in Gold, but we may be seeing a good longer term opportunity here to trade/invest in an ETF like GLD (no K-1) and perhaps GDX (the miners) in my opinion.
I used to own ASA Gold and Precious Metals, which is classified as a "passive foreign investment trust." I didn't know it when I bought the stock but it came with tax issues from the 70s and 80s. I sold the stock when I found out.
Not sure I'm understanding why you are saying and the web site transfers me to an "Energy" site, but thanks anyway.
It is a good list of companies that if invested in will generate a K1. They are not all energy, although MLPs are more common in that sector. If you scroll down you'll see financial and real estate etc.
These are not as common anymore, energy which has been the red headed step child for a number of years now. In addition, they should never be placed in any account with special tax treatment as the K1 will still generate a tax bill even if it is owned in a Roth or IRA.
As you can imagine, these factors will limit their appeal significantly and they are no longer in favor.
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