ETF K-1 form


L

loch

Hi,

I have a brokerage account at fidelity which includes, among other
things, an ETF - DBC, to be specific. My 1099s from fidelity make no
mention of any interest/distributions/etc from this ETF.

Now, I got a K-1 form directly from Powershares with interest listed
for this ETF.

Since fidelity did not include this in the 1099, does that mean this
is somehow not taxable, or it gets reflected in the ETF NAV or cost
basis and only matters when i finally sell the ETF? Or, does fidelity
just leave the ETFs out of its 1099s and I have to separately enter it
into my taxes each year?
 
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A

Arthur Kamlet

Hi,

I have a brokerage account at fidelity which includes, among other
things, an ETF - DBC, to be specific. My 1099s from fidelity make no
mention of any interest/distributions/etc from this ETF.

Now, I got a K-1 form directly from Powershares with interest listed
for this ETF.

Since fidelity did not include this in the 1099, does that mean this
is somehow not taxable, or it gets reflected in the ETF NAV or cost
basis and only matters when i finally sell the ETF? Or, does fidelity
just leave the ETFs out of its 1099s and I have to separately enter it
into my taxes each year?

If Fidelity did this right, the K-1 information has to be added to
your 1040.
 

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