This sounds more like a partnership, not an ETF.
The ETF in question was UUP (dollar bullish fund).
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You do need to review
> the Schedule K-1 you receive from the investment, because there may be
> income or deductions you need to report in other parts of your tax
> return (Schedule E, Form 4797, Schedule B are common forms you will
> require). The sample is to show you where on the return various
> elements of the K-1 go. And you may need to include a statement in
> your tax return with the purchase, and another one with the sale.
> These are usually printed (in very small type) in the instructions,
> sometimes in a box. The basis of the security may need to be adjusted
> following the instructions because some gain may need to be reported
> on Form 4797. Welcome to the bizarre world of publicly traded
> partnerships (PTP). while I'm not familiar with TurboTax, I'm sure it
> has a place to put all the partnership information. You can also go
to
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look for the partnership site, log in with your name, and get the K-1> information directly. I've noticed that some of them include a> download link to get your personalized information into TurboTax. What a headache...I usually download the information from my brokerageand that takes care of the tax reporting/calculation for all theregular stocks. I thought I was done for the year until I received the Ownership Schedule this weekend. Will have to see if I can figure it all out next weekend.Thanks for the responses!
Anoop