Hi all,
I own some highly appreciated shares of the GLD ETF in a taxable account, and was considering donating it to a charity. However, this ETF is considered a "Widely Held Fixed Investment Trust", and is treated in some ways like a collectible; so I'm confused about whether I'll be able to deduct the full fair market value (as typical when donating ordinary stock or mutual funds) or just my basis. Does anyone out there have any ideas or experience in this area? TIA!
I own some highly appreciated shares of the GLD ETF in a taxable account, and was considering donating it to a charity. However, this ETF is considered a "Widely Held Fixed Investment Trust", and is treated in some ways like a collectible; so I'm confused about whether I'll be able to deduct the full fair market value (as typical when donating ordinary stock or mutual funds) or just my basis. Does anyone out there have any ideas or experience in this area? TIA!