tax question

Discussion in 'ETFs' started by mikeenday, Jul 8, 2011.

  1. mikeenday

    mikeenday Guest

    if I day trade QQQ/SPY/USO, is the profit/loss reported in schedule D or will it count as income due to partnership as the way ETF organized?
  2. Securities ETFs are like trading stocks tax-wise.

    Commodities ETFs are also securities when it comes to a sale, but you may receive a K-1 at tax time with some income or loss to report. Then you need to adjust your cost basis too for the sale transaction.

    Learn more here Mar 23 11 - ETF tax and regulatory issues
  3. In any business transactions, you should consider all the consequences before deciding up. Do not instantly approve it. You must study it first before making any move.