PowerShares DB Silver Fund ETF (DBS)

All Comments on DBS

  • commenter
    keanemd
    May 21 09:35 AM
    My Website
    Wednesday Outlook: Commodities, Emerging Markets [view article]
    Thanks for the work. It does help the trading Reply
  • commenter
    jjc7477
    May 21 09:32 AM
    Wednesday Outlook: Commodities, Emerging Markets [view article]
    Make that three on a match. I miss you when you're out doing the travel thing! Reply
  • commenter
    User 148223
    May 21 09:05 AM
    Wednesday Outlook: Commodities, Emerging Markets [view article]
    I echo fatcat's sentiments; your work is always appreciated. Reply
  • commenter
    fatcat
    May 21 08:02 AM
    Wednesday Outlook: Commodities, Emerging Markets [view article]
    Thank you Mr. Fry.Your post are among the best available info anywhere and without a lot of bias.Keep up the good work! Reply
  • commenter
    taxguy
    May 12 09:53 PM
    Currency, Precious Metal and Futures ETFs: Don't Get Caught in the Tax Trap [view article]
    The article states that the disadvantageous tax treatment of GLD and SLV relative to traditional investments can be "deferred" by placing them in a retirement account. But actually, wouldn't doing so ELIMINATE rather than DEFER this disadvantage? Aren't all retirement account withdrawals taxed the same (as ordinary income?) Reply
  • commenter
    iman
    May 12 10:52 AM
    My Website
    Currency, Precious Metal and Futures ETFs: Don't Get Caught in the Tax Trap [view article]
    I'd like to hear about the US tax implications of buying and selling CEF in the US. Reply
  • commenter
    David
    Jackson
    May 12 03:40 AM
    My Website
    Commodity ETFs and ETNs [view article]
    Update: We just added the new Platinum long and short ETFs to the list, and re-organized the Further Reading section to make it more informative. Reply
  • commenter
    Chamois16
    May 11 08:35 AM
    Currency, Precious Metal and Futures ETFs: Don't Get Caught in the Tax Trap [view article]
    Purely a nitpick, but ETF are not mutual funds. From the SEC:

    "There are some investment companies, known as exchange-traded funds or ETFs, which are legally classified as open-end companies or UITs. ETFs differ from traditional open-end companies and UITs, because, pursuant to SEC exemptive orders, shares issued by ETFs trade on a secondary market and are only redeemable in very large blocks (blocks of 50,000 shares for example). ETFs are not considered to be, and are not permitted to call themselves, mutual funds."     Reply
  • commenter
    d_teller
    May 10 08:45 PM
    Currency, Precious Metal and Futures ETFs: Don't Get Caught in the Tax Trap [view article]
    My comments regarding the UBTI were ONLY for any type of security held in a tax-sheltered account.

    The commodities ETF's are great diversifiers, along with REITs, in any portfolio, and the grantor trusts' sales won't be taxed at 28%, but at marginal rates if within an IRA. BUT, there's always the possibility, due to mergers, acquisitions and portfolio changes in the underlying indices "creation units" that a tax-shelter disqualifier event may occur.     Reply
  • commenter
    sportsguy
    May 10 03:16 PM
    Currency, Precious Metal and Futures ETFs: Don't Get Caught in the Tax Trap [view article]
    i assume that options on DBC held in an IRA are excluded from the unfavorable tax implications. . . anyone know otherwise? Reply
  • commenter
    StateofConfu
    sion
    May 10 12:54 AM
    Currency, Precious Metal and Futures ETFs: Don't Get Caught in the Tax Trap [view article]
    Thanks Don, I invested in DBC recently (first time in a futures ETF) and I will sell it soon. This lunacy tax code already makes me sick for several weeks every year. I think the government keeps the public from revolting by snowing us with so much garbage we don't have time to realize what it has done to us. I'm all for a VAT and dumping the income tax. Reply
  • commenter
    d_teller
    May 09 09:13 PM
    Currency, Precious Metal and Futures ETFs: Don't Get Caught in the Tax Trap [view article]
    P.S. to Self-filer...above, the K-1 goes electronically, from the index maker to the IRS, and it has your Brokerage account number...not your SSI or tax I.D. The IRS computer matches them in nanoseconds. Reply
  • commenter
    d_teller
    May 09 09:02 PM
    Currency, Precious Metal and Futures ETFs: Don't Get Caught in the Tax Trap [view article]
    There's a potential BOMB in the K-1 (section 20, code V: Unrelated Business Taxable Income) from commodity ETFs and others that report from the Index Maker, not the standard 4798 IRA or 1099 report.

    The IRS may disqualify an investor's sheltered accounts if the "UBTI" exceeds $1000, among all the shelters (Roths included).The IRS doesn't want tax sheltered accounts to have a lot of "passive income' from tax-sheltered activities (such as grantor trusts, limited-publicly-trade... partnerships, etc.)

    All the other K-1 goodies (tax loss carry-forwards, return of capital, etc., which reduce the basis of the investment and convert dividends to cap gains tax rates) are lost in an IRA, where the amount of the asset is taxed at marginal rates upon withdrawal (or conversion).

    Most., if not all of GLD's "K-1" probably won't show any UBTI, but...at one point this Spring, the grantor trust had to find "alternative sources" for Au, when the world's supplies didn't match the creation units' needs. Of course, when the IMF dumped 300 tons, then, all was probably O.K.

    But I believe a review, especially one by someone who has experience with 401 (k) and 403(b) limitations, [under the 501 c tax regs], should at least mention the HAZARDS of receiving (in Feb. Mar., of '09) a seies of K-1's that have substantial UBTI.

    By the way, the prospecti for the various Powershares commodity linked ETFs from the Deutsche Bank indexes, e.g., DBC, do have buried in approxmately page 20 a paragraph that touches on the tax hazards...but obliquely. An investor who wishes more info, can call the Powershares Investor Relations number..and here at SeekingAlpha, there's a (mostly up to date description) list of the commodity futures, commodity holding and grantor trusts, and the comparable ETFs that hold company stocks , i.e., DBA vs. MOO.

    Any investor who has purchased and may have held for only a week or so, one of the the ETFs that file K-1's, will receive a K-1, after the end of Jan., and if there's no substantial UBTI, then nothing of that K-1 has to be reported to the IRS.

    It doesn't matter if DBA gave you "10,000.00" dividends from straddles and contracts; or if GLD gave you 5000.00 in tax-loss carry-forwards from mining development costs ... the thing that matters is the possibility of your needing to file form 920-t, and pay tax on an account that should have remained "tax-sheltered&qu...

    (920t's are filed by tax-exempt charities and religious organizations that have passive income such as 'UBTI' ... but they only need to pay the tax, they probably won't lose their tax-sheltered status. However, your IRA's may lose their tax-sheltered status).     Reply
  • commenter
    NewInvestor
    May 09 12:05 PM
    Currency, Precious Metal and Futures ETFs: Don't Get Caught in the Tax Trap [view article]
    Thank you for the article. I was planning to invest today in GLD outside of my Roth IRA. Now, I know better. Reply
  • commenter
    Get real!
    May 09 11:26 AM
    Currency, Precious Metal and Futures ETFs: Don't Get Caught in the Tax Trap [view article]
    What if you sold GLD and SLV and already filed your tax returns using the long-term capital gains rate? Is the IRS going to check every Schedule D item to see any of the ETF sales are metal-related, and then send you a bill for the extra taxes? This is a ridiculous tax policy. Reply
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